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GRANGE RESOURCES LIMITED. Annual Report 2021

Mar 30, 2021

65014_rns_2021-03-30_3deb073e-5863-4649-91b7-530779bb757c.pdf

Annual Report

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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31 March 2021 ASX: GRR.

GRANGE RESOURCES LIMITED

Australia’s most experienced magnetite producer Update to Savage River Mineral Resources and Ore Reserves December 2020 Resource - Reserve Statement

Savage River Operations, Tasmania

HIGHLIGHTS

  • Mineral Resources & Ore Reserves have been estimated for Grange’s Savage River magnetite deposits in Tasmania, as at 31 December 2020.

  • Mineral Resources have increased to 497.5MT@ 45.8%DTR.

  • This increase of 7.6MT from the previous statement is driven by completion of phase three of the 2020 underground drill program.

  • Ore Reserves at Savage River are 107.7MT @ 47.2%DTR, reflecting mine production during 2020 and are based on future open pit extraction.

  • The 5.5MT decrease in Ore Reserve from the previous statement is attributed to mining depletion.

  • This release encompasses the estimation updated with the third phase of the 2019/20 underground resource drilling program and includes mining depletion since the 2019 report.

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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The resource consists of 497.5 million tonnes at 45.8% DTR (above a cut-off of 15% DTR) as detailed in table 1 and the reserve consists of 107.7 million tonnes at 47.2% DTR (above a cut-off of 15% DTR) as detailed in table 2.

Table 1 Savage River Mineral Resource Estimate

Measured
Resources
Indicated
Resources
Inferred
Resources
TOTAL
Resources
Tonnes (Mt) 163.6 188.7 145.2 497.5
DTR (%) 54.3 43.0 39.5 45.8
Fe (%) 67.8 68.1 68.9 68.2
Ni (%) 0.04 0.05 0.04 0.04
TiO2 (%) 0.82 0.69 0.62 0.71
MgO (%) 1.79 1.41 1.11 1.45
P (%) 0.010 0.009 0.008 0.009
V (%) 0.36 0.34 0.35 0.35
S (%) 0.08 0.11 0.09 0.09
  • Elemental compositions were measured from Davis Tube Concentrate

  • Above a cut-off grade of 15% DTR

  • Stockpiles were included in this summary table and are itemised separately in tables of individual mining pits and aggregated stockpiles

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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Table 2 Savage River Ore Reserve Estimate

Proved
Reserves
Probable
Reserves
TOTAL
Reserves
Tonnes (Mt) 61.6 46.1 107.7
DTR (%) 51.6 41.3 47.2
Fe (%) 68.0 67.9 67.9
Ni (%) 0.03 0.05 0.04
TiO2 (%) 0.90 0.61 0.78
MgO (%) 1.73 1.55 1.65
P (%) 0.010 0.010 0.010
V (%) 0.36 0.37 0.37
S (%) 0.05 0.11 0.07
  • Elemental compositions were measured from Davis Tube Concentrate

  • Above a cut-off grade of 15% DTR

  • Stockpiles were included in this summary table and are itemised separately in tables of individual mining pits and aggregated stockpiles

The Mineral Resource and Ore Reserve have been estimated by the company’s technical staff assisted by external consultants and are reported in accordance with the guidelines of the JORC Code (2012 edition).

Independent technical reviews were performed by AMC Consultants Pty Ltd (AMC) in 2019 & 2020 regarding the resource estimation process and the reserve estimation of Centre Pit. AMC considers, based on the available information, Mineral Resource estimates have been completed using accepted practice.

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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INTRODUCTION

This document has been prepared to summarise the Mineral Resource and Ore Reserve of Grange Resources’ magnetite deposits, located at Savage River and Long Plains in Tasmania.

This statement covers the material remaining at the end of December 2020 and contains summary details on the history of Savage River, the geology of the deposit and information involved in producing Mineral Resource and Ore Reserve estimates.

LOCATION

The Savage River Mine and concentrator plant are located approximately 100km south west by sealed road from Burnie. The pelletising plant and dedicated port facilities at Port Latta are located 70 kilometres northwest by sealed road from Burnie (Figure 2).

Local topography surrounding the mine is rugged, with incised valleys and steep hills. The west flowing Savage River dissects the deposit. Regional vegetation includes undisturbed rain forest with the mine area comprising wet eucalypt, acacia and open heath land. Climate is wet temperate with an average annual rainfall of 1,950mm and mean monthly temperatures ranging from 3-19°C.

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Figure 1 Savage River Project Location

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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TENURE

Grange Resources operates under the conditions of Mining Lease 2M/2001 which consolidates and expands the previous lease 11M/97. This lease stands for 30 years from 2001, encompassing a total of 4,975 hectares.

The mining lease encompasses the Savage River Mine and concentrator, and the pelletising plant, wharf and shipping facilities located on the north west coast at Port Latta. The operation and facilities were previously held under Mining Lease 44M/66 when Pickands Mather & Co International (PMI) were the managers of the project until 1997.

Mining lease 14M/2007 was granted in May 2008 to extend the coverage of 2M/2001 for a total of 91 hectares. Another lease, 11M/2008 was granted in August 2009 to extend coverage by a further 108 hectares. This lease was renewed 18 Dec 2017 and expires in 2031. 4M/2019 (235Ha) was granted 17 August 2020 and expires 7/10/2031.

Exploration licence EL30/2003 was granted in February 2010. The current 2 year tenure period expires on the 18 June 2021, is renewable via a

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Figure 2: Tenements as at Dec 2020

successful extension of term application. Grange is currently on its sixth extension of term and an application for a further extension will be made prior to the renewal date. This license covers the entire Long Plains deposit. The lease comprises 38 sq km and adjoins 2M/2001 to the north. EL30/2003 covers all potential mining infrastructure sites and haulage routes envisaged should the Long Plains magnetite deposits prove up to be economical and progress to mining.

Grange was granted an exploration licence application “Pipeline Road” shown as EL8/2014 for an 11sq km lease north of 2M-2001 in 2014 and this licence is currently on its second extension of term which expires on 29 July 2021. An application for a further extension for EL30-2003 and EL8-2014 will be made 3 months prior to the renewal dates.

All leases and licences previously held by Australian Bulk Minerals (ABM) were transferred to Grange Resources Tasmania following the merger in January, 2009.

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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PROJECT HISTORY

Ironstone outcrops around the Savage River were first discovered by State Government surveyor C.P. Sprent in early 1887 during one of his exploration journeys through western Tasmania. The deposits were first reported as a possible source of iron ore in 1919.

Systematic exploration techniques were employed by the Australian Bureau of Mineral Resources during 1956 that included ground and airborne magnetic surveys. The largest magnetic anomaly was detected at Savage River with two smaller anomalies being detected at Long Plains and Rocky River further to the south (Figure 3).

Diamond drilling commenced during the late 1950’s and into the 1960’s largely by Industrial and Mining Investigations Pty Ltd (IMI).

In 1965, Savage River Mines Ltd, a joint venture of Australian, Japanese, and American interests was formed to develop the project. PMI (Pickands Mather International) developed an open cut mine, concentrator plant and township at Savage River to access the magnetite reserve. A pipeline from the concentrator plant to the pelletising plant and dedicated port facilities at Port Latta located on the northwest coast were also constructed.

Mining commenced in 1967 to supply a consortium of Japanese steel mills with 45 million tonnes of pelletised iron ore over a twenty-year period. Annual pellet production reached a maximum of 2.4 million tonnes per annum during the period.

The Savage River Project was operated for the full term of a thirty-year lease by PMI. In early 1997, PMI ceased mining activities at Savage River, transferring ownership of the Savage River Project to the Tasmanian Government on March 26, 1997.

At the end of March 1997, ABM purchased the assets of the Savage River Project from the Tasmanian Government. Following this purchase, ABM continued mining the existing pits through a series of cutback operations, mined the previously undeveloped South Deposit, and began exploration around the Long Plains area.

In January 2009 Grange Resources merged with ABM and has continued to operate the open pit operation and further develop the mineral assets.

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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GEOLOGY

The Savage River magnetite deposit lies within and near the eastern margin of the Proterozoic Arthur Metamorphic Complex in north western Tasmania. This complex is exposed along a northeast-southwest trending structural corridor, the Arthur Lineament, which separates Proterozoic sedimentary rocks to the northwest from a variety of Palaeozoic rocks to the southeast.

The magnetite deposits at Savage River represent the largest of a series of discontinuous lenses that extend in a narrow belt for some 25 kilometres south of the Savage River Township. The deposit is subdivided into sections on the basis of areas that have been mined. The areas are referred to as North Pit, South Lens, Centre Pit, and South Deposit (Figure 3).

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Figure 3: Savage River Regional Magnetics

Magnetite ore is almost entirely enclosed within a highly sheared and strike-faulted belt of mafic and ultramafic rocks specifically serpentinite and talc-carbonate schist. The magnetite ranges in thickness from 40 to 150 metres in width and is termed the Main Ore Zone (MOZ).

Narrow (<20metre) lenses and layers also occur in the mafic sequence to the west. The mafic sequence comprises chlorite-calcite-albite schist and layered green amphibole-chlorite-albite schist.

A suite of late, strongly deformed metabasalt and metadolerite intrusive dykes occur either subparallel to or cut obliquely across the MOZ. Vein magnesite occurs adjacent to the MOZ with significant bodies developed in the east at South Lens and at the west in North Pit.

The magnetite ores comprise three volumetrically important groups: pyritic ores, ores associated with serpentine and talc-carbonate ores. The ore may be massive, layered, or disseminated and range from being fine-grained to coarsely crystalline. Accessory mineral phases may include talc, tremolite, actinolite, chlorite, epidote, apatite and carbonate in varying amounts. The mineral assemblages preserved at Savage River imply middle to upper green-schist facies metamorphic conditions.

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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EXPLORATION, DRILLING, SAMPLING AND ANALYSIS

Exploration and resource definition over recent years at Savage River has involved dominantly reverse circulation (RC) and diamond drilling.

The resource definition during the last year ending December 31, 2020 focussed on the mining lease areas around North Pit The objectives of the program were to confirm continuity of the magnetite mineralisation at depth below North Pit. This statement incorporates the results of 6 holes drilled from the underground decline in 2020 totalling 3,416 metres.

The third phase of underground drilling is complete for North Pit and the model was re-estimated in June 2020. Further resource drilling is not planned at present in North Pit and the requirement is reassessed on an annual basis.

In addition to resource drilling, a large campaign of geotechnical drilling was conducted within the West Wall of North Pit in 2020. Twenty geotechnical holes were drilled in 2020 totalling 7,091m to inform geotechnical characteristics of the west wall for Life of Mine Planning.

Regarding the drilling program, core recoveries are generally high in the ore zones at Savage River (>90%) and there are no significant core recovery issues. Drill collars are surveyed using a combination of conventional surveying (total station) and/or high resolution RTK GPS.

All samples used in resource estimation are taken from diamond drill core of either HQ or NQ size or from reverse circulation drill holes employing a 140mm face sampling hammer. RC drilling has been used in recent years at Savage River to undertake infill drilling to improve confidence of domain boundaries and grade estimates.

Core was half core sampled as standard practice and rarely full core sampled to confirm historic drill intercepts or for metallurgical testing. Sampled length is generally between 0.75m to 2m within lithological units to preserve volume variance and to provide sample weights of 3kg. Reverse circulation drilling was used to give uniform 1m samples by cone or riffle splitter resulting in a 3kg sample. Field quality control procedures included insertion of prepared sample standards at a rate of 1:25 and limited field duplicate samples on the RC suite of samples.

Sample preparation techniques were industry standard for magnetite ores and used the sub-sampling protocol as recommended by the Savage River Laboratory. Sample preparation was conducted at an external NATA-accredited laboratory for both core and RC chips. The subsampling process for RC was identical to that of the core except for the coarse crush stage. For drill core, the core was first analysed for bulk density by immersion in water. All mineralised core samples have had a density determination completed. The half core samples were oven dried at 110 degrees for 12 hours, then coarse crushed to minus 2mm in a Boyd crusher then split to ~3kg, crushed again to 90% passing 1.7mm and split again with a 150g sub-sample taken for pulverising to 98% passing 75 microns.

A pulp sub-sample was collected analysed at Savage River’s mine lab by Davis Tube Recovery.

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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The primary assay technique is Davis Tube Recovery (DTR) on a 10g sample, followed by Ferrous Iron (Fe[2+] ) via Satmagan and S, total Fe, TiO2, MgO, V, P, S and Ni via XRF on the Davis Tube Concentrate (DTC) via XRF. All techniques are considered total. DTR is the most appropriate assay technique for determination of magnetite recovery. All DTR samples were completed on the mine site using the Savage River DTR technique. This technique has been used for 50 years and is supported by pit reconciliations.

All logging and assay data is stored in a database which was validated against original log sheets. The database includes holes drilled by Savage River Mines Limited, ABM and more recent holes drilled by Grange Resources.

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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GEOLOGICAL INTERPRETATION AND RESOURCE ESTIMATION

Geological controls and relationships were used to define estimation domains with mostly hard boundaries, based on sharp mineralisation contacts and grade boundaries. A nominal grade cut-off of 15%DTR is a natural grade boundary between magnetite lenses and disseminated wall-rocks. This cutoff was used to help define the mineralised envelope within which the higher-grade sub domains were interpreted. 3D wireframes were used to code the drilling intersects and select samples within each domain. The stage 3 drilling completed during 2020 beneath North Pit resulted in a modest 2% increase in volume from refinement of wireframes informed by the new underground drilling.

Sample data at Savage River were generally composited to 1 metre down hole length using a best fitcompositing method. Residual samples (those composite intervals for which there was less than 75% of the composite length) were considered biased and hence were not included in the estimate.

Block models were prepared for each part of the deposit using Surpac Software. Block sizes at Savage River are

  • North Pit: 5mE by 10mN by 5mRL parent block size with sub-celling to 2.5mE by 5mN by 2.5mRL for North Pit,

  • Centre Pit 5mE by 15mN by 5mRL parent block size with sub-celling to 2.5mE by 3.75mN by 2.5mRL

  • Long Plains were assigned a 10mE by 25mN by 10mRL parent block size with sub-celling to 1.25mE by 6.25mN by 2.5mRL owing to the thinner mineralised magnetite lenses at Long Plains.

Models were estimated using Ordinary Kriging for the main deposits with Inverse Distance Cubed weighting estimation techniques employed for the Sprent pit resource. Geostatistical analysis, including variography studies to develop spatial estimation parameters were prepared for each of the major areas of mineralisation by Xstract Consultants. These parameters were used to assist in the classification of the resource. The Xstract estimate completed in 2020 and used for this report validated the Optiro estimate from 2019.

Mineral Resources have been classified on the basis of confidence in geological and grade continuity using the drilling density, geological model, modelled grade continuity and conditional bias measures (kriging efficiency where available). Assessment for Reasonable Prospects of Eventual Economic Extraction (RPEEE) was undertaken and based on a review of mineable shapes by open cut or underground methods and economic viability at historical market highs. Areas below a pit shell with unlikely prospectivity or for extraction from underground with a true width less than 20m were manually removed.

Block model validation results show good correlation between the input data to the estimated grades. The mineralised domains have demonstrated sufficient geological and grade continuity to support the definition of a Mineral Resource, and classifications were applied under the guidelines of the JORC Code (2012 Edition).

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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There has been no material change to the Centre Pit Mineral Resource since the last statement.

There have been no changes over the last year to the Mineral Resources for the other deposits of Sprent, South Deposit and Long Plains.

Oxidised hematite mineralisation is not included in the any of the resource estimation.

Mineral Resources at the Savage River Mine including Long Plains are as at the end of December 2020. Mineral Resources are categorised in accordance with the guidelines established in the JORC Code (2012 Edition). Estimated Measured and Indicated Mineral Resources are inclusive of those Mineral Resources modified to produce the estimated Ore Reserves.

Some Mineral Resources such as, Sprent and Long Plains have not had the required level of studies completed to report any Ore Reserves associated with those deposits. They are considered to meet the Mineral Resource requirement of having reasonable prospects of future eventual economic extraction.

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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ORE RESERVES

Measured and Indicated Mineral Resources are considered for conversion to Ore Reserves, based on assessment against an optimised pit design and with respect to the modifying factors. The Mineral Resource is inclusive of the Ore Reserve.

The Ore Reserve estimation model for Savage River includes Mineral Resources from North Pit, Centre Pit and South Deposit, and was developed as part of a Feasibility Study that was completed in September 2006. A feasibility study on Centre Pit was completed in October of 2019.

Pit designs are based on optimised shells determined using Geovia Whittle software. The cut-off grade of 15%DTR was determined as part of feasibility studies and is reviewed periodically. Current mining and recovery factors are applied to account for mining practices of conventional bulk mining methods utilizing hydraulic face shovels, excavators, dump trucks and conventional drill and blast processes. These are based on reconciliations calculated periodically for the different areas of the deposit. Metallurgical factors are applied to account for mill performance. The overall pit slope criteria used for the design and optimization are based on ongoing geotechnical studies which are reviewed and updated on an annual basis as part of Grange Resource’s Life of Mine Planning process.

Estimates of Ore Reserves at the Savage River Mine are as at the end of December 2020. Ore Reserves are categorised in accordance with the guidelines established in the JORC Code (2012 Edition). Estimated Measured and Indicated Mineral Resources include those Mineral Resources modified to produce the estimated Ore Reserves. The following tables represent the Mineral Resource for each part of the deposit. In each case, elemental compositions were measured from Davis Tube Concentrate. A cut-off of 15%DTR was used in the calculation of Ore Reserves.

Between Dec 2019 and Dec 2020 Ore Reserves at North pit reduced by 5.4Mt to 76.0Mt, due to mining depletion. Proven Reserves reduced by 0.4Mt and Probable Reserves increased by 12.1Mt. This movement is owing to a decision to classify all ore reserves within the final west wall cut back of North Pit as meeting the lower confidence classification of a Probable Ore Reserve. This was taken due to lower geotechnical and economic confidence. This was based on recent geotechnical modelling work using new data and updates to economic evaluation including global assumptions which are conducted as part of Grange Resources’ annual Life of Mine planning process. Total North Pit Ore Reserves less mining depletion remain in line with previous reports.

The Tasmanian EPA has issued interim approval for the pre-stripping the first stage of Centre Pit with full approval anticipated in Q2,2021. Grange believes there are reasonable prospects of obtaining full approval covering the stated reserves given that the proposal is the cut back of an existing open pit. Guidance has been provided by the EPA and an Environmental Impact Statement has been drafted to address the requirements. As full approval has not yet been obtained Measured and Indicated Resources within the second and third stage of Centre Pit have been designated as meeting the Probable Ore Reserve Category. Once final approvals are received an update to the Ore Reserve confidence is expected.

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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MINERAL RESOURCE ESTIMATE BY DEPOSIT

The following tables represent the Mineral Resource for each part of the deposit. In each case, elemental compositions were measured from Davis Tube Concentrate. A cut-off of 15%DTR was used in the calculation of Mineral Resources.

Table 3 North Pit Mineral Resources December 2020

Measured
Resources
Indicated
Resources
Inferred
Resources
TOTAL
Resources
Tonnes (Mt) 117.9 87.8 39.3 245.0
DTR (%) 56.4 42.8 44.9 49.7
Fe (%) 67.7 67.8 68.3 67.8
Ni (%) 0.04 0.05 0.05 0.05
TiO2 (%) 0.96 0.89 0.82 0.91
MgO (%) 1.99 1.69 1.42 1.79
P (%) 0.010 0.010 0.010 0.010
V (%) 0.35 0.33 0.34 0.34
S (%) 0.05 0.08 0.09 0.07

Changes in resource for 2020 include an increase in Measured and Indicated Resources of 11.4Mt and 6.1Mt respectively and a reduction of Inferred Resources by 9.1Mt due to increased confidence provided by the phase 3 underground drilling.

Table 4 South Deposit Mineral Resources December 2020

Measured
Resources
Indicated
Resources
Inferred
Resources
TOTAL
Resources
Tonnes (Mt) 2.6 6.6 9.0 18.2
DTR (%) 38.3 42.3 41.7 41.4
Fe (%) 67.1 67.6 67.5 67.5
Ni (%) 0.07 0.06 0.06 0.06
TiO2 (%) 0.58 0.70 0.66 0.66
MgO (%) 1.99 1.79 1.74 1.79
P (%) 0.010 0.007 0.008 0.008
V (%) 0.26 0.26 0.26 0.26
S (%) 0.13 0.13 0.15 0.14

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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Table 5 Centre Pit Mineral Resources December 2020

Measured
Resources
Indicated
Resources
Inferred
Resources
TOTAL
Resources
Tonnes (Mt) 41.3 66.8 14.4 122.5
DTR (%) 51.8 46.7 44.9 48.2
Fe (%) 68.3 68.3 68.3 68.3
Ni (%) 0.05 0.05 0.04 0.05
TiO2 (%) 0.43 0.45 0.43 0.44
MgO (%) 1.21 1.21 1.03 1.19
P (%) 0.009 0.010 0.010 0.010
V (%) 0.40 0.37 0.33 0.37
S (%) 0.16 0.15 0.17 0.16

Table 6 Sprent Mineral Resources December 2020

Measured
Resources
Indicated
Resources
Inferred
Resources
TOTAL
Resources
Tonnes (Mt) 0.0 2.1 0.3 2.4
DTR (%) 0.0 51.1 49.8 51.0
Fe (%) 0.0 69.6 70.8 69.8
Ni (%) 0.00 0.06 0.02 0.06
TiO2 (%) 0.00 0.50 0.18 0.46
MgO (%) 0.00 0.75 0.47 0.72
P (%) 0.000 0.008 0.010 0.008
V (%) 0.00 0.43 0.46 0.44
S (%) 0.00 0.27 0.06 0.24

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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Table 7 Long Plain Mineral Resources December 2020

Measured
Resources
Indicated
Resources
Inferred
Resources
TOTAL
Resources
Tonnes (Mt) 0.0 25.4 82.2 107.6
DTR (%) 0.0 33.9 35.6 35.2
Fe (%) 0.0 68.9 69.4 69.3
Ni (%) 0.00 0.05 0.03 0.03
TiO2 (%) 0.00 0.63 0.56 0.57
MgO (%) 0.00 0.91 0.92 0.91
P (%) 0.000 0.004 0.007 0.007
V (%) 0.00 0.33 0.36 0.35
S (%) 0.00 0.05 0.07 0.07

Table 8 Stockpile Mineral Resources December 2020

Stockpiles-Measured Tonnes (Mt) Grade (%DTR)
Crushed Ore 0.06 44.5
In-pit Broken stocks 1.72 29.2
Total 1.78 29.7

Table 9 Total Mineral Resources Savage River December 2020

Measured
Resources
Indicated
Resources
Inferred
Resources
TOTAL
Resources
Tonnes (Mt) 163.6 188.7 145.2 497.5
DTR (%) 54.3 43.0 39.5 45.8
Fe (%) 67.8 68.1 68.9 68.2
Ni (%) 0.04 0.05 0.04 0.04
TiO2 (%) 0.82 0.69 0.62 0.71
MgO (%) 1.79 1.41 1.11 1.45
P (%) 0.010 0.009 0.008 0.009
V (%) 0.36 0.34 0.35 0.35
S (%) 0.08 0.11 0.09 0.09

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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Figure 4 Total Resources Grade Tonnage Curve December 2020

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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ORE RESERVE ESTIMATE BY DEPOSIT

The following tables represent the Ore Reserve for each part of the deposit. In each case, elemental compositions were measured from Davis Tube Concentrate. A cut-off of 15%DTR was used in the calculation of Ore Reserves.

Table 10 North Pit Ore Reserve Estimate December 2020

Proved
Reserves
Probable
Reserves
TOTAL
Reserves
Tonnes (Mt) 53.6 22.4 76.0
DTR (%) 53.3 41.3 49.7
Fe (%) 67.8 67.2 67.7
Ni (%) 0.03 0.05 0.04
TiO2 (%) 0.96 0.83 0.92
MgO (%) 1.82 1.97 1.86
P (%) 0.010 0.010 0.010
V (%) 0.36 0.33 0.36
S (%) 0.04 0.08 0.05

Between Dec 2019 and Dec 2020 Reserves at North pit reduced by 5.4Mt to 76Mt. Proven Reserves reduced by 0.9Mt and Probable Reserves decreased by 4.4Mt. The change was due to mining depletion.

Table 11 South Deposit Ore Reserve Estimate December 2020

Proved
Reserves
Probable
Reserves
TOTAL
Reserves
Tonnes (Mt) 0.03 0.13 0.16
DTR (%) 37.7 39.7 39.4
Fe (%) 66.7 65.4 65.6
Ni (%) 0.05 0.06 0.06
TiO2 (%) 0.61 0.82 0.79
MgO (%) 1.46 1.37 1.39
P (%) 0.005 0.006 0.006
V (%) 0.31 0.33 0.32
S (%) 0.12 0.18 0.17

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
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Table 12 Centre Pit Ore Reserves - December 2020

Proved
Reserves
Probable
Reserves
TOTAL
Reserves
Tonnes (Mt) 6.2 23.6 29.8
DTR (%) 44.1 41.3 41.9
Fe (%) 68.6 68.5 68.6
Ni (%) 0.04 0.05 0.05
TiO2 (%) 0.49 0.41 0.43
MgO (%) 1.10 1.15 1.14
P (%) 0.006 0.010 0.009
V (%) 0.43 0.41 0.41
S (%) 0.13 0.14 0.14

Between Dec 2019 and Dec 2020 Ore Reserves at Centre Pit increased by 0.4Mt to 29.8 Mt due in updates to the pit design. The Ore Reserves for the second and third cut back of Centre Pit have been assessed as only meeting the Probable Reserves level due to government permitting and assessment processes that are in process. Full environmental approvals for Centre Pit are expected during 2021.

Table 13 Stockpiles Ore Reserves December 2020

Stockpiles-Measured Tonnes (Mt) Grade (%DTR)
Crushed Ore 0.06 44.5
In-pit Broken stocks 1.72 29.2
Total 1.78 29.7

34a Alexander St, Burnie Tasmania 7320

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Table 14 Total Ore Reserves Savage River December 2020

Proved
Reserves
Probable
Reserves
TOTAL
Reserves
Tonnes (Mt) 61.6 46.1 107.7
DTR (%) 51.6 41.3 47.2
Fe (%) 68.0 67.9 67.9
Ni (%) 0.03 0.05 0.04
TiO2 (%) 0.90 0.61 0.78
MgO (%) 1.73 1.55 1.65
P (%) 0.010 0.010 0.010
V (%) 0.36 0.37 0.37
S (%) 0.05 0.11 0.07

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
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MINERAL RESOURCE & ORE RESERVE GOVERNANCE

In accordance with ASX Listing Rule 5.21.5, governance of the development and management of Grange’s Mineral Resource and Ore Reserve is a key responsibility of Senior Management.

Granges senior staff designated with responsibility for internal review of the JORC Mineral Resources and Ore Reserves include:

  • Roger Hill – Senior Geology Manager

  • Matthew Anderson - Savage River Mine Manager

  • Nicholas van der Hout – Long term Planning Coordinator

  • Ben Maynard – General Manager Operations

These staff oversee the planning and implementation of exploration and resource evaluation programs. The evaluation process incorporates internal skills and knowledge in operation and project management, downstream processing, and commercial/financial areas of the business.

The General Manager Operations, in consultation with senior staff, facilitates the planning, monitoring, and the estimation and reporting of resources and reserves. The process is reviewed by an internal peer review team. External consultants are also utilised to supplement internal resources in the estimation process, with independent technical review undertaken as required.

Mineral Resource and Ore Reserve reporting is based on substantiated geological and mining assumptions and prepared in accordance with the Australasian Joint Ore Reserves Committee (JORC) Code 2012.

Grange reports Mineral Resources and Ore Reserves on an annual basis. Competent Persons named are members of the Australasian Institute of Mining and Metallurgy (AusIMM) and qualify as Competent Persons as defined in the JORC Code 2012.

COMPETENT PERSON STATEMENT

The information in this report that relates to Mineral Resources and Ore Reserves is based on information compiled by Mr Ben Maynard, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Maynard is a full-time employee, holds shares in Grange Resources, and is eligible to participate in short and long term incentive schemes.

Mr Maynard has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Maynard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

34a Alexander St, Burnie Tasmania 7320

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ABOUT GRANGE RESOURCES

Grange Resources Limited (Grange or the Company), ASX Code: GRR, is Australia’s most experienced magnetite producer with over 50 years of mining and production from its Savage River mine and has a projected mine life beyond 2035. Grange produces a high-quality iron ore pellet with low levels of impurities that support reduced environmental impacts for end users.

Grange’s operations consist principally of owning and operating the Savage River integrated iron ore mining and pellet production business located in the north-west region of Tasmania. The Savage River magnetite iron ore mine is a long-life mining asset. At Port Latta, on the north-west coast of Tasmania, Grange owns a downstream pellet plant and port facility producing more than two million tonnes of premium quality iron ore pellets annually.

Grange has a combination of spot and contracted sales arrangements in place to deliver its pellets to customers throughout the Asia Pacific region. In addition, Grange is a majority joint venture partner in a major magnetite development project at Southdown, near Albany in Western Australia.

Contacts

Investors:

Honglin Zhao, CEO Grange Resources Limited Phone: + 61 3 6430 0222 Email: [email protected] Website : www.grangeresources.com.au

-ENDS-

34a Alexander St, Burnie Tasmania 7320

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APPENDIX A - JORC TABLE 1 SAVAGE RIVER

Note: All comments refer to all deposits on the Savage River Mining Lease; comprising North Pit, Centre Pit North, Centre Pit South, Sprent and South Deposit (and to Long Plains on an adjacent exploration lease) unless individually identified as being related to a particular prospect.

SECTION 1: SAMPLING TECHNIQUES AND DATA

Criteria Sampling Techniques and Data Comments
Sampling • Nature and quality of sampling (e.g. cut channels, random
• The deposits were sampled using diamond drilling (DD) with limited Reverse Circulation (RC)
techniques chips, or specific specialised industry standard measurement
tools appropriate to the minerals under investigation, such as
down hole gamma sondes, or handheld XRF instruments, etc.).
These examples should not be taken as limiting the broad
meaning of sampling.
• Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
• Aspects of the determination of mineralisation that are
Material to the Public Report. In cases where ‘industry
standard’ work has been done this would be relatively simple
(e.g. ‘reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g
charge for fire assay’). In other cases more explanation may be
required, such as where there is coarse gold that has inherent
sampling problems. Unusual commodities or mineralisation
types (e.g. submarine nodules) may warrant disclosure of
detailed information.
pre-collaring. Drilling was conducted on approximately 50-100m spaced sections orientated
perpendicular to the overall orebody strike. On section spacing (down-dip) varies but is
commonly 50-70m. The mineralisation is sub-vertical, and the holes are typically inclined at -
60°.
• All recent samples are assayed for DTR, Fe2+, Total Fe, Ni, TiO2, MgO, P, V, S, CaO, SiO2and
Al2O3.
• The drill hole locations are surveyed and down-hole surveys were completed.
• Diamond core was used to obtain the best possible sample quality for lithology, structural,
grade and density information.
• Drilling of Diamond core was a combination of HQ and NQ sizes, some triple tube. All resource
drilling has been drilled with triple tube equipment since 2005.
• Samples were controlled based on geological contacts and generally no more than 2m in
length. Sample selection was nominally >=0.75m and <=1.25m.
• All core samples were half cored. Core was split by diamond sawing.
• Samples were dried, crushed, split and pulverised to nominally 98% passing 75µm for Davis
Tube Recovery (DTR) determination.
Drilling
techniques
• Drill type (e.g. core, reverse circulation, open-hole hammer,
rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core
diameter, triple or standard tube, depth of diamond tails, face-
sampling bit or other type, whether core is oriented and if so,
by what method, etc.).
• Samples used in the resource estimation were taken from diamond drill core of either HQ or
NQ size or RC samples. (recent programs).
• 80% of holes informing the resource were diamond holes and 13% were reverse circulation
(RC) holes. 5% of the total were percussion holes (isolated to CP resource) and 2% other hole
types.

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Criteria Sampling Techniques and Data Comments
• RC pre-collars were used in only 16% of the Long Plains campaign 2011-2013 to reduce drilling
cost. RC was drilled to refusal and holes completed with diamond tails. (10 holes for 2,592m
drilling in 2012-3)
• Sonic pre-collars were used in the recent CP drilling campaign to penetrate waste dumps over-
lying the remaining ore in Centre Pit North. Sonic pre-collars were typically 50-80m in inclined
HQ3 diamond holes. (9 holes for 1,862m drilled in 2018)
• Where appropriate core was oriented using triple tube drilling techniques and employing
Reflex orientation system on drill rigs.
Drill sample
recovery
• Method of recording and assessing core and chip sample
recoveries and results assessed.
• Measures taken to maximise sample recovery and ensure
representative nature of the samples.
• Whether a relationship exists between sample recovery and
grade and whether sample bias may have occurred due to
preferential loss/gain of fine/coarse material.
• Core recoveries were recorded in the geotechnical logs and in the sample records.
• Core recoveries in the ore zones at Savage River are generally high (>90%) and there are no
significant core recovery issues. Drill core from the 2018-2020 drilling programs returned an
average of 97% core recovery.
• RC chip recoveries are also high. Recoveries below 80% have been recorded in the sample
sheets. These poorer recoveries were typically in very wet holes. Most RC holes terminate
when they encounter the water table and thereafter, diamond tails are utilised to finish the
hole.
• Drilling penetration rates were controlled in order to maximise recovery in ore zones.
• No relationship between sample recovery and grade is known at Savage River.
Logging • Whether core and chip samples have been geologically and
• Core samples from all deposits have been logged for lithology, mineralogy, alteration and
geo-technically logged to a level of detail to support
appropriate Mineral Resource estimation, mining studies and
metallurgical studies.
mineralisation.
• Geotechnical logging is undertaken routinely. detailed geotechnical logging is completed on
oriented holes. Holes since 2018 are fully geotechnically oriented, logged including domain
and structural defects. Logging is both qualitative and quantitative.
• The level of detail is sufficient to support Mineral Resource estimation, mining studies and
metallurgical studies.
• Whether logging is qualitative or quantitative in nature. Core
• Logging is a combination of qualitative and quantitative.
(or costean, channel, etc.) photography. • Core was photographed wet and dry. No photos were available for the oldest core.

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Criteria Sampling Techniques and Data Comments
• The total length and percentage of the relevant intersections
logged.
• All core and RC chips were fully logged.
Sub-sampling
techniques and
sample
preparation
• If core, whether cut or sawn and whether quarter, half or all
core taken.
• If non-core, whether riffled, tube sampled, rotary split, etc. and
whether sampled wet or dry.
• For all sample types, the nature, quality, and appropriateness
of the sample preparation technique.
• Quality control procedures adopted for all sub-sampling stages
to maximise the representativeness of samples.
• Measures taken to ensure that the sampling is representative
of the in situ material collected, including for instance results
for field duplicate/second-half sampling.
• Core was half core sampled as standard practice and rarely full core sampled in the very few
older holes.
• Core was cut using a diamond impregnated saw blade on site at the Savage River core farm.
• Core is cut on the centre axis and has no offset. The ore is relatively massive and the preferred
orientation for core sawing is just left of the orientation line and along the centre line for non-
oriented core. .
• RC samples passed through a cyclone with dust collector and were split at the drill rig using a
three stage riffle splitter or a rig mounted con splitter.
• Sample interval was 1m in recent programs and 2m in programs prior to 2000.
• For non-core, samples are dry riffled and sampled dry. When RC sample was damp, samples
were speared uniformly.
• Sample preparation techniques are industry standard for magnetite ores and use the sub-
sampling protocol as recommended by the Savage river laboratory.
• Sample prep on drill core drilled prior to 2011 was completed on site.
• Between 2011-2013 sample prep was completed at a commercial lab [NATA accredited].
• In 2013 the Savage River lab upgraded the crushers and ovens and since then all core has been
processed at the Savage River lab.
• As per standard operating procedure diamond core is dried and crushed according to Grange
standard operating procedure, Diamond core was dried overnight in an oven at 1100C,
crushed in a jaw crusher to 6mm, crushed in a Rolls crusher to 3mm.
• Since 2011 a Boyds crusher was installed in the lab enabling this comminution step to crush to
2mm. Following secondary crushing, the samples are riffle split to 2-3kg then a 150 gram
sample is pulverised using a Rocklabs 3 ring grinder.
• RC chips were riffle split at the rig when dry and a 3kg sample was taken for each single metre
drilled as described above. When RC sample was damp, samples were speared uniformly.
• Field QC procedures for RC and diamond samples involve the insertion of assay standards at a
rate of 1 in 25. Standards were derived from the 2006 MLEP drilling campaign and by
commercially prepared standards since then in North Pit Savage River.

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Criteria Sampling Techniques and Data Comments
• Whether sample sizes are appropriate to the grain size of the
material being sampled.
• No duplicates or blanks have been taken except 27 field duplicates taken in the 2006 MLEP
program which equates to 0.15% of all samples have duplicates and 0.4% have blanks.
Duplicate samples have not been taken as they are deemed of little importance in this deposit
due to the continuous nature of the mineralisation, very low nugget and long variography
ranges.
• The sample sizes are considered to be appropriate based on the style of mineralisation, the
thickness and consistency of the intersections and assay range for the primary analysis (%
recoverable magnetite concentrate).
Quality of assay
data and
laboratory tests
• The nature, quality and appropriateness of the assaying and
laboratory procedures used and whether the technique is
considered partial or total.
• For geophysical tools, spectrometers, handheld XRF
instruments, etc., the parameters used in determining the
analysis including instrument make and model, reading times,
calibrations factors applied and their derivation, etc.
• Nature of quality control procedures adopted (e.g. standards,
blanks, duplicates, external laboratory checks) and whether
acceptable levels of accuracy (i.e. lack of bias) and precision
have been established.
• The primary assay technique is Davis Tube Recovery (DTR) on a 10g sample, followed by
Ferrous Iron (Fe2+) via Satmagan and S, total Fe, TiO2, MgO, V, P, S and Ni via XRF on the Davis
Tube Concentrate (DTC).
• All techniques are considered total. DTR is the most appropriate assay technique for
determination of magnetite recovery.
• All DTR samples completed on site using Savage River technique. This technique has been
used for 50 years at Savage River and pit reconciliations are within accepted tolerance.
• Magnetic susceptibility instruments are used for initial geological logging to help the geologist
classify the logged interval as ore grade or waste.
• Grange uses TerraPlus KT-10 MagSus meters to classify ore and provide an indicative grade
estimate ahead of DTR analysis. Ore samples have sample prep, DTR and XRF determinations
done and these inform the resource estimate.
• No mag sus values are used in the resource estimate.
• Standards- Field assay standards are inserted at a rate of 1 in 25 in drilled core and RC through
ore zones.
• No field duplicates were analysed. Pulp duplicates have been collected for drillholes
completed between 2019-2020. Blank material is inserted into the drillcore sample stream at
a rate of 1:20 drill core samples. The blank material has been sourced from the Magnesite
Fault which is known to have no magnetic minerals present.
• Data analysis of standards has been performed and the data demonstrates sufficient accuracy
and precision for use in Mineral Resource estimation.
• Three Standards were derived from 2006 MLEP drilling campaign and a commercial standard
waspurchased in 2019 for use in the 2019-2020 drill campaign in North Pit Savage River.

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Criteria Sampling Techniques and Data Comments
Standards for recent Centre Pit and North Pit drill campaigns (2013 onwards) were prepared
on site by a staff geo-chemist and are sourced from core from Long Plains.
• Results to date show good agreement with expected value which implies that the lab is
producing accurate and repeatable analyses
• Results from the 2006 Mine Lease Extension Project (MLEP) campaign showed a correlation
coefficient of 1.00 for 27 pairs of data
Verification of • The verification of significant intersections by either
• Significant intersections MagSus readings) are verified by alternate company geologists
sampling and
assaying
independent or alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
• Discuss any adjustment to assay data.
present in the core shed as part of the process of developing the cut-sheet instruction.
• The cut sheet defining sample lengths for cutting and sampling is selected based on the
MagSus values
• No twinned holes have been drilled. Twinned holes have not been drilled as they are deemed
of little importance in this deposit due to the continuous nature of the mineralisation, very
low nugget and long variography ranges.
• Prior to 2005 Primary data is captured in paper format and transferred manually to an Access
database.
• From 2005 Primary data was captured directly to standard template Microsoft Excel log sheets
using tough book laptops with standard logging codes and data entry control.
• The data is verified by the geologist and then loaded into the central (project-wide) database.
• From July 2019 logged data is captured directly in DataShed-LogChief software with validation
controls.
• Adjustments are made to density measurements when measurements fall above 5 or below 2
g/cm3respectively as these considered as sample errors and recent studies of these outliers
f h h ll
conirmed tat te measurements were un-reiabe.
•I th dilli i i 2019 ll ti f th t l ldd f
n e rng campagns n a sma proporon o e paren sampe were excue or
destructive geotechnical testing prior to assay. These represent <1% of all the composite
assays and will have no material effect on the estimate.
• Extensive use of re-submitted pulps has been used in the past for NP, especially in the 2006
drill campaign.
Location of data • Accuracy and quality of surveys used to locate drill holes (collar
• All significant surface features including drill collars were surveyed by Grange staff surveyors
points and down-hole surveys), trenches, mine workings and other
locations used in Mineral Resource estimation.
using a combination of conventional surveying (total station) and/or high resolution RTK GPS.
• In each case, the collars were located to within 100mm in X, Y and Z.

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Criteria Sampling Techniques and Data Comments
• Specification of the grid system used.
• Quality and adequacy of topographic control.
• For downhole surveys, older drilling used single-shot Eastman dips at 50m spacing downhole
(accurate to 0.5°).
• Since 2013 North seeking gyro was used prior to the use of the DeviFlex downhole survey tool.
• The stated accuracy for DeviFlex is +/- 0.01° per station in azimuth and +/- 0.1° in dip, with
stations every 3m downhole.
• The grid system used is the Savage River Mine Grid, where:
o
10018’ 23” (N) SRG= 00(N) GDA94
• The topographic surface in the vicinity of the deposit was surveyed by Grange staff surveyors
using a combination of conventional surveying (total station) and/or high resolution RTK GPS.
In each case, the data points are located to within 100mm in X, Y and Z and the point spacing
is approximately 5m in X and Y. For areas further away from the deposit, LIDAR data is used.
Data spacing and
distribution
• Data spacing for reporting of Exploration Results. • For Deposits on the Savage River Mine lease the nominal drill hole spacing is 50m (between
sections) and by 50-70m (on section).
• Drill spacing at Long Plains is wider given that the parts of the resource are at an early stage of
delineation. Indicated Mineral Resources at Long Plains have been defined generally in areas
of 50 by 50 m drill spacing.
• Inferred Mineral Resources at Long Plains have been defined in areas of 100x100 metre up to
600x100 metre drill spacing.
• Whether the data spacing, and distribution is sufficient to
• Data spacing and distribution were analysed using semi-variograms. The general quality of the
establish the degree of geological and grade continuity
aroriate for the Mineral Resource and Ore Reserve
experimental variograms was good. The ranges of the variograms were used to provide
uidance for resource classification
ppp
estimation procedure(s) and classifications applied.
g .
• Whether sample compositing has been applied. • Samples have been composited prior to geostatistical analysis and Mineral Resource
estimation. At Savage River Mine, for the 2006 MLEP the composite length was 2m. At Long
Pli th it lth 1 Th t it lth 1 d th
ans, e compose eng was m. e mos common compose eng was m an e
second most common was 2m. For the resource estimates, the Surpac best-fit algorithm was

used which resulted in composite lengths of 0.5 to 1.5m. This approach was adopted because
a selection of a uniform composite length would have resulted in duplicated values in
composites created from longer intervals, which may reduce the nugget values in variograms.
Orientation of • Whether the orientation of sampling achieves unbiased
• The majority of drill holes are oriented to achieve intersection angles as close to perpendicular
data in relation to sampling of possible structures and the extent to which this is
known, considering the deposit type.
to the mineralization as is practicable.

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Criteria Sampling Techniques and Data Comments
geological
structure
• If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have
introduced a sampling bias, this should be assessed and
reported if material.
• No significant sampling bias occurs in the data due to the orientation of drilling with regards to
mineralized structures/bodies.
Sample security • The measures taken to ensure sample security. • All samples are logged and bagged on site by Grange geological staff and chain of custody
remains with Grange staff.
Audits or reviews • The results of any audits or reviews of sampling techniques and
data.
• During the Mine Life Extension Project in 2006 AMC peer reviewed the NP resource for the
mine life extension project (MLEP).
• Following recent major drill campaigns, the resource was reviewed by AMC (March 2019,
August 2019 and October 2020).
• A sample prep audit was conducted for the external provider. An internal review of the SR lab
was completed in June 2019. That review was satisfied with procedures, calibration sand
methods.
• In 2019, AMC peer reviewed the NP and CP Resources and CP Reserves. Their comments for
EOY2018 noted QA/QC practices at Savage River were to an acceptable standard, with
recommendations:
o
There is opportunity to improve QA/QC by including external umpire check assays as a
means of further validation.
o
It was recommended to continue submitting standards and add duplicate and blank
samples at a rate of 5% particularly when drilling new areas.
• During the 2019-20 drilling campaigns these recommendations were adopted including a
migration of all exploration data to the DataShed database.

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SECTION 2: REPORTING OF EXPLORATION RESULTS

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 licence to operate
in the area.
• 4 Mining and 2 exploration leases are held in Tasmania and are 100% owned by Grange
Resources Tasmania Ltd. (formerly Goldamere Proprietary Ltd operating as Australian Bulk
Minerals).
• Mining lease 2M/2001 was granted 11/12/2001 comprising 4,987 hectares which includes the
main orebodies North Pit (NP), South Lens (SL), Centre Pit (CP), Sprent (SP) and South Deposit
(SD) and the pipeline corridor from site to the Port Latta pellet plant. Locality is listed as
Savage River-Port Latta. This lease expires 7 Nov 2031 and currently has a security bond held
by the State of Tasmania.
• Land tenure on ML 2M /2001 includes: State forest, Forest Reserve, Informal reserve, Crown
Land, Private parcel, Conservation area, Regional Reserve and national Estate.
• Mining lease 14M/2007 was granted 14/5/2008 comprising 91 hectares as an easement
(including a sewerage easement) on the Savage River townsite. This lease expires 7 Nov 2031
and no bond is held by the State of Tasmania. Land tenure on ML 14M/2007 includes: Forest
Reserve, Regional Reserve, Private land, Proposed public reserve-CLAC, Crown land Authority
Land and Crown Land
• 4M/2019 (235Ha) was granted 17 August 2020 and expires 7/10/2031. This portion was
relinquished from EL8-2014. This expires 7/10/2031. A bond is held by the State of Tasmania.
• Mining lease 11M/2008 was renewed on 18 December 2017 and expires 7/10/2031 and
comprises two lots totalling 108 hectares with the north west area required for the South
Deposit Tailings Storage facility on Main Creek and the eastern lot required to cover the
remaining part of the Savage river town ship not previously covered by a mining lease. A bond
is held by the State of Tasmania.
• The term for Exploration Licence EL8/2014 was extended in 2019 until 2021. A 235Ha area was
relinquished in favour of 4M-2019.
• Exploration License EL30/2003 was granted in February 2010 and an extension of term has
been granted on 5th July 2019 and expires on 18 June 2021. This lease covers the entire Long
Plains deposit. The lease comprises 38 sq km and adjoins 2M/2001 to the north.

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Criteria JORC Code explanation Commentary
Exploration done
by other parties
• Acknowledgment and appraisal of exploration by other parties. • Systematic exploration commenced during the late 1950’s with the Bureau of Mineral
Resources conducting airborne & ground magnetic surveys to delineate Savage River & two
smaller anomalies south at Long Plains & Rocky River.
• Diamond drilling commenced in the late 1950’s-early 1960’s by Industrial & Mining
Investigations Pty Ltd (8 holes). Savage River Mines Ltd formed in 1965 as a JV to develop the
project and mined Savage River for the next 30 years before Australian Bulk Minerals (ABM –
now Grange) took over the mine lease in 1997.
Geology • Deposit type, geological setting, and style of mineralization. • The Savage River Magnetite deposit lies within and near the eastern margin of the Proterozoic
Arthur Metamorphic Complex in northwestern Tasmania. This complex is exposed along a
northeast–southwest trending structural corridor, The Arthur Lineament, which separates
Proterozoic sedimentary rocks to the northwest from a variety of Paleozoic rocks to the
southeast (Turner 1990). These Paleozoic rocks include some major mafic and ultramafic
intrusive complexes which lie just to the east of Savage River.
• The magnetite orebodies are enclosed within a highly sheared and strike faulted belt of mafic
and ultramafic schists and mylonite. This belt is 0.5km wide, strikes North-north-east to south-
south-west, and is enclosed in a thick sequence of quartz-white mica schist (Whyte schist).
Magnetite ore is almost entirely confined within ultramafic rocks, specifically serpentinite and
talc-carbonate schist. These ore-bearing ultramafic rocks are exposed in an axial zone above
the belt, ranging from about 40 to 100m wide and termed the Main Ore Zone. They also form
rare, much narrower (mostly <20m wide) lenses and layers in the mafic sequence to the west.
• Magnetite ore ranges from disseminated to massive, with much of the main Ore Zone
comprising massive to semi-massive magnetite form 1994 Thornett report on structural and
lithological mapping of North Pit and South Lens.
Drill hole
Information
• A summary of all information material to the understanding of
the exploration results including a tabulation of the following
information for all Material drill holes:
o
easting and northing of the drill hole collar
o
elevation or RL (Reduced Level – elevation above sea
level in metres) of the drill hole collar
o
dip and azimuth of the hole
o
down hole length and interception depth
o
hole length.
• The Savage River deposit has been mined for over 50 years and a comprehensive database of
1079 drill holes for over 160,564mof drilling has been accumulated which informs the
resource models.
• Drill hole information has been included in Appendix C

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Criteria JORC Code explanation Commentary
• 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.
Data aggregation
methods
• In reporting Exploration Results, weighting averaging
techniques, maximum and/or minimum grade truncations (eg
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.
• Davis Tube Recovery (“DTR”) analyses were conducted on core and RC chips that had first had
an estimated grade determined by magnetic susceptibility (mag-sus). If the mag-sus indicated
an estimated grade greater than 15% DTR, the analytical DTR technique was used for assay.
• For RC samples, 2m or less composites were used at Savage River and 1m composites were
used at Long Plains. In drill core, sample lengths were controlled based on observed
geological contacts and generally no more than 2m in length. Sample selection was nominally
>=0.75m and <=1.25m.
• Short intervals were sampled, where discrete lithologies were present. The compositing
routine aggregates these to 1m composites.
Relationship
between
mineralization
widths and
intercept lengths
• These relationships are particularly important in the reporting
of Exploration Results.
• If the geometry of the mineralization with respect to the drill
hole angle is known, its nature should be reported.
• If it is not known and only the down hole lengths are reported,
there should be a clear statement to this effect (eg ‘down hole
length, true width not known’).
• No Exploration Results are included in this report. The results pertain to the established
Mineral Resource at Savage River and Long Plains.
• All intercepts are reported as down hole lengths and the down hole composites are used to
inform the ordinary kriged resource estimate. Refer to intercept tables below.
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.
• A locality plan (figure 5) and typical cross sections (figure 6-10) for each deposit area are
attached.
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.
• All individual drilling results from diamond, RC (and limited percussion holes in CP resource)
have been incorporated into the current resource estimations. In the current NP estimate, the
percussion holes were removed. The percussion holes have poor sample quality owing to
grouping and segregation errors that RC or drill core samples do not. The percussion holes
represented a second population of lower quality data and were not required to complete the
estimate.

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Criteria JORC Code explanation Commentary
• The most recent CP estimate includes 4% of data sourced from percussion holes.
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.
• The Savage River Mine has been in operation for over 50 years with substantial data collected
including geophysical surveys, geological mapping of exposures and metallurgical test work.
• Waste management plans are based upon acid base accounting analyses of selected
representative data from each deposit at Savage River.
Further work • The nature and scale of planned further work (eg 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.
• Current (2020) drilling campaigns have focused on:
o
In-pit geotechnical drilling of western wall to firm up geotechnical domains for life of
mine plans for the open cut method
o
In-fill drilling from underground to upgrade resource categories and to improve the
confidence in the model for long term planning for underground.
o
NP-UG drilling from the exploration decline focussed on In-fill drilling for geotechnical
and resource purposes.
• Current and planned drill programs (2020-21) are focussing on geotechnical drilling in the west
wall of North pit and limited geotechnical drilling at Long Plains. Both campaigns aim to inform
the pit slope parameters for Life of Mine Planning Models

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SECTION 3 ESTIMATION & REPORTING OF MINERAL RESOURCES

Criteria JORC Code explanation Commentary
Database integrity • Measures taken to ensure that data has not been corrupted by,
for example, transcription or keying errors, between its initial
collection and its use for Mineral Resource estimation
purposes.
• Data validation procedures used.
• Transcription errors are limited by having assay data directly merged into the database with
key fields on sample ID.
• Visual validation in 3D is utilized having sections plotted with block grades, the drill-hole
assays and geology intervals displayed.
• Validation of the database occurs at distinct stages.
• Data entry – Prior to 2019 data was mostly entered into Excel spreadsheets, controlled by
lookup lists and ranges of acceptable values.
o
Before upload to the database – data is cross-checked in Excel.
o
Before extracting composites – a set of queries are run, checking for data continuity,
abnormal values and overlapping ranges.
o
At all stages spot checks are made on specific areas against raw data or core where
available, to check for accuracy and/or correlation. Where applicable, data is plotted
out on section or graphically for visual checking.
• Since 2019, the data validation process has significantly improved through the introduction of
an additional layer of checking brought mainly by the inherent validation functionalities of the
new database system as managed by the Geological Database Administrator. Some of the
validation features of the new database system utilised in the past year include:
o
a data management tool at the point of collection;
o
a database structure (MaxGeo data schema, SQL MDS) that fulfils statutory compliant
requirements and allows high levels of data transparency and validity;
o
a disciplined assay management workflow and swift monitoring of quality assurance
and control of the assays resulting in better assay quality and integrity.
Site visits • Comment on any site visits undertaken by the Competent
Person and the outcome of those visits.
• If no site visits have been undertaken indicate why this is the
case.
• Competent person is a Grange employee and has an intimate knowledge of the operation. The
technical services team includes senior mining engineers, geologists and environmental
scientists that provide specialist advice and analysis to the CP to inform the resource and
reserve estimates.

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Criteria JORC Code explanation Commentary
• Competent person visits site frequently and has a very close and current understanding of the
orebodies.
Geological
interpretation
• Confidence in (or conversely, the uncertainty of) the geological
interpretation of the mineral deposit.
• Nature of the data used and of any assumptions made.
• The effect, if any, of alternative interpretations on Mineral
Resource estimation.
• The use of geology in guiding and controlling Mineral Resource
estimation.
• The factors affecting continuity both of grade and geology.
• Each section was interpreted for magnetite mineralization in a live-3D environment, i.e. the
sections were not printed out for interpretation purposes. Grade control outlines and
blasthole data as well as visual checks in the field were used to inform the ore/waste contacts
and this supports the spatial interp using both grade control and wide spaced diamond drilling
data. This has improved the confidence of the model especially close to current mining
benches. Recent work was completed by Grange staff, assisted by Xstract in 2020. The
geological interpretation was done in Surpac, then converted to Datamine files for processing
by Xstract.
• Historically, there were three types of mineralization defined (termed sparse, moderate and
abundant and given the codes ZS, ZM and ZA respectively). Recent practice has been to
amalgamate the ZM and ZA. The mineralized zones were therefore subdivided into moderate
and high grade (ZAZM, >35 DTR) and low grade (ZS 15-35 DTR) categories.
• The geological interpretation has high confidence on a deposit scale, informed by regularly
spaced drilling, in-pit mapping, grade control drilling and monthly reconciliations.
• The boudinaged nature of the high-grade lenses does sometimes result in some areas having
to be adjusted by on ground mapping and grade control, during mining.
• The global resource reconciliation continues to have a very good match with concentrate
produced. In 2020, there were some significant differences in the location of low-grade lenses
and these are mostly confined to the lower confidence mineralisation in the Western Lens of
North Pit. Western Lens mineralisation does not drive the pit optimisations and will be mined
with Main Ore Zone.
• Geology, lithology and structure are used to guide and control the interpretation and
wireframing of ore lenses in preparation for resource estimation. Wireframes are validated in
section, then in plan (flitch) to enable robust shapes to be developed.
• Continuity is greatest down dip owing to the strike-slip deformation at Savage River.
Continuity along strike is characterized by discontinuous swarms of boudinaged high grade
magnetite lenses surrounded by lower grade magnetite ore hosted in serpentinite gangue. In
extrapolated areas down dip, the interpretations of mineralised geometry have been
conservative.

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Criteria JORC Code explanation Commentary
Dimensions • The extent and variability of the Mineral Resource expressed as
length (along strike or otherwise), plan width, and depth below
surface to the upper and lower limits of the Mineral Resource.
• The Savage River ore-bodies occur discontinuously over a strike length of 6km with thickness
ranging from 40-150m.
• All lenses remain open at depth.
A summary of the defined extents of individual deposits follows:
Estimation and
modelling
techniques
• The nature and appropriateness of the estimation technique(s)
applied and key assumptions, including treatment of extreme
grade values, domaining, interpolation parameters and
maximum distance of extrapolation from data points. If a
computer assisted estimation method was chosen include a
description of computer software and parameters used.
• Estimations up to 2014 been undertaken by Grange staff using recommendations and
parameters defined in variography studies completed by Snowden Mining Industry
Consultants
• Since 2014, estimations have been undertaken by Optiro Mining an Xstract Mining consultants
in consultation with Grange staff.
• Mineralized domains were established from high grade and low grade intersects as
interpreted in the geological model.
• Ordinary Kriging (OK) was employed to estimate the North Pit resource from 2007 based on
the recommendation of a report by Snowden in 2006. Other deposits have progressively
moved from inverse distance methods to OK as appropriate.
• The Sprent deposit is comparatively small (<3M tonnes) and considered to be an extension of
Centre Pit South. It was developed in 2010 to supplement ore supply.
• Drill hole sample data was flagged as ore in the database within the domain wireframes
interpreted for each deposit. Composites extracted from the database for each domain were
therefore controlled by the geological interpretation.
• Sample data was generally composited to 1 metre down hole length using a best fit-
compositing method.
• Residual samples (those composite intervals for which there was less than 75% of the
composite length) were considered biased and hence were not included in the estimate.

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Criteria JORC Code explanation Commentary
Optiro and Xstract have recommended top cuts as tabled below to reduce the impact of
significant outliers and positively skewed populations.
• DTR is directly estimated by ordinary kriging. This is an improvement from past practice
supported by increased sample density.
• DTR, Density values and the calculated attribute Density (D) x DTR are all subjected to
variography and estimation, with DTR(calc) back calculated from D x DTR in the model.
DTR(calc) has been estimated as a comparison to DTR ( Kriged DTR).
• Specialist Resource Estimation consultants (Xstract and Optiro) have created the block models
from wireframes and data supplied by on-site geologists. These model estimations have been
run with Surpac software and Snowden Supervisor for variography studies. The most recent
NP model (2020) was run in Datamine software and the model transformed into Surpac
model.
• Block models were constructed for
o
North Pit (2020) using a 5mE by 10mN by 5mRL parent block size with sub-celling to
2.5mE by 2.5mN by 1.25mRL.
o
Centre Pit (2019) used a 5mE by 15mN by 5mRL parent block size with sub-celling to
2.5mE by 3.75mN by 2.5mRL.

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Criteria JORC Code explanation Commentary
Variography studies for each deposit have been completed by specialist resource
estimation consultants with recommendations for estimation parameters appropriate
for each deposit and the modelling technique employed as tabulated below.
• No top cuts have been applied to the Sprent models.
• DTR(Ok) is reported and DTR (calc) is retained and used to validate the estimate based on past
practice. DTR(calc) is back calculated from D x DTR in the model.
• Block models were constructed for each deposit as given in the table “Block Model
Parameters” table below;
• The minimum and maximum number of samples were tested for each deposit using the
Kriging Neighbourhood Analysis (KNA). The following table outlines the Number of Samples
selected to inform the three estimation passes in each of the block model estimates for the
various deposits.

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Criteria JORC Code explanation Commentary
• The estimation was validated by completing visual checks in section and plan and comparing
statistics of input composite drillhole sample grades to estimated block grades on both a local
and global basis. Local grade variability was also validated by comparing composite and block
grades visually in cross section, long section and in plan view.
• The availability of check estimates, previous estimates and/or
mine production records and whether the Mineral Resource
estimate takes appropriate account of such data.
• The assumptions made regarding recovery of by-products.
• Estimation of deleterious elements or other non-grade
variables of economic significance (eg sulphur for acid mine
drainage characterization).
• In the case of block model interpolation, the block size in
relation to the average sample spacing and the search
employed.
• Any assumptions behind modelling of selective mining units.
• Any assumptions about correlation between variables.
• Description of how the geological interpretation was used to
control the resource estimates.
• Discussion of basis for using or not using grade cutting or
capping.
• The process of validation, the checking process used, the
comparison of model data to drill hole data, and use of
reconciliation data if available. New model estimates are
• New model estimates were compared against previous model estimates by flitch plots, visual
inspection of the model around new drill hole data in section and have been reconciled with
production data as part of the validation process.
• DTR(Ok) is checked by DTR(calc) These correlate very closely with an overall difference of
1.7% at a 15% DTR cut-off grade. DTR(ok) is reported.
• No by-product recoveries have been considered. The magnetite recovery process targets the
magnetic minerals , so no marketable by-products are recovered.
• Concentrate grades and deleterious elements (impurities) have all had variography completed
where samples were available and were estimated by Ordinary Kriging with the resource run.
• Sample spacing on a 50 x 70m grid is 5-7 times the block size. This sample spacing is supported
by the very strong geological continuity (low sample variance). See tables above.
• No assumptions were made behind modelling of selective mining units.
• There is a correlation between DTR and density which is described below in the Bulk Density
section. This is no longer relevant as DTR is directly estimated.
• Geology, lithology and structure are used to guide and control the interpretation and wire-
framing of ore lenses in preparation for resource estimation. Wireframes are validated in
section, then in plan (flitch) to enable robust shapes to be developed.
• Top cuts in ore domains were used where outliers were identified by exploration data
analysis. Outliers were identified for:
o
Ni, TiO2and P in North Pit
o
P in South Deposit
o
Ni, MgO, P, V and S in Centre Pit
• Block estimates were cross-validated by comparison with printed block sections showing
drilling, block values and constraining wireframes.

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Criteria JORC Code explanation Commentary
compared against old model estimates and reconciliations as
part of validation.
• Swath plots generated show the drill hole and modelled grades compared well across the
deposits particularly where there were a large number of drillholes.
• Grade Control outlines and blasthole data as well as visual checks in the field were used to
inform the ore/waste contacts and this supports the spatial interp using both GC and wide
spaced diamond drilling data. This has improved the confidence of the model especially close
to current mining benches.
• 2019- Reserve (MOZ and WL) reported 12.5% less concentrate than total concentrate
produced; where Total concentrate produced = Concentrate produced + changes to stockpiles.
• The Main Ore zone in NP is very predictable and drill spacing is appropriate for the resource
estimate.
• The difference between the 2019 and 2020 resource model was minor (not material) even
with over 10,000m of new drilling.
• The main improvement between 2019 and 2020 was the direct estimation of DTR which
lowered the grade by 1.5% within the Main Ore Zone compared to the last model.
• The Western Lens is less predictable owing to the lensy and boundinaged ore geometry,
however this is not material to the overall estimate as it accounts for 16% of remaining
resource tonnage and only 9% of the metal of the entire resource.
Moisture • Whether the tonnages are estimated on a dry basis or with
natural moisture, and the method of determination of the
moisture content.
• Tonnages were estimated on a dry basis. All drill holes are dried at the laboratory prior to
sample prep and analysis.
Cut-off parameters • The basis of the adopted cut-off grade(s) or quality parameters
applied.
• For the Open Cut, the cut-off grade of 15%DTR is based on a natural break in the Grade-
Tonnage Curve and is supported by economic analysis for the open cut undertaken during
2010.
• The grade cut-off parameters were supplied by experienced mining engineers on an appraisal
basis. These are the minimum widths and cut-off grades expected to be required to meet
economic hurdles for these mining methods. These parameters are not yet based upon
analysis as a feasibility level.
Mining factors or
assumptions
• Assumptions made regarding possible mining methods,
minimum mining dimensions and internal (or, if applicable,
external) mining dilution. It is always necessary as part of the
process of determining reasonable prospects for eventual
economic extraction to consider potential mining methods, but
the assumptions made regardingminingmethods and
• Above the ultimate pit shape, an optimised pit has been designed, based on an iron ore price,
mining costs. Below the ultimate open cut profile , a combination of minimum mining width
and cut-off grades for three mining methods; (Stoping, SLC and Block Caving) have been used
as a preliminary guide to reasonable prospects of eventual economic extraction ahead of

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Criteria JORC Code explanation Commentary
parameters when estimating Mineral Resources may not
always be rigorous. Where this is the case, this should be
reported with an explanation of the basis of the mining
assumptions made.
further studies. No mining factors (i.e. dilution, ore loss, recoverable resources at selective
mining block size) have been applied for an eventual underground operation.
• In 2020 for the consideration of Reasonable Prospects of Eventual Economic Extraction
(RPEEE), a 100m x 100m grid in long section was analysed to obtain the true width and grade
across this grid. If a cell in the grid passed the “Conditions to meet RPEEE” in the table below,
then the cell was included in reportable resources.
Metallurgical
factors or
assumptions
• The basis for assumptions or predictions regarding
metallurgical amenability. It is always necessary as part of the
process of determining reasonable prospects for eventual
economic extraction to consider potential metallurgical
methods, but the assumptions regarding metallurgical
treatment processes and parameters made when reporting
Mineral Resources may not always be rigorous. Where this is
the case, this should be reported with an explanation of the
basis of the metallurgical assumptions made.
• DTR has been incorporated into the model as a measure of magnetite recovery in the
magnetic separation process. This is based on the performance of DTR at the Savage River
mine, where it has been employed as a good measure of delineating ore and waste and in
modelling the anticipated recoveries through the magnetic separation process for over 50
years.
• Historical records indicate the Metallurgical recovery of magnetite from the magnetic
separators has been demonstrated to be 95% of the DTR derived from laboratory DTR process.
This factor is not applied to the resource model.
Environmental
factors or
assumptions
• Assumptions made regarding possible waste and process
residue disposal options. It is always necessary as part of the
process of determining reasonable prospects for eventual
economic extraction to consider the potential environmental
impacts of the mining and processing operation. While at this
stage the determination of potential environmental impacts,
particularly for a greenfields project, may not always be well
advanced, the status of early consideration of these potential
environmental impacts should be reported. Where these
aspects have not been considered this should be reported with
an explanation of the environmental assumptions made.
• Waste rock: waste is segregated while mined into one of four waste types based on the rock’s
acid-base chemistry. These units are disposed of in encapsulated dumps according to the
waste management plan as part of the environmental permit conditions. Tailings are disposed
of as sediment beaches in engineered tailing ponds. The tailings management plan is part of
the environmental permit conditions.

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Criteria JORC Code explanation Commentary
Bulk density • Whether assumed or determined. If assumed, the basis for the
assumptions. If determined, the method used, whether wet or
dry, the frequency of the measurements, the nature, size and
representativeness of the samples.
• The bulk density for bulk material must have been measured by
methods that adequately account for void spaces (vugs,
porosity, etc), moisture and differences between rock and
alteration zones within the deposit.
• Discuss assumptions for bulk density estimates used in the
evaluation process of the different materials.
• All ‘modern’ (post-2005) diamond drilling samples have measured density values. However,
some historic drilling samples do not have density data and it is not possible to measure
density for RC samples.
• The density of the ore for the RC samples and legacy diamond drilling samples was
determined based on the first principles equation, where:
SG =~~(~~DTR
510
+100 −DTR
281
~~)~~
−1
• 36% of all bulk density values are measured, 56% are calculated and 7% have null values for
density.
• The First Principles equation relates density to DTR and provides a reasonable fit to the
measured data.
• 2019 and later North Pit models removed percussion holes (nearly half of informing data of c.
2011 models - NP1103 model) .
• Centre Pit retained the use of percussion holes in the resource estimate. As a consequence,
there are now much greater proportion of densities having measured values and a smaller
portion of density is calculated via regression methods where primary density measurements
were absent.
• The ore zones at Savage River are very competent and void space is not considered significant
to make allowance for in the density determination method.
Audits or reviews • The results of any audits or reviews of Mineral Resource
estimates.
• During the Mine Life Extension Project in 2006, AMC peer reviewed the NP resource
estimation process and parameters for the mine life extension project (MLEP).
• The estimation process and parameters are considered to still be valid for this deposit as
additional drilling has been infill in nature. Several due diligence studies have reviewed the
estimation methodologies as recommended by Snowden and found them to be valid.
• AMC conducted a new resource Audit in March 2019-with further review in August 2019 and
October 2020. AMC considered that:
o
the Mineral Resource for Centre and North Pit Deposits were appropriately classified as
Measured, Indicated, and inferred resources in accordance with the JORC code.
o
That the processes to generate the block model for the Resource Estimates have been
completed using accepted practice with drill-hole data supported by quality control
protocol, known mining history and reconciliation.
• AMC cited the following area for improvement:

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Criteria JORC Code explanation Commentary
o
recommended that a maximum of three samples per drillhole is used in each search
pass. Grange currently uses 4 in NP and 8 in CP with the method used has been
supported by good reconciliation performance.
• Reconciliation suggests that the estimation is comparable with grade control data. Global
reconciliation is performed on an annual basis and show good performance between actual
produced concentrate and estimated contained concentrate in the resource model.
• For the recent resource update for NP by Xstract, a site visit was not completed due to COVID-
19 travel restrictions. While Xstract visited the site in 2019, a review of drilling, sampling and
mapping procedures was not completed as their role was to refresh the estimate, not audit
our processes.
Discussion of
relative accuracy/
confidence
• Where appropriate a statement of the relative accuracy and
confidence level in the Ore Reserve estimate using an approach
or procedure deemed appropriate by the Competent Person.
For example, the application of statistical or geostatistical
procedures to quantify the relative accuracy of the reserve
within stated confidence limits, or, if such an approach is not
deemed appropriate, a qualitative discussion of the factors
which could affect the relative accuracy and confidence of the
estimate.
• The statement should specify whether it relates to global or
local estimates, and, if local, state the relevant tonnages, which
should be relevant to technical and economic evaluation.
Documentation should include assumptions made and the
procedures used.
• Accuracy and confidence discussions should extend to specific
discussions of any applied Modifying Factors that may have a
material impact on Ore Reserve viability, or for which there are
remaining areas of uncertainty at the current study stage.
• It is recognized that this may not be possible or appropriate in
all circumstances. These statements of relative accuracy and
confidence of the estimate should be compared with
production data, where available.
• Global reconciliations and bench reconciliations are used to feedback into the resource model.
Regular reconciliations show a good performance of model vs actual. Global reconciliation is
performed on an annual basis and show good performance between actual produced
concentrate and estimated contained concentrate in the resource model. The current
resource model was found to be a better predictor of modelled concentrate due to changes in
wireframes in current model.
• Bench reconciliations show good agreement and nearly always a positive reconciliation
between resource and produced concentrate.
• Reconciliations are calculated from material survey movement against changes in stockpiles
and actual magnetite concentrate production. Global reconciliation of the current model
shows an under-prediction of the actual concentrate production within a 5-10% tolerance.
• Grange believes that the accuracy and confidence in the Mineral Resources is appropriate and
within the accepted error ranges for the Mineral Resource confidence categories (Measured,
Indicated and Inferred).

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SECTION 4: ESTIMATION & REPORTING OF ORE RESERVES

(Criteria listed in section 1, and where relevant in sections 2 and 3, also apply to this section.)

Criteria JORC Code explanation Commentary
Mineral Resource
estimate for
conversion to Ore
Reserves
• Description of the Mineral Resource estimate used as a basis
for the conversion to an Ore Reserve.
• Clear statement as to whether the Mineral Resources are
reported additional to, or inclusive of, the Ore Reserves.
• The Total Ore Reserve estimate for Savage River includes Mineral Resources from North Pit,
Centre Pit and South Deposit. The Mineral Resources used are from updated Mineral Resource
models as at 31 Dec 2020 and as publicly reported on in this release.
• The stated Mineral Resource is inclusive of the Ore Reserve
Site visits • Comment on any site visits undertaken by the Competent
Person and the outcome of those visits.
• If no site visits have been undertaken indicate why this is the
case.
• The Competent Person has more than 10 years of experience in an open pit Magnetite mine at
senior operational management and technical level.
• Competent person is an employee of the company.
Study status • The type and level of study undertaken to enable Mineral
Resources to be converted to Ore Reserves.
• The Code requires that a study to at least Pre-Feasibility Study
level has been undertaken to convert Mineral Resources to Ore
Reserves. Such studies will have been carried out and will have
determined a mine plan that is technically achievable and
economically viable, and that material Modifying Factors have
been considered.
• The Centre Pit Ore Reserve estimate is based on an updated Feasibility Study completed in
October 2019. The Reserves for North Pit and South Deposit are based on feasibility studies
completed in 2006 with updated economic considerations as reviewed through the annual
budgeting process. The Stockpile reserves are based on detailed physical surveys and collected
grade control assays.
• The Life Of Mine Plan process is undertaken annually which encompasses reviews of
conversion of mineral resource to ore reserve and assessment of current economic and other
reconciled modifying factors.
• The information used for estimation and reporting of this Ore Reserve is based upon those
Feasibility Studies and with current production reconciled modifying factors.
• Feasibility assessments continue on an ongoing basis, for which applicable preliminary results
support the reported reserves.
Cut-off
parameters
• The basis of the cut-off grade(s) or quality parameters applied. • Cut-Off-Grade Analysis was undertaken as part of the Feasibility Study and is reviewed on an
annual basis as part of Grange Resource’s Life of Mine Budget process.
• The Cut-off grade is 15% DTR.
Mining factors or
assumptions
• The method and assumptions used as reported in the Pre-
Feasibility or Feasibility Study to convert the Mineral Resource
to an Ore Reserve (i.e. either by application of appropriate
factors by optimization or by preliminary or detailed design).
• Whittle Optimisations are used to derive an economic pit outline which is then used as the
basis for mine design. The software uses profit maximization algorithms to generate pit shells.
The cost inputs used in the Whittle optimiser are based on a combination of historical

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Criteria JORC Code explanation Commentary
• The choice, nature and appropriateness of the selected mining
method(s) and other mining parameters including associated
design issues such as pre-strip, access, etc.
• The assumptions made regarding geotechnical parameters (eg:
pit slopes, stope sizes, etc), grade control and pre-production
drilling.
• The major assumptions made and Mineral Resource model
used for pit and stope optimization (if appropriate).
• The mining dilution factors used.
• The mining recovery factors used.
performance and forecasts of future costs. Parameters are initial determined in Feasibility
Studies and are reviewed as part of the ongoing Life Of Mine Planning and evaluation process.
• The Ore Reserves are reported within a detailed staged pit designs which are based on Whittle
open pit optimization.
• Mining is undertaken by conventional bulk mining methods utilizing hydraulic face shovels,
dump trucks and conventional drill and blast, which is suited to the local terrain.
• The overall pit slopes used for the design and optimisation are based on geotechnical studies
undertaken in the Feasibility Study and are reviewed and updated on an annual basis as part
of Grange Resource’s Life Of Mine Planning process. The current overall slope parameters are
as follows:
• The Smallest Mining Unit (SMU) assumed is 5 m x 5 m x 2.5 m in the X, Y and Z direction
consistent with the sub-cell resolution in the resource.
• The mining block model includes an allowance for likely mining dilution based on historical
performance. For North Pit this has added approximately 2% tonnage and reduced the DTR by
8%. In Centre Pit this has added zero additional tonnage and reduced the DTR by 15%.
• These factors reflect the expected ore dilution leading to a decrease in recovered grade and
an increase in recovered ore volume and are based on historic reconciliation performance.
Reconciliations (global) are compiled annually and bench reconciliations are compiled as
benches are completed (about 8 per year).
• Temporal or period reconciliations are run to check the quality of the 3 month plan cycle.
• Any minimum mining widths used. • Mining widths of 20m are applied to the pit designs based on the current primary load and
haul equipment’s minimum working requirements. Ore and waste can be mined and
segregated to the minimum block size based on the current equipment specification and
mining method.

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Criteria JORC Code explanation Commentary
• The manner in which Inferred Mineral Resources are utilised in
mining studies and the sensitivity of the outcome to their
inclusion.
• The infrastructure requirements of the selected mining
methods.
• The Whittle Optimization on which the mine design is based utilises only Measured and
Indicated Material. Ore Reserve classification is that portion of the mineral resource that
resides within an economic pit design. Only Measured and indicated resources are considered.
• Inferred resources are not scheduled or included in cash flow assessments. Inferred resources
are considered during optimizations to assess further reserve development priorities.
• The mine can conduct remote blast hole drilling and charging to support safe operation
utilising the mining method.
Metallurgical
factors or
assumptions
• The metallurgical process proposed and the appropriateness of
that process to the style of mineralization.
• Whether the metallurgical process is well-tested technology or
novel in nature.
• The nature, amount and representativeness of metallurgical
test work undertaken, the nature of the metallurgical domains
applied, and the corresponding metallurgical recovery factors
applied.
• Any assumptions or allowances made for deleterious elements.
• The Concentrator comprises primary crushing, primary and secondary grinding and magnetic
separation. Concentrate is pumped by a slurry pipeline for drying, pelletizing and ship loading
at the Port Latta. This process is well proven at Savage River over the last 50 years and is used
extensively for magnetite deposits throughout the world.
• The Concentrator and Pellet Plant have been have operated continuously by Grange
Resources since 2009 and before by Australian Bulk Minerals since 1997.
• There has been metallurgical test work undertaken as part of early feasibility studies and
subsequent drilling programs.
• A plant recovery factor of 95% is used to account for concentrator efficiency and is supported
by historical performance.
• The Ore Reserve and the associated mine schedule produce an output on which the sale of
pellet is based and includes any deleterious elements.
• Deleterious elements (also referred to as impurities), are identified in product specification
and are estimated in the resource model.

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Criteria JORC Code explanation Commentary
• The existence of any bulk sample or pilot scale test work and
the degree to which such samples are considered
representative of the ore-body as a whole.
• For minerals that are defined by a specification, has the ore
reserve estimation been based on the appropriate mineralogy
to meet the specifications?
• The mineral resource model appropriately addresses the chemical criteria and the emergent
physical properties to meet a high-quality iron ore product.
• Magnetite concentrate and hematite pellets are sold on a market specification.
• The Davis Tube Recovery (DTR) technique is the fundamental unit of measurement of grade of
ore at a magnetite mine.
• DTR is a measure of the “recoverable” magnetite as determined by equipment which seeks to
mimic the process occurring in the concentrator.
• DTR can be used to predict the concentrate contained within the ore, which is far more
relevant than an analysis for total iron in the ore.
• •The DTR is a physical test, dependent on the actual liberation of the magnetite from its
gangue elements.
• The liberation at the laboratory scale needs to mimic the liberation at a plant scale. This
liberation is directly related to the grind distribution the method has been designed as
appropriate for the Savage River deposit. The recoverable magnetite from the Davis Tube is
called Davis Tube Concentrate (DTC) and is weighed to determine what proportion of the
original sample was recovered.
• The concentrate recovered from the DTC is analysed by X-ray fluorescence (XRF) methods to
assess the quality of the DTC, ie the grade of iron, silica, sulphur etc in the concentrate.
• X-ray fluorescence utilizes a spectrometer, an x-ray instrument used for non-destructive
chemical analyses of rocks, minerals, sediments and fluids
• Magnetite concentrate and hematite pellets are sold on a market specification.
Environmental • The status of studies of potential environmental impacts of the
mining and processing operation. Details of waste rock
characterisation and the consideration of potential sites, status
of design options considered and, where applicable, the status
of approvals for process residue storage and waste dumps
should be reported.
• The mining and exploration tenements held by the Company contain environmental
requirements and conditions that the entities must comply with in the course of normal
operations.
• Conditions and regulations cover the management of the storage of hazardous materials and
rehabilitation of mine sites. The Company obtained approvals to operate in 1996 and 1997
under Tasmania's Land Use Planning and Approvals Act (LUPA) and the Environmental
Management and Pollution Control Act(EMPCA)as well as the Goldamere Act and Mineral

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Criteria JORC Code explanation Commentary
Resources Development Act. The land use permit conditions for Savage River and Port Latta
are contained in Environmental Protection Notices 248/2 and 302/2 respectively.
• The currently approved Environmental Management Plans were submitted for Savage River
and Port Latta on 21 December 2010. The extension of the project’s life was approved by the
Department of Tourism, Arts and the Environment on 12 March 2007 and together with the
Goldamere Act and the Environmental Protection Notices, is the basis for the management of
all environmental aspects of the mining leases.
• The Goldamere Act limits the Company's liability under Tasmanian law for remediation of
contamination to that caused by the Company's operation and indemnifies the Company for
certain environmental liabilities arising from past operations. Where pollution is caused or
might be caused by previous operations and this may be impacting on Grange’s operations or
discharges. Grange is indemnified against any associated emissions.
• Grange is required to operate to Best Practice Environmental Management (BPEM).
• The Goldamere Act provides overriding legislation against all other Tasmanian legislation.
• The main mining lease 2M/2001 on which both North Pit and Centre pit are allocated and is
granted for a 30 year term due for renewal in 2031. Grange has current approvals to mine in
place. The waste rock is to be segregated into potential acid forming and non-acid forming
waste in the pit and then disposed of in the Broderick Creek waste rock dump complex or
other dumps as approved by the Tasmania EPA and Mineral Resource Tasmania which have
sufficient capacity for the current life of the mine. The potentially acid forming waste is
encapsulated with layers of clay and alkaline rocks to prevent the formation of acid rock
drainage.
• Process residue from the concentration of ore (tailings) is stored in the Main Creek Tailings
Dam and the South Deposit Tailings Storage Facility. There is sufficient capacity to store
tailings from North Pit, Centre Pit and South Deposit until 2040. Approval for the South
Deposit Tailing Storage Facility was granted by the Department of Environment and the
Waratah-Wynyard Council and was commissioned in November 2018
Infrastructure • The existence of appropriate infrastructure: availability of land
for plant development, power, water, transportation
(particularly for bulk commodities), labour, accommodation; or
the ease with which the infrastructure can be provided, or
accessed.
• Current operation consists of North Pit and Centre Pit and one previously mined pit (South
Deposit) which is not yet planned to be mined as part of the Life Of Mine Plan.
• There are two primary crushers and conveyors, concentrator, pipeline and pellet processing
plant with process water sourced on-site and dedicated power transmission lines.
• Townsite hosts a workforce of 250 persons.

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Criteria JORC Code explanation Commentary
• Concentrate is transported by slurry pipeline to the Grange-owned Port Latta pellet plant and
dedicated ship loading facility for export.
• Storage of tails in the Main Creek Tails Storage Dam (facility) will be transitioned to the new
South Deposit Tails Storage Facility during 2018. The new facility will have sufficient capacity
to support the Life of Mine operation.
Costs • The derivation of, or assumptions made, regarding projected
capital costs in the study.
• The methodology used to estimate operating costs.
• Allowances made for the content of deleterious elements.
• The source of exchange rates used in the study.
• Derivation of transportation charges
• The basis for forecasting or source of treatment and refining
charges, penalties for failure to meet specification, etc.
• The allowances made for royalties payable, both Government
and private.
• The Life Of Mine Plan is updated annually. All assumptions regarding capital costs are
reviewed monthly and as part of the annual budgeting process. Capital costs are well
documented, managed and understood for the operation.
• The Concentrator and Pellet Plant have operated continuously by Grange Resources since
2009 and before by Australian Bulk Minerals since 1997. The operating and capital costs are
based upon actual operating historical data.
• Allowances are made for the various deleterious elements and adjustments are made to the
Iron Content.
• The exchange rate is sourced from National Australia Bank (Specialist Matter Experts), with
periodic updates for forecast.
• Reserve revenues are calculated based on Free On Board (FOB) from Port Latta. Individual
shipments are sold on either an FOB basis from Port Latta or on a CFR basis.
• Forecasting of treatment and refining charges including penalties in concentrate are
completed annually using the scheduled annual feed grade (including impurities). With
forecast reports provided by subject matter experts
• Royalties are used in the Whittle Optimization using the Tasmanian State charges and
government royalties are calculated based on the life of Mine Plan
Revenue factors • The derivation of, or assumptions made regarding revenue
factors including head grade, metal or commodity price(s)
exchange rates, transportation and treatment charges,
penalties, net smelter returns, etc.
• The derivation of assumptions made of metal or commodity
price(s), for the principal metals, minerals and co-products.
• The Whittle optimisation was carried out including Measured and Indicated Mineral Resource
categories and using a gross FOB price at Port Latta expressed as US$/dmt pellet and a
nominated AUD = USD exchange rate
• The commodity pricing is sourced from Specialist Matter Experts in the market analysis for
mining and metals.
Market
assessment
• The demand, supply and stock situation for the particular
commodity, consumption trends and factors likely to affect
supply and demand into the future.
• The mine and concentrator have operated continuously by Grange Resources since 2009 and
before by Australian Bulk Minerals since 1997, and various parties since 1967.
• Product is presently sold as Concentrate and Pellet into the Asian and Australian markets.

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Criteria JORC Code explanation Commentary
• A customer and competitor analysis along with the
identification of likely market windows for the product.
• Price and volume forecasts and the basis for these forecasts.
• For industrial minerals the customer specification, testing and
acceptance requirements prior to a supply contract.
• There are long term contracts in place and we also see a strong spot market.
• Prices are negotiated based on market indices.
Economic • The inputs to the economic analysis to produce the net present
value (NPV) in the study, the source and confidence of these
economic inputs including estimated inflation, discount rate,
etc.
• NPV ranges and sensitivity to variations in the significant
assumptions and inputs.
• Financial modelling of the Savage River operation, shows support for strong NPV’s.
• The NPV is most sensitive to product price and exchange rate
Land Tenure • Land use • North Pit, Centre Pit, South Deposit and the associated waste dumps, tails storage facility,
concentrator, accommodation and pellet plant all lie wholly within ML 2M/2001 and ML
11M/2008. There are no restrictions placed on the operation by these leases which materially
restrict its operation.
Social • The status of agreements with key stakeholders and matters
leading to social licence to operate.
• The Mine is relatively isolated, being situated 45 km off the Murchison Highway, which links
the north-west and western coasts of Tasmania (Figure 12). The nearest localities are Corinna
(population 6), 24 km to the south-west and Waratah (population 380), 38 km to the north-
east. The nearest major town by road is Burnie (population ~20,000), located on the north-
west coast, about 100 km distant.
• Grange also works with the Tasmanian Government in the Savage River Rehabilitation Project.
This work has seen water quality in the Savage River improve from where it was significantly
degraded by acid rock drainage in 1997 to where modified ecosystem targets are being met
and pelagic aquatic species are re-populating the middle reaches of the river. On the back of
this work, Grange has community support for the ongoing operation of the mine.
Other • To the extent relevant, the impact of the following on the
project and/or on the estimation and classification of the Ore
Reserves:
• Grange’s project at Savage River is an active and ongoing operation.
• Any identified material naturally occurring risks. • Asbestos group of minerals have been identified at Savage River. The asbesti-form materials
are handled according to the fibrous materials policy at Grange, whereby risks from inspirable
particles are monitored and controlled.

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Criteria JORC Code explanation Commentary
• The status of material legal agreements and marketing
arrangements.
• The status of governmental agreements and approvals critical
to the viability of the project, such as mineral tenement status,
and government and statutory approvals. There must be
reasonable grounds to expect that all necessary Government
approvals will be received within the timeframes anticipated in
the Pre-Feasibility or Feasibility study. Highlight and discuss the
materiality of any unresolved matter that is dependent on a
third party on which extraction of the reserve is contingent.
• A long term contract for supply of magnetite pellet to various customers exists.
• The Goldamere Act provides Tasmanian legislation to support the Savage River Operation.
• Final approval for the SDTSF was received in 2014 and construction commenced in Q3 2014
• Interim approval from the Tasmania EPA for pre-stripping work at CP was received in
September 2019. Documentation for final assessment and full approval is currently in
progress and is expected in 2021. There is deemed to be reasonable prospects of the final
approval being obtained without material impact on the quoted reserve.
Classification • The basis for the classification of the Ore Reserves into varying
confidence categories.
• Whether the result appropriately reflects the Competent
Person’s view of the deposit.
• The proportion of Probable Ore Reserves that have been
derived from Measured Mineral Resources (if any).
• Reserve classification is that portion of the mineral resource that resides within an economic
pit design.
• In general, Measured Resources have been converted to Proven Reserves and Indicated
Resources have been converted to Probable Reserves. In cases where there is lower
confidence in a major modifying factor Measured Resources are converted to only a Probable
Reserve. Instances of this assessment are described below
• The result reflects the Competent persons view of the deposit.
• A total of 24.5Mt equal to 47% of the Total Reported Probable Reserves has been derived
from Measured Resources.
• Measure Resources within the final West Wall cut back of North Pit has been assessed as
Probable Reserves and due to lower geotechnical and economic confidence.
• Measured Resources with Stage 2 and Stage 3 of Centre Pit has been assessed as Probable
Reserves pending the final environmental approval from the Tasmanian Government.
Audits or reviews • The results of any audits or reviews of Ore Reserve estimates. • The Feasibility Study that was completed in September 2006 had been peer reviewed by
Australian Mining Consultants (AMC) for the NP reserve for the mine life extension project
(MLEP).
• The CP feasibility was reviewed by AMC Consultants Pty Ltd (AMC) in September 2019. AMC
concluded that the feasibility study supported the reported Ore Reserve and the requirements
of the JORC Code.

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Criteria JORC Code explanation Commentary
Discussion of
relative accuracy/
confidence
• Where appropriate a statement of the relative accuracy and
confidence level in the Ore Reserve estimate using an approach
or procedure deemed appropriate by the Competent Person.
For example, the application of statistical or geostatistical
procedures to quantify the relative accuracy of the reserve
within stated confidence limits, or, if such an approach is not
deemed appropriate, a qualitative discussion of the factors
which could affect the relative accuracy and confidence of the
estimate.
• The statement should specify whether it relates to global or
local estimates, and, if local, state the relevant tonnages, which
should be relevant to technical and economic evaluation.
Documentation should include assumptions made and the
procedures used.
• Accuracy and confidence discussions should extend to specific
discussions of any applied Modifying Factors that may have a
material impact on Ore Reserve viability, or for which there are
remaining areas of uncertainty at the current study stage.
• It is recognised that this may not be possible or appropriate in
all circumstances. These statements of relative accuracy and
confidence of the estimate should be compared with
production data, where available.
• Global reconciliations and bench reconciliations are used to feedback into the resource model.
Regular reconciliations show a good performance of model vs actual. Global Reserve
Reconciliation for 2020 demonstrates actual concentrate produced plus net change in
stockpiles at end of the year was within 10% tolerance range of model prediction.
• Reconciliations are calculated from material survey movement against changes in stockpiles
and actual magnetite concentrate production.
• Grange believes that the relative accuracy and confidence in the Mineral Resources is
appropriate for the generally- accepted error ranges understood by the resource confidence
categories which have been allocated.
• Historically model predictions are normally within10% of actual production.
• Modifying factors apply globally, and metallurgical factors are reviewed annually.
• Some factors are applied locally, for example geotechnical parameters are applied locally.
• All modifying factors are reviewed annually.
• Modifying Factors are reviewed periodically with reconciliations to evaluate accuracy and
confidence of the estimates.
• Relative accuracy of the mod factors compares well with production data which is compared
on a monthly and annual basis.

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APPENDIX B – PLANS & SECTIONS

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Figure 5: Image of Savage River Site Infrastructure, Jan 2021
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Figure 6 Regional Geology (2008)

34a Alexander St, Burnie Tasmania 7320

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Figure 7 North Pit Typical Cross Section

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Figure 8 Centre Pit Typical Cross Section

34a Alexander St, Burnie Tasmania 7320

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Figure 9 South Deposit Typical Cross section

34a Alexander St, Burnie Tasmania 7320

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Figure 10 Long Plains Typical Cross Section

34a Alexander St, Burnie Tasmania 7320

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APPENDIX C - DRILL HOLE DATA

Pursuant to the guidelines established in the JORC Code (2012 Edition), the following tables represents the drill hole intercepts which support the Mineral Resource and Ore Reserve estimates for Savage River. Ten (10) new holes have been added for the calendar year 2020.

Table 15 North Pit Drill Intercepts December 2020

Hole ID y x z dip azimuth Depth from depth_to Max depth
DH001 9402 6680 328 -41 102 29.9 171 203.6
DH002 9550 6852 374 -45 295 94.5 219 263
DH017 8528 6644 196 -67 276 1.2 61.6 65.5
DH025 8878 6708 257.5 -65 270 1.52 102.4 228.3
DH026 9229 6777 358.1 -64 270 9.1 170.7 181.4
DH027 9780.5 6862 365.8 -51 270 134.88 174.04 291.1
DH043 9990 6888 354.5 -45 275 158.5 164 186.5
DH049 9020 6666.5 309 -50 274 41 75.8 88.4
DH050 8913.5 6602.5 296 -48 94 23.8 155.4 209.1
DH051 9242 6670 335.3 -55 94 3.7 198.1 234.7
DH052 9305 6825 344.5 -57 286 105.2 294.7 326.7
DH053 9653.5 6854 366 -67 286 118.6 323.7 323.7
NDDH0501 9189.93 6822.06 184.96 -69 268.83 102.9 322 483.9
NDDH0503 9540.12 6449.18 260.48 -59.25 90.91 475.1 699.55 783.1
NDDH0504 9388.61 6657.56 117.62 -57.05 89.13 0 315.1 333.95
NDDH0505 9485.02 6671.36 111.99 -53.06 91.43 56 259.75 314.8
NDDH0506 9292.96 6642.49 126.69 -59.45 92.84 64.5 349.4 351.35
NDDH0507 9734.73 6542.32 241.28 -54.84 94.71 302.45 507.3 560.5
NDDH0508 9644.22 6455.2 254.94 -55.45 89.55 282 477.4 477.4
NDDH0601 9867.3 6485.09 295.68 -48.2 74.57 289.95 534 603.4
NDDH0602 9954.83 7140.54 352.08 -45.37 267.48 473.85 697.5 750.1
NDDH0606 9054.26 6615.67 201.85 -54.06 89.134 47.6 275.5 285.5
NDDH0607 8991.057 6606.536 206.8 -56.25 88.54 29.9 317.5 317.5
NDDH0608 9641.15 6666.98 127.82 -55.11 270.91 0 105.8 107.3
NDDH0609 9591.288 6670.324 122.01 -55.19 273.94 15.7 148 201.5
NDDH0610 9586.944 6672.043 122.079 -54.81 230.42 3.2 88 130.5
NDDH0611 9464.161 6698.912 110.782 -55.81 296.06 71.5 124.1 181.5
NDDH0612 9461.92 6697.271 110.766 -55.51 260.62 61.9 127.65 146.6
NDDH0613 9648.64 6670.637 128.377 -53.09 92.11 2.7 294.3 315.5
NDDH0614 8995.886 6810.811 207.939 -52.63 250.37 127.1 275 276.3
NDDH0615 9083.07 6840.69 197.31 -63.54 313.2 147.3 260.75 263.6
NDDH0616 9081.66 6842.9 197.6 -61.71 272.79 137 244.4 287.7
NDDH07002 8690.88 6790.43 205.86 -56.18 269.99 141.2 200.8 225.4
NDDH07022 8840.53 6767.49 215.75 -60.26 264.85 112 158.1 243.2

34a Alexander St, Burnie Tasmania 7320

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Table 15 North Pit Drill Intercepts December 2020

Hole ID y x z dip azimuth Depth from depth_to Max depth
NDDH07023 8990 6810 203 -53.23 273.46 120 178 204.2
NDDH08035 9533.603 6801.999 70.817 -90 0 0 25 25
NDDH08036 9328.3 6780.404 76.429 -60 346 0 47.2 47.2
NDDH08037 9466.526 6796.751 65.583 -60 350 0 10 10
NDDH08038 9466.526 6796.751 65.583 -60 13 0 41 41
NDDH09054 10143.68 6709 324.17 -49.275 95.2 64 134.3 163.7
NDDH09055 10186.25 6704.64 324.93 -49.225 87.58 91.5 126.6 149.6
NDDH09056 10041.17 6712.029 320.244 -59.3 97.34 49.8 110.6 118.4
NDDH09057 10398.41 6695.08 337.07 -50.12 93.54 78 96 177.6
NDDH09063 10275.96 6872.747 334.552 -49.1 285.19 189.7 195.5 259.5
NDDH09064 9990.097 6630.287 297.587 -50 92.24 40 233 349.3
NDDH09065 9939.886 6945.092 322.072 -50.67 270.57 257.25 298.5 329.2
NDDH10066 10040.79 6940.798 322.719 -52.7 264.3 225 300.5 368.5
NDDH10067 10139.98 6621.28 306.086 -47.59 95.3735 79 264.9 296.3
NDDH10068 10089.87 6686.573 290.077 -49.68 88.55 84.5 167.6 206.5
NDDH10069 9939.829 6707.544 275.308 -50.63 93.55 61.55 80.5 177.8
NDDH10070 10036.89 6894.271 306.162 -49.75 295.18 148.9 247.15 295.1
NDDH10071 10126.39 7014.83 335.62 -52.5 254.03 373.2 486.7 510
ND001 9740 6865.5 363.46 -45 270 116 317.6 326
ND002 9542.5 6910.5 350.87 -45 270 138.5 338.8 380
ND003 9134 6553.5 273 -45 90 198.8 285.5 309
ND004 9291 6817 345.05 -45 270 50.1 175.9 175.9
ND034 9490.5 6789.9 347.6 -45 270 0 51.8 85
ND035 9440 6758.4 347.5 -45 270 0 76.5 85
ND036 9440.8 6759.4 347.5 -45 90 0 65 71
ND037 9391.1 6770.9 347.3 -45 270 3.5 97.7 102.5
ND038 9312 6772.5 349.7 -45 270 4.4 94.8 127.5
ND039 9339.6 6723.2 347.7 -45 270 0 34.1 78.5
ND040 9640 6744 357.6 -45 90 27.7 81.5 86
ND041 9540 6820 347 -45 241 19.7 108.5 108.5
ND042 9538.5 6765.4 346.5 -45 90 0 64.7 75.5
ND043 9194.7 6772.4 336.3 -45 270 2.5 131.8 147
ND044 9250.3 6729.1 352.6 -50 270 14.5 72.9 112.7
ND045 9005.8 6658 308.6 -55 270 30 60.3 69.2
ND046 9141.3 6663.3 322.7 -55 270 1.5 56 56
ND047 9540.9 6765.4 348 -50 270 0 14.7 43
ND048 9489.9 6791.6 337.9 -45 90 0 30.2 59
ND050 9491.2 6834.4 336.6 -45 270 34.5 129.3 145.5
ND051 9389.7 6810.3 328.7 -45 270 65 137.1 159.5

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 15 North Pit Drill Intercepts December 2020

Hole ID y x z dip azimuth Depth from depth_to Max depth
ND052 9338.7 6759.9 321.5 -45 270 1.5 71.5 110
ND053 9129.9 6756.2 292.7 -45 270 33.3 72.7 72.7
ND055 9090.5 6608.6 300.7 -40 90 50 137 137
ND056 9189.4 6831.3 305.2 -45 270 104 165.7 210.5
ND057 9390.1 6875.3 327.8 -45 270 134.2 149 149
ND058 8741.6 6591.9 236.6 -45 90 70.2 144.2 153.5
ND059 9590.45 6704.5 341.54 -60 90 45.5 262.3 262.3
ND060 8949.8 6677.7 270.2 -65 270 12 110 110
ND061 8831.8 6713.8 258.2 -50 270 42.5 85.5 110
ND062 9041.5 6566.3 286.4 -40 90 81.6 165 165
ND063 9639.2 6690.3 344.3 -45 90 91.4 209.4 228.5
ND064 9439.9 6657.7 310.6 -45 90 85.1 217.2 240
ND065 8646 6619.3 230.7 -55 90 21.5 101 110
ND071 9091.14 6723.38 199.24 -48 267.53 0 24.3 103
ND072 9348.31 6724.22 215.62 -42 91.18 0 93.5 103
ND073 9482.47 6748.41 219.36 -45 82.56 4.1 111.2 130
ND076 8590.7 6527.6 178.4 -37 89.6 137.1 173.1 173.1
ND077 8504.1 6589 202.7 -45 90.7 29.2 39.2 74.2
ND080 9739.7 6590 316.9 -56.06 92.32 27.4 466.05 530
ND081 9655.5 6606.1 308.6 -54 89.1 115.3 412.7 516
ND082 9189.9 6886.5 287.3 -57 271.7 184.7 327.3 407.7
ND083 9352.3 6584.2 279.5 -60 92.1 294.6 472.4 525.7
ND085 9529.9 6559.2 292.8 -49 89.3 156.3 432.2 550
ND086 9794.8 6596.2 323.3 -55 77.65 67.8 377.3 433.1
ND089 8698.6 6612.1 230.5 -51 135.3 84.1 142.8 340.1
ND094 8944.6 6750.5 207.5 -40 270 65 150 210
ND096 9090.7 6781.4 193.5 -60 270 70.6 136 185.1
ND097 8889.9 6753.5 213.8 -65 270 92.9 213.3 257.5
ND099 8739.9 6714.2 225.5 -65 270 63.6 111.3 137
ND100 8639.6 6583.9 234 -65 90 175.8 214.7 214.7
ND101 8521.2 6543.3 198.1 -49 71 145 220.5 235
ND103 8590.2 6640.5 210.8 -50 90 0 38 100
ND104 8675.2 6644.89 212 -60 90 0 87 87
ND106 9798.09 6790.1 352.5 -60 270 74 78 100
ND108 9800.4 6645.5 330.29 -60 95 0 16 60
ND109 9799.9 6643.89 330.2 -60 178 0 78 78
ND110 9750.2 6652 330.6 -60 270 28 90 100
ND111 9749.79 6659.7 330.7 -60 5 36 100 100
ND200101 9789.62 6947.4 341.89 -51.29 267.44 214.4 300.1 370

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 15 North Pit Drill Intercepts December 2020

Hole ID y x z dip azimuth Depth from depth_to Max depth
ND200102 9390.033 6719.181 119.063 -59.042 269.122 0 87.9 162.4
ND200103 9390.135 6720.854 119.189 -54.912 86.295 0 172.4 185
ND200104 9836.85 6903.31 341.88 -55.23 270.04 198 287.7 296.2
ND200111 9739.838 6979.676 341.881 -47.21 271.33 213 352.3 380.1
NPRC07009 9105.78 6719.31 148.24 -57.876 337.2032 0 37 72
NPRC07010 9112.73 6716.86 147.41 -61.841 252.0958 0 42 71
NPRC07011 9081.36 6716.84 151.2 -64.572 296.1001 0 50 70
NPRC07012 9077.23 6718 151.6 -53.825 251.1153 0 49 80
NPRC07013 9027 6707 156 -55 253 5 20 88
NPRC07014 9029.5 6703.78 156.09 -64.757 296.175 0 26 88
NPRC07015 8977.21 6699.21 161.07 -54.1 287.0837 6 63 100
NPRC07016 8978.04 6701.35 160.96 -56.4111 256.423 7 94 120
NPRC07017 8839.52 6686.57 175.13 -56.739 270.4641 0 49 60
NPRC07018 8792.69 6678.09 179.77 -63.2 270.3655 0 40 41
NPRC07019 8889.9 6692.85 170.32 -66.2 271.2419 0 86 91
NPRC07020 8917.09 6781.54 216.36 -53.5 279.0318 115 152 154
NPRC07021 8889.58 6817.76 218.09 -59.748 266.5621 166 195 195
NPRC09039 9000.85 6713.8 140.1 -50.52 273.15 7 40 40
NPRC09040 8991.8 6709.82 139.72 -49.11 274.26 6 40 60
NPRC09041 8989.34 6727.07 139.96 -49.63 267.24 21 60 60
NPRC09042 9015 6725.14 139.81 -48.4 270 15 41 50
NPRC09043 9040 6748.44 139.64 -50.4 270 9 65 65
NPRC09044 9015 6746.74 139.08 -50.5 270 25 70 70
NPRC09045 9002.5 6731.34 139.85 -50.2 270 23 54 60
NPRC09046 10189.39 6754.17 335.31 -49.6 80.51 29 70 85
NPRC09047 10213.5 6743.89 334.9 -49.1 95.03 29 72 75
NPRC09048 10144.84 6738.615 322.991 -49.7 90.17 30 100 100
NPRC09051 10087.13 6735.13 321.92 -49.5 87.04 25 58 70
NPRC09052 10039.94 6760.43 321.623 -49.5 79.59 4 32 70
NPRC09053 9995.216 6757.992 321.293 -49.37 85.48 4 7 70
NPRC09058 10337.78 6740.552 323.678 -48.1 93.6 43 48 82
NPRC09059 10313.37 6757.432 322.806 -53.5 89.3 18 35 58
NPRC09060 10304.49 6743.544 322.724 -46.1 117.4 52 54 82
NPRC09061 10392.04 6742.29 336.48 -46.6 86 10 56 76
NPRC09062 10376.56 6731.72 336.36 -47.4 99.5 50 64 76
NPRC10072 9989.97 6711.54 275.82 -53.7 90.4 51 78 124
NPRC10073 9932.04 6741.96 275.9 -48.5 128.1 6 41 91
NPRC10076 8790.003 6670.836 100.615 -53.08 89.694 0 114 119
NPRC10077 10390.08 6747.469 304.683 -48 270 75 79 100

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 15 North Pit Drill Intercepts December 2020

Hole ID y x z dip azimuth Depth from depth_to Max depth
NPRC10079 10339.88 6747.98 304.017 -48.9 272.1 62 84 100
NPRC10086 8589.535 6688.686 167.37 -60.4 273.39 37 94 105
NPRC10087 8600.912 6718.978 168.552 -59.37 258.57 94 114 114
NPRC10089 8764.998 6719.726 95.247 -60.79 227.054 18 57 108
NPRC10091 8690 6648.356 153.67 -55.8 94.233 1 84 84
NPRC10092 8550.535 6674.934 167.556 -59.7 257.742 21 66 66
NPUG2018_01 9087.21 7383.34 343.76 -57.9482 257.312 1029.65 1033.4 1121.9
NPUG2018_02 9942.885 7046.824 276.751 -68.8791 265.075 646 844.35 875
NPUG2018_03 9941.983 7044.24 276.336 -65.2942 264.373 570.6 697.6 758.9
NPUG2018_04 10084.89 7022.968 289.778 -64.745 276.9851 550.3 789 997
NPUG2018_05 9137.293 7334.168 343.606 -53.9299 273.088 774.1 1058.9 1088.1
NPUG2018_06 9138.796 7331.796 343.242 -49.58 269.778 716.1 850.5 887.5
NPUG2018_07 10085.07 7025.229 289.616 -72.25 268.151 755.8 883.2 939.3
NPUG2018_08 9293.556 7321.731 345.767 -51.5329 270.697 713.05 827.1 827.1
NPUG2018_09 9293.568 7320.973 345.31 -54.57 271.09 811 897.9 983.3
NPUG2018_10 9481.995 7324.031 351.197 -53.014 265.9 783.85 1055 1115
NPUG2018_11 10308 6590.512 276.735 -61.3885 136.31 241 565 638.6
NPUG2018_12 9482.057 7323 351.15 -50.2046 269.079 692.7 895.75 968.2
NPUG2018_13 10216.16 6971.421 294.859 -70.53 260.018 660.2 855.2 956.7
NPUG2018_14 9614.262 7290.303 350.437 -53.2836 269.466 669.8 945.8 1131
NPUG2018_15 9086.942 7381.824 343.83 -50.8 265.152 776.9 899.1 971.1
NPUG2018_16 9804.691 7199.384 342.744 -66.9201 258.79 866.65 1122.1 1148.6
NPUG2018_17 9804.419 7196.893 342.764 -57.405 263.101 642.3 934.5 1022.2
NPUG2018_18b 9803.277 7197.891 342.892 -64.0149 269.075 819.9 984.1 1028.5
NPUG2018_19 10217.08 6970.59 295.244 -46.4986 279.85 290.2 406.4 722.6
NP2018_05 9882.194 6779.406 32.673 -48.47 259.5 0 255.95 292.5
NP2018_06 9885.426 6783.677 32.803 -49.1418 48.3634 0 13 202
NP8845 9141 6622 281 -90 0 0 12 12
NP8865 9215 6740 255 -90 0 0 3 3
NRC200403 9820.73 6759.76 278.89 -54.7 89.34 0 4 65
NRC200405 9819.91 6736.76 281.49 -52.5 87.45 29 81 102
NRC200406 9843.09 6753.54 280.27 -54.7 92.24 2 29 102
NRC200408 9845.05 6725.09 283.13 -54.5 90.35 52 96 102
NRC200509 9756.8 6717.1 221.8 -55 140.4 62 152 152
NRC200510 9754.99 6764.5 220.2 -59.5 176.28 0 140 140
NRC200611 9031.819 6804.908 202.801 -58.96 267.68 98 172 202
NRC200612 9171.709 6777.39 149.833 -56.3409 245.467 28 168 180
NRC200613 9231.484 6793.534 150.227 -58.4 267.943 38 194 196
NRC200614 8991.752 6796.932 207.957 -59.13 268.78 104 156 196

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 15 North Pit Drill Intercepts December 2020

Hole ID y x z dip azimuth Depth from depth_to Max depth
NRC200615 8788.299 6746.407 211.485 -60.75 272.96 86
142
170
UDDH2019_02 8752.005 6961.089 109.8 -33 263 284.4
341
381.1
UDDH2019_03 8754.098 6961.883 109.657 -44 305 344.2
499
652.9
UDDH2019_04 8753.246 6961.587 109.496 -53.23 282.174 391.7
528.8
563.2
UDDH2019_05 8830.116 7057.952 89.566 -38.4858 302.2642 446.3
530.4
846.1
UDDH2019_06 8964.937 7118.509 67.57 -25.3 284.3 363.4
488.3
615.1
UDDH2019_07 9102.507 7159.779 47.102 -18.97 276.1 366.5
494.5
632.5
UDDH2019_08 9102.57 7159.98 46.62 -35.9 277.8 431.4
537.6
813.3
UDDH2020_10 9370.961 7159.165 3.646 -31.5 282 402.7
569.8
670
UDDH2020_12 9370.75 7158.016 3.171 -32.5 271 400
568.4
650.6
UDDH2020_13 9371.304 7158.462 3.844 -21.76 281.192 367.6
509
592.3
UDDH2020_14A 9502.08 7094.13 -17.39 -37 279 345.2
567.9
617.8
UDDH2020_15 9502.959 7095.005 -16.939 -38.4514 301.1161 400.7
642
735
UDDH2020_16 9502.833 7094.622 -16.985 -31.105 295.3375 343.6
384.4
384.4

Table 16 Long Plains Drill Hole Intercepts

Hole ID x y z dip azimuth Depth from Depth to Max depth
IMI28 348036.0 5396583.0 280.0 -47.0 259.0 24.4 83.3 166.7
IMI29 348011.0 5396883.0 263.0 -50.0 258.0 111.9 115.2 182.9
IMI29 348011.0 5396883.0 263.0 -50.0 258.0 141.6 151.2 182.9
IMI29 348011.0 5396883.0 263.0 -50.0 258.0 79.4 90.3 182.9
IMI29 348011.0 5396883.0 263.0 -50.0 258.0 16.5 36.3 182.9
IMI30 348311.0 5395383.0 230.0 -45.0 255.0 128.5 157.0 192.0
IMI30 348311.0 5395383.0 230.0 -45.0 255.0 98.4 110.8 192.0
IMI30 348311.0 5395383.0 230.0 -45.0 255.0 58.2 83.1 192.0
IMI35 347976.0 5397188.0 253.0 -85.0 257.0 65.2 79.8 137.8
IMI46 347976.0 5397188.0 253.0 -44.0 257.0 98.5 116.5 233.5
IMI46 347976.0 5397188.0 253.0 -44.0 257.0 30.9 46.4 233.5
LPC06001 347832.3 5396884.2 274.3 10.0 97.4 52.0 52.1 136.0
LPC06001 347832.3 5396884.2 274.3 10.0 97.4 85.7 97.3 136.0
LPC06001 347832.3 5396884.2 274.3 10.0 97.4 115.4 122.0 136.0
LPC06002 347824.7 5396929.2 275.5 7.6 73.1 72.0 72.1 182.5
LPC06002 347824.7 5396929.2 275.5 7.6 73.1 140.0 142.3 182.5
LPC06002 347824.7 5396929.2 275.5 7.6 73.1 151.0 156.0 182.5
LPC06003 347878.8 5396989.0 278.3 5.4 99.5 18.1 31.0 115.5
LPC06003 347878.8 5396989.0 278.3 5.4 99.5 86.0 90.0 115.5
LPC06004 347789.9 5396998.1 274.6 -22.7 74.1 184.0 185.4 222.0
LPC06005 347839.9 5397087.9 262.6 6.8 102.3 29.0 29.0 157.0
LPC06005 347839.9 5397087.9 262.6 6.8 102.3 70.5 71.2 157.0
LPC06006 347800.3 5397139.9 251.4 1.5 96.4 66.2 98.9 232.0

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 16 Long Plains Drill Hole Intercepts

Hole ID x y z dip azimuth Depth from Depth to Max depth
LPC06006 347800.3 5397139.9 251.4 1.5 96.4 121.2 141.9 232.0
LPC06006 347800.3 5397139.9 251.4 1.5 96.4 166.9 169.2 232.0
LPC06007 347794.8 5397184.6 238.6 11.0 94.8 85.0 104.0 226.0
LPC06007 347794.8 5397184.6 238.6 11.0 94.8 117.8 125.3 226.0
LPC06007 347794.8 5397184.6 238.6 11.0 94.8 130.6 146.2 226.0
LPC06008 347937.0 5396682.3 282.4 2.3 90.2 4.1 28.0 56.5
LPC06008 347937.0 5396682.3 282.4 2.3 90.2 43.3 56.5 56.5
LPC06009 347994.8 5396703.8 287.8 -2.6 71.5 35.1 39.0 75.5
LPC06010 347968.4 5396582.5 277.1 6.8 86.4 8.0 48.9 111.0
LPC06010 347968.4 5396582.5 277.1 6.8 86.4 72.0 79.0 111.0
LPC06011 347955.3 5396486.3 269.4 7.2 93.1 12.0 22.4 90.5
LPC06011 347955.3 5396486.3 269.4 7.2 93.1 69.1 73.1 90.5
LPC06012 347996.7 5396384.1 264.2 11.9 91.2 32.0 33.0 35.0
LPC06012 347996.7 5396384.1 264.2 11.9 91.2 9.0 15.1 35.0
LPDD1103 348437.0 5394660.0 259.3 -54.3 89.6 71.0 76.0 293.2
LPDD1103 348437.0 5394660.0 259.3 -54.3 89.6 123.5 137.5 293.2
LPDD1103 348437.0 5394660.0 259.3 -54.3 89.6 184.3 186.0 293.2
LPDD1103 348437.0 5394660.0 259.3 -54.3 89.6 232.0 245.5 293.2
LPDD1204 348295.4 5394950.2 259.4 -59.6 94.1 97.2 143.6 488.3
LPDD1204 348295.4 5394950.2 259.4 -59.6 94.1 175.1 215.0 488.3
LPDD1204 348295.4 5394950.2 259.4 -59.6 94.1 220.2 297.3 488.3
LPDD1204 348295.4 5394950.2 259.4 -59.6 94.1 297.3 352.0 488.3
LPDD1205 348194.8 5395260.0 240.7 -57.4 84.4 24.0 31.2 278.5
LPDD1205 348194.8 5395260.0 240.7 -57.4 84.4 66.6 120.7 278.5
LPDD1205 348194.8 5395260.0 240.7 -57.4 84.4 120.7 145.0 278.5
LPDD1205 348194.8 5395260.0 240.7 -57.4 84.4 166.9 179.6 278.5
LPDD1212 348080.5 5396392.0 267.1 -59.8 268.0 219.9 235.2 301.3
LPDD1212 348080.5 5396392.0 267.1 -59.8 268.0 124.0 132.1 301.3
LPDD1212 348080.5 5396392.0 267.1 -59.8 268.0 145.4 159.1 301.3
LPDD1212 348080.5 5396392.0 267.1 -59.8 268.0 265.3 269.0 301.3
LPDD1212 348080.5 5396392.0 267.1 -59.8 268.0 55.1 61.3 301.3
LPDD1215 348123.4 5396480.0 271.8 -57.0 273.3 204.6 252.2 301.4
LPDD1215 348123.4 5396480.0 271.8 -57.0 273.3 178.1 189.9 301.4
LPDD1218 348088.8 5396580.1 282.3 -60.0 270.0 101.5 232.1 288.1
LPDD1218 348088.8 5396580.1 282.3 -60.0 270.0 74.0 81.2 288.1
LPDD1220 348083.7 5396676.4 275.6 -52.3 259.3 178.8 207.5 236.6
LPDD1220 348083.7 5396676.4 275.6 -52.3 259.3 61.0 165.9 236.6
LPDD1223 347995.5 5396772.0 290.5 -73.5 281.0 142.3 201.2 300.0
LPDD1223 347995.5 5396772.0 290.5 -73.5 281.0 33.1 103.3 300.0
LPDD1228 347988.9 5397078.4 263.7 -60.8 274.5 111.9 156.5 270.2
LPDD1228 347988.9 5397078.4 263.7 -60.8 274.5 79.7 107.0 270.2
LPDD1228 347988.9 5397078.4 263.7 -60.8 274.5 24.5 52.4 270.2
LPDD1229 348007.1 5397181.1 254.7 -60.0 270.0 175.1 183.8 261.8
LPDD1229 348007.1 5397181.1 254.7 -60.0 270.0 74.4 83.9 261.8
LPDD1301 347991.7 5397130.3 262.2 -61.0 270.0 131.0 167.0 201.8

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 16 Long Plains Drill Hole Intercepts

Hole ID x y z dip azimuth Depth from Depth to Max depth
LPDD1301 347991.7 5397130.3 262.2 -61.0 270.0 37.0 48.9 201.8
LPDD1302 347992.2 5397130.3 262.1 -71.0 270.0 192.5 203.7 228.7
LPDD1302 347992.2 5397130.3 262.1 -71.0 270.0 72.0 78.0 228.7
LPDD1306 347795.3 5396931.7 276.3 -47.0 88.6 173.5 243.0 488.2
LPDD1306 347795.3 5396931.7 276.3 -47.0 88.6 278.2 300.0 488.2
LPDD1307 347845.6 5396939.3 283.4 -49.5 94.3 93.0 145.0 260.5
LPDD1307 347845.6 5396939.3 283.4 -49.5 94.3 158.7 174.0 260.5
LPDD1307 347845.6 5396939.3 283.4 -49.5 94.3 203.9 209.3 260.5
LPDD1309 347948.2 5396780.6 290.5 -69.5 92.7 46.3 172.9 284.7
LPDD1309 347948.2 5396780.6 290.5 -69.5 92.7 242.9 257.1 284.7
LPDD1310 348081.8 5396676.7 270.0 -74.1 270.0 154.0 309.8 309.8
LPDD1311 348070.8 5396534.4 281.9 -70.9 261.2 162.6 241.0 271.6
LPDD1311 348070.8 5396534.4 281.9 -70.9 261.2 120.0 129.0 271.6
LPDD1312 348090.0 5396160.0 262.5 -65.0 270.0 101.0 153.6 222.2
LPDD1313 348133.6 5396058.8 258.6 -72.0 279.3 172.0 206.4 298.8
LPDD1313 348133.6 5396058.8 258.6 -72.0 279.3 170.2 172.0 298.8
LPDD1313 348133.6 5396058.8 258.6 -72.0 279.3 128.3 166.5 298.8
LPDD1314 348159.5 5395961.3 251.1 -69.9 259.0 190.0 228.4 283.8
LPDD1314 348159.5 5395961.3 251.1 -69.9 259.0 150.8 183.1 283.8
LPDD1314 348159.5 5395961.3 251.1 -69.9 259.0 78.0 119.1 283.8
LPDD1315 348156.0 5395864.4 246.3 -76.0 270.0 175.3 204.7 312.7
LPDD1315 348156.0 5395864.4 246.3 -76.0 270.0 83.0 137.2 312.7
LPDD1315 348156.0 5395864.4 246.3 -76.0 270.0 5.0 43.0 312.7
LPDD1316 348158.5 5395867.8 246.3 -50.0 209.0 197.6 216.6 303.6
LPDD1316 348158.5 5395867.8 246.3 -50.0 209.0 140.8 171.3 303.6
LPDD1316 348158.5 5395867.8 246.3 -50.0 209.0 8.4 39.1 303.6
LPDD1318 347988.9 5397078.4 263.7 -75.8 274.5 143.7 220.0 245.9
LPDD1318 347988.9 5397078.4 263.7 -75.8 274.5 112.6 121.0 245.9
LPDD1318 347988.9 5397078.4 263.7 -75.8 274.5 34.2 69.1 245.9
LPDDH0707 347942.1 5397183.3 262.0 -55.3 268.4 52.3 89.6 156.2
LPDDH0707 347942.1 5397183.3 262.0 -55.3 268.4 37.0 46.7 156.2
LPDDH0707 347942.1 5397183.3 262.0 -55.3 268.4 5.0 23.9 156.2
LPDDH100 347993.0 5397029.0 260.0 -50.0 255.0 111.0 154.2 181.0
LPDDH100 347993.0 5397029.0 260.0 -50.0 255.0 78.0 105.0 181.0
LPDDH100 347993.0 5397029.0 260.0 -50.0 255.0 32.8 46.7 181.0
LPDDH101 347945.5 5397030.4 274.9 -50.0 255.0 34.9 80.0 95.0
LPDDH101 347945.5 5397030.4 274.9 -50.0 255.0 26.1 28.0 95.0
LPDDH102 347896.2 5397018.7 275.8 -50.0 255.0 0.0 10.0 49.0
LPDDH103 348038.0 5397041.0 249.0 -50.0 255.0 180.6 199.0 199.0
LPDDH103 348038.0 5397041.0 249.0 -50.0 255.0 144.2 175.6 199.0
LPDDH103 348038.0 5397041.0 249.0 -50.0 255.0 81.7 96.5 199.0
LPRC07001 347942.2 5397124.9 267.4 -60.4 270.1 52.0 125.0 160.0
LPRC07001 347942.2 5397124.9 267.4 -60.4 270.1 7.0 36.0 160.0
LPRC07002 347936.1 5397080.0 266.9 -70.8 270.2 54.0 119.0 154.0
LPRC07002 347936.1 5397080.0 266.9 -70.8 270.2 34.0 45.6 154.0

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 16 Long Plains Drill Hole Intercepts

Hole ID x y z dip azimuth Depth from Depth to Max depth
LPRC07003 347891.0 5396985.0 280.0 -68.8 94.9 21.0 120.0 184.0
LPRC07003 347891.0 5396985.0 280.0 -68.8 94.9 123.0 163.0 184.0
LPRC07003 347891.0 5396985.0 280.0 -68.8 94.9 179.5 184.0 184.0
LPRC07004 347895.8 5396985.0 282.1 -56.0 92.3 2.1 41.0 160.0
LPRC07004 347895.8 5396985.0 282.1 -56.0 92.3 54.0 92.0 160.0
LPRC07004 347895.8 5396985.0 282.1 -56.0 92.3 102.0 121.0 160.0
LPRC07005 347908.0 5397133.7 263.9 -60.5 270.0 6.0 70.0 167.0
LPRC07006 347896.8 5397082.1 265.9 -70.4 270.4 23.0 66.0 93.0
LPRC1113 348042.6 5396380.1 271.2 -60.1 269.2 144.0 155.0 220.0
LPRC1113 348042.6 5396380.1 271.2 -60.1 269.2 29.3 33.3 220.0
LPRC1113 348042.6 5396380.1 271.2 -60.1 269.2 79.1 88.4 220.0
LPRC1113 348042.6 5396380.1 271.2 -60.1 269.2 200.0 203.0 220.0
LPRC1114 347973.9 5396383.2 266.9 -58.1 273.8 6.0 17.0 103.0
LPRC1114 347973.9 5396383.2 266.9 -58.1 273.8 45.0 58.0 103.0
LPRC1116 348044.8 5396479.9 281.3 -57.1 269.4 47.0 114.0 200.0
LPRC1116 348044.8 5396479.9 281.3 -57.1 269.4 29.0 42.0 200.0
LPRC1117 347972.8 5396480.0 274.6 -58.7 273.0 3.5 15.0 100.0
LPRC1121 348007.5 5396674.8 290.5 -55.7 266.8 74.0 111.0 196.0
LPRC1121 348007.5 5396674.8 290.5 -55.7 266.8 1.5 49.0 196.0
LPRC1122 347950.0 5396679.9 287.2 -60.3 269.5 0.0 16.0 106.0
LPRC1127 347929.0 5396879.6 292.6 -59.7 276.2 0.0 21.0 100.0
LPRC1127 347929.0 5396879.6 292.6 -59.7 276.2 65.0 73.0 100.0
LPRC1209 348156.7 5396270.1 258.9 -57.3 262.9 127.0 131.0 131.0
LPRC1210 348075.1 5396280.1 262.1 -59.3 271.3 135.0 170.0 200.0
LPRC1210 348075.1 5396280.1 262.1 -59.3 271.3 7.0 22.0 200.0
LPRC1210 348075.1 5396280.1 262.1 -59.3 271.3 42.3 57.5 200.0
LPRC1211 348013.9 5396278.7 258.8 -59.5 277.1 37.0 61.0 88.0
LPRC1224 347996.1 5396774.1 290.5 -58.2 272.1 95.6 141.0 200.0
LPRC1224 347996.1 5396774.1 290.5 -58.2 272.1 24.8 76.0 200.0
LPRC1225 347943.3 5396780.4 290.4 -61.3 276.2 25.4 66.0 100.0
LPRC1308 347949.1 5396780.6 290.6 -48.0 92.0 39.3 61.0 166.0
LPRC1308 347949.1 5396780.6 290.6 -48.0 92.0 127.0 136.0 166.0
LPRC1310 348085.2 5396674.6 275.7 -74.0 270.0 150.8 153.0 153.0
LPRC1317 348091.7 5396161.5 262.5 -65.0 90.0 17.0 28.0 149.0
LPRC1317 348091.7 5396161.5 262.5 -65.0 90.0 51.0 62.0 149.0
MC29 347888.1 5397120.9 263.8 -49.3 258.8 8.0 30.8 348.0
rtae1 347991.0 5397143.0 257.0 -45.0 255.0 90.0 145.0 195.0
rtae1 347991.0 5397143.0 257.0 -45.0 255.0 72.1 73.0 195.0
rtae1 347991.0 5397143.0 257.0 -45.0 255.0 26.0 35.0 195.0

Table 17 - South Deposit Drill Hole Intercepts 31 December 2012

Hole ID x y z dip azimuth Depth from Depth to Max depth
IMDD001 4422.5 5477.3 310.1 -50.0 278.9 106.3 176.3 206.3
IMDD002 4436.8 5362.1 290.7 -50.0 283.4 87.5 104.7 175.3

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 17 - South Deposit Drill Hole Intercepts 31 December 2012

Hole ID x y z dip azimuth Depth from Depth to Max depth
IMDD002 4436.8 5362.1 290.7 -50.0 283.4 104.7 124.6 175.3
IMDD003 4348.1 5334.9 298.1 -50.0 271.6 98.2 142.1 167.2
IMDD004 4342.2 5410.9 307.2 -49.5 274.3 58.7 85.2 123.0
IMDD005 4337.7 5468.9 313.9 -50.0 273.7 130.5 134.5 134.5
IMDD006 4242.2 5387.3 307.9 -50.0 273.4 33.0 40.9 87.0
IMDD007 4504.0 5262.7 285.4 -50.0 94.3 74.2 85.7 151.5
IMDD007 4504.0 5262.7 285.4 -50.0 94.3 85.7 144.3 151.5
IMDD008 4237.0 5252.1 310.5 -50.0 299.9 56.6 95.5 95.5
IMDD009 4490.8 5427.0 307.2 -58.0 282.3 38.0 45.0 117.3
IMDD010 4399.7 5430.0 309.3 -50.0 273.7 38.6 116.9 124.5
IMDD011 4398.0 5321.4 295.6 -61.0 274.3 92.6 106.1 141.7
IMDD011 4398.0 5321.4 295.6 -61.0 274.3 122.0 127.7 141.7
IMDD012 4290.8 5414.7 307.4 -50.2 276.9 40.4 86.1 136.0
IMDD013 4553.8 5283.6 258.2 -49.0 93.4 81.8 82.3 136.0
IMDD014 4302.5 5305.0 298.4 -49.0 276.7 70.5 125.4 146.8
IMDD015 4364.3 5302.2 297.5 -56.1 96.3 93.0 158.0 188.1
IMDD016 4257.6 5281.3 304.4 -52.0 94.5 150.1 229.4 239.0
IMDD017 4290.9 5395.6 305.0 -51.5 273.4 13.0 59.5 65.5
IMDD019 4285.2 5514.7 311.2 -55.0 269.5 196.0 253.3 259.0
IMDD019 4285.2 5514.7 311.2 -55.0 269.5 253.3 259.0 259.0
IMDD020 4499.1 5306.9 271.5 -50.5 90.4 4.9 24.9 79.5
IMDD020 4499.1 5306.9 271.5 -50.5 90.4 24.9 61.8 79.5
IMDD021 4295.3 5363.9 301.3 -51.0 265.4 5.7 19.0 264.5
IMDD021 4295.3 5363.9 301.3 -51.0 265.4 154.2 209.7 264.5
IMDD021 4295.3 5363.9 301.3 -51.0 265.4 209.7 222.5 264.5
IMDD021 4295.3 5363.9 301.3 -51.0 265.4 234.0 240.5 264.5
IMDD022 4385.4 5505.7 311.4 -52.0 274.4 180.6 219.6 279.5
IMDD022 4385.4 5505.7 311.4 -52.0 274.4 219.6 223.3 279.5
IMDD023 4394.3 5372.9 303.6 -57.5 278.1 5.5 26.0 234.5
IMDD023 4394.3 5372.9 303.6 -57.5 278.1 154.2 179.2 234.5
IMDD023 4394.3 5372.9 303.6 -57.5 278.1 187.7 199.2 234.5
IMDD024 4203.1 5460.3 313.9 -49.0 274.3 106.1 139.8 149.3
IMDD025 4199.9 5240.6 283.5 -54.0 267.5 45.5 111.0 114.3
IMDD026 4201.5 5306.4 283.6 -48.0 270.6 124.0 147.1 237.1
IMDD026 4201.5 5306.4 283.6 -48.0 270.6 147.1 206.9 237.1
IMDD027 4201.3 5500.1 313.3 -56.7 270.2 143.6 200.8 218.7
IMDD027 4201.3 5500.1 313.3 -56.7 270.2 200.8 205.1 218.7
IMDD029 4131.0 5295.0 301.0 -51.1 268.4 155.2 308.8 345.5
IMDD030 4132.9 5249.6 294.9 -51.5 287.4 90.6 98.0 169.7
IMDD030 4132.9 5249.6 294.9 -51.5 287.4 121.9 129.0 169.7
IMDD030 4132.9 5249.6 294.9 -51.5 287.4 134.5 154.0 169.7
IMDD032 4097.3 5224.9 291.6 -46.0 268.5 84.1 90.2 155.5
IMDD032 4097.3 5224.9 291.6 -46.0 268.5 100.3 105.9 155.5

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 17 - South Deposit Drill Hole Intercepts 31 December 2012

Hole ID x y z dip azimuth Depth from Depth to Max depth
IMDD033 4095.1 5272.3 294.8 -59.5 89.2 213.9 354.0 390.4
IMDD034 4052.8 5250.5 295.6 -54.7 90.4 245.9 313.1 403.9
IMDD035 4094.1 5266.1 294.6 -51.0 270.0 133.6 151.2 223.2
IMDD035 4094.1 5266.1 294.6 -51.0 270.0 151.2 171.3 223.2
IMDD035 4094.1 5266.1 294.6 -51.0 270.0 188.0 196.0 223.2
IMDD036 4102.7 5325.8 293.6 -60.0 88.1 105.7 267.0 287.0
IMDD038 4055.6 5267.2 295.1 -52.0 270.4 158.5 182.3 244.0
IMDD038 4055.6 5267.2 295.1 -52.0 270.4 182.3 193.0 244.0
IMDD039 4052.6 5220.6 295.7 -51.0 268.4 98.5 104.5 148.8
IMDD039 4052.6 5220.6 295.7 -51.0 268.4 104.5 119.8 148.8
SDDD1201 4181.1 5547.6 291.2 -52.3 279.6 190.2 269.5 312.7
SDDD1202 4054.7 5301.0 287.9 -57.5 83.4 156.7 236.7 267.7
SDDD1203 4129.3 5486.1 292.3 -54.7 277.0 127.0 136.0 136.0
SDDD1204 4141.3 5513.1 291.6 -56.2 87.7 168.0 219.2 249.4
SDDD1205 4300.0 5096.9 219.7 -46.2 87.4 209.2 229.9 281.6
SDDD1205 4300.0 5096.9 219.7 -46.2 87.4 229.9 232.4 281.6
SDDD1206 4250.0 5102.0 213.4 -49.4 92.2 159.0 173.8 218.9
SDDD1206 4250.0 5102.0 213.4 -49.4 92.2 173.8 177.4 218.9

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
C88107 6423.00 7651.00 137.00 -90.00 0.00 9.00 18.00 18.00
C88108 6421.00 7631.00 141.00 -90.00 0.00 9.66 18.00 18.00
C88116 6395.00 7674.00 137.00 -90.00 0.00 0.00 18.80 21.00
C88118 6379.00 7439.00 152.00 -90.00 0.00 0.00 2.67 30.00
C88119 6380.00 7410.00 152.00 -90.00 0.00 0.00 6.00 30.00
C88121 6398.00 7319.00 152.00 -90.00 0.00 2.89 3.00 3.00
C88122 6406.00 7344.00 152.00 -90.00 0.00 0.00 30.00 30.00
C88123 6410.00 7365.00 152.00 -90.00 0.00 6.00 30.00 30.00
C88124 6408.00 7394.00 152.00 -90.00 0.00 0.00 12.00 30.00
C88124 6408.00 7394.00 152.00 -90.00 0.00 18.00 30.00 30.00
C88126 6425.00 7418.00 142.00 -90.00 0.00 0.00 8.28 12.00
C88127 6422.00 7444.00 140.00 -90.00 0.00 0.00 18.00 18.00
C88128 6420.00 7471.00 140.00 -90.00 0.00 0.00 9.00 18.00
C88128 6420.00 7471.00 140.00 -90.00 0.00 9.00 18.00 18.00
C88130 6452.00 7443.00 140.00 -90.00 0.00 0.00 3.00 3.00
C88131 6448.00 7413.00 140.00 -90.00 0.00 0.00 18.00 18.00
C88132 6452.00 7393.00 142.00 -90.00 0.00 0.00 18.00 18.00
C88133 6361.00 7585.00 150.00 -90.00 0.00 24.00 30.00 30.00
C88134 6362.00 7565.00 150.00 -90.00 0.00 0.00 30.00 30.00
C88135 6369.00 7536.00 150.00 -90.00 0.00 12.00 21.00 30.00

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
C88136 6378.00 7526.00 150.00 -90.00 0.00 0.00 30.00 30.00
C88137 6387.00 7519.00 150.00 -90.00 0.00 0.00 30.00 30.00
C88139 6391.00 7538.00 150.00 -90.00 0.00 0.00 33.00 33.00
C88140 6388.00 7563.00 150.00 -90.00 0.00 0.00 21.00 21.00
C88141 6380.00 7587.00 150.00 -90.00 0.00 1.93 33.00 33.00
C88142 6362.00 7605.00 150.00 -90.00 0.00 1.00 21.00 30.00
C88143 6380.00 7502.00 150.00 -90.00 0.00 21.00 39.00 39.00
C88145 6476.00 7639.00 127.00 -90.00 0.00 2.95 21.00 24.00
C88145 6476.00 7639.00 127.00 -10.00 90.00 21.00 24.00 24.00
C88146 6482.00 7529.00 130.00 -6.00 40.00 0.00 12.00 12.00
C88147 6444.00 7389.00 142.00 -90.00 0.00 0.00 6.08 15.00
C88148 6425.00 7391.00 141.00 -90.00 0.00 0.00 21.00 21.00
C88149 6440.00 7364.00 142.00 -90.00 0.00 0.00 17.37 24.00
C88150 6437.00 7342.00 143.00 -90.00 0.00 0.00 3.00 3.00
C88151 6435.00 7322.00 145.00 -90.00 0.00 0.00 24.00 24.00
C88152 6414.00 7328.00 144.00 -90.00 0.00 0.00 18.00 18.00
C88153 6418.00 7350.00 144.00 -90.00 0.00 0.00 21.00 21.00
C88154 6422.00 7370.00 144.00 -90.00 0.00 0.00 27.00 27.00
C88155 6432.00 7410.00 144.00 -90.00 0.00 0.00 18.00 18.00
C88156 6376.00 7366.00 155.00 -90.00 0.00 0.00 24.00 24.00
C88157 6375.00 7338.00 155.00 -90.00 0.00 0.00 27.00 27.00
C88158 6362.00 7643.00 153.00 -90.00 0.00 0.00 27.00 27.00
CD101 6524.20 7226.80 331.10 -45.00 267.80 0.00 30.80 182.90
CD101 6524.20 7226.80 331.10 -45.00 267.80 30.80 67.40 182.90
CD101 6524.20 7226.80 331.10 -45.00 267.80 67.40 117.30 182.90
CD101 6524.20 7226.80 331.10 -45.00 267.80 150.10 155.78 182.90
CD102 6514.20 7413.30 270.90 -45.00 268.50 3.70 15.20 167.60
CD102 6514.20 7413.30 270.90 -45.00 268.50 22.60 41.80 167.60
CD102 6514.20 7413.30 270.90 -45.00 268.50 41.80 48.50 167.60
CD102 6514.20 7413.30 270.90 -45.00 268.50 48.50 70.10 167.60
CD102 6514.20 7413.30 270.90 -45.00 268.50 75.30 97.80 167.60
CD102 6514.20 7413.30 270.90 -45.00 268.50 107.00 144.80 167.60
CD103 6488.90 7043.90 345.70 -45.00 269.00 24.70 45.40 174.70
CD103 6488.90 7043.90 345.70 -45.00 269.00 45.40 115.80 174.70
CD103 6488.90 7043.90 345.70 -45.00 269.00 132.60 166.10 174.70
CD104 6552.30 6956.80 342.50 -45.00 275.00 31.10 36.30 347.60
CD104 6552.30 6956.80 342.50 -45.00 275.00 80.80 88.10 347.60
CD104 6552.30 6956.80 342.50 -45.00 275.00 163.70 204.80 347.60
CD104 6552.30 6956.80 342.50 -45.00 275.00 231.00 272.50 347.60
CD104 6552.30 6956.80 342.50 -45.00 275.00 272.50 291.49 347.60
CD104 6552.30 6956.80 342.50 -45.00 275.00 316.10 325.50 347.60

34a Alexander St, Burnie Tasmania 7320

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ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD105 6560.20 7672.70 212.80 -45.00 268.14 76.80 111.90 204.22
CD105 6560.20 7672.70 212.80 -45.00 268.14 116.40 139.90 204.22
CD105 6560.20 7672.70 212.80 -45.00 268.14 139.90 153.60 204.22
CD105 6560.20 7672.70 212.80 -45.00 268.14 158.80 174.00 204.22
CD105 6560.20 7672.70 212.80 -45.00 268.14 174.00 185.90 204.22
CD105 6560.20 7672.70 212.80 -45.00 268.14 192.00 204.22 204.22
CD106 6440.10 7583.70 217.40 -45.00 91.50 7.90 12.32 158.80
CD106 6440.10 7583.70 217.40 -45.00 91.50 34.10 39.80 158.80
CD106 6440.10 7583.70 217.40 -45.00 91.50 112.50 118.30 158.80
CD106 6440.10 7583.70 217.40 -45.00 91.50 135.00 155.40 158.80
CD108 6600.40 7413.30 266.90 -45.00 270.00 9.80 17.96 285.00
CD108 6600.40 7413.30 266.90 -45.00 270.00 28.30 34.10 285.00
CD108 6600.40 7413.30 266.90 -45.00 270.00 109.40 120.70 285.00
CD108 6600.40 7413.30 266.90 -45.00 270.00 135.60 161.80 285.00
CD108 6600.40 7413.30 266.90 -45.00 270.00 161.80 173.40 285.00
CD108 6600.40 7413.30 266.90 -45.00 270.00 173.40 183.50 285.00
CD108 6600.40 7413.30 266.90 -45.00 270.00 183.50 197.20 285.00
CD108 6600.40 7413.30 266.90 -45.00 270.00 200.15 211.50 285.00
CD108 6600.40 7413.30 266.90 -45.00 270.00 222.80 245.70 285.00
CD108 6600.40 7413.30 266.90 -45.00 270.00 245.70 270.10 285.00
CD109 6407.50 6876.30 323.00 -61.00 270.00 0.72 16.09 142.60
CD109 6407.50 6876.30 323.00 -61.00 270.00 46.30 62.20 142.60
CD109 6407.50 6876.30 323.00 -61.00 270.00 66.28 66.95 142.60
CD110 6406.29 6790.64 321.75 -55.00 270.00 0.00 3.62 303.60
CD110 6406.29 6790.64 321.75 -55.00 270.00 46.00 59.27 303.60
CD110 6406.29 6790.64 321.75 -55.00 270.00 59.27 132.30 303.60
CD110 6406.29 6790.64 321.75 -55.00 270.00 152.40 192.90 303.60
CD110 6406.29 6790.64 321.75 -55.00 270.00 199.00 208.80 303.60
CD110 6406.29 6790.64 321.75 -55.00 270.00 221.60 255.70 303.60
CD110 6406.29 6790.64 321.75 -55.00 270.00 271.30 298.70 303.60
CD111 6600.10 7587.10 226.00 -45.00 270.00 1.20 22.90 152.40
CD111 6600.10 7587.10 226.00 -45.00 270.00 103.60 107.90 152.40
CD112 6363.00 6690.40 306.70 -45.00 270.00 12.20 32.90 142.30
CD112 6363.00 6690.40 306.70 -45.00 270.00 52.10 142.30 142.30
CD113 6578.80 7043.90 332.20 -45.00 270.00 66.40 71.60 359.70
CD113 6578.80 7043.90 332.20 -45.00 270.00 180.10 194.50 359.70
CD113 6578.80 7043.90 332.20 -45.00 270.00 194.50 208.20 359.70
CD113 6578.80 7043.90 332.20 -45.00 270.00 252.10 255.70 359.70
CD113 6578.80 7043.90 332.20 -45.00 270.00 255.70 263.30 359.70
CD113 6578.80 7043.90 332.20 -45.00 270.00 300.80 306.30 359.70
CD113 6578.80 7043.90 332.20 -45.00 270.00 309.40 323.40 359.70

34a Alexander St, Burnie Tasmania 7320

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD113 6578.80 7043.90 332.20 -45.00 270.00 327.70 348.10 359.70
CD114 6286.50 6461.80 315.50 -45.00 270.00 47.90 72.41 227.40
CD114 6286.50 6461.80 315.50 -45.00 270.00 72.41 104.90 227.40
CD114 6286.50 6461.80 315.50 -45.00 270.00 139.00 187.37 227.40
CD114 6286.50 6461.80 315.50 -45.00 270.00 199.18 217.89 227.40
CD115 6298.10 6598.00 308.50 -55.00 270.00 48.50 128.60 128.60
CD116 6221.60 6371.20 304.90 -55.00 270.00 29.30 37.20 274.30
CD116 6221.60 6371.20 304.90 -55.00 270.00 37.20 88.10 274.30
CD116 6221.60 6371.20 304.90 -55.00 270.00 100.00 123.10 274.30
CD116 6221.60 6371.20 304.90 -55.00 270.00 196.60 228.90 274.30
CD117 6614.20 7142.70 308.60 -55.00 270.00 125.00 128.90 335.30
CD117 6614.20 7142.70 308.60 -55.00 270.00 152.70 167.90 335.30
CD117 6614.20 7142.70 308.60 -55.00 270.00 264.00 274.30 335.30
CD117 6614.20 7142.70 308.60 -55.00 270.00 308.50 317.30 335.30
CD117 6614.20 7142.70 308.60 -55.00 270.00 321.60 335.30 335.30
CD118 6607.10 7227.40 309.80 -45.00 270.00 115.80 151.80 243.80
CD118 6607.10 7227.40 309.80 -45.00 270.00 174.70 198.31 243.80
CD119 6141.40 6186.80 272.80 -55.00 270.00 47.20 51.50 243.80
CD119 6141.40 6186.80 272.80 -55.00 270.00 59.70 63.62 243.80
CD119 6141.40 6186.80 272.80 -55.00 270.00 71.30 88.10 243.80
CD119 6141.40 6186.80 272.80 -55.00 270.00 98.50 118.00 243.80
CD119 6141.40 6186.80 272.80 -55.00 270.00 118.00 133.20 243.80
CD119 6141.40 6186.80 272.80 -55.00 270.00 139.30 189.30 243.80
CD119 6141.40 6186.80 272.80 -55.00 270.00 201.50 206.70 243.80
CD119 6141.40 6186.80 272.80 -55.00 270.00 210.29 238.70 243.80
CD120 6187.40 6746.40 269.00 -45.00 90.00 6.70 15.50 221.10
CD120 6187.40 6746.40 269.00 -45.00 90.00 32.30 37.50 221.10
CD120 6187.40 6746.40 269.00 -45.00 90.00 46.60 47.24 221.10
CD120 6187.40 6746.40 269.00 -45.00 90.00 47.24 49.01 221.10
CD120 6187.40 6746.40 269.00 -45.00 90.00 49.01 58.80 221.10
CD120 6187.40 6746.40 269.00 -45.00 90.00 82.90 93.90 221.10
CD120 6187.40 6746.40 269.00 -45.00 90.00 108.50 144.80 221.10
CD120 6187.40 6746.40 269.00 -45.00 90.00 192.90 212.80 221.10
CD121 6398.40 7326.00 314.00 -55.00 90.00 4.60 18.30 323.40
CD121 6398.40 7326.00 314.00 -55.00 90.00 24.70 34.96 323.40
CD121 6398.40 7326.00 314.00 -55.00 90.00 39.60 101.80 323.40
CD121 6398.40 7326.00 314.00 -55.00 90.00 101.80 134.10 323.40
CD121 6398.40 7326.00 314.00 -55.00 90.00 134.10 167.14 323.40
CD121 6398.40 7326.00 314.00 -55.00 90.00 167.14 175.60 323.40
CD121 6398.40 7326.00 314.00 -55.00 90.00 249.90 269.67 323.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 0.00 10.30 314.40

34a Alexander St, Burnie Tasmania 7320

Page 70 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD200101 6355.72 7640.28 99.71 -54.30 88.32 10.30 25.60 314.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 85.10 93.60 314.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 105.20 128.91 314.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 128.91 147.00 314.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 147.00 155.30 314.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 155.30 167.70 314.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 174.73 199.60 314.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 207.00 237.70 314.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 278.70 281.10 314.40
CD200101 6355.72 7640.28 99.71 -54.30 88.32 289.90 299.50 314.40
CD200102 6346.03 7689.64 105.08 -49.30 89.96 0.00 16.20 304.50
CD200102 6346.03 7689.64 105.08 -49.30 89.96 64.79 102.50 304.50
CD200102 6346.03 7689.64 105.08 -49.30 89.96 102.50 127.42 304.50
CD200102 6346.03 7689.64 105.08 -49.30 89.96 127.42 146.80 304.50
CD200102 6346.03 7689.64 105.08 -49.30 89.96 150.30 167.70 304.50
CD200102 6346.03 7689.64 105.08 -49.30 89.96 167.70 171.40 304.50
CD200102 6346.03 7689.64 105.08 -49.30 89.96 191.50 205.52 304.50
CD200102 6346.03 7689.64 105.08 -49.30 89.96 205.52 226.01 304.50
CD200102 6346.03 7689.64 105.08 -49.30 89.96 231.00 258.00 304.50
CD200102 6346.03 7689.64 105.08 -49.30 89.96 263.20 274.00 304.50
CD200103 6335.99 7739.99 110.07 -50.00 93.22 2.60 19.63 326.80
CD200103 6335.99 7739.99 110.07 -50.00 93.22 70.30 92.60 326.80
CD200103 6335.99 7739.99 110.07 -50.00 93.22 92.60 114.40 326.80
CD200103 6335.99 7739.99 110.07 -50.00 93.22 120.60 139.70 326.80
CD200103 6335.99 7739.99 110.07 -50.00 93.22 146.00 158.50 326.80
CD200103 6335.99 7739.99 110.07 -50.00 93.22 181.00 215.50 326.80
CD200103 6335.99 7739.99 110.07 -50.00 93.22 216.86 217.06 326.80
CD200103 6335.99 7739.99 110.07 -50.00 93.22 223.70 246.40 326.80
CD200103 6335.99 7739.99 110.07 -50.00 93.22 250.40 262.20 326.80
CD200103 6335.99 7739.99 110.07 -50.00 93.22 270.80 317.40 326.80
CD200104 6353.07 7840.12 111.30 -48.73 88.01 47.43 54.60 281.40
CD200104 6353.07 7840.12 111.30 -48.73 88.01 54.60 72.70 281.40
CD200104 6353.07 7840.12 111.30 -48.73 88.01 80.60 110.80 281.40
CD200104 6353.07 7840.12 111.30 -48.73 88.01 132.30 139.08 281.40
CD200104 6353.07 7840.12 111.30 -48.73 88.01 139.08 150.60 281.40
CD200104 6353.07 7840.12 111.30 -48.73 88.01 252.20 255.10 281.40
CD200105 6346.25 7890.37 111.97 -48.34 88.59 0.00 12.40 292.70
CD200105 6346.25 7890.37 111.97 -48.34 88.59 59.30 76.40 292.70
CD200105 6346.25 7890.37 111.97 -48.34 88.59 80.50 82.50 292.70
CD200105 6346.25 7890.37 111.97 -48.34 88.59 87.59 101.60 292.70
CD200105 6346.25 7890.37 111.97 -48.34 88.59 113.20 157.00 292.70

34a Alexander St, Burnie Tasmania 7320

Page 71 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD200105 6346.25 7890.37 111.97 -48.34 88.59 157.00 166.42 292.70
CD200105 6346.25 7890.37 111.97 -48.34 88.59 166.42 176.00 292.70
CD200105 6346.25 7890.37 111.97 -48.34 88.59 193.63 225.20 292.70
CD200105 6346.25 7890.37 111.97 -48.34 88.59 225.20 240.20 292.70
CD200105 6346.25 7890.37 111.97 -48.34 88.59 242.50 254.10 292.70
CD200105 6346.25 7890.37 111.97 -48.34 88.59 267.90 271.90 292.70
CD200106 6353.97 7815.16 110.51 -48.15 96.00 51.31 52.40 270.10
CD200106 6353.97 7815.16 110.51 -48.15 96.00 53.70 85.18 270.10
CD200106 6353.97 7815.16 110.51 -48.15 96.00 93.40 99.40 270.10
CD200106 6353.97 7815.16 110.51 -48.15 96.00 134.12 136.65 270.10
CD200106 6353.97 7815.16 110.51 -48.15 96.00 187.60 212.30 270.10
CD200106 6353.97 7815.16 110.51 -48.15 96.00 234.10 255.00 270.10
CD200107 6355.62 7940.19 112.19 -47.84 89.15 0.00 3.87 275.70
CD200107 6355.62 7940.19 112.19 -47.84 89.15 58.90 61.60 275.70
CD200107 6355.62 7940.19 112.19 -47.84 89.15 116.80 124.90 275.70
CD200107 6355.62 7940.19 112.19 -47.84 89.15 130.20 147.00 275.70
CD200107 6355.62 7940.19 112.19 -47.84 89.15 156.60 179.90 275.70
CD200107 6355.62 7940.19 112.19 -47.84 89.15 179.90 208.60 275.70
CD200107 6355.62 7940.19 112.19 -47.84 89.15 232.69 233.59 275.70
CD200107 6355.62 7940.19 112.19 -47.84 89.15 235.60 245.00 275.70
CD200108 6361.00 7990.00 112.00 -50.00 90.00 0.00 11.96 250.00
CD200108 6361.00 7990.00 112.00 -50.00 90.00 63.27 84.27 250.00
CD200108 6361.00 7990.00 112.00 -50.00 90.00 113.04 123.47 250.00
CD200108 6361.00 7990.00 112.00 -50.00 90.00 147.57 166.51 250.00
CD200108 6361.00 7990.00 112.00 -50.00 90.00 166.51 175.14 250.00
CD200108 6361.00 7990.00 112.00 -50.00 90.00 197.91 198.40 250.00
CD200108 6361.00 7990.00 112.00 -50.00 90.00 198.40 199.14 250.00
CD200108 6361.00 7990.00 112.00 -50.00 90.00 199.96 230.66 250.00
CD200108 6361.00 7990.00 112.00 -50.00 90.00 241.35 244.77 250.00
CD200109 6353.65 7990.07 112.94 -48.15 89.40 2.43 2.45 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 13.00 19.75 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 72.30 93.70 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 120.80 130.30 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 153.50 171.81 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 171.82 179.90 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 202.40 232.60 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 243.30 246.20 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 263.20 290.20 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 305.70 321.10 363.20
CD200109 6353.65 7990.07 112.94 -48.15 89.40 321.10 345.80 363.20
CD200201 5921.36 6000.00 224.24 -45.07 92.44 39.30 50.40 280.20

34a Alexander St, Burnie Tasmania 7320

Page 72 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD200301 6197.14 6140.11 249.27 -42.00 270.24 60.40 66.60 252.00
CD200301 6197.14 6140.11 249.27 -42.00 270.24 133.30 150.40 252.00
CD200301 6197.14 6140.11 249.27 -42.00 270.24 158.20 161.00 252.00
CD200301 6197.14 6140.11 249.27 -42.00 270.24 162.00 173.20 252.00
CD200301 6197.14 6140.11 249.27 -42.00 270.24 178.70 199.75 252.00
CD200301 6197.14 6140.11 249.27 -42.00 270.24 218.10 243.80 252.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 112.40 115.50 293.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 120.72 141.89 293.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 141.89 142.40 293.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 142.40 142.60 293.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 150.70 185.25 293.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 196.70 202.70 293.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 202.70 213.20 293.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 231.70 247.70 293.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 247.70 259.60 293.00
CD200302 5898.99 6189.62 206.47 -43.65 91.44 277.10 280.90 293.00
CD200303 5899.32 6235.08 201.27 -44.00 90.00 120.40 139.90 297.40
CD200303 5899.32 6235.08 201.27 -44.00 90.00 156.81 165.00 297.40
CD200303 5899.32 6235.08 201.27 -44.00 90.00 191.40 202.70 297.40
CD200303 5899.32 6235.08 201.27 -44.00 90.00 202.70 214.20 297.40
CD200303 5899.32 6235.08 201.27 -44.00 90.00 221.50 250.10 297.40
CD200303 5899.32 6235.08 201.27 -44.00 90.00 250.10 266.80 297.40
CD200303 5899.32 6235.08 201.27 -44.00 90.00 284.90 290.90 297.40
CD200304 6015.90 6274.01 158.08 -55.36 91.42 1.17 16.50 190.00
CD200304 6015.90 6274.01 158.08 -55.36 91.42 32.27 32.50 190.00
CD200304 6015.90 6274.01 158.08 -55.36 91.42 42.26 45.70 190.00
CD200304 6015.90 6274.01 158.08 -55.36 91.42 76.75 88.74 190.00
CD200304 6015.90 6274.01 158.08 -55.36 91.42 88.74 94.22 190.00
CD200304 6015.90 6274.01 158.08 -55.36 91.42 108.40 131.30 190.00
CD200304 6015.90 6274.01 158.08 -55.36 91.42 131.30 144.40 190.00
CD200304 6015.90 6274.01 158.08 -55.36 91.42 144.40 158.20 190.00
CD200304 6015.90 6274.01 158.08 -55.36 91.42 172.70 182.77 190.00
CD200305 6029.61 6322.97 156.73 -50.12 89.17 2.25 3.30 196.10
CD200305 6029.61 6322.97 156.73 -50.12 89.17 56.40 72.90 196.10
CD200305 6029.61 6322.97 156.73 -50.12 89.17 80.80 102.80 196.10
CD200305 6029.61 6322.97 156.73 -50.12 89.17 107.61 143.80 196.10
CD200305 6029.61 6322.97 156.73 -50.12 89.17 149.90 164.60 196.10
CD200305 6029.61 6322.97 156.73 -50.12 89.17 172.00 177.50 196.10
CD200306 6048.33 6371.62 156.72 -51.00 90.00 15.40 23.30 199.70
CD200306 6048.33 6371.62 156.72 -51.00 90.00 51.03 74.20 199.70
CD200306 6048.33 6371.62 156.72 -51.00 90.00 104.00 112.50 199.70

34a Alexander St, Burnie Tasmania 7320

Page 73 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD200306 6048.33 6371.62 156.72 -51.00 90.00 120.32 140.40 199.70
CD200306 6048.33 6371.62 156.72 -51.00 90.00 153.90 164.70 199.70
CD200306 6048.33 6371.62 156.72 -51.00 90.00 167.30 174.80 199.70
CD200306 6048.33 6371.62 156.72 -51.00 90.00 181.50 191.70 199.70
CD200307 6006.70 6419.85 180.62 -51.00 90.00 140.00 160.50 280.00
CD200307 6006.70 6419.85 180.62 -51.00 90.00 190.84 202.21 280.00
CD200307 6006.70 6419.85 180.62 -51.00 90.00 222.18 260.34 280.00
CD200308 6012.16 6461.93 177.28 -52.68 92.46 155.90 166.30 286.90
CD200308 6012.16 6461.93 177.28 -52.68 92.46 174.50 199.70 286.90
CD200308 6012.16 6461.93 177.28 -52.68 92.46 214.50 219.00 286.90
CD200308 6012.16 6461.93 177.28 -52.68 92.46 219.00 234.60 286.90
CD200308 6012.16 6461.93 177.28 -52.68 92.46 234.60 246.30 286.90
CD200308 6012.16 6461.93 177.28 -52.68 92.46 259.40 275.40 286.90
CD200309 6096.77 6090.80 237.71 -38.67 269.25 55.80 57.01 202.10
CD200309 6096.77 6090.80 237.71 -38.67 269.25 67.50 72.40 202.10
CD200309 6096.77 6090.80 237.71 -38.67 269.25 128.60 133.70 202.10
CD200309 6096.77 6090.80 237.71 -38.67 269.25 181.00 195.80 202.10
CD200310 6312.77 6321.35 265.01 -45.00 270.00 56.87 75.40 91.00
CD200310 6312.77 6321.35 265.01 -45.00 270.00 89.13 91.00 91.00
CD200401 6131.02 6641.27 155.52 -50.50 90.00 59.80 61.90 216.00
CD200401 6131.02 6641.27 155.52 -50.50 90.00 95.80 100.30 216.00
CD200401 6131.02 6641.27 155.52 -50.50 90.00 100.30 120.00 216.00
CD200401 6131.02 6641.27 155.52 -50.50 90.00 122.40 152.50 216.00
CD200401 6131.02 6641.27 155.52 -50.50 90.00 168.70 177.70 216.00
CD200402 6078.88 6553.31 165.83 -50.00 90.00 96.00 102.70 280.50
CD200402 6078.88 6553.31 165.83 -50.00 90.00 116.60 136.70 280.50
CD200402 6078.88 6553.31 165.83 -50.00 90.00 141.70 166.50 280.50
CD200402 6078.88 6553.31 165.83 -50.00 90.00 166.50 186.80 280.50
CD200402 6078.88 6553.31 165.83 -50.00 90.00 212.20 220.10 280.50
CD200403 6156.56 6705.33 149.06 -50.00 102.00 53.53 64.59 249.90
CD200403 6156.56 6705.33 149.06 -50.00 102.00 89.40 118.80 249.90
CD200403 6156.56 6705.33 149.06 -50.00 102.00 118.80 120.80 249.90
CD200403 6156.56 6705.33 149.06 -50.00 102.00 157.20 178.50 249.90
CD200403 6156.56 6705.33 149.06 -50.00 102.00 210.50 218.20 249.90
CD200403 6156.56 6705.33 149.06 -50.00 102.00 235.70 239.70 249.90
CD201 6407.20 6876.30 322.90 -55.00 270.00 0.44 13.13 46.90
CD201 6407.20 6876.30 322.90 -55.00 270.00 30.20 46.90 46.90
CD202 6319.40 6868.10 299.90 -55.00 270.00 0.00 20.86 47.20
CD202 6319.40 6868.10 299.90 -55.00 270.00 32.60 47.20 47.20
CD203 6255.70 6868.10 287.10 -55.00 90.00 1.38 39.19 61.00
CD203 6255.70 6868.10 287.10 -55.00 90.00 39.19 57.35 61.00

34a Alexander St, Burnie Tasmania 7320

Page 74 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD20303 6425.00 7674.00 137.00 -90.00 0.00 14.79 17.50 21.00
CD20303 6425.00 7674.00 137.00 -90.00 0.00 20.79 21.00 21.00
CD204 6255.10 6868.10 287.10 -55.00 270.00 13.40 63.40 63.40
CD205 6394.40 6952.50 321.70 -45.00 90.00 17.99 31.40 48.20
CD205 6394.40 6952.50 321.70 -45.00 90.00 31.40 42.10 48.20
CD206 6363.90 6952.50 309.60 -45.00 90.00 0.00 7.11 57.30
CD206 6363.90 6952.50 309.60 -45.00 90.00 19.25 37.80 57.30
CD206 6363.90 6952.50 309.60 -45.00 90.00 52.10 52.80 57.30
CD206 6363.90 6952.50 309.60 -45.00 90.00 52.80 53.57 57.30
CD206 6363.90 6952.50 309.60 -45.00 90.00 53.57 57.30 57.30
CD207 6340.00 6954.00 301.10 -45.00 90.00 0.00 15.82 59.40
CD207 6340.00 6954.00 301.10 -45.00 90.00 20.04 39.79 59.40
CD207 6340.00 6954.00 301.10 -45.00 90.00 44.10 56.15 59.40
CD208 6544.10 7043.90 343.30 -45.00 270.00 16.20 19.50 85.60
CD209 6438.90 7045.10 336.00 -45.00 270.00 0.00 39.60 45.70
CD209 6438.90 7045.10 336.00 -45.00 270.00 44.20 45.70 45.70
CD210 6400.50 7044.20 329.80 -45.00 270.00 0.00 11.90 47.50
CD210 6400.50 7044.20 329.80 -45.00 270.00 29.30 39.00 47.50
CD211 6496.20 7134.80 346.20 -45.00 270.00 0.61 11.60 57.90
CD211 6496.20 7134.80 346.20 -45.00 270.00 16.20 21.60 57.90
CD211 6496.20 7134.80 346.20 -45.00 270.00 34.40 48.50 57.90
CD212 6456.60 7135.40 336.20 -45.00 270.00 0.00 33.80 33.80
CD213 6434.90 7135.30 330.90 -45.00 270.00 0.00 20.22 46.90
CD213 6434.90 7135.30 330.90 -45.00 270.00 20.22 36.90 46.90
CD213 6434.90 7135.30 330.90 -45.00 270.00 36.90 46.90 46.90
CD215 6324.00 6788.00 301.30 -45.00 90.00 39.30 46.00 46.00
CD216 6489.50 7618.80 240.50 -60.00 270.00 12.80 25.00 76.20
CD216 6489.50 7618.80 240.50 -60.00 270.00 25.00 67.40 76.20
CD217 6294.70 6787.30 296.80 -45.00 90.00 39.30 51.50 52.10
CD218 6266.40 6787.90 288.80 -45.00 90.00 14.30 20.40 60.40
CD218 6266.40 6787.90 288.80 -45.00 90.00 32.60 60.40 60.40
CD219 6452.00 7323.00 323.60 -45.00 270.00 10.10 41.10 64.90
CD219 6452.00 7323.00 323.60 -45.00 270.00 49.40 57.00 64.90
CD219 6452.00 7323.00 323.60 -45.00 270.00 59.70 64.90 64.90
CD220 6232.60 6786.10 281.20 -45.00 90.00 31.70 39.90 51.80
CD220 6232.60 6786.10 281.20 -45.00 90.00 43.60 51.80 51.80
CD221 6496.00 7321.00 318.60 -45.00 270.00 19.20 50.90 62.50
CD221 6496.00 7321.00 318.60 -45.00 270.00 58.80 62.50 62.50
CD222 6181.00 6789.00 264.20 -45.00 90.00 17.10 28.00 54.90
CD222 6181.00 6789.00 264.20 -45.00 90.00 51.32 54.90 54.90
CD223 6552.00 7228.60 324.90 -45.00 270.00 1.80 42.70 42.70

34a Alexander St, Burnie Tasmania 7320

Page 75 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD224 6472.00 7227.00 336.40 -45.00 270.00 1.15 12.50 57.60
CD224 6472.00 7227.00 336.40 -45.00 270.00 23.80 55.50 57.60
CD226 6415.70 7410.00 305.50 -55.00 270.00 13.70 33.50 82.30
CD226 6415.70 7410.00 305.50 -55.00 270.00 45.70 59.10 82.30
CD227 6279.50 6690.00 287.50 -55.00 270.00 0.00 25.30 106.70
CD227 6279.50 6690.00 287.50 -55.00 270.00 25.30 49.92 106.70
CD227 6279.50 6690.00 287.50 -55.00 270.00 55.84 106.70 106.70
CD228 6448.30 7419.00 311.20 -55.00 270.00 0.00 10.10 70.10
CD228 6448.30 7419.00 311.20 -55.00 270.00 18.60 38.10 70.10
CD228 6448.30 7419.00 311.20 -55.00 270.00 43.30 62.80 70.10
CD229 6444.40 7272.50 329.80 -45.00 270.00 0.00 36.92 97.50
CD229 6444.40 7272.50 329.80 -45.00 270.00 37.40 42.37 97.50
CD229 6444.40 7272.50 329.80 -45.00 270.00 53.90 61.00 97.50
CD229 6444.40 7272.50 329.80 -45.00 270.00 79.50 91.38 97.50
CD229 6444.40 7272.50 329.80 -45.00 270.00 97.48 97.50 97.50
CD230 6435.20 7226.80 331.90 -45.00 270.00 49.70 54.60 82.90
CD231 6504.70 7273.10 324.90 -45.00 270.00 16.80 34.70 92.70
CD231 6504.70 7273.10 324.90 -45.00 270.00 34.70 72.46 92.70
CD231 6504.70 7273.10 324.90 -45.00 270.00 72.46 87.50 92.70
CD232 6241.40 6605.30 291.90 -55.00 270.00 0.00 6.43 70.40
CD233 6537.00 7272.80 316.90 -45.00 270.00 23.80 80.20 80.20
CD234 6432.50 7364.00 315.30 -45.00 270.00 4.00 29.30 61.90
CD234 6432.50 7364.00 315.30 -45.00 270.00 32.60 44.20 61.90
CD234 6432.50 7364.00 315.30 -45.00 270.00 59.40 61.90 61.90
CD235 6285.60 6915.60 287.00 -45.00 90.00 0.00 15.10 91.70
CD235 6285.60 6915.60 287.00 -45.00 90.00 17.31 33.70 91.70
CD235 6285.60 6915.60 287.00 -45.00 90.00 45.26 77.89 91.70
CD235 6285.60 6915.60 287.00 -45.00 90.00 77.89 78.00 91.70
CD235 6285.60 6915.60 287.00 -45.00 90.00 78.00 89.60 91.70
CD236 6358.10 6830.30 303.00 -45.00 90.00 0.00 13.40 91.60
CD236 6358.10 6830.30 303.00 -45.00 90.00 39.00 51.20 91.60
CD237 6479.70 7089.00 342.90 -45.00 90.00 10.10 26.20 91.40
CD237 6479.70 7089.00 342.90 -45.00 90.00 36.43 36.94 91.40
CD237 6479.70 7089.00 342.90 -45.00 90.00 57.60 71.30 91.40
CD238 6348.10 6915.60 309.80 -45.00 90.00 0.00 4.45 99.40
CD238 6348.10 6915.60 309.80 -45.00 90.00 7.18 51.24 99.40
CD238 6348.10 6915.60 309.80 -45.00 90.00 62.59 64.99 99.40
CD238 6348.10 6915.60 309.80 -45.00 90.00 74.71 86.40 99.40
CD239 6281.30 6553.50 310.19 -55.00 270.00 17.40 39.30 79.25
CD239 6281.30 6553.50 310.19 -55.00 270.00 65.83 79.25 79.25
CD240 6192.30 6544.97 277.03 -55.00 270.00 16.90 59.70 59.70

34a Alexander St, Burnie Tasmania 7320

Page 76 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD241 6296.00 6640.00 296.80 -45.00 90.00 11.60 22.85 56.10
CD241 6296.00 6640.00 296.80 -45.00 90.00 39.60 44.87 56.10
CD242 6178.30 6420.60 290.60 -45.00 90.00 0.00 1.20 91.40
CD242 6178.30 6420.60 290.60 -45.00 90.00 29.60 40.77 91.40
CD242 6178.30 6420.60 290.60 -45.00 90.00 40.90 71.90 91.40
CD243 6242.30 6553.20 298.40 -55.00 270.00 0.00 15.20 103.60
CD243 6242.30 6553.20 298.40 -55.00 270.00 36.66 94.20 103.60
CD244 6203.00 6509.00 281.50 -45.00 90.00 0.00 4.09 82.60
CD244 6203.00 6509.00 281.50 -45.00 90.00 10.70 18.93 82.60
CD245 6419.70 7090.00 327.80 -45.00 90.00 3.05 14.90 91.70
CD245 6419.70 7090.00 327.80 -45.00 90.00 14.90 27.40 91.70
CD245 6419.70 7090.00 327.80 -45.00 90.00 42.70 70.70 91.70
CD246 6495.30 7354.50 301.40 -45.00 270.00 2.28 15.20 91.70
CD246 6495.30 7354.50 301.40 -45.00 270.00 15.20 49.40 91.70
CD246 6495.30 7354.50 301.40 -45.00 270.00 53.90 76.20 91.70
CD246 6495.30 7354.50 301.40 -45.00 270.00 76.20 91.70 91.70
CD247 6497.10 7357.00 301.20 -55.00 90.00 0.00 22.90 91.40
CD247 6497.10 7357.00 301.20 -55.00 90.00 37.80 50.90 91.40
CD247 6497.10 7357.00 301.20 -55.00 90.00 58.80 86.30 91.40
CD247 6497.10 7357.00 301.20 -55.00 90.00 86.52 86.70 91.40
CD248 6379.80 7001.00 320.30 -45.00 90.00 0.00 10.70 91.40
CD248 6379.80 7001.00 320.30 -45.00 90.00 21.30 34.40 91.40
CD248 6379.80 7001.00 320.30 -45.00 90.00 46.60 55.20 91.40
CD248 6379.80 7001.00 320.30 -45.00 90.00 55.20 91.40 91.40
CD249 6315.50 7002.00 290.30 -45.00 90.00 0.00 12.20 91.40
CD249 6315.50 7002.00 290.30 -45.00 90.00 12.20 24.40 91.40
CD249 6315.50 7002.00 290.30 -45.00 90.00 24.40 57.90 91.40
CD249 6315.50 7002.00 290.30 -45.00 90.00 63.40 71.60 91.40
CD249 6315.50 7002.00 290.30 -45.00 90.00 76.80 82.90 91.40
CD250 6354.80 7090.00 311.10 -45.00 90.00 23.32 60.00 80.50
CD250 6354.80 7090.00 311.10 -45.00 90.00 67.40 74.40 80.50
CD251 6299.00 7090.90 296.10 -45.00 90.00 7.30 54.30 91.40
CD252 6452.30 7184.10 336.60 -45.00 270.00 29.60 63.40 97.50
CD254 6552.00 7180.00 328.80 -43.00 270.00 6.40 46.60 79.20
CD254 6552.00 7180.00 328.80 -43.00 270.00 46.60 62.80 79.20
CD302 6006.10 6324.30 231.60 -45.00 90.00 9.80 22.10 243.80
CD302 6006.10 6324.30 231.60 -45.00 90.00 35.10 44.20 243.80
CD302 6006.10 6324.30 231.60 -45.00 90.00 49.20 54.90 243.80
CD302 6006.10 6324.30 231.60 -45.00 90.00 62.30 81.70 243.80
CD302 6006.10 6324.30 231.60 -45.00 90.00 104.50 112.90 243.80
CD302 6006.10 6324.30 231.60 -45.00 90.00 124.80 136.60 243.80

34a Alexander St, Burnie Tasmania 7320

Page 77 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD302 6006.10 6324.30 231.60 -45.00 90.00 136.60 146.40 243.80
CD302 6006.10 6324.30 231.60 -45.00 90.00 155.00 169.60 243.80
CD302 6006.10 6324.30 231.60 -45.00 90.00 183.50 188.60 243.80
CD302 6006.10 6324.30 231.60 -45.00 90.00 199.30 208.50 243.80
CD302 6006.10 6324.30 231.60 -45.00 90.00 222.50 226.90 243.80
CD303 6113.00 6416.00 269.60 -45.00 90.00 30.60 46.00 201.20
CD303 6113.00 6416.00 269.60 -45.00 90.00 92.00 99.50 201.20
CD303 6113.00 6416.00 269.60 -45.00 90.00 99.50 105.25 201.20
CD303 6113.00 6416.00 269.60 -45.00 90.00 105.25 130.90 201.20
CD303 6113.00 6416.00 269.60 -45.00 90.00 145.10 154.20 201.20
CD305 6128.00 6599.00 247.80 -47.00 90.00 8.20 41.50 204.20
CD305 6128.00 6599.00 247.80 -47.00 90.00 85.80 91.10 204.20
CD305 6128.00 6599.00 247.80 -47.00 90.00 97.50 125.30 204.20
CD305 6128.00 6599.00 247.80 -47.00 90.00 145.50 148.00 204.20
CD305 6128.00 6599.00 247.80 -47.00 90.00 148.00 172.70 204.20
CD305 6128.00 6599.00 247.80 -47.00 90.00 172.70 201.90 204.20
CD305 6128.00 6599.00 247.80 -47.00 90.00 234.24 238.29 204.20
CD307 6136.80 6681.80 238.10 -45.00 90.00 11.30 22.10 243.80
CD307 6136.80 6681.80 238.10 -45.00 90.00 33.50 61.70 243.80
CD307 6136.80 6681.80 238.10 -45.00 90.00 80.90 96.50 243.80
CD307 6136.80 6681.80 238.10 -45.00 90.00 106.40 134.00 243.80
CD307 6136.80 6681.80 238.10 -45.00 90.00 137.00 145.70 243.80
CD307 6136.80 6681.80 238.10 -45.00 90.00 145.70 163.05 243.80
CD307 6136.80 6681.80 238.10 -45.00 90.00 163.05 173.40 243.80
CD307 6136.80 6681.80 238.10 -45.00 90.00 214.60 234.20 243.80
CD308 6220.00 6830.00 274.70 -48.00 90.00 13.09 15.83 286.82
CD308 6220.00 6830.00 274.70 -48.00 90.00 25.30 47.50 286.82
CD308 6220.00 6830.00 274.70 -48.00 90.00 47.50 78.00 286.82
CD308 6220.00 6830.00 274.70 -48.00 90.00 84.90 111.60 286.82
CD308 6220.00 6830.00 274.70 -48.00 90.00 113.06 123.30 286.82
CD308 6220.00 6830.00 274.70 -48.00 90.00 162.50 195.20 286.82
CD308 6220.00 6830.00 274.70 -48.00 90.00 206.60 222.20 286.82
CD308 6220.00 6830.00 274.70 -48.00 90.00 250.10 254.70 286.82
CD309 6224.00 6900.00 273.30 -45.00 90.00 6.10 37.80 240.20
CD309 6224.00 6900.00 273.30 -45.00 90.00 44.20 81.07 240.20
CD309 6224.00 6900.00 273.30 -45.00 90.00 83.91 87.78 240.20
CD309 6224.00 6900.00 273.30 -45.00 90.00 92.20 122.70 240.20
CD309 6224.00 6900.00 273.30 -45.00 90.00 171.75 174.07 240.20
CD309 6224.00 6900.00 273.30 -45.00 90.00 174.35 191.29 240.20
CD309 6224.00 6900.00 273.30 -45.00 90.00 203.56 208.66 240.20
CD309 6224.00 6900.00 273.30 -45.00 90.00 212.90 240.20 240.20

34a Alexander St, Burnie Tasmania 7320

Page 78 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD401 6526.00 7002.00 301.30 -60.00 90.00 6.82 7.33 119.35
CD401 6526.00 7002.00 301.30 -60.00 90.00 106.20 119.35 119.35
CD403 6438.00 6990.00 265.00 -45.00 90.00 0.00 12.95 171.67
CD403 6438.00 6990.00 265.00 -45.00 90.00 83.05 88.40 171.67
CD403 6438.00 6990.00 265.00 -45.00 90.00 109.54 118.02 171.67
CD405 6302.00 7318.00 241.00 -55.00 90.00 110.80 125.50 179.95
CD405 6302.00 7318.00 241.00 -55.00 90.00 153.69 172.06 179.95
CD405 6302.00 7318.00 241.00 -55.00 90.00 172.23 179.95 179.95
CD406 6268.00 6811.00 228.60 -45.00 270.00 5.80 52.61 100.78
CD406 6268.00 6811.00 228.60 -45.00 270.00 54.62 77.00 100.78
CD407 6457.00 7182.00 221.00 -60.00 90.00 11.70 66.57 168.45
CD409 6482.00 7631.00 202.00 -50.00 270.00 0.00 5.45 152.91
CD409 6482.00 7631.00 202.00 -50.00 270.00 5.45 61.30 152.91
CD409 6482.00 7631.00 202.00 -50.00 270.00 92.93 98.22 152.91
CD410 6485.00 7440.00 206.00 -60.00 90.00 7.50 10.28 163.08
CD410 6485.00 7440.00 206.00 -60.00 90.00 10.28 22.00 163.08
CD410 6485.00 7440.00 206.00 -60.00 90.00 39.52 47.10 163.08
CD410 6485.00 7440.00 206.00 -60.00 90.00 66.80 78.40 163.08
CD411 6297.00 6690.00 231.00 -60.00 90.00 0.00 9.03 149.96
CD411 6297.00 6690.00 231.00 -60.00 90.00 9.68 25.50 149.96
CD411 6297.00 6690.00 231.00 -60.00 90.00 40.70 49.50 149.96
CD411 6297.00 6690.00 231.00 -60.00 90.00 123.50 135.40 149.96
CD412 6253.00 6416.00 267.00 -50.00 90.00 45.90 49.70 115.70
CD412 6253.00 6416.00 267.00 -50.00 90.00 94.80 100.18 115.70
CD413 6135.00 6788.00 233.00 -55.00 90.00 141.26 151.94 169.86
CD414 6539.00 7172.50 272.70 -60.00 90.00 10.75 20.20 128.03
CD414 6539.00 7172.50 272.70 -60.00 90.00 27.28 61.47 128.03
CD501 6134.50 6461.40 239.20 -50.00 270.00 0.00 34.80 115.50
CD502 6040.60 6186.90 238.60 -55.00 270.00 20.37 43.60 140.00
CD502 6040.60 6186.90 238.60 -55.00 270.00 43.71 52.10 140.00
CD502 6040.60 6186.90 238.60 -55.00 270.00 60.90 90.40 140.00
CD504 6487.00 7416.20 194.30 -45.00 270.00 0.00 4.00 134.00
CD504 6487.00 7416.20 194.30 -45.00 270.00 6.50 23.40 134.00
CD504 6487.00 7416.20 194.30 -45.00 270.00 23.40 57.01 134.00
CD504 6487.00 7416.20 194.30 -45.00 270.00 68.18 86.50 134.00
CD504 6487.00 7416.20 194.30 -45.00 270.00 103.30 107.00 134.00
CD506 6014.10 6186.80 238.10 -50.00 90.00 0.00 23.50 136.40
CD506 6014.10 6186.80 238.10 -50.00 90.00 27.60 33.45 136.40
CD506 6014.10 6186.80 238.10 -50.00 90.00 41.42 61.50 136.40
CD506 6014.10 6186.80 238.10 -50.00 90.00 68.00 87.90 136.40
CD506 6014.10 6186.80 238.10 -50.00 90.00 94.30 97.65 136.40

34a Alexander St, Burnie Tasmania 7320

Page 79 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD506 6014.10 6186.80 238.10 -50.00 90.00 97.65 109.80 136.40
CD506 6014.10 6186.80 238.10 -50.00 90.00 114.15 125.30 136.40
CD507 6446.20 7675.10 178.80 -45.00 90.00 0.00 3.10 101.60
CD507 6446.20 7675.10 178.80 -45.00 90.00 3.10 16.80 101.60
CD507 6446.20 7675.10 178.80 -45.00 90.00 16.80 91.90 101.60
CD508 6453.30 7497.90 184.50 -50.00 90.00 16.90 52.00 116.10
CD508 6453.30 7497.90 184.50 -50.00 90.00 52.00 65.00 116.10
CD508 6453.30 7497.90 184.50 -50.00 90.00 65.00 65.21 116.10
CD508 6453.30 7497.90 184.50 -50.00 90.00 65.21 73.80 116.10
CD508 6453.30 7497.90 184.50 -50.00 90.00 74.24 81.20 116.10
CD508 6453.30 7497.90 184.50 -50.00 90.00 81.20 106.20 116.10
CD509 6200.00 6502.90 223.30 -55.00 90.00 0.00 12.28 29.00
CD509 6200.00 6502.90 223.30 -55.00 90.00 13.14 19.30 29.00
CD510 6435.70 7227.50 199.10 -50.00 270.00 0.00 16.30 81.90
CD510 6435.70 7227.50 199.10 -50.00 270.00 25.84 30.01 81.90
CD511 6321.70 6954.00 204.50 -60.00 270.00 3.00 24.90 66.70
CD512 6438.50 7225.50 198.30 -45.00 90.00 0.00 5.50 143.00
CD512 6438.50 7225.50 198.30 -45.00 90.00 5.50 13.80 143.00
CD512 6438.50 7225.50 198.30 -45.00 90.00 16.80 51.62 143.00
CD512 6438.50 7225.50 198.30 -45.00 90.00 82.80 92.80 143.00
CD513 6233.30 6690.50 209.70 -50.00 270.00 0.00 28.21 80.50
CD513 6233.30 6690.50 209.70 -50.00 270.00 39.45 53.50 80.50
CD514 6344.50 7000.00 203.70 -45.00 90.00 0.00 7.90 146.00
CD514 6344.50 7000.00 203.70 -45.00 90.00 15.00 41.00 146.00
CD514 6344.50 7000.00 203.70 -45.00 90.00 45.86 50.53 146.00
CD514 6344.50 7000.00 203.70 -45.00 90.00 54.10 82.00 146.00
CD514 6344.50 7000.00 203.70 -45.00 90.00 103.60 112.90 146.00
CD514 6344.50 7000.00 203.70 -45.00 90.00 122.30 135.66 146.00
CD515 6078.40 6277.70 238.90 -55.00 270.00 17.04 67.03 104.30
CD515 6078.40 6277.70 238.90 -55.00 270.00 88.10 96.41 104.30
CD516 6119.40 6415.40 240.40 -60.00 90.00 10.70 16.70 151.20
CD516 6119.40 6415.40 240.40 -60.00 90.00 56.50 75.20 151.20
CD516 6119.40 6415.40 240.40 -60.00 90.00 86.90 100.70 151.20
CD516 6119.40 6415.40 240.40 -60.00 90.00 116.60 140.60 151.20
CD517 5898.00 6000.00 222.50 -40.00 90.00 63.60 72.20 152.40
CD517 5898.00 6000.00 222.50 -40.00 90.00 81.76 85.40 152.40
CD520 5968.00 6096.20 213.23 -40.00 90.00 21.90 38.10 158.30
CD520 5968.00 6096.20 213.23 -40.00 90.00 48.80 54.94 158.30
CD520 5968.00 6096.20 213.23 -40.00 90.00 84.45 103.51 158.30
CD520 5968.00 6096.20 213.23 -40.00 90.00 116.20 134.30 158.30
CD601 6222.00 6645.00 209.00 -45.00 90.00 3.50 29.20 117.10

34a Alexander St, Burnie Tasmania 7320

Page 80 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD601 6222.00 6645.00 209.00 -45.00 90.00 49.80 83.31 117.10
CD601 6222.00 6645.00 209.00 -45.00 90.00 83.31 94.40 117.10
CD602 6173.00 6503.00 213.00 -45.00 270.00 0.00 19.30 146.60
CD602 6173.00 6503.00 213.00 -45.00 270.00 56.10 68.34 146.60
CD603 6135.80 6417.00 214.70 -45.00 270.00 78.00 81.50 140.00
CD604 6332.00 6689.40 243.20 -50.00 90.00 11.30 26.50 113.30
CD604 6332.00 6689.40 243.20 -50.00 90.00 99.60 100.70 113.30
CD605 6424.10 7586.00 170.80 -45.00 270.00 60.60 83.90 151.00
CD605 6424.10 7586.00 170.80 -45.00 270.00 92.00 106.30 151.00
CD606 6424.10 7586.00 170.80 -45.00 90.00 9.00 15.60 184.00
CD606 6424.10 7586.00 170.80 -45.00 90.00 31.10 50.00 184.00
CD606 6424.10 7586.00 170.80 -45.00 90.00 50.00 59.70 184.00
CD606 6424.10 7586.00 170.80 -45.00 90.00 127.50 141.20 184.00
CD606 6424.10 7586.00 170.80 -45.00 90.00 150.50 155.10 184.00
CD606 6424.10 7586.00 170.80 -45.00 90.00 155.10 162.30 184.00
CD606 6424.10 7586.00 170.80 -45.00 90.00 174.60 180.10 184.00
CD607 6398.30 7181.30 187.50 -45.00 270.00 49.62 61.48 149.50
CD608 6360.00 7090.20 190.90 -40.00 90.00 49.00 58.70 169.50
CD608 6360.00 7090.20 190.90 -40.00 90.00 75.90 83.80 169.50
CD608 6360.00 7090.20 190.90 -40.00 90.00 107.40 108.70 169.50
CD609 6360.00 7090.20 190.90 -45.00 270.00 0.20 13.00 91.80
CD611 6349.20 6832.00 229.50 -40.00 90.00 6.43 17.80 140.00
CD611 6349.20 6832.00 229.50 -40.00 90.00 77.60 84.80 140.00
CD611 6349.20 6832.00 229.50 -40.00 90.00 121.00 126.00 140.00
CD612 6410.00 7498.50 173.20 -40.00 270.00 65.50 70.50 97.40
CD613 6436.00 7090.00 222.50 -40.00 90.00 17.60 31.80 169.00
CD613 6436.00 7090.00 222.50 -40.00 90.00 75.40 84.40 169.00
CD613 6436.00 7090.00 222.50 -40.00 90.00 117.20 125.21 169.00
CD614 6149.00 6279.50 230.29 -40.00 90.00 0.50 23.63 118.00
CD614 6149.00 6279.50 230.29 -40.00 90.00 31.80 37.40 118.00
CD614 6149.00 6279.50 230.29 -40.00 90.00 94.55 96.28 118.00
CD701 6444.20 7539.50 172.30 -45.00 90.00 6.30 20.70 194.30
CD701 6444.20 7539.50 172.30 -45.00 90.00 49.40 68.69 194.30
CD701 6444.20 7539.50 172.30 -45.00 90.00 69.20 82.00 194.30
CD701 6444.20 7539.50 172.30 -45.00 90.00 106.70 113.50 194.30
CD701 6444.20 7539.50 172.30 -45.00 90.00 126.70 130.00 194.30
CD701 6444.20 7539.50 172.30 -45.00 90.00 144.60 152.40 194.30
CD701 6444.20 7539.50 172.30 -45.00 90.00 167.20 172.15 194.30
CD702 6427.00 7440.00 174.30 -45.00 90.00 0.00 34.50 119.10
CD702 6427.00 7440.00 174.30 -45.00 90.00 34.50 55.60 119.10
CD702 6427.00 7440.00 174.30 -45.00 90.00 58.25 71.40 119.10

34a Alexander St, Burnie Tasmania 7320

Page 81 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD702 6427.00 7440.00 174.30 -45.00 90.00 84.10 90.30 119.10
CD702 6427.00 7440.00 174.30 -45.00 90.00 96.65 114.20 119.10
CD703 6420.00 7364.00 175.70 -43.00 90.00 0.00 11.55 155.60
CD703 6420.00 7364.00 175.70 -43.00 90.00 11.55 22.30 155.60
CD703 6420.00 7364.00 175.70 -43.00 90.00 25.30 69.00 155.60
CD703 6420.00 7364.00 175.70 -43.00 90.00 75.60 82.50 155.60
CD703 6420.00 7364.00 175.70 -43.00 90.00 82.50 90.00 155.60
CD703 6420.00 7364.00 175.70 -43.00 90.00 90.00 98.10 155.60
CD703 6420.00 7364.00 175.70 -43.00 90.00 98.10 104.90 155.60
CD703 6420.00 7364.00 175.70 -43.00 90.00 113.50 130.10 155.60
CD703 6420.00 7364.00 175.70 -43.00 90.00 141.00 148.90 155.60
CD704 6411.70 7317.50 176.00 -40.00 90.00 0.00 11.80 98.50
CD704 6411.70 7317.50 176.00 -40.00 90.00 13.90 30.00 98.50
CD704 6411.70 7317.50 176.00 -40.00 90.00 31.20 50.30 98.50
CD704 6411.70 7317.50 176.00 -40.00 90.00 53.10 71.40 98.50
CD704 6411.70 7317.50 176.00 -40.00 90.00 77.39 90.90 98.50
CD705 6423.00 7273.00 176.20 -40.00 90.00 0.00 37.20 131.20
CD705 6423.00 7273.00 176.20 -40.00 90.00 37.20 52.60 131.20
CD705 6423.00 7273.00 176.20 -40.00 90.00 71.50 78.90 131.20
CD705 6423.00 7273.00 176.20 -40.00 90.00 78.90 90.50 131.20
CD706 6381.00 7136.00 190.50 -40.00 90.00 65.80 70.50 115.85
CD706 6381.00 7136.00 190.50 -40.00 90.00 70.50 75.85 115.85
CD707 6304.90 7001.00 193.50 -40.00 90.00 0.00 4.50 112.50
CD707 6304.90 7001.00 193.50 -40.00 90.00 52.30 98.00 112.50
CD708 6259.80 6873.50 196.20 -45.00 90.00 18.00 58.06 120.50
CD708 6259.80 6873.50 196.20 -45.00 90.00 59.17 88.10 120.50
CD708 6259.80 6873.50 196.20 -45.00 90.00 98.20 111.00 120.50
CD709 6166.20 6640.80 201.60 -45.00 90.00 0.00 3.75 100.50
CD709 6166.20 6640.80 201.60 -45.00 90.00 24.00 28.55 100.50
CD709 6166.20 6640.80 201.60 -45.00 90.00 53.10 76.50 100.50
CD709 6166.20 6640.80 201.60 -45.00 90.00 86.00 93.92 100.50
CD709 6166.20 6640.80 201.60 -45.00 90.00 100.39 100.50 100.50
CD711 6151.50 6369.50 205.20 -40.00 90.00 0.00 5.50 91.50
CD711 6151.50 6369.50 205.20 -40.00 90.00 9.00 52.50 91.50
CD712 6098.80 6234.50 208.30 -40.00 270.00 0.00 13.30 144.00
CD712 6098.80 6234.50 208.30 -40.00 270.00 28.80 44.00 144.00
CD712 6098.80 6234.50 208.30 -40.00 270.00 44.00 78.30 144.00
CD712 6098.80 6234.50 208.30 -40.00 270.00 78.30 113.40 144.00
CD712 6098.80 6234.50 208.30 -40.00 270.00 123.70 139.50 144.00
CD713 6359.00 7043.00 192.70 -40.00 90.00 0.00 0.65 112.00
CD713 6359.00 7043.00 192.70 -40.00 90.00 26.20 42.00 112.00

34a Alexander St, Burnie Tasmania 7320

Page 82 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD713 6359.00 7043.00 192.70 -40.00 90.00 46.20 56.00 112.00
CD713 6359.00 7043.00 192.70 -40.00 90.00 92.70 98.30 112.00
CD714 6149.50 6462.50 204.30 -45.00 90.00 5.80 21.40 131.60
CD714 6149.50 6462.50 204.30 -45.00 90.00 23.25 48.10 131.60
CD714 6149.50 6462.50 204.30 -45.00 90.00 52.39 52.49 131.60
CD714 6149.50 6462.50 204.30 -45.00 90.00 83.53 83.60 131.60
CD714 6149.50 6462.50 204.30 -45.00 90.00 83.60 99.70 131.60
CD715 6219.50 6500.00 202.80 -50.00 270.00 50.19 52.77 91.40
CD715 6219.50 6500.00 202.80 -50.00 270.00 76.50 76.79 91.40
CD716 6500.00 7719.70 158.00 -40.00 270.00 0.00 49.58 157.20
CD716 6500.00 7719.70 158.00 -40.00 270.00 49.93 51.10 157.20
CD716 6500.00 7719.70 158.00 -40.00 270.00 51.20 66.60 157.20
CD716 6500.00 7719.70 158.00 -40.00 270.00 66.60 90.60 157.20
CD716 6500.00 7719.70 158.00 -40.00 270.00 90.60 110.20 157.20
CD716 6500.00 7719.70 158.00 -40.00 270.00 119.40 141.00 157.20
CD716 6500.00 7719.70 158.00 -40.00 270.00 141.00 148.90 157.20
CD717 6237.00 6830.00 197.20 -50.00 90.00 0.00 3.50 120.00
CD717 6237.00 6830.00 197.20 -50.00 90.00 24.30 33.60 120.00
CD717 6237.00 6830.00 197.20 -50.00 90.00 60.80 80.80 120.00
CD717 6237.00 6830.00 197.20 -50.00 90.00 89.10 94.30 120.00
CD717 6237.00 6830.00 197.20 -50.00 90.00 100.25 111.28 120.00
CD717 6237.00 6830.00 197.20 -50.00 90.00 111.28 120.00 120.00
CD718 6193.10 6736.50 199.50 -45.00 90.00 27.30 42.60 129.40
CD718 6193.10 6736.50 199.50 -45.00 90.00 54.52 55.03 129.40
CD718 6193.10 6736.50 199.50 -45.00 90.00 55.03 55.85 129.40
CD718 6193.10 6736.50 199.50 -45.00 90.00 55.85 65.26 129.40
CD718 6193.10 6736.50 199.50 -45.00 90.00 79.20 107.90 129.40
CD719 6233.90 6688.80 200.30 -40.00 90.00 0.00 4.50 120.00
CD719 6233.90 6688.80 200.30 -40.00 90.00 4.50 9.40 120.00
CD719 6233.90 6688.80 200.30 -40.00 90.00 9.40 18.70 120.00
CD719 6233.90 6688.80 200.30 -40.00 90.00 20.90 25.91 120.00
CD719 6233.90 6688.80 200.30 -40.00 90.00 35.75 76.60 120.00
CD719 6233.90 6688.80 200.30 -40.00 90.00 102.85 104.12 120.00
CD720 6244.50 6599.50 201.85 -45.00 90.00 7.00 12.72 104.70
CD720 6244.50 6599.50 201.85 -45.00 90.00 12.99 26.30 104.70
CD720 6244.50 6599.50 201.85 -45.00 90.00 26.30 48.70 104.70
CD720 6244.50 6599.50 201.85 -45.00 90.00 48.70 64.50 104.70
CD720 6244.50 6599.50 201.85 -45.00 90.00 94.15 95.20 104.70
CD721 6107.50 6325.00 207.25 -40.00 90.00 0.00 8.00 103.50
CD721 6107.50 6325.00 207.25 -40.00 90.00 32.90 45.70 103.50
CD721 6107.50 6325.00 207.25 -40.00 90.00 68.90 75.00 103.50

34a Alexander St, Burnie Tasmania 7320

Page 83 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD722 6075.00 6235.00 208.30 -45.00 90.00 0.00 12.50 90.00
CD722 6075.00 6235.00 208.30 -45.00 90.00 17.50 51.70 90.00
CD722 6075.00 6235.00 208.30 -45.00 90.00 51.70 58.30 90.00
CD723 6041.60 6140.00 233.30 -45.00 270.00 10.20 29.90 76.50
CD723 6041.60 6140.00 233.30 -45.00 270.00 35.00 44.70 76.50
CD724 6115.00 6139.70 240.90 -45.00 270.00 32.20 44.90 102.00
CD724 6115.00 6139.70 240.90 -45.00 270.00 53.11 64.35 102.00
CD724 6115.00 6139.70 240.90 -45.00 270.00 72.40 96.91 102.00
CD725 6400.00 7628.80 159.75 -40.00 90.00 44.04 80.00 204.00
CD725 6400.00 7628.80 159.75 -40.00 90.00 84.85 95.00 204.00
CD725 6400.00 7628.80 159.75 -40.00 90.00 95.00 123.00 204.00
CD725 6400.00 7628.80 159.75 -40.00 90.00 192.30 197.30 204.00
CD726 6360.50 6958.10 194.00 -40.00 90.00 3.80 16.00 89.00
CD726 6360.50 6958.10 194.00 -40.00 90.00 17.12 27.30 89.00
CD726 6360.50 6958.10 194.00 -40.00 90.00 31.20 51.28 89.00
CD726 6360.50 6958.10 194.00 -40.00 90.00 54.19 67.57 89.00
CD726 6360.50 6958.10 194.00 -40.00 90.00 69.54 72.98 89.00
CD726 6360.50 6958.10 194.00 -40.00 90.00 74.15 74.20 89.00
CD727 6294.60 6787.60 198.30 -40.00 90.00 0.00 11.20 100.00
CD727 6294.60 6787.60 198.30 -40.00 90.00 15.20 33.00 100.00
CD727 6294.60 6787.60 198.30 -40.00 90.00 62.50 90.00 100.00
CD727 6294.60 6787.60 198.30 -40.00 90.00 91.80 97.40 100.00
CD728 6139.70 6498.80 204.80 -45.00 90.00 0.00 9.50 99.70
CD728 6139.70 6498.80 204.80 -45.00 90.00 24.80 52.00 99.70
CD728 6139.70 6498.80 204.80 -45.00 90.00 60.50 62.40 99.70
CD728 6139.70 6498.80 204.80 -45.00 90.00 62.40 73.00 99.70
CD729 6132.60 6553.00 203.00 -40.00 90.00 41.20 47.10 164.50
CD729 6132.60 6553.00 203.00 -40.00 90.00 56.80 64.40 164.50
CD729 6132.60 6553.00 203.00 -40.00 90.00 64.64 78.08 164.50
CD729 6132.60 6553.00 203.00 -40.00 90.00 96.90 130.70 164.50
CD729 6132.60 6553.00 203.00 -40.00 90.00 131.20 149.14 164.50
CD729 6132.60 6553.00 203.00 -40.00 90.00 149.14 149.65 164.50
CD729 6132.60 6553.00 203.00 -40.00 90.00 149.65 149.95 164.50
CD730 6062.60 6279.00 208.10 -40.00 90.00 0.00 20.50 126.00
CD730 6062.60 6279.00 208.10 -40.00 90.00 33.90 53.20 126.00
CD730 6062.60 6279.00 208.10 -40.00 90.00 64.80 77.30 126.00
CD731 6386.00 7227.20 178.00 -40.00 90.00 35.70 52.50 110.00
CD732 6414.30 7182.00 179.10 -50.00 90.00 0.00 7.19 105.50
CD801 6450.50 7364.20 143.00 -45.00 270.00 0.00 8.80 98.50
CD801 6450.50 7364.20 143.00 -45.00 270.00 10.29 16.86 98.50
CD801 6450.50 7364.20 143.00 -45.00 270.00 34.00 58.30 98.50

34a Alexander St, Burnie Tasmania 7320

Page 84 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD801 6450.50 7364.20 143.00 -45.00 270.00 65.50 81.81 98.50
CD802 6465.00 7410.90 143.15 -45.00 90.00 0.00 12.47 85.00
CD802 6465.00 7410.90 143.15 -45.00 90.00 13.12 17.00 85.00
CD802 6465.00 7410.90 143.15 -45.00 90.00 17.00 35.00 85.00
CD802 6465.00 7410.90 143.15 -45.00 90.00 35.00 75.40 85.00
CD802 6465.00 7410.90 143.15 -45.00 90.00 75.40 78.50 85.00
CD803 6470.30 7439.50 141.70 -45.00 270.00 0.00 1.54 91.20
CD803 6470.30 7439.50 141.70 -45.00 270.00 4.29 25.70 91.20
CD803 6470.30 7439.50 141.70 -45.00 270.00 28.80 54.44 91.20
CD803 6470.30 7439.50 141.70 -45.00 270.00 54.44 86.80 91.20
CD804 6449.80 7272.20 145.40 -40.00 270.00 44.90 66.50 80.80
CD804 6449.80 7272.20 145.40 -40.00 270.00 70.10 73.60 80.80
CD805 6458.60 7719.50 128.60 -45.00 90.00 0.00 0.73 57.00
CD805 6458.60 7719.50 128.60 -45.00 90.00 2.40 19.70 57.00
CD805 6458.60 7719.50 128.60 -45.00 90.00 42.30 49.40 57.00
CD806 6186.10 6462.60 154.80 -45.00 270.00 46.82 54.00 54.00
CD807 6015.00 6235.40 155.90 -50.00 90.00 0.40 28.90 80.30
CD807 6015.00 6235.40 155.90 -50.00 90.00 28.90 42.10 80.30
CD807 6015.00 6235.40 155.90 -50.00 90.00 67.90 75.60 80.30
CD807 6015.00 6235.40 155.90 -50.00 90.00 75.60 80.30 80.30
CD808 6042.80 6278.80 147.00 -45.00 90.00 0.00 16.30 80.30
CD808 6042.80 6278.80 147.00 -45.00 90.00 40.70 45.70 80.30
CD808 6042.80 6278.80 147.00 -45.00 90.00 45.70 52.70 80.30
CD808 6042.80 6278.80 147.00 -45.00 90.00 52.70 75.70 80.30
CD808 6042.80 6278.80 147.00 -45.00 90.00 75.70 80.30 80.30
CD810 6124.90 6502.10 155.10 -45.00 90.00 28.38 38.31 77.00
CD810 6124.90 6502.10 155.10 -45.00 90.00 52.84 70.50 77.00
CD811 6446.80 7540.90 130.70 -50.00 90.00 0.00 0.83 100.00
CD811 6446.80 7540.90 130.70 -50.00 90.00 10.72 17.20 100.00
CD811 6446.80 7540.90 130.70 -50.00 90.00 17.20 27.60 100.00
CD811 6446.80 7540.90 130.70 -50.00 90.00 27.60 51.86 100.00
CD811 6446.80 7540.90 130.70 -50.00 90.00 53.49 58.80 100.00
CD811 6446.80 7540.90 130.70 -50.00 90.00 80.00 95.30 100.00
CD812 6445.90 7677.60 126.90 -45.00 90.00 0.00 9.53 117.00
CD812 6445.90 7677.60 126.90 -45.00 90.00 19.90 23.50 117.00
CD812 6445.90 7677.60 126.90 -45.00 90.00 23.50 33.00 117.00
CD812 6445.90 7677.60 126.90 -45.00 90.00 33.00 65.30 117.00
CD812 6445.90 7677.60 126.90 -45.00 90.00 65.30 73.70 117.00
CD812 6445.90 7677.60 126.90 -45.00 90.00 85.90 111.90 117.00
CD813 6470.10 7625.50 128.30 -50.00 270.00 0.00 42.90 90.00
CD813 6470.10 7625.50 128.30 -50.00 270.00 54.90 85.50 90.00

34a Alexander St, Burnie Tasmania 7320

Page 85 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD901 6573.40 7745.00 145.00 -54.00 270.00 105.00 115.00 301.50
CD901 6573.40 7745.00 145.00 -54.00 270.00 124.40 162.10 301.50
CD901 6573.40 7745.00 145.00 -54.00 270.00 164.00 255.80 301.50
CD901 6573.40 7745.00 145.00 -54.00 270.00 264.20 292.50 301.50
CD901 6573.40 7745.00 145.00 -54.00 270.00 292.50 299.50 301.50
CD903 5926.00 6158.30 209.50 -50.00 90.00 107.30 113.40 241.30
CD903 5926.00 6158.30 209.50 -50.00 90.00 115.55 118.50 241.30
CD903 5926.00 6158.30 209.50 -50.00 90.00 127.60 171.00 241.30
CD903 5926.00 6158.30 209.50 -50.00 90.00 181.86 202.01 241.30
CD903 5926.00 6158.30 209.50 -50.00 90.00 210.34 211.51 241.30
CD903 5926.00 6158.30 209.50 -50.00 90.00 214.40 224.40 241.30
CD904 5942.20 6325.10 192.50 -50.00 90.00 178.80 187.30 272.00
CD904 5942.20 6325.10 192.50 -50.00 90.00 196.80 197.95 272.00
CD904 5942.20 6325.10 192.50 -50.00 90.00 197.95 198.12 272.00
CD904 5942.20 6325.10 192.50 -50.00 90.00 198.12 219.30 272.00
CD904 5942.20 6325.10 192.50 -50.00 90.00 227.60 264.60 272.00
CD905 6061.80 6499.90 173.00 -50.00 90.00 95.29 109.05 247.00
CD905 6061.80 6499.90 173.00 -50.00 90.00 123.30 126.50 247.00
CD905 6061.80 6499.90 173.00 -50.00 90.00 138.30 142.30 247.00
CD905 6061.80 6499.90 173.00 -50.00 90.00 152.10 178.40 247.00
CD905 6061.80 6499.90 173.00 -50.00 90.00 196.80 212.03 247.00
CD905 6061.80 6499.90 173.00 -50.00 90.00 212.03 212.04 247.00
CD905 6061.80 6499.90 173.00 -50.00 90.00 212.05 230.70 247.00
CD905 6061.80 6499.90 173.00 -50.00 90.00 237.92 242.40 247.00
CD906 6163.00 6780.00 168.50 -50.00 83.00 96.80 107.70 236.70
CD906 6163.00 6780.00 168.50 -50.00 83.00 114.48 136.80 236.70
CD906 6163.00 6780.00 168.50 -50.00 83.00 143.00 161.20 236.70
CD908 6599.00 7540.00 183.00 -53.00 270.00 82.40 92.30 250.00
CD908 6599.00 7540.00 183.00 -53.00 270.00 93.70 97.10 250.00
CD908 6599.00 7540.00 183.00 -53.00 270.00 128.50 139.10 250.00
CD908 6599.00 7540.00 183.00 -53.00 270.00 153.18 169.67 250.00
CD908 6599.00 7540.00 183.00 -53.00 270.00 169.96 224.40 250.00
CD908 6599.00 7540.00 183.00 -53.00 270.00 238.20 250.00 250.00
CD910 6111.00 6599.00 160.00 -45.00 90.00 93.04 93.51 242.00
CD910 6111.00 6599.00 160.00 -45.00 90.00 116.20 134.10 242.00
CD910 6111.00 6599.00 160.00 -45.00 90.00 134.53 166.81 242.00
CD910 6111.00 6599.00 160.00 -45.00 90.00 201.17 201.27 242.00
CD911 6007.00 6095.00 222.00 -60.00 90.00 0.00 24.00 111.00
CD911 6007.00 6095.00 222.00 -60.00 90.00 58.00 84.00 111.00
CD911 6007.00 6095.00 222.00 -60.00 90.00 110.92 111.00 111.00
CD913 5948.00 6045.00 222.00 -60.00 90.00 28.00 42.00 96.00

34a Alexander St, Burnie Tasmania 7320

Page 86 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CD913 5948.00 6045.00 222.00 -60.00 90.00 70.18 80.08 96.00
CDDH07001 6421.05 7816.59 111.71 -53.56 72.63 4.76 13.36 20.00
CDDH07001 6421.05 7816.59 111.71 -53.56 72.63 13.36 20.00 20.00
CDDH07002 6419.03 7816.03 111.54 -86.27 244.45 5.60 20.00 20.00
CDDH13011 6017.12 6673.00 188.58 -50.62 91.34 280.75 287.80 410.00
CDDH13012 6056.43 6746.77 193.83 -59.73 91.48 279.30 300.50 400.00
CDDH13012 6056.43 6746.77 193.83 -59.73 91.48 305.60 311.20 400.00
CDDH13012 6056.43 6746.77 193.83 -59.73 91.48 328.20 360.93 400.00
CDDH13012 6056.43 6746.77 193.83 -59.73 91.48 360.93 364.37 400.00
CDDH13013 6174.86 6829.12 168.98 -53.71 126.79 99.00 111.00 262.10
CDDH13013 6174.86 6829.12 168.98 -53.71 126.79 121.53 138.25 262.10
CDDH13013 6174.86 6829.12 168.98 -53.71 126.79 145.40 167.90 262.10
CDDH13013 6174.86 6829.12 168.98 -53.71 126.79 174.10 184.90 262.10
CDDH13013 6174.86 6829.12 168.98 -53.71 126.79 186.90 212.90 262.10
CDDH13013 6174.86 6829.12 168.98 -53.71 126.79 222.30 233.60 262.10
CDDH13014 6175.23 6829.95 169.14 -52.04 81.07 82.72 92.30 315.20
CDDH13014 6175.23 6829.95 169.14 -52.04 81.07 112.30 120.90 315.20
CDDH13014 6175.23 6829.95 169.14 -52.04 81.07 199.90 218.00 315.20
CDDH13014 6175.23 6829.95 169.14 -52.04 81.07 243.50 255.50 315.20
CDDH13014 6175.23 6829.95 169.14 -52.04 81.07 271.10 281.62 315.20
CDDH13014 6175.23 6829.95 169.14 -52.04 81.07 281.62 281.63 315.20
CDDH13014 6175.23 6829.95 169.14 -52.04 81.07 281.63 292.40 315.20
CDDH13014 6175.23 6829.95 169.14 -52.04 81.07 296.10 308.98 315.20
CDDH13015 6263.19 6927.95 155.05 -57.38 112.68 89.37 90.89 229.80
CDDH13015 6263.19 6927.95 155.05 -57.38 112.68 116.29 117.98 229.80
CDDH13015 6263.19 6927.95 155.05 -57.38 112.68 133.60 140.60 229.80
CDDH13015 6263.19 6927.95 155.05 -57.38 112.68 148.60 171.10 229.80
CDDH13015 6263.19 6927.95 155.05 -57.38 112.68 171.10 174.80 229.80
CDDH13015 6263.19 6927.95 155.05 -57.38 112.68 182.30 184.00 229.80
CDDH13015 6263.19 6927.95 155.05 -57.38 112.68 190.57 208.70 229.80
CDDH13016 6264.22 6930.42 155.01 -50.97 77.19 102.57 113.78 230.10
CDDH13016 6264.22 6930.42 155.01 -50.97 77.19 121.90 128.43 230.10
CDDH13016 6264.22 6930.42 155.01 -50.97 77.19 145.82 161.05 230.10
CDDH13016 6264.22 6930.42 155.01 -50.97 77.19 177.33 187.12 230.10
CDDH13016 6264.22 6930.42 155.01 -50.97 77.19 187.12 191.50 230.10
CDDH13016 6264.22 6930.42 155.01 -50.97 77.19 191.50 212.97 230.10
CDDH13017 6176.23 6828.28 168.23 -51.97 98.46 76.33 86.67 278.30
CDDH13017 6176.23 6828.28 168.23 -51.97 98.46 112.30 122.40 278.30
CDDH13017 6176.23 6828.28 168.23 -51.97 98.46 124.30 159.15 278.30
CDDH13017 6176.23 6828.28 168.23 -51.97 98.46 164.10 177.00 278.30
CDDH13017 6176.23 6828.28 168.23 -51.97 98.46 238.00 243.30 278.30

34a Alexander St, Burnie Tasmania 7320

Page 87 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CDDH13018 6338.83 7000.72 144.49 -63.85 90.02 45.30 54.17 163.70
CDDH13018 6338.83 7000.72 144.49 -63.85 90.02 60.55 82.24 163.70
CDDH13018 6338.83 7000.72 144.49 -63.85 90.02 82.24 82.82 163.70
CDDH13018 6338.83 7000.72 144.49 -63.85 90.02 82.82 102.70 163.70
CDDH13018 6338.83 7000.72 144.49 -63.85 90.02 109.15 138.80 163.70
CDDH13018 6338.83 7000.72 144.49 -63.85 90.02 138.80 148.00 163.70
CDDH13019 6323.90 7087.32 139.92 -56.50 116.73 28.50 52.62 195.20
CDDH13019 6323.90 7087.32 139.92 -56.50 116.73 72.70 106.80 195.20
CDDH13019 6323.90 7087.32 139.92 -56.50 116.73 110.50 127.00 195.20
CDDH13019 6323.90 7087.32 139.92 -56.50 116.73 130.80 163.80 195.20
CDDH13019 6323.90 7087.32 139.92 -56.50 116.73 170.00 186.55 195.20
CDDH13020 6323.92 7088.57 139.93 -54.70 81.62 38.20 49.60 219.60
CDDH13020 6323.92 7088.57 139.93 -54.70 81.62 59.35 81.00 219.60
CDDH13020 6323.92 7088.57 139.93 -54.70 81.62 93.45 124.30 219.60
CDDH13020 6323.92 7088.57 139.93 -54.70 81.62 130.00 139.80 219.60
CDDH13020 6323.92 7088.57 139.93 -54.70 81.62 150.11 174.35 219.60
CDDH13020 6323.92 7088.57 139.93 -54.70 81.62 174.35 195.40 219.60
CDDH13021 6323.51 7090.78 139.72 -48.83 54.88 52.80 56.70 246.50
CDDH13021 6323.51 7090.78 139.72 -48.83 54.88 65.23 68.05 246.50
CDDH13021 6323.51 7090.78 139.72 -48.83 54.88 69.10 98.30 246.50
CDDH13021 6323.51 7090.78 139.72 -48.83 54.88 122.20 148.40 246.50
CDDH13021 6323.51 7090.78 139.72 -48.83 54.88 151.90 179.90 246.50
CDDH13021 6323.51 7090.78 139.72 -48.83 54.88 181.60 185.10 246.50
CDDH13021 6323.51 7090.78 139.72 -48.83 54.88 189.60 202.40 246.50
CDDH13021 6323.51 7090.78 139.72 -48.83 54.88 210.40 228.10 246.50
CDDH14001 6294.11 6850.43 141.64 -59.16 89.75 0.00 9.60 314.20
CDDH14001 6294.11 6850.43 141.64 -59.16 89.75 16.98 19.37 314.20
CDDH14001 6294.11 6850.43 141.64 -59.16 89.75 19.53 37.79 314.20
CDDH14001 6294.11 6850.43 141.64 -59.16 89.75 44.80 54.00 314.20
CDDH14001 6294.11 6850.43 141.64 -59.16 89.75 98.42 109.25 314.20
CDDH14001 6294.11 6850.43 141.64 -59.16 89.75 110.34 118.60 314.20
CDDH14001 6294.11 6850.43 141.64 -59.16 89.75 189.40 197.90 314.20
CDDH14001 6294.11 6850.43 141.64 -59.16 89.75 258.15 262.00 314.20
CDDH14002 6314.81 6900.14 140.75 -60.15 90.51 18.00 23.30 150.70
CDDH14002 6314.81 6900.14 140.75 -60.15 90.51 90.42 91.52 150.70
CDDH14002 6314.81 6900.14 140.75 -60.15 90.51 91.52 93.70 150.70
CDDH14002 6314.81 6900.14 140.75 -60.15 90.51 95.90 98.90 150.70
CDDH14002 6314.81 6900.14 140.75 -60.15 90.51 99.14 106.38 150.70
CDDH14003 6342.98 6950.19 140.46 -59.38 89.98 0.00 0.35 135.10
CDDH14003 6342.98 6950.19 140.46 -59.38 89.98 99.02 99.26 135.10
CDDH14004 6392.66 7050.16 152.20 -60.06 89.94 32.50 44.92 115.80

34a Alexander St, Burnie Tasmania 7320

Page 88 of 93

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----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CDDH14004 6392.66 7050.16 152.20 -60.06 89.94 66.40 72.40 115.80
CDDH14004 6392.66 7050.16 152.20 -60.06 89.94 72.40 76.45 115.80
CDDH14005 6396.75 7100.15 153.15 -60.04 90.91 5.90 18.29 120.80
CDDH14005 6396.75 7100.15 153.15 -60.04 90.91 30.95 49.00 120.80
CDDH14005 6396.75 7100.15 153.15 -60.04 90.91 63.75 76.15 120.80
CDDH14005 6396.75 7100.15 153.15 -60.04 90.91 78.20 87.30 120.80
CDDH14005 6396.75 7100.15 153.15 -60.04 90.91 87.30 95.80 120.80
CDDH14006 6403.49 7150.27 153.73 -59.16 90.22 33.02 33.35 122.20
CDDH14006 6403.49 7150.27 153.73 -59.16 90.22 46.38 53.51 122.20
CDDH14006 6403.49 7150.27 153.73 -59.16 90.22 67.55 77.80 122.20
CDDH14006 6403.49 7150.27 153.73 -59.16 90.22 102.18 112.35 122.20
CP2018_01 6485.02 7204.29 166.17 -54.14 90.32 0.00 5.37 212.00
CP2018_01 6485.02 7204.29 166.17 -54.14 90.32 28.92 33.78 212.00
CP2018_02 6331.39 7398.26 132.22 -47.90 87.48 42.04 58.10 255.50
CP2018_02 6331.39 7398.26 132.22 -47.90 87.48 109.62 127.93 255.50
CP2018_02 6331.39 7398.26 132.22 -47.90 87.48 127.93 149.99 255.50
CP2018_02 6331.39 7398.26 132.22 -47.90 87.48 186.27 190.30 255.50
CP2018_02 6331.39 7398.26 132.22 -47.90 87.48 200.97 209.54 255.50
CP2018_02 6331.39 7398.26 132.22 -47.90 87.48 227.70 227.72 255.50
CP2018_02 6331.39 7398.26 132.22 -47.90 87.48 248.78 251.80 255.50
CP2018_03 6331.97 7242.69 136.59 -65.86 90.00 61.82 84.92 211.30
CP2018_03 6331.97 7242.69 136.59 -65.86 90.00 133.32 134.61 211.30
CP2018_03 6331.97 7242.69 136.59 -65.86 90.00 136.08 147.20 211.30
CP2018_03 6331.97 7242.69 136.59 -65.86 90.00 189.80 211.30 211.30
CP2018_04 6331.08 7243.70 136.53 -46.41 58.59 50.30 68.35 221.90
CP2018_04 6331.08 7243.70 136.53 -46.41 58.59 104.77 117.09 221.90
CP2018_04 6331.08 7243.70 136.53 -46.41 58.59 121.12 174.96 221.90
CP2018_04 6331.08 7243.70 136.53 -46.41 58.59 174.96 183.03 221.90
CP2018_05 6332.48 7401.90 132.07 -51.06 116.79 46.17 68.15 200.50
CP2018_05 6332.48 7401.90 132.07 -51.06 116.79 107.10 121.12 200.50
CP2018_05 6332.48 7401.90 132.07 -51.06 116.79 121.12 133.89 200.50
CP2018_05 6332.48 7401.90 132.07 -51.06 116.79 133.89 183.71 200.50
CP2018_06a 6327.72 7484.72 126.98 -63.13 67.57 47.66 50.09 150.30
CP2018_06a 6327.72 7484.72 126.98 -63.13 67.57 72.24 95.88 150.30
CP2018_06a 6327.72 7484.72 126.98 -63.13 67.57 117.29 122.95 150.30
CP2018_07 6329.62 7399.55 132.10 -68.10 90.23 67.69 110.80 132.50
CP2018_08a 6409.45 7359.83 152.61 -52.39 72.35 1.14 30.59 222.50
CP2018_08a 6409.45 7359.83 152.61 -52.39 72.35 88.51 96.42 222.50
CP2018_08a 6409.45 7359.83 152.61 -52.39 72.35 98.26 111.16 222.50
CP2018_08a 6409.45 7359.83 152.61 -52.39 72.35 121.97 130.92 222.50
CP2018_08a 6409.45 7359.83 152.61 -52.39 72.35 133.38 159.91 222.50

34a Alexander St, Burnie Tasmania 7320

Page 89 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CP2018_08a 6409.45 7359.83 152.61 -52.39 72.35 160.92 167.33 222.50
CP2018_09a 6326.79 7486.01 126.93 -49.95 36.76 96.44 138.86 157.00
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 40.00 48.60 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 49.54 59.65 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 62.27 96.26 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 142.66 150.74 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 153.85 162.94 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 188.69 194.91 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 201.84 227.46 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 229.11 230.75 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 240.93 257.42 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 257.42 275.58 333.50
CP2018_12 6365.73 7856.44 110.32 -44.20 143.04 324.84 329.49 333.50
CP2018_13 6327.72 7484.72 126.98 -48.78 90.08 34.15 39.64 274.00
CP2018_13 6327.72 7484.72 126.98 -48.78 90.08 52.72 63.92 274.00
CP2018_13 6327.72 7484.72 126.98 -48.78 90.08 75.84 78.49 274.00
CP2018_13 6327.72 7484.72 126.98 -48.78 90.08 132.81 134.13 274.00
CP2018_13 6327.72 7484.72 126.98 -48.78 90.08 142.66 157.24 274.00
CP2018_13 6327.72 7484.72 126.98 -48.78 90.08 157.24 171.10 274.00
CP2018_13 6327.72 7484.72 126.98 -48.78 90.08 186.32 219.24 274.00
CP2018_13 6327.72 7484.72 126.98 -48.78 90.08 226.20 251.04 274.00
CP8877 6491.00 7699.00 129.00 -90.00 0.00 0.00 4.30 21.00
CP8877 6491.00 7699.00 129.00 -90.00 0.00 9.00 21.00 21.00
CP8879 6472.00 7696.00 127.00 -90.00 0.00 0.00 3.00 3.00
CP8880 6465.00 7677.00 127.00 -90.00 0.00 0.00 3.00 3.00
CP8881 6457.00 7653.00 127.00 -90.00 0.00 0.00 6.00 6.00
CP8883 6461.00 7627.00 127.00 -90.00 0.00 0.00 21.00 21.00
CP8884 6455.00 7628.00 127.00 -90.00 0.00 0.00 3.00 3.00
CP8885 6459.00 7612.00 127.00 -90.00 0.00 0.00 21.00 21.00
CP8886 6464.00 7657.00 128.00 -90.00 0.00 0.00 6.00 6.00
CP8887 6456.00 7591.00 127.00 -90.00 0.00 0.00 1.14 21.00
CP8887 6456.00 7591.00 127.00 -90.00 0.00 12.00 21.00 21.00
CP8888 6453.00 7572.00 127.00 -90.00 0.00 0.00 21.00 21.00
CP8889 6454.00 7541.00 129.00 -90.00 0.00 6.00 18.00 24.00
CP8890 6462.00 7512.00 129.00 -90.00 0.00 0.00 11.24 24.00
CP8890 6462.00 7512.00 129.00 -90.00 0.00 13.34 24.00 24.00
CP8891 6476.00 7518.00 128.00 -90.00 0.00 0.06 24.00 24.00
CP8892 6475.00 7541.00 129.00 -90.00 0.00 0.65 21.70 24.00
CP8892 6475.00 7541.00 129.00 -90.00 0.00 22.79 24.00 24.00
CP8893 6485.00 7460.00 128.00 -90.00 0.00 0.00 24.00 24.00
CP8894 6474.00 7481.00 129.00 -90.00 0.00 0.00 24.00 24.00

34a Alexander St, Burnie Tasmania 7320

Page 90 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
CP8895 6485.00 7502.00 128.00 -90.00 0.00 0.00 24.00 24.00
CP8896 6469.00 7500.00 129.00 -90.00 0.00 0.00 24.00 24.00
CP8897 6473.00 7678.00 128.00 -90.00 0.00 0.00 6.00 6.00
CP8898 6481.00 7699.00 128.00 -90.00 0.00 0.00 0.92 3.00
CPSTH1 6406.65 6997.93 159.25 -54.68 110.30 0.00 12.00 29.50
CPSTH2 6404.77 7012.28 157.21 -53.29 111.16 0.00 29.50 29.50
DH014 6660.00 7870.00 140.00 -60.00 274.00 258.50 268.80 469.70
DH014 6660.00 7870.00 140.00 -60.00 274.00 272.20 291.10 469.70
DH014 6660.00 7870.00 140.00 -60.00 274.00 307.50 349.00 469.70
DH014 6660.00 7870.00 140.00 -60.00 274.00 355.10 356.30 469.70
DH014 6660.00 7870.00 140.00 -60.00 274.00 368.80 417.60 469.70
DH018 6558.00 8042.00 155.40 -55.00 270.00 111.66 145.40 193.20
DH018 6558.00 8042.00 155.40 -55.00 270.00 160.16 169.80 193.20
DH018 6558.00 8042.00 155.40 -55.00 270.00 169.80 172.80 193.20
DH019 6552.00 8195.00 161.50 -60.00 270.00 20.62 77.61 150.00
DH019 6552.00 8195.00 161.50 -60.00 270.00 77.62 81.78 150.00
DH019 6552.00 8195.00 161.50 -60.00 270.00 83.67 84.30 150.00
DH019 6552.00 8195.00 161.50 -60.00 270.00 85.78 87.50 150.00
DH023 6252.00 6736.00 284.00 -46.00 270.00 0.00 32.35 90.50
DH023 6252.00 6736.00 284.00 -46.00 270.00 32.59 84.94 90.50
DH023 6252.00 6736.00 284.00 -46.00 270.00 88.40 90.50 90.50
DH039 6642.50 8187.00 143.75 -80.00 274.00 144.20 146.46 167.00
DH039B 6642.50 8187.00 143.80 -80.00 274.00 150.63 153.89 320.30
DH039B 6642.50 8187.00 143.80 -80.00 274.00 212.50 312.93 320.30
DH042 6725.00 7860.00 145.00 -80.00 270.30 539.50 555.80 697.80
DH042 6725.00 7860.00 145.00 -80.00 270.30 570.10 695.60 697.80
DH048 6577.00 8341.50 195.10 -60.00 274.00 73.80 88.38 101.50
GT001 6355.28 7940.68 111.75 -43.50 270.00 0.00 14.69 161.34
ND049 6490.70 8019.90 179.00 -45.00 270.00 28.35 37.81 136.00
ND049 6490.70 8019.90 179.00 -45.00 270.00 44.16 59.69 136.00
ND049 6490.70 8019.90 179.00 -45.00 270.00 61.83 98.00 136.00
ND049 6490.70 8019.90 179.00 -45.00 270.00 102.90 119.65 136.00
ND066 6463.32 7928.74 154.71 -43.00 267.92 13.53 67.90 127.00
ND066 6463.32 7928.74 154.71 -43.00 267.92 67.90 90.48 127.00
ND067 6412.17 7990.06 154.96 -51.00 89.30 0.00 0.91 151.50
ND067 6412.17 7990.06 154.96 -51.00 89.30 22.60 48.19 151.50
ND067 6412.17 7990.06 154.96 -51.00 89.30 53.36 75.64 151.50
ND067 6412.17 7990.06 154.96 -51.00 89.30 75.64 77.70 151.50
ND067 6412.17 7990.06 154.96 -51.00 89.30 122.30 128.30 151.50
ND068 6530.80 8089.56 146.52 -45.00 269.10 58.81 61.80 197.00
ND068 6530.80 8089.56 146.52 -45.00 269.10 61.80 84.30 197.00

34a Alexander St, Burnie Tasmania 7320

Page 91 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
ND068 6530.80 8089.56 146.52 -45.00 269.10 87.10 94.05 197.00
ND068 6530.80 8089.56 146.52 -45.00 269.10 94.05 98.09 197.00
ND068 6530.80 8089.56 146.52 -45.00 269.10 131.80 133.80 197.00
ND068 6530.80 8089.56 146.52 -45.00 269.10 145.80 148.60 197.00
ND069 6539.71 8141.51 146.47 -47.00 269.50 50.60 68.80 139.00
ND069 6539.71 8141.51 146.47 -47.00 269.50 77.57 78.03 139.00
ND069 6539.71 8141.51 146.47 -47.00 269.50 78.03 78.09 139.00
ND069 6539.71 8141.51 146.47 -47.00 269.50 78.09 93.80 139.00
ND070 6514.60 8239.37 153.19 -45.00 88.22 4.00 45.70 163.00
ND070 6514.60 8239.37 153.19 -45.00 88.22 46.34 52.31 163.00
ND070 6514.60 8239.37 153.19 -45.00 88.22 85.50 93.50 163.00
ND074 6510.74 8297.89 157.00 -45.00 87.91 0.00 13.80 148.50
ND074 6510.74 8297.89 157.00 -45.00 87.91 19.00 46.60 148.50
ND078 6440.30 8141.70 139.20 -45.00 91.98 29.29 61.51 151.00
ND078 6440.30 8141.70 139.20 -45.00 91.98 61.55 61.57 151.00
ND078 6440.30 8141.70 139.20 -45.00 91.98 69.40 108.83 151.00
ND078 6440.30 8141.70 139.20 -45.00 91.98 115.80 138.70 151.00
ND078 6440.30 8141.70 139.20 -45.00 91.98 140.28 142.40 151.00
ND079 6477.70 8087.70 125.80 -37.00 270.35 0.00 12.30 91.60
ND079 6477.70 8087.70 125.80 -37.00 270.35 21.60 29.37 91.60
ND079 6477.70 8087.70 125.80 -37.00 270.35 40.10 51.30 91.60
ND079 6477.70 8087.70 125.80 -37.00 270.35 58.60 71.30 91.60
ND093 6618.40 8348.80 163.90 -38.00 270.00 99.96 106.92 200.00
ND095 6519.90 8440.40 168.80 -40.00 90.00 79.27 85.90 177.50
NP026 6444.00 8040.00 203.10 -90.00 0.00 54.00 75.00 75.00
NP027 6425.00 7990.00 210.20 -90.00 0.00 9.00 32.92 90.00
NP027 6425.00 7990.00 210.20 -90.00 0.00 36.01 57.00 90.00
NP028 6463.00 7993.00 185.40 -90.00 0.00 0.00 12.00 81.00
NP028 6463.00 7993.00 185.40 -90.00 0.00 21.00 81.00 81.00
NP030 6520.00 8189.00 159.70 -90.00 0.00 0.00 39.00 39.00
NP031 6424.00 7894.00 167.80 -90.00 0.00 0.00 36.00 36.00
NP032 6487.00 7990.00 166.20 -60.00 270.00 0.00 12.00 60.00
NP032 6487.00 7990.00 166.20 -60.00 270.00 30.00 51.94 60.00
NP032 6487.00 7990.00 166.20 -60.00 270.00 51.94 60.00 60.00
NP033 6451.00 7891.00 150.80 -90.00 0.00 0.00 27.00 27.00
SL001 6404.00 7989.90 215.40 -60.00 270.00 0.00 24.00 24.00
SL002 6400.00 7940.00 199.00 -60.00 270.00 4.00 15.00 70.00
SL003 6381.70 8029.70 183.10 -60.00 90.00 22.23 39.09 70.00
SL004 6353.40 7893.70 174.50 -60.00 270.00 9.00 43.00 43.00
SL005 6378.50 7888.10 172.90 -60.00 90.00 16.00 65.00 65.00
SL006 6450.20 7891.30 151.60 -60.00 270.00 0.00 1.98 30.00

34a Alexander St, Burnie Tasmania 7320

Page 92 of 93

==> picture [557 x 100] intentionally omitted <==

----- Start of picture text -----

ANNUAL RESOURCE & RESERVE STATEMENT
DECEMBER 2020
----- End of picture text -----

Table 18 Centre Pit Combined Drill-hole Intersects as at 31 Dec 2020

Hole ID x y z dip azimuth Depth from Depth to Max depth
SL006 6450.20 7891.30 151.60 -60.00 270.00 23.00 30.00 30.00
SL007 6466.20 7947.50 166.00 -40.00 270.00 23.00 34.00 34.00
SL009 6549.70 7939.80 110.00 0.00 270.00 50.00 75.00 163.00
SL009 6549.70 7939.80 110.00 0.00 270.00 75.00 92.91 163.00
SL009 6549.70 7939.80 110.00 0.00 270.00 101.50 103.53 163.00
SL009 6549.70 7939.80 110.00 0.00 270.00 115.05 133.28 163.00
SL009 6549.70 7939.80 110.00 0.00 270.00 142.47 151.89 163.00
SL010 6523.10 7890.80 107.10 0.00 270.00 29.00 43.78 124.00
SL010 6523.10 7890.80 107.10 0.00 270.00 43.78 44.00 124.00
SL010 6523.10 7890.80 107.10 0.00 270.00 44.00 59.00 124.00
SL010 6523.10 7890.80 107.10 0.00 270.00 89.00 95.00 124.00
SL010 6523.10 7890.80 107.10 0.00 270.00 95.00 119.00 124.00
SL010 6523.10 7890.80 107.10 0.00 270.00 119.00 124.00 124.00
SL012 6508.90 8090.60 167.70 -20.00 270.00 18.00 39.00 71.00
SL012 6508.90 8090.60 167.70 -20.00 270.00 39.00 51.00 71.00
SL012 6508.90 8090.60 167.70 -20.00 270.00 51.58 51.68 71.00
SL012 6508.90 8090.60 167.70 -20.00 270.00 51.68 63.00 71.00
SL013 6505.80 7990.10 161.60 -60.00 270.00 0.00 5.00 78.00
SL013 6505.80 7990.10 161.60 -60.00 270.00 61.00 70.00 78.00
SLP07001 6438.15 7823.13 110.06 -72.00 73.00 0.00 1.27 18.00
SLP07002 6427.14 7816.89 111.25 -70.00 77.00 0.00 2.63 18.00
SLP07002 6427.14 7816.89 111.25 -70.00 77.00 2.63 3.59 18.00
SLP07002 6427.14 7816.89 111.25 -70.00 77.00 3.59 17.29 18.00
SLP07004 6402.69 7810.45 111.26 -73.00 94.00 0.00 18.00 18.00
SLP07005 6383.30 7807.47 111.84 -73.00 100.00 4.00 16.18 18.00

34a Alexander St, Burnie Tasmania 7320

Page 93 of 93