Slide 1: ASX cover letter for investor presentation
For personal use only 22 February 2011 ASX Limited Level 2 Exchange Plaza 2 The Esplanade Perth WA 6000 Dear Sir/Madam INVESTOR PRESENTATION Please find attached an investor presentation that the company will be presenting at the RIU Explorers Conference in Fremantle WA on 22 February 2011. Yours fa
Slide 2: RIU Explorers Conference Investor Presentation
RIU Explorers Conference For personal use only Investor Presentation February 2011
Slide 3: Disclaimer
Disclaimer For personal use only This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment de
Slide 4: Company Overview
Company Overview For personal use only Horseshoe Metals (ASX: HOR) • listed on the ASX on 29 July 10 • successful IPO raised $7million Horseshoe Metals: • a copper and gold focused company • 100% ownership of the Horseshoe Lights and Kumarina projects • tenements covering ~300 km2 in the resource ri
Slide 5: Corporate Summary
Corporate Summary For personal use only Capital Structure • Shares 56.1 M • Options 30.0 M • Market Cap $31.4 M (undiluted @ 56 cents per share) • Cash (as at 21 Feb 2011) $3.3 M Substantial Shareholders • Azure Capital Limited 7.9% Management • Neil Marston (Managing Director) • Jeremy Shervington
Slide 6: Projects Overview
Projects Overview For personal use only Horseshoe Lights • located in the Bryah Basin • partly within the Narracoota Volcanics • 75km WNW of Doolgunna Cu/Au discovery Kumarina • located in the Bangemall Basin • same geological setting as several other nearby base metal deposits
Slide 7: History
Horseshoe Lights Project History For personal use only • Discovered in 1946 • 1984 - 1988:- Gold CIP plant • 1988 – 1994:- Copper flotation plant and Direct Shipping Ore (DSO) • Final open pit depth – 215m below surface • Mine closed in 1994 – low copper prices prevented a cutback of the pit to acce
Slide 8: Mine Production Summary
Horseshoe Lights Project Mine Production Summary For personal use only
Slide 9: JORC Resource
Horseshoe Lights Project JORC Resource For personal use only • Updated in Jan 2010 by Resource Block Model (oblique view) Motters Zone Coffey Mining • Inferred Mineral Open Pit Resource estimated as 4.9 MT @ 1.0% Cu containing 48,000 tonnes of copper North West • Mineralisation located Stringer Zone
Slide 10: Exploration Status
Horseshoe Lights Project Exploration Status For personal use only • Over 800 RC percussion and ~70 diamond drill holes in the resource database • Greatest density of drilling occurred in-pit during mining operations • The site appears to be fully drill tested within the pit and on adjacent ground
Slide 11: Exploration Opportunity
Horseshoe Lights Project Exploration Opportunity For personal use only • Many of the old drill holes were less than 80m deep • Focus of deep drilling was on the Main Zone • North West Stringer Zone only tested at depth south of line 2000mN • The area north of 2000mN is untested below 80m depth
Slide 12: Exploration Strategy
Horseshoe Lights Project Exploration Strategy For personal use only Phase 1 and 2 drilling was aimed to test: • north along strike from the North West Stringer Zone • infill zones and down dip of the North West Stringer Zone, and • south of Motters Zone
Slide 13: Phase 1 drilling
Horseshoe Lights Project Phase 1 drilling For personal use only • 13 RC holes drilled (2,620m) • Copper mineralisation reported in all holes • 1 hole (RC 1005) drilled at 2050mN to test under an old hole which reported copper mineralisation at ~60m depth • RC 1005 – best intercept recorded, 14m (95-
Slide 14: Phase 2 drilling
Horseshoe Lights Project Phase 2 drilling For personal use only • 13 RC holes drilled (2,632m) • All holes drilled in North West Stringer Zone intersected copper mineralisation • RC 1014 and 1025 drilled 25m north of RC 1005 both intersected high grade copper mineralisation • RC 1014 – 14m @ 3.7% Cu
Slide 15: High Grade Copper Zone
Horseshoe Lights Project High Grade Copper Zone For personal use only
Slide 16: Phase 3 drilling
Horseshoe Lights Project Phase 3 drilling For personal use only • Scheduled to start in March 2011 • Drilling priorities will be: Strike extension and down dip of new mineralised zone Additional in-fill holes and confirmation drill holes in the North West Stringer Zone Testing any new explorat
Slide 17: Copper Tailings Study
Horseshoe Lights Project Copper Tailings Study • For personal use only Production records show that 1.4 MT of copper flotation tailings exist on site • Tailings Testwork: grade ~0.5% Cu / acid leachable with 70-80% recoveries • Preliminary Feasibility Study due to be completed by end of March 11 • T
Slide 18: Kumarina Project
Kumarina Project For personal use only Kumarina represents a potential satellite operation to feed into future Horseshoe Lights production • Copper discovered in 1913 and worked up until 1973 • Historical workings extend over nearly 3km including a 50m deep shaft and drives • Recorded production was
Slide 19: Kumarina Project
Kumarina Project For personal use only The Kumarina area is at an early stage of assessment. • Limited exploration since mining ended • Aircore drilling in 1998 produced up to 6m at 4.24% Cu (39-45m) • Satellite imagery interpretation in 2009 has identified over 20 exploration targets • High resolut
Slide 20: H1 2011 plans
H1 2011 plans For personal use only Horseshoe Lights • Evaluate of VTEM and aeromagnetic/radiometric survey results • Conduct DHEM survey if required • Exploration and Resource Definition Drilling • Drill VTEM/DHEM targets • Complete PFS on tailings re-treatment • Resource Re-estimate Kumarina • Fly
Slide 21: The Value Opportunity
The Value Opportunity For personal use only Tenements with past production Exciting new drilling results Phase 3 drilling commencing in March JORC Resource – 48,000t Cu metal Near term mining potential
Slide 22: Appendix 1: Inferred Mineral Resources Estimate
Appendix 1: Horseshoe Lights Project Inferred Mineral Resources Estimate For personal use only It is noted in respect of the resource estimation that: • Drilling coverage for the project areas ranges from a nominal 20m by 20m to 40m by 60m. The drill holes are typically orientated either vertically
Slide 23: Competent Persons Statement
Competent Persons Statement For personal use only The information in this presentation to which this statement is attached that relates to Exploration Results is based on information compiled by Mr Mark Teakle, who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian