Laboratory activities The newly established laboratory has been efficiently assaying samples from the open pit and various processing plants, providing quick turnaround times for results. This enables the team to better understand the new material being processed, assess different grades, and optimise the processing circuits accordingly. The lab efficiently processes samples daily, with a well-distributed labour force ensuring timely completion of tasks like crushing, splitting, pulverising, and assaying. Quality control measures, including both internal and external checks, were maintained to ensure reliable results. The lab successfully implemented a 24-hour turnaround for results, significantly improving the understanding of the plant’s efficiency. This year, the laboratory team achieved concentrate results within 1% of those from Australian Laboratory Service (“ALS”) and Massan. Established quality control measures and procedures, including 20% internal and 10% external quality checks via ALS. Expanded operational capacity to process up to 100 samples daily when fully staffed. The team is currently building the capacity to process drill core and conduct multi-element assaying on soil samples into the current workflow, which is expected to enhance versatility from the X-Ray Fluorescence spectrometer (“XRF”) and provide more comprehensive results and insights for exploration leases without sending samples to ALS for analysis. The newly established laboratory shed before all equipment and shelving was put into place. The collaboration with the Barruecopardo laboratory in Spain has greatly improved the overall knowledge base and the management of information. Moving forward, the Company is working on a combined Laboratory Information Management System between both operations for ease of access to results through a central database. Operating and Financial Review continued 42 EQ Resources Limited Annual Report 2024
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