Polarx Ltd · ASX:PXX
Polarx — Investor Presentation (November 2019)
28 slides from Polarx's investor presentation, Nov 20, 2019
Slide 1: The Alaska Range Project; new Cu-Au porphyry discoveries in the USA
The Alaska Range Project; new Cu‐Au porphyry discoveries in the USA Investor Update 20 November 2019 ASX: PXX www.polarx.com.au 1
Slide 2: First hole at Mars discovers porphyry-style veins containing Cu and Mo
First hole at Mars discovers porphyry‐style veins containing Cu and Mo “Visual confirmation of porphyry‐style veins containing chalcopyrite and molybdenite in the first hole at Mars is extremely encouraging. Given the large size of the co‐incident copper‐gold‐molybdenum geochemical anomaly and the g
Slide 3: Summary of 2019 achievements
Summary of 2019 achievements PolarX has two high‐grade, expandable resources + One new porphyry Cu‐Au discovery + High‐rank porphyry targets Entered into a strategic partnership with Lundin Mining Discovered Cu‐Au‐Mo porphyry mineralisation at Mars Drilled the northern edge of porphyry system
Slide 4: Alaska is low risk: Under-explored TIER 1 geology in a TIER 1 jurisdiction
Alaska is low risk: Under‐explored TIER 1 geology in a TIER 1 jurisdiction Pro‐mining state and a Global Top 10 investment destination per 2019 Fraser Institute Rankings Over 40Moz Au mined to date Considerably under‐explored compared to other TIER 1 provinces – new deposits are still being fo
Slide 5: Strategic Partnership with Lundin Mining Corporation
Strategic Partnership with Lundin Mining Corporation Strategic earn‐in into PolarX’s 100% owned Stellar Project The Zackly Cu‐Au skarn claims and Caribou Dome Project are excluded and remain 100% PolarX Lundin Mining invested A$4.3M, now PolarX’s largest (12.8%) shareholder Exclusive option,
Slide 6: In the least explored part of the most prolific copper belt in the world
In the least explored part of the most prolific copper belt in the world Modified after Sun et al 2015, based on USGS data 6
Slide 7: At the intersection of two major crustal-scale faults
At the intersection of two major crustal‐scale faults Straddles the major structure between the Tintina Gold Belt and the main Porphyry Cu‐Au Belt in Alaska‐Yukon‐ British Columbia‐Montana Intersected by a major NW crustal‐scale fault which contains known porphyry systems at its southern end P
Slide 8: Rapidly growing resource with huge upside
Rapidly growing resource with huge upside 15km x 7km district scale copper anomaly associated with the interpreted intrusive cluster Mars, Jupiter, Gemini and Zackly display Cu‐Au‐Mo‐ Ag‐As anomalism (the classic porphyry indicators) Well defined 12 km‐long WNW trending structural corridor is
Slide 9: 12km long mineralised corridor – rapid near term growth
12km long mineralised corridor – rapid near term growth 100% owned Zackly skarn likely to rapidly increase in size with further drilling to the east. Mars porphyry target has anomalous Cu‐Au‐Mo‐As geochemistry and geophysical 55m @ 2.8g/t Au + 0.6% Cu anomalies consistent with 47m @ 3.1g/t Au +
Slide 10: Mars: magnetic anomaly, IP anomaly and soil anomaly (Cu-Au-As-Mo)
Mars: magnetic anomaly, IP anomaly and soil anomaly (Cu‐Au‐As‐Mo) Magnetic data (Analytical signal) Copper in soil anomalism 10
Slide 11: Mars Target: co-incident magnetic, IP and Cu-Au-As-Mo anomalism
Mars Target: co‐incident magnetic, IP and Cu‐Au‐As‐Mo anomalism Spatially co‐incident magnetic anomaly (potential oxidised‐intrusion), IP anomaly, and Cu‐Au‐Mo‐As in soil anomaly. Supported by up to 7% Cu and 7g/t Au in rock‐chip samples 11
Slide 12: Mars drill core samples with multiple Cu and Cu-Mo veining events
Mars drill core samples with multiple Cu and Cu‐Mo veining events Vein types below are usually found just outside the main mineralised zones in porphyry deposits 19MAR001 at 114.9m depth. Early phase (i) epidote‐quartz veins with epidote haloes overprinted by three later phases 19MAR001 at 176.5m de
Slide 13: Multiple Cu and Cu-Mo veining events, potassic and phyllic alteration
Multiple Cu and Cu‐Mo veining events, potassic and phyllic alteration Copper and molybdenum sulphides associated with hydrothermal alteration near a porphyry source 19MAR001 at 192.3m depth. Quartz‐carbonate‐pyrite‐chalcopyrite veins with biotite and feldspathic/sericitic haloes. Likely to be multip
Slide 14: Multiple Cu and Cu-Mo veining events: more drilling required!
Multiple Cu and Cu‐Mo veining events: more drilling required! Noticeable increase in mineralisation intensity below 300m depth, with copper more prevalent than iron 14
Slide 15: Mars drill cross-section and mineralisation summary
Mars drill cross‐section and mineralisation summary Six phases of veining have been identified throughout drill hole 19MAR001, four of which contain copper mineralisation; i. Epidote‐silica vein with an epidote rich halo ii. Chlorite‐pyrite +/‐ chalcopyrite iii. Carbonate‐quartz‐pyrite +/‐ chalcopyr
Slide 16: Relationship noted between copper grade and gypsum alteration
Relationship noted between copper grade and gypsum alteration Alteration + clay minerals from spectral analysis 3-D drill hole visualisation of copper, gypsum Copper anomalism associated Gypsum presence indicative of with chlorite alteration highly oxidised conditions, associated with higher Cu, Au
Slide 17: Assays for 19MAR001 – good grades for the edge of a porphyry system
Assays for 19MAR001 – good grades for the edge of a porphyry system From (m) To (m) Interval (m) Cu % Au ppm Mo ppm 308.02 410.09 102.07 0.22% 0.07 20 incl 322.02 329.02 7.00 0.32% 0.10 6 and 347.86 384.09 36.23 0.26% 0.08 43 incl 355.85 384.09 28.24 0.28% 0.09 52 and 365.91 384.09 18.18 0.30% 0.09
Slide 18: Saturn porphyry Cu-Au target
Saturn porphyry Cu‐Au target Blind target generated from egional magnetic data High‐resolution aeromagnetic data validates target, particularly the 3‐ D inversion modelling Validated by strong interest from numerous international mining companies, including our strategic partner, Lundin Mining
Slide 19: Saturn Drill Plan and Cross-section Summary – 5 deep holes in 2019
Saturn Drill Plan and Cross‐section Summary – 5 deep holes in 2019 Drill Plan on Magnetic Data Drill Sections on IP Data A A’ A A’ B B’ B B’ 19
Slide 20: Saturn drilling: key observations
Saturn drilling: key observations Saturn is covered by a thick layer of unconsolidated post‐mineral cover which slowed drilling progress. While further work is required to analyse the geological, geochemical, spectral and petrographic information, current consensus is that a nearby porphyry sour
Slide 21: Hyperspectral data shows vectors from clay (argillic) alteration
Hyperspectral data shows vectors from clay (argillic) alteration Argillic alteration Increasing in thickness to east and south, Propylitic alteration providing a vector to the core of the system 21
Slide 22: Interpretation based on observations to date: more drilling required
Interpretation based on observations to date: more drilling required Schematic porphyry alteration zonation Interpretation of the 7,008,370N cross‐section suggests potential porphyry source below and to the east of current drilling Overprinted advanced argillic ? A 0km A A A A A A 1km Argillic Mirro
Slide 23: Preliminary gravity data shows density low (intrusion/target) to south
Preliminary gravity data shows density low (intrusion/target) to south Gravity grid plotted over RTP magnetic image Gravity contours plotted over RTP magnetic image 23
Slide 24: Plus, low-risk upside at Zackly: high grades 850m east of current resource
Plus, low‐risk upside at Zackly: high grades 850m east of current resource PLAN VIEW CROSS‐SECTION 24
Slide 25: Concluding Statements
Concluding Statements Big holding of high quality, high‐grade copper‐gold‐silver assets in mining friendly Alaska, USA Advanced projects in a TIER 1 jurisdiction – early exploration risk has been removed Fully funded for near‐term expansion and longer term discovery growth Drilling and explo
Slide 26: Experienced management team with track-record
Experienced management team with track‐record A Chartered Accountant with over 25 years’ direct experience in developing resource companies. A founding director of Gilt-Edged Mining MARK BOJANJAC Limited which discovered East Kundana, one of Australia’s highest grade gold mines and managing director
Slide 27: Strong institutional support from major international funds
Strong institutional support from major international funds Shares (M) Options (M) Cash (30 Sept) TOTALS 416.2 33.8 $3.4M SHAREHOLDERS: % Lundin Mining Corporation 12.8 TIGHTLY HELD Management/Directors/MRG Team 12.2 JP Morgan (UK) 8.3 Top 20 68% U.S. Global (US) 8.1 Top 40 75% Ruffer Gold Fund (UK)
Slide 28: Cautionary Statements
Cautionary Statements This presentation has been prepared by PolarX Limited (“PolarX”) to assist in informing interested parties about the Company and its progress. It should not be considered as an offer or invitation to subscribe for or purchase any securities in PolarX or as an inducement to make