Cobre Limited · ASX:CBE
Cobre — Merger or Acquisition (December 2020)
26 slides from Cobre's merger presentation, Dec 17, 2020
Slide 1: Introduction to Kalahari Copper Belt Botswana Exploration Projects
For personal use only BOTSWANA Introduction to Kalahari Copper Belt Botswana Exploration Gaborone Projects ASX: CBE This presentation was authorised for release on the ASX by the Board of Cobre Limited December 2020
Slide 2: Disclaimer
Disclaimer Not for release to US wire services or distribution in the United States. For personal use only This investor presentation has been prepared by Cobre Limited (ACN 626 241 067). This presentation is for information purposes only. This presentation is not a prospectus nor an offer for secur
Slide 3: Cobre to acquire a controlling interest in Kalahari Metals Limited
Cobre to acquire a controlling interest in Kalahari Metals 1 Limited ▪ For personal use only Kalahari Metals Limited (KML) is the second largest tenement holder in the highly prospective Kalahari Copper Belt (KCB) in Botswana next to Sandfire Resources Ltd (Sandfire) ▪ Cobre Ltd (Cobre) has entered
Slide 4: Cobre & Metal Tiger: Unlocking Further Potential at KCB
Cobre & Metal Tiger: Unlocking Further Potential at KCB PROPOSED JOINT VENTURE For personal use only Metal Tiger previously held a 30% interest in MOD Resources, which discovered the T3 deposit in the KCB and was subsequently acquired by Sandfire Resources for A$167m 2018 2019 2020 Metal Tiger Metal
Slide 5: Kalahari Metals Overview
Kalahari Metals Overview For personal use only ▪ KML, together with its subsidiaries Kitlanya (Proprietary) Limited (Kitlanya) (100%) and Triprop Holdings (Proprietary) Limited (51%) hold exploration licenses totalling 8,100 km2 in proximity to, and along strike from, known deposits in the Kalahari
Slide 6: Kalahari Metals Overview 2020/21 Exploration Plan
Kalahari Metals Overview 2020/21 Exploration Plan EXPLORATION For personal use only ▪ KITW-03-FH KML is targeting sediment hosted copper–silver KITW-09-D KITW-08-D KITW-06-D KITW-07-D KITW-05-C KITW-04-C KITW-02-C OCP-02-C1 OCP-03-C2 OCP-04-C3 OCP-05-C4 OCP-06-C5 KITW-01-F KITE-01-F KITE-02-F KITE-0
Slide 7: Exploration: Kitlanya East
Exploration: Kitlanya East ▪ Recently completed 2020 exploration programme includes: For personal use only ₋ 1,709m stratigraphic and target drilling; ₋ 3,027 soil sample programme; ₋ Detailed airborne magnetic and electromagnetic (AEM) surveys ▪ Interpretation of results and planning of target dril
Slide 8: Exploration: Okavango and Kitlanya West
Exploration: Okavango and Kitlanya West O kavan go Ki t l anya We st For personal use only ▪ 2019 drilling proved the geophysics based targeting ▪ Target drilling of folded AEM concept, confirming mineralised contacts along ‘domes’ similar to T3 and A4 strike from known deposits ▪ Next will be regul
Slide 9: Fold hinge and structurally controlled mineralisation
Fold hinge and structurally controlled mineralisation Mineralisation Models ▪ Historically exploration has focused on redox contact For personal use only mineralisation on fold limbs; these are easier to find using magnetic, AEM and soil sampling but can end up being deep and not suited to lower cos
Slide 10: Why the Kalahari Copper Belt?
Why the Kalahari Copper Belt? Exploration Discoveries 1960 – 2020 ▪ For personal use only Sediment-hosted copper deposits account for 15% of world mine copper production Development ▪ Deposits are often giants - more than 1/3 of the Projects Include: known sediment-hosted copper deposits ▪ Sandfire’
Slide 11: Technical Team – Botswana
Technical Team – Botswana KM L’s st ro n g , lo cal ly ex p e ri e n c e d , te am wi l l co nt i nu e to ad van c e ex p l o rat i on For personal use only Adam Wooldridge Thomas Krebs David Catterall Brett van Coller BSc Hons Pr.Sci.Nat. MSc Pr.Sci.Nat MSc Pr. Sci. Nat. BSc Hons Pr.Sci.Nat. Direct
Slide 12: Cobre Deal Terms
Cobre Deal Terms ▪ For personal use only Cobre will purchase an initial 49.9% stake in KML, increasing to a 51% stake (subject to regulatory approvals), funded by the issue of circa 21.4 million Cobre shares, to be escrowed until 31st January 2022. Cobre Kalahari will be nominated be Cobre to own th
Slide 13: Use of funds and news flow
Use of funds and news flow For personal use only 2 0 2 0/ 21 d ri l l fo c u s e d ex p lo rat io n p ro gram m e Core ▪ Designed to advance Cu-Ag targets on each project while sampling and maintaining a pipeline of early stage feeder targets analytical… Soil sampling (grid) Access recce set-up trip
Slide 14: Cobre Capital Structure
Cobre Capital Structure For personal use only S h are P ric e To p Sh areh o ld ers (As of December 14th, 2020) 24 cps (As at 14 September 2020) Shares Held % Shares Outstanding 102,970,688 METAL TIGER PLC 19,350,000 18.792% HOLLAND INTERNATIONAL PTY LTD <HOLLAND FAMILY A/C> 11,024,384 10.706% Marke
Slide 15: Appendix
Ongoing drilling operations, Kitlanya East August 2020 For personal use only APPENDIX
Slide 16: Project Overview
Project Overview ▪ Four Project Areas: Okavango, For personal use only Kitlanya East, Kitlanya West, and Ngami (total 25 priority targets spread across the projects) ▪ Over the last three years KML has developed effective exploration models and methodologies, de- risked through concept testing drill
Slide 17: Understanding mineralisation styles key to identifying targets
Understanding mineralisation styles key to identifying targets For personal use only ▪ An exponential increase in discovery rates in the KCB can be linked to advances in geological understanding and geophysical technology ▪ KML has invested significantly in understanding the geology and styles of mi
Slide 18: Kitlanya East
Kitlanya East For personal use only Target t y p e : Doubly plunging anticline in hinge zones (‘Domes’) Focus area for current Hig h l i g hts drill programme and further soil sampling ▪ Several compelling target areas in proximity to and with similar setting to Sandfire’s T3 and A4 deposits ▪ AEM ‘
Slide 19: Kitlanya East target methodology
Kitlanya East target methodology ▪ Targeting Cu-Ag mineralisation hosted in and below A E M m o d e l l i n g re s u l t s w i t h For personal use only thrust and shear zones on anticlinal structures a n t i c l i n a l s t r u c t u re s h i g h l i g h te d analogous to neighbouring T3 and A4 dep
Slide 20: Okavango Copper Project
Okavango Copper Project Zeta contact For personal use only Target t y p e : Anticline limb Hig h l i g hts ▪ Project located directly along strike from Cupric Canyons Cu- Ag deposits1: ₋ Zone 5 (91mt@ 2.13% Cu & 22g/t Ag) ₋ Zone 5N (17mt@ 2.27% Cu & 43.4g/t Ag) ₋ Zone 6 (16.7mt@ 0.9% Cu & 4g/t Ag) ₋
Slide 21: Okavango exploration methodology
Okavango exploration methodology For personal use only ▪ Modelling of AEM data clearly defines marker units above the mineralised redox contact ▪ Allows for direct drilling along the mineralised contact to test for areas where mineralisation may be upgraded to economic AEM marker conductor grades Re
Slide 22: Ngami Copper Project
Ngami Copper Project For personal use only Target t y p e : Anticline limb, fold hinge Hig h l i g hts ▪ Drill testing confirms Cu-Ag mineralisation along redox contacts including1: ₋ 2m @ 1.8% Cu & 8.0g/t Ag ₋ 5.2m @ 0.67% Cu ₋ 5m @ 0.15% Cu Sandfire’s T14 target ▪ Combination of drill results and
Slide 23: Kitlanya West
Kitlanya West For personal use only Target t y p e : 2 km Traditional anticline limb/doubly plunging anticline in hinge zones High l i g hts ▪ Extensive license package situated on the KCB basin margin with evidence of shallow Kgwebe volcanics – both considered important vectors for deposits in the
Slide 24: AEM interpretation, soil results and target generation
AEM interpretation, soil results and target generation For personal use only Conductors classified by conductivity and setting with Kalahari isopachs from AEM interpretation. Results are overlain on a lithostructural interpretation based on Govt magnetic data ASX: CBE 24
Slide 25: References
References For personal use only SLIDES 3 1. Announcement to the ASX dated 24 August 2020 available at https://www.asx.com.au/asxpdf/20200824/pdf/44ltblw7zp5711.pdf 1. Hall, W.S., 2013. Geology and paragenesis of the Boseto copper deposits, Kalahari Copperbelt, northwest Botswana. Unpublished M.Sc.
Slide 26: For more information contact
For personal use only For more information contact: info@cobre.com.au www.cobre.com.au