Western Mines Group Ltd · ASX:WMG
Western Mines — 121 Mining Investment London 2024
21 slides from Western Mines's conference presentation, May 15, 2024
Slide 1: The Mulga Tank Nickel Sulphide Discovery
For personal use only WESTERN MINES GROUP THE MULGA TANK NICKEL SULPHIDE DISCOVERY 121 MINING INVESTMENT LONDON @westernmines 15-16 MAY 2024 westernmines Western Mines Group ASX: WMG www.westernmines.com.au
Slide 2: Disclaimer
DISCLAIMER For personal use only 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
Slide 3: Western Mines Group Company Overview
A NICKEL EXPLORATION COMPANY For personal use only WESTERN MINES GROUP COMPANY OVERVIEW 10x “An exploration driven company • Exceptional flagship project – discovery of a major komatiite hosted nickel looking to create value through sulphide mineral system under cover in WA discovery” • “Globally si
Slide 4: Recent news flow, share price and nickel price
4 $30,000 $25,000 $20,000 $15,000 1/5/24 APRIL 2024 MTD029 (EIS3) Diamond Drilling Update MTRC038 Assay Results up to 3.16% Ni and 1.20% Cu MTRC032 Assays Matrix Sulphide 6m at 1.01% Ni 1/4/24 0.32% Cu MARCH 2024 Further RC Results with 200m Zones of Mineralisation WMG Share Price MTRC024 Assays – M
Slide 5: Nickel: Key Component of the Global Energy Transition
NICKEL: KEY COMPONENT OF THE GLOBAL ENERGY TRANSITION For personal use only BATTLE OF CLEAN GREEN NICKEL SULPHIDE VERSUS DIRTY NICKEL LATERITE NICKEL LATERITE Nickel Consumption Around four times more energy and CO2 intensive than sulphide, large surficial deposits in tropical regions such as Indone
Slide 6: Frontier Exploration in a World Class Nickel Province
FRONTIER EXPLORATION IN A WORLD CLASS NICKEL PROVINCE For personal use only 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%
Slide 7: Belt Scale Opportunity WMG Own 100%
BELT SCALE OPPORTUNITY WMG OWN 100% For personal use only MAJOR KOMATIITE NICKEL SYSTEM UNDER COVER • Large adcumulate dunite body (~15km2) with interpreted komatiite channel flows extending NW over >12km • Drilling beneath sand cover - 60 out of 69 holes show nickel sulphide mineralisation • ALL TH
Slide 8: Discovery of Extensive Mt Keith-Style Magmatic Sulphide
DISCOVERY OF EXTENSIVE MT KEITH-STYLE MAGMATIC SULPHIDE For personal use only 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 •
Slide 9: Multiple Broad Zones of Disseminated Mineralisation
MULTIPLE BROAD ZONES OF DISSEMINATED MINERALISATION For personal use only BRAVE LITTLE COMPANY DRILLING 1,500M DIAMOND HOLES ASX:WMG Western Mines Group Company Presentation, May 2024 9
Slide 10: Initial RC Program Confirmed Shallow Mineralisation
INITIAL RC PROGRAM CONFIRMED SHALLOW MINERALISATION For personal use only LARGE-SCALE OPEN-PIT POTENTIAL • Initial 22 hole, 7,035m RC program – 19 out of 22 holes mineralised PHASE 1 RC RESULTS: • MTRC001: Cumulative 253m at 0.24% Ni, 128ppm Co, 76ppm Cu, 27ppb Pt+Pd with S:Ni 1.4 • MTRC002: Cumulat
Slide 11: Globally Significant Nickel Sulphide System
GLOBALLY SIGNIFICANT NICKEL SULPHIDE SYSTEM For personal use only JORC EXPLORATION TARGET 350Mt to 2,200Mt at 0.24% to 0.35% Ni, 120ppm to 150ppm Co, S:Ni 1.1 to 1.3 Higher-grade core W (2,800ppm Ni, 1,000ppm S cut-off) E Large lower-grade (1,500ppm Ni, 1,000ppm S cut-off) Dunite shell Cautionary St
Slide 12: Phase 2 RC Focused on the Higher-Grade Core
PHASE 2 RC FOCUSED ON THE HIGHER-GRADE CORE For personal use only INFILL DRILLING TARGETING FIRST RESOURCE • Further 17 hole 5,534m RC completed February-March 2024 • PROGRESSIVELY DE-RISK, IMPROVE CONFIDENCE AND AID RESOURCE EVALUATION PHASE 2 RC RESULTS: • MTRC023: Cumulative 115m at 0.28% Ni, 133
Slide 13: Multiple 200m Intersections of Mineralisation
MULTIPLE 200M INTERSECTIONS OF MINERALISATION For personal use only DRILLING AROUND THE HIGHER-GRADE CORE ASX:WMG Western Mines Group Company Presentation, May 2024 13
Slide 14: Evidence for Perseverance-Style Hybrid System
EVIDENCE FOR PERSEVERANCE-STYLE HYBRID SYSTEM For personal use only HIGH-GRADE COMPONENT TO MINERALISATION • 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:
Slide 15: Shallow High-Grade Results in RC Drilling
SHALLOW HIGH-GRADE RESULTS IN RC DRILLING For personal use only SEMI-MASSIVE NICKEL-COPPER SULPHIDE IN RC • Higher grade results in the central-eastern area of the Complex • MTD015: 1m at 1.11% Ni, 516ppm Co, 0.45% Cu, 62ppb Pt+Pd from 172m 3m at 1.32% Ni, 56ppm Co, 0.10% Cu, 34ppb Pt+Pd from 184m 2
Slide 16: Perseverance-Style Cloud Sulphide at Depth?
PERSEVERANCE-STYLE CLOUD SULPHIDE AT DEPTH? For personal use only COMPELLING CONDUCTIVE MOBILEMT TARGET • MobileMT survey – deep resistivity mapping highlights conductive target within overall resistive dunite body • Further deep diamond drilling EIS3 co-funded by WA grant • Intersections of “cloud”
Slide 17: MTD029 EIS3 MobileMT Target
MTD029 EIS3 MOBILEMT TARGET For personal use only (EIS3) CONDUCTIVE ANOMALY GRAZED BY MTD027 MTD MTD029 E 027 400mRL W -1000mRL MTD027 96m at 0.40% Ni from 1208m inc. 38m at 0.56% Ni from 1262m inc. 8m at 1.11% Ni from 1270m Dunite shell ASX:WMG Western Mines Group Company Presentation, May 2024 17
Slide 18: Prospective Unexplored Komatiite Channels
PROSPECTIVE UNEXPLORED KOMATIITE CHANNELS For personal use only 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 1.5
Slide 19: Multiple Drivers to Company Success Over 6-12 Months
MULTIPLE DRIVERS TO COMPANY SUCCESS OVER 6-12 MONTHS For personal use only PATHWAYS TO SHAREHOLDER VALUE Systematic RC - confirm lateral extent 1 MT KEITH-STYLE of disseminated mineralisation EXTENDING DISSEMINATED Initial Exploration Target estimate RESOURCE DRILL OUT SULPHIDE MINERALISATION Criter
Slide 20: Exciting Discovery Opportunity
EXCITING DISCOVERY OPPORTUNITY For personal use only EXPLORATION PHILOSOPHY • We believe multiple significant nickel deposits will 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 dilutio
Slide 21: Directors
DIRECTORS For personal use only 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 se
Western Mines Group — 121 Mining Investment London 2024 on 6ix