Andromeda Metals Limited · ASX:ADN
Andromeda Metals — Adelaide Resources — SACOME Luncheon 2008
37 slides from Andromeda Metals's conference presentation, Jul 25, 2008
Slide 1: Presentation to SACOME Luncheon 25 July 2008
Presentation to SACOME Luncheon 25 July 2008 For personal use only Kicking Rocks! Slide 1
Slide 2: Disclaimer
Disclaimer For personal use only The The information information in in this this presentation presentation isis published published toto inform inform youyou about about Adelaide Adelaide Resources Resources Limited Limited andand its its activities. activities. Some Some statements statements in in
Slide 3: Our People
Our People For personal use only Board members left to right: John den Dryver – Mining Engineer Director, 30+ years experience Keith Yates – Geologist Director, 40+ years experience Chris Drown – Geologist Managing Director, 20+ years experience John Horan – Accountant Director, 40+ years experience
Slide 4: Corporate Statistics
Corporate Statistics For personal use only • Listed on ASX in 1996 • Shares issued ~ 83.16 million • Cash ~ $3.9 million • Shareholders ~ 1900 • 12 month trading 12 to 60 cents • Market capitalisation ~ $12.5 million (15 cents) A Mineral Explorer with Exciting Potential Slide 4
Slide 5: Exploration Expenditure History
Exploration Expenditure History For personal use only 3.5 3 Joint Venture Adelaide Resources 2.5 ($ million) 2 1.5 1 0.5 0 96-97 97-98 98-99 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08 ADN: $9.3M JV: $12.6M Total: $21.9M Slide 5
Slide 6: Joint Venturers 1995 to 2008
Joint Venturers 1995 to 2008 For personal use only 1995 Posgold 2001 AngloGold 1995 Aberfoyle Resources 2002 Perilya 1996 Troy Resources 2002 MIM 1997 BHP Minerals 2002 Phelps Dodge 1997 Diamond Ventures 2003 Newmont 1997 Cyprus Amax 2003 Red Metal 1997 Olliver Geol. Serv. 2004 Inco Resources 1999 N
Slide 7: The Pillars of our Business
The Pillars of our Business For personal use only Adelaide Resources Limited IRON IRON ORE ORE ZIRCON ZIRCON COPPER COPPER -- GOLD GOLD URANIUM URANIUM Colona Colona JV JV Rover, Rover, Quasar Quasar JV, JV, Cleve Cleve Warramboo Warramboo (incl. (incl. Tripitaka Tripitaka Eyre Eyre Peninsula, Penin
Slide 8: Iron Ore: Warramboo
IRON ORE For personal use only Warramboo Slide 8
Slide 9: Warramboo Iron Project Locality
Warramboo Iron Project Locality For personal use only Slide 9
Slide 10: Iron Road Transaction
Iron Road Transaction For personal use only • Warramboo Iron Project vended into Iron Road Limited (IRD) • Iron Road raised $5M (25 million 20 cent shares) - IPO was heavily oversubscribed • Iron Road commenced trading 12 June 2008 • Preparations for first drilling at Warramboo well advanced Slide 1
Slide 11: Iron Road Transaction
Iron Road Transaction For personal use only • ADN holds 21M shares (~ 39%) of Iron Road stock • ADN to complete distribution (1 IRL for every 4 ADN) subject to shareholder approval and favourable ATO rulings • Shareholder meeting to consider distribution - 12 August • Record date for participation i
Slide 12: Zircon: Colona JV
ZIRCON For personal use only Colona JV Colona Joint Venture Adelaide 49% Iluka 51% (Manager) Slide 12
Slide 13: Colona Joint Venture Location
Colona Joint Venture Location ADN 49% For personal use only Ambrosia Jacinth Typhoon Slide 13
Slide 14: Tripitaka Inferred Resource
Tripitaka Inferred Resource ADN 30% For personal use only Ownership Total ILUKA 100% (400,000t HM) 400,000t HM COLONA JV – ILUKA 51% (306,000t HM) 600,000t HM – AdRes 49% (294,000t HM) 1,000,000t HM (650,000t zircon) TRIPITAKA Slide 14
Slide 15: Tripitaka Pre-feasibility Study
Tripitaka Pre-feasibility Study ADN 30% For personal use only • Elements of PFS - Mine planning - Resource upgrade - Water supply - Metallurgy - Environment - Permitting - Native Title Slide 15
Slide 16: Zircon Exploration - Typhoon Discovery Follow-up
Zircon Exploration - Typhoon Discovery Follow-up For personal use only Jacinth Typhoon Results 21m @ 4.7%HM from 1.5m 17% zircon in assemblage Slide 16
Slide 17: Colona JV – Exploration To Date
Colona JV – Exploration To Date ADN 49% For personal use only The joint venture’s regional exploration has concentrated on only a small part of the total 5,251 sq. km. project area. Exploration Drill Traverse 30 km Shuttle Radar Topography Mission (SRTM) data image Slide 17
Slide 18: Zircon Summary
Zircon Summary For personal use only • Tripitaka PFS very close to completion • ADN equity share of Tripitaka ~ 185,000 tonnes zircon • Upbeat outlook for zircon price • Zircon Prospectivity of Colona JV area superb Slide 18
Slide 19: Gold & Copper
GOLD & COPPER For personal use only Rover Barton Anabama Eyre Peninsula Moonta Slide 19
Slide 20: Rover Project Location
Rover Project Location For personal use only Slide 20
Slide 21: Tennant Creek Mines
Tennant Creek Mines For personal use only Mine Tonnes Cu% Cu (t) Au g/t Au (oz) Warrego 6,947,000 2.51 174,000 6.6 1,475,000 Nobles Nob 1,996,000 17.3 1,110,000 Juno 452,000 0.22 1,000 56.1 815,000 White Devil 1,618,000 14.6 761,000 Peko 3,676,000 4.01 147,000 3.5 414,000 Gecko 4,895,000 3.80 188,00
Slide 22: Rover Copper-Gold Project
Rover Copper-Gold Project ADN 100% For personal use only To To Tennant Tennant Creek Creek EL 8921 Magnetic Anomalies (Tennant Creek character) EL 7739 ELA 25512 Rover “A Field not a Prospect” Slide 22
Slide 23: Rover Plan and Section
Rover 4 Plan and Section ADN 100% For personal use only Slide 23
Slide 24: Rover Project Summary
Rover Project Summary For personal use only • Numerous targets to test in project tenements • Drilling at Rover 4 recently completed • Assays expected in coming weeks • Very promising recent results by Westgold Resources at Rover 1 (65.75m @ 11g/t Au, 0.75% Cu) Slide 24
Slide 25: Eyre Peninsula Gold Project
Eyre Peninsula Gold Project ADN 100% For personal use only BAGGY GREEN – PLAN > 2.5ppb calcrete anomaly RAB drilling (217 holes) RC drilling (31 holes) 2.6km >25ppb gold in drillhole >100ppb gold in drillhole Section 500 M Slide 25
Slide 26: Baggy Green Section
Baggy Green Section ADN 100% For personal use only W Surface E 0 Base of weathering 36/0.76 27/0.27 50 5/9.01 7/2.31 24/2.33 9/1.02 49/0.45 100 ed e r alis l d m in e Go zon 28/ 0.83 4/2.57 150 RAB drillhole RC drillhole 50 M 7/2.31 7m @ 2.31 g/t gold Slide 26
Slide 27: Anabama (Dark Horse) Copper Project
Anabama (Dark Horse) Copper Project ADN 100% For personal use only Blue Rose Results (PacMag Metals) 46m @ 2.2% Cu, 0.8g/t Au Blue Rose Dark Horse Gossan Float Inverted TMI Image Slide 27
Slide 28: Gold/Copper-Gold Summary
Gold/Copper-Gold Summary For personal use only • Significant copper and gold intersections at a a number of prospects • Potential “mineral fields” - not just one-off targets • 100% owned by Adelaide Resources Slide 28
Slide 29: Uranium
URANIUM For personal use only Eyre Peninsula Moonta Slide 29
Slide 30: Uranium Projects
Uranium Projects For personal use only Ulysses KO11S Strategic Strategic tenure tenure with with encouraging encouraging early early drilling drilling Slide 30
Slide 31: Eyre Peninsula Basement Uranium Project
Eyre Peninsula Basement Uranium Project ADN 100% For personal use only Assayed Assayed intersections intersections include: include: 66 metres metres at at 213 213 ppm ppm U U33O O88 77 metres metres at at 235 235 ppm ppm U U33O O88 66 metres metres at at 342 342 ppm ppm U U33O O88 66 metres metres
Slide 32: Further Uranium targets
Further Uranium targets ADN 100% For personal use only Ulysses KO11S 0 5 10 kilometres Anomaly Slide 32
Slide 33: Quasar Joint Venture
Quasar Joint Venture ADN 100% (Quasar earning 60%) For personal use only • Focus on exploration 1km x 1km gravity for sediment hosted survey uranium channels area • Promising signs in 2007 drilling including anomalous gamma at redox boundaries and Quasar attractive geology drillholes • Minimum $750,
Slide 34: Moonta-Wallaroo Uranium Project
Moonta-Wallaroo Uranium Project ADN 100% For personal use only Assayed Assayed intersections intersections include: include: 0.8 0.8 metres metres at at 1745 1745 ppm ppm U U33O O88 42.7 42.7 metres metres atat 278 278 ppm ppm U U33O O88 6.4 6.4 metres metres at at 554 554 ppm ppm UU33O O88 33 metre
Slide 35: Uranium Summary
Uranium Summary For personal use only • Discovery of first basement hosted uranium prospects on northern Eyre Peninsula (eg Ulysses) • Substantial joint venture with Quasar Resources searching for palaeochannel hosted deposits • Very promising intersections in assaying of historical Moonta drill cor
Slide 36: Adelaide Resources Summary
Adelaide Resources Summary For personal use only • Unlocking value with Iron Road transaction • Enviable position in zircon rich Eucla Basin • Advanced copper/gold prospects • Significant uranium potential in South Australia • Further exploration in 2008 across commodities Adelaide Resources current
Slide 37: Providing shareholders with discovery opportunities!
For personal use only Providing Providing shareholders shareholders with with discovery discovery opportunities! opportunities! Slide 37