Wolfram Camp Mine Exploration Permit – EPM 28898 EQR has been awarded the EPM for resource exploration at the historic Wolfram Camp mine site to determine the feasibility of re-commissioning. This aligns with the Queensland Government’s plan to invest A$245 million in the Critical Minerals Strategy, emphasising the re-commercialisation of old mines for economic growth and a sustainable future. The permit encompasses a 477km2 RA442 license area within the Herberton Tin-Tungsten field and offers immense potential. Approximately 5 million tonnes of Low-Grade Stockpile and tailings are readily available for evaluation. The 5-year program includes drilling over 10,000 meters in the next 3 years and collecting 4,000 soil samples as well as completing a pre-feasibility on selected targets. An XRT Ore Sorter trial will also be undertaken in FY2025 to evaluate its compatibility with the existing Mt Carbine processes. This initiative supports EQR’s growth strategy and will further solidify the region’s role as a critical mineral hub due to Wolfram Camp being located approximately 60km from the Mt Carbine Mine Site. See ASX Announcement 27th July 2023: ‘EQR Awarded Permit For Historic Wolfram Camp Mine’. See QLD Government Statement 18th June 2024: “Permit granted to unlock critical minerals and jobs at historic Far North Queensland mine site”. Over the past 12 months, the Company has secured environmental and heritage site access approvals. The Queensland Government has also provided the main camp at the Wolfram mine site, which can now be used as a base of operations. Currently, two personnel from the geology department are on-site, working through extensive historical information to ensure it is properly organised into accessible databases. The main intrusive at the Wolfram Camp prospect is the O’Briens Creek Supersuite. This geological feature is significant as it represents an older intrusive event compared to the younger “S” type intrusives found at the nearby Mt Carbine tungsten system. The O’Briens Creek Supersuite is associated with porphyry-style mineralisation and peripheral vein systems, which are key characteristics of the Wolfram Camp prospect. Previously, the focus was on the localised identification of ‘greisen’ mineralisation that occurs along the contact, but the current program is focused on following the higher-grade vein system. Most of the drilling (97%) has been shallow RC drilling, providing limited geological information and hindering detailed interpretation. Old workings maps from the early 20th century offer valuable insights, indicating that artisanal miners were extracting high-grade veins at depths exceeding 100 meters below the greisen contact. Given the higher grades of these veins, there is a strong case for deeper drilling to follow the vein system to greater depths. resourcing the new economy for a better tomorrow The main intrusive at the Wolfram Camp prospect is the O’Briens Creek Supersuite. This geological feature is significant as it represents an older intrusive event compared to the younger “S” type intrusives found at the nearby Mt Carbine tungsten system. The O’Briens Creek Supersuite is associated with porphyry-style mineralisation and peripheral vein systems, which are key characteristics of the Wolfram Camp prospect. Previously, the focus was on the localised identification of ‘greisen’ mineralisation that occurs along the contact, but the current program is focused on following the higher-grade vein system. Most of the drilling (97%) has been shallow RC drilling, providing limited geological information and hindering detailed interpretation. Old workings maps from the early 20th century offer valuable insights, indicating that artisanal miners were extracting high-grade veins at depths exceeding 100 meters below the greisen contact. Given the higher grades of these veins, there is a strong case for deeper drilling to follow the vein system to greater depths. Left: Longitudinal section – Wolfram Camp greisen Zones and Stoped areas; Right: 3D view looking SE – Wolfram Camp Resources Extensions At Bamford Hill, there is an extensive breccia pipe that is locally well mineralised, with grades exceeding 0.5%. Although the size potential has yet to be fully determined, and historical drilling has been limited, mapping suggests that the breccia pipe extends vertically over 250 meters. Detailed reconnaissance mapping, coupled with Induced Polarization surveys, is planned for Bamford Hill to enhance understanding of its scale and mineralisation potential. Orebody Resource Classification Tonnes (kt) Grade (% WO3) WO3 (mtu) Indicated 442 0.15 66,300 Inferred 1,829 0.15 274,350 Indicated 77 0.69 53,130 Greisen Left: Longitudinal section – Wolfram Camp greisen zones and stoped areas; Right: 3D view looking SE – Wolfram Camp Resources Extensions. Operating and Financial Review continued 46 EQ Resources Limited Annual Report 2024
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