Marmota Limited · ASX:MEU
Marmota — SA Resource & Energy Investment Conference (SAREIC) April 2019
21 slides from Marmota's conference presentation, Apr 9, 2019
Slide 1: Aurora Tank Gold – Gawler Craton
Aurora Tank For personal use only Gawler Craton Aurora Tank Gold Kevin Wills Director of Exploration SAREIC Conference April 2019 ASX: MEU
Slide 2: Outline
Outline ASX: MEU Corporate Snapshot For personal use only Tenements Aurora Tank gold discovery Geology Gold Mineralisation Metallurgy Block Model Biogeochemical Exploration What’s Next 2
Slide 3: Corporate Snapshot
Corporate Snapshot ASX: MEU Corporate Snapshot Capital Structure ASX: MEU Largest Shareholders Shares on issue 653 m For personal use only Dr Colin Rose Options 0 Unlisted options 31 m Southern Cross Capital Market Cap (at 1.7 cents per share) ~ $11 m J Rose Zero Debt Cosell Pty Ltd Yandal Investmen
Slide 4: Gawler Craton Tenement Location
Gawler Craton Tenement Location ASX: MEU 16 ELs For personal use only Total Area: 6109 km2 Centred on Challenger Prospective for gold deposits in: Archaean Mulgathing Complex targets, and Mesoproterozoic Hiltaba-Gawler Range Volcanics targets 4
Slide 5: How Aurora Tank was Discovered
How Aurora Tank was Discovered ASX: MEU Recon calcrete For personal use only sampling (late 1990s) produced gold-in-calcrete anomalies Previous drilling by Minotaur (1999) & Apollo (2014) Marmota’s 1st pass recon air core program in September 2016 (blue dots) 5
Slide 6: Drillhole Locations and Phases
Drillhole Locations and Phases ASX: MEU Goshawk Drillhole Locations and Phases ASX: MEU Evolution of drilling For personal use only 2016 Air core Recon drilling at Section 26 80m x 40m and 40m x 20m spacing 2017 Air core (20m x 20m) and 6 Diamond drillholes for geology and metallurgy 2018 Exte
Slide 7: Aurora Tank: Gold Intersection Highlights
Aurora Tank: Gold Intersection Highlights ASX: MEU • Over 500m length For personal use only • Close to surface: high grade intercepts between 10m and 50m from surface • Currently 3 discrete mineralised zones: South, Central, North • Multiple sections open • Known mineralisation generally underlies c
Slide 8: Geology of Mineralised Zones
Geology of Mineralised Zones ASX: MEU Section 26 For personal use only 8
Slide 9: Host Rock Geology
Host Rock Geology ASX: MEU • Host rocks: Archaean For personal use only Mulgathing Complex Quartz-feldspar-biotite gneiss • Upper Amphibolite (high) metamorphic grade • Mineralisation associated with quartz veining, Weathered gneiss (ATDD003) pegmatites and sometimes tourmaline • Hard to visually sp
Slide 10: Core Photos of Mineralised Zones
Core Photos of Mineralised Zones For personal use only ASX: MEU Hole 17ATDD003 Hole 17ATDD001 Hole 17ATDD001 Tourmaline-rich quartz-feldspar rock Dense tourmaline crystals Pyrite-rich fracture in quartz- from vein margin on the margin of a quartz tourmaline vein 10
Slide 11: Gold Mineralisation
Gold Mineralisation ASX: MEU Diamond Hole 17ATDD002 For personal use only 46m Downhole Micro “nuggety” gold, partly in clays, adjacent to minor subhedral crystals of As-Sb sulphide, collectively incorporated in massive vein quartz (black in reflected light)
Slide 12: SEM of Gold Nuggets
SEM of Gold Nuggets For personal use only ASX: MEU Scanning Electron Micrograph (SEM) images of: • Gold particles show ‘spongy’ porous gold • Gold particles fine grained in 5-50 micron range • Porous Gold leads to fast leach kinetics Qemscan image showing size and shape of gold grains 12
Slide 13: Gold Recoveries: Grind Size
Gold Recoveries: Grind Size For personal use only ASX: MEU • Overall gravity and leaching recoveries from 93% to 96% • Variable grind size tests gave 89 to 92% recoveries • Very fast leach kinetics • Recovery predominately complete in 6 hours Gold recoveries versus time (at 3 different grind sizes)
Slide 14: Gold Recoveries: Intermittent Bottle Roll
Gold Recoveries: Intermittent Bottle Roll ASX: MEU Intermittent bottle For personal use only rolls on 12.5 and 25mm coarse crushed samples gave 92% and 89% recoveries respectively. Indicates that low-capex heap leaching may be viable treatment option. Gold recoveries vs time from non-aggressive leac
Slide 15: Aurora Tank: Block Model
Aurora Tank: Block Model For personal use only ASX: MEU • 3D Block model perspective view showing geometry of mineralisation • High grade (Pink), medium grade (Red) and low grade (green) blocks shown • Good mineralisation continuity within domains • Open in Multiple directions 15
Slide 16: Biogeochemical Exploration
Biogeochemical Exploration ASX: MEU Sampling of plant tissue for For personal use only chemical assay Advantages • Low impact 2 people by foot or quad bikes • Rapid sampling 60 - 90 samples per day • Cost competitive with soil or calcrete analysis • Depth penetration of roots Arid zone, drought tole
Slide 17: Biogeochemical (Tree) Sampling
Biogeochemical (Tree) Sampling ASX: MEU • 776 samples collected For personal use only • 2 species sampled • Acacia aneura (496) • Senna (280) • Average 75 samples per day • Sampling method optimised to avoid contamination • Samples dried, prepped and assayed by LabWest 17
Slide 18: Biogeochemical (Tree) Sampling
Biogeochemical (Tree) Sampling ASX: MEU Biogeochem has yielded new gold For personal use only anomalous targets that are not apparent from previous calcrete sampling Drill testing of biogeochem gold anomaly intercepted Marmota’s highest 4m composite grade to date (4m @ 72 g/t) 18
Slide 19: Biogeochem yields New Gold Targets
Biogeochem yields New Gold Targets ASX: MEU New targets For personal use only New exploration targets within 500m of known mineralisation Aurora Tank Gold Discovery Gold biogeochem contours* + drill results with max Au Note: White zones denote highest biogeochem gold anomalies * Statistically levell
Slide 20: What's Next: Very active year ahead
What’s Next: Very active year ahead For personal use only ASX: MEU Largest drill program now being planned • Extensional drilling guided by new biogeochem results • Recon drilling to test new biogeochem gold targets Scoping study, including heap leach vs milling options Select optimal pathway
Slide 21: Disclaimer
Disclaimer Disclaimer This presentation has been prepared by Marmota Limited (“MEU”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain For personal use only information in this document has been derived from third parties and though ME
Marmota — SA Resource & Energy Investment Conference (SAREIC) April 2019 on 6ix