Mineral Resource inventory of approximately 470,000 ounces of gold, 16.2 million ounces of silver and 177,000 tonnes of zinc from ore located at Fountain Head, Glencoe and the Hayes Creek VMS deposits (Mt Bonnie and Iron Blow).

Fountain Head
Mineralisation occurs in veins as either conformable anticlinal lodes (with flanking mineralisation) or subvertical structurally hosted (“ladder vein style”) mineralisation associated with faults and shears sub-parallel to the fold axis, and is found within interbedded mudstones, greywackes and phyllite units. Sheeted quartz vein stock-works occur mainly in the axial zone (hinge zone) with veins predominantly dipping northeast, and some saddle reefs occur in the axial zone. Increased grades encountered at Fountain Head are thought to result from secondary deformation of the Fountain Head anticline. Gold is associated with quartz veining containing a pyrite-arsenopyrite sulphide assemblage and coarse gold is not uncommon.

The following key structural settings appear to control gold mineralisation at Fountain Head:

- The structurally controlled system of mineralised quartz veins appears largely restricted to the southwestern limb and hinge zone of the Fountain Head Anticline. Mineralisation is preferentially hosted in greywacke and sandstone units;
- Subvertical faults or shears subparallel to fold axial planes;
- Vein infill in dilatant zones in the apex of small-scale anticlinal folds associ ........

Each of the MREs at Fountain Head, Mt Bonnie and Glencoe were processed via Pseudoflow optimisation to identify the economic pit shells. Final pit shell selection utilised for guiding the pit design process was also based on evaluating upside potential for further resource expansion through exploration drilling and conducting sensitivities on gold price.

Sequential management of mining, water and tailings management for stage 1 has been modelled and is proposed to occur in the following order:
1. Rehandle, transport and processing of Mt Bonnie stockpile;
2. Open-pit mining and processing of Mt Bonnie oxide and transitional ore;
3. Open-pit mining and processing of Glencoe gold ore;
4. Mt Bonnie and Glencoe tailings to be co-disposed within the Fountain Head waste stockpile;
5. Open-pit mining and processing of Fountain Head gold ore;
6. Fountain Head tailings to be co-disposed within the Fountain Head waste stockpile and other available void space e.g., Glencoe.

Fountain Head
The existing open-pit will be cutback and extended in a northwest direction, deepening the existing pit by approximately 90m. Mining will occur by way of conventional drill and blast mining techniques using standard mining equipment including 125-200t excavators and 90-100t off-highway haul trucks.

The mining sequence at each site will consist of:

• Clearing, levelling and stockpiling of any topsoil and sub-soils for later u ........

- subscription is required.

The PFS confirms the technical and economic viability of a staged development approach, to construct a low capital and operating cost carbon-in-leach gold plant (Plant) and infrastructure capable of treating 750ktpa with a capacity potential of 900ktpa. Near-surface oxide and free-milling gold & silver ore from three open-pit mines at Fountain Head, Mt Bonnie and Glencoe and will be processed over an initial 5 year period (Stage 1).

Subsequent to the treatment of the currently defined oxide gold and silver resources in Stage 1, the Plant will be upgraded to incorporate a sulphide flotation circuit capable of processing the Hayes Creek high-grade gold-silverzinc massive sulphide ores into two valuable product streams, a zinc concentrate and a precious metals concentrate (Stage 2). The concentrates will be trucked to the Port of Darwin and then shipped to international markets for sale and smelting and refining.

Process Flow
The cyclone overflow discharges acr ........