Slide 1: Fitton high-grade uranium discovery
For personal use only Fitton high-grade uranium discovery South Australia Paydirt Uranium Conference Adelaide, South Australia 29th April 2013
Slide 2: Disclaimer
Disclaimer For personal use only • This document has been prepared by Core Exploration Limited (“Core”, “Company”) and provided as a basic overview of the tenements held or controlled by the company. This presentation does not purport to be all-inclusive or to contain all the information that you or
Slide 3: For personal use only
For personal use only
Slide 4: Core: CXO Investment Summary
Core: CXO Investment Summary For personal use only • Core has made an outstanding new discovery of high grade uranium in its maiden drilling program on the 100% owned Fitton Project in S.A. – Maiden drill program at Fitton in 2012 had spectacular high grade uranium results: • 5m @ 2,540ppm U3O8 (0.2
Slide 5: Fitton uranium discovery in proven world-class uranium mining province
Fitton uranium discovery : in proven world-class uranium mining province For personal use only • Large mines, mine developments and deposits within the region: Scott Lee Prospect – Beverley Mine 46Mlb U3O8 Resource 7.7 Mt @ 0.27% (21,000T U3O8) – Four Mile Project 71Mlb U3O8 Resource 9.8 Mt @ 0.33%
Slide 6: Fitton: one of the best new uranium discoveries in the region since Four-Mile
Fitton : one of the best new uranium discoveries in the region since Four-Mile For personal use only • Core’s exploration work and current drilling at Fitton has now confirmed that : – uranium mineralisation outcrops (up to 0.30% U3O8 at surface) – uranium mineralisation contains high grade (up to 5
Slide 7: Fitton uranium exploration steps to new discovery
Fitton uranium exploration steps to new discovery For personal use only Jan 2011 – 50ppm U3O8 in regional PIRSA sampling July 2011 – 600ppm found in first focussed mapping Nov 2011 – soil sampling defines 1,500m long anomaly Jun 2012 – 3,300ppm high-grade uranium found in outcrop Nov 2012 – Dis
Slide 8: Fitton high-grade uranium discovery: 2012/2013 drill results
Fitton high-grade uranium discovery: Exciting 2012/2013 drill results For personal use only One of the best uranium discoveries in the region since Four Mile Hole ID MGA_East MGA_North From To Width U3O8 ppm Cu ppm SLRC001 365650 6686875 24 26 2 140 960 SLRC003 365577 6686914 25 26 1 355 243 SLRC004
Slide 9: Fitton: Scott Lee Prospect 2012 RC Drilling Discovery Results
Fitton: Scott Lee Prospect 2012 RC Drilling Discovery Results For personal use only
Slide 10: Fitton RC Drilling Program: magnetic anomalies drilled in 12
Fitton RC Drilling Program: magnetic anomalies drilled in 2012 For personal use only
Slide 11: Also Hamilton Prospect: Large early stage uranium target
Also Hamilton Prospect: Large early stage uranium target For personal use only
Slide 12: Scott Lee 2013 RC Drilling: extends strike and depth
Scott Lee 2013 RC Drilling: extends strike and depth For personal use only
Slide 13: Scott Lee 2013 RC Drilling: Assays to be received by May
Scott Lee 2013 RC Drilling: Assays to be received by May For personal use only Highly anomalous scintillometer measurements of current RC drilling include: Easting Northing Interval Average Hole ID from to min (cps) max (cps) MGA94 MGA94 (m) (cps) SLRC016 365690 6686895 12 17 300 490 5 396 SLRC017 3
Slide 14: Scott Lee 2013 RC Drilling: CPS readings an indicator of grade
Scott Lee 2013 RC Drilling: CPS readings an indicator of grade For personal use only The figure on the next slide compares the scintillometer (counts per seconds - CPS) readings between: - the first RC drill program (SLRC001-SLRC0014) - and recently completed second RC program (SLRC015-SLRC029). Res
Slide 15: Scott Lee 2013 RC Drilling: Assays to be received in May
Scott Lee 2013 RC Drilling: Assays to be received in May For personal use only Comparison of CPS readings between 2012 and 2013 RC drilling at Scott Lee: 2012 RC Drilling 2013 RC Drilling Figure1#. Comparison of scintollometre readings (CPS) of drilling on Scott Lee Prospect, Fitton Project. Note: C
Slide 16: Western extension to Scott Lee - more uranium found at surface
Western extension to Scott Lee - more uranium found at surface For personal use only U3O8 1,400ppm
Slide 17: Fitton uranium 2013: next stages of work
Fitton uranium 2013 : next stages of work For personal use only • Receive and report assays from recently completed RC drill program • Interpret data with a focus on predicting high-grade for next drill program • Plan further RC drilling to extend mineralisation and target high grade • Possible diam
Slide 18: Uranium prices forecast to rise: Uranium the standout commodity?
Uranium prices forecast to rise : Uranium the standout commodity ? For personal use only • Prices – Uranium prices plummeted post GFC and Fukushima – Prices have created unsustainable underinvestment in supply • Supply – Price needs to increase for supply to keep up with growing demand – End of the
Slide 19: Forward Exploration Program
Forward Exploration Program For personal use only Project Q2 2013 Q3 2013 Q4 2013 Fitton, S.A RC Drilling Geophysics Drilling* Albarta, N.T Sampling/Mapping Sampling/Mapping Sampling/Mapping Soils Soils Soils Geophysics Geophysics Geophysics Drilling* Drilling* * Subject to results and Board approva
Slide 20: Summary
Summary • Core’s shareholders are exposed to the immediate upside and in the future as uranium For personal use only prices rebound of the outstanding new discovery on the 100% owned Fitton Project, in S.A. Uranium mineralisation at Fitton: – Outcrops – Contains high grades – Drilled from surface an
Slide 21: CXO: Corporate Summary
CXO : Corporate Summary For personal use only Capital Structure • Shares on issue 49M • Options 11M • Share Price ~$0.07c • Market Cap (undiluted) ~$3.5M • Cash (31 Dec 2012) $1.7M
Slide 22: Competent Person statement
For personal use only The information in this report has been compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd and who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute’s codes and recommended pra