Targets and Future Exploration As part of its Stage 3 Drilling Program EQR plans to continue drilling westwards to add valuable resources in areas that could potential make it into future reserves. The diagram below shows the area that remains to be drilled within the Stage 3 Pit extension. Currently 43%of this pit extension remains undrilled. Drill plans show 2,500m of drilling will infill this zone into Indicated Resource. Strike Extent Mineralisation Mapping and Geophysics of the Mt Carbine deposit has shown there are vein packages similar and parallel to the Mt Carbine Open Pit package. These have been referred to as the Iron Duke Package (Dazzler, Talis & Crown Veins) and the Daisy Package (Daisy and True Blue Veins). The narrow surface exposure of the veins is now known to be a function of the RL of the zone (+400m RL) and they are expected to blossom into more productive tungsten zones between 200-350m RL. A 25 x 25m grid soil program and ground magnetic program is being undertaken to cover the three tungsten package zones described above. Figure 8: Pit Extension. Figure 9: Ground TMI Geophysics drapped on topography. Currently under interpretation. EQ Resources Limited Annual Report 2022 25
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