Picture above: The Barruecopardo Mine Open Pit as at March 2025 looking north, with ongoing progressive rehabilitation of the waste dumps near the water dams on the front left. Phase Development and Pit Advancements During the year, mining activity focused primarily on Phase 5 in the Central and Southern Zones, where operations advanced down to the 560RL bench. This zone provided a steady supply of ore with stable grades, forming the backbone of plant feed for much of FY2025. Meanwhile, in Phase 6 (Northern Zone), development works advanced to the 690RL, ahead of schedule. This opened up new ore horizons and created additional flexibility for ore blending across multiple pit zones. The northern cutbacks also enabled improved ramp design and traffic flow, reducing haulage distances and cycle times while unlocking earlierthan-planned access to fresh mineralised horizons. Picture above: Resource Block Model of the Phase 5 Ore production zone at the end of FY2025 in the Southern Area of the Open Pit, main target of the Phase 5. Red is high grade, orange low grade and light blue very low grade. EQ Resources Limited Annual Report 2025 43
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