Summary

Mine Type	Open Pit & Underground
Study Completed	Preliminary Economic Assessment
Study in Progress	Prefeasibility
Commodities	Copper Gold
Mining Method	Truck & Shovel / Loader Longhole open stoping Sub-level stoping
Backfill type	...
Project Timeline	...
Mine Life	...
Snapshot	The Greater Duchess Copper Gold Project Scoping Study, dated May 30, 2024, contemplates open pit and underground mining of three deposits - Nil Desperandum, Lady Fanny and Mount Hope. The Third Party Processing offers the best outcome and is the selected base case for the Scoping Study. The Greater Duchess PFS is progressing on all fronts, with significant work programs undertaken and ongoing relating to the integration of the recently acquired Trekelano deposits, including core drilling for metallurgical and geotechnical works and subsequent open pit optimisation and design engineering. Permitting, baseline, mining, and civil engineering studies are in progress.

Deposit type

• ISCG
• IOCG

Summary:

Copper Gold mineralisation at Greater Duchess can be broadly classified as a variant of the Iron Oxide Copper Gold (IOCG) style group of mineral deposits. Mineralisation at Greater Duchess appears to be more characteristic of structurally controlled Iron Sulphide Copper Gold (ISCG) in origin and similar in style to deposits such at Osborne and Eloise. Magnetite and K Feldspar alteration halos are commonly seen in the Greater Duchess deposits.

The Greater Duchess Copper Gold Project Scoping Study contemplates open pit and underground mining of three deposits - Nil Desperandum, Lady Fanny and Mount Hope. All three discoveries remain strongly open down plunge and will continue to grow with ongoing drilling which is in progress.

Mount Hope
The Mount Hope deposit is an iron oxide copper gold (IOCG) type deposit. Two distinct deposit areas have been identified at the project – Mount Hope Central and Mount Hope North. Both had minor historic open pit mining in the outcrop positions. Primary mineralisation is characterised by semi-massive and disseminated chalcopyrite-pyrite-pyrrhotite sulphides within multiple sub-parallel lenses largely confined to well defined quartz vein horizons within the regionally extensive biotite schist country rock. The largest of these have strike lengths of 200m to 300m, are 20m to 30m thick and defined over dip lengths exceeding 500m.

Weathering at the deposit is limited to narrow zones of oxide and transitional material restricted within the mineralised zones. While limited in strike length, the weathering extends up to 400m in depth and is characterised by mixed primary and secondary sulphides in the transitional zone. The oxide and transitional mineralisation were defined and interpreted by Carnaby using drill hole logs. These were used to define oxide, transitional and fresh material types in the deposit.

The Mineral Resource Estimate is reported at 0.5% copper equivalent (CuEq) cut-off above 250mRL (220m vertical depth) and 1.0% CuEq below 250mRL to reflect the potential for open pit mining in the upper part of the deposit and the potential for underground mining in the deeper portion.

Lady Fanny
The Lady Fanny deposit is an iron oxide copper gold (IOCG) type deposit. Mineralisation is localised in a series of sub-parallel, anastomosing and steeply dipping shear zones and is characterised by stringer and disseminated chalcopyrite-pyrite sulphides. Tabular mineralised zones vary from 2m to 30m in thickness with strike lengths of the individual lodes varying from 200m to 500m.

The Lady Fanny deposit is an iron oxide copper gold (IOCG) type deposit. Mineralisation is localised in a series of sub-parallel, anastomosing and steeply dipping shear zones and is characterised by stringer and disseminated chalcopyrite-pyrite sulphides. Tabular mineralised zones vary from 2m to 30m in thickness with strike lengths of the individual lodes varying from 200m to 500m.

Weathering at the deposit is limited to a zone of partial oxidation typically 5-20m in depth. The Mineral Resource Estimate is reported at a 0.5% CuEq cut-off grade and above 200mRL (220m-260m vertical depth) to reflect the potential for open pit mining in the upper part of the deposit.

Nil Desperandum
The Nil Desperandum deposit is an iron oxide copper gold (IOCG) type deposit. Mineralisation is characterised by semi-massive and disseminated chalcopyrite-pyrite-pyrrhotite sulphides within an elongate pipe shaped breccia extending down plunge for at least 1000m. The structure has a known dip length of 250m to 350m, is up to 40m thick and is open at depth. A distinct sulphide breccia zone characterised by semi-massive sulphides and elevated gold grade occurs as an internal shoot in the central area of the deposit which has a down plunge extent of 420m.

Weathering at the deposit is limited to a zone of partial oxidation typically 15-20m in depth. The Mineral Resource Estimate is reported at 0.5% copper equivalent (“CuEq”) cut-off above 180mRL (220m vertical depth) and 1.0% CuEq below 180mRL to reflect the potential for open pit mining in the upper part of the deposit and the potential for underground mining in the deeper portion.

Trekelano
The mineralisation at Trekelano is characterised by chalcopyrite and pyrite gangue sulphides and that no pyrrhotite has been observed anywhere in the alteration or mineralisation.

The Inheritance mineralisation is characterised by a large shear corridor that is 50-100m wide and has been multiply deformed and altered. Alteration consists of strong hematite-k feldsparchalcopyrite-pyrite. Very little magnetite has been observed to date in the alteration assemblage.

Mining Methods

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Comminution

Crushers and Mills

Processing

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Commodity Production

Operational metrics

Metrics
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Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Jan 16, 2026