Quarterly Activities/Appendix 5B Cash Flow Report for the Period Ending 30 September 2023

Winsome Resources (ASX:WR1; “Winsome” or “the Company”) is pleased to provide this report on activities for the quarter ending 30 September 2023.

QUARTER HIGHLIGHTS

DRILLING & EXPLORATION

• Drilling recommences following the wildfire shutdown period, with five rigs being mobilised to the flagship Adina project
• Strike length of Adina Main Zone increased following delivery of further thick, high-grade results
• Extension of high-grade mineralisation towards surface at Adina Footwall Zone confirmed with results including up to 1.80% Li2O over 23.4m
• Airbourne magnetic and radiometric survey of Adina-Jackpot to support anomaly definition and inform future lithium drill targets

CORPORATE

• Quebec presence bolstered following office opening in Val-d’Or with expansion to Mistissini or Chibougamau under consideration
• Ownership stake in Canadian lithium-focused Power Metals Corp (TSX-V:PWM) increased to 19.6%
• MOU signed with neighbouring Loyal Lithium (ASX:LLI) to minimise environmental impact of exploration operations
• Multiple shareholder updates provided through ongoing webinar series, with almost 560 people engaging to hear from Managing Director to date
• Raised A$34M subsequent to quarter end at $2.38 per share, using Canadian Flow Through Shares

HEALTH & SAFETY

• Exploration resumes following wildfires in Quebec with no reported damage to Company assets
• Continue to record zero safety incidents throughout exploration and drill campaigns

DRILLING & EXPLORATION ACTIVITIES

HEALTH AND SAFETY

During the Quarter, there were no safety incidents from work carried out by the drilling and exploration crews operating at Adina, Cancet and Tilly. For much of the quarter however, field crews were stood down due to the wildfires in Quebec. The Company is placing a particular focus on Health and Safety with the remobilisation to site post fires.

The wellbeing of employees, contractors, and all stakeholders remains paramount for the Company. Winsome is pleased to report all personnel were evacuated safely during the wildfires in Quebec this quarter and have been redeployed onto site.

EXPLORATION RESTARTS FOLLOWING WILDFIRES

Restrictions imposed during the devastating wildfires in Quebec were lifted this quarter1, allowing the Company to return its team back to site. Winsome was pleased to report no damage to the Company’s assets, however there was some damage to drilling and ancillary equipment owned by contractor RJLL.

Five drill rigs are being mobilised to site as exploration recommenced in September, focusing on high priority targets in the main and footwall zones of Adina, which the Company aims to further define ahead of resource modelling later in 2023. Efforts are focused on ensuring adequate data density over the 1km of mineralisation defined by previous drilling, with the goal of informing the Company’s maiden Mineral Resource.

The next phase of exploration activities was planned ahead of the quarter’s end, and includes step out drilling to the north, west, and east of previous exploration work at Adina, as well as drilling of new exploration targets defined by gravity data across the Adina-Jackpot property.

Click here for the full ASX Release

This article includes content from Winsome Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.