# LDR: Quarterly Activities/Appendix 5B Cash Flow Report Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03154086 Publisher: asx Original announcement: 2026-10-19T04:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-19T04:14:03.530Z Atlas analysis updated: 2026-10-19T04:14:03.530Z - Company: Lode Resources Ltd - Ticker: LDR - Exchange: ASX - Region: Tasmania - Primary commodity: Silver - Secondary commodities: Antimony, Copper, Lead, Zinc, Gold, Tin, Arsenic - Document categories: Drill results, Other, Resource update - Extracted: 2026-10-19 04:14:04 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Lode Resources reported high-grade drill intercepts from its Montezuma Silver & Antimony Project, including a new Moores Lode discovery and extensions to the Montezuma Lode, which significantly expands the project's resource growth potential. The company also announced new gold intercepts at the Uralla Gold Project, further supporting the Intrusive Related Gold System model. Lode Resources ended the quarter with a strong cash position and no debt, with several exploration programs advancing across its Tasmanian and NSW projects. Reasoning: The report details multiple high-grade drill intercepts, including a new lode discovery at Montezuma, which significantly expands the project's resource potential. Additionally, new gold intercepts at Uralla confirm the IRGS model, and the company maintains a strong cash position. However, the metal equivalent calculation excludes some commodities, and arsenic is present in the Montezuma intercepts. - Positive factor: New high-grade intercepts at Montezuma, including a new lode discovery \(Moores Lode\) and extension of the Montezuma Lode, significantly expanding resource potential. - Positive factor: Exceptional silver equivalent grades \(1,554 g/t AgEq and 1,241 g/t AgEq\) from new discoveries. - Positive factor: Confirmation of the Intrusive Related Gold System \(IRGS\) model at Uralla Gold Project with multiple new gold intercepts. - Positive factor: Strong cash position of $2.716 million with no debt and non-dilutive funding received/expected. - Positive factor: Maiden resource at Montezuma is 65% Indicated, providing a higher-confidence foundation. - Negative factor: Metal equivalent grades \(AgEq\) for Montezuma explicitly exclude tin and gold, potentially understating overall metal endowment and reducing transparency. - Negative factor: Arsenic is present in significant percentages in Montezuma intercepts, indicating a potential deleterious element that could impact processing or concentrate quality. - Negative factor: QA/QC methods \(blanks, standards, duplicates\) and laboratory certification are not explicitly detailed for the drill results, reducing verifiability. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 110 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 790 g/t Ag over 1.1m and 1,554 g/t AgEq is exceptionally high-grade for silver and silver equivalent. Evidence · text > 790g/t Ag, 7.2% Cu, 0.3% Pb, 0.3% Sb, 0.8g/t Au, 0.6% Sn over 1.1m from 220.4m \(1,554g/t AgEq1\) **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 437 g/t Ag over 1.0m and 1,241 g/t AgEq is exceptionally high-grade for silver and silver equivalent. Evidence · text > 437g/t Ag, 3.4% Cu, 2.4% Pb, 1.2% Sb, 1.2g/t Au, 3.7% Sn over 1.0m from 133.5m \(1,241g/t AgEq1\) **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The MZS43 drill hole extended known mineralization to the south, indicating a step-out extension. Evidence · text > Montezuma Lode extended south: 790g/t Ag, 7.2% Cu, 0.3% Pb, 0.3% Sb, 0.8g/t Au, 0.6% Sn over 1.1m from 220.4m \(1,554g/t AgEq1\) **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 report includes Competent Person's Statements for both NSW and Tasmanian projects, confirming QP sign-off under JORC 2012. Evidence · text > The information in this Report that relates to Exploration Results for LDR’s NSW projects is based on information compiled by Mr Mitch Tarrant, who is a Member of the Australian Institute of Geoscientists. ... to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. ... The information in this Report that relates to Exploration Results for LDR’s Tasmanian projects is based on information compiled by Mr Tim Callaghan, who is a Member of the Australian Institute of Geoscientists. ... to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. **Metal Equivalent Opaque** Polarity: negative Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Why it applies: The reported AgEq grades explicitly exclude tin and gold, meaning the calculation does not reflect the full metal endowment. Evidence · text > Reported AgEq grades exclude tin and gold, so the contribution of these metals is not reflected in the AgEq figures **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: Arsenic \(As\) is reported in significant percentages in several Montezuma intercepts, indicating a potential penalty element. Evidence · table > 6.0 Context: 1 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Montezuma MRE includes an inferred component, which is a speculative category with limited drilling. Evidence · text > The current Montezuma JORC \(2012\) MRE of 480kt at 533g/t AgEq1 for 8.2Moz AgEq1 is reported at a 200g/t AgEq1 cut-off, with 65% of the resource classified as Indicated. **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: 65% of the Montezuma resource is classified as Indicated, indicating reasonable geological confidence. Evidence · text > with 65% of the resource classified as Indicated. **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 Montezuma MRE is described as a 'maiden resource', establishing the first formal estimate for the project. Evidence · text > 8.2Moz AgEq maiden resource **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Montezuma MRE is reported as JORC \(2012\) compliant. Evidence · text > Montezuma JORC \(2012\) MRE **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: The report includes Competent Person's Statements for both NSW and Tasmanian projects, confirming QP sign-off under JORC 2012. Evidence · text > The information in this Report that relates to Exploration Results for LDR’s NSW projects is based on information compiled by Mr Mitch Tarrant, who is a Member of the Australian Institute of Geoscientists. ... to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. ... The information in this Report that relates to Exploration Results for LDR’s Tasmanian projects is based on information compiled by Mr Tim Callaghan, who is a Member of the Australian Institute of Geoscientists. ... to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. **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 cut-off grade for the Montezuma MRE is clearly stated as 200 g/t AgEq. Evidence · text > reported at a 200g/t AgEq1 cut-off ## Extracted facts Stored fact records: 110. Some facts used in scoring do not have a stored record. ## Drill Results (109) ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-0) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 437 - Grade Unit: g/t - Intercept: 1 m - From: 133.5 m - To: 134.5 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Metal Eq. Grade: 1241 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept represents a new high-grade silver discovery \(Moores Lode\) with an exceptional silver equivalent grade, significantly enhancing the project's exploration upside, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Exceptional silver grade \(437 g/t\) in a new lode discovery \(Moores Lode\). - Positive factor: High silver equivalent grade \(1,241 g/t AgEq\) indicates strong polymetallic endowment. - Positive factor: New discovery significantly expands the project's resource potential. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.0%\) as a deleterious element. Evidence · table > 437 Context: 1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-1) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 6 - Grade Unit: % - Intercept: 1 m - From: 133.5 m - To: 134.5 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The high arsenic grade, while part of a new discovery, is a negative factor due to its deleterious nature, potentially impacting future processing and economic viability. - Negative factor: High percentage of arsenic \(6.0%\) indicates a significant deleterious element that could complicate processing and incur penalties. Evidence · table > 6.0 Context: 1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-2) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 3.4 - Grade Unit: % - Intercept: 1 m - From: 133.5 m - To: 134.5 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This exceptional copper grade is part of a new discovery, adding significant value to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Exceptional copper grade \(3.4%\) in a new lode discovery \(Moores Lode\). - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.0%\) as a deleterious element. Evidence · table > 3.4 Context: 1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-3) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 2.4 - Grade Unit: % - Intercept: 1 m - From: 133.5 m - To: 134.5 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This strong lead grade is part of a new discovery, contributing positively to the polymetallic nature of the system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Strong lead grade \(2.4%\) in a new lode discovery \(Moores Lode\), matching prior best for the project. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.0%\) as a deleterious element. Evidence · table > 2.4 Context: 1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-4) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.3 - Grade Unit: % - Intercept: 1 m - From: 133.5 m - To: 134.5 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The zinc grade is weak, but its presence contributes to the polymetallic nature of the new discovery, though it's offset by the deleterious arsenic and partial AgEq calculation. - Negative factor: Weak zinc grade \(0.3%\) for a polymetallic system. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.0%\) as a deleterious element. Evidence · table > 0.3 Context: 1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-5) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 1.2 - Grade Unit: % - Intercept: 1 m - From: 133.5 m - To: 134.5 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This strong antimony grade is part of a new discovery, contributing positively to the polymetallic nature of the system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Strong antimony grade \(1.2%\) in a new lode discovery \(Moores Lode\), matching prior best for the project. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.0%\) as a deleterious element. Evidence · table > 1.2 Context: 1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-6) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 1.24 - Grade Unit: g/t - Intercept: 1 m - From: 133.5 m - To: 134.5 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This strong gold grade is part of a new discovery and represents an improvement over previous gold results for the project, contributing positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Strong gold grade \(1.24 g/t\) in a new lode discovery \(Moores Lode\), exceeding the project's prior best gold grade. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.0%\) as a deleterious element. Evidence · table > 1.24 Context: 1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-7) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 3.7 - Grade Unit: % - Intercept: 1 m - From: 133.5 m - To: 134.5 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This strong tin grade is part of a new discovery, contributing positively to the polymetallic nature of the system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Strong tin grade \(3.7%\) in a new lode discovery \(Moores Lode\). - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.0%\) as a deleterious element. Evidence · table > 3.7 Context: 1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-8) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 863 - Grade Unit: g/t - Intercept: 0.5 m - From: 133.5 m - To: 134 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This exceptional silver grade within a sub-interval of the new Moores Lode discovery highlights a very high-grade zone, significantly enhancing the project's exploration upside, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Exceptional silver grade \(863 g/t\) in a high-grade sub-interval within the new Moores Lode discovery. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.9%\) as a deleterious element. Evidence · table > 863 Context: 0.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-9) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 6.9 - Grade Unit: % - Intercept: 0.5 m - From: 133.5 m - To: 134 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The high arsenic grade, while part of a new discovery, is a negative factor due to its deleterious nature, potentially impacting future processing and economic viability. - Negative factor: High percentage of arsenic \(6.9%\) indicates a significant deleterious element that could complicate processing and incur penalties. Evidence · table > 6.9 Context: 0.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-10) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 6.8 - Grade Unit: % - Intercept: 0.5 m - From: 133.5 m - To: 134 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This exceptional copper grade within a sub-interval of the new Moores Lode discovery adds significant value to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Exceptional copper grade \(6.8%\) in a high-grade sub-interval within the new Moores Lode discovery. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.9%\) as a deleterious element. Evidence · table > 6.8 Context: 0.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-11) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 4 - Grade Unit: % - Intercept: 0.5 m - From: 133.5 m - To: 134 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This strong lead grade within a sub-interval of the new Moores Lode discovery contributes positively to the polymetallic nature of the system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Strong lead grade \(4.0%\) in a high-grade sub-interval within the new Moores Lode discovery, exceeding prior best for the project. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.9%\) as a deleterious element. Evidence · table > 4.0 Context: 0.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-12) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.5 - Grade Unit: % - Intercept: 0.5 m - From: 133.5 m - To: 134 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The zinc grade is weak, but its presence contributes to the polymetallic nature of the new discovery, though it's offset by the deleterious arsenic and partial AgEq calculation. - Negative factor: Weak zinc grade \(0.5%\) for a polymetallic system. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.9%\) as a deleterious element. Evidence · table > 0.5 Context: 0.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-13) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 2.1 - Grade Unit: % - Intercept: 0.5 m - From: 133.5 m - To: 134 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This strong antimony grade within a sub-interval of the new Moores Lode discovery contributes positively to the polymetallic nature of the system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Strong antimony grade \(2.1%\) in a high-grade sub-interval within the new Moores Lode discovery, exceeding prior best for the project. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.9%\) as a deleterious element. Evidence · table > 2.1 Context: 0.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-14) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 1.77 - Grade Unit: g/t - Intercept: 0.5 m - From: 133.5 m - To: 134 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This strong gold grade within a sub-interval of the new Moores Lode discovery represents an improvement over previous gold results for the project, contributing positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Strong gold grade \(1.77 g/t\) in a high-grade sub-interval within the new Moores Lode discovery, exceeding the project's prior best gold grade. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.9%\) as a deleterious element. Evidence · table > 1.77 Context: 0.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-15) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 7.3 - Grade Unit: % - Intercept: 0.5 m - From: 133.5 m - To: 134 m - Intercept Depth: 133.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:133.5-134 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This exceptional tin grade within a sub-interval of the new Moores Lode discovery contributes significantly to the polymetallic nature of the system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Exceptional tin grade \(7.3%\) in a high-grade sub-interval within the new Moores Lode discovery, matching prior best for the project. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(6.9%\) as a deleterious element. Evidence · table > 7.3 Context: 0.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-16) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 790 - Grade Unit: g/t - Intercept: 1.1 m - From: 220.4 m - To: 221.5 m - Intercept Depth: 220.4 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:220.4-221.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Metal Eq. Grade: 1554 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This exceptional silver grade, part of an extension to the Montezuma Lode, represents a significant improvement over previous results and confirms resource growth potential, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Exceptional silver grade \(790 g/t\) extending the Montezuma Lode, significantly exceeding prior best for the project. - Positive factor: Exceptional silver equivalent grade \(1,554 g/t AgEq\) indicates strong polymetallic endowment. - Positive factor: Extension of known mineralization confirms continuity and resource growth potential. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(5.1%\) as a deleterious element. Evidence · table > 790 Context: 1.1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-17) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 5.1 - Grade Unit: % - Intercept: 1.1 m - From: 220.4 m - To: 221.5 m - Intercept Depth: 220.4 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:220.4-221.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The high arsenic grade, while part of an extension to known mineralization, is a negative factor due to its deleterious nature, potentially impacting future processing and economic viability. - Negative factor: High percentage of arsenic \(5.1%\) indicates a significant deleterious element that could complicate processing and incur penalties. Evidence · table > 5.1 Context: 1.1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-18) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 7.2 - Grade Unit: % - Intercept: 1.1 m - From: 220.4 m - To: 221.5 m - Intercept Depth: 220.4 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:220.4-221.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This exceptional copper grade, part of an extension to the Montezuma Lode, adds significant value to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Exceptional copper grade \(7.2%\) extending the Montezuma Lode. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(5.1%\) as a deleterious element. Evidence · table > 7.2 Context: 1.1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-19) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.3 - Grade Unit: % - Intercept: 1.1 m - From: 220.4 m - To: 221.5 m - Intercept Depth: 220.4 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:220.4-221.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The lead grade is weak and lower than previous results, but its presence contributes to the polymetallic nature of the extended mineralization, though it's offset by the deleterious arsenic and partial AgEq calculation. - Negative factor: Weak lead grade \(0.3%\) for a polymetallic system, lower than prior best for the project. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(5.1%\) as a deleterious element. Evidence · table > 0.3 Context: 1.1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-20) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.1 - Grade Unit: % - Intercept: 1.1 m - From: 220.4 m - To: 221.5 m - Intercept Depth: 220.4 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:220.4-221.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The zinc grade is weak, but its presence contributes to the polymetallic nature of the extended mineralization, though it's offset by the deleterious arsenic and partial AgEq calculation. - Negative factor: Weak zinc grade \(0.1%\) for a polymetallic system. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(5.1%\) as a deleterious element. Evidence · table > 0.1 Context: 1.1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-21) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.3 - Grade Unit: % - Intercept: 1.1 m - From: 220.4 m - To: 221.5 m - Intercept Depth: 220.4 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:220.4-221.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The antimony grade is weak and lower than previous results, but its presence contributes to the polymetallic nature of the extended mineralization, though it's offset by the deleterious arsenic and partial AgEq calculation. - Negative factor: Weak antimony grade \(0.3%\) for a polymetallic system, lower than prior best for the project. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(5.1%\) as a deleterious element. Evidence · table > 0.3 Context: 1.1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-22) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.81 - Grade Unit: g/t - Intercept: 1.1 m - From: 220.4 m - To: 221.5 m - Intercept Depth: 220.4 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:220.4-221.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This moderate gold grade, part of an extension to the Montezuma Lode, contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Moderate gold grade \(0.81 g/t\) extending the Montezuma Lode, above the project's average gold grade. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(5.1%\) as a deleterious element. Evidence · table > 0.81 Context: 1.1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-23) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.6 - Grade Unit: % - Intercept: 1.1 m - From: 220.4 m - To: 221.5 m - Intercept Depth: 220.4 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:220.4-221.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The tin grade is weak and lower than previous results, but its presence contributes to the polymetallic nature of the extended mineralization, though it's offset by the deleterious arsenic and partial AgEq calculation. - Negative factor: Weak tin grade \(0.6%\) for a polymetallic system, lower than prior best for the project. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(5.1%\) as a deleterious element. Evidence · table > 0.6 Context: 1.1 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-24) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 25 - Grade Unit: g/t - Intercept: 2 m - From: 365 m - To: 367 m - Intercept Depth: 365 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:365-367 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak silver grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak silver grade \(25 g/t\) for a polymetallic system, below the project's average silver grade. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. Evidence · table > 25 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-25) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2 m - From: 365 m - To: 367 m - Intercept Depth: 365 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:365-367 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of arsenic in this intercept is a positive for potential processing, despite the low silver grade. - Positive factor: Absence of arsenic \(0.0%\) is a positive for processing. Evidence · table > 0.0 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-26) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2 m - From: 365 m - To: 367 m - Intercept Depth: 365 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:365-367 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of copper in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No copper \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-27) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.8 - Grade Unit: % - Intercept: 2 m - From: 365 m - To: 367 m - Intercept Depth: 365 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:365-367 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak lead grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak lead grade \(0.8%\) for a polymetallic system, below the project's average lead grade. Evidence · table > 0.8 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-28) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 1.3 - Grade Unit: % - Intercept: 2 m - From: 365 m - To: 367 m - Intercept Depth: 365 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:365-367 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak zinc grade within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak zinc grade \(1.3%\) for a polymetallic system. Evidence · table > 1.3 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-29) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2 m - From: 365 m - To: 367 m - Intercept Depth: 365 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:365-367 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of antimony in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No antimony \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-30) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: -0.01 - Grade Unit: g/t - Intercept: 2 m - From: 365 m - To: 367 m - Intercept Depth: 365 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:365-367 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of gold in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No gold \(-0.01 g/t\) in this intercept. Evidence · table > -0.01 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-31) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2 m - From: 365 m - To: 367 m - Intercept Depth: 365 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:365-367 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of tin in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No tin \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-32) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 274 - Grade Unit: g/t - Intercept: 2.2 m - From: 370.5 m - To: 372.7 m - Intercept Depth: 370.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:370.5-372.7 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This strong silver grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Strong silver grade \(274 g/t\) in the Maestries replacement zone, above the project's average silver grade. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(7.2%\) as a deleterious element. Evidence · table > 274 Context: 2.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-33) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 7.2 - Grade Unit: % - Intercept: 2.2 m - From: 370.5 m - To: 372.7 m - Intercept Depth: 370.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:370.5-372.7 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The high arsenic grade, while part of a new intercept, is a negative factor due to its deleterious nature, potentially impacting future processing and economic viability. - Negative factor: High percentage of arsenic \(7.2%\) indicates a significant deleterious element that could complicate processing and incur penalties. Evidence · table > 7.2 Context: 2.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-34) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2.2 m - From: 370.5 m - To: 372.7 m - Intercept Depth: 370.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:370.5-372.7 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of copper in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No copper \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-35) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 1 - Grade Unit: % - Intercept: 2.2 m - From: 370.5 m - To: 372.7 m - Intercept Depth: 370.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:370.5-372.7 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This moderate lead grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Moderate lead grade \(1.0%\) in the Maestries replacement zone. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(7.2%\) as a deleterious element. Evidence · table > 1.0 Context: 2.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-36) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 2.9 - Grade Unit: % - Intercept: 2.2 m - From: 370.5 m - To: 372.7 m - Intercept Depth: 370.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:370.5-372.7 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This moderate zinc grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Moderate zinc grade \(2.9%\) in the Maestries replacement zone. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(7.2%\) as a deleterious element. Evidence · table > 2.9 Context: 2.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-37) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.1 - Grade Unit: % - Intercept: 2.2 m - From: 370.5 m - To: 372.7 m - Intercept Depth: 370.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:370.5-372.7 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The antimony grade is weak, but its presence contributes to the polymetallic nature of the Maestries replacement zone, though it's offset by the deleterious arsenic and partial AgEq calculation. - Negative factor: Weak antimony grade \(0.1%\) for a polymetallic system. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(7.2%\) as a deleterious element. Evidence · table > 0.1 Context: 2.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-38) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.81 - Grade Unit: g/t - Intercept: 2.2 m - From: 370.5 m - To: 372.7 m - Intercept Depth: 370.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:370.5-372.7 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This moderate gold grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Moderate gold grade \(0.81 g/t\) in the Maestries replacement zone, above the project's average gold grade. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(7.2%\) as a deleterious element. Evidence · table > 0.81 Context: 2.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-39) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2.2 m - From: 370.5 m - To: 372.7 m - Intercept Depth: 370.5 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:370.5-372.7 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of tin in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No tin \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-40) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 22 - Grade Unit: g/t - Intercept: 1 m - From: 380 m - To: 381 m - Intercept Depth: 380 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:380-381 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak silver grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak silver grade \(22 g/t\) for a polymetallic system, below the project's average silver grade. Evidence · table > 22 Context: 1.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-41) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.4 - Grade Unit: % - Intercept: 1 m - From: 380 m - To: 381 m - Intercept Depth: 380 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:380-381 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The presence of arsenic, even at a lower grade, is a negative factor due to its deleterious nature, potentially impacting future processing and economic viability. - Negative factor: Presence of arsenic \(0.4%\) as a deleterious element. Evidence · table > 0.4 Context: 1.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-42) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 1 m - From: 380 m - To: 381 m - Intercept Depth: 380 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:380-381 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of copper in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No copper \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 1.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-43) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.7 - Grade Unit: % - Intercept: 1 m - From: 380 m - To: 381 m - Intercept Depth: 380 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:380-381 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak lead grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak lead grade \(0.7%\) for a polymetallic system, below the project's average lead grade. Evidence · table > 0.7 Context: 1.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-44) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.5 - Grade Unit: % - Intercept: 1 m - From: 380 m - To: 381 m - Intercept Depth: 380 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:380-381 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak zinc grade within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak zinc grade \(0.5%\) for a polymetallic system. Evidence · table > 0.5 Context: 1.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-45) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 1 m - From: 380 m - To: 381 m - Intercept Depth: 380 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:380-381 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of antimony in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No antimony \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 1.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-46) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.01 - Grade Unit: g/t - Intercept: 1 m - From: 380 m - To: 381 m - Intercept Depth: 380 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:380-381 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak gold grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak gold grade \(0.01 g/t\) for a polymetallic system, below the project's average gold grade. Evidence · table > 0.01 Context: 1.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-47) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 1 m - From: 380 m - To: 381 m - Intercept Depth: 380 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:380-381 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of tin in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No tin \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 1.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-48) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 36 - Grade Unit: g/t - Intercept: 4.2 m - From: 411.8 m - To: 416 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-416 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak silver grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak silver grade \(36 g/t\) for a polymetallic system, below the project's average silver grade. Evidence · table > 36 Context: 4.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-49) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.1 - Grade Unit: % - Intercept: 4.2 m - From: 411.8 m - To: 416 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-416 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The presence of arsenic, even at a lower grade, is a negative factor due to its deleterious nature, potentially impacting future processing and economic viability. - Negative factor: Presence of arsenic \(0.1%\) as a deleterious element. Evidence · table > 0.1 Context: 4.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-50) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 4.2 m - From: 411.8 m - To: 416 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-416 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of copper in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No copper \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 4.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-51) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 1.7 - Grade Unit: % - Intercept: 4.2 m - From: 411.8 m - To: 416 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-416 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This moderate lead grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Moderate lead grade \(1.7%\) in the Maestries replacement zone. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(0.1%\) as a deleterious element. Evidence · table > 1.7 Context: 4.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-52) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 4.1 - Grade Unit: % - Intercept: 4.2 m - From: 411.8 m - To: 416 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-416 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This moderate zinc grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Moderate zinc grade \(4.1%\) in the Maestries replacement zone. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(0.1%\) as a deleterious element. Evidence · table > 4.1 Context: 4.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-53) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 4.2 m - From: 411.8 m - To: 416 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-416 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of antimony in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No antimony \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 4.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-54) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: g/t - Intercept: 4.2 m - From: 411.8 m - To: 416 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-416 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of gold in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No gold \(0.0 g/t\) in this intercept. Evidence · table > 0.00 Context: 4.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-55) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 4.2 m - From: 411.8 m - To: 416 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-416 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of tin in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No tin \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 4.2 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-56) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 44 - Grade Unit: g/t - Intercept: 2.5 m - From: 411.8 m - To: 414.3 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-414.3 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak silver grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak silver grade \(44 g/t\) for a polymetallic system, below the project's average silver grade. Evidence · table > 44 Context: 2.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-57) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.2 - Grade Unit: % - Intercept: 2.5 m - From: 411.8 m - To: 414.3 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-414.3 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The presence of arsenic, even at a lower grade, is a negative factor due to its deleterious nature, potentially impacting future processing and economic viability. - Negative factor: Presence of arsenic \(0.2%\) as a deleterious element. Evidence · table > 0.2 Context: 2.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-58) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2.5 m - From: 411.8 m - To: 414.3 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-414.3 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of copper in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No copper \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-59) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 2.4 - Grade Unit: % - Intercept: 2.5 m - From: 411.8 m - To: 414.3 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-414.3 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This strong lead grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Strong lead grade \(2.4%\) in the Maestries replacement zone, matching prior best for the project. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(0.2%\) as a deleterious element. Evidence · table > 2.4 Context: 2.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-60) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 6.1 - Grade Unit: % - Intercept: 2.5 m - From: 411.8 m - To: 414.3 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-414.3 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This moderate zinc grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Moderate zinc grade \(6.1%\) in the Maestries replacement zone. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(0.2%\) as a deleterious element. Evidence · table > 6.1 Context: 2.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-61) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2.5 m - From: 411.8 m - To: 414.3 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-414.3 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of antimony in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No antimony \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-62) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: g/t - Intercept: 2.5 m - From: 411.8 m - To: 414.3 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-414.3 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of gold in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No gold \(0.0 g/t\) in this intercept. Evidence · table > 0.00 Context: 2.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-63) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2.5 m - From: 411.8 m - To: 414.3 m - Intercept Depth: 411.8 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:411.8-414.3 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of tin in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No tin \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.5 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-64) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 39 - Grade Unit: g/t - Intercept: 5.9 m - From: 420.6 m - To: 426.5 m - Intercept Depth: 420.6 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:420.6-426.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak silver grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak silver grade \(39 g/t\) for a polymetallic system, below the project's average silver grade. Evidence · table > 39 Context: 5.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-65) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 1.7 - Grade Unit: % - Intercept: 5.9 m - From: 420.6 m - To: 426.5 m - Intercept Depth: 420.6 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:420.6-426.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The high arsenic grade, while part of a new intercept, is a negative factor due to its deleterious nature, potentially impacting future processing and economic viability. - Negative factor: High percentage of arsenic \(1.7%\) indicates a significant deleterious element that could complicate processing and incur penalties. Evidence · table > 1.7 Context: 5.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-66) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.1 - Grade Unit: % - Intercept: 5.9 m - From: 420.6 m - To: 426.5 m - Intercept Depth: 420.6 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:420.6-426.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The weak copper grade contributes to the polymetallic nature of the Maestries replacement zone, though it's offset by the deleterious arsenic and partial AgEq calculation. - Negative factor: Weak copper grade \(0.1%\) for a polymetallic system. Evidence · table > 0.1 Context: 5.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-67) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.5 - Grade Unit: % - Intercept: 5.9 m - From: 420.6 m - To: 426.5 m - Intercept Depth: 420.6 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:420.6-426.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak lead grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak lead grade \(0.5%\) for a polymetallic system, below the project's average lead grade. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(1.7%\) as a deleterious element. Evidence · table > 0.5 Context: 5.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-68) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 3.8 - Grade Unit: % - Intercept: 5.9 m - From: 420.6 m - To: 426.5 m - Intercept Depth: 420.6 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:420.6-426.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This moderate zinc grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Moderate zinc grade \(3.8%\) in the Maestries replacement zone. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(1.7%\) as a deleterious element. Evidence · table > 3.8 Context: 5.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-69) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 5.9 m - From: 420.6 m - To: 426.5 m - Intercept Depth: 420.6 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:420.6-426.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of antimony in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No antimony \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 5.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-70) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.23 - Grade Unit: g/t - Intercept: 5.9 m - From: 420.6 m - To: 426.5 m - Intercept Depth: 420.6 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:420.6-426.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak gold grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak gold grade \(0.23 g/t\) for a polymetallic system, below the project's average gold grade. Evidence · table > 0.23 Context: 5.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-71) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 5.9 m - From: 420.6 m - To: 426.5 m - Intercept Depth: 420.6 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:420.6-426.5 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of tin in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No tin \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 5.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-72) Montezuma Silver & Antimony · silver #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: silver - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 41 - Grade Unit: g/t - Intercept: 2.9 m - From: 421.1 m - To: 424 m - Intercept Depth: 421.1 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:421.1-424 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak silver grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak silver grade \(41 g/t\) for a polymetallic system, below the project's average silver grade. Evidence · table > 41 Context: 2.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-73) Montezuma Silver & Antimony · arsenic #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: arsenic - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 1.3 - Grade Unit: % - Intercept: 2.9 m - From: 421.1 m - To: 424 m - Intercept Depth: 421.1 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:421.1-424 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The high arsenic grade, while part of a new intercept, is a negative factor due to its deleterious nature, potentially impacting future processing and economic viability. - Negative factor: High percentage of arsenic \(1.3%\) indicates a significant deleterious element that could complicate processing and incur penalties. Evidence · table > 1.3 Context: 2.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-74) Montezuma Silver & Antimony · copper #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: copper - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.1 - Grade Unit: % - Intercept: 2.9 m - From: 421.1 m - To: 424 m - Intercept Depth: 421.1 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:421.1-424 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The weak copper grade contributes to the polymetallic nature of the Maestries replacement zone, though it's offset by the deleterious arsenic and partial AgEq calculation. - Negative factor: Weak copper grade \(0.1%\) for a polymetallic system. Evidence · table > 0.1 Context: 2.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-75) Montezuma Silver & Antimony · lead #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: lead - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.4 - Grade Unit: % - Intercept: 2.9 m - From: 421.1 m - To: 424 m - Intercept Depth: 421.1 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:421.1-424 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak lead grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak lead grade \(0.4%\) for a polymetallic system, below the project's average lead grade. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(1.3%\) as a deleterious element. Evidence · table > 0.4 Context: 2.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-76) Montezuma Silver & Antimony · zinc #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: zinc - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 7.1 - Grade Unit: % - Intercept: 2.9 m - From: 421.1 m - To: 424 m - Intercept Depth: 421.1 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:421.1-424 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This moderate zinc grade within the Maestries replacement zone contributes positively to the polymetallic system, despite the presence of arsenic and the partial AgEq calculation. - Positive factor: Moderate zinc grade \(7.1%\) in the Maestries replacement zone. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: Presence of arsenic \(1.3%\) as a deleterious element. Evidence · table > 7.1 Context: 2.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-77) Montezuma Silver & Antimony · antimony #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: antimony - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2.9 m - From: 421.1 m - To: 424 m - Intercept Depth: 421.1 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:421.1-424 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of antimony in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No antimony \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-78) Montezuma Silver & Antimony · gold #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: gold - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0.15 - Grade Unit: g/t - Intercept: 2.9 m - From: 421.1 m - To: 424 m - Intercept Depth: 421.1 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:421.1-424 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept shows a weak gold grade, below the project average, within the Maestries replacement zone, indicating lower-grade mineralization in this section. - Negative factor: Weak gold grade \(0.15 g/t\) for a polymetallic system, below the project's average gold grade. Evidence · table > 0.15 Context: 2.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### MZS43 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-79) Montezuma Silver & Antimony · tin #### Identity - Hole ID: MZS43 - Project: Montezuma Silver & Antimony - Commodity: tin - Region: australia\_tas - Reported Region: australia\_tas - Ticker: LDR #### Geometry - Grade: 0 - Grade Unit: % - Intercept: 2.9 m - From: 421.1 m - To: 424 m - Intercept Depth: 421.1 m #### Classification - Deposit Type: epithermal - Program: exploration - Sample Type: drill - Group ID: MZS43:421.1-424 - Mining Method: underground #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: Yes - Deleterious Elements: arsenic #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The absence of tin in this intercept indicates it does not contribute to the polymetallic value in this section. - Negative factor: No tin \(0.0%\) in this intercept. Evidence · table > 0.0 Context: 2.9 #### Tags used in scoring **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: qaqc\_disclosed is not 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 **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: deleterious\_flag is true ### KTN018 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-80) Uralla West · gold #### Identity - Hole ID: KTN018 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 1 - Grade Unit: g/t - Intercept: 9 m - From: 24 m - To: 33 m - Intercept Depth: 24 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN018:24-33 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, aligning with the project's average grades and supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(1.00 g/t\) over a significant width \(9.0m\), consistent with the project's average and supporting the IRGS model. Evidence · table > 1.00 Context: 9.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN018 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-81) Uralla West · gold #### Identity - Hole ID: KTN018 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 1.92 - Grade Unit: g/t - Intercept: 2 m - From: 31 m - To: 33 m - Intercept Depth: 31 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN018:31-33 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This high-grade sub-interval within a broader zone of mineralization indicates stronger gold concentrations, further supporting the project's potential. - Positive factor: Strong gold grade \(1.92 g/t\) in a high-grade sub-interval, exceeding the project's average gold grade. Evidence · table > 1.92 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN023 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-82) Uralla West · gold #### Identity - Hole ID: KTN023 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 1.22 - Grade Unit: g/t - Intercept: 6 m - From: 26 m - To: 32 m - Intercept Depth: 26 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN023:26-32 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, exceeding the project's average grades and supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(1.22 g/t\) over a good width \(6.0m\), above the project's average gold grade and supporting the IRGS model. Evidence · table > 1.22 Context: 6.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN023 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-83) Uralla West · gold #### Identity - Hole ID: KTN023 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 2.11 - Grade Unit: g/t - Intercept: 3 m - From: 28 m - To: 31 m - Intercept Depth: 28 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN023:28-31 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This high-grade sub-interval within a broader zone of mineralization indicates stronger gold concentrations, further supporting the project's potential. - Positive factor: Strong gold grade \(2.11 g/t\) in a high-grade sub-interval, exceeding the project's average gold grade. Evidence · table > 2.11 Context: 3.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN027A [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-84) Uralla West · gold #### Identity - Hole ID: KTN027A - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 3.35 - Grade Unit: g/t - Intercept: 2 m - From: 30 m - To: 32 m - Intercept Depth: 30 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN027A:30-32 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms high-grade gold mineralization, matching previous best results and further supporting the Intrusive Related Gold System model. - Positive factor: Strong gold grade \(3.35 g/t\) matching the project's prior best gold grade, supporting the IRGS model. Evidence · table > 3.35 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN025 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-85) Uralla West · gold #### Identity - Hole ID: KTN025 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 1.51 - Grade Unit: g/t - Intercept: 4 m - From: 16 m - To: 20 m - Intercept Depth: 16 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN025:16-20 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, exceeding the project's average grades and supporting the Intrusive Related Gold System model. - Positive factor: Strong gold grade \(1.51 g/t\) over a good width \(4.0m\), above the project's average gold grade and supporting the IRGS model. Evidence · table > 1.51 Context: 4.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN025 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-86) Uralla West · gold #### Identity - Hole ID: KTN025 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 2.53 - Grade Unit: g/t - Intercept: 2 m - From: 17 m - To: 19 m - Intercept Depth: 17 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN025:17-19 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This high-grade sub-interval within a broader zone of mineralization indicates stronger gold concentrations, further supporting the project's potential. - Positive factor: Strong gold grade \(2.53 g/t\) in a high-grade sub-interval, exceeding the project's average gold grade. Evidence · table > 2.53 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN021 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-87) Uralla West · gold #### Identity - Hole ID: KTN021 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.57 - Grade Unit: g/t - Intercept: 10 m - From: 27 m - To: 37 m - Intercept Depth: 27 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN021:27-37 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(0.57 g/t\) over a significant width \(10.0m\), supporting the IRGS model. Evidence · table > 0.57 Context: 10.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN021 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-88) Uralla West · gold #### Identity - Hole ID: KTN021 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 1 - Grade Unit: g/t - Intercept: 5 m - From: 32 m - To: 37 m - Intercept Depth: 32 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN021:32-37 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This sub-interval within a broader zone of mineralization indicates consistent gold concentrations, further supporting the project's potential. - Positive factor: Moderate gold grade \(1.00 g/t\) in a sub-interval, consistent with the project's average and supporting the IRGS model. Evidence · table > 1.00 Context: 5.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN031A [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-89) Uralla West · gold #### Identity - Hole ID: KTN031A - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 1.02 - Grade Unit: g/t - Intercept: 5 m - From: 20 m - To: 25 m - Intercept Depth: 20 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN031A:20-25 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, aligning with the project's average grades and supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(1.02 g/t\) over a good width \(5.0m\), consistent with the project's average and supporting the IRGS model. Evidence · table > 1.02 Context: 5.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN026A [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-90) Uralla West · gold #### Identity - Hole ID: KTN026A - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.72 - Grade Unit: g/t - Intercept: 6 m - From: 58 m - To: 64 m - Intercept Depth: 58 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN026A:58-64 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(0.72 g/t\) over a good width \(6.0m\), supporting the IRGS model. Evidence · table > 0.72 Context: 6.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN026A [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-91) Uralla West · gold #### Identity - Hole ID: KTN026A - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 3.19 - Grade Unit: g/t - Intercept: 1 m - From: 63 m - To: 64 m - Intercept Depth: 63 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN026A:63-64 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This high-grade sub-interval within a broader zone of mineralization indicates stronger gold concentrations, further supporting the project's potential. - Positive factor: Strong gold grade \(3.19 g/t\) in a high-grade sub-interval, exceeding the project's average gold grade. Evidence · table > 3.19 Context: 1.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN017B [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-92) Uralla West · gold #### Identity - Hole ID: KTN017B - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.9 - Grade Unit: g/t - Intercept: 4 m - From: 46 m - To: 50 m - Intercept Depth: 46 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN017B:46-50 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(0.90 g/t\) over a good width \(4.0m\), supporting the IRGS model. Evidence · table > 0.90 Context: 4.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN017B [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-93) Uralla West · gold #### Identity - Hole ID: KTN017B - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 1.55 - Grade Unit: g/t - Intercept: 2 m - From: 46 m - To: 48 m - Intercept Depth: 46 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN017B:46-48 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This high-grade sub-interval within a broader zone of mineralization indicates stronger gold concentrations, further supporting the project's potential. - Positive factor: Strong gold grade \(1.55 g/t\) in a high-grade sub-interval, exceeding the project's average gold grade. Evidence · table > 1.55 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN036 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-94) Uralla West · gold #### Identity - Hole ID: KTN036 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.31 - Grade Unit: g/t - Intercept: 11 m - From: 7 m - To: 18 m - Intercept Depth: 7 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN036:7-18 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model, despite the weak grade. - Positive factor: Weak gold grade \(0.31 g/t\) over a significant width \(11.0m\), supporting the IRGS model. Evidence · table > 0.31 Context: 11.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN036 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-95) Uralla West · gold #### Identity - Hole ID: KTN036 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.57 - Grade Unit: g/t - Intercept: 4 m - From: 13 m - To: 17 m - Intercept Depth: 13 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN036:13-17 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This sub-interval within a broader zone of mineralization indicates consistent gold concentrations, further supporting the project's potential. - Positive factor: Moderate gold grade \(0.57 g/t\) in a sub-interval, supporting the IRGS model. Evidence · table > 0.57 Context: 4.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN027B [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-96) Uralla West · gold #### Identity - Hole ID: KTN027B - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.5 - Grade Unit: g/t - Intercept: 5 m - From: 64 m - To: 69 m - Intercept Depth: 64 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN027B:64-69 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(0.50 g/t\) over a good width \(5.0m\), supporting the IRGS model. Evidence · table > 0.50 Context: 5.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN030 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-97) Uralla West · gold #### Identity - Hole ID: KTN030 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.41 - Grade Unit: g/t - Intercept: 6 m - From: 74 m - To: 80 m - Intercept Depth: 74 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN030:74-80 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model, despite the weak grade. - Positive factor: Weak gold grade \(0.41 g/t\) over a good width \(6.0m\), supporting the IRGS model. Evidence · table > 0.41 Context: 6.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN031B [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-98) Uralla West · gold #### Identity - Hole ID: KTN031B - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.42 - Grade Unit: g/t - Intercept: 4 m - From: 47 m - To: 51 m - Intercept Depth: 47 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN031B:47-51 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model, despite the weak grade. - Positive factor: Weak gold grade \(0.42 g/t\) over a good width \(4.0m\), supporting the IRGS model. Evidence · table > 0.42 Context: 4.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN028 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-99) Uralla West · gold #### Identity - Hole ID: KTN028 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.53 - Grade Unit: g/t - Intercept: 3 m - From: 43 m - To: 46 m - Intercept Depth: 43 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN028:43-46 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(0.53 g/t\) over a good width \(3.0m\), supporting the IRGS model. Evidence · table > 0.53 Context: 3.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN033 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-100) Uralla West · gold #### Identity - Hole ID: KTN033 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.36 - Grade Unit: g/t - Intercept: 4 m - From: 22 m - To: 26 m - Intercept Depth: 22 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN033:22-26 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model, despite the weak grade. - Positive factor: Weak gold grade \(0.36 g/t\) over a good width \(4.0m\), supporting the IRGS model. Evidence · table > 0.36 Context: 4.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN017A [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-101) Uralla West · gold #### Identity - Hole ID: KTN017A - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.71 - Grade Unit: g/t - Intercept: 2 m - From: 38 m - To: 40 m - Intercept Depth: 38 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN017A:38-40 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms near-surface gold mineralization, supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(0.71 g/t\) over a narrow width \(2.0m\), supporting the IRGS model. Evidence · table > 0.71 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN044 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-102) Uralla West · gold #### Identity - Hole ID: KTN044 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.45 - Grade Unit: g/t - Intercept: 3 m - From: 43 m - To: 46 m - Intercept Depth: 43 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN044:43-46 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model, despite the weak grade. - Positive factor: Weak gold grade \(0.45 g/t\) over a good width \(3.0m\), supporting the IRGS model. Evidence · table > 0.45 Context: 3.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN022 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-103) Uralla West · gold #### Identity - Hole ID: KTN022 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.57 - Grade Unit: g/t - Intercept: 2 m - From: 33 m - To: 35 m - Intercept Depth: 33 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN022:33-35 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms near-surface gold mineralization, supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(0.57 g/t\) over a narrow width \(2.0m\), supporting the IRGS model. Evidence · table > 0.57 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN043 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-104) Uralla West · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: KTN043 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.35 - Grade Unit: g/t - Intercept: 3 m - From: 22 m - To: 25 m - Intercept Depth: 22 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN043:22-25 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model, despite the weak grade. - Positive factor: Weak gold grade \(0.35 g/t\) over a good width \(3.0m\), supporting the IRGS model. Evidence · table > 0.35 Context: 3.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN032 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-105) Uralla West · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: KTN032 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.52 - Grade Unit: g/t - Intercept: 2 m - From: 1 m - To: 3 m - Intercept Depth: 1 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN032:1-3 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms near-surface gold mineralization, supporting the Intrusive Related Gold System model. - Positive factor: Moderate gold grade \(0.52 g/t\) over a narrow width \(2.0m\) at shallow depth, supporting the IRGS model. Evidence · table > 0.52 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN026B [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-106) Uralla West · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: KTN026B - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.49 - Grade Unit: g/t - Intercept: 2 m - From: 75 m - To: 77 m - Intercept Depth: 75 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN026B:75-77 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms near-surface gold mineralization, supporting the Intrusive Related Gold System model, despite the weak grade. - Positive factor: Weak gold grade \(0.49 g/t\) over a narrow width \(2.0m\), supporting the IRGS model. Evidence · table > 0.49 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN034 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-107) Uralla West · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: KTN034 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.32 - Grade Unit: g/t - Intercept: 3 m - From: 34 m - To: 37 m - Intercept Depth: 34 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN034:34-37 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms broad zones of near-surface gold mineralization, supporting the Intrusive Related Gold System model, despite the weak grade. - Positive factor: Weak gold grade \(0.32 g/t\) over a good width \(3.0m\), supporting the IRGS model. Evidence · table > 0.32 Context: 3.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ### KTN041 [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-drill-facts-108) Uralla West · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: KTN041 - Project: Uralla West - Commodity: gold - Region: australia\_nsw - Reported Region: australia\_nsw - Ticker: LDR #### Geometry - Grade: 0.38 - Grade Unit: g/t - Intercept: 2 m - From: 32 m - To: 34 m - Intercept Depth: 32 m #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Group ID: KTN041:32-34 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: This intercept confirms near-surface gold mineralization, supporting the Intrusive Related Gold System model, despite the weak grade. - Positive factor: Weak gold grade \(0.38 g/t\) over a narrow width \(2.0m\), supporting the IRGS model. Evidence · table > 0.38 Context: 2.0 #### Tags used in scoring **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: qaqc\_disclosed is not 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 ## Resource Estimates (1) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ldr-quarterly-activities-appendix-5b-cash-flow-report--ce425da3-007e-4d6c-9341-fa6188ece848#fact-resource-facts-109) Montezuma Silver & Antimony Project · silver #### Identity - Project: Montezuma Silver & Antimony Project - Commodity: silver - Region: australia\_tas - Reported Region: Tasmania - Ticker: LDR #### Resource scope - Estimate type: resource - Effective date: 2026-09-30T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:970c0d916326fb8cb841 #### Resource Data - Category: indicated - Tonnes: 480000 - Contained Metal: 8.2 - Contained Unit: moz - Cutoff Grade: 200 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 533 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: The Montezuma maiden resource, with a high proportion of Indicated material and strong silver equivalent grades, provides a solid foundation for the project, despite the partial metal equivalent calculation and the resource remaining open. - Positive factor: Maiden resource estimate for Montezuma Silver & Antimony Project establishes a baseline for future growth. - Positive factor: High percentage of Indicated resource \(65%\) provides a strong foundation for future studies. - Positive factor: High silver equivalent grade \(533 g/t AgEq\) indicates significant metal endowment. - Positive factor: JORC \(2012\) compliant and QP signed, ensuring high reporting standards. - Negative factor: Metal equivalent calculation excludes tin and gold, potentially understating the full value. - Negative factor: The resource is open in all directions, indicating potential for further growth but also current incompleteness. Evidence · text > The current Montezuma JORC \(2012\) MRE of 480kt at 533g/t AgEq1 for 8.2Moz AgEq1 is reported at a 200g/t AgEq1 cut-off, with 65% of the resource classified as Indicated. #### 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 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 ## 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.