Slide 1: From discoveries to mines: fast-tracking a new generation of mineral projects in Brazil
From discoveries to mines: fast-tracking a new generation of mineral projects in Brazil's world-class Mineral Provinces PDAC 3-6 March 2019 Darren Gordon, Managing Director
Slide 2: Disclaimer
Disclaimer This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into a
Slide 3: Overview – A Diversified Brazilian Resource Developer
Overview – A Diversified Brazilian Resource Developer High-potential nickel-cobalt and copper-gold projects Capital Structure in Tier-1 addresses Shares on Issue 2,305m Large-scale Itapitanga nickel-cobalt discovery moving rapidly to development under innovative JV with battery Listed Options (EP $0
Slide 4: Brazil – A Mining Friendly Destination
Brazil – A Mining Friendly Destination Latin America’s largest economy Rapidly growing population (currently ~208 million) Low interest rates (by historical standards), low inflation and rising economic growth Pro-mining President encouraging foreign investment in mining and infrastructure projects
Slide 5: The Carajás Mineral Province – Land of the Giants
The Carajás Mineral Province – Land of the Giants 10 IOCG deposits with resources of +100Mt Cu-Au, including six >300Mt for +4.0Bt of Cu-Au resources Includes Vale’s giant Salobo Mine: ‒ Reserves of 1.2Bt @ 0.61% Cu, 0.3g/t Au Produced ~195kt Cu and ~346koz Au in 2017 Also hosts the largest high-gra
Slide 6: Itapitanga Nickel-Cobalt Project
Itapitanga Nickel-Cobalt Project 6
Slide 7: Itapitanga Nickel-Cobalt Project – Alligator by the Tail?
Itapitanga Nickel-Cobalt Project – Alligator by the Tail? The Itapitanga Ni-Co Project is located at the southern extent of Anglo American’s world-class Jacaré Nickel-Cobalt Project Resources: 307Mt at 1.3% Ni and 0.13% Co, including a high-grade cobalt resource of 185Mt at 1.2% Ni and 0.18% Co. Pro
Slide 8: First-Mover Advantage in High-grade Nickel Province
First-Mover Advantage in High-grade Nickel Province 90.0m @ 1.00 % Ni and 0.27% Co ~240-hole Auger program completed for 1,200m in trench ITAP-BS00001 155-hole maiden RC program completed for 4,309m High-grade nickel-cobalt results include: – 10.0m @ 1.03% nickel and 0.21% cobalt (1.95% Nieq) from s
Slide 9: Fast-Track Development Pathway – Simulus JV
Fast-Track Development Pathway – Simulus JV The Simulus Group – Australia’s premier hydrometallurgy and mineral processing service group and ideal JV partner for Centaurus to fast-track development of the Itapitanga Project Simulus has the right to earn up to 80%, in stages, by free-carrying Centaur
Slide 10: Moving Rapidly to Development
Moving Rapidly to Development ON THE DEVELOPMENT FAST TRACK – FUNDED BY SIMULUS Q1 Q2 Q3 Q4 2020 Resource infill and extension JORC Resource update Pilot plant and testwork as 40t Bulk Sample Detailed engineering design drilling required Mine Schedule update Final CAPEX and OPEX estimation Site topo
Slide 11: Salobo West Copper-Gold Project
Salobo West Copper-Gold Project 11
Slide 12: Salobo West – High-Potential Cu-Au Exploration
Salobo West – High-Potential Cu-Au Exploration The Carajás contains one of the world’s largest concentrations of large tonnage iron oxide copper- gold (IOCG) deposits: +4.0Bt of Cu-Au resources OZ Minerals entered Carajás in 2018 Vale plans to roll out “mini mines” model 12
Slide 13: The Carajás Mineral Province – The Land of the Giants
The Carajás Mineral Province – The Land of the Giants The Carajás Mineral Province has been explored by Vale since the 1970’s – has controlled 90% of the province for past 50 years Most of the IOCG deposits in the Carajás were discovered in the 1970s and 1980s using conventional mapping and soil geo
Slide 14: The Carajás Mineral Province – The Cinzento Shear Zone
The Carajás Mineral Province – The Cinzento Shear Zone IOCG deposits in the Cinzento occur along fault splays and intersections of major lineaments; Salobo West Project hosts multiple prospects that fit precisely this scenario within the favourable geological context of the Itacaiúnas Supergroup. 14
Slide 15: The Carajás Mineral Province – Vale is Expanding
The Carajás Mineral Province – Vale is Expanding Vale is currently producing circa 290ktpa of copper from Salobo West 2 (12km WNW) Salobo West 1 (15km NW) the Carajás and is looking to raise this to 450-500ktpa by 2024¹ by: Increasing Salobo capacity to 250ktpa via installation of a third concentrat
Slide 16: Salobo West Copper-Gold Project
Salobo West Copper-Gold Project Two tenements – SW1 and SW2 (120km2 of tenure): Tenements hosts at least five quality Cu-Au Prospects - SW1-A, SW1-B, Serendipidade, Dom & Gov Prospects. Expansive high-quality exploration dataset: – Stream sediment and soils geochem database (more then 3,500 samples)
Slide 17: Salobo West Copper-Gold Project – SW1
Salobo West Copper-Gold Project – SW1 SW1-B: The Cruzamento Zone: Located at the intersection of the east-west BIF (Itacaiúnas) and the north-west trending BIF unit of the SW1-A Prospect Discrete EM conductor plates modelled coincidently with IP chargeability anomalies, magnetic plates and Cu-Au(-Co
Slide 18: Salobo West Copper-Gold Project – SW1
Salobo West Copper-Gold Project – SW1 SW1-B: Positive Historical Drill Hole Anglo American drilled only one hole into SW1-B Prospect (IOCG target) FD0010 intersected 4m @ 0.8g/t Au (incl. 1m @ 2.0g/t Au) with 55% Fe from 116m-120m Preceded by an interval from 110m-115m with copper values between 0.0
Slide 19: Salobo West Copper-Gold Project – SW2
Salobo West Copper-Gold Project – SW2 Salobo West 2 (SW2) covers an WNW lineament that extends from the Salobo Mine This WNW structure is through to be the mineralisation conduit for the 1.8Ga mineralising event at Salobo; where it hits the reactive Itacaiúnas unit (mag highs) there is Cu-Au mineral
Slide 20: Salobo West Copper-Gold Project: The Road to Discovery
Salobo West Copper-Gold Project THE ROAD TO DISCOVERY Target generation work undertaken with industry leading independent consultants: – Grant “Rocky” Osborne, independent geologist with over 35 years’ experience in gold and base metals, 17 years in Brazil – Southern Geoscience Consultants, highly e
Slide 21: Jambreiro Iron Ore Project
Jambreiro Iron Ore Project 21
Slide 22: Jambreiro Iron Ore Project
Jambreiro Iron Ore Project 110km from Ipatinga steel-making region JORC Resource of 350km 128Mt Initial Friable Ore Reserve of 48.5Mt 110km Over 19,000m of diamond and RC drilling to support 140km JORC Resource and Reserve 22
Slide 23: Jambreiro Iron Ore Project – Development Ready
Jambreiro Iron Ore Project – Development Ready Environmental and Mines Department approvals in place for 3Mtpa operation Mining Leases granted, land access agreement in place Current domestic iron ore prices are better than those used in the 2013 Feasibility Study, and current FX rates would further
Slide 24: Centaurus – Key Investment Takeaways
Centaurus – Key Investment Takeaways Outstanding package of nickel-cobalt and copper-gold projects Innovative JV with leading battery metals process group to free carry Centaurus to Decision to Mine at Itapitanga Aggressive development time-line with aim to be first-mover in significant undeveloped
Slide 25: From discoveries to mines: fast-tracking a new generation of mineral projects in Brazil
From discoveries to mines: fast-tracking a new generation of mineral projects in Brazil's world-class Mineral Provinces PDAC 3-6 March 2019 Darren Gordon, Managing Director
Slide 26: The Carajás Mineral Province – The Land of the Giants
The Carajás Mineral Province – The Land of the Giants Distance from CTM Company Deposits Commodity Mineral Reserves Mineral Resources Annual Production Projects (Km) 1 BHP Olympic Dam Copper-Gold 505Mt @ 1.99% Cu, 0.72 g/t Au 6.0Bt @ 0.93% Cu, 0.34 g/t Au 166kt Cu cathode & 100koz Au Australia Vale2