Iondrive Limited · ASX:ION
Iondrive — Southern Gold — Investor Presentation (July 2020)
28 slides from Iondrive's investor presentation, July 2020
Slide 1: Precious Metals in South Korea
SOUTHERNGOLD SOUTHERNGOLD PRECIOUS METALS IN SOUTH KOREA Drilling at Aphae Project, South Korea, June 2020 Corporate Presentation July 2020 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: Unique Country Play + Discovery Potential
SOUTHERNGOLD Unique Country Play + Discovery Potential Our Strategic Focus: “The discovery and definition of high-grade precious metal deposits in South Korea.” What are the key’s to our success? 1. South Korean geology 2. ‘Boots on the ground’ culture 3. Secure tenure in good jurisdiction 4. Active
Slide 4: Why South Korea?
SOUTHERNGOLD Why South Korea? Map of the World showing size and location of gold deposits found in the period 2009-2018. Turkey / Carpathian Belt Far East Russia Alaska/Yukon Northern Ontario China South Korea SW USA/ Mexico currently unrecognized Latin America prospectivity West Africa Central /NE
Slide 5: Tectonic Continuum with China & Japan
SOUTHERNGOLD Tectonic Continuum with China & Japan South Korea, a piece of the North Asian tectonic puzzle between Japan and China ❑ World class Au deposits in China e.g.: Jiaodong Peninsula orogenic Au ❑ World class Au deposits in Japan e.g.: Hishikari epithermal Au ❑ Huge discovery potential due t
Slide 6: Some Historical Context
SOUTHERNGOLD Some Historical Context Gold production in South Korea is largely in the past…. ❑ In pre-modern times Korea and Japan were well recognised sources of gold in the far east ❑ Gold mining occurred during Japanese occupation and in 1960-70’s ❑ Doug Kirwin (and team) explored in 1980-1990’s
Slide 7: Ivanhoe Days: Epithermal Au in SK
SOUTHERNGOLD Ivanhoe Days: Epithermal Au in SK Bonanza gold & silver was mined at Eunsan by Ivanhoe prior to focusing on Mongolia ❑ Various South Korean groups mined Eunsan, Moisan and Gasado Island ever since Eunsan Hill Eunsan Mine, 2002 4g/t Au peak on hill (n>100)* Eunsan Trench 1 Slot open pit
Slide 8: Highly Regarded Technical Team
SOUTHERNGOLD Highly Regarded Technical Team Ex-Ivanhoe geological team ‘Boots on the Ground’ culture …. Recent board appointment Doug Kirwin, NED Economic Geologist • Oyu Tolgoi Cu-Au, Mongolia • Hill 217 Au, China • Kerta/Jelai/Seruyung Au, Indonesia • Merlin Mo-Re, Australia • Eunsan/Moisan/Gasado
Slide 9: Safe and Secure Jurisdiction
SOUTHERNGOLD Safe and Secure Jurisdiction 70km2 secure tenure in good jurisdiction (and growing) ❑ Tenure registered in online database, mining code, detailed regulatory system ❑ 0% government royalty, 25% corporate tax rate, extensive infrastructure/manufacturing base ❑ Government funding available
Slide 10: Actively Drilling
SOUTHERNGOLD Actively Drilling Drill Operations relatively unimpacted by COVID19 ‘Hand of Faith’, Beopseongpo Assays reported – low Au tenor ‘Spider’, Beopseongpo Assays pending Aphae Assays pending Shin Adit, Deokon – Drilling completed Dokcheon - Drill pending Weolyu - Drill pending Drill Pipeline
Slide 11: Aphae – Assays Pending
SOUTHERNGOLD Aphae – Assays Pending 1 2 3 1 2 4 3 4 See ASX Release 17th June 2020: Drilling Operations Update – Mineralised Breccia at Aphae 11
Slide 12: Shin Hill – Current Drilling
SOUTHERNGOLD Shin Hill – Current Drilling 12
Slide 13: Weolyu – Current Drill Plan
SOUTHERNGOLD Weolyu – Current Drill Plan Southern Shoot 330 Level – 25m strike at avg. 0.44m vein thickness @ 13.1 g/t Au & 522 g/t Ag Southern Shoot 310 Level – 30m strike at avg. 0.42m vein thickness @ 8.3 g.t Au & 193 g/t Ag Multi Vein Target ~300m Vertical Relief See ASX Release 29th Jan 2019: H
Slide 14: Dokcheon – Current Drill Plan
SOUTHERNGOLD Dokcheon – Current Drill Plan 14
Slide 15: Project Generation
SOUTHERNGOLD Project Generation Field teams identifying new mineralised systems every 4-6 weeks of field work, 100 targets See ASX Release 14th April 2020: Two gold mineralised discovery areas confirmed: Geum-Mar and Daeam Valley 15
Slide 16: Building the Project Portfolio
SOUTHERNGOLD Building the Project Portfolio Southern Gold Ltd (ASX) Bluebird Merchant Ventures Ltd (LSE) EV ~US$9m EV ~ US$19m 100% 50% International Gold (IGPL) 50% [Singapore subsidiary] Gubong Project Kochang Project JV Co Ltd JV Co Ltd 100% [Singapore [Singapore subsidiary] subsidiary] 100% 100%
Slide 17: Gubong and Kochang Project JV (SAU 50%)
SOUTHERNGOLD Gubong and Kochang Project JV (SAU 50%) Joint Venture with Bluebird Merchant Ventures (BMV) on Kochang and Gubong projects ❑ Re-opening of 2 gold mines shut in the 1970’s-1980’s when the gold price was very low ❑ Very low capex (<US$5m), with huge ‘value-in-place’ due to historical deve
Slide 18: Corporate Profile
SOUTHERNGOLD Corporate Profile Ordinary shares 128.3m Share price (8 July 2020) AUD$0.13 Market capitalisation (undiluted) AUD$16.7m Estimated Cash (July 2020, unaudited) ~AUD$3m Debt (matures Aug. 2020) AUD$0.75m Enterprise value (EV) AUD ~AUD$14.4m EV USD (US$0.693 fx rate) ~USD$9.3m EV CAD (US$0.
Slide 19: Peers in Japan
SOUTHERNGOLD Peers in Japan North East Asia Gold Play World class Au deposits in World class Au deposits in Jiaodong Peninsula, China Kyushu, Japan (discovery pre 2009) Southern Gold (SAU.AX) Irving Resources (IRV.CN) Japan Gold (JG.V) ASX Listed: 13c/share CNSX Listed: C$3.92/share TSXV Listed: CAD
Slide 20: The Drill Pipeline
SOUTHERNGOLD The Drill Pipeline Funded to complete diamond drilling programmes across the portfolio in FY21 ❑ Follow up drilling of major new vein system at Assays in Beopseongpo (SAU 100%): Hand of Faith + Spider process ❑ First pass scout drilling of Shin Adit at Deokon Assays in (SAU 100%) proces
Slide 21: Summary
SOUTHERNGOLD Summary ❑ South Korea: a long history of gold mining but very little modern exploration and is a first-world stable jurisdiction ❑ Strategic target: Tier 1 high-grade epithermal gold-silver deposits, e.g. Hishikari in Japan ❑ Experienced exploration team: ‘first mover advantage’ and wel
Slide 22: Want to Know More?
SOUTHERNGOLD Want to Know More? Simon Mitchell Managing Director Office: +61 8 8368 8888 smitchell@southerngold.com.au info@southerngold.com.au Web Address: www.southerngold.com.au Physical Address: 10 George Street Stepney, South Australia 5069 Australia Postal Address: PO Box 255 Kent Town SA 5071
Slide 23: Technical Appendix – Early through Late Cretaceous
SOUTHERNGOLD Technical Appendix – Page 1 Early through Late Cretaceous (Andean-Type Continental Margin) Slab roll-back has resulted in the migration of volcano-plutonic arc from the NW to SE. Sinistral crustal deformation & continental margin calc-alkaline I-Type (magnetite- series) arc volcanism du
Slide 24: Technical Appendix – Paleogeographic Reconstruction
SOUTHERNGOLD Technical Appendix – Page 2 A paleogeographic plate reconstruction of the Japanese Arc relative to the Korean Peninsula during the Cretaceous (modified from Chough and Sohn, 2010). The distribution of intrusive-extrusive-non-marine deposits represents a volcanic arc associated with subdu
Slide 25: Technical Appendix – Mesozoic Metallogeny & Targeting
SOUTHERNGOLD Technical Appendix – Page 3 Mesozoic Metallogeny & Targeting Excellent Potential Exists for the Discovery of a Wide Range of Precious Metal Deposit Types – numerous occurrences yet to be evaluated: ❑ LS-, IS- & HS epithermal Au-Ag vein- & breccia-hosted targets -Adularia-sericite type L
Slide 26: Appendix – Project Example: Weolyu
SOUTHERNGOLD Appendix – Project Example: Weolyu Context: New Low Sulphidation Epithermal System discovered to south of historic Au-Ag-Ge Mine Historic Mine Newly 300m discovered Vertical vein system Relief 26
Slide 27: Appendix – Project Example: Weolyu
SOUTHERNGOLD Appendix – Project Example: Weolyu Underground channel sample results in artisanal workings confirm high grade Au-Ag in-situ veins Note: this is sampling on just one of several veins in the system Southern Shoot 330 Level – 25m strike at avg. 0.44m vein thickness @ 13.1 g/t Au & 522 g/t
Slide 28: Appendix – Project Example: Weolyu
SOUTHERNGOLD Appendix – Project Example: Weolyu Diamond drilling demonstrated continued Au-Ag grade and width below underground workings WUDD007 NQ drill core of epithermal banded quartz veining mineralisation. From 152.90m 3.58m @ 4.80g/t Au, 129.10g/t Ag. WUDD007 NQ drill core of epithermal banded