Between 1981 and 1994, approximately 5.1 Mt of gold ore was treated at an average head grade of 5.1 g/t gold producing over 700,000 ounces of gold at a recovery of 84.2%. The gold tailings were isolated from the nickel tailings and deposited initially in the South dam and then the North dam from 1988. The North dam contains approximately 80% of the gold tailings tonnage. A minor proportion of gold tailings was deposited on top of the Central dam to assist with capping the nickel tailings prior to rehabilitation of the Central dam.

Poseidon is considering development of the Windarra Gold Tailings Project, which comprises the Windarra Gold Tailings Mineral Resource contained within the North and South tailings dams (Windarra) and the Lancefield Gold Tailings Mineral Resource contained on License To Treat (LTT) tenement 700-3709 (Lancefield). The Mineral Resource comprises 4.75 Mt at the Windarra North and South dams at an average grade of 0.73 g/t gold and 1.21 Mt at Lancefield at an average grade of 1.27 g/t gold, all classified as Indicated resources. There is a total of approximately 161,000 ounces of gold contained within the Project Mineral Resource at Indicated classification. The Project also has access to an additional 0.38 Mt at an average grade of 1.20 g/t gold at Lancefield currently classified as an Inferred resource. With additional resource definition drilling it is considered likely this material would be reclassified to an Indicated resource also.

Reclamation of gold tailings from the North and South dam of the decommissioned Windarra TSF by hydraulic mining methods for processing, including the introduction of the Lancefield gold tailings via mechanical mining and haulage (via road train) from Lancefield to Windarra.

Description
Production is expected to begin at Lancefield which will be conventionally mined using a front-end loader over a 9-month period. The Lancefield tailings will be hauled using triple (or quad) road trains to Windarra for processing. Subject to the mining method option selected, the Lancefield tailings will either be side-tipped into a raised landform excavated trench (Hydraulic Mining option) or side-cast atop of the northern perimeter wall of the Windarra North dam (Amphibious Dredging option). The tailings will then be pumped to a conventional 1.5 Mt per annum Carbon-In-Pulp (CIP) gold processing plant to recover the gold and silver.

Once mining of the Lancefield tailings is complete, the Windarra North and South dams will be reclaimed over a 36-month period and pumped to the CIP gold processing plant. The reprocessed tailings would be pumped through a pipeline approximately 17 km long and deposited into the disused South Windarra Pit. The South Windarra Pit contains over 23 Mm3 of saline water that will be utilised as the main water supply for the Project.

Final tailings storage is proposed to be within the disused South Windarra Pit. Detailed solute tra ........

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