Western Mines Group Ltd · ASX:WMG
Western Mines — RIU Resurgence Conference 2022
15 slides from Western Mines's conference presentation, Nov 23, 2022
Slide 1: Exploring a Major Komatiite Nickel System Under Cover
For personal use only WESTERN MINES GROUP EXPLORING A MAJOR KOMATIITE NICKEL SYSTEM UNDER COVER RIU RESURGENCE CONFERENCE 23-24 NOVEMBER 2022 @westernmines westernmines Western Mines Group ASX: WMG www.westernmines.com.au
Slide 2: Disclaimer
DISCLAIMER For personal use only NATURE OF THIS DOCUMENT This presentation has been prepared by Western Mines Group Limited ACN 640 738 834 (Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowle
Slide 3: Company Overview
COMPANY OVERVIEW 10x For personal use only WESTERN MINES GROUP “An exploration driven company • High-impact exploration focused on Ni-Cu-PGE and Au looking to create value through • 8 projects all located in Western Australia discovery” • Multiple “company making” opportunities - 2 current priority
Slide 4: Mulga Tank (Ni-Cu-PGE): World Class Nickel Province
MULGA TANK (Ni-Cu-PGE) For personal use only WORLD CLASS NICKEL PROVINCE • Western Australia’s Yilgarn Craton one of the world’s major nickel provinces • World-class examples of komatiite-hosted nickel deposits – Kambalda (35Mt @ 3.1% Ni), Perseverance (50Mt @ 2.3% Ni) and Mt Keith (643.7Mt @ 0.58%
Slide 5: Belt Scale Opportunity
BELT SCALE OPPORTUNITY For personal use only POTENTIAL MAJOR KOMATIITE NICKEL SYSTEM UNDER COVER • Minigwal Greenstone Belt and Mulga Tank Ultramafic Complex under explored due to ~60m sand cover • Limited diamond drilling has penetrated ultramafic system - nearly all holes show komatiite/dunite hos
Slide 6: Working Nickel Sulphide System
WORKING NICKEL SULPHIDE SYSTEM For personal use only PENTLANDITE EVERYWHERE • Type 1 Perseverance-style massive sulphide potential • Type 2 Mt Keith-style disseminated sulphide potential Images 1.2mm across ASX:WMG Western Mines Group Company Presentation, November 2022 6
Slide 7: Systematic Exploration Approach
SYSTEMATIC EXPLORATION APPROACH For personal use only VECTORING TOWARDS NICKEL MINERALISATION • Exploration team lead by WA nickel expert Dr Ben Grguric • Building a robust exploration model for the discovery of multiple nickel sulphide deposits at Mulga Tank • Combined geophysical, geological and g
Slide 8: Phase 1 Diamond Drilling
PHASE 1 DIAMOND DRILLING For personal use only VISIBLE NICKEL SULPHIDES IN SIX OUT OF TEN HOLES • Phase 1 drilling program April to July 2022 – 10 holes for 3,990m • Tested a range of geological and geophysical targets HoleID Target Description Testing western margin of the intrusion between holes M
Slide 9: Western Margin
WESTERN MARGIN For personal use only REMOBILISED NICKEL SULPHIDE VEINING • Holes MTD012 and MTD013 tested up dip of major W Conductor EM anomaly • Multiple zones of remobilised visible nickel sulphide veins • Hole MTD012: 0.5m at 1.49% Ni, 0.04% Cu and 0.04% Co from 385.8m • Holes MTD013: 1.6m at 0.
Slide 10: Panhandle
PANHANDLE For personal use only KOMATIITE CHANNEL WITH NICKEL SULPHIDES • Panhandle feature interpreted komatiite channel extending NW – Type 1 Kambalda-stye • Historical MTD006: 0.25m at 3.80% Ni, 0.7% Cu and 0.7g/t PGE from 385.8m • Holes MTD016: 0.9m at 1.06% Ni, 0.06% Cu and 0.05g/t Pt+Pd from 2
Slide 11: Mulga Tank Dunite
MULGA TANK DUNITE For personal use only DISSEMINATED SULPHIDES OVER >300M • Hole MTD020 intersected >300m of disseminated magmatic sulphides within high MgO adcumulate-extreme adcumulate dunite • Potential for large-scale Type 2 Mt Keith-style mineralisation ASX:WMG Western Mines Group Company Prese
Slide 12: Chasing Major Deposits
CHASING MAJOR DEPOSITS For personal use only EVIDENCE OF LARGE-SCALE WORKING SYSTEM • Successful EIS award of $220,000 towards two deep diamond holes • Aim to capture complete cross-section of the dunite intrusion • Meso-adcumulate dunite body of comparable size/scale to Perseverance and Mt Keith •
Slide 13: Phase 2 Diamond Drilling
PHASE 2 DIAMOND DRILLING For personal use only FOLLOW-UP PROGRAM COMMENCING THIS WEEK • Phase 2 ~5,000m diamond program • 2 deep EIS holes TYPE 1 MASSIVE SULPHIDE TARGETS • DHEM multiple high conductance offhole anomalies • Remobilised sulphide veins and W Conductor TYPE 2 DISSEMINATED SULPHIDE TARG
Slide 14: Summary
SUMMARY For personal use only EXCITING DISCOVERY OPPORTUNITY • We believe there are multiple nickel deposits to be found at Mulga Tank • We strive to do high-quality technical exploration work • We are frugal with overheads to maximise exploration spend and minimise equity dilution • We want to chan
Slide 15: Directors
DIRECTORS For personal use only Rex Turkington Non-Executive Chairman Capital Markets | Corporate Management Rex is a highly experienced corporate advisor and economist who has worked extensively in the Australian financial services and stockbroking industry, specialising in the natural resources se