NORTH077 Annual Report 2020 V5.2 DIGITAL

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20 NORTHERN MINERALS _ ANNUAL REPORT 2021 Dazzler The Dazzler deposit is located less than 15 kilometres south of the Browns Range Pilot Plant on the edge of a small scarp slope. In April 2020 an updated Mineral Resource estimate for Dazzler was completed. An Inferred Mineral Resource of 214,000 tonnes at 2.33% TREO comprising 5,000,000 kilograms contained TREO using a cut-off of 0.15% TREO was estimated (ASX announcement on 7 April 2020). The grade of the Dazzler deposit is more than three times the average for the Total Browns Range Project Mineral Resource with 95% of the rare earths being heavy rare earths and the average grade of dysprosium being 2,170ppm. Figure 2: Prospective SE “Dazzler Style” Corridor, including recent greenfields targets
21 The high-grade mineralisation occurs predominantly within an argillaceous metasediment which lies immediately below the Mesoproterozoic Gardiner Sandstone unit and directly above the unconformable contact with the older Archean Browns Range Metamorphics. The resource estimate includes three separate zones including the Iceman prospect, which are southeast of the main zone at Dazzler. Mineralisation also occurs within the Browns Range Metamorphics but this tends to be lower grade and has not been included in the resource estimate. Further drilling was completed in the second half of 2020 with infill drilling and step out drilling to the northwest. Figure 3: Dazzler and Iceman Prospects - Drill Hole Location Plan NORTHERN MINERALS _ ANNUAL REPORT 2021
Page 1 and 2: 2021 ANNUAL REPORT
Page 3 and 4: 1 Chairman’s Report NORTHERN MINE
Page 5 and 6: 3 CEO’S Report NORTHERN MINERALS
Page 7 and 8: 5 Ore Sorter: The ore sorting syste
Page 9 and 10: 7 ENVIROMMENT, SOCIAL & GOVERNANCE
Page 11 and 12: 9 field team to conduct pre-clearan
Page 13 and 14: 11 Executive Team Our executive tea
Page 15 and 16: 13 COO Report NORTHERN MINERALS _ A
Page 17 and 18: 15 Commissioned: The ore sorter cir
Page 19 and 20: 17 rare earths into groups of produ
Page 21: 19 EXPLORATION & GEOLOGY REPORT The
Page 25 and 26: 23 Figure 5: Banshee Prospect Drill
Page 27 and 28: 25 Browns Range Northern Territory
Page 29 and 30: 27 Ore Reserve and Mineral Resource
Page 31 and 32: 29 Mineral Resource The Mineral Res
Page 33 and 34: 31 Comparison with previous years O
Page 35 and 36: 33 NORTHERN MINERALS LIMITED DIRECT
Page 47 and 48: 45 4. Service agreements NORTHERN M
Page 57 and 58: 55 NORTHERN MINERALS LIMITED CONSOL
Page 59 and 60: 57 NORTHERN MINERALS LIMITED CONSOL
Page 61 and 62: 59 2. Basis of Preparation (continu
Page 63 and 64: 61 NORTHERN MINERALS LIMITED NOTES
Page 65 and 66: 63 7. Income Tax Expense NORTHERN M
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71 NORTHERN MINERALS LIMITED NOTES
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73 9. Financial Risk Management (co
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77 9. Financial Risk Management (co
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85 11. Equity (continued) (i) Ordin
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93 17. Share-based Payments (contin
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97 19. Earnings per share NORTHERN
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99 21. Segment Information NORTHERN
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103 Auditor’s independence declar
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105 Key audit matter How our audit
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107 From the matters communicated w
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109 Project Location Tenement ID St
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111 b) Twenty largest shareholders
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113 CORPORATE DIRECTORY Northern Mi
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NORTH077 Annual Report 2020 V5.2 DIGITAL

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