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Highlights

o Withthelong-termdemandoutlookforcopperremainingpositive,especiallywiththe transition to green energy gaining increased traction, there is likely to be persistent upward pressure on the price and greater exploration to establish new supply chains

o With this positive backdrop, the Board has been progressing plans to expedite developing the copper assets, with the following service provider appointment as well as work conducted on the Cangai resource by the CCZ geology team:

o Entech Mining1 will undertake a pit optimisation and mine design study for the Big One Deposit (NWQ Copper Project Mt Isa copper belt), which has an inferred JORC Mineral Resource Estimate (MRE) at 2.1Mt @ 1.1% Cu for 21,886t2 copper metal:

•  If the findings are positive then next steps comprise determining the optimal path to market and effective use of third-party processors

•  Concurrently, work can focus on capitalising on Big One Deposit’s exploration potential via drill-testing known targets north of the line of lode

•  Interest in the Mt Isa copper belt is significant, as CCZ’s footprint is proximal to ground owned by majors including Rio Tinto, Anglo America, Teck & Glencore

o The CCZ geology team will update and enhance the confidence in the 2017 inferred JORC MRE for Cangai Copper Mine (northern NSW) – 107,589t contained copper metal (3.2Mt @ 3.35%)3:

•  Critically, drilling work post-2017, which includes 34 RC drill-holes for circa 5,000m4, will be factored into the geological model

•  Notably, Cangai Copper Mine still delivers exploration potential as DHEM surveys4 in 2018-19 identified several untested bedrock conductors that are open at depth

So this is surely flying under the radar ATM IMHO.