Flanagan Bore

Flanagan Bore is located 2 hours’ drive NE of Newman in the Pilbara region of Western Australia and is prospective for manganese.

The Project contains both 100% owned and Carawine JV tenements (where the Company is earning a 75% interest).

Since listing in 2021, Flanagan Bore has been the Company’s flagship project, with a maiden Mineral Resource of 15Mt @ 11.3% Mn defined in October 2021, based on historic drilling at the LR1 prospect.

Manganese mineralisation is contained within shallow dipping and open folded sequences of manganese rich Balfour shales.

Over nine high priority targets have been identified by the Company within the Carawine JV tenure.

In December 2021, the Company completed 168 reverse circulation (RC) holes for 5,569 metres at the LR1, FB3 and FB1 prospects.

At LR1, the drilling confirmed thick zones of high-grade manganese mineralisation, including:

• FBRC035 – 35m @ 11.7% Mn & 9.4% Fe from surface,
  • 15m @ 14.7% Mn & 9.7% Fe from 10m
• FBRC044 – 40m @ 11.0% Mn & 8.2% Fe from surface until EOH,
  • 10m @ 17.4% Mn & 9.6% Fe from 15m
• FBRC022 – 23m @ 11.7% Mn & 8.9% Fe from surface
  • 4m @ 14.6% Mn and 7.6% Fe from surface
• FBRC030 – 30m @ 12.1% Mn & 9.3% Fe from 11m
• FBRC023 – 22m @ 11.0% Mn & 9.4% Fe from surface

Mineralisation has been extended to the south by 600m, with the total mineralised area extended to 1,000m x 800m.

An updated mineral resource estimate is planned to be released in H1 2022.

Assays are awaited for the drilling at FB3 and FB1.