Slide 1: Company Presentation
For personal use only Company Presenta.on ASX : CZN 1 October 2015 ASX: CZN | PAGE 1
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS For personal use only § This presenta,on has been prepared by Corazon Mining Limited (“Corazon”). It contains forecasts and forward looking statements which are not a guarantee of future performance and which involve certain risks. Actual results and future outcomes will
Slide 3: Competent Person Statement
COMPETENT PERSON STATEMENT The informa,on in this report that relates to Explora,on Results and Mineral Resources for the A Plug deposits at the Lynn Lake For personal use only project is based on informa,on compiled by Mr Neal Leggo who is a Member of the Australian Ins,tute of Geoscien,sts. Mr Leg
Slide 4: Lynn Lake Ni-Cu-Co Sulphide Project
LYNN LAKE Ni-‐Cu-‐Co SULPHIDE PROJECT For personal use only Lynn Lake Township A Plug – Main Mine Area Victory Nickel Project Mined 18.4Mt @ 0.86 %Ni & 0.44 %Cu Area r Line Dunlop Agreement EL Plug – Highest Grade Mine Project Area Hydro Powe Mined 1.7Mt @ 2.50 %Ni & 1.15 %Cu Line Rail CORAZON HAS
Slide 5: Lynn Lake Project Milestones
LYNN LAKE PROJECT MILESTONES § Mar 2010 - Option over exploration ground and the EL Mine (Dunlop For personal use only Project) § Aug 2012 - New agreement on Dunlop Project – Option extended to 2015 § April 2015 - Completed acquisition of Victory Nickel Project (main mine area) Ø Dr Larry Hulber
Slide 6: Corporate Overview
CORPORATE OVERVIEW | ASX:CZN For personal use only Structure Company Focus Market Cap. @ 0.5 cps A$ 2.2M Lynn Lake development opportunity Shares on Issue # 441.6M Unlisted Op,ons on Issue # 30M • 83,000t contained nickel • 37,800t contained copper Cash (as at 30/6/15) A$ 1.8M 52 week share trading
Slide 7: Why Nickel?
WHY NICKEL? § Nickel supply/demand fundamentals are strong – forecast to go from For personal use only one of the worst performing metals to one of the best performing metals Ø Demand out-stripping supply = deficit is coming Ø Chinese de-stocking to LME completed Ø Chinese NPI stockpiles and pro
Slide 8: Why Nickel?
WHY NICKEL? § Nickel supply/demand fundamentals are strong – forecast to go from For personal use only one of the worst performing metals to one of the best performing metals § Key Risks Ø Chinese NPI production performs better than expected Ø Chinese stainless steel production is cut back despi
Slide 9: Canadian Nickel Sulphide Focus
CANADIAN NICKEL SULPHIDE FOCUS Lynn Lake Mining Centre For personal use only § Within a mining friendly Canadian Province of Manitoba § Mine closure in 1976 - extensive infrastructure remains § Large remnant resources and exciting exploration potential § Possible ‘fast-track’ for any new mining
Slide 10: Logistical Advantages of Lynn Lake
LOGISTICAL ADVANTAGES OF LYNN LAKE hompson Road To T For personal use only Airstrip EXCELLENT Mine Tailings INFRASTRUCTURE Lynn Lake Township All year access to mine area Township, shops, hospital Abundant hydro- electricity and water n Sta\o Sealed airstrip r o Powe Road and rail access to smelters
Slide 11: Past Mine Production
PAST MINE PRODUCTION For personal use only Mined 18.4Mt @ 0.86 %Ni & 0.44 %Cu MAJOR NICKEL COPPER A Plug Mine SULPHIDE CAMP Multiple gabbro, norite Mined 1.7Mt @ 2.50 %Ni & 1.15 %Cu & peridotite plugs within Precambrian meta- volcanics and EL Plug Mine sediments 24 years of production – 1953 to 1976
Slide 12: Past Mine Production & Resources
PAST MINE PRODUCTION & RESOURCES For personal use only Mined 18.4Mt @ 0.86 %Ni & 0.44 %Cu Resource 6.7Mt @ 0.84 %Ni & 0.39 %Cu A Plug Mine Resource 2.7Mt @ 0.99 %Ni & 0.43 %Cu Mined 1.7Mt @ 2.50 %Ni & 1.15 %Cu EL Plug Mine 150 Plug Prospect Fraser Lake Complex Prospect ASX: CZN | PAGE 12
Slide 13: JORC Resource – A Focus on Grade
JORC RESOURCE – A FOCUS ON GRADE Lower Cut-off Grade Contained Metal For personal use only Grade Deposit Tonnes NIEQ % Ni % Ni % Cu % Ni Tonnes Cu Tonnes Indicated Resource Category EL Upper 0.4 1,120,000 0.77 0.34 8,600 3,800 EL Lower 0.6 676,000 0.83 0.40 5,600 2,700 N 0.8 2,990,000 0.86 0.41 25,7
Slide 14: NI 43-101 Resource
NI 43-‐101 RESOURCE For personal use only Summary -‐ A Plug NI 43-‐101 Resource1 N, O & G Deposits, Lynn Lake, February 2010 Grade Contained Metal Deposit COG Ni% Eq2 Tonnes3 Tons Ni% Cu% Ni% Eq2 Tonnes Ni Tonnes Cu Measured, Indicated & Inferred Resource Categories N, O, G 0.4 28,098,866 30,973,
Slide 15: Current Mining Studies
CURRENT MINING STUDIES POSITIONING LYNN LAKE FOR DEVELOPMENT For personal use only IN A BETTER MARKET § Studies being conducted at long-term metal price forecasts § Indicative mine planning & scheduling indicates a 1.1 Mtpa operation Metal Prices Used In Studies is possible from current resources.
Slide 16: Mine Geology – Lynn Lake
MINE GEOLOGY – LYNN LAKE LARGE MINERALISED SYSTEM For personal use only N § Multiple orebodies, structurally complex system A Plug A ShaT § Large remnant resources and drill defined mineralisation § Approximately 4,000 drill holes yet to be added to the current digital drill hole database (predom
Slide 17: Recent Discoveries – Lynn Lake
RECENT DISCOVERIES – LYNN LAKE MODERN EXPLORATION METHODS For personal use only N DELIVER RESULTS A Plug A ShaT 2008 § Disco (Maxwell) - Western Areas NL (ASX: WSA) 18m @ 1.5% Ni, 0.70% Cu & 0.040% Co from 96m Farley ShaT 2010 § Tango – Prophecy Resources Corp (TSXV: PCY) & Plan of Intrusion Indep
Slide 18: The EL Deposit - Depth Potential
THE EL DEPOSIT -‐ DEPTH POTENTIAL For personal use only -700 mbs Discovery Hole XND001W1 23.75 m @ 3.34% Ni & 1.54% Cu Deepest Result CRZ012 -800 mbs 44.75m @ 1.55%Ni & 0.65%Cu Including:- 3.85m @ 2.83%Ni & 0.24%Cu 11.03m @ 2.31%Ni & 1.01%Cu 11.51m @ 2.37%Ni & 0.78%Cu Drill hole Cross-Section Looki
Slide 19: Large Mineralised System
LARGE MINERALISED SYSTEM For personal use only North EL Mine Aerial Photo Mine Area Plan View EL Mine A Plug Deposits M Deposit Mined 1.7Mt @ Details Unknown 2.5% Ni, 1.15% Cu 2000 foot level CZN High-Grade Discovery 2011 N, O Deposits & Resources Drill Hole Traces - Mine Area Cross-Section View (we
Slide 20: A New Look at a Prospective Area
A NEW LOOK AT A PROSPECTIVE AREA TARGET GENERATION Milligan Geology -‐ 1957 For personal use only § Corazon collating exploration and mining data from 1950’s to current day – ore system models and technology has changed over time A Plug § Difficult terrain, targets are predominantly under cover E
Slide 21: Identifying Prospective Intrusions
IDENTIFYING PROSPECTIVE INTRUSIONS ε Nd (T) 1873 Sample # Loca.on Lithology / mineral Ma LYNN LAKE IS UNIQUE IN THE GREENSTONE BELT For personal use only GP-‐7 Wood Lake-‐Sask. Feldspathic pyroxenite GP-‐7 Wood Lake-‐Sask. PL 3.403 4.371 Pris\ne Depleted ε NEODYMIUM ISOTOPIC RESULTS GP-‐7 Wood
Slide 22: Geological Model & Prospectivity
GEOLOGICAL MODEL & PROSPECTIVITY For personal use only Poor Prospec\vity ε Neodymium Isotopic Summary Unmineralized: Good Prospec\vity Cartwright Lake = 3.7 Tow Lake = 4.1 Carr lake = 2.5 Black Trout Lake = 3.1 Mineralized: EL Mine = 1.3 to 1.8 (mineralized interval) EL Mine = 2.5 to 3.0 (unminerali
Slide 23: Fraser Lake Complex (FLC)
FRASER LAKE COMPLEX (FLC) Past exploration focused on IS THIS ANOTHER LYNN LAKE? For personal use only western margin of FLC § Easy access compared to Sister Plug to the A Plug - has all the right eastern Muskeg area characteristics to host nickel sulphide § Large barren sulphide deposits (pyrrhot
Slide 24: Fraser Lake Complex (FLC)
FRASER LAKE COMPLEX (FLC) New FLC targets being For personal use only THE DIGITAL CAPTURE OF 1960’S & 1970’S generated GEOPHYSICAL DATA PROVIDES § Reprocessing of geophysical data identify the central and A HUGE WINDFALL FOR CORAZON eastern parts of the FLC as prospective – not the previously targe
Slide 25: Fraser Lake Complex (FLC)
FRASER LAKE COMPLEX (FLC) New FLC targets being For personal use only CORAZON IS COLLATING A HUGE generated DATABASE OF MODERN GEOPHYSICS § Reprocessing of geophysical FOR THE REGION data identify the central and eastern parts of the FLC as prospective – not the previously targeted western Detailed
Slide 26: Summary of Lynn Lake Opportunity
SUMMARY OF LYNN LAKE OPPORTUNITY For personal use only § Corazon has consolidated one of Canada’s most prolific historic nickel producing regions § Large resource base – a great foundation for development Ø Historic and recent drilling has identified resource upside potential Ø Recent discoverie
Slide 27: Current Activities
CURRENT ACTIVITIES § Mining and Processing Studies For personal use only § Looking to optimise up-front grade and identify cheap early ore § Looking to reduce operational and development costs § Exploration § Collating and processing more than $1.5M worth of geophysics § Adding to drilling dat
Slide 28: Thank You
For personal use only THANKYOU Brel Smith Managing Director Corazon Mining Limited P: +61 (8) 6142 6366 James Moses Media and Investor Rela,ons P: +61 (0) 420 991 574 E: james@mandatecorporate.com.au Corazon Mining Limited T: +61 (8) 6142 6366 A: Level 1, 350 Hay Street, Subiaco WA 6008 | P: PO Box