EQ Resources Limited announced the results of additional four diamond holes from the Phase 2 2022 drilling campaign targeting the Western Extension. The drilling showed the existence of a significant size high-grade mineralised system emerging 150m west of the Mt Carbine BFS Pit remaining open along strike and at depth. Hole EQ030 drilled from the hilltop at Mt Carbine targeted the depth extension of a high-grade intercept in historical Hole CB064 (5.59m @ 2.49% WO3 contained within a broader 10.68m @ 1.32% WO3 zone) located a large structural jog system with multiple high-grade King Veins.

The strength of this system combined with those in Hole EQ031 highlight zones that rival the open pit high-grade zones. Hole EQ030 at 5.51m @ 3.20% WO3 contained within the broader 18.24m @ 1.00% WO3 zone, has the highest per meter tungsten (WO3 contained) intersected outside the BFS Pit being 10-times the grade of the Open Pit Ore Reserve as reported (0.33% WO3). Holes EQ032 & EQ033 were above the main mineralised level being at the 330-350m RL mark with the zone reflected as narrower more separated veins, i.e. intercepts of 0.13m @ 1.03% WO3, 0.29m @ 0.53% WO3 and 0.33m @ 1.33% WO3 were intersected.

At a level 100m below these intercepts the mineralisation widens and veins come together.