# AX8: Rock Chips to 59.6% Mn Along Underexplored 12km Trend Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03153902 Publisher: asx Original announcement: 2026-10-18T22:41:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-18T23:19:28.129Z Atlas analysis updated: 2026-10-18T23:19:28.129Z - Company: Accelerate Resources Limited - Ticker: AX8 - Exchange: ASX - Region: Western Australia - Primary commodity: Manganese - Secondary commodities: Iron ore, Silica, Aluminium, Phosphorus, Loss on ignition - Document categories: Other, Drill results, Resource update - Extracted: 2026-10-18 23:19:28 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Accelerate Resources Limited has reported high-grade manganese rock chip results, up to 59.6% Mn, from the Faris and newly identified Sea Turtle prospects within its Woodie Woodie North Manganese Project in Western Australia. These results confirm the prospectivity of an underexplored 12km mineralised corridor, with low iron impurities noted at Faris. The company plans to commence discovery drilling at Gingarrigan and further define targets at Faris and Sea Turtle, building on historical drill intercepts and a previously reported Inferred Mineral Resource Estimate. Reasoning: Accelerate Resources has reported exceptional high-grade manganese rock chip results, including a new discovery at Sea Turtle, along an underexplored 12km corridor at its Woodie Woodie North project. While these are early-stage surface samples, they indicate significant potential and warrant follow-up drilling, despite the historical drilling being limited and the current MRE being stale and inferred. - Positive factor: High-grade manganese rock chip results up to 59.6% Mn, exceeding exceptional thresholds. - Positive factor: Discovery of new manganese outcrops at Sea Turtle prospect. - Positive factor: Confirmation of prospectivity along an underexplored 12km corridor. - Positive factor: Low iron impurities noted in Faris samples. - Positive factor: Proximity of new discoveries to existing Area 42 deposits and infrastructure. - Negative factor: Rock chip samples are selective surface samples and may not be representative of subsurface mineralization. - Negative factor: Historical drilling was shallow, vertical, and limited, with unknown true widths and undocumented QA/QC. - Negative factor: The Mineral Resource Estimate is a restatement of a prior estimate from 2023, making it stale and 100% Inferred. - Negative factor: No new drill results are reported in this announcement. Facts used in scoring: 91 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: Faris rock chip samples returned manganese grades up to 59.6% Mn, which is well above the 50% threshold for exceptional manganese. Evidence · text > Faris Prospect returned high grade manganese of 53.9% to 59.6% Mn across 4 sample sites **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The document reports newly identified manganese outcrops at the Sea Turtle Prospect and discusses a new discovery along an underexplored 12km corridor. Evidence · text > Sea Turtle Prospect comprises two newly identified manganese outcrops **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The JORC Table 1, Section 1, details that rock chip samples were analyzed by ALS Geochemistry using XRF, and the laboratory used appropriate standards and blanks for QA/QC. Evidence · text > Rock chip samples were dispatched to ALS Geochemistry in Wangara, WA for analysis... The laboratory used appropriate standards and blanks as part of the analysis for QA/QC. **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: For historical drill holes, the document explicitly states that 'There is insufficient data to estimate true widths'. Evidence · text > There is insufficient data to estimate true widths. **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: For historical samples, the document states that 'Assay methods and QA/QC for historic samples are not fully documented'. Evidence · text > Assay methods and QA/QC for historic samples are not fully documented and historic results are considered indicative only. **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The historical drill results are from 1996, and the MRE is a restatement of a November 2023 estimate, both of which are not new information. Evidence · text > Historic shallow vertical rotary air blast \(RAB\) drilling completed by Valiant Consolidated in 1996 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: All categories in the Mineral Resource Estimate are classified as Inferred. Evidence · table > Inferred Context: 0.04 **All Inferred** Polarity: negative Definition: 100% of resource is Inferred category — very early stage, no engineering confidence. Why it applies: The entire Mineral Resource Estimate is comprised solely of Inferred resources. Evidence · table > Inferred Context: 0.04 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Mineral Resource Estimate is reported as JORC 2012 compliant. Evidence · text > JORC 2012 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Ms Felicity Hughes, a Member of AIG and AusIMM, is named as the Competent Person responsible for the Mineral Resources Statement. Evidence · text > The Mineral Resource Statement as a whole has been approved by Ms Hughes, who is an independent consultant at ERM Ltd who was engaged by Accelerate Resources Ltd and is a Member of the Australian Institute of Geoscientists \(AIG\) and the Australasian Institute of Mining and Metallurgy \(AusIMM\). **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The Mineral Resource Estimate explicitly states a 15% Mn cut-off. Evidence · text > Mineral Resources reported at cut-offs of 15% Mn **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The Mineral Resource Estimate has an effective date of November 2023, making it over two years old at the time of this October 2026 announcement. Evidence · text > The Woodie Woodie North Project inferred mineralisation estimate is based on the November 2023 MRE \(JORC 2012\) reported on the 30th November 2023 ## Extracted facts Stored fact records: 31. Some facts used in scoring do not have a stored record. ## Drill Results (6) ### BX46 [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-drill-facts-60) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Hole ID: BX46 - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AX8 #### Geometry - Grade: 39.1 - Grade Unit: % - Intercept: 3 m - From: 0 m - To: 3 m - Hole Depth: 9 m - Intercept Depth: 0 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BX46:0-3 - Mining Method: open\_pit #### Location - Location: Faris - Easting: 290491 - Northing: 7667069 - CRS: GDA2020 MGA Zone 51 - EPSG: 28351 - Elevation: 241 m - Azimuth: 0 ° - Dip: -90 ° - Loc. Confidence: low - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1996-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This historical drill intercept shows a strong manganese grade from surface, supporting the prospectivity of the Faris area, though it is old data with limited QA/QC and unknown true width. - Positive factor: Strong manganese grade \(39.1% Mn\) well above the 30% threshold for strong manganese. - Positive factor: Shallow mineralization from surface. - Negative factor: Historical result from 1996, not new information. - Negative factor: Vertical drill hole, which may not represent true width. - Negative factor: QA/QC for historic samples is not fully documented. - Negative factor: Limited hole depth \(9m\). Evidence · table > 3m @ 39.1% Mn from 0m Context: BX46 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The project covers 432 km² of highly prospective Proterozoic sediments and incorporates seven mapped large scale mangane" ### BX47 [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-drill-facts-61) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Hole ID: BX47 - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AX8 #### Geometry - Grade: 26.1 - Grade Unit: % - Intercept: 5 m - From: 0 m - To: 5 m - Hole Depth: 12 m - Intercept Depth: 0 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BX47:0-5 - Mining Method: open\_pit #### Location - Location: Faris - Easting: 290500 - Northing: 7667059 - CRS: GDA2020 MGA Zone 51 - EPSG: 28351 - Elevation: 241 m - Azimuth: 0 ° - Dip: -90 ° - Loc. Confidence: low - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1996-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This historical drill intercept shows a moderate manganese grade from surface, supporting the prospectivity of the Faris area, though it is old data with limited QA/QC and unknown true width. - Positive factor: Moderate manganese grade \(26.1% Mn\) above the 20% threshold for moderate manganese. - Positive factor: Shallow mineralization from surface. - Negative factor: Historical result from 1996, not new information. - Negative factor: Vertical drill hole, which may not represent true width. - Negative factor: QA/QC for historic samples is not fully documented. - Negative factor: Limited hole depth \(12m\). Evidence · table > 5m @ 26.1% Mn from 0m Context: BX47 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The project covers 432 km² of highly prospective Proterozoic sediments and incorporates seven mapped large scale mangane" ### BX48 [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-drill-facts-62) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Hole ID: BX48 - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AX8 #### Geometry - Grade: 28.4 - Grade Unit: % - Intercept: 11 m - From: 1 m - To: 12 m - Hole Depth: 15 m - Intercept Depth: 1 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BX48:1-12 - Mining Method: open\_pit #### Location - Location: Faris - Easting: 290505 - Northing: 7667055 - CRS: GDA2020 MGA Zone 51 - EPSG: 28351 - Elevation: 241 m - Azimuth: 0 ° - Dip: -90 ° - Loc. Confidence: low - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1996-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This historical drill intercept shows a moderate manganese grade over a significant length from shallow depth, supporting the prospectivity of the Faris area, though it is old data with limited QA/QC and unknown true width. - Positive factor: Moderate manganese grade \(28.4% Mn\) above the 20% threshold for moderate manganese. - Positive factor: Significant intercept length \(11m\). - Positive factor: Shallow mineralization from 1m depth. - Negative factor: Historical result from 1996, not new information. - Negative factor: Vertical drill hole, which may not represent true width. - Negative factor: QA/QC for historic samples is not fully documented. - Negative factor: Limited hole depth \(15m\). Evidence · table > 11m @ 28.4% Mn from 1m Context: BX48 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The project covers 432 km² of highly prospective Proterozoic sediments and incorporates seven mapped large scale mangane" ### BX49 [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-drill-facts-63) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Hole ID: BX49 - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AX8 #### Geometry - Grade: 18.2 - Grade Unit: % - Intercept: 3 m - From: 0 m - To: 3 m - Hole Depth: 15 m - Intercept Depth: 0 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BX49:0-3 - Mining Method: open\_pit #### Location - Location: Faris NW - Easting: 290274 - Northing: 7667255 - CRS: GDA2020 MGA Zone 51 - EPSG: 28351 - Elevation: 229 m - Azimuth: 0 ° - Dip: -90 ° - Loc. Confidence: low - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1996-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This historical drill intercept shows a weak manganese grade from surface, supporting the prospectivity of the Faris NW area, though it is old data with limited QA/QC and unknown true width. - Positive factor: Weak manganese grade \(18.2% Mn\) above the 10% threshold for weak manganese. - Positive factor: Shallow mineralization from surface. - Negative factor: Historical result from 1996, not new information. - Negative factor: Vertical drill hole, which may not represent true width. - Negative factor: QA/QC for historic samples is not fully documented. - Negative factor: Limited hole depth \(15m\). Evidence · table > 3m @ 18.2% Mn from 0m Context: BX49 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The project covers 432 km² of highly prospective Proterozoic sediments and incorporates seven mapped large scale mangane" ### BX50 [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-drill-facts-64) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Hole ID: BX50 - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AX8 #### Geometry - Grade: 13.2 - Grade Unit: % - Intercept: 1 m - From: 3 m - To: 4 m - Hole Depth: 11 m - Intercept Depth: 3 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BX50:3-4 - Mining Method: open\_pit #### Location - Location: Faris NW - Easting: 290271 - Northing: 7667260 - CRS: GDA2020 MGA Zone 51 - EPSG: 28351 - Elevation: 227 m - Azimuth: 0 ° - Dip: -90 ° - Loc. Confidence: low - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1996-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This historical drill intercept shows a weak manganese grade over a narrow interval, supporting the prospectivity of the Faris NW area, though it is old data with limited QA/QC and unknown true width. - Positive factor: Weak manganese grade \(13.2% Mn\) above the 10% threshold for weak manganese. - Negative factor: Historical result from 1996, not new information. - Negative factor: Narrow intercept length \(1m\). - Negative factor: Vertical drill hole, which may not represent true width. - Negative factor: QA/QC for historic samples is not fully documented. - Negative factor: Limited hole depth \(11m\). Evidence · table > 1m @ 13.2% Mn from 3m Context: BX50 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The project covers 432 km² of highly prospective Proterozoic sediments and incorporates seven mapped large scale mangane" ### BX26 [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-drill-facts-65) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Hole ID: BX26 - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: australia\_wa - Ticker: AX8 #### Geometry - Grade: 10.4 - Grade Unit: % - Intercept: 3 m - From: 2 m - To: 5 m - Hole Depth: 11 m - Intercept Depth: 2 m #### Classification - Program: exploration - Sample Type: drill - Group ID: BX26:2-5 - Mining Method: open\_pit #### Location - Location: Sea Turtle - Easting: 293355 - Northing: 7663580 - CRS: GDA2020 MGA Zone 51 - EPSG: 28351 - Elevation: 209 m - Azimuth: 0 ° - Dip: -90 ° - Loc. Confidence: low - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 1996-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This historical drill intercept shows a weak manganese grade from shallow depth, supporting the prospectivity of the Sea Turtle area, though it is old data with limited QA/QC and unknown true width. - Positive factor: Weak manganese grade \(10.4% Mn\) above the 10% threshold for weak manganese. - Positive factor: Shallow mineralization from 2m depth. - Negative factor: Historical result from 1996, not new information. - Negative factor: Vertical drill hole, which may not represent true width. - Negative factor: QA/QC for historic samples is not fully documented. - Negative factor: Limited hole depth \(11m\). Evidence · table > 3m @ 10.4% Mn from 2m Context: BX26 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The project covers 432 km² of highly prospective Proterozoic sediments and incorporates seven mapped large scale mangane" ## Resource Estimates (25) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-66) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:98e65acd0402da1fdd68 - Deposit or zone: Area 1 #### Resource Data - Category: inferred - Tonnes: 40000 - Grade: 17.2 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Area 1 shows a weak manganese grade, but its low confidence category and stale effective date limit its current materiality. - Positive factor: Weak manganese grade \(17.2% Mn\) above the 10% threshold for weak manganese. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 17.2 Context: 0.04 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-67) Woodie Woodie North · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:98e65acd0402da1fdd68 - Deposit or zone: Area 1 #### Resource Data - Category: inferred - Tonnes: 40000 - Grade: 14.6 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The iron content of 14.6% in the Inferred Resource for Area 1 is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high iron content \(14.6% Fe\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 14.6 Context: 0.04 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-68) Woodie Woodie North · silica Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: silica - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:98e65acd0402da1fdd68 - Deposit or zone: Area 1 #### Resource Data - Category: inferred - Tonnes: 40000 - Grade: 25.8 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The silica content of 25.8% in the Inferred Resource for Area 1 is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high silica content \(25.8% SiO2\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 25.8 Context: 0.04 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-69) Woodie Woodie North · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:98e65acd0402da1fdd68 - Deposit or zone: Area 1 #### Resource Data - Category: inferred - Tonnes: 40000 - Grade: 2.2 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The aluminium content of 2.2% in the Inferred Resource for Area 1 is low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Low aluminium content is generally favorable for ore processing. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 2.2 Context: 0.04 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-70) Woodie Woodie North · phosphorus Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: phosphorus - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:98e65acd0402da1fdd68 - Deposit or zone: Area 1 #### Resource Data - Category: inferred - Tonnes: 40000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The phosphorus content of 0.1% in the Inferred Resource for Area 1 is very low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Very low phosphorus content is beneficial for manganese ore quality. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 0.1 Context: 0.04 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-71) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:2a49f3f651c0fd8c8007 - Deposit or zone: Area 3 #### Resource Data - Category: inferred - Tonnes: 300000 - Grade: 17.5 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Area 3 shows a weak manganese grade, but its low confidence category and stale effective date limit its current materiality. - Positive factor: Weak manganese grade \(17.5% Mn\) above the 10% threshold for weak manganese. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 17.5 Context: 0.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-72) Woodie Woodie North · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:2a49f3f651c0fd8c8007 - Deposit or zone: Area 3 #### Resource Data - Category: inferred - Tonnes: 300000 - Grade: 20.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The iron content of 20.1% in the Inferred Resource for Area 3 is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high iron content \(20.1% Fe\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 20.1 Context: 0.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-73) Woodie Woodie North · silica Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: silica - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:2a49f3f651c0fd8c8007 - Deposit or zone: Area 3 #### Resource Data - Category: inferred - Tonnes: 300000 - Grade: 27.9 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The silica content of 27.9% in the Inferred Resource for Area 3 is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high silica content \(27.9% SiO2\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 27.9 Context: 0.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-74) Woodie Woodie North · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:2a49f3f651c0fd8c8007 - Deposit or zone: Area 3 #### Resource Data - Category: inferred - Tonnes: 300000 - Grade: 3 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The aluminium content of 3.0% in the Inferred Resource for Area 3 is low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Low aluminium content is generally favorable for ore processing. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 3.0 Context: 0.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-75) Woodie Woodie North · phosphorus Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: phosphorus - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:2a49f3f651c0fd8c8007 - Deposit or zone: Area 3 #### Resource Data - Category: inferred - Tonnes: 300000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The phosphorus content of 0.1% in the Inferred Resource for Area 3 is very low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Very low phosphorus content is beneficial for manganese ore quality. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 0.1 Context: 0.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-76) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:88319e7745cae406ee30 - Deposit or zone: Area 4 #### Resource Data - Category: inferred - Tonnes: 200000 - Grade: 16.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Area 4 shows a weak manganese grade, but its low confidence category and stale effective date limit its current materiality. - Positive factor: Weak manganese grade \(16.1% Mn\) above the 10% threshold for weak manganese. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 16.1 Context: 0.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-77) Woodie Woodie North · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:88319e7745cae406ee30 - Deposit or zone: Area 4 #### Resource Data - Category: inferred - Tonnes: 200000 - Grade: 21.8 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The iron content of 21.8% in the Inferred Resource for Area 4 is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high iron content \(21.8% Fe\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 21.8 Context: 0.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-78) Woodie Woodie North · silica Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: silica - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:88319e7745cae406ee30 - Deposit or zone: Area 4 #### Resource Data - Category: inferred - Tonnes: 200000 - Grade: 34 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The silica content of 34.0% in the Inferred Resource for Area 4 is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high silica content \(34.0% SiO2\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 34.0 Context: 0.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-79) Woodie Woodie North · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:88319e7745cae406ee30 - Deposit or zone: Area 4 #### Resource Data - Category: inferred - Tonnes: 200000 - Grade: 2.3 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The aluminium content of 2.3% in the Inferred Resource for Area 4 is low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Low aluminium content is generally favorable for ore processing. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 2.3 Context: 0.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-80) Woodie Woodie North · phosphorus Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: phosphorus - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:88319e7745cae406ee30 - Deposit or zone: Area 4 #### Resource Data - Category: inferred - Tonnes: 200000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The phosphorus content of 0.1% in the Inferred Resource for Area 4 is very low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Very low phosphorus content is beneficial for manganese ore quality. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 0.1 Context: 0.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-81) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:4147e58e42e158890e37 - Deposit or zone: Area 42 #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 20.7 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: This Inferred Mineral Resource for Area 42 shows a moderate manganese grade and represents the largest individual tonnage, but its low confidence category and stale effective date limit its current materiality. - Positive factor: Moderate manganese grade \(20.7% Mn\) above the 20% threshold for moderate manganese. - Positive factor: Largest tonnage of the individual areas. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 20.7 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-82) Woodie Woodie North · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:4147e58e42e158890e37 - Deposit or zone: Area 42 #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 15.6 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The iron content of 15.6% in the Inferred Resource for Area 42 is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high iron content \(15.6% Fe\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 15.6 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-83) Woodie Woodie North · silica Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: silica - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:4147e58e42e158890e37 - Deposit or zone: Area 42 #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 35.6 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The silica content of 35.6% in the Inferred Resource for Area 42 is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high silica content \(35.6% SiO2\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 35.6 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-84) Woodie Woodie North · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:4147e58e42e158890e37 - Deposit or zone: Area 42 #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 3.3 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The aluminium content of 3.3% in the Inferred Resource for Area 42 is low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Low aluminium content is generally favorable for ore processing. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 3.3 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-85) Woodie Woodie North · phosphorus Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: phosphorus - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:4147e58e42e158890e37 - Deposit or zone: Area 42 #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The phosphorus content of 0.1% in the Inferred Resource for Area 42 is very low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Very low phosphorus content is beneficial for manganese ore quality. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 0.1 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-86) Woodie Woodie North · manganese Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: manganese - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:da673c2016787e7179f6 - Deposit or zone: TOTAL #### Resource Data - Category: inferred - Tonnes: 1200000 - Grade: 19.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The total Inferred Mineral Resource for Woodie Woodie North shows a weak manganese grade over 1.2 Mt, but its low confidence category and stale effective date limit its current materiality. - Positive factor: Weak manganese grade \(19.1% Mn\) above the 10% threshold for weak manganese. - Positive factor: Total tonnage of 1.2 Mt. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 19.1 Context: 1.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-87) Woodie Woodie North · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: iron\_ore - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:da673c2016787e7179f6 - Deposit or zone: TOTAL #### Resource Data - Category: inferred - Tonnes: 1200000 - Grade: 17.6 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The total iron content of 17.6% in the Inferred Resource for Woodie Woodie North is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high iron content \(17.6% Fe\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 17.6 Context: 1.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-88) Woodie Woodie North · silica Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: silica - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:da673c2016787e7179f6 - Deposit or zone: TOTAL #### Resource Data - Category: inferred - Tonnes: 1200000 - Grade: 33.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The total silica content of 33.1% in the Inferred Resource for Woodie Woodie North is relatively high, which could negatively impact the manganese ore quality. - Negative factor: Relatively high silica content \(33.1% SiO2\) could be a penalty for manganese ore. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 33.1 Context: 1.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-89) Woodie Woodie North · aluminium Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: aluminium - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:da673c2016787e7179f6 - Deposit or zone: TOTAL #### Resource Data - Category: inferred - Tonnes: 1200000 - Grade: 3 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The total aluminium content of 3.0% in the Inferred Resource for Woodie Woodie North is low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Low aluminium content is generally favorable for ore processing. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 3.0 Context: 1.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ax8-rock-chips-to-59-6-mn-along-underexplored-12km-trend--8977ff44-ab40-480f-8706-335a770b6d61#fact-resource-facts-90) Woodie Woodie North · phosphorus Historical result Needs review: historical\_restatement #### Identity - Project: Woodie Woodie North - Commodity: phosphorus - Region: australia\_wa - Reported Region: Western Australia - Ticker: AX8 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Ms Felicity Hughes - Resource group id: resource:da673c2016787e7179f6 - Deposit or zone: TOTAL #### Resource Data - Category: inferred - Tonnes: 1200000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % Mn #### Prior Estimate - Resource Date: 2023-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-18T00:00:00.000Z Reasoning: The total phosphorus content of 0.1% in the Inferred Resource for Woodie Woodie North is very low, which is a positive indicator for the quality of the manganese mineralization. - Positive factor: Very low phosphorus content is beneficial for manganese ore quality. - Negative factor: Resource is entirely Inferred, indicating low geological confidence. - Negative factor: Estimate is stale, with an effective date of November 2023. - Negative factor: This is a restatement of a prior MRE, not new information. Evidence · table > 0.1 Context: 1.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.