EXPLORATION AND OPEN PIT MINE PLANNING ▪ major US$1.35M resource drilling exploration and mine planning program commenced in Q3 2023 ▪ aimed at defining a maiden JORC resource estimate and finalise open pit mine planning and optimise operations ▪ PDS Drilling commenced a 2-phase 41 diamond drill program in Q3 2023. ▪ airborne geophysics and multispectral satellite imaging work, geological modelling, open pit mine design study and an initial mining works program, environmental studies and discounted cashflow analyses underway ▪ Phase 1 drilling completed ahead of schedule in early Q4 2023 ▪ Phase 2 drilling completed iahead of schedule n late Q4 2023 ▪ samples submitted to ALS Laboratories and assays in Q4 2023 ▪ JORC resource estimate to be completed in H2 2024 ▪ mine planning and optimisation program completed in Q4 2023 ▪ pre-stripping and open pit mine development to commence in Q1 2024 ▪ first production from new open pit in H1 2024 ▪ open pit operations to continue for +10 year minelife 39
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