Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Shareholder Meeting (November 2016)
22 slides from Middle Island Resources's shareholder meeting presentation, Nov 18, 2016
Slide 1: Exploring Golden Frontiers - Annual General Meeting 2016
For personal use only Exploring Golden Frontiers Middle Island Resources Annual General Meeting - 2016
Slide 2: Disclaimer Notice and Competent Person's Statement
Disclaimer Notice and Competent Person’s Statement For personal use only Disclaimer Notice The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Middle Island Resources Limited (“MDI”) nor do
Slide 3: Capital Structure
Capital Structure ASX Code: MDI For personal use only Shares on Issue ~469M Unlisted Options 0.8M Number of Shareholders 682 Top 20 Shareholders ~65% Institutions ~20% Directors ~20% Cash (as at 30 September 2016) ~A$2.5M Market Cap (at ~A$0.06) ~A$27.5M 5 5
Slide 4: Sandstone Gold Project - Summary
Sandstone Gold Project - Summary For personal use only • A 100% interest in the Sandstone gold project in Western Australia. • Two adjacent, granted and fully permitted Mining Leases collectively covering 20 square kilometres. • Mineral Resources (JORC 2004) of ~11Mt grading 1.4g/t Au for 480,000 ou
Slide 5: Location & Tenure
Location & Tenure For personal use only • ~11km south of Sandstone, 600km northeast of Perth. • All-weather, sealed road between Mt Magnet and Leinster. • Two granted Mining Leases of 20 square km that pre-date Native Title; M57/128 & M57/129. • Operating licence, permitted tailings storage facility
Slide 6: Geology
Geology • Gold mineralisation is For personal use only hosted within the Archaean Sandstone greenstone belt. • Triangular shaped belt within the Southern Cross Province that forms the central spine of the Archaean Yilgarn Block. • Sandstone greenstone belt forms a classic ‘hourglass’ structure at th
Slide 7: Processing Plant
Processing Plant • Constructed in 1994 with a For personal use only capacity of 250,000tpa. • Upgraded to 600,000tpa by Troy in 1999. • Troy operated plant from 1999 to 2010. • Processed 4.4Mt to produce ~508,000 ounces at 3.6g/t Au. • Plant placed on care & maintenance in September 2010. • Conventi
Slide 8: Infrastructure
Infrastructure • Contract diesel-generated For personal use only power plant. • Fuel tanks, workshops, laboratory & mine offices. • Substantial inventory of equipment & spares. • Permitted in-pit tailings facility with ~12 months’ capacity. • Permitted bore field. • Three equipped camps in nearby Sa
Slide 9: Production Potential
Production Potential • SXG completed pit optimisations on For personal use only Two Mile, Shillington & Shillington North deposits in 2013. • Modelling based on treating ~500,000tpa from Shillington & Two Mile open pit cut-backs & extensions. • Average stripping ratio of ~5:1 over an initial period
Slide 10: Feasibility Progress
Feasibility Progress For personal use only • Infill resource definition drilling (153 holes, ~4,200m); completed August 2016. • Updated resource estimate; imminent. • Process engineering & mining/crushing proposals; well advanced. • Complete Pre-feasibility Study; January 2017. • Assuming positive P
Slide 11: Exploration Progress
Exploration Progress For personal use only • Geological & geophysical review of Two Mile Hill BIF targets; completed August 2016. • Trial geophysical survey (DHEM, FLEM, IP) at Two Mile Hill; completed September 2016. • Full FLEM survey at Two Mile Hill; completed October 2016. • ~1,500m diamond cor
Slide 12: Brownfields Targets - Two Mile Hill
Brownfields Targets - Two Mile Hill • Two Mile Hill tonalite; For personal use only 372.7m at 1.52g/t 230.4m at 1.62g/t 353.3m at 1.04g/t 141.0m at 2.30g/t 156.3m at 1.14g/t • Adjacent, obliquely intersecting BIF some 200m below surface; 8.5m at 49g/t 13.7m at 26g/t 4.5m at 25g/t 3.4m at 30g/t 3.5m
Slide 13: Resource Potential - Two Mile Hill
Resource Potential - Two Mile Hill For personal use only 15 15
Slide 14: Resource Potential - Two Mile Hill
Resource Potential - Two Mile Hill For personal use only 16 16
Slide 15: Resource Potential - Two Mile Hill
Resource Potential - Two Mile Hill For personal use only 17 17
Slide 16: Underground Potential – Two Mile BIFs
Underground Potential – Two Mile BIFs • Geophysical review For personal use only & surveys identified a further two BIF horizons. • Re-sampling results include: 22m at 23.8g/t Au 8m at 56.0g/t Au 5m at 26.5g/t Au • ~1,500m diamond drilling programme completed to extend and confirm upper & lower mine
Slide 17: Greenfields Targets
Greenfields Targets • Additional open pit For personal use only potential centred on Goat Farm, Eureka & Plum Pudding deposits. • Significant geochemical targets identified at Mt Klemptz & Macintyre; 11m at 3.31g/t 5m at 3.86g/t 17m at 2.24g/t • Third-party deposits, comprising some 230,000oz, and e
Slide 18: Greenfields Targets
Greenfields Targets • Additional tonalite For personal use only targets identified proximal to Two Mile Hill. • Potential mineralised repetitions within prospective Shillington BIF. • Major thrust identified in footwall of Shillington BIF package. • Systematic database review & targeting study comme
Slide 19: Post-acquisition Progress
Post-acquisition Progress For personal use only • Transaction successfully completed on 11 July 2016. • ~2,400m infill RC resource definition drilling programme completed. • Updated resource estimate (JORC 2012) on Shillington, Shillington North & Two Mile Hill open pit deposits imminent. • PFS acti
Slide 20: Reo Gold Project – Burkina Faso
Reo Gold Project – Burkina Faso For personal use only • Significant improvement in market sentiment towards West Africa. • Seeking partner to help fund the project through to feasibility. • Awaiting outcome of permit extension & renewal applications. • MDI may recommence exploration. • Initial focus
Slide 21: Investment Highlights
Investment Highlights For personal use only • Sandstone acquisition equates to a cost of only US$4 per resource ounce of gold. • Potential near-term gold production requiring modest capital. • Considerable resource & exploration upside. • Opportunity to deal on or toll-treat third-party deposits wit
Slide 22: Thank you & questions
For personal use only Unit 1, 2 Richardson Street West Perth Thank you & questions Western Australia, 6005 Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au
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