Ann: Investor Presentation February 2023, page-22

Not enough information to know if the grade is changing at depth within the primary chalcopyrite sulphide zone. The grade in the top 70-100m is strongly influenced by a supergene chalcocite overprint. Chalcocite is a very high % copper mineral and was commonly mined as direct shipping ore in the Cloncurry region, it was called black ore in old newspaper articles when reporting on mines in the late 1800's to 1920.

The chalcopyrite zone is lower grade than the chalcocite supergene zone. At 1000m it will be chalcopyrite sulphide zone, hopefully still in the 2+% Cu for the high grade core of the shoot.