Specialist consultant, ANSTO1, has been appointed to undertake...

Specialist consultant, ANSTO1, has been appointed to undertake comprehensive
metallurgical test-work on six samples from Fence Gossan, Reefs and Tors Tanks
Prospects (BHA Project’s East Zone) to understand the potential to extract rare earth
elements (REE) from shallow clay zones; results should take 8-10 weeks

o The scope of work will focus on characterising REE leachability from the six samples
which comprise fresh pegmatite to highly weathered clay, especially with Magnetic
Rare Earth Oxide (MREO) grades ranging from 362-603ppm (refer Appendix A)

o This is an important step towards advancing the viability of the BHA Project’s East
Zone REE potential and securing interest from prospective development partners,
especially given the extent of high-value MREO (Nd+Pr+Dy+Tb) within the system

o To recap, the best RC and diamond core assay result intercepts from Tors Tank and
Fence Gossan – across the shallow, clay-hosted, REE system 2 – were:
 13m @ 1,550ppm Total Rare Earth Oxides (TREO) from 5m; 38.9% MREO
(TT_005DD) 2 of the TREO grade vs 25% peer average 3 17m @ 1,605ppm TREO from 2m; 28.6% MREO & 1m @ 3,236 TREO from 19m; 28.9% MREO (FG_003RC) 2 10m @ 1,013ppm TREO from 49m; 24.7% MREO (FG_001RC) 2 6m @ 1,480ppm TREO from 7m; 28.9% MREO (FG_004RC) 2
 5m @ 1,598ppm TREO from 14m; 29.1% MREO (TT_002RC) 2

o Meanwhile, work on the Big One Deposit optimisation study and updating the Cangai
Copper Mine Mineral Resource Estimate is progressing on schedule