Luni - Geology, page-55

MINERALOGY AND METALLURGY Investor Presentation | Page 19  Five composite samples have undergone detailed mineralogical assessment using QEMSCAN and XRD  Dominant high-purity, primary niobium bearing minerals observed in the samples  Strong liberation properties observed with niobium minerals in a size range commonly amenable to flotation  Preliminary metallurgical amenability appears potentially favourable using conventional processing techniques LUNI DRILL SAMPLE IMAGES – LUDD23-006 CORE (FROM 44-48M) WITH INSET OF SEM IMAGE FROM LURC23-033 (COMPOSITE SAMPLE FROM 40-48M) OF LIBERATED PYROCHLORE CIRCLED IN YELLOW1 Refer to appendices for full list of references Niobium minerals Niobium content Liberation of niobium minerals Next steps Preliminary mineralogy results Pyrochlore Columbite ~70% Nb2O5 ~74% Nb2O5 >85% of -150 to +38um ‘wellliberated’ or ‘high-grade middlings’ Completion of sighter beneficiation and flotation testwork using diamond core in progress Implications Key minerals at existing global operations High purity should assist with a quality end-product Liberation should assist with concentration and recovery RESULTS FROM PRELIMINARY MINERALOGICAL CHARACTERISATION AND ASSESSMENT


page 19 in Equity Raising Presentation release this morning