Resources and Reserve Statement Saloro Resources Estimate Orebody Resource Classification Tonnes (Mt) Grade (% WO3) WO3 (mtu) In-Situ Measured 8.82 0.19 1,659,959 Indicated 10.27 0.18 1,799,757 Inferred 3.82 0.26 995,555 Total 22.91 0.20 4,455,272 Saloro Barruecopardo Resources as per June 2024, Resources >=0.05% WO3 data from topography June 2024 Preparation of the MRE Report Following the JORC 2012 Code After completing the exploration drilling campaign, which began in January 2022 and concluded in March 2023, with a total of 7,423.10 meters of drilling across 22 holes, work commenced on preparing a Mineral Resource Estimate (MRE) in accordance with the guidelines of the JORC 2012 Code. This resource report was compiled by Jorg Pohl as the Competent Person. The conclusions of this report were published by EQR in February 2024. The resource model developed is moderately conservative, providing a more accurate representation of the observed conditions in the mine. 2023 Resource Block Model, filtered by class and grade. Project 2035 With the data received from the new resource model and with the aim of obtaining regional government permits for a future expansion of the waste dump and mine extension, the development of the Project named 2035 has begun. This project is scheduled to be presented in September 2024. Estimates suggest that the resolution and subsequent approval of the project could be obtained within 6 to 12 months, i.e., by March or September 2025. Operating and Financial Review continued 54 EQ Resources Limited Annual Report 2024
RkJQdWJsaXNoZXIy MjE2NDg3