EQ Resources Limited Annual Report 2023

The Blast Hole Drill Program will use two rigs and over the first 12 months of operations it is planned to drill approximately 12,790 holes for 134,000m of blast hole drilling and load 1,010 tonnes of emulsion explosives. Typically, a full blast will be a 325- hole and 2.5m x 2.5m pattern for approximately 60,000t per blast. Currently EQR has booked a regular weekly blast with Orica Ltd who will supply the explosives to site. Orana rigs working on the holes for the first calibration blast. Exploration Tenements Mt Carbine Exploration Tenements al workings within EQR’s exploration tenements, Figure 22 - Regional and historical Tungsten and Tin workings relative to Mt Carbine. On a regional scale, there are over 50 locations with historical workings within EQR’s exploration tenements, which have reported tungsten or tin mineralisation. RC Control Drilling with Orana Both Orana Drill and Blast Pty Ltd (“Orana”) and Golding began mobilisation to site during the last quarter of the 2023 financial year, with the first blast occurring on 24 June 2023. The blast was planned on a 228 -hole pattern for 42,000 tonnes which was a small blast for calibration of blasting parameters in the restart of open pit mining operations. Operating and Financial Review continued 38 EQ Resources Limited Annual Report 2023

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