Polarx Ltd · ASX:PXX
Polarx — Shareholder Meeting (November 2019)
23 slides from Polarx's shareholder meeting presentation, Nov 14, 2019
Slide 1: The Alaska Range Project; A new Cu-Au District in the USA
For personal use only The Alaska Range Project; A new Cu-Au District in the USA AGM Presentation and Investor Update 14 November 2019 ASX: PXX www.polarx.com.au 1
Slide 2: Summary of 2019 achievements
Summary of 2019 achievements For personal use only PolarX has two high-grade, expandable resources + One new porphyry Cu-Au discovery + High-rank porphyry targets Entered into a strategic partnership with Lundin Mining Discovered Cu-Au-Mo porphyry mineralisation at Mars Drilled the northern ed
Slide 3: Alaska is low risk: Under-explored TIER 1 geology in a TIER 1 jurisdiction
Alaska is low risk: Under-explored TIER 1 geology in a TIER 1 jurisdiction For personal use only Pro-mining state and a Global Top 10 investment destination per 2019 Fraser Institute Rankings Over 40Moz Au mined to date Considerably under-explored compared to other TIER 1 provinces – new depos
Slide 4: Strategic Partnership with Lundin Mining Corporation
Strategic Partnership with Lundin Mining Corporation For personal use only Strategic earn-in into PolarX’s 100% owned Stellar Project The Zackly Cu-Au skarn claims and Caribou Dome Project are excluded and remain 100% PolarX Lundin Mining invested A$4.3M, now PolarX’s largest (12.8%) sharehold
Slide 5: In the least explored part of the most prolific copper belt in the world
In the least explored part of the most prolific copper belt in the world For personal use only Modified after Sun et al 2015, based on USGS data 5
Slide 6: Rapidly growing resource with huge upside
Rapidly growing resource with huge upside For personal use only 15km x 7km district scale copper anomaly associated with the interpreted intrusive cluster Mars, Jupiter, Gemini and Zackly display Cu-Au-Mo- Ag-As anomalism (the classic porphyry indicators) Well defined 12 km-long WNW trending s
Slide 7: 12km long mineralised corridor – rapid near term growth
12km long mineralised corridor – rapid near term growth For personal use only 100% owned Zackly skarn likely to rapidly increase in size with further drilling to the east. Mars porphyry target has anomalous Cu-Au-Mo-As geochemistry and geophysical 55m @ 2.8g/t Au + 0.6% Cu anomalies consistent w
Slide 8: Mars Target: co-incident magnetic, IP and Cu-Au-As-Mo anomalism
Mars Target: co-incident magnetic, IP and Cu-Au-As-Mo anomalism For personal use only Spatially co-incident magnetic anomaly (potential oxidised-intrusion), IP anomaly, and Cu-Au-Mo-As in soil anomaly. Supported by up to 7% Cu and 7g/t Au in rock-chip samples 8
Slide 9: Mars drill core samples with multiple Cu and Cu-Mo veining events
Mars drill core samples with multiple Cu and Cu-Mo veining events For personal use only Vein types below are usually found just outside the main mineralised zones in porphyry deposits 19MAR001 at 114.9m depth. Early phase (i) epidote-quartz veins with epidote haloes overprinted by three later phases
Slide 10: Multiple Cu and Cu-Mo veining events, increasing with depth
Multiple Cu and Cu-Mo veining events, increasing with depth For personal use only Copper and molybdenum sulphides associated with hydrothermal alteration near a porphyry source 19MAR001 at 192.3m depth. Quartz-carbonate-pyrite-chalcopyrite veins with biotite and feldspathic/sericitic haloes. Likely
Slide 11: Multiple Cu and Cu-Mo veining events: more drilling required!
Multiple Cu and Cu-Mo veining events: more drilling required! For personal use only Noticeable increase in copper and molybdenum mineralisation intensity below 300m depth 11
Slide 12: Mars drill cross-section and mineralisation summary
Mars drill cross-section and mineralisation summary For personal use only SIX phases of veining have been identified throughout drill hole 19MAR001, FOUR of which contain copper mineralisation; i. Epidote-silica vein with an epidote rich halo ii. Chlorite-pyrite +/- chalcopyrite iii. Carbonate-quart
Slide 13: Relationship noted between copper sulphides and gypsum alteration
Relationship noted between copper sulphides and gypsum alteration For personal use only Alteration + clay minerals from spectral analysis 3-D drill hole visualisation of copper, gypsum Minor copper sulphides Gypsum presence indicative of associated with chlorite highly oxidised conditions. Spatial a
Slide 14: Saturn porphyry Cu-Au target
Saturn porphyry Cu-Au target For personal use only Blind target generated from egional magnetic data High-resolution aeromagnetic data validates target, particularly the 3- D inversion modelling Validated by strong interest from numerous international mining companies, including our strategic
Slide 15: Saturn Drill Plan and Cross-section Summary – deep holes in 2019
Saturn Drill Plan and Cross-section Summary – 5 deep holes in 2019 For personal use only Drill Plan on Magnetic Data Drill Sections on IP Data A A’ A A’ B B’ B B’ 15
Slide 16: Saturn drilling: key observations
Saturn drilling: key observations For personal use only Saturn is covered by a thick layer of unconsolidated post-mineral cover which slowed drilling progress. While further work is required to analyse the geological, geochemical, spectral and petrographic information, current consensus is that
Slide 17: Hyperspectral data shows vectors from clay (argillic) alteration
Hyperspectral data shows vectors from clay (argillic) alteration For personal use only Propylitic alteration Argillic alteration Argillic alteration Propylitic alteration Increasing in thickness to east and south 17
Slide 18: Interpretation based on observations to date: more drilling required
Interpretation based on observations to date: more drilling required For personal use only Schematic porphyry alteration zonation Interpretation of the 7,008,370N cross-section suggests potential porphyry source below and to the east of current drilling Overprinted advanced argillic ? A 0km A A A A
Slide 19: Plus, low-risk upside at Zackly: high grades 850m east of current resource
Plus, low-risk upside at Zackly: high grades 850m east of current resource For personal use only PLAN VIEW CROSS-SECTION 19
Slide 20: Concluding Statements
Concluding Statements For personal use only Big holding of high quality, high-grade copper-gold-silver assets in mining friendly Alaska, USA Advanced projects in a TIER 1 jurisdiction – early exploration risk has been removed Fully funded for near-term expansion and longer term discovery growt
Slide 21: Experienced management team with track-record
Experienced management team with track-record For personal use only MARK BOJANJAC A Chartered Accountant with over 25 years’ direct experience in developing resource companies. A founding director of Gilt-Edged Mining Limited which discovered East Kundana, one of Australia’s highest grade gold mines
Slide 22: Strong institutional support from major international funds
Strong institutional support from major international funds For personal use only Shares (M) Options (M) Cash (30 Sept) TOTALS 416.2 33.8 $3.4M SHAREHOLDERS: % Lundin Mining Corporation 12.8 TIGHTLY HELD Management/Directors/MRG Team 12.2 JP Morgan (UK) 8.3 Top 20 68% U.S. Global (US) 8.1 Top 40 75%
Slide 23: Cautionary Statements
Cautionary Statements For personal use only This presentation has been prepared by PolarX Limited (“PolarX”) 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 PolarX or as