Key Tenements Granted & New Ground Staked at Eromanga Basin Heavy Mineral Sands Project 

The identification of this previously unrecognised opportunity for HMS in the Eromanga Basin near William Creek is a new and potentially high-impact opportunity for shareholders. Low-cost air-core drilling is scheduled to commence later this year on the first set of drill targets.

Building on the previously unrecognised exploration space, our team has quickly deployed machine learning tools, reviewed historical data sets, and added four prospective tenements by staking open ground. Further desktop review and low-cost boots-on-the-ground reconnaissance are highly effective in building a pipeline of prospective targets at the Company’s new Eromanga Basin HMS Project.

Work on our NSW Cu-Au Projects is ongoing with a small infill gravity survey on the Byrock Project due to be completed shortly to finalise high-priority drill targets.

We have also submitted grant applications for co-funding of drilling and geophysics costs to the NSW Government for both the Byrock and Theseus Projects. The NSW Government will announce its decisions on 30 September.

I am very pleased to see the back half of the year shaping up to be drill-ready on multiple targets for in-demand commodities Cu, Au, Ti and Zircon.