Key Highlights

• Study results highlight strong economics over a multi-decade operation at Goschen Central heavy mineral sand and rare earth element Project.
• Robust economics of integrated mining and downstream rare earth element (REE) processing validates the ACDC Metals Strategy, and demonstrates the unique value add of our proprietary processing technology.
• Significant upside opportunities exist by including finer heavy mineral fractions in the mineral resource, and resource expansion with recent extension drilling.
• Potential for further optimisation of the product suite from rare earth element processing plant.
• Testwork in progress for the next phase of development


ACDC Metals Limited (ASX: ADC) (ACDC Metals or the Company) is pleased to announce the results of the “Goschen Central Scoping Study” (the “Study”) completed by independent engineering consulting firms Mineral Technologies Ltd and METS Engineering Group Ltd. The Goschen Central project provides compelling economics as a heavy mineral sand and rare earth producer as either a standalone heavy mineral sand plant (Phase 1) or when combined with the vertical integration with ACDC Metals’ proprietary Rare Earth Processing Plant Project (Phase 2). Phase 2 enables onshore downstream processing of REEs. The ADC board has unanimously recommended the project advance to the next phase of development.
ACDC Metals CEO Tom Davidson commented:

“The ACDC Metals team is very pleased with the results of the Scoping Study, a milestone that reflects a focused delivery in only 15 months from listing. Goschen Central is a generational-scale deposit that can deliver strong cashflows and still with plenty of upside remaining from further technical and exploration work.

The vertical integration using our proprietary technology to value-add the contained REEs is a first step in the downstream processing that delivers both attractive returns and a strategically important domestic source of critical metals.”

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Full Announcement Disclaimer and Cautionary Statement

For the full announcement as released through the ASX on 22 April 2024 please visit www.acdcmetals.com.au including to read the Disclaimer and Cautionary Statement

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About ACDC Metals
ACDC Metals is a heavy mineral sand and rare earth element explorer and developer focussed on projects in the Murray Basin of western Victoria, Australia. ACDC Metals is also developing its licenced downstream processing technology for its Rare Earth Processing plant (REPP) Project. The process extracts rare earth elements from monazite. Goschen Central is the ACDC Metals’ flagship project.

We refer shareholders and interested parties to the website www.acdcmetals.com.au where they can access the most recent corporate presentation, video interviews and other information.

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Key Highlights

* Validation and extension of new strandline discovery at Douglas Project.
* Samples being prepared for shipment, assays due in Q2 2024.
* 7,000 Drilling completed across Douglas, North Watchem and Goschen Central.

ACDC Metals Limited (ASX: ADC) (ACDC Metals or the Company) is pleased to announce the completion of 2024 Q1 aircore drill program across the Douglas, Goschen Central and North
Watchem projects. Over 7,000 metres were drilled across the heavy mineral sand (HMS) and rare
earth element (REE) projects to infill, extend and discover new mineralisation. Assays are being
reported progressively, however key visual results from ACDC Metals field team support the
previously disclosed new strandline discovery1.

ACDC Metals CEO Tom Davidson commented:

“It has been another successful drilling campaign by the ACDC Metals exploration team.
Our objectives for the campaign were to target a grade increase at Goschen Central and
cover further exploration at both North Watchem and Douglas.

Our Goschen Central campaign comprised over 2,200 metres of drilling, with all assays
received and reported2. Composites are now being prepared that will enable mineralogy
determination and increase our confidence in the existing resource estimate. These results
will enable a JORC estimate update mid-year.

The North Watchem campaign comprised over 5,000 metres, where our intent was to
further investigate the exciting results we obtained from our 2023 campaign, including the
validation of a strand line3 identified at North Watchem (EL7642).

Finally, our drilling at Douglas has been very encouraging, where logging on the rig by our
experienced geologists confirmed the new strandline which was inferred from 2023 drilling.
Initial visual results look positive and we are expediting these samples through the laboratory."

Douglas Project

ACDC Metals Douglas Project lies 30kms west of the Douglas Mineral Sands Mine (mining licence
MIN5367) which was operated by Iluka Resources Pty Ltd (Iluka) until 2012 and rehabilitation of the site
has been ongoing since then4. The wider Douglas area is known for multiple mineralised strandlines
forming the West Wimmera Strand Plain, including the four main strandlines of economic interest, which
are, Acapulco, Bondi, Bondi East, and Echo (from west to east, refer to figure 1 in ASX announcement 3 April 2024). Strandlines in this area
are characterised by their particularly thick, wide and high heavy mineral (HM) grades. There is also an
absence of cover sediments over much of the prospective beach sequence.

In 2023 ACDC drilled 2,338 metres across 47 holes at Douglas. Drilling intersected high grades with the
highlight being hole 23AC021 25.5m @ 2.9% total heavy mineral (THM) from 19.5m, including 7.5m @
6.16% THM from 21m5. The geological interpretation of this intersection suggested a new strandline
discovery. Typical drill spacing was 250 metres which is considered too broad for strandline delineation.

The recently completed 2024 drilling totalled 890 metres over 21 holes and was targeted to infill this
interpreted strandline, with drill holes spaced at 25 metres. Logging of drill samples during the 2024 program
by ACDC Metals onsite geologists has indicated a very encouraging zone of interpreted thick mineralisation
rich in heavy minerals which extends up to 100m either side of drill hole 23AC021 and remains open to the
west. It should be noted that visual estimates and laboratory assays do not always align.

Encouraged by the field observations all samples from the 2024 program are currently being fast tracked for
assay, with results expected within 4-6 weeks.

The mineralisation style and geometry appear similar to the Iluka’s Douglas group of deposits which
totalled 125mt @ 9.8% THM (Iluka, 2002) prior to mining. Examples of other strandline systems in the
Murray Basin are provided in Table 1 of the announcement released to the ASX on 3 April 2024 which can be obtained from the company website www.acdcmetals.com.au.

1 ACDC Metals – ASX Announcement 6 December 2023, ACDC’s Douglas Project Drill Results Indicate
High Grade Strandline-Style Mineralisation.
2 ACDC Metals – ASX Announcement 15 March 2024, Exceptional drill results at Goschen Central.
3 ACDC Metals – ASX Announcement 15 August 2023, ACDC hits high grade intervals at Watchem Project.
4 www.iluka.com/community-engagement/douglas/
5 ACDC Metals – ASX Announcement 6 December 2023, ACDC’s Douglas Project Drill Results Indicate High Grade Strandline-Style Mineralisation.

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