Sky Metals Limited · ASX:SKY
Sky Metals — Corporate Update (September 2020)
16 slides from Sky Metals's corporate update, Sep 28, 2020
Slide 1: Sky Metals - Exploration Update September 2020
SKY METALS SKY - EXPLORATION UPDATE - SEPTEMBER 2020 AGGRESSIVE DRILL-FOCUSSED EXPLORATION ACROSS GOLD & COPPER-GOLD PORTFOLIO
Slide 2: Disclaimer
ASX: SKY Disclaimer Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward looking information, including risks associated with investments in private
Slide 3: NSW gold and copper-gold projects and company strengths
ASX: SKY DORADILLA ▪ Shallow, high grade, low cost Gold and Copper-Gold in NSW ▪ Drill ready targets IRON DUKE ▪ Known pedigree GALWADGERE ▪ Proven path to development TALLEBUNG ▪ Mine finders, developers and explorers ▪ Locally based - intimate knowledge of geology and regulatory environment KANGIA
Slide 4: Corporate snapshot and management
ASX: SKY Shares on issue 304.9M Options & Performance Rights 41.3M Share price (24 September 2020) $0.13 Market capitalisation ~$40M Est Cash (22 September 2020) $9.4M Debt Nil Norm Seckold Chairman Mark Arundell CEO Chairman - CEO 30+ years in the full-time management of natural resource 30+ years
Slide 5: Shallow, large scale McPhillamys-style gold and copper-gold targets
ASX: SKY DORADILLA ▪ Shallow, large scale, McPhillamys-Style Gold & Copper-Gold - Cullarin Project (80% SKY - Heron JV), Hume Target. IRON DUKE - SKY : 93m @ 4.24g/t Au from 56m inc. 14m @ 20.2g/t Au from 92m - Four new McPhillamys style targets to be tested GALWADGERE - SKY RC & diamond drilling in
Slide 6: McPhillamys deposit analogue and Cullarin/Kangiara JV
ASX: SKY ▪ McPhillamys Deposit, 69Mt @ 1.04g/t Au (+2Moz) ▪ Purchased Regis Resources Ltd (2012) for ~$150M, NPV @ A$1800/oz ~A$800M (Regis 2017) ▪ Rimas Kairaitis experience during the initial discovery of the McPhillamys Gold Deposit. ▪ Mark Arundell - 20+ years experience operating in NSW in part
Slide 7: Cullarin targets: Gurrundah, Hamilton, Hume
ASX: SKY McPhillamys 2Moz Footprint Gurrundah Target Coincident - IP chargeability, low magnetics, ✔ pathfinder soil geochem, target stratigraphy Right rocks, stratigraphy SOIL SAMPLING Q4 ✔ Right multi-element geochemical pathfinder signature ✔ Hamilton Target Coincident - IP chargeability, K radio
Slide 8: Hume: high grade gold zone and follow-up drilling
ASX: SKY ▪ SKY’s previous drilling program identified high grade gold zone intersected in HUD002 is associated with NW trending structure ▪ Now targeting strike and depth extensions ▪ In addition ▪ Mineralisation identified in HUD008 open to the south ▪ Historic drill holes – NSW Core library ▪ Re-s
Slide 9: Hume drilling intercepts and new gold soil targets
ASX: SKY HUD002: 93m @ 4.24 g/t gold from 56m (66% recovery) including: 14m @ 20.2 g/t gold from 92m (63% core recovery) HUD007: 69m @ 2.21g/t gold from 49m, including 14m @ 6.76g/t gold from 68m WL28: 134.1m @ 1.10g/t gold from 25.9m, including 4m @ 7.15g/t gold from 32m HUD001: 54m @ 0.84g
Slide 10: Hume North, Hume West and Breadalbane targets
ASX: SKY ▪ Potassium radiometrics indicated targeted footwall alteration trending NNE away from high grade HUD002 ▪ Hume North - McPhillamys pathfinder geochemical soil anomaly ▪ RC drilling ~40% completed ▪ Breadalbane Iron Mine – gold soil anomaly ▪ Six historic diamond drillholes sampled ▪ Assays
Slide 11: Hamilton soil sampling gold target
ASX: SKY ▪ SKY - first ever sampling for gold ▪ Soil sampling defines new gold target in targeted footwall “gold” position ▪ Co-incident “targeted” radiometric and magnetic response ▪ Historic drilling - base metal VMS “exhalite” position – gold not targeted ▪ RC drilling program planned for October
Slide 12: Caledonian project: McPhillamys-style mineralisation
ASX: SKY ▪ McPhillamys-style gold mineralisation ▪ Multiple historic drill intersections indicate large mineralised gold zone with discrete high-grade zones ▪ 6m @ 8g/t Au recorded from lode at historic Caledonian Mines (GSNSW) ▪ Robust historic soil gold anomaly (500 x 100m @ +50ppb - Comet Resourc
Slide 13: Galwadgere: option to purchase 100%
ASX: SKY ▪ Option to Purchase 100% (Alkane) ▪ Galwadgere deposit open to south, north & down dip ▪ +800m strike length ▪ Historical (2004) drilling results from Galwadgere include: ▪ GAL008: 47m @ 0.90% Cu & 1.58g/t Au from 122m ▪ GAL022: 45m @ 0.83% Cu and 0.40g/t Au from 51m ▪ SKY has identified u
Slide 14: Clear strategy and upcoming drilling catalysts
ASX: SKY ▪ Drilling ▪ Clear Strategy - high value NSW Gold & Copper-Gold Projects ▪ Cullarin – RC/DD – September onwards ▪ Aggressive drill focussed exploration campaign of advanced, ▪ Hume – Diamond Drilling – in progress near surface, high grade Gold & Copper-Gold targets ▪ Hume North – RC – Octob
Slide 15: References
ASX: SKY CMOC 2019., China Molybdenum Company Limited, http://www.cmocinternational.com/australia/ Duerden, P., 2010, The McPhillamys Gold Deposit, A Significant Discovery in the Lachlan Fold Belt, ASX 22 November 2018 – SKY ASX Announcement ‘Planet Gas Limited to Acquire High Quality Tin- central w
Slide 16: Sky Metals
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