Polarx Ltd · ASX:PXX
Polarx — Investor Presentation (January 2024)
27 slides from Polarx's investor presentation, January 2024
Slide 1: Advancing High-Grade Discoveries
Advancing High-Grade Discoveries January 2024 ASX: PXX www.polarx.com.au 1
Slide 2: USA focus
ASX PXX USA focus Advancing Alaska Range Mine Development: Total JORC resource 11.2Mt; 269,375t Cu, 213,000oz Au and 3,131,000oz Ag. Mine Scoping Study:A$625m pre-tax NPV, A$223m Capex, 74% IRR. 1.6-year payback. Stellar Property (100% PXX) • 4.0Mt @ 1.1% Cu + 1.6g/t Au + 12.6g/t Ag JORC at Zackly P
Slide 3: Strong management backed by strong investors
ASX PXX Strong management backed by strong investors Key Executives and Management: Oct 2023 : Mr. Mark Bojanjac (Executive Chairman) MKT CAP: A$12.5M A Chartered Accountant with >25 years experience in the resource CASH: ~A1.0M sector. Has led many successful mining developments, including the disc
Slide 4: USA's Mineral Frontier
ASX PXX Alaska: USA’s Mineral Frontier TIER 1 Geology: One of the world’s great mineral provinces: • Over 40Moz Au mined to date • More than 200Moz Au under development/feasibility study • In the world’s most productive copper belt, >50Mt Cu in feasibility/permitting stage • World’s highest grade gi
Slide 5: Alaska Range Overview
ASX PXX Alaska Range: Overview 5 Alaska State Mining Claims) covering ~261km2 Caribou Dome • Earn-In JV Agreement at Caribou Dome (PXX earning 80%) and Senator (PXX earning 90%) • Massive sulphides remain open at depth and along strike • JORC resource more than doubled to 7.2Mt @ 3.1% Cu and 1.6g/t
Slide 6: Grade is King
ASX PXX Caribou Dome: Grade is King % World’s Highest Grade Copper Deposits vs Caribou Dome 6.0 5.5 5.5 5 5.0 4.8 4.3 4.4 4.1 4.2 4.0 3.5 3 3.1 3.0 2.7 2.0 1.0 0.0 Sources: *Ivanhoe Mines website PFS 2020. All others from miningforzambia.com “The ten highest grade copper mines in the world” 2019
Slide 7: Compelling Scoping Study
ASX PXX Caribou Dome & Zackly Combined: Compelling Scoping Study Revenue Total EBITDA 7 US$1,491 M US$825 M Total JORC resource est. of 11.2Mt containing: A$2,294 M ($0.65) A$1,269 M 269,375t Copper, C1 Cash Cost Operating Margin 213,000oz Gold, and US$1.36 / lb 55% A$2.10 / lb 11 3,131,000oz Silver
Slide 8: Sensitivity = Next Steps
Revenue ASX PXX Caribou Dome & Zackly Combined: Sensitivity = Next Steps Sensitivity Analysis indicates: Assuming constant grades $US M A$ M Metallurgy @0.65 Recently Increased Recovery and Concentrate grades delivered Base Case pre-tax NPV 406 625 the biggest uplift. Further metallurgical test-work
Slide 9: Key Metrics
ASX PXX Key Metrics 2100 11000 29 10500 2000 27 10000 9500 25 1900 9000 23 1800 8500 8000 21 1700 7500 19 7000 1600 17 6500 1500 6000 15 Aug 20 Dec 20 May 21 Oct 21 Mar 22 Aug 22 Jan 23 Jun 23 Aug 20 Dec 20 May 21 Oct 21 Mar 22 Aug 22 Jan 23 Jun 23 Aug 20 Dec 20 May 21 Oct 21 Mar 22 Aug 22 Jan 23 Ju
Slide 10: Very high-grade surface copper
ASX PXX Caribou Dome: Very high-grade surface copper 10 • 4-5% Copper from surface! • Drill intersections over >800m strike-length • Open in all directions • Many un-tested 3D-IP and soil anomalies within 1km of mineral resource • 80% earn-in completed by June 2024 after paying US$1.26M cash Possibl
Slide 11: High-grade Copper/Gold
ASX PXX Zackly Deposit: High-grade Copper/Gold 11 Long-section View Looking toward the North • 5km long skarn system with high-grade gold, copper and Zackly Main Skarn 4Mt @ 1.1% Cu, 1.6g/t Au, 12.6g/t Ag silver from surface and open to at least ~400m depth Sub-vertical 1km strike-length Average ~5m
Slide 12: 5km of copper/gold strike to be tested
ASX PXX Stellar Property, Zackly Deposit: 5km of copper/gold strike to be tested 12 • Zackly Main JORC resource is all within just 1km of strike and occurs along a structure with a strong magnetic gradient • Mineralisation now confirmed along strike over >800m East extending mineralised strike-lengt
Slide 13: Porphyry Copper/Gold potential
ASX PXX Stellar Property, Zackly Deposit: Porphyry Copper/Gold potential 13 Broad spaced (500m) soil sampling shows 2 highly significant copper anomalies, both >250ppm, ~11km x 6km in size MARS (Porphyry, skarn) • 2km x 1.5km soil anomaly with visible copper oxides at surface, up to 3,510ppm Cu and
Slide 14: Mars porphyry Cu-Au discovery
ASX PXX Stellar Property: Mars porphyry Cu-Au discovery • Porphyry Cu-Au discovered in first (and only) drill hole 3-D drill hole plot showing increasing copper grade 9MAR001: 102m @ 0.22% Cu + 0.1g/t Au (magenta discs) once into the zone of potassic alteration below a 1200m x 800m Cu-Au-As-Mo soil
Slide 15: High-grade Gold / Silver
ASX PXX Humboldt Range: High-grade Gold / Silver Star Canyon Project Highlights • +75% of USA’s annual gold production • Close to active multi million-ounce gold and silver mines • 2 claim blocks: Black Canyon and Fourth of July • Very high grades of Au and Ag in drilling, outcrop, historic workings
Slide 16: Black Canyon Claims
ASX PXX Humboldt Range: Black Canyon Claims • Owned by same family since 1950 Star Canyon 9.1m @ 124.36 g/t Au, 48.6 g/t Ag • Limited exploration since mining ceased in 1927 • High-grade assays from previous rock-chip sampling of outcropping veins and grab sampling from the dumps of old mine working
Slide 17: Scale and Proximity to a 5Moz operating gold mine
ASX PXX Black Canyon: Scale and Proximity to a 5Moz operating gold mine 5Moz Florida Canyon Gold Mine >2,700m anomaly trend including mineralised Quartz Veins, soils, alteration and Chargeability 17
Slide 18: Gold + Silver …. Everywhere
ASX PXX Star Canyon: Gold + Silver …. Everywhere 18 BC22-005: 9.1m @ 124.36 g/t Au, 48.6 g/t Ag 18
Slide 19: Bonanza veins AND Rochester Rhyolite
ASX PXX Bonanza veins AND Rochester Rhyolite FIRST DRILLING • Bonanza grades in quartz veins seen in BC22-005 9.1m @ 124g/t Au + 49g/t Ag • Immediately overlies 73.2m @ 0.3g/t Au + 1.2g/t Ag • Lower grade mineralisation is in Rochester Rhyolite: silicified volcanics with sulphide alteration • Struct
Slide 20: Soil sampling highlights scale of opportunity
ASX PXX Soil sampling highlights scale of opportunity • Detailed soil sampling outlined a 3km long gold anomaly • Contains outcropping high-grade veins such as the Monster Vein system • Also contains the Star Canyon area where Rochester Rhyolite mineralisation outcrops • Wide spaced RC drilling unde
Slide 21: Numerous Other Vein Systems – Never Drilled
ASX PXX Numerous Other Vein Systems – Never Drilled Ridgeline anomaly veins above The Golden Staircase veins Star Canyon 69m @ 1.10 g/t Au, 7.65 g/t Ag (channel)
Slide 22: Fourth of July Claims
ASX PXX Humboldt Range: Fourth of July Claims Fourth of July Claims 400Moz Rochester silver-gold mine • Metal zonation from silver-rich veins with strong gold credits at southern part of Fourth of July (closest to the Rochester silver mine) to gold-rich veins in Black Canyon (close to Florida Canyon
Slide 23: +3km long Silver/Gold Target
ASX PXX Fourth of July: +3km long Silver/Gold Target 23 23
Slide 24: Very strong Silver/Gold anomalism
ASX PXX Fourth of July: Very strong Silver/Gold anomalism 24 Silver Gold 24
Slide 25: View Forward 2024
ASX PXX View Forward 2024 25 Activity Q1 2024 Q2 2024 Q3 2024 Q4 2024 Humboldt Range Drill permits & site prep Drilling at Black Canyon Drilling at Fourth of July Additional Metallurgical test work Alaska Range Caribou Dome resource and Zackly joint scoping study revision Extension Drilling 25
Slide 26: Cautionary Statements
ASX PXX Cautionary Statements This presentation has been prepared by PolarX Limited (“the Company”) to assist in informing interested parties about the Company and its progress. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an
Slide 27: Highlights
Highlights Tier 1 copper, gold and silver assets Alaska and Nevada = within world’s top mining exploration and investment precincts Top 40 shareholders own 65% of PolarX - including management ASX: PXX Mining Scoping Study advancing Zackly and Caribou Dome toward potential mine production www.polarx