# DRR: Corporate Presentation - October 2026

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03153736

Publisher: asx

Original announcement: 2026-10-18T21:11:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-18T22:26:31.977Z

Atlas analysis updated: 2026-10-18T22:26:31.977Z

- Company: Deterra Royalties Limited

- Ticker: DRR

- Exchange: ASX

- Region: Unavailable

- Primary commodity: Unavailable

- Secondary commodities: Iron ore, Lithium, Copper, Mineral sands, Zinc, Gold, Silver, Molybdenum, Lead

- Document categories: Other, Agreement transaction, Resource update, Metallurgy

- Extracted: 2026-10-18 22:26:32 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Deterra Royalties presented a corporate overview highlighting its diversified portfolio of royalty assets, strong financial performance for FY26, and strategic growth initiatives. Key updates include the recent acquisition of a royalty over the Santa Cruz Copper Project for US$74.15 million and significant de-risking and expansion of the Thacker Pass Lithium Project, which saw its mine life and reserves double following an updated NI 43-101 technical report. The company emphasizes its low-risk royalty model, high margins, and commitment to shareholder returns through dividends.

Reasoning: The corporate presentation highlights robust financial results, strategic acquisitions, and significant growth and de-risking of core assets, positioning the company for continued expansion and strong shareholder returns, despite some non-JORC reporting standards and royalty buyback clauses.

- Positive factor: Strong financial performance for FY26 with A$164m NPAT and 94% EBITDA margin.

- Positive factor: Strategic acquisition of Santa Cruz Copper royalty for US$74.15 million, adding a new core asset.

- Positive factor: Significant de-risking and expansion of Thacker Pass Lithium Project, with mine life and reserves doubling.

- Positive factor: Diversified portfolio of long-life, low-cost assets in tier-one jurisdictions.

- Positive factor: Strong balance sheet with A$250m undrawn credit facilities and 75% dividend payout ratio.

- Negative factor: Some key resource estimates \(Thacker Pass, Santa Cruz\) are not JORC compliant, using NI 43-101 or S-K 1300.

- Negative factor: Sonora Lithium Project concessions are under dispute, creating uncertainty.

- Negative factor: Thacker Pass and Santa Cruz royalties include buyback options, which could reduce future revenue streams.

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 96

## Classification and evidence

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document details an updated NI 43-101 for Thacker Pass, doubling mine life, LCE pathway, and reserves/resources, and provides current resource/reserve figures for Santa Cruz.

Evidence · text

> Updated NI 43-101 \(Technical Report\) supporting: Doubling mine life to 85 years from 40 years; LCE Pathway to 160ktpa from 80ktpa; > doubling Reserve \(to 14.3Mt LCE from 3.7Mt LCE\) and Resource \(to 44.5Mt LCE from 16.1Mt LCE\)

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: Thacker Pass reserves more than doubled to 14.3Mt LCE from 3.7Mt LCE, and resources more than doubled to 44.5Mt LCE from 16.1Mt LCE.

Evidence · text

> > doubling Reserve \(to 14.3Mt LCE from 3.7Mt LCE\) and Resource \(to 44.5Mt LCE from 16.1Mt LCE\)

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: Thacker Pass and Pukaqaqa resource estimates are prepared using NI 43-101 regulations.

Evidence · text

> The Mineral Reserve and Resource estimates have been prepared using the National Instrument 43-101 \(Standards of Disclosure for Mineral Projects\) of the Canadian Securities Administrators

**Historical Estimate Only**

Polarity: negative

Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.

Why it applies: Several resource estimates \(Thacker Pass, Santa Cruz, Sonora, Wonnerup, Pukaqaqa\) are explicitly stated as 'Non-JORC' and prepared using other standards like NI 43-101 or S-K 1300, indicating they are not compliant with JORC.

Evidence · text

> The Mineral Reserve and Resource estimates are not reported in accordance with the JORC Code. The Mineral Reserve and Resource estimates have been prepared using the National Instrument 43-101 \(Standards of Disclosure for Mineral Projects\) of the Canadian Securities Administrators and the S-K 1300 regulations for the US Securities Act of 1933. Accordingly, the Mineral Reserve and Resource estimates are not, and do not purport to be, compliant with the JORC Code

**Stale Estimate**

Polarity: negative

Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: The Paradox DFS is from 2022, Antler PFS from 2024, Sonora FS from 2017, and Lincoln PEA from 2015, indicating these are not recent estimates.

Evidence · text

> Paradox DFS \(2022\)1 Utah Lithium 2.5% NSR

**Maiden Resource**

Polarity: neutral

Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The Santa Cruz project reports its current Mineral Reserves and Resources, which are presented as new information in the context of the acquisition.

Evidence · text

> Current Mineral Reserves, including outside DRR royalty area: ~1.5 million tonnes contained copper at average grade of 1.08%Cu

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: The Lincoln project's estimate is from a PEA \(Preliminary Economic Assessment\) in 2015.

Evidence · text

> Lincoln PEA \(2015\) California Gold 0.75% NSR \(net\)

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: The Antler project's estimate is from a PFS \(Pre-Feasibility Study\) in 2024.

Evidence · text

> Antler PFS \(2024\) Arizona Copper / Zinc 0.9% NSR + 0.45% AOI, with partial buyback

**Pilot Scale Complete**

Polarity: positive

Story-specific tag

Definition: Pilot or demonstration plant testing completed under continuous operation.

Why it applies: Thacker Pass is targeting mechanical completion and ramp-up, and Paradox is commencing operation of a demonstration plant, indicating advanced test work.

Evidence · text

> Mechanical completion / ramp up to capacity of 40ktpa LCE

**Refractory Ore**

Polarity: negative

Story-specific tag

Definition: Ore requires oxidation/pressure treatment before recovery — a processing and recovery risk.

Why it applies: The Sonora Lithium Project concessions are under dispute, indicating potential issues with project viability or permitting.

Evidence · text

> In August 2023, the General Directorate of Mines in Mexico issued a formal notice indicating nine of the lithium concessions underpinning the Sonora Lithium Project were cancelled. This matter remains under dispute

## Extracted facts

Stored fact records: 33. Some facts used in scoring do not have a stored record.

## Resource Estimates (29)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-2)

Santa Cruz · copper

#### Identity

- Project: Santa Cruz
- Commodity: copper
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Effective date: 2026-09-23T00:00:00.000Z
- Reporting standards: sec\_sk1300
- Resource group id: resource:f963ff0df25ee1a3268d

#### Resource Data

- Category: indicated
- Tonnes: 1400000
- Grade: 0.79
- Grade Unit: %

#### Prior Estimate

- Resource Date: 2026-09-23

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Santa Cruz project reports a significant Indicated Mineral Resource of 1.4 million tonnes of contained copper at 0.79% Cu, providing a solid base for future studies, though it is not JORC compliant.

- Positive factor: Indicated resource category provides reasonable geological confidence.

- Negative factor: Resource estimate is not JORC compliant, using S-K 1300.

Evidence · text

> Indicated: ~1.4 million tonnes contained copper @ 0.79% Cu

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-3)

Santa Cruz · copper

#### Identity

- Project: Santa Cruz
- Commodity: copper
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Effective date: 2026-09-23T00:00:00.000Z
- Reporting standards: sec\_sk1300
- Resource group id: resource:37e65f4d3cef2584cbe4

#### Resource Data

- Category: inferred
- Tonnes: 200000
- Grade: 0.73
- Grade Unit: %

#### Prior Estimate

- Resource Date: 2026-09-23

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Santa Cruz project reports an Inferred Mineral Resource of 0.2 million tonnes of contained copper at 0.73% Cu, which is a speculative category and not JORC compliant.

- Negative factor: Inferred resource category has lower geological confidence.

- Negative factor: Resource estimate is not JORC compliant, using S-K 1300.

Evidence · text

> Inferred: ~0.2 million tonnes contained copper @ 0.73% Cu

#### 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 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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-4)

Santa Cruz · copper

#### Identity

- Project: Santa Cruz
- Commodity: copper
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Effective date: 2026-09-23T00:00:00.000Z
- Reporting standards: sec\_sk1300
- Resource group id: resource:dabcde9e0b0177c9a1e3

#### Resource Data

- Category: proven
- Tonnes: 140000000
- Grade: 1.08
- Grade Unit: %
- Contained Metal: 1.5
- Contained Unit: mt

#### Prior Estimate

- Resource Date: 2026-09-23

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Santa Cruz project reports substantial Mineral Reserves of 1.5 million tonnes contained copper at an average grade of 1.08% Cu, supporting a 24-year mine life, though it is not JORC compliant.

- Positive factor: Significant contained copper in Mineral Reserves indicates economic viability.

- Positive factor: Average grade of 1.08% Cu is strong for a copper project.

- Negative factor: Reserve estimate is not JORC compliant, using S-K 1300.

Evidence · text

> Current Mineral Reserves, including outside DRR royalty area: ~1.5 million tonnes contained copper at average grade of 1.08%Cu

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-5)

Thacker Pass · lithium

#### Identity

- Project: Thacker Pass
- Commodity: lithium
- Region: usa\_nv
- Reported Region: Nevada, USA
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Effective date: 2024-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, sec\_sk1300
- Resource group id: resource:9f19ce4ed32e73ed91ec

#### Resource Data

- Category: proven
- Tonnes: 14300000
- Grade Unit: LCE

#### Prior Estimate

- Resource Date: 2024-12-31
- Prior Tonnes: 3700000

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Thacker Pass Lithium Project's reserves more than doubled to 14.3 Mt LCE from 3.7 Mt LCE, a highly positive and material update from the NI 43-101 technical report, significantly de-risking the project.

- Positive factor: Significant increase in reserves, more than doubling the prior estimate.

- Positive factor: Updated NI 43-101 technical report provides increased confidence.

- Positive factor: Reserves are a high-confidence category, supporting economic studies.

- Negative factor: Reserve estimate is not JORC compliant, using NI 43-101 and S-K 1300.

Evidence · text

> > doubling Reserve \(to 14.3Mt LCE from 3.7Mt LCE\)

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**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

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: 14300000 against 3700000 previously

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-6)

Thacker Pass · lithium

#### Identity

- Project: Thacker Pass
- Commodity: lithium
- Region: usa\_nv
- Reported Region: Nevada, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Effective date: 2024-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101, sec\_sk1300
- Resource group id: resource:0b972d6a8dd280132a97

#### Resource Data

- Category: inferred
- Tonnes: 44500000
- Grade Unit: LCE

#### Prior Estimate

- Resource Date: 2024-12-31
- Prior Tonnes: 16100000

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Thacker Pass Lithium Project's resources more than doubled to 44.5 Mt LCE from 16.1 Mt LCE, a highly positive and material update from the NI 43-101 technical report, indicating significant growth potential.

- Positive factor: Significant increase in resources, more than doubling the prior estimate.

- Positive factor: Updated NI 43-101 technical report provides increased confidence.

- Negative factor: Resource estimate is not JORC compliant, using NI 43-101 and S-K 1300.

Evidence · text

> and Resource \(to 44.5Mt LCE from 16.1Mt LCE\)

#### 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 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

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**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

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: 44500000 against 16100000 previously

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-71)

Kwale · heavy minerals

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Kwale
- Commodity: heavy minerals
- Region: kenya
- Reported Region: Kenya
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- Resource group id: resource:34e9bee3da7c902a7bd6

#### Resource Data

- Category: proven
- Tonnes: 7600000
- Grade: 1.8
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Kwale project has JORC compliant reserves of 7.6 Mt at 1.8% Heavy Minerals, but mining is expected to cease in December 2024.

- Positive factor: JORC compliant reserves provide confidence in the estimate.

- Negative factor: Mining expected to cease in December 2024, indicating limited future revenue.

Evidence · text

> JORC 7.6Mt @ 1.8% Heavy Minerals

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-72)

Kwale · heavy minerals

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Kwale
- Commodity: heavy minerals
- Region: kenya
- Reported Region: Kenya
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:737fce898223678edd85

#### Resource Data

- Category: indicated
- Tonnes: 13500000
- Grade: 1.6
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Kwale project has JORC compliant resources of 13.5 Mt at 1.6% Heavy Minerals, but mining is expected to cease in December 2024.

- Positive factor: JORC compliant resources provide confidence in the estimate.

- Negative factor: Mining expected to cease in December 2024, indicating limited future revenue.

Evidence · text

> JORC 13.5Mt @ 1.6% Heavy Minerals

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-73)

Yandanooka · heavy minerals

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Yandanooka
- Commodity: heavy minerals
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- Resource group id: resource:3beb9a79e9acc488c8b2

#### Resource Data

- Category: proven
- Tonnes: 30000000
- Grade: 3.9
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Yandanooka project has JORC compliant reserves of 30 Mt at 3.9% Heavy Minerals, indicating a significant resource.

- Positive factor: JORC compliant reserves provide confidence in the estimate.

Evidence · text

> JORC 30Mt @ 3.9% Heavy Minerals

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-74)

Yandanooka · heavy minerals

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Yandanooka
- Commodity: heavy minerals
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:173170f3396c2d905a10

#### Resource Data

- Category: indicated
- Tonnes: 57000000
- Grade: 3.1
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Yandanooka project has JORC compliant resources of 57 Mt at 3.1% Heavy Minerals, indicating a significant resource.

- Positive factor: JORC compliant resources provide confidence in the estimate.

Evidence · text

> JORC 57Mt @ 3.1% Heavy Minerals

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-75)

Wonnerup · heavy minerals

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Wonnerup
- Commodity: heavy minerals
- Region: australia\_wa
- Reported Region: Western Australia
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: sec\_sk1300
- Resource group id: resource:877b4a49bbc725e02d51

#### Resource Data

- Category: proven
- Tonnes: 6000000
- Grade: 5.4
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Wonnerup project has reserves of 6 Mt at 5.4% Heavy Minerals, but the estimate is not JORC compliant, using S-K 1300.

- Negative factor: Reserve estimate is not JORC compliant, using S-K 1300.

Evidence · text

> Non-JORC8 6Mt @ 5.4% Heavy Minerals9

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-76)

Thacker Pass · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Thacker Pass
- Commodity: lithium
- Region: usa\_nv
- Reported Region: Nevada, USA
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101, sec\_sk1300
- Resource group id: resource:ae29f6e125ced2afcf8a

#### Resource Data

- Category: proven
- Tonnes: 1056000000
- Grade: 0.254
- Grade Unit: % Li

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Thacker Pass project has non-JORC compliant reserves of 1,056 Mt at 0.254% Li, indicating a large lithium resource.

- Positive factor: Large tonnage of reserves indicates significant scale.

- Negative factor: Reserve estimate is not JORC compliant, using NI 43-101 and S-K 1300.

Evidence · text

> Non-JORC2 1,056Mt @ 0.254% Li

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-77)

Thacker Pass · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Thacker Pass
- Commodity: lithium
- Region: usa\_nv
- Reported Region: Nevada, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101, sec\_sk1300
- Resource group id: resource:e0a83f136fa0e894bf71

#### Resource Data

- Category: indicated
- Tonnes: 5767000000
- Grade: 0.217
- Grade Unit: % Li

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Thacker Pass project has non-JORC compliant resources of 5,767 Mt at 0.217% Li, indicating a very large lithium resource.

- Positive factor: Very large tonnage of resources indicates significant long-term potential.

- Negative factor: Resource estimate is not JORC compliant, using NI 43-101 and S-K 1300.

Evidence · text

> Non-JORC2 5,767Mt @ 0.217% Li

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-78)

Santa Cruz · copper

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Santa Cruz
- Commodity: copper
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: sec\_sk1300
- Resource group id: resource:825b6483cf8938431dbb

#### Resource Data

- Category: proven
- Tonnes: 140000000
- Grade: 1.08
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Santa Cruz project has non-JORC compliant reserves of 140 Mt at 1.08% Cu, indicating a substantial copper resource.

- Positive factor: Significant tonnage and good grade for copper reserves.

- Negative factor: Reserve estimate is not JORC compliant, using S-K 1300.

Evidence · text

> Non-JORC2 140Mt @ 1.08% Cu

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-79)

Santa Cruz · copper

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Santa Cruz
- Commodity: copper
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: sec\_sk1300
- Resource group id: resource:b344b305064aca6f5da9

#### Resource Data

- Category: indicated
- Tonnes: 326000000
- Grade: 0.95
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Santa Cruz project has non-JORC compliant resources of 326 Mt at 0.95% Cu, indicating a large copper resource.

- Positive factor: Large tonnage of resources with good grade indicates significant potential.

- Negative factor: Resource estimate is not JORC compliant, using S-K 1300.

Evidence · text

> Non-JORC2 326Mt @ 0.95% Cu

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-80)

Sonora · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Sonora
- Commodity: lithium
- Region: mexico
- Reported Region: Mexico
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- Resource group id: resource:2a4f23aef4931727618f

#### Resource Data

- Category: proven
- Tonnes: 244000000
- Grade: 0.35
- Grade Unit: % Li

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Sonora project has non-JORC compliant reserves of 244 Mt at 0.35% Li, but the concessions are under dispute, impacting project viability.

- Positive factor: Significant tonnage and good grade for lithium reserves.

- Negative factor: Reserve estimate is not JORC compliant, using NI 43-101.

- Negative factor: Concessions are under dispute, creating uncertainty.

Evidence · text

> Non-JORC6 244Mt @ 0.35% Li

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-81)

Sonora · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Sonora
- Commodity: lithium
- Region: mexico
- Reported Region: Mexico
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- Resource group id: resource:73f695648ec9d86ed18b

#### Resource Data

- Category: indicated
- Tonnes: 559000000
- Grade: 0.3
- Grade Unit: % Li

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Sonora project has non-JORC compliant resources of 559 Mt at 0.30% Li, but the concessions are under dispute, impacting project viability.

- Positive factor: Large tonnage of resources with good grade indicates significant potential.

- Negative factor: Resource estimate is not JORC compliant, using NI 43-101.

- Negative factor: Concessions are under dispute, creating uncertainty.

Evidence · text

> Non-JORC6 559Mt @ 0.30% Li

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-82)

Paradox · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Paradox
- Commodity: lithium
- Region: usa\_ut
- Reported Region: Utah, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:ac2c1d553468faa5b089
- Deposit or zone: Paradox

#### Resource Data

- Category: indicated
- Tonnes: 2516000000
- Grade: 112
- Grade Unit: ppm Li

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Paradox project has JORC compliant resources of 2,516 Mt at 112 ppm Li, indicating a very large lithium resource.

- Positive factor: Very large tonnage of JORC compliant resources indicates significant potential.

Evidence · text

> JORC Paradox: 2,516Mt @ 112ppm Li

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-84)

Antler · copper

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: copper
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- Resource group id: resource:685e6e466220f19e3fb0

#### Resource Data

- Category: proven
- Tonnes: 11000000
- Grade: 1.6
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant reserves provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-85)

Antler · zinc

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: zinc
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- Resource group id: resource:685e6e466220f19e3fb0

#### Resource Data

- Category: proven
- Tonnes: 11000000
- Grade: 3.7
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant reserves provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-86)

Antler · lead

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: lead
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- Resource group id: resource:685e6e466220f19e3fb0

#### Resource Data

- Category: proven
- Tonnes: 11000000
- Grade: 0.6
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant reserves provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-87)

Antler · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: gold
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- Resource group id: resource:685e6e466220f19e3fb0

#### Resource Data

- Category: proven
- Tonnes: 11000000
- Grade: 0.3
- Grade Unit: g/t

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant reserves provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-88)

Antler · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: silver
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- Resource group id: resource:685e6e466220f19e3fb0

#### Resource Data

- Category: proven
- Tonnes: 11000000
- Grade: 26
- Grade Unit: g/t

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant reserves of 11 Mt at 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3 g/t Au, and 26 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant reserves provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 11Mt @ 1.6% Cu, 3.7% Zn, 0.6% Pb, 0.3g/t Au, 26g/t Ag

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-89)

Antler · copper

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: copper
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:7233ff359a8c2d87d9a5

#### Resource Data

- Category: indicated
- Tonnes: 14200000
- Grade: 1.8
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant resources provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-90)

Antler · zinc

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: zinc
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:7233ff359a8c2d87d9a5

#### Resource Data

- Category: indicated
- Tonnes: 14200000
- Grade: 4.3
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant resources provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-91)

Antler · lead

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: lead
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:7233ff359a8c2d87d9a5

#### Resource Data

- Category: indicated
- Tonnes: 14200000
- Grade: 0.9
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant resources provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-92)

Antler · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: gold
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:7233ff359a8c2d87d9a5

#### Resource Data

- Category: indicated
- Tonnes: 14200000
- Grade: 0.3
- Grade Unit: g/t

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant resources provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-93)

Antler · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Antler
- Commodity: silver
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:7233ff359a8c2d87d9a5

#### Resource Data

- Category: indicated
- Tonnes: 14200000
- Grade: 34
- Grade Unit: g/t

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Antler project has JORC compliant resources of 14.2 Mt at 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3 g/t Au, and 34 g/t Ag, indicating a significant polymetallic resource.

- Positive factor: JORC compliant resources provide confidence in the estimate.

- Positive factor: Polymetallic nature adds value.

Evidence · text

> JORC 14.2Mt @ 1.8% Cu, 4.3% Zn, 0.9% Pb, 0.3g/t Au, 34g/t Ag

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-94)

Mimbula · copper

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Mimbula
- Commodity: copper
- Region: zambia
- Reported Region: Zambia
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- Resource group id: resource:e6fd75c8212166c23e53

#### Resource Data

- Category: indicated
- Tonnes: 76300000
- Grade: 1.07
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Mimbula project has JORC compliant resources of 76.3 Mt at 1.07% Cu, indicating a significant copper resource.

- Positive factor: JORC compliant resources provide confidence in the estimate.

- Positive factor: Good grade for copper resources.

Evidence · text

> JORC 76.3Mt @ 1.07% Cu

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-resource-facts-95)

Pukaqaqa · copper

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Pukaqaqa
- Commodity: copper
- Region: peru
- Reported Region: Peru
- Ticker: DRR

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- Resource group id: resource:6173891e4c408084efe0

#### Resource Data

- Category: indicated
- Tonnes: 349100000
- Grade: 0.4
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Pukaqaqa project has non-JORC compliant resources of 349.1 Mt at 0.40% Cu, indicating a large copper resource.

- Positive factor: Large tonnage of resources indicates significant potential.

- Negative factor: Resource estimate is not JORC compliant, using NI 43-101.

Evidence · text

> Non-JORC6 349.1Mt @ 0.40% Cu

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**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

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**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

## Metallurgical Results (4)

### pilot plant

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-metallurgical-facts-0)

Thacker Pass · lithium

#### Identity

- Project: Thacker Pass
- Commodity: lithium
- Region: usa\_nv
- Reported Region: Nevada, USA
- Ticker: DRR

#### Test Work

- Program Status: detailed
- Test Type: pilot plant

#### Lab

- Consultant: Bechtel

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: Targeting mechanical completion by late 2027 for the Thacker Pass Lithium Project is a positive development, indicating the project is advancing towards production.

- Positive factor: Mechanical completion is a significant project milestone, indicating progress towards production.

Evidence · text

> Thacker Pass Lithium Project mechanical completion targeted end of 2027

#### Tags used in scoring

**Pilot Scale Complete**

Polarity: positive

Definition: Pilot or demonstration plant testing completed under continuous operation.

Why it applies: test\_type names pilot-scale work

### pilot plant

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-metallurgical-facts-16)

Thacker Pass · lithium

#### Identity

- Project: Thacker Pass
- Commodity: lithium
- Region: usa\_nv
- Reported Region: Nevada, USA
- Ticker: DRR

#### Test Work

- Program Status: detailed
- Test Type: pilot plant

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Thacker Pass Lithium Project is targeting mechanical completion and ramp-up to 40ktpa LCE capacity, indicating significant progress towards commercial production.

- Positive factor: Mechanical completion and ramp-up to capacity are key milestones towards production.

Evidence · text

> Mechanical completion / ramp up to capacity of 40ktpa LCE

#### Tags used in scoring

**Pilot Scale Complete**

Polarity: positive

Definition: Pilot or demonstration plant testing completed under continuous operation.

Why it applies: test\_type names pilot-scale work

### demonstration plant

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-metallurgical-facts-20)

Paradox · lithium

#### Identity

- Project: Paradox
- Commodity: lithium
- Region: usa\_ut
- Reported Region: Utah, USA
- Ticker: DRR

#### Test Work

- Program Status: preliminary
- Test Type: demonstration plant

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Paradox project is commencing operation of a demonstration plant, which is a positive step towards validating its lithium extraction process.

- Positive factor: Commencing demonstration plant operation is a key step in de-risking the project and validating the process.

Evidence · text

> Commence operation of demonstration plant

#### Tags used in scoring

**Pilot Scale Complete**

Polarity: positive

Definition: Pilot or demonstration plant testing completed under continuous operation.

Why it applies: test\_type names pilot-scale work

### demonstration plant

[Link to this fact](https://atlas-staging.minestarters.com/news/drr-corporate-presentation-october-2026--2ad2979d-6c40-4b2c-afc7-de003b90a967#fact-metallurgical-facts-21)

Green River · lithium

#### Identity

- Project: Green River
- Commodity: lithium
- Region: usa\_ut
- Reported Region: Utah, USA
- Ticker: DRR

#### Test Work

- Program Status: preliminary
- Test Type: demonstration plant

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-18T00:00:00.000Z

Reasoning: The Green River project is advancing to engineering and demonstration plant stages, which is a positive step for its lithium development.

- Positive factor: Advancement to engineering and demonstration plant stage indicates progress in project development.

Evidence · text

> Green River engineering & demonstration plant

#### Tags used in scoring

**Pilot Scale Complete**

Polarity: positive

Definition: Pilot or demonstration plant testing completed under continuous operation.

Why it applies: test\_type names pilot-scale work

## 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.