Alpha Exploration Ltd. · TSXV:ALEX
Alpha Exploration — Investor Presentation (March 2021)
45 slides from Alpha Exploration's investor presentation, March 2021
Slide 1: Exciting New Gold-Copper Discoveries in Eritrea
Exciting New Gold-Copper Discoveries in Eritrea Alpha Exploration Limited Phase 2 Diamond drill programme at March 2021 (Version 4) 1 Anagulu Gold-Copper Prospect ALPHA-EXPLORATION.COM
Slide 2: Disclaimer Notice - Qualified Persons Statement - Confidentiality
Disclaimer Notice - Qualified Persons Statement - Confidentiality Disclaimer Notice This presentation of Alpha Exploration Limited (“AEL”) is for information only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell or issue, or subscri
Slide 3: Images of Eritrea
Images of Eritrea Catholic Cathedral Art Deco building Asmara Islamic Saint Francis Asmara City Asmara City City Mosque Asmara City Eritrea Eritrea Eritrea Asmara City Eritrea Eritrea Port Massawa - Eritrea Dhalak Hotel - Port Massawa - Eritrea Asmara to Massawa Railway - Eritrea Saint Marys Orthodo
Slide 4: Alpha Key Highlights
Alpha Key Highlights STATEMENT ● Alpha Exploration Ltd is an Exploration Company focused on the discovery of world class economic gold and base metals deposits in the highly prospective Arabian-Nubian shield. ● Highly prospective & underexplored Arabian-Nubian Shield, known for hosting orogenic go
Slide 5: Alpha Corporate Structure, Financing & Listing
Alpha Corporate Structure, Financing & Listing Capital Structure • Alpha Shares Issued & Outstanding 66,346,940 • Alpha Warrants Outstanding 2,795,611 • Management & Directors * 15.5% Alpha Financing January 2021 @ 90 cents Raised $5mm *Escrowed over 3-year period *Warrants expiry 31/12/2022 , Exerc
Slide 6: Alpha Exploration Board of Directors & Management
Alpha Exploration Board of Directors & Management Michael Hopley - President & CEO BSc (Geology), London University, Member of American Institute of Professional Geologists: • More than 40 years of international experience, has held Executive & Board positions with companies such as Gold Fields Mini
Slide 7: Arabian-Nubian Shield (ANS) with Tier 1 deposits
Arabian-Nubian Shield (ANS) with Tier 1 deposits Canadian & Australian Shields >100 years of Sukari Au Mine Bulghah Au Mine aggressive exploration, Ma’aden Saudi Centamin PLC Arabian Mining Co many mines discovered. The Arabian-Nubian Shield Larger than Mahd Ad’Dahab Orca Au Deposit Australian S
Slide 8: Advancing Prospects at Kerkasha through Exploration
Advancing Prospects at Kerkasha through Exploration Current status Programmes Geological map of Kerkasha (1:40,000 scale) with Anagulu (Au, Cu, Ag) (1, 2, 3, 4, 5, 6, 7, 8, 9) Colonial Mines, Artisanal Mines & Prospects Kosolda Artisanal Mine (Au) (1, 2, 3, 4, 5, 6, 7, 8, 9) Asheshi Colonial Mine
Slide 9: Anagulu – A New Gold-Copper Discovery by Alpha
Anagulu – A New Gold-Copper Discovery by Alpha Significant rock chip geochemistry for gold and copper (extending for ~2kms) supported by anomalous gold and copper in soil geochemistry over the same ~2kms strike. The copper mineralisation is open to the NE and the SW. Photo of Oxidised copper outcr
Slide 10: Anagulu – Rock Chip Samples - Gold
Anagulu – Rock Chip Samples - Gold Anagulu is a shear-hosted Gold- Copper-Silver system. Mineralisation is primarily hosted in a monzonite at the sheared contact (up to 200m wide) between mafic volcanic and felsic metasedimentary rocks. This mineralisation could be related to a Cu-Au porphyry sy
Slide 11: Anagulu – Rock Chip Samples – Copper
Anagulu – Rock Chip Samples – Copper Chargeability-Resistivity survey carried out after phase 1 drill programme: o Identified 3.5km & 2km long sub-parallel Chargeability anomalies with Resistivity anomalies at depth o 2km Chargeability anomaly coincident with current significant drill intercepts a
Slide 12: Anagulu – Phase 1 Drilling (to 15 November 2020)
Anagulu – Phase 1 Drilling (to 15 November 2020) 30 RC holes for 3,919m assays returned. 2 Diamond holes for 344m assays returned. Very significant Cu & Au intercepted in drilling. Monzonite identified as ‘prime host’ for Cu-Au-Ag due to ‘brittle fracture’ with diorite & felsic sediments als
Slide 13: Anagulu – Phase 1 Drilling - Assay Results (15 November 2020)
Anagulu – Phase 1 Drilling - Assay Results (15 November 2020) From Au Cu Ag Chalco Hole To (m) Pyrite % (m) (ppm) (%) (ppm) pyrite % 80 81 1.92 0.70% 2.62 4 0 81 82 2.91 1.23% 4.88 5 0 82 83 0.91 0.78% 3.99 4 2 83 84 1.68 0.79% 4.43 4 2 84 85 1.63 0.62% 3.20 6 2 85 86 4.29 0.99% 4.87 7 0 86 87 1.60
Slide 14: Anagulu – Chargeability Survey Interpretation
Anagulu – Chargeability Survey Interpretation The Au-Cu mineralisation at Anagulu is within disseminated sulphides (chalcopyrite) in a silica matrix. A Chargeability-Resistivity survey was carried out by TMC Geophysics (Canada) & interpreted by Southern Geoscience Consultants (Australia), to tes
Slide 15: NE Anagulu – Phase 1 (Shallow) & Phase 2 (Deep) Drilling
NE Anagulu –Phase 1 (Shallow) & Phase 2 (Deep) Drilling PHASE 1 Drilling (ALS Assay Results) AND001: 52m @ 2.33 g/t Au & 1.05% Cu & 6.53g/t Ag (80-132m) - Au Equivalent of 3.39g/t* - Discovery Hole January 2020. ANRO17: 93m @ 0.48 g/t Au & 0.27% Cu & 1.27g/t Ag (3-96m) AND029: 52m @ 0.72 g/t Au & 0.
Slide 16: Anagulu – Phase 1 & 2 Drilling & Geology
Anagulu – Phase 1 & 2 Drilling & Geology Section 36 (160m SW of section 40 that has AND001) current geological Section 38 (80m on strike to the NE of section 36) current geological interpretation with ANR024 & follow up hole AND009 – Preliminary XRF interpretation with ANR017 & follow up holes AND00
Slide 17: Anagulu – Phase 1 & 2 Drilling & Interpretation of Geology
Anagulu – Phase 1 & 2 Drilling & Interpretation of Geology Section 42 (80m on strike to the NE of section 40) current Section 40 (80m on strike to the NE of section 38) current geological interpretation geological interpretation with ANR020 & follow up hole with AND001 & follow up holes AND003, AND0
Slide 18: Kosolda Orogenic Gold Prospect – Artisanal Gold Workings
Kosolda Orogenic Gold Prospect – Artisanal Gold Workings Geology Areas of Artisanal pits Surficial cover Granite Kosolda Meta diorite North Metasediments, Slate, Phyllite Felsic tuff Mafics Fault Rock chips – In-situ Workings Kosolda Main, north end (~800m strike) Au (ppm) Quartz Vein 0.000 – 0.004
Slide 19: Kosolda Main Work
Kosolda Main Work Significant selective rock chip & blading rock chip results for Au (March 2018- May 2019): ● >100g/t Au 8.92g/t Au 4.04g/t Au ● 81.40g/t Au 7.31g/t Au 3.23g/t Au ● 39.80g/t Au 7.16g/t Au 2.69g/t Au ● 14.35g/t Au 6.08g/t Au 2.62g/t Au ● 11.85g/t Au 6.06g/t Au 2
Slide 20: Kosolda – Soil Sampling & 3D Chargeability-Resistivity Survey
Kosolda – Soil Sampling & 3D Chargeability-Resistivity Survey 100m x 100m soil sampling assay results for Au: Kosolda 3D Chargeability- ● Shows Kosolda West is most Resistivity survey area significant anomalous Area. ● Could this be the ‘in-situ’ source to (purple polygon) on geology extensive all
Slide 21: Aburna Au-Cu Prospect Work Programmes
Aburna Au-Cu Prospect Work Programmes Mapping at 1:5,000 scale has been completed for the Anagulu-Abbi-Aburna trend. 100m x 100m soil sampling in Oct-Nov 2020, Assays for soils in southern area already received, assays for soils in northern area will be returned in early March 2021. Soil sample
Slide 22: Kona Cu-Au-Zn-Pb Prospect - Work Programmes
Kona Cu-Au-Zn-Pb Prospect - Work Programmes Malachite rich gossan occurrences with very anomalous rock chips for Cu (over ~1.5kms) at Kona West. Best drill intercepts from RC drilling at Kona West: Anomalous Cu in 100m x 100m soil sampling over ● 2m @ 0.30% Cu (48 - 50m KNR006) 1,500m x 300m (op
Slide 23: Tolegimja Cu-Zn-Au Prospect Work Programmes
Tolegimja Cu-Zn-Au Prospect Work Programmes Gossan & exhalate outcrops in the NE linked with anomalous Cu-Zn in soils (over 2kms) to a malachite rich mafic-felsic contact in the SW. Geological mapping: 1:5,000 scale geological map completed (total area = 11.46km²). Infill soil sampling (100m x
Slide 24: Confirmed & New Prospects from CLR Analysis & Probabilistic models
Confirmed & New Prospects from CLR Analysis & Probabilistic models Kosolda Kona Northeast Tolegimja Asheshi New Prospect Kona Dekemhare Aburna Aburna Abbi New Prospect Anagulu 5km Preferred Max-Ent thematic map for Anagulu & Kona type Au & Cu Targets Map of CLR Au with values for the entire License
Slide 25: Next Steps in Exploration
Next Steps in Exploration ANAGULU: ● Drill test the coincident rock chip-soil-chargeability-Resistivity anomalies to depth beneath and along strike of best drill intercepts to date. ● If results from the current drilling are positive – move to develop a ‘Maiden Inferred Resource’ with additional d
Slide 26: APPENDICES
ALPHA APPENDICES 26
Slide 27: Alpha Exploration Timeline (January 2018 – December 2020)
Alpha Exploration Timeline (January 2018 – December 2020) Anagulu Regional (500m x Discovery RC drill hole Kerkasha RC Drilling Rock chip sampling Diamond Chargeability- Field 500m) soil sampling (ANR017) at Anagulu License Kona at main Prospects Drilling Kosolda Resistivity surveys at operations co
Slide 28: Anagulu 52m @ 2.33 g/t Au & 1.05% Cu (AuEq x m) in Africa Context
Anagulu 52m @ 2.33 g/t Au & 1.05% Cu (AuEq x m) in Africa Context Calculated in June 2020 Kasombo Kamoa-Kakula Tshukudu (Fe Ltd) Ivanhoe Prieska (Sandfire) O Boumadine (Orion) Makoko (Maya Gold) (Ivanhoe) Anagulu Kabolela (Alpha) (Bankers Cobalt) Kilembe (Jervois) Eureka (Xtract) Fold & Thrust (Nzur
Slide 29: Disclaimer & Compliance Warning - compilation from Opaxe Report
Disclaimer & Compliance Warning - slide 27 compilation from Opaxe Report 29
Slide 30: Anagulu – Litho-geochemical geology map
Anagulu – Litho-geochemical geology map The map below shows clustered in-situ portable XRF data (20m x 20m soils) after principal components analysis. A geological map was developed where lithologies were allocated based on cluster affiliation for units mapped by Structural Consultant (RSC). ANAGU
Slide 31: Anagulu – Chargeability with Cu in 20x20m soils & Drilling
Anagulu – Chargeability with Cu in 20x20m soils & Drilling 15 Drill Hole Collar 11 16 29 1 17 15 500m 31 20m x 20m soil anomalies (Cu) on Chargeability at 260m vertical depth (white polygons) with zone of best drill results (yellow ellipsoid)
Slide 32: Anagulu – Phase 1 Drilling - Assay Results (15 November 2020)
Anagulu – Phase 1 Drilling - Assay Results (15 November 2020) Hole From To Interval Au Cu Hole From To Interval Au Cu Hole From To Interval Au Cu ID (m) (m) (m) (ppm) (%) ID (m) (m) (m) (ppm) (%) ID (m) (m) (m) (ppm) (%) 16 17 1 0.25 0.07% ANR009 22 25 3 0.38 0.06% 20 23 3 0.92 0.11% ANR018 24 25 1
Slide 33: Anagulu – Chargeability Survey Interpretation
Anagulu – Chargeability Survey Interpretation The best zone of drilling does not reach the core of the chargeability anomalies at depth. Up to the 15 November 2020, the deepest holes only just over 100m true vertical depth. Only a small part of the Chargeability anomaly AT02 has been tested to
Slide 34: Anagulu – Phase 1 & 2 Drilling & Geological Model
Anagulu – Phase 1 & 2 Drilling & Geological Model 34 Possible Porphyry genesis model (yet to be confirmed) for Cu-Au mineralisation at Anagulu – final assays awaited
Slide 35: Regional Sampling & Analysis with Centre Log Ratio & Z Score
Regional Sampling & Analysis with Centre Log Ratio & Z Score The regional soil sampling of Kerkasha (3,458 samples to cover Kerkasha on a 500m x 500m spacing) has delivered a reliable 25 element geochemical dataset Tolefafa West from portable XRF analysis to complement the airborne geophysical and
Slide 36: Regional Sampling & ‘Machine Learning’
Regional Sampling & ‘Machine Learning’ Alpha has retained services of specialised Consultants to apply ‘Machine Learning’ algorithms to generate (1) new bedrock and surface composition maps, (2) Machine-assisted mapping of Kosolda & Asheshi type granitoids on the Kerkasha and surrounding areas and
Slide 37: Eritrea Mining Act & Alpha Agreement with ENAMCO
Eritrea Mining Act & Alpha Agreement with ENAMCO The Eritrean Mining Act is based on the West Australian Mining Act and has The agreement between Alpha Exploration been upheld in a fair and consistent manner by the Government, resulting in and the Eritrean National Mining Corporation more Mine devel
Slide 38: Contact Details
Contact Details ABOUT ALPHA EXPLORATION LIMITED Alpha Exploration Ltd is a privately registered Exploration Company out of the British Virgin Isles focused on the discovery of world class economic gold & base metals deposits in the highly prospective Arabian-Nubian shield, that runs on either side o
Slide 39: Alpha Occupational Health - Safety – Employment Policies
Alpha Occupational Health - Safety – Employment Policies Alpha Exploration Limited Environmental Policy • Alpha Exploration Ltd is committed to responsible environmental impact assessment and environmental management practice, through the application of international best practice and technology. Al
Slide 40: Statutory Rights of Action
Statutory Rights of Action Statutory Rights of Action Securities legislation in certain of the provinces of Canada provides purchasers with certain statutory rights of action for damages or rescission, in addition to any other rights they may have at law, where an offering memorandum or any amendmen
Slide 41: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) Directors or Signatories will not be liable: a) if they prove the offering memorandum was sent or delivered to the purchaser without their knowledge or consent and, on becoming aware of its delivery, promptly gave general reasonable notice that it was delivered
Slide 42: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) In addition, no person or company, other than the issuer, will be liable if the person or company proves that: a) the offering memorandum or any amendment to it was sent or delivered without the person’s or company’s knowledge or consent and that, on becoming a
Slide 43: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) Newfoundland and Labrador The right of action for damages or rescission described herein is conferred by Section 130.1 of the Securities Act (Newfoundland and Labrador) (the “Newfoundland Act”). The Newfoundland Act provides, in relevant part, that where an off
Slide 44: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) a) no action shall be commenced to enforce the right of action for rescission or damages by a purchaser resident in Nova Scotia later than 120 days after the date on which the initial payment was made for the securities; b) no person will be liable if it proves
Slide 45: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) d) in an action for damages, the defendant will not be liable for all or any portion of the damages that it proves do not represent the depreciation in value of the securities as a result of the misrepresentation relied upon; and e) in no case shall the amount
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