Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Africa Down Under 2012
28 slides from Middle Island Resources's conference presentation, Aug 30, 2012
Slide 1: Exploring Golden Frontiers
For personal use only Exploring Golden Frontiers Middle Island Resources Africa Down Under Presentation August 2012
Slide 2: Disclaimer Notice and Competent Persons Statement
Disclaimer Notice and Competent Persons Statement For personal use only Disclaimer Notice The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Middle Island Resources Limited (“MDI”) nor doe
Slide 3: Capital Structure
Capital Structure* ASX Code : MDI For personal use only Shares on Issue 125m Unlisted Options 18.5m Number of Shareholders ~700 Top 20 Shareholders ~63% Directors ~21% Institutions ~30% Newmont ~10% Cash A$11.6m Market Cap (at $0.18) A$22.5m 3
Slide 4: Board & Management Team
Board & Management Team For personal use only Peter Thomas • Recently Retired Solicitor • Corporate and commercial mining industry advice since 1980 • Served on the (Non-Executive boards of various listed companies since the 1980s • Founding Chairman of Sandfire Resources NL • Currently Chairman) Ch
Slide 5: Corporate Strategy
Corporate Strategy For personal use only • Gold. • West Africa. • Exploration & development - best leverage & optimum value. • Build minimum 1.1Moz resource base on at least 1 project. • Leverage off management’s 20 years local experience & contacts. • Jurisdictions with acceptable risk profile. • J
Slide 6: Current Projects
Current Projects For personal use only • 100% of Reo Project •– 100% of Faso Burkina Reo Project – Burkina Fasoin Nuon River Project • 100% (earning 75% in Grand Gedeh •permit) Earning 70% in – Liberia Nassilé Project – Nigerinterest in Kakou permit & • 100% earning 70% & 90% in Nassilé •& Earning 9
Slide 7: Reo Project – Setting
Reo Project – Setting For personal use only • 7 permits covering 1,166 km2 (plus on-going tenure consolidation). • 150km west of Ouagadougou; excellent access and infrastructure. • Poura (1.5Moz) 90km to south, Mana (4Moz) and Houndé (1.5Moz) 100km to southwest, Perkoa immediately adjacent to the so
Slide 8: Reo Project – Airborne Magnetics
Reo Project – Airborne Magnetics For personal use only • High resolution airborne magnetic survey identified 50km long, major shear zone lying along south-eastern margin of project. 8
Slide 9: Reo Project – Geochemical Auger Drilling
Reo Project – Geochemical Auger Drilling For personal use only • 69,528m (9,341 holes) geochemical auger drilling completed. • Designed to identify/refine and prioritise all prospects within Reo Project. • Morley-Goumi, K4/K5, East & Samba areas confirmed as significant targets. 9
Slide 10: Reo Project – Morley-Goumi Prospect
Reo Project – Morley-Goumi Prospect For personal use only • Comprises a series of east-west trending lodes that dip north. • Numerous significant trench & drill results from single (northern) zone tested to date:- - KDTR01 10.6m at 17.4g/t Au (surface) - KRAC011 39m at 2.62g/t Au (9m) - KRAC128 34m
Slide 11: Reo Project – K4/K5 Prospect
Reo Project – K4/K5 Prospect For personal use only • Largest (6km diameter) and highest tenor auger anomaly;10,000 artisanal miners removed June 2011. • More significant intersections to date:– - 18m at 2.51g/t Au (eoh) – (12m) - 13m at 2.23g/t Au (eoh) – (59m) - 4m at 16.2g/t Au - (4m) - 12m at 4.9
Slide 12: Reo Project – Samba Prospect
Reo Project – Samba Prospect For personal use only • New greenfields discovery. • 4km strike length priority auger gold anomaly. • Predicted from airborne magnetic data. • Associated with major shear zone where it deflects around the western margin of Samba Granodiorite. • Hosted by sheared, altered
Slide 13: Nuon River Project - Liberia
Nuon River Project - Liberia For personal use only • Most technically prospective gold terrain in West Africa. • 100% interest in 5 permits & earning initial 75% interest in a sixth permit. • Aggregate semi-contiguous area of 3,005km2. • Located at the boundary between the Archaean & Birimian elemen
Slide 14: Nuon River Project
Nuon River Project For personal use only • Significant alluvial and saprolite artisanal gold mining activity identified at the Barteh Jam, Nico, Middle East and Mambo mining camps. • Barteh Jam & Mambo camps respectively being the 2nd & 3rd largest in Liberia. • Numerous other significant mining cam
Slide 15: Nuon River Project
Nuon River Project For personal use only • BLEG stream sediment sampling completed over whole project area; 8 priority anomalies defined. 15
Slide 16: Nuon River Project
Nuon River Project For personal use only • Airborne magnetic/radiometric survey & targeting study completed over whole project. 16
Slide 17: Nuon River Project
Nuon River Project For personal use only • Airborne geophysical interpretation defines litho-tectonic architecture of project from a gold perspective, an itabirite iron ore occurrence & 51 interpreted kimberlite pipes, the principal source of primary diamonds. 17
Slide 18: Nuon River Project – Barteh Jam Camp
Nuon River Project – Barteh Jam Camp For personal use only • Discovered in 1946, Barteh Jam represents the second largest artisanal gold camp in Liberia. • Big Hill saprolite prospect defined by +3km long, 80-150m wide, open ended zone of abundant artisanal shafts & pits. • Broad, east-west trending
Slide 19: Nuon River Project – Barteh Jam Prospect
Nuon River Project – Barteh Jam Prospect For personal use only • Soil sampling defined cohesive, high tenor, east-west trending gold anomaly over 3.5km strike length. • Initial 35 RC/DD holes (4,027m) completed in 2012. • Nominal 160m x 80m drill pattern over 3km strike length. • Better results rece
Slide 20: Sirba Project (Niger) – Overview
Sirba Project (Niger) – Overview For personal use only • Four permits, collectively 1,682km2 of largely unexplored Birimian greenstones. • Nassilé permit – earned initial 70% interest via expenditure of US$2 million over a 3 year term. • Dogona permit – earning initial 90% interest via staged expend
Slide 21: Nassilé Permit - Niger
Nassilé Permit - Niger For personal use only • High resolution airborne magnetic survey completed. • Defined major northeast trending shear structure. • Structure ‘horse-tails’ into a series a splay structures towards the northeast. • Arcuate granite contact to northwest. • Songonduari auger anomaly
Slide 22: Nassilé Permit - Niger
Nassilé Permit - Niger For personal use only • ~37,000m geochemical auger drilling program completed in 2011 & 2012. • Identified 7km long extension to Songonduari Prospect, 1.2km long extension to Forbemi Prospect & 10km long new Kimba Prospect. • Reconnaissance RC program (168 holes; 12,251m) comp
Slide 23: Nassilé Permit - Niger
Nassilé Permit - Niger For personal use only • Better Songonduari RC results to date: - 12m at 3.08g/t Au (51m) - 6m at 1.98g/t Au (23m) - 3m at 4.90g/t Au (42m) - 15m at 2.24g/t Au (72m) - 4m at 2.24g/t Au (62m) - 2m at 4.31g/t Au (58m) - 2m at 5.45g/t Au (20m) - 6m at 1.91g/t Au (6m) - 2m at 7.60g
Slide 24: Dogona & Boulkagou Permits – Niger
Dogona & Boulkagou Permits – Niger For personal use only • 822.7 km2 of unexplored Birimian greenstones. • Granted July 2011. • Numerous, substantial, untested artisanal mining sites. • New gold rush (7,000 people) to Dogona in January 2011. • No previous exploration completed. • Considerable opport
Slide 25: Dogona & Boulkagou Permits – Niger
Dogona & Boulkagou Permits – Niger For personal use only • Airborne magnetic surveys completed 2011. • Structural interpretation & targeting studies completed. • Mapping completed. • Reconnaissance soil sampling & auger drilling completed (2,455 holes;16,350m); majority of results expected September
Slide 26: Community Development
Community Development For personal use only • Corporate policy to dedicate 5% of annual exploration budget to community development programs. • Essential to build social & political capital from the outset, regardless of project status. • First project completed & officially opened at Reo - potable
Slide 27: Conclusions
Conclusions For personal use only • Emerging, new generation gold company in West Africa. • Clear, simple strategy & systematic technical approach. • Assay backlog resolved by acquiring mobile sample prep lab. • Highly experienced West African team. • Newmont as a major shareholder (10.15%). • Major
Slide 28: Thank you & questions
For personal use only Unit 2, 2 Richardson Street West Perth Western Australia, 6005 Thank you & questions Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au