Ann: DFS Metallurgical Program Underway, page-2

HIGHLIGHTS
• 28 metallurgical drill holes for 2,116m have been completed.
• 14 geotechnical drill holes for 1,224m have been completed.
• All assay results for the metallurgical drill holes have been received.
• Composite samples have been successfully collected and submitted to ALS
Metallurgical Laboratories in Perth.
• Comprehensive testwork programs will further de-risk the Project and
simultaneously investigate value-adding opportunities.
The DFS metallurgical testwork program has been carefully designed to investigate and define the
optimal processing parameters and associated metallurgical performance of ore to be mined from
Sorby Hills deposit. A total of 28 metallurgical drill holes (Figure 1) for 2,116m have been completed
from which master, schedule and variability composite samples have been selected and submitted to
ALS Metallurgical Laboratories in Perth.
In addition to comminution (crushing and grinding), flotation and tailings testwork, a primary
objective of the metallurgical program will be to further investigate the incorporation of a
Dense Media Separation (“DMS”) plant into the processing flowsheet as a way to add value to
the Sorby Hills Project.
Previous metallurgical testwork conducted by the Company has demonstrated that the inclusion of a
DMS in the flowsheet would potentially allow for the economic incorporation of lower grade ore into
the production schedule by enhancing feed grade (2.7x for Lead and 2.4x for Silver - ASX release 30
April 2020) and increasing ore throughput. The DFS will build on this body of work through a
combination of bench scale and pilot scale testwork programs.
Lead-Silver concentrate samples and specifications generated from the metallurgical testwork
program will support discussions with Offtakers over the coming months.