Slide 1: Wudinna Project Update
WUDINNA PROJECT UPDATE 3-Pronged Strategy In Play: Gold + IOCG + Rare Earths DECEMBER 2021
Slide 2: Disclaimer
Disclaimer 1 THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR RELEASE, accounting, financial, credit and other related advice prior to making an Company Act of 1940, as amended. PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR investment. INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES O
Slide 3: Investor Snapshot: Prime Location Project
Investor Snapshot London Stock Exchange: COBR Prime Location Project Diversified Portfolio • Underpinned by existing JORC gold resources • Proven near-term resource growth potential • 22 unexplored calcrete gold prospects • IOCG targets in IOCG heartland of South Australia - potentially transformati
Slide 4: Operating Timeline | 12 Month Outlook
Operating Timeline | 12 Month Outlook 3 RC drilling IOCGs 1-3 and Geochemistry follow-up targets regional gold & RC Results Analysis & Au & REO IOCG targets Resource update REO test work & re-assay Structural survey Ground gravity orogenic Au targets IOCG 4-5 H1 2022 H2 2022
Slide 5: Strategic Exploration | Delivering Results to Date
Strategic Exploration | Delivering Results to Date 4 Nov-20 Sep-21 Nov-21 RC Drilling Campaign Pathfinder Programme Clark RC Drilling Campaign • RC programme 41 holes/6,090m • Executed 976-hole Air Core saprolite sampling • 14 holes/2,163m • Significant mineralisation intersected programme • Increas
Slide 6: Value Add Approach
Value Add Approach 5 The adopted exploration approach for the Wudinna Project is designed to provide shareholders with strategic exposure to a range of exploration targets, comprised of three components: Greenfield exploration of highly prospective IOCG targets • Pipeline of maturing anomalies suppo
Slide 7: Exploration Results to Date
6 • Hole CBRC0043: 96m at 0.55 g/t Au from 30m - including 20m at 1.5 g/t Au from 88m 2021 • Hole CBRC0042: 19m at 0.79 g/t Au from 83m - including 5m at 2.62 g/t Au from 95m Exploration • 35% of gold samples received (Dec 2022) Results to Date • The metrics of the broad, low-grade mineralisation en
Slide 8: Rare Earth Potential - A High Value Dual Resource
7 • Hole CBRC009 re-analysis: 20m at 550.5 ppm Total Rare Earth Oxides (TREO) from 30m - Rare Earth including 8m at 875 ppm TREO from 31m Potential • Enriched in critical magnet elements (>30%) - A High Value • Confirms the potential for a dual resource Dual Resource • The combined gold and overlyin
Slide 9: Potential Value - REO Basket with Defined Upside
• Potentially significant economic value associated with the REO mineral assemblage defined at 8 Clarke Potential Value • Mineral basket value is improved with elevated magnet minerals - REO Basket • Nd, Pr, Tb and Dy are elements used to produce high-strength permanent magnets • These magnets are l
Slide 10: Market Growth Potential
• Unique project within a Tier 1 mining jurisdiction 9 Market Growth • Low cost exploration – re-analysis and by-product of current exploration Potential • Complementary to existing gold resource – increased project feasibility • Dual commodities from a reduced environmental footprint • At present,
Slide 11: Rare Earth Minerals | A Unique Opportunity
Rare Earth Minerals | A Unique Opportunity 10 The Rare Earth Market Wudinna Project Market Ionic Adsorption Clay (IAC) deposit mineralisation REO basket within intercept is high in magnet Peers is highly desirable providing it produces a balanced rare earths. Market peers generating considerable bas
Slide 12: IOCG Targets Confirmed Potential
IOCG Targets Confirmed Potential
Slide 13: IOCG Targets - Validated Exploration Model
12 Geological Domain IOCG Targets • World-class Gawler Craton - Validated • Margin proximity to the southern Gawler Range Volcanics Exploration • Discrete magnetic anomalies proximal to a significant Hiltaba Suite granite emplacement Model • Regional calcrete copper anomaly • Broad scale regional gr
Slide 14: Ground Gravity Concept Validation
13 • IOCG target 1: high intensity gravity anomaly, sourced to the immediate west of a nearby Ground Gravity magnetic anomaly Concept • IOCG target 2: strong coincident gravity and magnetic anomaly Validation • IOCG target 3: strong gravity anomaly adjacent north of a large area of elevated magnetic
Slide 15: Target 1 - Non-coincident Anomaly
14 Key Features Target 1 • High intensity, bullseye gravity anomaly - Non-coincident • Non-coincident to the nearby magnetic anomaly Anomaly • High-density contrast (0.69g/cc) supportive of IOCG gravity signature supportive of a hematite rich IOCG host breccia complex • Dimensions of 330m in length
Slide 16: Target 2 - Coincident Anomaly
15 Key Features Target 2 • Near coincident gravity anomaly to a highly anomalous magnetic feature - Coincident • Magnetic susceptibility (0.22 SI) indicative of strongly elevated magnetite content directly Anomaly contributing to the observed gravity response • Depth to target ~60m • Elevated copper
Slide 17: Target 3 - Divergent Anomaly
16 Key Features Target 3 • Moderate gravity anomaly not directly associated with a coincident magnetic anomaly - Divergent • Moderate density contrast (0.3g/cc) to surrounding geology Anomaly • Pathfinder drilling south of gravity anomaly elevated in tellurium and bismuth • Geophysical similar to Oa
Slide 18: Summary | 3-Pronged Strategy In Play
Summary | 3-Pronged 17 Strategy In Play Gold • Existing 211,000 oz gold JORC Mineral Resource Estimate • Defined extension anomalies and 22 untested calcrete anomalies • Pathway to 1 million oz resource Rare Earths • Market advantage: potential to be a sole complementary IAC and gold resource • Favo