Preparatory works for Phase 7 commenced late in the Financial Year, with initial pushback and bench establishment at the 705–710RL levels. The east ramps for Phase 7 Pit outline have been initiated, which will connect the eastern slope with the access ramps from Phase 5 and Phase 6 leading to the waste dump. This phase is designed to provide continuity of ore supply over the medium term and will be critical for maintaining production stability as deeper benches in Phase 5 are progressively mined out. Picture above: The Eastern pit slope of the Barruecopardo Open Pit , blue arrows showing the ramps in Phase 7. The east ramps for Phase 7 Pit outline have been initiated, which will connect the eastern slope with the access ramps from Phase 5 and Phase 6 leading to the waste dump. Operational Improvements and Cost Savings A key initiative during FY2025 was the successful trial of 10-metre bench blasting. This marked a shift from the historical 5-metre approach, delivering significant benefits in reduced drilling and blasting costs, estimated at AU$0.16 per tonne saved across the trial campaign. In addition, improved fragmentation and more stable pit walls were observed, validating this method for broader application in future phases. The improved blasting approach also contributed to smoother downstream handling, reducing equipment wear and haulage inefficiencies. Pictured: A 10-metre bench face with the mineralised zones marked. EQ Resources Limited Annual Report 2025 45
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