Slide 1: Oropesa Tin Project Presentation to the 3rd Mining and Minerals Hall Conference
18 October 2019 OROPESA TIN PROJECT PRESENTATION TO THE 3rd MINING AND MINERALS HALL CONFERENCE, SEVILLE, SPAIN “Elementos Limited (ASX: ELT) ("Elementos" or the "Company") is pleased to provide the attached technical presentation relating to the Company’s Oropesa Tin Project in Spain. The presentat
Slide 2: Oropesa Project
OROPESA PROJECT MINAS DE ESTAÑO DE ESPAÑA
Slide 3: Location
Location Oropesa Project 1 km • 11 km from Fuente Obejuna Fuente • 88 km from Córdoba Obejuna • 185 km from Sevilla
Slide 4: Technical and Administrative Situation
Technical and Administrative Situation Owner Company Dyscovery of the field by IGME 1990 Permission to explore 2008 Iberian Permission to research 2010 Eurotin Exploration drilling campaign Mineralogical tests 2017 Exploitation Licence application - including EIA 2018 Complementary environmental stu
Slide 5: Mining law
Mining law RESEARCH PERMIT Initially comprised 78 mining grids in 2008, reduced to 50 in 2014. CONCESSION OF EXPLOTATION C.E. The C.E. project is reduced to 42 mining grids. There are no known historical, archaeological or paleontological areas of interest within the permit. Fuente Obejuna 1 km
Slide 6: Flora and fauna
Flora and fauna NATURAL SPACES OF SPECIAL INTEREST There are no known areas of historical, archaeological or paleontological interest within the permit area. The permit is located within the bounds of a Special Protection Area (ZEPA). ZEPA
Slide 7: Typical Section. Geological Model
Typical Section. Geological Model
Slide 8: Mineral resources
Mineral resources Oropesa Global Mineral Resource Estimate (0.15% Sn cut-off grade) Category Tonnes Grades % Sn Contained Tin (tonnes) Measured 330,000 1.09 3,585 Indicated 9,010,000 0.53 47,320 Total M & I 9,340,000 0.55 50,905 Inferred 3,200,000 0.52 16,615 NOTE: Elementos confirms that Mineral Re
Slide 9: Metallurgy
Metallurgy • Primary and secondary crushing before X-ray pre-concentration stage. • Tertiary crushing and grinding stages to 75 microns. Flotation and gravimetric concentration are required to achieve a concentrate of > 62% Sn. • Pilot plant testwork achieved recoveries of 47.6% in the gravimetric c
Slide 10: Water management
Water management The water management will be performed under zero discharge conditions, and has been designed as a closed circuit, where all water from the treatment plant is recovered and reused in the operation. ADJACENT LANDS • Minimize collection. all rainwater and runoff that Runoff water fron
Slide 11: Treatment plant
Treatment plant
Slide 12: Treatment plant
Treatment plant
Slide 13: Conceptual Design
Conceptual Design Open Pit Mine (1) Open pit mine – conventional truck and shovel operation Treatment Plant (2) Crushing, pre-concentration (x-ray), grinding, flotation and gravitmetry, to produce a tin concentrate. Tailing Dams (3 and 4) Two independent cells within the same reservoir, to separate
Slide 14: Personnel
Personnel Required workforce of 203 direct people, with the following breakdown: MINING GENERAL Personnel MESPA Contractor Plant MESPA Contractor Total Professional 5 3 3 5 16 Non-professional 5 5 8 4 1 23 Managers 2 4 2 2 2 12 Maintenance 7 12 19 Operators 4 50 50 15 14 133 TOTAL 16 69 75 26 17 203
Slide 15: Consultant Team
Consultant Team General project coordination, Geochemistry and water development and supervision of analysis metallurgical testing programs and mineral processing studies Hydrological and Laboratory metallurgical tests hydrogeological studies Geological and geotechnical studies Drilling Contractor M
Slide 16: Cautionary Statements
Cautionary Statements Forward-looking statements This document may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond the company’s control. Actu
Slide 17: Forward-looking statements
Forward-looking statements This document may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond the company’s control. Actual events or results m
Slide 18: JORC Code 2012 Edition – Table 1
JORC CODE, 2012 EDITION – TABLE 1 Section 1 Sampling Techniques and Data Pilot Plant Metallurgical Test Work, Oropesa Tin Project, Spain – December 2017 – Wardell-Armstrong Criteria JORC Code explanation Commentary • Nature and quality of sampling (eg cut channels, random chips, or Sampling Approxim
Slide 19: Criteria JORC Code explanation
Criteria JORC Code explanation Commentary • Float tails sizing to produce +38μm, -38+10μm and -10μm fractions • Gravity processing of the +38 and -38+10μm fractions • WHIMS testing of the gravity concentrates • Further grinding and gravity processing of the +38μm middlings and tailings • Pilot plant
Slide 20: Criteria JORC Code explanation: sample preparation
Criteria JORC Code explanation Commentary and sample • For all sample types, the nature, quality and appropriateness of the half core samples that were sent for preparation to ALS preparation sample preparation technique. Laboratories sample preparation facility in Seville, Spain (“ALS • Quality con
Slide 21: Criteria: Verification of sampling
Criteria JORC Code explanation Commentary • The verification of significant intersections by either independent or Verification Sampling and analytical methods are of a good standard and as alternative company personnel. of sampling such the results are considered representative of the performance •
Slide 22: Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary independent transport company was used to transport the samples from Oropesa to Truro. • The results of any audits or reviews of sampling techniques and data. Audits or No audits have been undertaken reviews Section 2 Reporting of Exploration Results Ground
Slide 23: Criteria JORC Code explanation: Geology
Criteria JORC Code explanation Commentary 1982.Additional tin exploration targeted Oropesa and the neighbouring La Grana property during 1983–1990, which included further mapping, stream sediment sampling, geochemical soils, geophysical surveys, trenching and initial drilling. • Deposit type, geolog
Slide 24: Criteria JORC Code explanation: Relationship
Criteria JORC Code explanation Commentary • These relationships are particularly important in the reporting of Relationship N/A Exploration Results. between • If the geometry of the mineralisation with respect to the drill hole mineralisatio angle is known, its nature should be reported. n widths an
Slide 25: Criteria JORC Code explanation: Further work
Criteria JORC Code explanation Commentary contained 13.7% Fe and 1.4% S. The sulphur is within limits, but the iron would be out of specification (normally 8%). • The nature and scale of planned further work (eg tests for lateral Further metallurgical test work is recommended to optimise the tin Fur
Slide 26: Oropesa Conceptual Flow Sheet
OROPESA CONCEPTUAL FLOW SHEET Crusher Roa mit Trash Screen Bulk Sulphide Cleaner Primary Jaw ‘Crusher Mill Feed Bin Sulphide Filter es 10” Cyclone Dap 38}em Ball Mill allings Storage Facility Rougher / ‘Scavenger ‘Spiral 38jan Crusher Dust ‘Extraction Cleaner ‘Spiral aa N MacDonald for WAT Version 2
Slide 27: Section 3 Estimation and Reporting of Mineral Resources
Section 3 Estimation and Reporting of Mineral Resources n/a Criteria JORC Code explanation Commentary • Measures taken to ensure that data has not been corrupted by, for Database N/A example, transcription or keying errors, between its initial collection integrity and its use for Mineral Resource es
Slide 28: Criteria JORC Code explanation
Criteria JORC Code explanation Commentary • In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. • Any assumptions behind modelling of selective mining units. • Any assumptions about correlation between variables. • Description o
Slide 29: Criteria: Environmental factors
Criteria JORC Code explanation Commentary • Assumptions made regarding possible waste and process residue Environmen- disposal options. It is always necessary as part of the process of tal factors or determining reasonable prospects for eventual economic extraction to assumptions consider the potent
Slide 30: Section 4 Estimation and Reporting of Ore Reserves
Criteria JORC Code explanation Commentary accuracy/ quantify the relative accuracy of the resource within stated confidence confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the esti
Slide 31: Criteria: Cut-off parameters
Criteria JORC Code explanation Commentary • The basis of the cut-off grade(s) or quality parameters applied. Cut-off parameters • The method and assumptions used as reported in the Pre-Feasibility Mining or Feasibility Study to convert the Mineral Resource to an Ore factors or Reserve (i.e. either b
Slide 32: Criteria: Environmental
Criteria JORC Code explanation Commentary • The status of studies of potential environmental impacts of the mining Environmen- and processing operation. Details of waste rock characterisation and tal the consideration of potential sites, status of design options considered and, where applicable, the
Slide 33: Criteria JORC Code explanation
Criteria JORC Code explanation Commentary • The inputs to the economic analysis to produce the net present value Economic (NPV) in the study, the source and confidence of these economic inputs including estimated inflation, discount rate, etc. • NPV ranges and sensitivity to variations in the signif
Slide 34: Section 5 Estimation and Reporting of Diamonds and Other Gemstones
Criteria JORC Code explanation Commentary confidence of the estimate. • The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions ma
Slide 35: Criteria JORC Code explanation: Commentary
Criteria JORC Code explanation Commentary etc). • Process efficiency, tailings auditing and granulometry. • Laboratory used, type of process for micro diamonds and accreditation. • One fifth (0.2) of a gram (often defined as a metric carat or MC). Carat • Sample grade in this section of Table 1 is u
Slide 36: Criteria for reporting Mineral Resources and Ore Reserves
Criteria JORC Code explanation Commentary for reporting • The sample crush size and its relationship to that achievable in a Mineral commercial treatment plant. Resources • Total number of diamonds greater than the specified and reported and Ore lower cut-off sieve size. Reserves • Total weight of d
Slide 37: Criteria: Classification
Criteria JORC Code explanation Commentary • In addition to general requirements to assess volume and density Classificatio there is a need to relate stone frequency (stones per cubic metre or n tonne) to stone size (carats per stone) to derive grade (carats per tonne). The elements of uncertainty in