Sunshine Metals Limited · ASX:SHN
Sunshine Metals — Merger or Acquisition (May 2023)
25 slides from Sunshine Metals's merger presentation, May 8, 2023
Slide 1: Transformational Acquisition of Greater Liontown
Transformational Acquisition of Greater Liontown Damien Keys, Managing Director shngold.com.au ASX:SHN
Slide 2: Cautionary statement
Cautionary statement This presentation includes forward-looking statements. When used in this document, the words such as "could", "plan", "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although Sunshine Gold Ltd. (“Sunshine Gold
Slide 3: Acquisition of Greater Liontown: Transforms Sunshine into leading explorer
Acquisition of Greater Liontown 3 Transforms Sunshine into leading explorer 01 Highly prospective projects in under-explored Cairns Tier 1 jurisdiction, which hosts numerous mines 02 Townsville Experienced, successful management team, Sunshine Gold office North Queensland based Mount Isa 03 Highly a
Slide 4: Greater Liontown: A Compelling Acquisition
Greater Liontown: A Compelling Acquisition District has produced 20Moz Au and 14Mt Zn-Cu-Pb-Au VMS ore. 684sqkm project with 4.94Mt @ 12.0% recoverable ZnEq JORC Resources Mining lease applications over 90% of Resource 2017 IP survey that lead to Liontown East discovery (1.47Mt @ 11.0% ZnEq),
Slide 5: Ravenswood Consolidation
Ravenswood Consolidation The acquisition builds a dominant district-scale landholding No new information has been collected and all material assumptions remain unchanged from releases cited: 1. Subject to earn in. SHN ASX Release, 20 January 2023, “Consolidation of High-Grade Advanced Au Prospects R
Slide 6: 1760km2 Ravenswood Consolidation
1760km2 Ravenswood Consolidation Large landholding in a prolific base metals/gold district with limited recent exploration. No new information has been collected and all material assumptions remain unchanged from releases cited: 1. SHN ASX Release 5 May 2023 “Fully Funded Acquisition of Greater Lion
Slide 7: Consolidated JORC Resource
Consolidated JORC Resource Emerging ASX Base Metals Player (4.94Mt @ 12.0% ZnEq), acquisition cost $8.80/t ZnEq metal. Orient Lease Contained Contained Lead Contained Gold Contained Prospect Resource Class Tonnage (kt) Copper (%) Lead (%) Zinc (%) Gold (g/t) Silver (g/t) Zinc Eq. (%) * Contained Zin
Slide 8: Resource Growth Liontown – Liontown East
Resource Growth Liontown – Liontown East Room for another Liontown East 8
Slide 9: Completed Diamond Drilling
Completed Diamond Drilling Unreleased drilling assays. Acquisition • 5,948.6m (26 holes) of drilled but unreleased results Release 1 • Estimated cost of drilling >$1m Release 2 • Drilling targeted: – Liontown East “Gap” Resource infill, – Carrington Lode Au in west Liontown footwall Resource infill
Slide 10: Significant Au-Cu discovery potential
Significant Au-Cu discovery potential Carrington Au-Cu Lode • Vertical vein set in FW of VMS horizon – Au @ Liontown (looking down dip) Carrington Lode • Carrington Lode historically mined (1905- 1913) and under-drilled • Au-rich shallow to Cu-rich deeps? • Significant high-grade intercepts: 2.0m @
Slide 11: Ravenswood Consolidated Snapshot
Ravenswood Consolidated Snapshot High value metals, big systems. Intrusion related and Volcanogenic Massive Sulphides 15km Cu-Au-Mo porphyry orogenic Au targets corridor targets • Vein and Breccia-hosted targets • ~80km of prospective strat horizon that • ~Titov : <100m Exploration Target: 5-8Mt @ h
Slide 12: Greater Liontown
Greater Liontown Resource growth and discovery potential Charters Towers 6.5Moz Au Mount Leyshon 3.5Moz Au Thalanga VMS Cu-Au 10Mt Zn-Cu-Pb Coronation VMS IP Targets Epithermal Au Liontown East – Blenheim – Truncheon Leopardtown – Snowleopard Western Orogenic Au Orient Cougartown – Tigertown - 0.5Mt
Slide 13: VMS IP Targets
VMS IP Targets Liontown-Style Discovery Targets. • 2017, 40 line km IP survey completed • Four targets tested leading to discovery of Liontown East (1.47Mt @ 11.0% ZnEq) • Of remaining 3, best intercept at Esso’s Waterhole of 7.8m @ 5.24% ZnEq from 350.2m comprised of 4.80% Zn, 0.22% Cu, 0.1 g/t Au
Slide 14: VMS Cu-Au - Coronation
VMS Cu-Au - Coronation Akin to nearby Highway Reward (4Mt @ 6.2% Cu, 1.0 g/t Au*) & DeGrussa (12.4Mt @ 4.7% Cu and 1.8g/t Au) * RVR ASX Release 30 November 2021 “November 2021 Presentation” • Four distinct pipe-like magnetic and gravity anomalies • 2.7km north of Highway-Reward Cu-Au Mine: • 4Mt @ 6
Slide 15: Coronation Analogue: DeGrussa Cu-Au VMS
Coronation Analogue: DeGrussa Cu-Au VMS Tabular Cu-Au rich VMS systems. Coronation 100m Cut Cross Section NW to SE through CorG2 and CorG1 • Distinct pipe-like magnetic and gravity anomalies • DeGrussa Cu-Au Mine (ASX:SFR): • Resource: 12.4Mt @ 4.7% Cu and 1.8g/t Au • Mined 2013-2022 • Discovery too
Slide 16: Western Orogenic Au: Tigertown and Cougartown
Western Orogenic Au: Tigertown and Cougartown Large gold system potential 3m @ 3.41 g/t Au, 10g/t Ag (33m) 1m @ 1.81 g/t Au, 181g/t Ag (3m) 3m @ 1.89 g/t Au, 24g/t Ag (12m) 2m @ 1.93 g/t Au, 9.54% Zn, 2.06% Pb (54m) 3m @ 1.80 g/t Au, 1g/t Ag (24m) 1m @ 1.24 g/t Au, 37g/t Ag (13m) Carrington Au shaft
Slide 17: Breccia Au: Wilbur's Hill
Breccia Au: Wilbur’s Hill Breccia hosted Mt Wright (1Moz) and Mt Leyshon (3.5Moz) analogue • IP-MT anomaly beneath outcropping rhyolite complex • Two diamond holes drilled defined: • 480m interval of >3% pyrite*, including 70m >5% pyrite* (22WHDD001); • 67m interval of >2% pyrite* and a 36m interval
Slide 18: Breccia Au: Plateau
Breccia Au: Plateau Lighthouse Farm-In: Breccia hosted Mt Wright analogue • Plateau included in Lighthouse Farm-In with Rockfire Resources • Resource 50koz @ 1.66g/t Au# • Resource remains open at depth and along strike and, importantly, is geologically analogous to the Mt Wright Gold Mine (1.0M oz)
Slide 19: Resource Growth at Triumph
Resource Growth at Triumph Next Resource growth areas delineated Initial JORC Resource RC Drill Progress 118 Koz @ 2.03 g/t Au Completed Shallow Resource >85% oz, < 100m depth Large intrusion-related Au system ~2,500m RC drilling program completed April 2023 Advance • 36 holes, 2,922m completed • 11
Slide 20: Corporate Snapshot
Corporate Snapshot Share price Market capitalisation $A0.017c A$18.0m 5 May 2023 5 May 2023 52 week high $0.043, low $0.012 Shares on issue Cash 1,059.7m A$5.6m 5 May 2023 5 May 2023 Unlisted options Debt 105.6m A$0.0m (Ex $0.03) 5 May 2023 Performance Rights Directors’ Investment 8.5m A$3.2m 20
Slide 21: Strong Leadership
Strong Leadership Extensive experience in the resources sector, including project acquisition, development and operations Damien Keys Alec Pismiris Anthony Torresan Paul Chapman Les Davis Managing Director Non-Exec Chairman Non-Exec Director Non-Exec Director Non-Exec Director CoSec | CFO PhD (Struc
Slide 22: Planned Activities
Planned Activities Strategy Program Objective Resource Growth Liontown East Footwall (Au-Cu) Grow 1.5Mt Resource & test shallow IP anomaly Discovery VMS IP Targets (x 10) Another Liontown East (1.5Mt @ 10.9% ZnEq) Coronation (Gravity Anomalies x 3) Another Highway Reward (4Mt @ 6.2% Cu, 1 g/t Au) Ti
Slide 23: Upcoming Newsflow
Upcoming Newsflow Planned activities. o May 5, 2023: Issue of Placement Shares o May 2023: Assay results from RC drilling, Triumph o June 21, 2023: General Meeting o May/June 2023: 16 previous holes (3,865m) from Greater Liontown logged and assayed o June 2023: Greater Liontown transaction completio
Slide 24: Two projects. Big system potential.
Two projects. 24 Big system potential. 01 Highly prospective projects in under explored Cairns Tier 1 jurisdiction. 02 Townsville Experienced, successful management team, Sunshine Gold office North Queensland based. Mount Isa 03 Highly active explorer - 35km of drilling to Ravenswood Consolidated da
Slide 25: Contact us
Contact us 1 / 23 Mackley St, Garbutt, QLD, 4814 +61 8 6245 9828 admin@shngold.com.au www.shngold.com.au LinkedIn www.linkedin.com/company/70551686 Facebook Sunshine Gold Ltd Twitter #SunshineGold20 ASX SHN 25