Anglogold Ashanti Plc · NYSE:AU
Anglogold Ashanti — NewGenGold Conference 2023
42 slides from Anglogold Ashanti's conference presentation, Feb 26, 2024
Slide 1: Silicon Project USA
See page 31 for slide transcript SILICON PROJECT USA Mark Doyle NewGenGold Conference NOVEMBER 14-15, 2023 Co-authors: Trevor Burr, Andrew Jenkins, and Philip Newton
Slide 2: Disclaimer
DISCLAIMER Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in cos
Slide 3: Where We Are
WHERE WE ARE “A Greenfields discovery of epithermal mineralisation in Nevada, USA” 11 km NE of Beatty Major highway (US 95) Climatic extremes DISCOVERY DRIVEN TEAMWORK 3
Slide 4: Agenda
AGENDA Project generation – patience and foresight Early exploration – a near miss Recent exploration – conceptual targeting Project geology – human capital to build knowledge Project development – organic growth and consolidation 4
Slide 5: Project Generation
PROJECT GENERATION Name Type Years Au (Moz) Ag (Moz) Bullfrog LSE 1905-1999 2.31 3.02 Comstock Lode ISE 1859-1990 8.4 193 Goldfield HSE 1903-1945 4.19 1.45 Tonopah ISE 1900-1961 1.86 174.15 After John and Henry (2022) 5
Slide 6: Project Generation
PROJECT GENERATION Renaissance Gold Inc. • Multispectral remote sensing data • Field reconnaissance • February 2014 (40% target staked) Exploration hiatus • Yucca Mt. nuclear repository rail corridor • Withdrawal order December 2005 • Expired midnight December 27, 2015 Financial resources • Trough i
Slide 7: Project Generation – AngloGold Ashanti
PROJECT GENERATION – ANGLOGOLD ASHANTI 2016 Opportunity Partnership Optionality Equity Alteration signature Option agreement Initial (now Merlin) 100% AngloGold Low exploration maturity March 2017 Mid 2018 & early 2019 June 1, 2020 Portfolio balance Four stage Competitor intere
Slide 8: Early Exploration
EARLY EXPLORATION Historical mining • Ceramic grade (99.8%) silica (1910–1920) • Minor mercury U.S. Nevada Gold Search JV • 13 rotary and RC holes (1990–1991) • Silicon: 5 holes (110-268 m, av. 217 m) • Narrow low-grade (median 0.41 g/t Au) Renaissance Gold Inc. • Rock chip and steam-sed. sampling (
Slide 9: Recent Exploration – AngloGold Ashanti
RECENT EXPLORATION – ANGLOGOLD ASHANTI Target definition Budget “burn” Discovery Geological mapping January 2018 Program trimmed Rock chip analyses SD-0001 failed 6 DDH for 2,364 m Spectral analyses Chalcedony cap 2nd hole (SD-0004) 9
Slide 10: Discovery Drill Program
DISCOVERY DRILL PROGRAM July 2018 geological model 10
Slide 11: Assessing Scale Potential
ASSESSING SCALE POTENTIAL • Drill core IP (pyrite, quartz vein) • Soil geochemistry • Orientation IP survey (September 2018) • 400 m x 200 m (2.6 km x 2.3 km area) • Modelled resistor & chargeability anomaly • Au, Ag and pathfinders ± detection (Hg) 11
Slide 12: Assessing Scale Potential
ASSESSING SCALE POTENTIAL Follow-up drilling Q4 2018 – Q2 2019 • 42 holes for 16,950 m 38.1 m @ 2.06 g/t Au (SRC-0001*) 48.8 m @ 5.8g/t Au (SRC-0003) 36.6 m @ 12.09 g/t and 13.7 m @ 12.69 g/t (SD0016) Offset pole-dipole IP survey Q1 2019 • Silicon-Thompson-Tramway corridor • Single line over M
Slide 13: Realising Scale Potential
REALISING SCALE POTENTIAL Permitting Heating up Merlin discovery Baseline studies Accelerated drilling IP target tested Plan of Operations Concept-study pit Dec 2020 – Mar 21 Sep 2019 – Aug 2020 Merlin prospect Extension 11-month hiatus Corvus (July 2020 ) Scale Modelling /
Slide 14: Merlin Discovery
MERLIN DISCOVERY Initial intercepts • 214 m @ 1.19 g/t Au (MD-0001) • 176.8 m @ 0.65 g/t Au (MD-0005) Delineation drilling • 285 m @ 3.27 g/t Au (MER-23-0147-RD) • 115.8 m @ 2.42 g/t Au (MRC-0014) • 214.8 m @ 2.46 g/t Au (MDT-0021) Vertical projection of mineralised zones 14
Slide 15: Expanded Silicon Project
EXPANDED SILICON PROJECT Silicon Deposit Tonnes Grade Contained gold Silicon Mineral As at 31 December 2022 Category million g/t Tonnes Moz Resource Open pit Measured — — — — Indicated 121.56 0.87 105.9 3.4 Inferred 36.03 0.7 25.23 0.81 Silicon Total 157.59 0.83 131.13 4.22 Merlin Delineation Drilli
Slide 16: Project Geology
PROJECT GEOLOGY 16
Slide 17: Project Geology – Stratigraphic Correlation
PROJECT GEOLOGY Stratigraphic correlation • Formative processes & paleo-topography Extensive (ignimbrites) Restricted (lavas) Unconformities (sequences) Mineralisation host • Permeability, rheology, mineralogy 17
Slide 18: Project Geology – Volcano-tectonic Elements
PROJECT GEOLOGY Volcano-tectonic elements Spatial association Temporal disconnect Crustal extension Detachment faulting Regional unconformities Time transgressive Pull-apart basins 18
Slide 19: Project Geology – Structural Architecture
PROJECT GEOLOGY Structural Architecture • Fault-bound blocks • Stratigraphic juxtaposition and tilting Accelerated extension (12.7-11.6 Ma) • NW-SE extension • Development of NE-SW trending faults (Enterprise) • Inception Thompson-Tramway as transfer fault • Dextral transtension • Thompson-Tramway r
Slide 20: Mineralisation – Silicon Deposit
MINERALISATION Silicon deposit • Known strike length 1.4 km • Mineralisation Higher grade (> 2 g/t Au) on faults Semi-conformable low-medium Au • Mineralisation style 1. Epithermal veins 2. Hydrothermal breccia 3. Disseminated • Quartz-pyrite-adularia-calcite veins crustiform and colloform ban
Slide 21: Mineralisation
y MINERALISATION A ANGLOGOLDASHANTI
Slide 22: Mineralisation
MINERALISATION <A ANGLOGOLDASHANTI 17.1 gitAu te Ile. ia < +
Slide 23: Mineralisation – Merlin Deposit
MINERALISATION Merlin deposit • Known strike length 2 km • Semi-conformable sheet • Numerous fault offsets • Strongly oxidized • Mineralisation style Epithermal veins Breccia & disseminated 23
Slide 24: Alteration Zonation – Surface
ALTERATION Alteration zonation - surface • Asymmetric (west of Thompson fault) • Chalcedony cap • Advanced argillic, argillic, propylitic zones 24
Slide 25: Silicon Alteration Zonation
SILICON ALTERATION ZONATION Alteration zonation - vertical • Kaolinite – K-alunite (up to 300 m) • Kaolinite, kaolinite-smectite & smectite • Illite-smectite • Quartz-pyrite-calcite-adularia (faults) SD0002, 234.2 m “Applying an integrated approach to resolve the alteration signature and paragenesis
Slide 26: Mineralisation Model
MINERALISATION MODEL • Pull-apart basins (accelerated regional extension) • Faults loci for hydrothermal fluid flow • Silica deposition at paleo-groundwater table • Qtz-pyrite-adularia-calcite-vein textures (boiling) • Illite-smectite alteration at depth (higher T °C) • Advanced argillic overprint t
Slide 27: Project Development
PROJECT DEVELOPMENT “Geological insights lead to consolidation of an exciting district” Expanded Corvus Gold Coeur Sterling Inc Silicon Project Organic growth January 2022 November 2022 Expected and Realised Benefits • Optimise Inferred Mineral Resource drilling at Merlin • Potential district-scale
Slide 28: Conclusion
CONCLUSION Key drivers – DISCOVERY Patience Partnership Targeting Resolve Teamwork Leverage • Tenure • Foresight • Conceptual • Drilling ($$$$) • Discovery • Competitive • Low-risk • Resources to • Field-oriented driven advantage jurisdiction test and permit approach • Requisite skills • Consolidati
Slide 29: Thank You
ANGLOGOLDASHANTI
Slide 30: Supplement
SUPPLEMENT Conceptual Mining • 2 pits, 2 overburden storage areas Conceptual Processing • 3-stage crushed leach facility • ROM leach extension • Combined adsorption recovery (carbon plant; ADR) Conceptual Support Infrastructure • Pit dewatering system • Fresh water supply system (incl. pipeline & pu
Slide 31: Transcript
TRANSCRIPT Slide 1 Thank you for your introduction, Keith. It’s a pleasure to be able to present AngloGold Ashanti’s discovery of the Silicon Project at the NewGenGold 2023 conference. Slide 2 I need to draw your attention to this disclaimer – it will be on our website if you need to read it in deta
Slide 32: Transcript
TRANSCRIPT Slide 5 The project is within the Walker Lane belt of the western Great Basin. The Walker Lane belt has delivered significant historical epithermal gold-silver discoveries, but more recently has been perceived as relatively mature. The closest deposit is Bullfrog which is located to the w
Slide 33: Transcript
TRANSCRIPT Slide 7 AngloGold entered discussions with Renaissance during 2016 and conducted field reconnaissance of the Silicon property as part its target generation activities. AngloGold’s Greenfields culture supports discussion and debate of portfolio fit and is informed by a systematic assessmen
Slide 34: Transcript
TRANSCRIPT Slide 9 AngloGold commenced drilling in January 2018 after completing geological mapping, spectral, and surface rock-chip geochemical programs tailored to delineate drill targets and guide the submission of required permits. A 7-hole diamond drill program was designed to test the explorat
Slide 35: Transcript
TRANSCRIPT Slide 13 Concurrent with drilling, baseline cultural, heritage and environmental surveys were conducted in preparation for lodgment of a Plan of Operations submission necessary to conduct ground disturbance activity exceeding the 5 acres allowed under a Notice of Intent permit. The Plan o
Slide 36: Transcript
TRANSCRIPT Slide 15 In March 2022, AngloGold announced a maiden Mineral Resource at Silicon project and advancement of the project to a Pre-Feasibility stage. The current Inclusive Mineral Resource estimate is 4.22 Moz of gold at 0.83 g/t and 17.77 Moz of silver at 3.51 g/t contained within 157.59 m
Slide 37: Transcript
TRANSCRIPT Slide 17 Stratigraphic correlation within volcanic successions is dependent on understanding formative processes and influence of paleo-topography on emplacement of units. There is good correlation between host units at Silicon and Merlin reflecting the extensive nature of ignimbrites. La
Slide 38: Transcript
TRANSCRIPT Slide 19 The Silicon project area comprises fault bounded structural blocks, typically 1.5–8 km2 in area, delineated by stratigraphic juxtaposition and differential tilting relative to contiguous areas. The major exposed structural element in the immediate Silicon project area is the Thom
Slide 39: Transcript
TRANSCRIPT Slide 21 A significant portion of the known higher grade gold mineralisation is associated with banded epithermal veins (LHS top). Ilsemannite (Mo3O8 · nH2O) is locally present and identifiable visually by patchy blue discoloration in drill core upon exposure (LHS bottom). Hydrothermal b
Slide 40: Transcript
TRANSCRIPT Slide 25 There is a vertical zonation in the wall rock clay alteration mineral assemblage with kaolinite-potassium alunite at surface, passing downwards through kaolinite, kaolinite-smectite, and smectite zones into an illite-smectite assemblage. The transition from smectite to illite-sme
Slide 41: Transcript
TRANSCRIPT Slide 27 Discovery of the Silicon and Merlin deposits validated the targeting approach and prompted an assessment of the greater Bullfrog and Bare Mountain Districts, including potential infrastructure and mining synergies. AngloGold acquired Corvus Gold in January 2022 and the Company al
Slide 42: Pim
Pim ANGLOGOLDASHANTI