Union Star Metals Ltd · ASX:USM
Union Star Metals — Investor Presentation (December 2021)
37 slides from Union Star Metals's investor presentation, Dec 13, 2021
Slide 1: Exciting new heavy rare earths discovery in WA
Exciting new heavy rare earths discovery in WA Presented by George Bauk, Executive Director PVW RESOURCES DECEMBER 2021 PVW RESOURCES DECEMBER 2021
Slide 2: Disclaimer
DISCLAIMER PVW Resources ACN 124 541 466 confirms that it is not aware of any new information or data that materially affects the information included in the original market This document is neither a prospectus nor an offer to subscribe announcements and that that all material assumptions and for S
Slide 3: Exploring in Tier 1 jurisdictions
EXPLORING IN TIER 1 JURISDICTIONS 1. Tanami Region Heavy REE province including Northern Minerals 2. Kalgoorlie Region Browns Range REE Project World Class Gold District Established gold province with over 70 million ounces Au including Newmont’s 14 Moz produced including the Super Au Callie Project
Slide 4: Why invest in PVW?
WHY INVEST IN PVW? Exploring Tier 1 mining jurisdictions for REE and Gold in Tanami, Kalgoorlie and Leonora. Exciting heavy REE project with rock chip assays of up to 12.45% TREO in xenotime. Team with significant REE experience including the exploration and development of the Browns Range REE Proje
Slide 5: Corporate overview
CORPORATE OVERVIEW Shares Share Market Cash at bank on issue price capitalisation (30 Sept 2021) 72,585,413 46 cents $33.4m $3.7m ASX:PVW Top shareholders Top 100 own 71.65% JHY Investments 3.57% Lind Partners 5.46% Board 7.41% Jason Peterson 7.46% Other 76.1% 0 20 40 60 80 5 PVW RESOURCES DECEMBER
Slide 6: Board and management
BOARD AND MANAGEMENT DAVID WHEELER GEORGE BAUK COLIN MCCAVANA NON-EXECUTIVE CHAIRMAN EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR • David has more than 30 years of Senior Executive • An experienced executive/director with 30 years in the • Colin has over 40 years’ experience in the mining and Managemen
Slide 7: Tanami Rare Earths
Pargee Sandstone Killi Killi Formation TANAMI RARE EARTHS Australia’s new Heavy Rare Earth province PVW RESOURCES DECEMBER 2021
Slide 8: Rare earths are critical to many industries
RARE EARTHS ARE CRITICAL TO MANY INDUSTRIES • Underpins the best technology for permanent magnets. • Permanent Magnets are a critical component of the EV future. - Permanent Magnet Motors are ~15% more efficient than an induction motor, therefore from a total cost perspective, it is approximately 4
Slide 9: Ensure there is a balanced supply chain globally
ENSURE THERE IS A BALANCED SUPPLY CHAIN GLOBALLY • China’s dominance in supply of Heavy REE is over 99% • Rising geo-political tensions • Green production of Heavy REE — Current production is from Chinese Ionic Clays • Provide confidence of supply to meet the demands set out in the Biden Electrifica
Slide 10: Tanami – emerging heavy rare earths province
TANAMI – EMERGING HEAVY RARE EARTHS PROVINCE • Field programs commenced in August 2021 at Killi Killi and Watts Rise prospects. • Regional potential for hydrothermal unconformity-related rare earth mineralisation along the 18km long Watts Rise- Killi Killi trend. • The contact/unconformity between t
Slide 11: 18km corridor stretches from Killi Killi to Watts Rise
18KM CORRIDOR STRETCHES FROM KILLI KILLI TO WATTS RISE • REE regional exploration program to focus on the area between Watts Rise and Killi Killi East. • Re-processing and interpretation of airborne radiometric and magnetic data reveal potential new REE targets. • Further soil and rock chip assay re
Slide 12: Tanami – Killi Killi East – 2.2km long REE target
TANAMI – KILLI KILLI EAST – 2.2KM LONG REE TARGET WITH UP TO 12.45% TREO Boots on the ground are paying off • Rock chip and soil sampling, ground radiometrics, geological mapping and re- processing of airborne geophysics completed in second half of 2021. • Rock chip assays up to 12.45% TREO with 14
Slide 13: It's xenotime!
IT’S XENOTIME! • Mineralogy study has confirmed heavy rare earths to be related to the rare earth mineral xenotime (similar to Northern Minerals Browns Range project, 80km north). • Heavy rare earths comprise on average 80% of TREO for rock chip samples >1% TREO. • IMO has commenced sighter metallur
Slide 14: Early-stage similarity to Northern Minerals journey
EARLY-STAGE SIMILARITY TO NORTHERN MINERALS JOURNEY, EXPLORATION THE KEY TO UNLOCK VALUE Sighter Rock Chip Mineralogy Met Testwork PVW Samples Dec 2021 commenced Exploration 2022 Oct 2021 Dec 2021 Sighter Maiden Revised Sold First HRE Rock Chip Mineralogy Met Testwork Resource Resource Carbonate fro
Slide 15: Tanami Gold
TANAMI GOLD Underexplored established gold province PVW RESOURCES DECEMBER 2021
Slide 16: Tanami region – underexplored established gold province
TANAMI REGION – UNDEREXPLORED ESTABLISHED GOLD PROVINCE Callie gold deposit, Newmont (Reserve 33.2Mt @ 5.3g/t Au) is an example of potential within the Tanami. It is one of the most productive gold mines in Australia. Discoveries pending • Modern explorers are active within the Tanami. • PVW's tenur
Slide 17: Tanami – poised for a new gold discovery
TANAMI – POISED FOR A NEW GOLD DISCOVERY Limited and ineffective previous exploration • Historic (2010-2012) RC drill intercepts at Watts Rise: – 12m @ 2.94g/t Au from surface – 12m @ 1.50g/t Au from 44m – 16m @ 2.48g/t Au from 60m – 5m @ 6.99g/t Au from surface • Watts Rise - Au intercepts in RC dr
Slide 18: Kalgoorlie
KALGOORLIE New ground, results and targets PVW RESOURCES DECEMBER 2021
Slide 19: Kalgoorlie – world class gold province
KALGOORLIE – WORLD CLASS GOLD PROVINCE Positive Results and Growth. PVW have completed two transactions to increase the tenure by 50% to 150km2 Options - Paddington, Kanowna Belle Operations. Large operations adjacent to PVW tenure offer immediate processing options for new discoveries. Kalgoorlie G
Slide 20: Kalgoorlie – world class gold province
KALGOORLIE – WORLD CLASS GOLD PROVINCE Positive results and growth Kalgoorlie is quickly becoming a priority exploration project for PVW. • King of The West – 4km x 1.5 km +40ppb Au anomaly. Significant anomaly with very minor drill testing. Auger extension to the NW and Aircore drilling required to
Slide 21: Key activities coming up
KEY ACTIVITIES COMING UP PROJECT ACTIVITY WHEN Tanami – REE Geophysical Interpretation of Airborne Surveys over the Tanami Dec / Jan 2022 Tanami – Au Geophysical Interpretation of Airborne Surveys over the Tanami Dec / Jan 2022 Leonora – Au Jungle Well Mineral Resource Estimate Update Jan 2022 Tanam
Slide 22: PVW – positioned for success
PVW – POSITIONED FOR SUCCESS ✓Tanami Heavy REE project has potential to be a company-making globally significant discovery. ✓Board and management team with first- hand experience taking a greenfields REE discovery through to production, ready to do it again, differently. ✓Outstanding strategic land
Slide 23: Thank you
THANK YOU PVW Resources Limited Contacts Level 3, 1138 Hay Street George Bauk West Perth WA, 6005 T: +61 (0)408 931 746 PO Box 300 E: george@totode.com.au West Perth WA, 6872 Karl Weber T: +61 (0)448 845 507 E: karl.weber@pvwresources.com.au pvwresources.com.au
Slide 24: Appendices
APPENDICES 24 PVW RESOURCES DECEMBER 2021
Slide 25: Permanent magnet supply chain
PERMANENT MAGNET SUPPLY CHAIN CHINA DOMINATES Upstream Midstream Downstream Alloy and Component Beneficiation End-use Exploration Mining Cracking Separation Metal making magnet manufacture manufacture manufacture Intermediate Mixed Dy Oxide DyFe Metal Product Carbonate Tb Oxide Tb Metal PVW RESOURCE
Slide 26: Rare earth companies – market capitalisations
RARE EARTH COMPANIES – MARKET CAPITALISATIONS $8.3bn $1.5bn 500.0 450.0 400.0 350.0 300.0 Millions 250.0 200.0 150.0 100.0 50.0 0.0 LYC ASM HAS ARU NTU VML IXR PEK DRE GGG AR3 ARR REE PVW ASX Code Based on Market Capitalisations – 10 Dec 2021 PVW RESOURCES DECEMBER 2021 26
Slide 27: Case study: Chalice Mining
CASE STUDY: CHALICE MINING (ASX:CHN) STARTED WITH A PORTFOLIO OF EXPLORATION ASSETS IN TIER 1 LOCATIONS AND ARE NOW A >A$3BN COMPANY ✓ Exploring for Tier 1 scale discoveries in frontier areas ✓ Tight Capital Structure ✓ Targeting big discoveries in underexplored provinces in Australia ✓ Chalice stra
Slide 28: Case study: Chalice Mining
CASE STUDY: CHALICE MINING (ASX:CHN) JULIMAR WAS A PROJECT IN THE APPENDIX OF THEIR PRESENTATION – DEC 2019 Source:ASX:CHN AGM Address and Presentation (24 November 2021) PVW RESOURCES DECEMBER 2021 28
Slide 29: Kalgoorlie – Pappy prospect exploration
KALGOORLIE – PAPPY PROSPECT EXPLORATION Pappy Prospect • 3.5km strike of anomalous results returned from auger on the northwest trend. • 246ppb Au peak over intersection of two magnetic units and mapped porphyry intrusives, numerous +80ppb Au samples. • Continuation of the Plagioclase/Hornblende Por
Slide 30: Kalgoorlie – Black Flag project advancing
KALGOORLIE – BLACK FLAG PROJECT ADVANCING Black Flag Prospect Aircore confirms bedrock Au anomaly – 21BFAC043, 3m @ 1.84g/t Au, from 45m – 21BFAC031, 4m @ 1.04g/t Au, from 40m – 21BFAC027, 4m @ 1.20g/t Au, from 60m – 21BFAC051, 7m @ 0.88g/t Au, from 43m including 2m @ 1.78g/t Au, from 43m • +1g/t in
Slide 31: Leonora
LEONORA Opportunities to grow and discover PVW RESOURCES DECEMBER 2021
Slide 32: Leonora – world class gold province
LEONORA – WORLD CLASS GOLD PROVINCE Regionally Au production of +15 Moz Three current gold processing operations within 50km of project: Red 5 (ASX:RED) Northern Star Resources (ASX:NST) St Barbara (ASX:SBM) The Leonora region hosts several high-grade gold mines. Drilling results are pending to buil
Slide 33: Leonora – significant upside
LEONORA – SIGNIFICANT UPSIDE Brilliant Well Project, significant upside along underexplored greenstone belt. • Brilliant Well Project – Regional Aircore and targeted RC. Results pending. Jungle Well – continuous tenure over ~15km strike • Jungle Well – open along strike and down dip. • Two kilometre
Slide 34: Leonora – Brilliant Well targets
LEONORA – BRILLIANT WELL TARGETS Brilliant Well – untested tenure over 4km north of Au anomaly Historical drill results: • 12m @ 3.86g/t Au from 84m • 4m @ 1.18g/t Au from 64m • 4m @ 2.14g/t Au from 16m PVW 2019 Aircore results: • 4m @ 4.09g/t Au from 27m • 6m @ 1.96g/t Au from 69m • 2.0m @ 0.68g/t
Slide 35: Jungle Well – resource drilling
JUNGLE WELL – RESOURCE DRILLING Jungle Well Resource – continual improvement • November 2019 Inferred MRE – 26,800oz Au @ 1.1g/t • 2021 RC drilling 33 holes 2,890m – Open along strike. – Open plunge to the north confirmed. – Shallow oxide mineralisation confirmed. – 4m comp results awaited to comple
Slide 36: Jungle Well North – exploration
JUNGLE WELL NORTH – EXPLORATION Jungle Well North – open for interpretation Southern Geoscience Consulting (SGC) have completed the ground MLEM survey north of Jungle Well. Image interpretation underway. Aircore completed to follow up drilling and historical MLEM trends • Target extension of histori
Slide 37: Ballinue – Ni-Cu-PGE project
BALLINUE – NI-CU-PGE PROJECT PVW has made three exploration licence applications in the highly prospective West Yilgarn Ni-Cu-PGE Province. • This area was target following continued success by numerous explorers such as Chalice Mining, Pursuit Minerals, Caspin Resources, Todd River Resources and De
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