Orpheus Uranium Limited · ASX:ORP
Orpheus Uranium — Shareholder Meeting (November 2021)
21 slides from Orpheus Uranium's shareholder meeting presentation, Nov 30, 2021
Slide 1: 2021 Annual General Meeting
2021 Annual General Meeting LUMWANA WEST, ZAMBIA Resource drilling with exploration upside MURDIE, SOUTH AUSTRALIA Massive iron oxide-copper-gold targets LINDSAY OWLER, Director/CEO – November 2021 Argonaut Resources NL • ASX:ARE • Level 6, 100 Pirie Street, Adelaide, SA, 5000 www.argonautresources.
Slide 2: Introducing Argonaut
INTRODUCING ARGONAUT Argonaut Resources NL is an ASX-listed company focused on: • developing its Lumwana West copper-cobalt project in Northwestern Zambia; and • exploring its 100% owned Murdie iron oxide copper-gold (IOCG) targets in South Australia. Argonaut invests in copper exploration and devel
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS Tier one copper exploration assets Lumwana West, Zambia Murdie, South Australia • Copper-cobalt deposit confirmed by 50+ • Iron oxide copper-gold (IOCG) targets in drill holes. Olympic Dam geological domain. • Deposit sits between Barrick and First Quantum • Targets nearby to O
Slide 4: Corporate Overview
CORPORATE OVERVIEW ASX Code ARE Capital structure Share price: A$0.075 (23 November 2021) Shares on issue: 3,606,200,000 Market capitalisation: A$25 million (23 November 2021) Liquidity 13.2 million shares/day Cash (30 Sept 2021) A$3,160,000 Directors Pat Elliott Non-Executive Chairman Lindsay Owler
Slide 5: Lumwana West, Zambia
LUMWANA WEST, ZAMBIA Copper and cobalt NYUNGU COPPER- 350,000 mE 400,000 mE DEMOCRATIC Location COBALT DEPOSIT REPUBLIC OF CONGO Z AM B IA y Numerous adjacent and ZAMBIA regional copper targets. Kansanshi First Quantum Minerals y Surrounded by three major copper mines. 8,650,000 mN Solwezi Lumwana y
Slide 6: Nyungu Copper-Cobalt Deposit and surrounding targets
338,000 mE 340,000 mE 342,000 mE NYUNGU COPPER-COBALT DEPOSIT And surrounding targets 8,632,000 mN • NYUNGU CENTRAL: deposit is defined by over 50 drill holes. A significant mineralised 61m at 0.42% Cu from 184m copper deposit with strong potential 47m at 0.57% Cu from 20m for extensions. 90m at 0.4
Slide 7: Nyungu Copper-Cobalt Deposit: Exploration target
NYUNGU COPPER-COBALT DEPOSIT Exploration target Commodity Tonnage Grade Contained Metal Range Range Range (Mt) (%) (kt) Copper* 130 to 180 0.45 to 0.65 580 to 1,150 Cobalt^ 15 to 20 0.08 to 0.12 12 to 24 * Copper Exploration Target estimation announced to the ASX by Argonaut on 9 April 2013. ^ Cobal
Slide 8: Nyungu Copper-Cobalt Deposit: Long section – copper
NYUNGU COPPER-COBALT DEPOSIT Long section – copper NORTH SOUTH 1700m 0RL OPEN 200RL OPEN 400RL Nyungu Central Copper-Cobalt Deposit 0 200 metres 400 Long section 339,200mE Looking east Nyunga 11 2021 Annual General Meeting 8
Slide 9: Nyungu Copper-Cobalt Deposit: Cross sections – copper
NYUNGU COPPER-COBALT DEPOSIT Cross sections – copper 339,100mE 339,200mE 339,300mE 339,400mE 339,500mE 339,100mE 339,200mE 339,300mE 339,400mE 339,500mE 339,200mE 339,300mE 339,400mE 339,500mE 339,600mE West East West East West East Natural surface Natural surface Natural surface Soil and duricrust
Slide 10: Nyungu Copper-Cobalt Deposit: 2021 drilling program
NYUNGU COPPER-COBALT DEPOSIT 2021 drilling program 339,000 mE 339,500 mE 340,000 mE Diamond drilling program Soil geochemistry Cu (XRF) Sample location 250ppm y 2,800m of diamond core drilling 200ppm 150ppm 100ppm 50ppm y 11 holes completed, drilling continuing 20ppm 8,630,500 mN Drilling Existing d
Slide 11: Nyungu Copper-Cobalt Deposit: 2021 drilling program
NYUNGU COPPER-COBALT DEPOSIT 2021 drilling program Geologists have observed significant intervals of visible copper mineralisation in drill core during the 2021 drilling program.* Example of transitional zone mineralisation1. Example of massive mineralisation in Supergene Zone1. Example of primary m
Slide 12: Nyungu Copper-Cobalt Deposit: Metallurgical testwork program
NYUNGU COPPER-COBALT DEPOSIT Metallurgical testwork program Argonaut is testing the metallurgical properties of Saleable concentrate oxide, transitional zone and produced at 25.6% copper fresh (sulphide) ores. at 87% recovery. This information is driving process flowsheets and scoping project econom
Slide 13: Conceptual processing flowsheets
NYUNGU COPPER-COBALT DEPOSIT Conceptual processing flowsheets Stage 1 - Oxide/transition ore Copper ore Mining and crushing Heap leach SX-EW Potential for low cap-ex, near-term copper production from oxide and transitional zone Copper cathode Stage 2 - Fresh ore Copper ore Mining and crushing Millin
Slide 14: Murdie Project, South Australia
136° 30' E 137° 00' E 137° 30' E 138° 00' E MURDIE PROJECT, SOUTH AUSTRALIA -30° 00' S Copper Olympic Domain y Tier-one geological address. EL 6320 y Massive anomalies will multiple Andamooka Olympic Dam -30° 30' S deposit-scale target zones. LAKE TORRENS Roxby Downs Red Dam EL 6320 Acropolis Wirrda
Slide 15: Murdie Project: West Lake Torrens anomaly
MURDIE PROJECT West Lake Torrens anomaly 5 750,000m E 755,000m E 760,000m E 750,000m E 755,000m E 760,000m E . - 0 0 - 6 . 1 5 0 - EL 5937 West Lake Torrens EL 5937 West Lake Torrens Nearshore targets 8 - - Offshore targets 1 6 6 0 6,570,000m N 6,570,000m N . - 5 2 7 5 - . 0 . 0 - 7 5 7 - Gravity hi
Slide 16: Murdie Project: Drilling
MURDIE PROJECT Drilling y The first hole of the current program, WLTD001, at Smith Dam 1 intercepted an IOCG alteration system. y The intensity of alteration indicates WLTD001, 897-899m, Murdie Project: IOCG- style hematite alteration and brecciation. that WLTD001 is 300 to 1,000m from possible copp
Slide 17: Uranium Exploration Assets
URANIUM EXPLORATION ASSETS Orpheus Minerals Ltd Initial Public Offering Ranger North-East Darwin Ranger y IPO preparations are proceeding. Mt Douglas T-Bone y Managing director, Simon Mitchell, appointed. y The Argonaut board is considering: NORTHERN TERRITORY » entitlement offer to Argonaut shareho
Slide 18: Appendices
APPENDIX INVESTOR UPDATE – November 2021 APPENDICES Argonaut Resources NL • ASX:ARE • NOVEMBER 2021 • APPENDICES Level 6, 100 Pirie Street, Adelaide, SA, 5000 www.argonautresources.com 18
Slide 19: Nyungu Copper-Cobalt Deposit: Drilling concepts – copper
NYUNGU COPPER-COBALT DEPOSIT Drilling concepts – copper Hole From (m) To (m) Interval (m) Cu (%) Hole From (m) To (m) Interval (m) Cu (%) NYU11RD001 63 90 27 0.51 NYRD031 26 58 32 0.46 and 184 245 61 0.42 including 40 55 15 0.71 and 209 222 13 0.80 77.00 83.10 6.10 0.66 and 274 284 10 0.81 and 157 1
Slide 20: Nyungu Copper-Cobalt Deposit: Drill intercepts – cobalt
NYUNGU COPPER-COBALT DEPOSIT Drill intercepts – cobalt Hole From (m) Interval (m) Co (%) Cu (%) NYU11RD001 37 120.0 0.06 0.34 including 104 26.0 0.13 0.28 NYU11RD010 155 72.0 0.08 0.61 including 167 38.0 0.10 0.91 NYU11RD013 31 1.0 0.56 0.57 NYU11RD022 12 88.2 0.07 0.47 including 42 10.0 0.19 0.61 N
Slide 21: Project sensitivity to economic factors
NYUNGU COPPER-COBALT DEPOSIT PROJECT Very SENSITIVITY low stripping ratio TO ECONOMIC FACTORS Whittle Pit shells Pits 100% Pit Shell Section A:A A A N North 100% Pit Pit Shell • The pit optimisation has Section B:B y Stripping ratio generated a single main 1.5:1 to north pit to the 280m and smaller
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