Name of the Project
Woodlawn zinc/copper project.

Location
New South Wales, Australia.

Project Owner/s
Develop Global.

Project Description
Woodlawn is a high-grade zinc/copper/lead/gold/silver project.

The Woodlawn mine operated from 1978 to 1998 and processed 13.8-million tonnes of ore from the Woodlawn openpit, underground and minor satellite deposits

Following its closure, the project was acquired by Heron Resources. Heron developed the underground mine and processing plant, investing an estimated A$340-million in the project before it was put on care and maintenance in 2020. Heron was placed in administration in July 2021.

Develop completed its acquisition of Woodlawn and the extensive tenement package in May 2022.

Develop believes that the project has significant growth potential, having historically been underexplored and untested at depth. In particular, the company believes that Woodlawn has strong potential for extensions of existing deposits, which are open at depth and along strike, and for the discovery of additional lenses, with logical structural positions untested.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
Develop Global announced a A$50-million capital raise for several initiatives, including the potential restart of the Woodlawn zinc/copper project, in July 2023.

The company plans to undertake further drilling at Woodlawn to follow up on the recent significant exploration success and continue to expand the mineral inventory for the life-of-mine (LoM) plan.

It is focused on upgrading inferred resources to indicated resources, and extending the mineralised lenses at depth. Drilling will also test highly prospective electromagnetic conductors and new exploration targets.

An updated LoM plan at Woodlawn is expected in the September quarter of 2023.

Develop Global recently approved an A$8-million underground development at the project to enhance an early restart scenario.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Develop Resources, tel +61 8 6389 7400.