EQ Resources December Blasting Mining Sequence

🚀 December Blasting Update | Mt Carbine Tungsten Mine

December marked a strong close to the quarter for EQ Resources, with sustained operational momentum across Mt Carbine (Australia) and Barruecopardo (Spain) contributing to a 33% quarter-on-quarter increase in contained tungsten (WO₃) production, as reported to ASX.

At Mt Carbine, activity remained focused on South Wall stripping and pushback, a critical step toward unlocking access to the high-grade Iolanthe vein system in early 2026.

December highlights (as at 31 December 2025):
• 20,399 metres drilled — record month
• 344,318 tonnes blasted — record volume
• 309,248 tonnes mined — record output
• 296,739 tonnes advanced on the Southern Wall
• 24/7 mining maintained, supporting consistent material movement and sequencing
(with periodic weather-related pauses due to summer storm activity)

Drill-and-blast operations at Mt Carbine are now fully in-house, supported by two Sandvik rigs financed through Yellowgate, with explosives supplied by Orica. Elevated performance achieved in November was sustained through December as stripping progressed.

Understanding RL (Reduced Level):
RL represents elevation above sea level for each 10 m mining bench. At Mt Carbine, the Iolanthe vein system is intersected around 345 m RL, with ore zones thickening below ~300 m RL, meaning each descending bench brings operations closer to the core ore horizon.

📄 Production context:
EQ Resources produced 38,292 mtu of contained tungsten (WO₃) in the quarter ended 31 December 2025 — a 33% QoQ increase, driven by operational performance across both operating sites.

🎯 Powering Progress. Unlocking the Iolanthe.

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