Westgold Resources Ltd · ASX:WGX
Westgold Resources — Diggers & Dealers 2008
24 slides from Westgold Resources's conference presentation, Aug 5, 2008
Slide 1: The Rover Project, NT: A New Mineral Field in the Making
THE ROVER PROJECT, NT A NEW MINERAL FIELD IN THE MAKING DIGGERS & DEALERS, Kalgoorlie WA 5 August 2008 Andy Beckwith Managing Director “Unlocking the Potential of Australia’s North”
Slide 2: Disclaimer
This presentation has been prepared by Westgold Resources Limited (“Westgold” or the “Company”). It should not be considered as an offer or invitation or inducement to subscribe for or the purchase of any securities in the Company. This presentation contains forecasts and forward looking statements.
Slide 3: Experienced Management
Westgold Resources Westgold Resources Limited Limited (ASX:WGR) (ASX:WGR) Capital Capital Directors Directors Shareholders Shareholders Investments Investments Shares 142.4M Chairman Top 5 Aragon Michael Atkins Metals X 28.9% Resources A Beckwith 6.2% (ASX:AAG) Options 4.65M MD A Martin 5.9% 41.7% S
Slide 4: Company Strategy
Company Strategy • To focus on highly prospective regions ¾ Rover Field ; Tennant Creek “look a like” under cover • To target multi‐commodity resources ¾ Rover 1 Cu‐Au‐Co‐Bi‐Ag‐(Fe) ¾ Explorer 108 Pb‐Zn‐Ag y To deliver high value mines ¾ “Grade is King” ¾ Cash generators ¾ Company Makers Organic Gro
Slide 5: Why the Rover Project?
Why the Rover Project? High Rover Field ‐ Tennant Creek “look a like” Grade – Identical rocks, same age and mineralisation styles Tennant Creek Mines – Magnetite‐hematite IOCG systems Au Producers – Under cover and therefore under explored Warrego - 1.6Moz at 7g/t Tennant Creek Mineral Field (TCMF)
Slide 6: Strategic Landholding
Tennant Creek Mineral Field Rover Field (undercover) Strategic Landholding
Slide 7: Rover 1: New exciting high grade gold discovery
ROVER 1 New exciting high grade gold discovery Cu-Au-Co-Bi-Ag IOCG System Drilling around the clock
Slide 8: Rover Field
Rover Field Magnetic Image draped Explorer 108 on Gravity Amplitude Explorer 142 Looking NW Rover 1 UP NORTH North 10km EAST
Slide 9: Rover 1 Project
Rover 1 Project Magnetic Magnetic Anomaly and Model Anomaly Intense Magnetic Anomaly Coincident gravity anomaly unconformi Magnetic Target Model ty 130m Cover Steep south dipping body 100m thick 750m long ~750m long >800m depth Magnetic 100m thick Target Model Cover Sequence UP 130m depth NORTH EAST
Slide 10: Rover 1 Project
Rover 1 Project Magnetic Magnetic Anomaly and Model Anomaly With Westgold Drilling Drilling to date (~5000m, ongoing) 9 diamond holes completed Assays received ‐ first 5 unconformi Assays pending ‐ next 4 ty Drilling to end of year Westgold Drilling Poly‐Metallic IOCG System Limited Tennant Creek St
Slide 11: Rover 1 Project: Section 359500mE Gold
topography Rover 1 Project Section 359500mE ‐ Gold 200m RL unconformity Drill hole WGR1D002 100m RL 65.75m @ 17.7g/t AuEqv 65.75*m @ 11.0g/t Au, 0.75% Cu, 0.09% Co, Magnetic 0.15% Bi and 2.5g/t Ag Model 0m RL incl 11m @ 18.3g/t Au GOLD incl 16.75m @ 29.4g/t Au -100m RL Drill hole WGR1D002-01 OPEN 49
Slide 12: Rover 1 Project: Section 359500mE Copper
topography Rover 1 Project Section 359500mE ‐ Copper 200m RL unconformity Drill hole WGR1D002 100m RL 11m @ 0.95% Cu 26m @ 0.32% Cu 0m RL 45m @ 0.99% Cu COPPER Broader Cu zone incl 17m @ 1.93% Cu throughout ironstone 14.75m @ 0.65% Cu -100m RL Brittle fracture infill, veins incl 2m @ 2.13% Cu -200m
Slide 13: Rover 1 Project: Section 359520mE Gold
topography Rover 1 Project Section 359520mE ‐ Gold 200m RL unconformity Drill hole WGR1D002-05 100m RL 28m @ 16.2 g/t Au Eqv Magnetic 28m @ 11.7g/t Au, 0.62% Cu, 0.06% Co, Model 0m RL 0.06% Bi, 2.3ppm Ag GOLD incl 4m @ 75.7 g/t Au -100m RL 12m 12m @ 3.6 g/t Au Eqv 28m / 16.2g/t 12m @ 2.3g/t Au, 0.22
Slide 14: Rover 1 Project: Section 359520mE Copper
topography Rover 1 Project Section 359520mE ‐ Copper 200m RL unconformity Drill hole WGR1D002-5 100m RL 37m @ 0.31% Cu 14m @ 0.36% Cu Magnetic Model 0m RL 38m @ 1.13% Cu COPPER incl 10m @ 2.5% Cu -100m RL 17m @ 0.79% Cu incl 4m @ 1.92% Cu -200m RL -300m RL -400m RL WGR1D002-5 -500m RL -600m RL NORTH
Slide 15: Rover 1 Project: Section 359540mE
topography Rover 1 Project Section 359540mE 200m RL unconformity ‐ WGR1D003, 003‐1, 004 and 005 100m RL 4 holes completed Interpreted post 0m RL Post mineralisation fault All mineralisation Strong sulphidic ironstone in Assays displacing fault Pending -100m RL WGR1D003, 3‐1 and 5 -200m RL WGR1D004 S
Slide 16: Rover 1 Project: 2008 Drilling Gold Longitudinal Section
topography Rover 1 Project Westgold 2008 drilling ‐ Gold unconformity Oblique Longitudinal Section looking NNW Magnetic Mod el Plunging shoot associated with parasitic fold Next Target Section Plunging shoot Currently Drilling Footwall Au target GOLD Assays Pending, visual Au, UP 15m stringer zone 1
Slide 17: Rover 1 Project: 2008 Drilling Copper Longitudinal Section
topography Rover 1 Project Westgold 2008 drilling unconformity Oblique Longitudinal Section Extensive Cu, Co, Bi, Ag Magnetic Mod Copper Mineralisation el outside Au zone Plunging shoot Footwall Au target COPPER Assays Pending, UP Visual copper 100m NORTH mineralisation EAST Drilling continues
Slide 18: Explorer 108 Pb-Zn-Ag Resource
EXPLORER 108 Pb-Zn-Ag Resource New style of mineralisation Large system High grade contact zone Open Large scale
Slide 19: Rover Field
Rover Field Magnetic Image draped on Gravity Amplitude Explorer 142 Explorer 108 Looking NW Pb- Pb-Zn- Zn-Ag 9Mt Resource High grade contact zone Open most directions Rover 1 UP NORTH North 10km EAST
Slide 20: Total Inferred Resource Estimate; Higher Grade Core
Total Inferred Resource Estimate 8.7Mt @ 5.7% (Zn+Pb), 20g/t Ag Estimated at 2.5% Pb+Zn lower cut-off Contained metal Zinc 320,000 tonnes Lead 171,000 tonnes Silver 5.6 Moz Higher Grade Core 4.0Mt @ 8.2% (Zn+Pb), 25g/t Ag Estimated at 5.0% Pb+Zn lower cut-off Contained metal Zinc 213,600 tonnes Lead
Slide 21: Explorer 108 Domains
Explorer 108 ‐ Domains Basal High Grade Domain Robust higher grade 3.07Mt @ 8.3% Pb+Zn (2.5% cutoff) Precollars only, 2.82Mt @ 8.6% Pb+Zn (5.0% cutoff) mineralisation remains open High Grade Domains Dolomite Zone 6 0.46Mt @ 6.8% Pb+Zn (2.5% cutoff) 0.29Mt @ 8.8% Pb+Zn (5.0% cutoff) Paris Shear High
Slide 22: Rover Field
Explorer 142 Magnetite Ironstone Rover Field 1000m magnetic target 6 historical holes Magnetic Image draped Explorer 108 3 Westgold holes on Gravity Amplitude Best result to date 20m @ 3% Cu Rover 1 UP NORTH North 10km EAST
Slide 23: Rover's impact
0.6 Rover 1 Initial •Acquisition Aragon Bonanza Option Completed float intercepts 0.5 deal •MLX major shareholder Rights •Management Issue restructure $5.1M 0.4 0.3 0.2 Ex108 Resource 0.1 Explorer 108 Drilling Phase Rover 1 0 Oct-05 Oct-06 Oct-07 Aug-05 Feb-06 Apr-06 Jun-06 Aug-06 Feb-07 Apr-07 Jun-
Slide 24: The Rover Project, NT: A New Mineral Field in the Making
THE ROVER PROJECT, NT A NEW MINERAL FIELD IN THE MAKING ROVER PROJECT Rover 1 – One of Australia’s best high-grade poly-metallic discoveries of recent times 65m @ 11.0g/t Au, 0.75% Cu (17.7g/tAu Eqv) 66m @ 4.3g/t Au, 0.56% Cu (10.7g/t Au Eqv) 49m @ 5.8g/t Au, 1.05% Cu (16.6g/t Au Eqv) 28m @ 11.7g/t