Pre-concentration and downstream processing test work continues with further results expected in the March and June
quarters 2019. On receipt of assay data, updated geological models will be compiled and an updated resource for
Lilyvale released.
Both the test work results and the new resource models will enable commencement of a PFS and estimation of Ore
Reserves. The PFS may include production rate analysis, flow sheet design, initial estimates of capital and operating
costs and product sales analysis.
The JV has purchased a 75 acre parcel of land at Richmond to facilitate the potential requirement for a pilot plant should
a decision be made to move forward. The land is located in close proximity to the Flinders Highway, railway siding and
the 66Kv power line providing infrastructure and services for the study.