Kharmagtai consists of multiple co-genetic goldrich porphyry copper centres and tourmaline breccia pipes occurring within the Carboniferous Kharmagtai Igneous Complex. The Kharmagtai Igneous Complex consists of a series of intrusive bodies ranging between diorite through monzodiorite, quartz-monzodiorite to monzonite and granodiorite compositions.

There are three styles of mineralisation at Kharmagtai; porphyry style stock work Cu-Au mineralisation, tourmaline breccia style Cu-Au mineralisation and epithermal gold associated with carbonate base metal veins.

The Resource models are well understood and there is substantial upside potential to be realised by better understanding the economics of the deposit. As demonstrated in the images, significant volumes of mineralisation have been modelled that fall outside of the constraining wire frames on figures.

These parts of the model will be targeted for further investigation through economic studies to assess if more of this material can be brought into the Mineral Resource.

The operation is configured as an open pit mine to achieve the highest value, lowest cost, lowest complexity, and most rapid development option. The Scoping Study assumes an owner-operator model for mining operations.

Mine planning is based on 10m benches consistent with the current resource model. Optimisation of the Selective Mining Unit including bench height will be addressed in the PFS. Grade control will be undertaken from sampling of blasthole cuttings assayed in the on-site laboratory.

The Scoping Study assumed mining will be a conventional drill, blast, load and haul operation. The primary mining fleet comprises 550t diesel hydraulic shovels loading 220t capacity haul trucks as a well-proven, flexible and efficient match suited to the planned scale of operations. Supplemental primary loading capacity and stockpile reclaim will be provided by 20m3 capacity wheel loaders.

For this Scoping Study assessment, no additional estimate was made for mining dilution and loss due to the gradational nature of the deposit. It was also assumed that with this style of mineralisation the geological model incorporates some level of dilution.

The mine would include open pits at the Stockwork Hill, White Hill, Copper Hill, Zephyr and Golden Eagle deposits. Most of the resource is in the White Hill and Stockwork Hill deposits and these two pits eventually merge into a super pit.

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