Widgiemooltha – Lithium

Project overview

Mt Marion, Bald Hill and Buldania projects all lie within 25km of Dynamic tenure
Directly adjacent to Develop Group’s (ASX: DVP) Dome North lithium project and Sinclair LCT mine
In March 2024, Dynamic entered into a binding joint venture and farm-in agreement with a 100% owned subsidiary of Mineral Resources Limited (ASX: MIN) (MinRes), whereby Dynamic will sell 40% of its lithium rights on the Widgiemooltha Project for a purchase price of $5m (subject to conditions):
- MinRes can sole fund $15M of expenditure over 4 years to increase its stake in the JV to 65% (“Stage 2”)
- At the completion of Stage 2, MinRes may elect to increase its stake in the JV to 80% by sole funding expenditure through to a Decision to Mine (“Stage 3”)
- At the completion of Stage 3, Dynamic may contribute pro rata its proportion of JV costs going forward, or convert its interest into a royalty
- Dynamic retains rights to all minerals other than lithium over the Project and maintains access to all areas of the Project

Recent exploration success include Widgie Nickel Faraday spodumene discovery
- 600m x 25m wide outcropping pegmatite with high grade rock chip samples of 3.7%, 3.6%, 3.1%, 2.9% Li₂0
Virtually unexplored for lithium by previous holders so clean slate for exploration
600m strike of anomalous lithium in bottom of hole air core drilling (targeting gold) peaked at 853ppm lithium with associated Be, Sn, Ta and Cs (Franks Find)

Tenement granted May 2023 with limited historical geochemical information on lithium
Staged approach to lithium exploration reflects early stage of development
Soil sampling completed by Dynamic in August 2023 identified 2.8km lithium anomaly
Follow up auger sampling highlights new target PDWS01 with 182ppm Li, 328ppm Rb, 70ppm Cs
Further auger to refine targets planned in early 2024
Assess results and test with drilling