Mt Holmes – EPM 14871 An initial survey at Mt Holmes tin project revealed over 30 massive quartz veins across the tenement at right angles to a major feldspar porphyry dyke swarm. 82 rock chip samples of these veins did not reveal any major mineralisation but minor marginal zones of tin were identified. The remainder of the license will be explored this field season commencing in July 2023. Wolfram Camp, QLD EQR has taken a significant step forward by being selected as the preferred tenderer for resource exploration activities encompassing the Wolfram Camp Mine and its surrounding areas (refer ASX Announcement ‘EQR Award Permit for Historic Wolfram Camp Mine’ dated 27 July 2023). This strategic move is aimed at evaluating the economic feasibility of re-commissioning this historical site. Covering a substantial 477km2 RA442 license area, which includes the Wolfram Camp Mine and the promising Bamford Hill advanced exploration target within the Herberton Tin-Tungsten field, this permit offers immense potential. With access to approximately 5 million tonnes of Low-Grade Stockpile and Tailings material containing valuable resources like Tungsten, Molybdenum, and Bismuth, EQR plans to conduct a comprehensive regional assessment, employing soil and geophysical programs to unlock the area’s hidden potential. This initiative aligns perfectly with EQR’s critical mineral hub growth strategy and dovetails with the Queensland Government’s Critical Minerals Strategy and Resources Industry Development Plan, aimed at revitalising former mines. Acquiring the Wolfram Camp permit not only expands EQR’s asset portfolio in the Herberton Tin-Tungsten field but also positions the Company to contribute significantly to the global supply chain for critical minerals. The rich historical legacy and promising geological attributes of the Wolfram Camp site make it a potential cornerstone in fulfilling this visionary objective. resourcing the new economy for a better tomorrow “The re-commercialisation of Wolfram Camp is a key action of the Queensland Resources Industry Development Plan. Queensland has many of the critical minerals needed to make the renewable energy technologies the world needs for a net zero emissions future. That’s why we have now also released the Queensland Critical Mineral Strategy, which will oversee $245 million of investment into growing this sector in Queensland. Part of the Strategy will focus on supporting companies looking to extract critical minerals from waste and tailings at existing and former mines. This tender will not only create more good jobs for the region but helps us meet the challenge of leading the world towards a decarbonised future,” commented Stewart. Unlocking the Mining Potential of Wolfram Camp 60 kilometres south of the Company’s operating Mt Carbine Tungsten mine, the Wolfram Camp mine represents a unique opportunity for EQR to revitalise a historic mining region that was once a major source of critical minerals, including Tungsten and Bismuth. With this EPM, the Company has secured access to assess a 477km² RA442 license area, hosting key targets, the Wolfram Camp mine itself, and the Bamford Hill advanced exploration target. Figure 1: Tender award area indicated in yellow. Figure 3: Gravity plant at Wolfram Camp. Figure 2: Wolfram Camp forms part of the regional tungsten cluster and critical mineral hub. Figure 4: Waste dump size at Wolfram Camp. Figure 5: Waste dump size at Wolfram Camp. Figure 23: Left, Tender Area indicated in yellow - Right, Wolfram Camp, Watershed and Mt Carbine form part of the regional tungsten cluster and critical mineral hub. Wolfram Camp mine is located 60 kilometres south of the Company’s operating Mt Carbine Tungsten Mine and represents a unique opportunity for EQR to revitalise a historic mining region that was once a major source of critical minerals, including Tungsten and Bismuth. With this EPM, the Company has secured access to a 477km2 RA442 license area, hosting key targets, the Wolfram Camp Mine itself, and the Bamford Hill advanced exploration target. NSW Exploration Tenements Sozo Resources has successfully completed the ,Stage 1 Farm-In Conditions and has elected to proceed to Stage 2 Farm-In, providing Sozo the exclusive right to earn a 49% legal and beneficial interest in the Joint Venture Gold Property, subject to expenditure of $750,000 in exploration being spent by 3 August 2024. Planned exploration activities include drilling beneath historic workings at the Telephone Line Prospect and exploring a newly identified gold in soil anomaly along strike from Telephone Line (Panama Hat Project). Historic rock chip samples at the Telephone Line Prospect returned high-grade gold, including sample PH0018 with 22.1g/t gold from ferruginous quartz vein mine spoils. At the Crow Mountain Project, the focus will be on drilling IP chargeability anomalies near the Peel Fault and the Princess Mine area. A recent rock chip sample CMRC025 at Crow Mountain returned 4.9g/t gold on the eastern margin of an IP chargeability anomaly. Further analysis of 23 drill pulps from the historic ICK001 drillhole has been submitted for a complete Rare Earth Element analysis. EQ Resources Limited Annual Report 2023 39
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