Australian Mines Limited · ASX:AUZ
Australian Mines — Shareholder Meeting (November 2009)
27 slides from Australian Mines's shareholder meeting presentation, November 2009
Slide 1: Gold Projects and Exploration Update
Australian Mines Limited GOLD PROJECTS AND EXPLORATION UPDATE November 2009 Presented by Neil Warburton
Slide 2: Disclaimer
Disclaimer • This Document ((and the information contained herein)) is confidential to Australian Mines Limited ((“AUZ” or “the Company”). p y) • This Document is not intended for and should not be distributed to any other person than as permitted herein. By receipt of the Document, the Recipient ag
Slide 3: Tenement Acquisition
AUZ Tenement Acquisition • The combined Golden Ridge and East Location 45 Project has an area of 258 km2. • Exploration ground to the west of Mt Martin was pegged • An exploration licence was pegged over prospective gold ground to the south of Location 45 • A conceptual gold target was pegged at Bal
Slide 4: Tenement Acquisition map
® Corsair cs) ® Boorara @® Hannans South GRJV Australian Mines 44% of Ni 100% of Au @OVFeysville @HBJ Western Australia Dawns Hope Kambalda Balagundi Well Project} @ qu Australian Mines 100% oS i) ofireland ttt ® Jubilee laa cone 2s 8 cS) Cutters Luck a \ we ; Location 45 i) \ \ \ \ < ~ Golden Ridge
Slide 5: Exploration Progress at Golden Ridge
AUZ Exploration Progress at Golden Ridge Woodline • RC drilling has increased the down plunge resource at Woodline 1 and a mining optimisation study is in progress. • Auger drilling to the NE has located a strong gold in soil anomaly. anomaly Woolibar Fault Flexure • Phase 1 auger drilling has gener
Slide 6: Exploration Progress at Golden Ridge
Exploration Progress at Golden Ridge
Slide 7: Gold Resources
AUZ Gold Resources L Location ti Resource R Resource R Gold G ld Gold G ld Category Tonnes g/t Ounces Woodline 1 Measured Indicated 107,000 2.57 8,850 Inferred Sub-total 107,000 2.57 8,850 Mt Martin Mine Measured Indicated 4 200 000 4,200,000 15 1.5 202 550 202,550 Inferred Sub-total 4,200,000 , , 1
Slide 8: Soil Anomaly at Woodline North
AUZ Soil Anomaly at Woodline North • Auger drilling has defined a + 80 ppb gold in soils anomaly l att Woodline W dli North. N th • The Th anomaly l appears to t be b in i an area off deeper d cover, but is on the same trend as the outcropping gold mineralisation at Wombola Dam. Dam
Slide 9: Soil Anomaly at Woodline North
Soil Anomaly at Woodline North
Slide 10: Woodline 1 Interpreted Long Section
AUZ Woodline 1 Interpreted Long Section • A shallow open pit was mined to 31 metres for approximately 5,000 ounces. • Woodline 1 is currently undergoing a ‘mining optimisation’ study as a phase 2 open pit cutback. • The latest down plunge RC drilling suggests that intermediate intrusives may stope o
Slide 11: Woodline Interpreted Long Section
Woodline 1 Interpreted Long Section
Slide 12: Soil Anomaly at Woolibar Fault
AUZ Soil Anomaly at Woolibar Fault • Auger drilling has defined a 2km long gold in soils il anomalyl att the th Woolibar W lib Fault, F lt with ith peak k values in the order of + 80 ppb . • The anomaly appears to be located at a change in direction of the Woolibar Fault. Fa lt • Phase 2 infill auge
Slide 13: Soil Anomaly at Woolibar Fault Flexure
Soil Anomaly at Woolibar Fault Flexure
Slide 14: History of Mt Martin Gold Mine
Blair AUZ Regional - Gold History of Mt Martin Gold Mine AUZ • Mined intermittently between 1923 – 1997 by underground and open pit to produce 180,000 ounces. • DIORO began g steepening p g the ramp p in June 2009 and expect to mine 220,000 tonnes at 1.5 g/t by December 2009 when mining will cease.
Slide 15: Mt Martin Long Section
AUZ Mt Martin Long Section • Mt Martin pit is 900 metres long and mines eight major ore shoots which continue at depth. • Geology better understood as a result of open pit mining. • Shoots continuity is defined by open pit and underground mining. • Very limited drilling at depth.
Slide 16: Mt Martin Long Section
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Slide 17: Mt Martin Geology Plan
AUZ Mt Martin Geology Plan • AUZ g geologists g have been visiting g the pit p and are familiar with the geology. • The Th geology l is i better b tt understood d t d now that th t some areas off the pit are in fresh rock. • The Underground stopes are generally surrounded by bulk g ore . tonnage • S
Slide 18: Mt Martin Geology Plan
| Quartz-biotite-cummingtonite-carbonate- (cordierite) alteration 5) Projected gold lodes 1.0 g/t Au cut-off Ly Quartz-fuchsite-aluminosilicate alteration Talc-chlorite-arbonate-anthaphyillite ultramafics = Sediments, predominantly shales —“_Cross-fault/fracture — __ Foliation trajectory Mount Marti
Slide 19: Mt Martin Geology Plan
North Shaft Main Shear Cross-fault/fracture — _ Foliation trajectory [C_] Quartz-biotite-cummingtonite- carbonate-(cordierite) alteration % +1 g/t Au mineralisation; Ni indicates +1% Ni content [ Quartz-fuchsite-aluminosilicate alteration [| Talc-chlorite-carbonate-anthophyite ultramafic
Slide 20: Mt Martin Exploration Potential
AUZ Mt Martin Exploration Potential Mt Martin • Mine geologists have new theories on the structural control of ore. ore • Shallow drilling from the pit floor will target bulk tonnage ore ore. • Diamond drilling will test down plunge of the underground ore shoots. shoots Swift • RC drilling will test
Slide 21: Mt Martin Exploration Potential
Mt Martin Exploration Potential
Slide 22: Swift Resource Model and RC Drilling
AUZ Swift Resource Model and RC Drilling • Drilled with RC holes – current 15m pit has mined into the leached zone. one • 130,000 130 000 tonnes @ 22.56 56 g/t for 10 10,700 700 ounces in Indicated Resource. • Swift resource is currently undergoing a mining optimisation’ ‘mining optimisation study.
Slide 23: Swift Resource Model and RC Drilling
AUZ Swift Resource Model and RC Drilling Open Pit – 15m Deep
Slide 24: Regional Gold Summary
Blair AUZ Regional -Summary Gold AUZ • Regional gold exploration is progressing at the Woodline and Woolibar Fault projects and new soil anomalies need drill testing. • The Mt Martin gold area has become the major company focus. • AUZ is actively seeking new opportunities in gold.
Slide 25: Nickel Projects Retained for the Future
AUZ Nickel Projects Retained for the Future Nickel Projects The Company retains for the future some 28,000 tonnes of nickel metal in the form of nickel sulphide p resources in three projects: • Mining at Blair Nickel Mine is indefinately suspended after the company was forced to sell off the plant a
Slide 26: Company Overview
AUZ Company Overview • The company is currently reviewing all options in relation to maximising shareholder’s value once Mt Martin M ti isi returned t d to t your company in i January J 2010. • Exploration E l ti on gold ld tenements t t will ill be b expanded d d in 2010. • Gold G ld acquisitions i
Slide 27: Competent Person's Statement
AUZ Competent Person’s Statement • The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr M Elias who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Elias is employed by CSA Global Pty Ltd andd iis a N N
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