Johnson veins showing up in the pit – looking at blast # 305-002 wall. Individual vein’s look high by visual inspection with the entire face being 0.28% WO3 in this region. After conducting an internal review, the principal engineers and environmental consultants have endorsed an expansion of the original noise and visual bund design, scheduled for the second half of FY2024. This expansion will extend the Bund further north around the edge of the open pit, facilitating proactive seeding and rehabilitation of the area. The scope of the extension has more than doubled the material requirements for construction. The Mt Carbine team is committed to utilising the waste material for this purpose, and the bund is currently approaching 30% completion of this significant capital project. At the end of June 2024, the underground portal of the existing 430-meter decline from the 1980s was uncovered, a significant milestone in EQR’s exploration efforts for underground potential. The next step will be to pump the water out and conduct geotechnical surveys and assessments, planned for early FY 2025, ahead of the underground drilling campaign and feasibility study. Entrance of the existing decline reopened June 2024. Operating and Financial Review continued 30 EQ Resources Limited Annual Report 2024
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