CORA Cora Gold Limited

Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining

15 January 2025

Cora Gold Limited

('Cora' or 'the Company')

+1 Million Ounce Mineral Resource Estimate Delineated at Sanankoro Gold Project

Cora Gold Limited, the West African focused gold company, is pleased to announce an updated Mineral Resource Estimate ('MRE') at its flagship Sanankoro Gold Project ('Sanankoro' or 'the Project') in southern Mali. This follows the addition of 2,669m of drilling (50 Reverse Circulation ('RC') drillholes) to the Sanankoro MRE dataset; this drilling was primarily to de-risk the MRE and convert near surface Inferred Mineral Resource material to higher-confidence Indicated, allowing the Company to extend the life of mine ('LOM') of the Project once new Ore Reserves ('OR') studies have been completed.

2024 MRE Update Highlights

·    2024 MRE achieved:

o  total resources 31.4 Mt at 1.04 g/t Au for 1,044 koz, comprising Indicated 19.0 Mt at 1.13 g/t Au for 689 koz plus Inferred 12.4 Mt at 0.89 g/t Au for 354 koz

o  26% increase in tonnage to 31.4Mt (2022 MRE: 24.9Mt)

o  13% increase in contained metal to 1,044koz Au (2022 MRE: 920koz Au)

·    MRE update follows a successful 2023 mineral resource conversion drill programme, the data from which led to a remodelling at Zone A and Selin.

·    Other contributing factors to the 2024 MRE increase include:

o  a decrease in the cut-off grade to 0.3 g/t Au (2022 MRE: 0.4 g/t Au).

o  an increase in the gold price used for the pit shell of US$2,400/oz (2022 MRE: US$1,900/oz), which has increased the volume of material inside the reporting pit.

·    Potential further mineral growth that may be achievable:

o  Results from the optimised pits imply more resources may be reported if additional work is completed to delineate MRE model extensions; further deeper drilling is now required to expand the MRE at Zone A, Zone B, Zone B North and Zone C.

o  The single exploration hole drilled at Zone B discovered new mineralisation, which is not part of the current MRE, with three mineralised zones intersected (19m at 0.66 g/t Au from 27m to 36m, 11m at 0.34 g/t Au from 70m to 81m) and with the hole ending in mineralisation (1m at 2.87 g/t Au) at 120m.

o  A further pipeline of oxide drill targets (brownfield and greenfield) are being reviewed by the Company's exploration team to potentially further grow the Mineral Resource; the MRE potential of these targets has been highlighted in the 2024 MRE Report.

o  Subsequent to the announcement of the 2022 MRE for a total of 24.9 Mt at 1.15 g/t Au for 920 koz, Cora published an Exploration Target, which in addition to the 2022 MRE, is estimated to contain between 26.0Mt and 35.2Mt with a grade range of 0.58 - 1.21 g/t Au for a potential content of 490koz Au-1.37Moz Au.

Note: The potential quantity and grade of this Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

·    2024 MRE and ongoing optimisation studies to support an updated Definitive Feasibility Study ('DFS') in 2025, with enhanced project metrics expected given significantly higher gold price since the 2022 DFS (previously completed on a US$1,750/oz gold price).

Bert Monro, Chief Executive Officer of Cora, commented, "The Company is continuing to positively build the economic and exploration potential of the Sanankoro Gold Project. It's been well established that the more we drill, the more we find, and as a project it is far from a finished product.  We are constantly seeking ways to enhance the value of the prospects and extend the life of mine in a way that best maximises shareholder funds.  This MRE update is another step in delivering on our development strategy, which in light of a continued strong gold price, is proving to be a very opportune time to be bringing a high value, low cost, oxide gold project such as Sanankoro into production.

"During the last quarter, following a thorough review of the 2022 DFS, Cora commissioned a processing optimisation study to look at ways to further enhance the process plant flow sheet, aimed at delivering further economic benefits to the Project.  Following this study's completion, it's our intention to update the Project's Ore Reserves and publish an updated DFS during 2025. With the gold price currently at near record highs, and the previously completed DFS based on a US$1,750/oz gold price, we are hoping for significant improvements in the Project's economics. I look forward to being able to share the results of these studies once completed.

"The Company is proactively engaging with the Malian government regarding its application for a mining licence, which, once granted, will allow mine construction to commence.  We are looking forward to 2025 and working hard to deliver an enhanced project."

Further Information

ERM Australia Consultants Pty Ltd ('ERM'; formerly CSA Global), was commissioned by Cora to provide an updated MRE for Sanankoro. The Project is located in southwestern Mali, approximately 25km northeast of the border with Guinea, on the leading western edge of the Yanfolila-Kalana Volcanic Belt. On a local scale, there are five main mineralised areas which currently define the Project, which in order of significance are Selin, Zone A, Zone B, Zone B North, and Zone C. Additionally, Fode 1 and Target 6 represent areas of interest that were explored and drilled in the 2022 campaign. The subsequent small MRE resource conversion and de-risking drill campaign focussed on infill drilling at Selin and Zone A, with a single exploration hole drilled at Zone B West.

Figure 1. Location of the Sanankoro Gold Project

The previous MRE was reported in 2022 by CSA Global (see announcement dated 19 July 2022). The 2024 MRE update is part of the Company's project improvement efforts, which will result in an updated DFS for the Sanankoro Gold Project. The 2024 MRE has been classified and reported as Indicated and Inferred in accordance with the guidelines of the JORC Code 2012^[1]. Pit optimisation studies demonstrate that the Mineral Resource can be extracted by means of open pit mining and therefore meets the criteria required for Reasonable Prospects for Eventual Economic Extraction ('RPEEE').

The 2024 MRE is reported above a cut-off grade of 0.3 g/t Au and comprises 31.4Mt at 1.04 g/t Au. The previous Mineral Resource was reported in June 2022 by CSA Global at a cut-off grade of 0.4 g/t Au and comprised 24.9Mt at 1.15g/t Au. The 2024 MRE represents a 26% increase in tonnage and a 13% increase in contained metal compared to the 2022 MRE. Contributing factors to this increase are:

•             remodelling at Zone A and Selin due to additional data.

•             a decrease in the cut-off grade from 0.4 g/t Au to 0.3 g/t Au.

•             an increase in the gold price used for the RPEEE pit shell of US$2,400/oz (2022 MRE: US$1,900/oz) has increased the volume of material inside the reporting pit, at depth.

•             an increased proportion of Inferred material reported within the RPEEE pits is largely attributable to the metal price increase.

The 2024 Mineral Resource is stated in Table 1 and a breakdown of the 2024 Mineral Resource by zone is presented in Table 2. A comparison of the 2022 MRE vs the 2024 MRE by classification and zone is shown in Table 3.

Table 1 Sanankoro Mineral Resource

Notes:
Reported at a gold only cut-off grade of 0.3 g/t Au inside an optimised pit shell constructed using a gold price of US$2,400/oz and dated at 30 November 2024. The topographic surface used for reporting accounts for artisanal mining up to December 2020.

The Mineral Resource is reported on a 100% ownership basis and is stated as in situ dry tonnes; figures are reported in metric tonnes. Figures have been rounded to the appropriate level of precision for the reporting of Mineral Resources.

Table 2. Sanankoro Mineral Resource by Zone

Notes:
Reported at a gold only cut-off grade of 0.3 g/t Au inside an optimised pit shell constructed using a gold price of US$2,400/oz and dated at 30 November 2024.  The topographic surface used for reporting accounts for artisanal mining up to December 2020.

The Mineral Resource is reported on a 100% ownership basis and is stated as in situ dry tonnes; figures are reported in metric tonnes. Figures have been rounded to the appropriate level of precision for the reporting of Mineral Resources.

Table 3. Comparison 2022 MRE vs 2024 MRE by Classification and Zone

Notes:
Reporting in this table is unrounded. Reported at a gold only cut-off grade of 0.3 g/t Au inside an optimised pit shell constructed using a gold price of US$2,400/oz for the 2024 MRE and 0.4 g/t Au inside an optimised pit shell constructed using a gold price of US$1,900/oz for the 2022 MRE.  The topographic surface used for reporting accounts for artisanal mining up to December 2020.

The Mineral Resource is reported on a 100% ownership basis and is stated as in situ dry tonnes; figures are reported in metric tonnes.

Zone B West Discovery

A single hole SC0708, was drilled to test the interpretation (made from recent field observations) that multiple mineralised zones could exist between the eastern Sanankoro structure (hanging wall) and the western Bokoro structure (footwall) of the Sanankoro Main Shear Zone ('SMSZ'). The zone's approximate width is 450m. Within hole SC0708, two mineralised zones (from 27m, 19m at 0.66 g/t Au; and from 70m, 11m at 0.34 g/t Au) were intersected in a Tuffaceous unit, with a potential third zone commencing at the end of the hole (120m). The last metre interval intersected sulphide rich quartz veins, assaying, 1m at 2.87 g/t Au.

This hole highlighted and proved the exploration concept that multiple other mineralised zones exist within the SMSZ and not just along the hanging wall and footwall structures (i.e. Sanankoro and Bokoro structures respectively) where the Mineral Resources are currently defined.  Importantly, none of these new mineralised zones are included in the 2022 MRE nor the 2024 MRE update. As evidenced by the artisanal workings, these new Zone B West zones of mineralisation are open to the north for over 500m, towards Zone B North (see Figure 2 below) and can be seen to extend for another 500m to the south, towards Zone A. Additionally, there remains another 300m of width across the SMSZ to be drilled tested as more mineralised zones are interpreted to exist as part of this large, mineralised shear zone, which if proved correct through further drilling could result in further Mineral Resources being delineated.

Optimisation Studies

The focus of further exploration is to expand Sanankoro's Oxide Reserve inventory to reduce the strip ratio below the existing 4.6:1, to further enhance the mine's attractiveness as highlighted in the 2022 DFS  and Optimised Economics based on a US$1,750/oz gold price:

·    52.3% IRR

·    1.2 year payback period

·    6.8 years Reserve life

·    56koz average production

·    US$997/oz AISC

Based on the results of the updated 2024 MRE, and following conclusion of an ongoing optimisation study designed to enhance the 2022 DFS process design, Cora intends to update the Project's Ore Reserves and DFS, which given the now burgeoning gold price is expected to deliver material differences to the Project's key metrics.

Competent Person's Statement

The information in the MRE report that relates to Mineral Resources is based on information compiled by Sonia Konopa. Ms. Konopa is a full-time employee of ERM and is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Ms. Konopa consents to the disclosure of the information in the MRE report in the form and context in which it appears. Ms. Konopa assumes responsibility for matters related to Section 1, 2 and 3 of JORC Table 1 within the MRE report.

The technical information in this release that relates to Exploration Results and Exploration Target was reviewed and approved by Murray Paterson, in his capacity as a Competent Person, as required under the AIM Rules for Companies. Mr. Paterson is the Chief Geologist for the Company and is a member of good standing with the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Paterson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Paterson consents to the inclusion in this release of the Exploration Results and Exploration Target in the form and context in which it appears.

Market Abuse Regulation ('MAR') Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ('MAR'), which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement.

**ENDS**

For further information, please visit http://www.coragold.com, follow us on social media (LinkedIn and X: @cora_gold) or contact:

Notes

Cora is a West African gold developer with de-risked project areas within two known gold belts in Mali and Senegal. Led by a team with a proven track-record in making multi-million-ounce gold discoveries that have been developed into operating mines, its primary focus is on developing the Sanankoro Gold Project in the Yanfolila Gold Belt, south Mali, into an open pit oxide mine. Based on a gold price of US$1,750/oz and a Maiden Probable Oxide Reserve of 422koz at 1.3 g/t Au, the Project has strong economic fundamentals, including 52% IRR, US$234 million Free Cash Flow over life of mine and all-in sustaining costs of US$997/oz. Alongside this, the Company continues to seek value opportunities across its portfolio and has identified large scale gold mineralisation potential at the Madina Foulbé exploration permit within the Kenieba Project Area of east Senegal.

APPENDIX    JORC CODE TABLE 1

Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.	The Sanankoro Gold Project Area is located in the Yanfolila Gold Belt of southern Mali. Sanankoro comprises five contiguous gold exploration permits, being: Bokoro II (expired August 2023; see Note A below) Bokoro Est (area 100 km2; expiry date 18 September 2028) Dako II (area 44.66 km2; expiry date 31 December 2027) Kodiou (expired May 2023; see Note B below) Sanankoro II (84.11 km2; expiry date 2 March 2030) In accordance with the 2019 Mining Code of the Republic of Mali, the 84.11 km2 Sanankoro II gold exploration permit was awarded to Cora Resources Mali SARL on 2 March 2021. Cora Resources Mali SARL is registered in the Republic of Mali. The duration of the permit is three years, renewable twice at the holder's request. The duration of each renewal period is extended to three years and, as such, the full-term expiry date of the Sanankoro II gold exploration permit is 2 March 2030.           A gold exploration permit over the same area as that covered by the Sanankoro II gold exploration permit was previously held by Sankarani Ressources SARL. This permit expired on 1 February 2020, having been initially awarded on 1 February 2013. Cora Resources Mali SARL is a wholly owned subsidiary of Sankarani Ressources SARL which in turn is a 95% subsidiary of Cora Gold Limited. Sankarani Ressources SARL is registered in the Republic of Mali. Cora Gold Limited is registered in the British Virgin Islands. The residual 5% interest in Sankarani Ressources SARL may be acquired from a third party for the sum of US$1 million. In addition, the Sanankoro II permit is subject to a third party 1% net smelter return (NSR) royalty. All fees due to the government in respect of the Sanankoro II gold exploration permit have been paid and the permit is in good standing.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Exploration activities on the original Sanankoro permit by previous workers have included geological mapping, rock chip sampling, termite sampling, trench sampling geophysical surveys and surface drilling - auger, RAB, AC, RC, and DD. There were two previous companies who conducted work at Sanankoro, i.e. Randgold Resources Ltd (Randgold) between 2004 and 2008 and Gold Fields between 2008 and 2012. During 2004 to 2008, Randgold conducted successive programs of soils and termites geochemical sampling on iterative 500 m, 200 m and 100 m grids. Broad blocks of gradient array induced polarisation (IP) were completed to assist drill targeting on the broad regional-scale surface anomalies. They drilled broad spaced 400 m x 100 m auger and RAB fences in search for bedrock targets. During 2008 to 2012, Gold Fields conducted infill soils and termite sampling down to 100 m x 25 m resolution. They conducted large blocks of regional gradient array IP and three main phases of drilling ranging from 400 m x 100 m RAB with follow-up AC down to 50 m x 25 m RC and RC with DD tails, dependent upon results discovered. Cora acquired the Sanankoro Permit in April 2017 and started exploration termite sampling in May 2017.
Geology	Deposit type, geological setting, and style of mineralisation.	Sanankoro is located on the leading western edge of the Yanfolila-Kalana Volcanic Belt, which is the western-most expression of the cratonic Baoulé-Mossi domain, on the major transcrustal margin with the Siguiri Basin. There is major deep-seated architecture across the district which links the major gold mines at Siguiri, Lero, Tri-K, Kalana and Yanfolila. On a project scale, Sanankoro is characterised by the 2 km wide Sanankoro Shear Zone, which can be traced over 30 km from Kabaya South in the western Yanfolila Mine to north of the Niger River beyond Selin and onto Karan. Within the project area, each of the prospects are underpinned by a strong linear parallel, and where strong mineralisation is developed, a pronounced localised northeast-southwest focused zone of en-echelon veining and associated sulphide development. There are five main areas which currently define the Sanankoro Gold project, which in order of significance are Selin, Zone A, Zone B, Zone B North, and Zone C. Selin is hosted on the eastern margin of the Sanankoro Shear Zone in the north-eastern corner of the Sanankoro permit. The Selin deposit has a typical interference node control but with the additional positive impact of a strong, rheological diorite intrusive host. The gold geology at Selin is anchored along this linear, en-echelon or possibly folded, diorite igneous intrusive which cores the volcaniclastic thrust assemblage and focuses the gold deposition. Recent core drilling into Selin has enlightened the genetic model for the deposit by discovering four to six multiple early/pre-D3 dykes of diorite intruding the 65-80° west dipping axial trace of a western hangingwall F3 anti-form on this major reactivated D2 east-verging thrust. The >100 m wide Selin Shear Zone may be a regional back-thrust and the dominant eastern margin of the regional west-verging Sanankoro Thrust. The largest diorite unit is demonstrably discordant and sits immediately west and adjacent to a major early ductile, 10-30 m wide footwall carbonaceous shear. Progressive deformation has folded, warped and possibly cross-faulted the diorite units prior to gold deposition. The early footwall shear fabrics are overprinted by later semi-brittle to brittle graphitic faults which locally convert all protolith to graphitic schist on sub-metre scale. The diorite units exhibit multi-phase veining interference and sulphide development. The dominant sulphide is pyrite with occasional arsenopyrite and a scattering of chalcopyrite. Alteration minerals are predominantly sericite, silica, fuchsite, ankerite, graphite and calcite. Zone A is located at the southern limit of the 11.5 km mineralised corridor, which forms the Sanankoro Project. Zone A is the southern-most expression of the 010° trending central axis of the Sanankoro Shear Zone, which sits 900 m west of the Selin Boundary Shear and hosts the 5.8 km chain of open pit resources from Zone A through Zone B1, B2, B3 to Target 3. The deposits of this central trend verge westward mimicking the regional sense of thrusting. Zone B is the strike extension of Zone A, located 800 m to the north. The Sanankoro Main Trend runs for 6 km from south end of Zone A to the north end of Target 3. Detailed sectional drilling is required along the length of this major generative gold system. The local structural facing and stratigraphy of Zone B is very similar to Zone A with the western footwall sequences hosting more crystalline volcanic tuffaceous units and the eastern, hangingwall assemblages being more basinal sediments. Zone B hosts an impressive scale of hydrothermal activity and the broad horizontal widths of mineralisation observed in the recent drilling bodes well for future discovery potential along the central and southern sections of the Sanankoro Main Shear Zone. Zone C is located 650 m southwest of Zone A on the parallel, >7 km long Sanankoro West Shear Zone (SWSZ) which can be traced along a chain of surface workings to the Excavator Prospect, 1.5 km north-northwest of Target 3. The SWSZ is high in the priority list for drilling in the 2022 program and a number of SWSZ targets, beyond Zone C, will be tested for surface potential. Zones A, B and C deposits are identical in style and typical of Siguiri Basin deposits, fold-thrust controlled within pelitic and psammitic sediments and very deeply weathered (>120 m from surface). There is a highly evolved weathering profile with a pronounced 8-10 m thick duricrust-laterite ferro-cap, grading downward into a well-developed mottled zone to 20-25 m depth and remains highly weathered until beyond 140 m vertically within the central mineralised fault zone. Zone B1 has extremely deep weathering with shallow oxide densities measured to depths of 190 m down-dip within the ore zone trough. All the host oxide lithologies are weathered to kaolin with only highly corroded quartz vein material remaining in-situ to mark the main gold faults. Diamond core shows the host lithologies to be predominantly variably grained basinal pelites and sandstones with minor horizons of small quartz clast, matrix-supported greywacke inter-bedded within the sequence. A minor intercept of diorite has been identified but does not form an important control to the mineralisation currently drill tested at Zone A or C. The primary sulphide is pyrite disseminated around central vein networks and enveloped by a broader hydrothermal halo of silica flooding, sericite and ankerite.
Drillhole information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drillholes: ·    easting and northing of the drillhole collar ·    elevation or RL (Reduced Level - elevation above sea level in metres) of the drillhole collar ·    dip and azimuth of the hole ·    downhole length and interception depth ·    hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Significant intercepts that form the basis of the MRE have been released in previous announcements (available on the Cora website) with appropriate tables incorporating Hole ID, Easting, Northing, From, Depth and Intercept Assay Data. Appropriate maps and plans accompany this MRE. Previous drilling completed by Cora, Gold Fields and Randgold is documented herein. A complete listing of all drillhole details is not necessary for this report which describes the Sanankoro Gold Project Mineral Resources and in the Competent Person's opinion the exclusion of this data does not detract from the understanding of this report. The 2021 program twinned important historical Goldfields and early Cora, smaller diameter, air core and RC intercepts. Historical Energold DD NQ core holes exhibited sections of unacceptably poor recoveries, especially in the deeply oxidised deposits of Zone A and Zone B1, which were twinned using the deep RC rig. The 2022 program focussed on infill drilling at Zone B North and Selin, and targeted Fode 1 and Target 6 as potential sites of interest. The 2023 program focussed on infill drilling at Zone A and Selin, with a single drillhole into Zone B.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	All RC intersections are sampled and assayed on 1 m intervals but could be composited up to 4 m in areas interpreted to be barren. DD core sampling can be 0.5-1.5 m in length depending on geological contacts. Significant intercepts have previously been reported using a cut-off grade of 0.5 g/t, without top cuts. Mineralised intervals are reported with a maximum of 3 m of consecutive internal dilution of less than 0.5 g/t Au. Mineralised intervals are reported on a length-weighted average basis. No metal equivalents are reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported. If it is not known and only the downhole lengths are reported, there should be a clear statement to this effect (e.g. 'downhole length, true width not known').	The orientation of the mineralised zone has been established and majority of the drilling was planned to intersect the mineralised structures orthogonally or as close as practicable. Existing artisanal workings, buildings, sacred sites and drainage sometimes created obstacles which prevented perfect intersection and some holes were required to be drilled at less-than-ideal orientations. For the bulk of drillholes, site preparations were carried out and 50 m by 25 m drill spacing applied and acceptable intersection orientations were achieved.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	The appropriate plans and sections are included in this document.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Not applicable as no Exploration Results are being reported in this document.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	Detailed metallurgical test work has been carried out as part of a previous scoping study. Testwork shows that the ore is amenable to conventional crushing, grinding, gravity and carbon-in-leach processing. Oxide recoveries have been determined to be >95%. 1,068 detailed dry bulk density determinations were conducted on all 2021 drilled core. 589 detailed UCS point load determinations were conducted on all drilled fresh core. Detailed geotechnical logging and analysis was conducted on all drill core. Detailed regional exploration programs continue to generate new drill targets which will feed into potential Mineral Resource growth.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Detailed ESIA studies commenced in Q2 2020 and stakeholder engagement meetings conducted throughout the period to date. A program of detailed hydrology and civil geotechnical drilling is planned for water management, tailings storage facility and plant sites. Detailed variability metallurgical testwork is planned at ALS Perth to support a feasibility study. Detailed open pit and civils geotechnical studies are planned to support a feasibility study. Detailed hydrology studies are planned to support a feasibility study. Additional Mineral Resource, Ore Reserve and grade control pattern drilling is planned to update Ore Reserve designs prior to commencement of mining.

Section 3: Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section)