Slide 1: Upping the ante at Rover
For personal use only Adelaide Resources Limited Upping the ante at Rover Speaker: Chris Drown “Creating “Creating wealth wealth through through discovery” discovery” Slide 1
Slide 2: Disclaimer and Competent Person's Statement
Disclaimer Disclaimer and and Competent Competent Person’s Person’s Statement For personal use only Statement The The information information inin this this presentation presentation is is published published toto inform inform youyou about about Adelaide Adelaide Resources Resources Limited and its
Slide 3: Corporate statistics
Corporate statistics For personal use only • Listed on ASX in 1996 (ADN) • Shares issued 111.2 million • Unlisted options 4.0 million • Cash ~$9.4 million (31 Dec 09) • Shareholders 2600 • Top 20 hold 30.6% • Major holders Tidewater 9.92% K Yates 5.2% • 12 month trading 4.9 to 39.5 cents • Market ca
Slide 4: The people
The people For personal use only Board members left to right: John den Dryver – Mining Engineer Director, 30+ years experience Keith Yates – Geologist Director, 40+ years experience Chris Drown – Geologist Managing Director, 20+ years experience John Horan – Accountant Director, 40+ years experience
Slide 5: 12 month summary
12 month summary For personal use only • Gold-copper focused explorer • 2009 exploration effort rewarded with significant intersections at the 100% owned Rover Project in Northern Territory • Solid cash position of ~$9 million allowing significantly increased effort at Rover in 2010 • Excellent port
Slide 6: Project locations
Project locations For personal use only THE MAIN GAME New New project project Seeking Seeking JV JV Seeking Seeking JV JV Joint Joint Venture Venture Field Field work work Joint Joint Venture Venture underway underway “Creating “Creating wealth wealth through through discovery” discovery” Slide 6
Slide 7: Eyre Peninsula Project – joint venture opportunity
Eyre Peninsula Project – joint venture opportunity For personal use only BAGGY GREEN Geochemical gold 8m @ 4.79g/t Au anomaly BARNS 24m @ 2.33g/t Au 24m @ 2.19g/t Au WUD2 CENTRAL 12m @ 3.38g/t Au 1m @ 37.8g/t Au 2m @ 67.6g.t Au WHITE TANK 17m @ 3.47g/t Au 7m @ 10.0g/t Au 30 KM “Creating “Creating we
Slide 8: Anabama Project – joint venture opportunity
Anabama Project – joint venture opportunity For personal use only Blue Rose Results 46m @ 2.2% Cu, 0.8g/t Au Blue Rose Dark Horse – 5.5km long target Dark Horse Gossan Float Inverted TMI Image Dark Horse Drill Section “Creating “Creating wealth wealth through through discovery” discovery” Slide 8
Slide 9: Rover Project – the main game
Rover Project – the main game For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 9
Slide 10: Acquisition terms
Acquisition terms For personal use only Project acquired from Newmont in 2005 • Acquired 100% ownership of 3 tenements - 287 sq. km. • Commitment to spend $400,000 on exploration in 18 months (satisfied Dec 05) • Either a royalty or a buy back right • NSR royalty of 1.5% to 2.5% (on-sold to Franco-N
Slide 11: Field exploration history
Rover Field exploration history For personal use only 1st phase 2nd phase Normandy Normandy Normandy Adelaide Normandy Adelaide acquires acquires divests divests Resources Resources Peko’s Peko’s Central Central Acquires Acquires TC TC assets assets TC TC Field Field Rover Rover BMR BMR mags mags Pe
Slide 12: ADN controls most of the confirmed Rover Field
ADN controls most of the confirmed Rover Field For personal use only Confirmed ironstone WGR Currently WDR confirmed extent of ADN Rover Field Tennant Tennant Creek Creek SStu tuaartrt HHig ighhw waayy 40 KM “Creating “Creating wealth wealth through through discovery” discovery” Slide 12
Slide 13: Rover Field – a camp of deposits
Rover – a camp of deposits For personal use only 2008 2008 helimag helimag survey survey R12 R4 R1 2009 Gravity survey Tennant Tennant Creek Creek style style ironstone ironstone 2009 2009 drill drill program program targets targets Exploration Exploration target target Drilling Drilling part part f
Slide 14: Rover 4 Prospect
Rover 1 Prospect For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 14
Slide 15: Rover 4 Prospect
Rover 1 Prospect For personal use only First drill hole R1ARD30 intersects significant copper and gold in vertically extensive magnetite-haematite ironstone. Two further holes with significant intersections released, and assays from last two 2009 holes to come. “Creating “Creating wealth wealth thro
Slide 16: High grade drill core
Rover 1 high grade drill core For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 16
Slide 17: Rover 1 prospect – Exciting new results
Rover 4 prospect – Exciting new results For personal use only 46m 46m @@ 1.24% 1.24% Cu Cu 27m 27m @ @ 1.2% 1.2% Cu, Cu, 0.25 0.25 g/t g/t Au Au (10m (10m @ @ 2.31% 2.31% Cu) Cu) 21m @ 2.33% Cu, 0.94 g/t Au) 21m @ 2.33% Cu, 0.94 g/t Au) 17m 48m @ 0.58g/t Au 17m @ @ 1.81% 1.81% Cu, Cu, 0.03 0.03 g/t
Slide 18: Rover 1 prospect cross section
Rover 4 prospect For personal use only Cross section showing recently drilled holes “Creating “Creating wealth wealth through through discovery” discovery” Slide 18
Slide 19: Employing advanced exploration technologies
Employing advanced exploration technologies For personal use only R4ARD24 R4ARD21 Model of magnetite body derived using downhole magnetometer logging “Creating “Creating wealth wealth through through discovery” discovery” Slide 19
Slide 20: Rover 1 prospect – RTP TMI images
Rover 12 prospect – RTP TMI images For personal use only Rover 12 Rover 1 22 Peko Peko & & 34 34 Peko Peko holes holes && 55 ADN ADN holes holes 11 KM KM wedges wedges prior prior to to WGR WGR “Creating “Creating wealth wealth through through discovery” discovery” Slide 20
Slide 21: Rover 12 – mineralised system
Rover 12 – mineralised system For personal use only Surface Wiso Basin R12 R12 Section Section Sediments 100m 339850E 339850E R12 R12 Magnetic Magnetic contours contours 200m Unconformity Drillhole Drillhole RV12ARD1 RV12ARD2 300m Zone containing ironstone lodes 0.9m@3.06%Cu 0.55g/tAu 2m@5.94%Pb 400
Slide 22: Expenditure history
? Expenditure history For personal use only 2.5 ADN ADN acquires acquires project project 2.0 Planned Allowable 1.5 To end January 2010 $1.8M Expenditure future ($M) expenditure 1.0 (~$3 million in 2010) 0.5 0 2000 2002 2004 2006 2008 2010 “Creating “Creating wealth wealth through through discovery”
Slide 23: Rover summary
Rover summary For personal use only • One of Australia’s best gold-copper exploration destinations • Prospective for bonanza grade gold deposits • ADN holds majority of Rover Field • Exciting recent results at Rover 4 and Rover 1 • Confirmed Rover 1 extends into ADN EL • Aggressive forward program p
Slide 24: Rover Field – geophysical exploration assumptions
Rover Field – geophysical exploration For personal use only assumptions • Rover grade/tonnage distribution same as Tennant Creek • Only ~ 20% of Ironstone volume mineralised • Depth to top 150-200m • Ironstone density 0.6 gm/cm3 above host • Magnetic Susceptibility 0.5 SI units “Creating “Creating w
Slide 25: Tennant Creek – tonnage/grade distribution
Tennant Creek – tonnage/grade distribution For personal use only Grade (g/t) 1000 Rover target region 100 TC8 Juno White Devil Eldorado Argo Nobles Nob 10 Warrego Orlando Peko Ivanhoe 1 Gecko 0.1 10 0 10 1 10 2 10 3 10 4 10 5 10 6 10 7 10 8 Orebody size (tonnes) Information Information for for 130 1
Slide 26: Gravity response – Rover
Gravity response – Rover 4 For personal use only Section Gravity image Model 200m below surface “Creating “Creating wealth wealth through through discovery” discovery” Slide 26
Slide 27: Plan and section
Rover 4 plan and section For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 27
Slide 28: Mt ironstone – gravity response
30 Mt ironstone – gravity response For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 28
Slide 29: Mt ironstone – gravity response
1 Mt ironstone – gravity response For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 29
Slide 30: Mt ironstone – magnetic response
30 Mt ironstone – magnetic response For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 30
Slide 31: 20,000 T ironstone – magnetic response
20,000 T ironstone – magnetic response For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 31
Slide 32: Rover Field – limits to geophysical detection
Rover Field – limits to geophysical detection For personal use only Grade (g/t) 1000 Rover target region 100 TC8 Juno White Devil Eldorado Argo Nobles Nob 10 Warrego Orlando Peko Ivanhoe 1 Gecko Magnetics will Gravity will detect detect 0.1 10 0 10 1 10 2 10 3 10 4 10 5 10 6 10 7 10 8 Orebody size (
Slide 33: Providing shareholders with discovery opportunities!
For personal use only Providing Providing shareholders shareholders with with discovery discovery opportunities! opportunities! “Creating “Creating wealth wealth through through discovery” discovery” Slide 33