Iondrive Limited · ASX:ION
Iondrive — Southern Gold — Shareholder Meeting (October 2022)
20 slides from Iondrive's shareholder meeting presentation, Oct 27, 2022
Slide 1: South Korea – Annual General Meeting
SOUTHERNGOLD South Korea SOUTHERNGOLD October 27 2022 Annual General Meeting ASX Ticker: SAU
Slide 2: Disclaimer
SOUTHERNGOLD Disclaimer Forward-looking statements The information in this presentation is published to inform you about Southern Gold Limited (“Southern Gold”) and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. These may inc
Slide 3: Strategy and Overview
SOUTHERNGOLD Strategy and Overview ❑ 100% Exploration focus on South Korea ❑ Under-explored by modern exploration: frontier destination ❑ First-mover advantage ❑ Stable modern jurisdiction ❑ Highly experienced team ❑ Well established in-country ❑ Primary exploration focus on epithermal Au-Ag: target
Slide 4: South Korea: Geologic Context
SOUTHERNGOLD South Korea: Geologic Context • NE Asia: an emerging world-class metallogenic province with extensive and diverse mineral deposits. • Major precious metal mineralising event occurred in the Cretaceous Period 145-70 million years ago. • South Korea part of this Cretaceous - age mineralis
Slide 5: Company Origins
SOUTHERNGOLD Company Origins Epithermal vein discovery 1988 First recognition of epithermal mineralisation in South Korea: 15m wide Lighthouse Vein Cut slab of Lighthouse Colloform banded quartz – rhodochrosite – base metal southern coast of Gasado Island. Vein, colloform banded sulphide vein, Tongy
Slide 6: Key Achievements Last Months
SOUTHERNGOLD Key Achievements Last 12 months ❑ Enhanced technical capability through recruiting & focus on skills development for Korean team. New CEO based in-country since October 2021. ❑ Major exploration initiative to expand exploration portfolio. Put exploration on-hold on existing projects. ❑
Slide 7: People: Field-Focussed Technical Team
SOUTHERNGOLD People: Field-Focussed Technical Team Scott Randall Nick Tate Chief Geologist Consultant Geologist Geologist with Highly experienced field extensive international geologist and world- experience, class mapper NE Asia; Anglo Owner Geomap American, Eldorado www.geologyupskill.com Gold - t
Slide 8: Project Generation: Investment in the Future
SOUTHERNGOLD Project Generation: Investment in the Future • Major data compilation over winter ‘2021-22 • Cretaceous-age Basins • Over 300 ranked targets generated • Wide range of data • Regional govt datasets • Previous exploration - Ivanhoe reports • Open file data and reports, peer-reviewed journ
Slide 9: Access to Targets: World Class Infrastructure
SOUTHERNGOLD Access to Targets: World Class Infrastructure 9
Slide 10: Gasado UG Mine Visit December 2021
SOUTHERNGOLD Gasado UG Mine Visit December 2021 Epithermal vein discovery 1988 10
Slide 11: Projects: NEW Goseong Cu-Au-Ag Project
SOUTHERNGOLD Projects: NEW Goseong Cu-Au-Ag Project • 25 licence applications within historic copper mining district and surrounds – shown in blue. • Large mineralised system - clusters of vein systems and breccias over 800m long NS to NNW trend. • Limited modern-day exploration – limited gold assay
Slide 12: Projects: NEW Geoje Island Angsan Project
SOUTHERNGOLD Projects: NEW Geoje Island Angsan Project • Surrounding historic Geoje Cu-Au mine. • Polymetallic stockwork-breccia epithermal gold- copper silver deposit. • High gold grades within licence application area adjacent to mine – potential for along-strike extensions under cover. • Evidence
Slide 13: Projects: NEW Gasado North Project
SOUTHERNGOLD Projects: NEW Gasado North Project • Two licence applications 2km north of operating Sun Cement Gasado epithermal gold-silver mine • Several vein systems identified across the island by Ivanhoe geologists in 1990s - most undrilled • Northern area returned rock chip sample 14.3 g/t Au 74
Slide 14: Projects: NEW Sangju Project
SOUTHERNGOLD Projects: NEW Sangju Project • Historical goldfield with numerous abandoned mines and prospects • Historical production 1927-1943 185,000 oz • Gold hosted in NE-striking quartz lodes within granite-gneiss – mesothermal style • Vein lengths up to 1500m, 0.75m wide • Workings on multiple
Slide 15: Projects: Deokon
SOUTHERNGOLD Projects: Deokon • Surface high-grade gold and silver samples up to 78 g/t Au and 13,000 g/t Ag. • 13 diamond drill holes by SAU pre-covid 1795m, yet to intercept significant mineralisation. • Potential to discover main controlling structure. • Geophysics gravity survey planned for Nov-
Slide 16: Projects: Dokcheon
SOUTHERNGOLD Projects: Dokcheon • Epithermal gold -silver project that lies along NNW structures that host several historical gold-silver mines. • Historical clay-alunite mine part of a large epithermal system – system has scale. • Three quartz vein zones identified – true widths exceed one metre. •
Slide 17: New: Critical Minerals Program – Lithium, REEs
SOUTHERNGOLD New: Critical Minerals Program – Lithium, REEs • South Korea has historic deposits and Li and REE – but little to no modern exploration. • SAU commissioned a Li and REE desk-top study of South Korea by consulting Group RSC. • Utilized government regional datasets, company reports, peer-
Slide 18: Capital Structure
SOUTHERNGOLD Capital Structure Ordinary Shares 213.3m Share Price (19 October 2022) AUD$0.032 Strong balance sheet, Market Capitalisation AUD$6.8m including BMV Shares 30/06/22 Cash & sale of 50m BMV shares ~AUD$5.0m Enterprise value (EV) AUD ~AUD$1.8m 150m Remaining Shares in BMV (LSE Listed)# ~AUD
Slide 19: Plan Going Forward
SOUTHERNGOLD Plan Going Forward ❑ Geophysical surveys Goseong, Deokon Nov-Dec ❑ Planning for Li and REE field program ❑ Drill preparation for Goseong Jan ❑ Scout Drilling Goseong* Feb-March ❑ Geophysical Survey Dokcheon ❑ Regional Fieldwork starts for Li and REE Program ❑ Deokon drilling* April ❑ Do
Slide 20: Thank You
SOUTHERNGOLD THANKYOU 감사합니다 Robert Smillie Physical Address: 10 George Street Managing Director Stepney, South Australia Office: +61 8 8368 8888 5069 rsmillie@southerngold.com.au Australia info@southerngold.com.au Postal Address: Web Address: PO Box 255 www.southerngold.com.au Kent Town SA 5071 20