Western Mines Group Ltd · ASX:WMG
Western Mines — Shareholder Meeting (November 2023)
19 slides from Western Mines's shareholder meeting presentation, Nov 21, 2023
Slide 1: Western Mines Group AGM Presentation
WESTERN MINES GROUP AN EMERGING NICKEL SULPHIDE DISCOVERY UNDER COVER COMPANY AGM PRESENTATION @westernmines 21 NOVEMBER 2023 westernmines Western Mines Group ASX: WMG www.westernmines.com.au
Slide 2: Disclaimer
DISCLAIMER NATURE OF THIS DOCUMENT This presentation has been prepared by Western Mines Group Ltd ACN 640 738 834 (Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge and represent to the C
Slide 3: A Nickel Exploration Company
A NICKEL EXPLORATION COMPANY WESTERN MINES GROUP COMPANY OVERVIEW 10x “An exploration driven company looking to create value through • Exceptional flagship project – discovery of a major komatiite discovery” hosted nickel sulphide mineral system under cover in WA Western Mines Group Ltd • Tight capi
Slide 4: Directors
DIRECTORS Rex Turkington Non-Executive Chairman Capital Markets | Corporate Management Rex is a highly experienced corporate advisor and economist who has worked extensively in the Australian financial services and stockbroking industry, specialising in the natural resources sector and participating
Slide 5: A Significant 12 Months for the Company
A SIGNIFICANT 12 MONTHS FOR THE COMPANY DISCOVERY OF AN EXTENSIVE NICKEL SULPHIDE MINERAL SYSTEM AT MULGA TANK • Sustained exploration drilling at Mulga Tank over the last year – 7,722.7m diamond (WMG 11,712.8m total diamond) and 7,035.5m RC • MTD023 (EIS1) “Discovery hole” in April 2023 • Further d
Slide 6: The Culmination of Our 2 Year IPO Strategy
THE CULMINATION OF OUR 2 YEAR IPO STRATEGY NEAR PERFECT EXECUTION OF IPO BUDGET Expenditure Prospectus Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Actual Variance Exploration $3,608,000 $157,573 $299,777 $207,501 $574,143 $1,155,974 $240,996 $775,467 $1,081,186 $4,492,617 +$884,617 Regio
Slide 7: Nickel: Key Component of the Global Energy Transition
NICKEL: KEY COMPONENT OF THE GLOBAL ENERGY TRANSITION LARGE LOW-GRADE NICKEL SULPHIDE WILL INCREASINGLY BECOME AN ESSENTIAL NEW SUPPLY NICKEL LATERITE Around four times more energy and CO2 intensive than sulphide Large surficial deposits, often in tropical regions, can be very environmentally destru
Slide 8: Frontier Exploration in a World Class Nickel Province
FRONTIER EXPLORATION IN A WORLD CLASS NICKEL PROVINCE YILGARN CRATON WESTERN AUSTRALIA • One of the world’s major nickel provinces • World-class examples of komatiite-hosted nickel deposits – Kambalda (35Mt @ 3.1% Ni), Perseverance (50Mt @ 2.3% Ni) and Mt Keith (643.7Mt @ 0.58% Ni) MULGA TANK NI-CU-
Slide 9: Emerging Discovery and Belt Scale Opportunity
EMERGING DISCOVERY AND BELT SCALE OPPORTUNITY MAJOR KOMATIITE NICKEL SYSTEM UNDER COVER • Large adcumulate dunite body (~15km2) with interpreted komatiite channel flows extending NW over >12km • Limited drilling has penetrated ultramafic system through cover - 23 out of 29 holes show nickel sulphide
Slide 10: Chasing Major Deposits
CHASING MAJOR DEPOSITS EXPLORATION MODELS ARE PERSEVERANCE AND MT KEITH MULGA TANK ULTRAMAFIC COMPLEX OF COMPARABLE SIZE/SCALE TO PERSEVERANCE AND MT KEITH Model PERSEVERANCE MT KEITH Type Type 1 Stratiform Basal Massive Sulphide* Type 2 Interstitial Disseminated Sulphide* Resource 50Mt at 2.3% Ni 6
Slide 11: Main Dunite Body: Mt Keith-Style Mineral System
MAIN DUNITE BODY: MT KEITH-STYLE MINERAL SYSTEM DISSEMINATED SULPHIDES OVER >500M INTERVALS • Deep EIS holes MTD023 and MTD026 intersected extensive disseminated magmatic sulphides • MTD023: Cumulative 693.5m at 0.28% Ni, 128ppm Co, 61ppm Cu, 27ppb Pt+Pd with S:Ni 1.1 • MTD026: Cumulative 840m at 0.
Slide 12: Multiple Broad Zones of Disseminated Mineralisation
MULTIPLE BROAD ZONES OF DISSEMINATED MINERALISATION CROSS SECTION W-E ACROSS MAIN BODY OF COMPLEX ASX:WMG Western Mines Group Company Presentation, November 2023 12
Slide 13: Initial Testwork Confirms Significant Nickel in Sulphide
INITIAL TESTWORK CONFIRMS SIGNIFICANT NICKEL IN SULPHIDE FOUR ACID VS AQUA REGIA TESTWORK MTD022 4A 84m @ 0.32% Ni 99% AR 84m @ 0.32% Ni MTD012 4A 50m @ 0.32% Ni 97% AR 50m @ 0.31% Ni 4A 78m @ 0.28% Ni MTD023 97% AR 78m @ 0.27% Ni 4A 174m @ 0.24% Ni 99% AR 174m @ 0.24% Ni MTD020 4A 130m @ 0.31% Ni M
Slide 14: Main Dunite Body: Initial 22 Hole RC Program
MAIN DUNITE BODY: INITIAL 22 HOLE RC PROGRAM LARGE-SCALE OPEN-PIT POTENTIAL • Initial 22 hole, 7,035m RC program completed in ~6 weeks • Testing laterally continuity of shallow mineralisation seen in diamond holes • First results show broad intersections of mineralisation = concept working RECENT RC
Slide 15: Evidence for Perseverance-Style Hybrid System
EVIDENCE FOR PERSEVERANCE-STYLE HYBRID SYSTEM REMOBILISED MASSIVE NICKEL SULPHIDE VEINING • Multiple zones of remobilised massive nickel sulphide veinlets and in-situ immiscible globules seen across the Complex • MTD012: 0.5m at 1.49% Ni, 0.04% Cu and 0.04% Co from 385.8m • MTD013: 1.6m at 0.83% Ni
Slide 16: Cloud Sulphide at Depth?
CLOUD SULPHIDE AT DEPTH? SECOND $220,000 EIS AWARD TO TEST IT • Further deep diamond drilling co-funded by WA grant • Intersections of “cloud” sulphide potentially vectoring towards sulphide enriched keel and/or feeder vent: • MTD023: 88m at 0.44% Ni, 151ppm Co from 1,212m • MTD027: 96m at 0.40% Ni,
Slide 17: Prospective Unexplored Komatiite Channels
PROSPECTIVE UNEXPLORED KOMATIITE CHANNELS FERTILE KOMATIITE CHANNELS EXTEND 15KM • Komatiite sequence with A-B zones logged in the Panhandle • Evidence of prospective high-grade mineralisation: • MTD006: 0.25m at 3.8% Ni, 0.7% Cu and 0.7g/t PGE from 221.6m • MTD016: 0.3m at 1.57% Ni, 0.13% Cu and 0.
Slide 18: Multiple Drivers to Company Success Over 6-12 Months
MULTIPLE DRIVERS TO COMPANY SUCCESS OVER 6-12 MONTHS PATHWAYS TO SHAREHOLDER VALUE 1 MT KEITH-STYLE Systematic RC drill program EXTENDING DISSEMINATED Confirm lateral extent of disseminated mineralisation RESOURCE DRILL OUT SULPHIDE MINERALISATION Criteria: >1,000,000t [Ni], >0.25% Ni, top 200-300m
Slide 19: Exciting Discovery Opportunity
EXCITING DISCOVERY OPPORTUNITY EXPLORATION PHILOSOPHY • We believe multiple significant nickel deposits could be found at Mulga Tank • We strive to do high-quality technical exploration work • We are frugal with overheads to maximise exploration spend and minimise equity dilution • We want to change
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