Member Info for AGEOS

Continuation re forshortened last paragraph:

Such a high-grade concentration, in only two 100m3 blocks, would be the most likely initial target for a mine at APTA, and one which I anticipate could be the focus of the impending consultancy report.

AGEOS

On 21.10.2018, I suggested that extensions of the high-grade zones could have been displaced at depth west of the N-S aligned El Cuno Fault, a possibility supported by results from holes 92 and 95, and which if confirmed by future deep drilling could significantly increase the resource potential in that direction. That, plus the potential for further down-dip and infill drilling, and not forgetting the polymetallic aspects of the prospect, supports the possibility that APTA may well be developed to economic viability irrespective of what is discovered elsewhere in the ANZA region.

The above extracts were based on all data released up until 02.02.2023 since when there has been no reported further drilling or reassessment of core samples from APTA, so the calculations and assessment at that time remain equally valid today. An indicated resource of 2.342M oz Au +/- 20% at APTA is as valid now as it was then, and even more so in view of recent company developments. The recent placing will, as indicated on X [19.12.2024] allow the company to “advance APTA”.

In this most recent [Dec 16th] Presentation & Q & A, Brad confirms they are awaiting a report from consultants assessing the feasibility of an NI 43-101 MRE for APTA which should clarify what further work is required before initiating what he estimates to be a six month long process. At 56-60 mins into the presentation he emphasises that APTA might be the distal part of something bigger, possibly extending to the south and east. With regard to a possible southerly extension, I posted on 06.04.2023 reference by Outcrop Silver & Gold Corp regarding their Oribella discovery as “inferred to project southwards from the APTA structures”., although this does not imply continuity of mineralisation that far south. The possible eastern extension refers to continuation of mineralisation down-dip. There is also a possible western extension to APTA which I detailed in a 21.10.2018 post, due to down-throw west of the El Cuno Fault [paragraph 5 of the 02.02.2023 post above]. Investigation of any of these possible extensions would require further drilling.

Brad also emphasised the need to reassess cores and core-log data, both with regard to a reassessment of the structural interpretations and Au-grades, before any consideration of further drilling. He referred specifically at c28 mins to the need for better understanding of the “high -grade pods” which include the two 100cu m blocks I detailed in a 20.10.2024 post as follows:

“Furthermore, two of the 29 blocks [C4b & C6d of my model] contain 876,238oz Au, a third of the total MRE, indicating a high-grade 200m3 core 120-220m to 250-350 below ground level and 800-1000m above sea-level, which could be the target for a selective initial NI 43-101 compliant MRE.”

Such a high-grade concentration, in only two blocks, would be the most likely initial target for a mine at APTA, and one which I anticipate could be the focus of the impendin

Although current attention is understandably focussed on PEPAS, comments by Brad during the recent presentation provide valuable insight into his assessment of the potential at the APTA prospect and why the process towards an NI-43-101 Mineral Resource Estimate [MRE] is proceeding with such caution. My post of 20.10.2024 in response to the premature expectancy of an imminent MRE for APTA, expressed by some on this chat board, outlined some of the constraints, so it is reassuring to hear Brad's confirmation of these and of other more geo-technical aspects which I have detailed in several earlier posts. Before enlarging on these issues and in recognition of the presumed new-comers to OMI, the following extracts from previous posts should provide appropriate context regarding the potential resource at APTA.

From an 02.02.2023 post, the following five paragraphs:

Those familiar with the background to the APTA prospect will know that the baseline for estimation of the gold resource is that produced [in January 2017] by MDA [Mine Development Associates] of Reno, Nevada who calculated a resource of 1.6M – 2.3M tonnes averaging between 3.2 – 3.7g/t au, based on the data from 53 holes. This indicated a potential resource of between 165,000oz and 274,000oz au.

I used the parameters inherent in MDA's calculations as the basis for an update on the potential resource, as posted in detail on 13.10.2018, and calculated an indicated resource of between 308,000 and 357,000oz au based on the then total of 71 holes drilled.

With the resumption of drilling in late 2020, I posted on 08.02.2021 that I had constructed a 100m3 block-model to quantify the results from hole 072 and 9 legacy holes within a 925-825m asl [above sea level] 100m3 block, resulting in an indicated resource of 114,907oz au, based on 1,234,530t @ 2.895g/t au; this being an illustration of the high yield from a single 100m3 block subject to high-grade mineralization.

Since then I extended the 100m3 block model to encompass all the data relevant to APTA and can confirm that the indicated resource based on my estimations now totals 2,342,717oz [troy] au, from 25.07M tonnes @ 2.61g/cm3 [sp.g. of assay samples] a total for which a 20% + or – error margin would be appropriate. In addition there is an estimated 8.613M tonnes of siliceous breccia ore, within the zones designated as 'high-grade' in the various cross-sections, for which there is no assay-data indicative of grade values. The data-points and calculations on which this is based are far too numerous to detail here. However, a total of 29, 100m3 blocks contributed to the total au resource, and 6 blocks to the additional ore-tonnage total.

To be continued

Continuation:

In the 20.10.2024 post I estimated the potential resource on the basis of the hydrothermal breccia [150 x 250m in outcrop x 100m depth] being mineralised throughout @3g/t Au [as in hole 01] as being 8,250,000 tonnes at 2.2sp.g [= sp.g of ANZA siliceous mineralised breccia] which at 3g/t Au equates to 873,000oz Au. With subsequent drilling suggesting a more restricted area of mineralisation and depth constraints to the east, the indicated resource is now lower but has potential for increase to the SW & SE.

Input of data into a 3D model based on a 50m block grid allows the resource to be quantified within 6 x 50cu.m units between 1000-950m asl [above sea level] plus a 1 x 50cu.m block at 950-900m asl to include the deeper part of hole 01, the only hole to intercept significant mineralisation below 50m vertical depth. The 7 blocks incorporate a maximum potential resource of 1,925,000 tonnes at 2.2sp.g, which with 5 blocks averaging c3g/t Au and 2 blocks at c6g/t gives a total indicated resource of 261,914oz Au.

The impending assays from holes 16 &17 are understandably awaited with interest as potential indicators of high-grade extensions to the SW at depth which could add significantly to the indicated resource. However the c262K oz Au, almost all from surface to c50m depth, is alone a considerable asset in view of the very low extraction costs. The ongoing drill program should reinforce that conclusion.

AGEOS

NB My thanks to TheFoocare for your WSBN acknowledgement, without which I would probably not have compiled this contribution. Good to know my efforts are understood and not just 'recommended' and then ignored.

Since my last post, dated 20.10.2024, regarding Pepas, renewed drilling and consequent reinterpretations of the geological structure and lithostratigraphy allow for a significant reappraisal of the resource potential at this prospect. Assays from the four holes PEP-012 -015 have intercepted several zones of high-grade [7-14g/t Au] mineralisation within a structural setting substantially different from that previously deduced on the basis of understandably limited field data.

The predominant mineralisation [one of the probable three phases] is now evidenced as having an approximate SE-NW “trend” [as defined in RNS] which, if the greatly revised lithostratigraphic map [Figure 3, RNS 02.12.2024] is accepted, cuts across the lithostratigraphic strike [c40 degrees ie SW-NE] of the volcanoclastic host rocks. Intercepts in holes 13.14 & 15, indicate two parallel zones of high grade Au, highly siliceous [SiO2 quartz] mineralisation within a lower grade envelope, suggestive of ingress via minor lateral faults from a deeper source.

The “basement fault” intercepted in all three holes, and in hole 16 [ assay pending] is a post-mineralisation age structure and a low angle major thrust, probably with considerable lateral displacement and consequently imposing a significant limitation to any eastern and in-depth extension of the resource. An earlier lithostratigraphic map [page 9, 06.12.2022 Presentation] on which my 20.10.2024 post was based, showed the inferred prospect as bounded to E & W by thick zones of “mylonite”, a very distinctive rock-type indicative of the high-energy crush zones of major thrust faulting. It will be interesting to see if the eastern mylonite is the surface outcrop of the “basement fault” as the latter appears to be inclined to the W or SW at a low angle, and if the initial 23.5m of hole 15 corresponds to the western mylonite.

To be continued.

For those who have expressed interest in a PEPAS update from me, I should be able to oblige when results from hole 16 are reported. I am adding data from the current drill program to a 3D model and reassessing the structural and mineralogical interpretations, as and when released by RNS.

In the meantime, the estimation by Canadian KilconaVC, posted by Remington on 13th Dec @ 15.03, of 284K oz Au from 6 holes and 1.767m/t of ore, is a feasible total from what is a very small portion of the potential prospect, although the metrics on which it is based are questionable. On the other hand, Kilcona's account of a possible link between the Nevado Del Ruiz volcano and the ash-tuff host rocks, quoted today at 06.00, is totally baseless. The host rocks at PEPAS and most other gold finds in the Cauca Belt are Barrosa Formation volcano-clastics formed around 88-86m years ago and therefore cannot have any causal relationship with the present-day N D Ruiz volcano. 12 recommendations for this opening 'howler' I see.

AGEOS

Seingred, thanks for your response and associated comments. A more analytical approach always welcome. OMI is subject to Canadian Institute of Mining [CIM] standards [not JORC standards] by way of their incorporation into NI 43-101 “Standards of Disclosure for Mineral Projects” which can be accessed via the link below.

https://mrmr.cim.org/media/1128/cim-definition-standards_2014.pdf

The differences between Inferred, Indicated and Measured Resource and between Probable and Proven Mineral Reserve are described in pages 5-8, with some indication of the factors involved in upgrading from one category to the next. Best you refer to the source rather than a summary from me. On the other hand,your request for an account of “the steps needed to progress through these stages to give an idea on timescales and the level of investment needed” unfortunately requires a level of detail way beyond the capacity of a chatboard. It would be equivalent to a component of a 2-year Masters degree in Mining Geology.

For example, in estimating the Indicated Resource of 2.342M oz Au for APTA, I evaluated the available data as being sufficient to allow “a confident interpretation of the geological structure and to reasonably assume the continuity of mineralisation”, a stated requirement within the NI 43-101 Standards for qualification as an Indicated Resource and without which it would have to be categorised as an Inferred Resource. Also the Pepas resource of 873,000oz Au, I would categorise as an Inferred Resource as the drilling to date is insufficient for confident understanding of structure and assumption of continuity of mineralisation. To make such evaluations and categorisations you require the expertise and experience of a Structural Geologist and I cannot transmit that via this or any other chatboard even if you wanted to suffer as much.

As regards comparisons with other companies for the purpose of enhancing investment decisions, I've rarely found it of value as every company and every project is unique and the variables so many that objective comparison seems impossible anyway. I may however disclose a comparison which could have a significant influence on the future of OMI in Colombia but will await the webinar and maybe an RNS or two, for further evidence of direction, before posting on that issue.

Best of luck to you and all. And 'luck' is a factor as it is a component of Bayesian statistical evaluation of mineral exploration practices and projects, expressed in probabilities.

The 30.09.2024 RNS re a “Share Placing” included the following comment from the CEO “The funds will be used to progress our ANZA Project, in particular a drilling program at Pepas and the engagement of external consultants to examine the potential of calculating a Mineral Resource Estimate at APTA.”

Note: the intent to “examine the potential” regarding APTA. It does not mean that an MRE will necessarily be commissioned since the examination may result in the conclusion that there is insufficient data or that it would be otherwise inappropriate to proceed to an MRE at this stage or in the circumstances prevailing at the time. By then results from drilling at Pepas may have influenced the priorities. It is however a prudent precursor prior to commissioning an MRE.

Having applied industry standard calculations to produce the indicated resource posted on 02.02.2023, I am aware of the structural and other complexities of the APTA prospect, and of the limitations of the bore-hole data in complying with Canadian NI 43-101 Mining Project disclosure standards. As outlined in that post, my structural model is based on 35 x 100m3 blocks of which 29 blocks contributed to the MRE of 2.342,717 oz Au, the remaining 6 blocks with an estimated 8.6M tonnes of ore having insufficient assay data for conversion to MRE status. Furthermore, two of the 29 blocks [C4b & C6d of my model] contain 876,238oz Au, a third of the total MRE, indicating a high-grade 200m3 core 120-220m to 250-350 below ground level and 800-1000m above sea-level, which could be the target for a selective initial NI 43-101 compliant MRE.

BG is a QP [Qualified Person] as defined by NI 43-101[Canadian regulations defining such] so has the status to commission an MRE based on his own judgement. The decision to commission consultants to “examine the potential” for an MRE is probably a reflection of the structural geological complexity of APTA as I've indicated above, such that BG feels an independent assessment is required.

AGEOS.

For those who wish to know how the 873.000oz Au RE for Pepas is calculated.

Firstly calculate the resource volume. As the mineralised stockwork was intercepted at or near surface to approximate 100m depth [vertical depth not down-hole depth] and the hydrothermal breccia which hosts it is shown on geological maps as outcropping over an area of approximately 150 x 250m, the maximum stockwork resource within those parameters has a volume of 3,750,000cu m. It may of course extend beyond 100m depth but probably not beyond c200m since at least one of the W to E holes is inferred to have passed below the stockwork at slightly greater depth [2 of the 5 planned holes will test for stockwork below 100m depth]. The stockwork may also extend into a laterally displaced portion of breccia, faulted to the NW but if it does, PEP003 & PEP009 missed it. None of the 5 planned holes will test for that possible extension.

Secondly calculate the resource tonnage. The similarly mineralised quartz-veined “siliceous breccia” from APTA has a specific gravity of 2.2, therefore resource tonnage ie volume of 3,750,000cu m x 2.2sp g is 8,250,000 metric tons.

Thirdly calculate the Au resource. At an average of 3g/tAu that is 24,750,000g which at 28.349g per oz equates to 873,000oz Au.

A resource estimation cannot be more simple than this but still has merit far beyond that of guesswork as the criteria on which calculations are based are clearly defined and understood, Further drilling will inevitably lead to refinement of such calculations, resulting in a significant reduction if the mineralised stockwork proves to be of limited extent within the breccia host or is of lower average Au grade, or a possible increase if proven to extend below 100m depth or to be supplemented by a high-grade vein system.

AGEOS

Continuation:

I also noted BG's description in the Presentation of “an outcrop the size of a table.....from which samples came back at 10-90g/t Au” and suggested this might be indicative of very localised supergene enrichment. Here I should emphasise that supergene enrichment, which is produced by circulating groundwater, is often not good news in mining circles as it implies the possibility of very localised concentrations of metals and corresponding depletion from elsewhere. At Pepas there is however an alternative explanation for localised high Au grades, This possibility arises from the OMI LinkedIn post of 04.10.2024 which included a Section View and reference to previously undisclosed “high grade samples from artisanal tunnels” [presumably at least 2 tunnels since a Tunnel B is shown on the section], and to the 02.12.2022 RNS page 3 reference to the quartz sheeted-vein stockwork being the youngest of three vein systems likely to have different orientations. Artisanal tunnelling is invariably in response to surface outcrop of visibly gold rich quartz veins, which together with SB's 10-90g/t Au outcrop and the 8m @ 20.67g/t Au from the surface channel shown on the Section, suggest the possibility of a second, older high Au-grade quartz vein system at Pepas. The 5-hole drill program will, in part at least, be testing for that possibility.

High grade mesothermal-epithermal quartz vein systems are amongst the 'crown jewels' of Colombian gold prospects with those of the Segovia Mines 195km NE of Medellin and of Marmato 80km SW the most notable. The Segovia veins average around 1.2m in thickness and are up to 2km along strike and similarly down-dip, with average Au grades of 11.6 to 14.3 g/t. Most significantly the veins appear to have originated from mineralisation associated with diorite and andesite intrusive magmas percolating adjacent fault systems. A geological map of the Pepas region [ref page 15, of 08.09.2022 Presentation] shows several andesite intrusions and an extensive diorite intrusion adjacent to the target area, with associated fault and two vein systems. Any evidence from the imminent 5-hole drill program of such a high-grade vein system would be a significant addition to the c3g/t stockwork mineralisation.

AGEOS

On 28.07.2024, as part of an “ANZA update”, I included information regarding the Pepas target which had been included in the Mining Investor OMI presentation and a brief BG interview with Chris Cann. In particular I mentioned that pages 59-62 of the Presentation related to Pepas and that this plus data from other sources had enabled construction of a structural model of the geology, from which the extent of the mineralisation could be estimated.

I described this mineralisation as being apparently “confined to a stockwork of quartz veins within a hydrothermal breccia, hosted within a pyroclastic/volcanic sequence with a N-S strike, inclined at c70degrees W” and “The breccia has an outcrop dimension of 150-250m and a depth of at least 100m as determined by PEP100” and concluded that “These metrics and the reported 150m @ 3g/t Au from surface in PEP100 are sufficient to provide some indication of the potential resource, which is modest at best.”

In view of subsequent chatboard speculation as to the potential resource at Pepas, and anticipated near-term drilling renewal, I can add that the above metrics provide the basis for a calculation of 8,250,000 tonnes of mineralised breccia at 2.2sp.g. [ref Sept 2018 Presentation re ANZA siliceous breccia] which at 3g/t Au equates to 873,000oz Au. I also noted that “The planned 5 hole drill program as shown in presentation slide page 62 is to test the extent of the mineralised stockwork within the breccia host with drill-hole depths of c150m and less”. So those drill cores with either confirm the metrics on which the above is based or require a down-sized recalculation.

To be continued

ST-Inv, re the SPA contract reference to AIM approval, if I understand the legal provisions correctly, since OMI's primary registration is as Orosur Mining Inc, in Canada, the TSXV approval takes legal precedent, from which AIM 'approval' automatically follows. Expressed another way; TSXV listing is primary and AIM listing is secondary, so approval from the former leads to presumptive approval from the latter.

ST-Inv & MM12, thanks for yesterday's responses. Re the 'Execution Version' of the SPA Contract, note that although not listed in the 'Contents' there is an easily overlooked map, C-2 pp 61, of the MMA Applications for Mineral Concessions, showing the locations and extent of the licences I listed on 30.09.2024. If successfully acquired, some at least could be an additional or target incentive for involvement of a potential JV partner.

MM12 re your query concerning the “completion timeline” for the MMA Share Purchase Agreement. This is inherent in the contract documentation I referred to on 30.09.2024, in part in Article 3 re “Closing” and elsewhere through the 30+ page text. No dates are given of course but now that TSXV have waived the possible requirement of shareholder approval, for which the contract allowed 90 days plus possible extension, the remaining “terms and deferred consideration” should already be well advanced, 37 days having so far elapsed since contract agreement. Every item within the “terms” is defined in the Contract and for many there is a “three day” response time limit on both parties in the transaction so speed of execution is built in throughout, presumably at OMI's insistence. The final “closing procedure” is by simultaneous electronic transfer between seller and buyer, and I anticipate will be within the next two weeks.

Yesterday, Oct 15, was the 'Record Date' for the AGM & Special Meeting due to be held in London on Nov 21. The 'Record Date' triggers release to Registered Shareholders of 'The Management Information Circular' [MIC] relating to voting as per statutory requirements at the AGM, and if applicable, to the Special Meeting also. I anticipate publication of the MIC within a few days.

If the TSXV require shareholder approval of the Share Purchase Agreement [SPA] between OMI and Minera Monte Aguila [MMA] re ANZA, that would have to be in the form of a vote as part of the Special Meeting and would be detailed in the MIC. Absence of such a vote would imply that TSXV do not require one and that the SPA will be closed imminently.

That the AGM & SM were brought forward to Nov 21st, from Dec 19th last year, suggests that OMI were anticipating a swift approval of the SPA.

AGEOS.

Subsequent to the RNS of 10.09.2024 regarding the Share Purchase Agreement [SPA] of Minera Monte Aguila [MMA] by OMI, there was some chatboard speculation as to what the reference to “new applications for licences” might refer to. In response I posted, on 11.09.2024, details of areas to the south of ANZA within the vicinity of the Oribella mineral system which might have been the subject of discussion between Newmont and Outcrop S & G [formerly Miranda Gold], and which could be amongst the “new licence applications”. I also referenced the Exploration Agreement between Newmont and Miranda by which Newmont had surveyed the area from Buritica south to ANZA, as being a possible source of data on which licence applications by MMA might have been based.

It is now possible to confirm, via the Agencia Nacional de Mineria Colombia [ANM], that the above suppositions were largely correct and that on completion of the SPA, Orosur will acquire an additional c18,000 HA of licence applications outside the ANZA municipality thereby doubling the area of its total potential licence interests in Colombia. In summary, there are 3 adjacent licence areas on the border between the Betulia and Armenia municipalities 5-10km SE of ANZA; 2 licences, one of which is 4580 HA in extent, on the borders between the Concordia and Titiribi municipalities, c15-30km south of ANZA; and 11 licences in the Caicedo and Santa Fe de Antioquia municipalities to the N of ANZA, including an 8577 HA area just south of Buritica. These 11 licences are clearly the result of the Newmont 2019-20 BLEG [Bulk Leach Extractable Gold] Lyra/Pantagora survey, which I highlighted at the time. There are also 2 MMA licence applications for small areas in NE ANZA municipality.

Although there is substantially more data available relating to these areas and scope for informed assessment of their mineralogical potential, I shall add nothing more at this stage, if at all, as from previous experience it would appear to be a waste of time and effort.

Also, those “in the know” will be aware of the “Execution Version” of the MMA Share Purchase Agreement, which for those who can navigate 30+ pages of contract legalese, provides indications of the answers to questions regarding the schedule leading to final completion. Tempting as it is to disclose that information and propose conclusions, I suggest that anyone who does have access to that document, please reflect on the “Confidentiality” clause [9.2a] which might have relevance to 'disclosure' by a third party. However responsible your 'disclosure', every fool on the planet has access to these chatboards and can misrepresent whatever you post.

Today's raise appears to conform to the schedule.

AGEOS.

Remington re your post of yesterday, 24th Sept 2024 at 21.35 it has been brought to my attention that you have copied part of paragraph 4 of my post of 07.07.2024 regarding the APTA resource, without acknowledgement of the source, thus implying that the contents including the resource calculations are your own. The latter conclusion appears to be compounded by a post from MaisieMoo12 at 07.26 today.

This is an infringement of UK copyright law, which applies equally online as it does in print, and appears to be blatant plagiarism.

I have, on the LSE EEE chatboard, given the right to two posters to copy my EEE posts to ADVFN with appropriate acknowledgements and welcome them doing so. No such delegated rights exist here. To correct the situation it would be courteous to resubmit your post, amended to include due acknowledgement of the source you are quoting from ie “AGEOS post dated 07.07.2024”, and contact LSE to remove the offending original.

Compliance with the above will require no further action from me, and both you and anyone else will be welcome to quote on this LSE OMI chatboard from any other posts of mine, with of course, appropriate acknowledgement.

AGEOS.

Speculation as to what the RNS reference to “ a number of new applications for licences” included in the ANZA Acquisition, might refer to, prompts me to re-post the following extracts from a 06.04.2023 post on the same subject, which may be of relevance:

The Dec 2022 Investor Presentation includes the following note relating to “Anza – leases and applications”, “Several new applications on southern margin may be added.”

Since the most southerly targets, APTA, Roble [Charrascala], Cedro [Guaimarala] and Aster, are all within areas for which applications have already been granted, this reference to “new applications” must refer to areas still further south. Intriguingly, the area immediately to the south includes the Oribella prospect on which I posted details as far back as 19.12.2018.

In a SEDAR filing dated 30.11.2022 Outcrop Silver & Gold Corp refers to Oribella as

“Adjoining Orosur Mining Inc Anza Project, which contains the APTA vein deposit and the Charrascala porphyry-epithermal anomalies. The APTA structures are inferred to project onto Oribella. The Oribella mineral system appears to include epithermal veins and replacements superimposed on a large breccia and basalt hosted 'wall-rock' gold and copper porphyry system.”

On the basis of an Exploration Agreement which Miranda Gold [Outcrop S & G] had with Newmont, for the latter to survey the area from Buritica south to ANZA, it seems highly likely that Newmont would also have been in discussions with Outcrop regarding the future of Oribella. The addition of Oribella to the ANZA targets would therefore appear to be a possibility, although its acquisition would require an agreement with Outcrop which still retains the licence and is seeking a partner. The RNS reference to “new applications” also does not necessarily relate of course only to licence areas to the south of ANZA but could include those to the west [Guintar & Margaritas], which are anticipated to be relinquished by Royal Road.

AGEOS.

Continuation:

Other features arising from the Coorow survey may be of significance to EEE in relation to the copper mineralisation along the western boundary of Pitfield so any further investigations by Enterprise in that respect will also be of interest.

In short, whilst the Pitfield TiO2 Project unfolds and remains paramount, EEE strategy could still include exploitation of other resources within what is still a relatively unexplored mineral province.

AGEOS

Continuation:

Assuming the testwork leads to parallel processing of both ore types, it is market demand which will determine the range and relative quantities of products to be produced from each of the ore-type processing facilities, and relative product demand will determine the quantities of ore required. From available evidence, that demand is likely to support a three-tier strip mining operation on a single site, probably the most cost effective form of extraction possible since there is no overburden other than topsoil required for restoration. Also as already suggested, the transition zone 'ore' could be subject to an off-take agreement. The depth to which the titanite-rich bedrock ore is mined will be determined primarily by relative demand for ore and by operational constraints. As a general rule the relative volume of the two ores required must correspond to the relative volume of the processed products required by the market, so it is only if there is a significant disparity between the product demands that a separate mining operation would be required. That would be so only if product demand from the anatase ore substantially exceeds that from the titanite ore.

Since the development program discussed here will take at least eighteen months to unfold it should be borne in mind that this relates to only two [E70/5465 & a small part of E70/5874] of the four Pitfield licences and that licence tenure is subject to minimum work requirements if they are to be retained beyond the five year initial allocation period, Whilst the Titanium Project will be paramount and will clearly surpass the work requirement for the two relevant licences, the potential for other mining prospects within what is now recognised as an emerging Mineralogical Province will also be under consideration. In an 11.04.2024 post I briefly referred to the other two licences, E70/6320 in the north, and E70/6323 in the south, both acquired by EEE in late 2022, as extending into the newly recognised West Yilgarn Ni-Cu-PGE [Platinum Group Elements] Mineral Province. The on-going development of SR Resources Three Springs Ni-Cu-PGE Project to the NE of Pitfield and of Chalice Mining's Barrabarra Ni-Cu-PGE Project to the SE, will have relevance to EEE's possible exploration of those two additional licences. Likewise for the currently active exploration by Enterprise Metals Ltd of the E70/5999 Coorow Licence which extends in a 40 x 10km strip SSE from the SW boundary of Pitfield. Interpretation of a recent magnetic-radiometric aerial survey of 80% of the licence area appears to show southerly continuation of the Yandanooka sedimentary rock sequence as a progressively thinning wedge east of the Mullingarra basement gneiss, although that does not necessarily mean continuation of the sandstone lithology and the associated TiO2 mineralisation.

To be continued