Ann: Significant Cobalt Mineralisation Potential at BHA Project, page-2

With further forensic work uncovering up to 6,182 drill-holes across
the East Zone 1 (BHA Project) – undertaken by North Broken Hill
Group – the Board has prioritised codifying the data then modelling
up a JORC 2012 compliant cobalt mineral resource estimate:
 Incrementally, the seven reverse circulation and diamond drill-
core samples (in the GSNSW core library) will be tested for
cobalt mineralisation; and
 As all previous drilling / assays completed by North Broken Hill
Group meet current QAQC requirements, there should be a high
degree of confidence in the final modelled result
o Given encouraging results from the initial 108 drill-holes, all
delivering assays from >200ppm Co up to 9,500ppm Co 2
, spinning-
off the BHA Group 3 (via an IPO) has been deferred – this will enable
the Board to focus on expediting the development of the East Zone
o Overall, identifying the cobalt potential within the East Zone is
timely, with the battery metal upcycle ongoing and the NSW
government listing the BHA Project on its Critical Minerals list