Slide 1: US Gold and Silver Projects – Exploration Update
Carnavale Resources Limited For personal use only ASX:CAV US Gold and Silver Projects Arizona and Nevada Exploration Update Andy Beckwith, Managing Director September 2014
Slide 2: Statements
Statements Competent Persons Statement For personal use only The information in this report that relates to exploration results is based on, and fairly represents information and supporting documentation prepared by Mr Andrew Beckwith, a Competent Person who is a member of The Australasian Institute
Slide 3: CAV - Capital Structure
CAV - Capital Structure For personal use only CARNAVALE RESOURCES LIMITED ASX Code: CAV TOJO Transaction Shares: 195.1M Exploring US Au-Ag and Base Metal Options: 131.8M (@ $0.03) projects Cash: $1.65M (Sept 2014) M. Cap: $2.9M (@ $0.015) Option to Acquire Tojo Top 20: 59.7% US$500,000 project exp
Slide 4: Project Locations
Project Locations For personal use only New York San Francisco Red Hills Las Vegas Los Angeles Little Butte Phoenix Carnavale Resources Limited (ASX:CAV) 4
Slide 5: Why the US – You can find and build BIG MINES
Why the US – You can find and build BIG MINES For personal use only “W orld C lass”Gold C opperS ilver D eposits and M ines Carlin, Epithermal, Intrusion related, Porphyry, Orogenic 3rd Ranked World Gold Producer 5th Ranked World Mining Jurisdiction P roven L arge S c ale O perations Opera
Slide 6: Little Butte - Arizona
Little Butte - Arizona For personal use only Carnavale Resources Limited (ASX:CAV) 6
Slide 7: Railway Prospect – Oxide Gold Target
Railway Prospect – Oxide Gold Target For personal use only Two high grade shallow E astZone S ignific antInterc epts 22.9m @ 1.44 g/t Au from 19.8m, oxide gold targets 4.6m @ 33.65 g/t Au from 22.9m 22.9m @ 4.06 g/t Au from 6.1m, 10.1m @ 2.59 g/t Au from 1.4m 10.7m @ 4.65 g/t Au from 39.6m 9.1m @ 2.
Slide 8: Railway Prospect
Railway Prospect For personal use only E astZone • H igh Grad e Gold from su rfac e • +200m strike • +110m depth • O pen to north and atd epth W estZone • Limited drilling to date • 220m between sections • Open along strike and at depth P ositive prelim inary m etallu rgic altestwork Carnavale Resou
Slide 9: Little Butte – Section 2610mN
Little Butte – Section 2610mN For personal use only S upergene S upergene S upergene S upergene Carnavale Resources Limited (ASX:CAV) 9
Slide 10: Little Butte – Section 2830mN
Little Butte – Section 2830mN For personal use only S upergene S upergene Carnavale Resources Limited (ASX:CAV) 10
Slide 11: Little Butte
Little Butte For personal use only Potential sulphide targets at depth “High Chargeability” coincident anomalies (green areas) Potential plunging “shoots” at depth Possible copper-gold rich sulphide Carnavale Resources Limited (ASX:CAV) 11
Slide 12: Little Butte – Project Upside
Little Butte – Project Upside Numerous For personal use only Large portion of subparallel NS structures Project Area Untested along Remain untested untested strike potential under shallow Railway Prospect cover current and Only 12% of Project Area has 3km proposed IP coverage (data poor) drilling
Slide 13: Red Hills, Nevada - “Carlin” Au-Ag Target
Red Hills, Nevada - “Carlin” Au-Ag Target Carlin Gold Trend For personal use only Produced >70Moz Au Discovered >150Moz Au Nevada 2013 Production ~5M oz Au Carlin style mines dominate Nevada’s production Carnavale Resources Limited (ASX:CAV) 13
Slide 14: Red Hills, Nevada – Tier Target
Red Hills, Nevada – Tier 1 Target Long For personal use only Canyon Large “Carlin” 1-20Moz Target (Tier 1) Deposit Under explored and over-looked prospective rock units Long Canyon (>2.6Moz Au) recent discovery has changed perception Long Canyon (+2.6Moz @ 3g/t) Kinsley • Recent “major” Carl
Slide 15: Red Hills, Nevada
Red Hills, Nevada Targeting Tier 1 scale discovery For personal use only • Excellent structural setting akin to “Carlin-Betze” mine area (+50Moz) • Strong Au-Ag mineralizing system evident • Historical Zn-Cu-Ag-Au mining • Highly prospective Pogonip Limestone and Notch Peak rock units as seen at L
Slide 16: Red Hills - 2km of anomalous geochem
Red Hills - 2km of anomalous geochem For personal use only Anomalous Au-Ag in rockchips Target zone ~2km • Gold - 38 samples > 0.1g/t Au to peak of 2.44g/t • Silver - 33 samples > 50g/t Ag to peak of 2439g/t (78 oz/t) • Multi-element support Rec entgeoc hem sam pling - resu lts pend ing • ) Carn
Slide 17: Programme and News Flow
Programme and News Flow For personal use only Red Hills Railway Railway Geochem Drilling Drilling Results Approval Results Red Hills - Geochem sampling results (Sept) Little Butte - Drilling approval (Sept/Oct) Little Butte - Drilling commencement (Oct) Little Butte - Metallurgical testwork
Slide 18: Carnavale poised for Impact
Carnavale poised for Impact For personal use only Company is actively exploring “Walk-up” Oxide Gold Targets Large Carlin Target Results Sept/Oct Experienced ASX Management and Successful Explorers Carnavale Resources Limited (ASX:CAV) 18
Slide 19: Little Butte Terms
Little Butte Terms For personal use only 10 Year Option to earn 100% equity from Minquest $6M total project expenditure $150k first year commitment, escalating on yearly basis Small cash payments to vendor per year, totaling $400k over 10yrs. (1st yr $10K, 2nd $20k, 3rd $20K, $50k thereafter
Slide 20: Red Hills Terms
Red Hills Terms For personal use only Tojo has right to earn 75% in Joint Venture with Columbus Gold Corp (TSX-V: CGT) $2M to earn initial 51% within 3yrs (decision point) Additional $7M to increase to 75% within further 4 yrs At 75%, Columbus has right to fund pro rata or revert to 2% NSR. To