ASX:SRX

SIERRA RUTILE HOLDINGS PTY LTD

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Current Area 1 Operations

Sierra Rutile is currently undertaking a work program to convert Mineral Resources to Ore Reserves in order to extend the Area 1 life of mine plan.

Mine Life Extension Program

The Pejebu and Ndendemoia deposits, comprising Indicated Mineral Resources of 18.6Mt at 1.0% rutile grade for 0.18Mt of contained rutile and 18.3Mt at 1.0% rutile grade for 0.18Mt of contained rutile respectively, are located less than 5km south of the MSP within the Mining Lease. Subject to completing the technical and operational planning activities required to convert Pejebu and Ndendemoia Indicated Mineral Resources to Ore Reserves, mining at Pejebu and Ndendemoia will be considered following completion of mining activities at Gbeni and Lanti.

A mine life extension work program has commenced to support the conversion of Indicated Mineral Resources to Ore Reserves at Pejebu and Ndendemoia, including:

The 2022 drill program focusses on collecting metallurgical and geo-metallurgical data and improving Mineral Resource confidence as part of the ongoing LOM program

The work program is scheduled to be complete by mid 2023.