Mineral Resources

Mt Edwards Project Mineral Resources

The Mt Edwards Project represents one of the largest known unmined nickel sulphide Mineral Resource in Australia, currently comprising 13.164 Mt at 1.45% Ni for 190,300 nickel tonnes. Importantly it is in a renowned nickel region hosting a number of significant producing mines and with downstream processing infrastructure nearby. The BHP Kambalda concentrator is located approximately 40km to the north-east of the Mt Edwards Project. However, the attributes and close proximity of the deposits also presents the opportunity for a standalone nickel concentrator at the Project.

Table 1 – Nickel Mineral Resource estimates for the deposits comprising the Mt Edwards Project

  Indicated Inferred Total Mineral Resources
Deposit Tonnes
(kt)
Grade
(% Ni)
Tonnes
(kt)
Grade
(% Ni)
Tonnes
(kt)
Grade
(% Ni)
Contained
(t Ni)
132N 34 2.9 426 1.9 460 2.0 9,050
Armstrong 949 1.45 10 1.04 959 1.44 13,820
Cooke - - 154 1.3 154 1.3 2,000
Gillett 2,267 1.35 871 1.16 3,138 1.30 40,770
Inco Boundary - - 464 1.2 464 1.2 5,590
McEwen - - 1,133 1.4 1,133 1.4 15,340
McEwen Hanging Wall - - 1,916 1.4 1,916 1.4 26,110
Mt Edwards 26N - - 871 1.4 871 1.4 12,400
Munda - - 508 1.85 508 1.85 9,400
Widgie 3 512 1.34 222 1.95 734 1.53 11,200
Widgie Townsite 1,649 1.60 853 1.38 2,502 1.53 38,260
Zabel 272 1.94 53 2.0 325 2.0 6,360
Total 5,683 1.48 7,480 1.42 13,164 1.45 190,300

Notes:

  1. All Resources reported at 1.0% Ni cut-off except for Gillett and Armstrong are reported at 0.7% Ni cut-off Tonnes and grades have been rounded to reflect the relative uncertainty of the estimates.
  2. Refer to the WIN Metals ASX announcements dated 9 January 2024 titled 'Substantial Uplift to Gillett Mineral Resource and 13 December 2023 titled 'Armstrong Mineral Resource Update'.

Table 2 – Lithium Mineral Resource estimates for the Faraday-Trainline Lithium Project

Deposit

Classification

Tonnes (t)

Li2O (%)

Fe (%)

Li2O (t)

Faraday

Measured

          550,000

0.75

1.24

        4,100

Indicated

          250,000

0.66

1.73

        1,600

Inferred

          220,000

0.61

2.22

        1,400

Sub Total

       1,020,000

0.70

1.57

        7,100

Trainline

Measured

-

-

-

-

Indicated

          780,000

0.69

1.59

        5,300

Inferred

          160,000

0.63

1.66

        1,000

Sub Total

          940,000

0.68

1.60

        6,300

Total

Measured

          550,000

0.75

1.24

        4,100

Indicated

       1,020,000

0.68

1.62

        7,000

Inferred

          390,000

0.62

1.98

        2,400

Total

       1,960,000

0.69

1.59

      13,500

Notes:

  1. Maiden Resource Proves Up Faraday DSO Starter Pit Opportunity 29/03/2023 Li2O unit comparison
  2. 0.85% Li2O cut-off
  3. Reporting 0.30% Li2O cut-off grade above 310mRL, 0.5% Li2O cut-off grade below 310mRL
  4. Tonnes and grades have been rounded to reflect the relative uncertainty of the estimate

Competent Person statements

The information in this Website that relates to Exploration Results is based on, and fairly represents, information compiled and conclusions derived by Mr William Stewart who is a Member of the Australian Institute of Metallurgy and Mining (member no 224335). Mr Stewart is a full time employee of WIN Metals Ltd. Mr Stewart has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a ‘Competent Person’ as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code).

Compliance statement

Exploration Results and estimates of Mineral Resources in this Website have been prepared and reported in accordance with the JORC Code.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified form the original market announcements.