Mineral Resources

A 364,000 ounce Mineral Resource has been defined at the Grant Gold project. In addition, Felix has established two new gold Exploration Targets

After an extensive due diligence, a maiden Mineral Resource Estimate (JORC, 2012) for the historical Grant Mine was completed in June 2021. A table outlining the Mineral Resource Estimate is contained below.

Further to this, Felix has reported Exploration Targets (JORC, 2012) for the Grant Mine and Liberty Bell gold project.

For the latest information on our Exploration activities, please view our ASX Releases, Corporate Presentations and Projects pages.

Grant Mine – Mineral Resource Estimate

*The preceding statements of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. Due to rounding to appropriate significant figures, minor discrepancies may occur, all tonnages reported are dry metric. Mineral Resource estimates are not precise calculations, and the reported estimate is dependent on the interpretation of limited data pertaining to the location, shape, continuity of the mineralisation and the quality and quantity of the samples of the mineralisation. Mineral Resources that are not Ore Reserves do not have demonstrated economic viability. No processing recovery factors, or other modifying factors have been applied to these resource figures. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant modifying factors. Effective date of 30 June 2021

The defined resource is contiguous, and by virtue of its grade and geometry, should be considered as a Mineral Resource. As such, the CP (Mr Ian Taylor of Mining Associates) considers that the reported Mineral Resource has reasonable prospects for eventual economic extraction by open pit mining methods, and Mineral Resources below the pit depth are considered at a higher cut off to reflect the higher cost of underground mining methods.

Grant Mine – Exploration Target

An Exploration Target (JORC 2012) of 5.6 Mt to 6.6 Mt at a grade of 1.9 g/t Au to 2.1 g/t Au for 338,000 ounces to 545,000 ounces of gold was independently estimated by CP Mr Ian Taylor of Mining Associates for the Grant Mine based on a proposed exploration program. The Exploration Target is an extrapolation of the Grant Mineral Resource. The target sits outside of the current Mineral Resource reported above and has been extrapolated along the strike extent of known veins to the lease boundary. The Ethel Elms, O’Dea, and Lois veins were extended to a maximum depth of 300 m, 500 m and 50 m below surface respectively. A density of 2.65 t/m3 (same as resource estimation) was used. The Exploration Target was estimated by extending the estimated resource volumes and grade along strike. Grade ranges were determined using alternate estimation techniques during validation of the resource model.

The potential quantity and grade of this Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Liberty Bell – Exploration Target

An Exploration Target (JORC 2012) of 1.2 Mt to 1.83 Mt grading between 2.3 g/t Au and 2.66 g/t Au for 93,500 ounces to 156,700 ounces of gold was independently estimated by CP Mr Ian Taylor of Mining Associates for the Liberty Bell Skarn Deposit based on a proposed exploration program. The exploration target is wholly contained within 150 m of surface and is considered as a potential open pittable material.

The potential quantity and grade of this Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

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