Mineral Resources and Ore Reserves

Table 1 – Internal Group estimate of the remaining mineralisation of the Gedabek open pit in accordance with JORC at 1 March 2024

Note that all tonnages reported are dry metric tonnes.

Table 2 – Internal Group estimate of the remaining mineralisation of the Gedabek underground mine in accordance with JORC at 1 March 2024

Note that all tonnages reported are dry metric tonnes.

Table 3 – Internal Group estimate of the remaining mineralisation of the Gadir underground mine in accordance with JORC at 1 March 2024

Note that all tonnages reported are dry metric tonnes.

Zafar JORC (2021) Mineral Resources and Ore Reserves – Summary

• 6.8 million tonnes of mineralisation with average grades of 0.5 per cent. copper, 0.6 per cent. zinc and 0.4 grammes of gold per tonne
• In-situ Mineral Resource of 28,000 tonnes of copper, 73,000 ounces of gold and 36,000 tonnes of zinc
• Angled drill holes completed since the maiden Mineral Resource was published on 16 August 2021 identified voids which has resulted in a smaller resource
• Upper part of the resource is now defined as more massive and continuous which will result in more efficient mining
• Over 302 metres of continuous mineralisation in the thickest intersection
• Total drilling to date is 40,538 metres

Mineral Resource estimate for the Zafar deposit at 30 November 2021

Note that all tonnages reported are dry metric tonnes. Totals may not add due to rounding.

Gilar is a mineral deposit located in the Gedabek contract area approximately seven kilometres from the Company’s existing processing facilities. The area hosts two styles of mineralisation, gold in quartz veins and hydrothermal gold-copper.

On 11 December 2023, the Company published a JORC (2012) Mineral Resource Estimate for Gilar which contains 255,240 ounces of gold, 53,890 tonnes of copper and 45,720 tonnes of zinc. See the table below.

Mineral Resource estimate for the Gilar deposit at 30 November 2023

Reporting cut-off: >= 0.5 grammes per tonne of gold equivalent* 

The Xarxar deposit is located in the Xarxar contract area and hosts a range of copper minerals, including malachite, azurite, chalcocite, bornite, neotocite, chalcopyrite, rarely molybdenite and pyrite minerals associated with intense argillic and phyllic alteration.

On 20 February 2024, the Company published a JORC (2012) Mineral Resource Estimate for Xarxar which contains 119,100 tonnes of copper. See the table below.

Mineral Resource estimate for the Xarxar deposit at January 2024

Reporting cut-off: >= 0.2 per cent. copper

(i) Note that Measured Resources were nil due to insufficient third-party quality assurance and quality control (“QAQC”) drill core assays being carried out. Further QAQC drill core assays will be carried out.
Note that all tonnages reported are dry metric tonnes. Totals may not add due to rounding.

Note that all tonnages reported are dry metric tonnes. Totals may not add due to rounding.

The mineral resource estimate in the above table was prepared using a copper selling price of $9,000 per tonne to determine the amount of copper under the Reasonable Prospects for Eventual Economic Extraction (“RPEEE”) criteria of JORC.