Grants Basin Iron Ore Project

• SIMEC funded drilling program to test the Grants Basin concept (ASX announcement of 16 Oct 2018)
• 1 RC/DD & 12 RC holes completed for 4,005 m
• Western end targeted, interpreted shallow cover
• Significant thicknesses of iron bearing sequence intersected over an area of 3.5 km2 (ASX announcement of 4 Dec 2018)
• Thickest downhole interval of 488 m @ 24.57% Fe in GBDD014 (est 450 m true width) (ASX announcement of 25 June 2019)
• < 30% of basin area tested to date with wide spaced holes
• Initial Exploration Target estimate (ASX announcement of 5 April 2019)

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