Iondrive Limited · ASX:ION
Iondrive — Investor Presentation (September 2019)
29 slides from Iondrive's investor presentation, Sep 23, 2019
Slide 1: Southern Gold Corporate Presentation
SOUTHERNGOLD PRECIOUS METALS EXPLORATION IN SOUTH KOREA 78.6g/t gold and 13,000g/t silver (1.3% Ag) KRS205352: Deokon Au-Ag Project, South Korea ASX Ticker: SAU Corporate Presentation September 2019
Slide 2: Disclaimer
Disclaimer SOUTHERNGOLD Forward-looking statements The information in this presentation is published to inform you about Southern Gold Limited (“Southern Gold”) and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. These may inc
Slide 3: Summary
Summary SOUTHERNGOLD ❑ Focus on South Korea, a relatively unknown jurisdiction with a long history of gold mining that has seen very little modern exploration or recent mine development ❑ High-grade gold-silver targets, with conceptual strategic target of Tier 1 gold-silver epithermal deposits, for
Slide 4: Strategy
Strategy SOUTHERNGOLD Eunsan Au Mine, South Korea, 2019 “Discovery, definition and development of high-grade precious metal deposits in South Korea.” ❑ Focus on South Korea ❑ Focus on high-grade gold-silver ❑ Building a team of good people with a… ❑ ‘boots on the ground’ exploration culture that is…
Slide 5: Corporate Overview
Corporate Overview SOUTHERNGOLD Board Number of ordinary shares on issue 83.4m Top 20 hold approximately 57% Greg Boulton, Chairman Businessman Share price (20 Sept. 2019) AUD$0.245 Capital markets and investment Market capitalisation (undiluted) AUD$20.4m expertise = AUD$2.3m rights + AUD$0.44m pla
Slide 6: Share Price – Past 5 Years
Share Price – Past 5 Years SOUTHERNGOLD 5 Year Price Graph 6
Slide 7: South Korea (I)
South Korea South Korea (I) SOUTHERNGOLD ❑ No government royalties ❑ Tax rate 24.2% (<KRW300b=US$300m); or 22.0% (<KRW20b=US$20m) ❑ Government encouraging development through funding (e.g. KORES) ❑ Established infrastructure: road, rail, electricity, internet ❑ Large manufacturing base driving leadi
Slide 8: South Korea (II)
South Korea (II) SOUTHERNGOLD Australia = AAA (Moody’s, S&P, Fitch) Australia ~41% Ease of Doing Business Southern Gold is Regional Ranking a member of the Australia-Korea Business Council Australia Ranked (AKBC) #18 Australia Rank 4 88
Slide 9: South Korea (III)
South Korea South Korea (III) SOUTHERNGOLD Infrastructure ❑ Extensive road network ❑ High speed rail network ❑ 5 x Major ports ❑ 2 x Major international airports ❑ High speed internet ❑ Manufacturing in Gwangju, Busan etc ❑ 23 nuclear reactors provide ~30% power ❑ SAU sample prep facility at Pohung
Slide 10: Projects (I)
Projects (I) SOUTHERNGOLD 70km2 Granted Priority 1 graticules Priority 2 BMV 70km2 10
Slide 11: Projects (II)
Projects (II) SOUTHERNGOLD Exploration Footprint SAU 100% 15 granted graticules [40km2] Mine Development BMV JV/ SAU 50% 11 granted graticules [31km2] 11
Slide 12: Team
Team SOUTHERNGOLD Principal Objective: Take our ‘first mover’ advantage to build a pipeline of first class exploration targets and a regional ground position that is the best of any foreign operator. Weolyu Advanced Exploration Drilling for JORC Res. Beopseongpo, Deokon, Aphae, Neungju ++ Greenfield
Slide 13: Indochina Goldfields 1990's
Indochina Goldfields 1990’s SOUTHERNGOLD Note: this is not a Southern Gold project 13
Slide 14: Advanced Exploration
Exploration Advanced Exploration SOUTHERNGOLD Principal Objective: Drill to confirm discoveries and build a significant JORC resource base of high grade Au-Ag deposits. 14
Slide 15: Discovery 1: Weolyu
Discovery 1: Weolyu SOUTHERNGOLD ❑ Weolyu North is an historic small scale Ag- Au-Ge mine; ❑ Very high grade silver likely indicative of higher level of mineralised system; ❑ Newly discovered zone of Au-Ag epithermal veins at NEW the top of steep ridge DISCOVERY to the south; ❑ Mineralised system is
Slide 16: Weolyu (II): Drilling
Weolyu (II) : Drilling SOUTHERNGOLD Drill Hole ID From (m) Int (m) Au (g/t) Ag (g/t) Target WUDD006 222.40 2.47 2.36 37 Summit Vein Zone including: 222.40 0.70 3.19 64 Summit Vein Zone 231.40 0.30 21.10 49 Summit Vein Zone WUDD007 152.90 3.58 4.80 129 Moonlight Vein 165.70 0.92 13.55 447 Moonlight V
Slide 17: Weolyu (III): In Situ Vein
Weolyu (III): In Situ Vein SOUTHERNGOLD Southern Shoot 310 Level – 30m strike at avg. 0.42m vein thickness @ 8.3 g.t Au & 193 g/t Ag Southern Shoot 330 Level – 25m Line ID Int (m) Au (g/t) Ag (g/t) Au (gm) strike at avg. 0.44m vein thickness @ FS330N_014 0.4 32.80 764.0 13.1 13.1 g/t Au & 522 g/t Ag
Slide 18: Discovery 2: Deokon
Discovery 2: Deokon SOUTHERNGOLD Discovery Outcrop, ‘Thorn Zone’ vein, 500m along strike of the ‘Bonanza Zone’ vein. Intense hydraulic fracturing and mesocrystalline to chalcedonic quartz flooding within a four-metre-wide core zone of sheeted and networked vein development. Discovery Sample KRS20535
Slide 19: Deokon (II)
Deokon (II) SOUTHERNGOLD New Float Sample KRS206270, 53.9g/t Au and 6,240g/t Ag. Rhyolitic to dacitic lapilli tuff, intensely silica-illite/adularia-pyrite altered, with oxidation of pyrite to limonite & lesser haematite. Cut by sheeted interlocking to comb quartz veining. Golden Surprise, Bonanza Z
Slide 20: Deokon (III)
Deokon (III) SOUTHERNGOLD Slab photos of samples KRS205352 78.6g/t Au and 13,000g/t Ag (upper sample) and KRS206389 6.8g/t Au and 1010g/t Ag (lower sample) both float samples from the Bonanza Zone with visible native silver in hand specimen. Land access almost granted – expect to be drilling the Bon
Slide 21: Discovery 3: Beopseongpo
Discovery 3: Beopseongpo SOUTHERNGOLD ❑ 5 major veined zones identified with widths in excess of 20m and strike length 2,750m; ❑ Small scale historic mine present; ❑ High-level low- sulphidation style deposit with target @ 100m-500m depth; ❑ World-class low- sulfidation epithermal vein- breccia host
Slide 22: Discovery 4: Neungju
Discovery 4: Neungju SOUTHERNGOLD Subcrop sample KRS206458, 31.8g/t Au and 6.6g/t Ag. Naesin Vein Zone (Western end). 22
Slide 23: Mine Development
Mine Development SOUTHERNGOLD Principal Objective: Rapid, low capital intensity, mine development to achieve first gold pour as soon as possible. 23
Slide 24: JV with BMV
JV with BMV SOUTHERNGOLD 50%/50% JV with (LSE: BMV)* Kochang Proposed Mine Layout Aim of the JV is to: ❑ Reopen old high grade gold mines ❑ Extract using simple process e.g. gravity or vat leach ❑ Keep capital intensity low ❑ Achieve cash flow to organically fund South Korea Currently seeking regula
Slide 25: 50% JV: Kochang (II) - ETR
50% JV: Kochang (II) - ETR SOUTHERNGOLD Exploration Target Range (ETR) 500,000 and 700,000 tonnes, with a grade range of 5.0 to 7.0 g/t gold and 27g/t and 35 g/t silver. (80-150koz Au) This exploration target in not a mineral resource and is conceptual in nature. The estimate is based upon 3D modell
Slide 26: 50% JV: Gubong (II) - ETR
50% JV: Gubong (II) - ETR SOUTHERNGOLD Exploration Target Range (ETR): 1.2 to 2.3mt @ 6 – 8g/t Au (230-580koz Au) Exploration See inset area Vein No6 only Target This exploration target in not a mineral resource and is conceptual in nature. Exploration carried out to date is insufficient to estimate
Slide 27: It can be done…
It can be done… SOUTHERNGOLD Indochina Goldfields Source: Doug Kirwin, presentation 2019 Underground Operations – Eunsan (KDB Bank Korea 2013) 27
Slide 28: Near Term News Flow
Near Term News Flow SOUTHERNGOLD ❑ First drilling of major new vein system 2019Q3 at Beopseongpo (SAU 100%) ❑ Modern drill testing of high-grade project 2019H2 – Deokon (SAU 100%) ❑ Drilling (FY2019/20) and Maiden JORC resource at Weolyu (SAU 100%) ❑ Other earlier stage projects drill tested 2020H1
Slide 29: Why Invest In Southern Gold?
Why Invest In Southern Gold? SOUTHERNGOLD ❑ South Korea has seen little modern exploration or development ❑ We have a ‘first mover’ advantage with significant tenure position ❑ We have an exploration team with excellent discovery record ❑ Tight capital structure (83.4m) and low EV (~A$16m/~US$9.7m/~