Slide 1: Interpretation of Clarke Aircore Results
INTERPRETATION OF CLARKE AIRCORE RESULTS AUGUST 2022
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR To the extent available, the industry, market and competitive position data contained in this expectations concerning, among other things, the Company's results of operations, financial DISTRIBUTION, IN WHOLE OR IN PAR
Slide 3: Review of Previous Works
REVIEW OF PREVIOUS WORKS Au & REE Open EXCLUSIVE RARE EARTH OCCURENCE Discovered in Nov-21 Clarke gold-focused RC drilling programme Low-cost re-analysis of retained pulps defining extensive REE mineralisation 4 km2 of defined clay hosted rare earth mineralisation overlaying gold mineralisation REE
Slide 4: June-22 Aircore Drilling Programme
JUNE-22 AIRCORE DRILLING PROGRAMME Low-cost, low-disturbance drilling technique Test saprolite zone for rare earth mineralisation Multi-element pathfinder chemistry of basement for gold and base metal mineralisation Multi-value return from a single dataset June-22 programme – 91 holes ~4,000m across
Slide 5: Clarke – Rapidly Expanding Gold Footprint
CLARKE – RAPIDLY EXPANDING GOLD FOOTPRINT CBAC0020 REPORTED RESULTS 12m at 1.25 g/t incl. CBRC0050 6m at 2.29 g/t 33m at 1.03 g/t incl. 9m at 2.09 g/t Received results for 29 of 36 holes drilled at Clarke CBRC0043 96m at 0.55 g/t incl. Results from an additional 62 holes remaining 20m at 1.5 g/t CBR
Slide 6: Clarke – Complementary Clay Hosted Rare Earths
CLARKE – COMPLEMENTARY CLAY HOSTED RARE EARTHS REPORTED RESULTS 89% of 29 holes received yield significant intersections >500 ppm TREO Weighted average intersection of 13.3m at 934 ppm TREO, TREO- Ce 609 ppm Magnet REO average 24% of the TREO Scandium Oxide average is 30 ppm, offers additional value
Slide 7: Thompson and Anderson Priority IAC REE Targets
THOMPSON AND ANDERSON PRIORITY IAC REE TARGETS REGIONAL SCALABILITY Average Intersection REO assemblage by Prospect – re-analysis only Thompson and Anderson favourable REE basket 1000 assemblages 900 800 Average of Clays supportive of ionic adsorption style other HREO 700 mineralisation 600 Average
Slide 8: Outstanding Results
OUTSTANDING RESULTS INDICATIVE NEWSFLOW Aug-22 Results 62 Aircore Holes Results of Loupe TEM Survey Sep-22 RC Drilling Thompson REE Re-analysis Interim Results Oct-22 RC Drilling Results Clarke CSMAT Survey Dec-22 Resource Update
Slide 9: 2022 Work Programme
2022 WORK PROGRAMME
Slide 10: Work Schedule
WORK SCHEDULE LOW-COST HIGH-VALUE STRATEGY Wudinna Project Works Programme Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Programme Rehabilitation Pulp Reanalysis Stage 1 - 2020 RC drilling Preliminary Results Stage 2 - Clarke Regional Stage 3 - Baggy Green Regional Stage 4 -
Slide 11: cobraplc.com, Greenhill Road, Eastwood SA
cobraplc.com 213 Greenhill Road Eastwood SA 5063 Australia