Pending Announcements due anytime DEA Department of...

Pending Announcements due anytime

DEA Department of Environmental Affairs, Awaiting Approval

On 17 December 2023, a DEA staff member arrived on site to inspect and clarify the proposed drilling program, after which on 21 December 2023 the DEA advised the Company of the requirement for a detailed EIA. The requirement of a detailed EIA was the result of an amendment to environmental regulations which now stipulate that any exploration being conducted for heavy metals on tribal or state land requires a detailed EIA to be submitted.

As the Company’s Kihabe-Nxuu project is situated on tribal land, the Company’s EIA consultant has submitted a detailed EIA to the DEA, for which the Company is now awaiting approval.

Drilling

Compliance with the Department of Environmental Affairs During the quarter, the principal activity of the Company involved completing all regulatory requirements as prescribed by the Department of Environmental Affairs (DEA), to conduct an estimated 2,600m of HQ diamond core drilling campaign on the Nxuu Deposit Indicated/Inferred Resource. Following completion of the drilling campaign, the Company believes it will be able to generate a Measured/Indicated Mineral Resource Estimate for the Nxuu Deposit, compliant with the 2012 JORC Code. A revised Mineral Resource estimate will enable the Company to proceed to a Pre-feasibility study, followed by a Definitive Feasibility Study.

Results pending

Test Work for onsite recovery of Gallium and Germanium Samples have been submitted to laboratories for metallurgical test work to confirm to what extent Gallium and Germanium can be recovered on site. The sample preparation has now progressed to a point where the samples are ready to be subject to mineralogical test work to determine the host minerals for Gallium and Germanium. Once the host minerals have been determined, metallurgical recovery test work will then be conducted. During the quarter initial gravity and leaching test work was programmed and commenced in mid-January 2024.