Ann: Wallbrook Exploration Target & Mineral Resource Estimate, page-60

The target is 480-790koz
The MRE is 185koz



The target is what is possible with further drilling.
The MRE is what is currently defined using Jorc Categories of Inferred and Indicated.

To lift the MRE to something closer to a mineable deposit (Measured resource) will require plenty more drilling at closer spacings and heaps of dollars, even if the company now limits drill depths to around 200m.

The main issue is how to raise enough cash to undertake the required drilling to increase the Jorc category on the current MRE whilst also progressing the other areas in order to grow the resource towards the target figure of 480-790koz.

Around 85,000m of RC drilling undertaken by NXM so far and over 10,000m of Diamond drilling also. At least they now have a target area to work on and probably no longer need to drilling so deep, so hopefully this will help going forward.