Maritana Minerals Limited · ASX:MRT
Maritana Minerals — Horizon Minerals — Investor Presentation (May 2021)
31 slides from Maritana Minerals's investor presentation, May 4, 2021
Slide 1: Investor Presentation
Or personal INVESTOR PRESENTATION
Slide 2: Nature of Document and Presentation disclaimer
For personal use only Nature of Document expressions. Forward looking statements, opinions and estimates included in this Presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based This Prese
Slide 3: For personal use only
For personal use only 1. As announced to the ASX on 27 April 2021, see also tables and confirmations on slides 27 and 28 2. As announced to the ASX on 19 January 2021 3
Slide 4: 1. Overview
HORIZON MINERALS 1. OVERVIEW
Slide 5: Share Price History and Capital Structure
For personal use only Share Price History Capital Structure 1 $0.20 6 Shares M 567.9 Millions $0.18 5 Unlisted Options M 24.0 $0.16 $0.14 4 Share price A$ $0.12 $0.12 $0.10 3 Market capitalisation M $68.2 $0.08 2 Cash position + listed investments A$M $18.6 $0.06 $0.04 Debt A$M Nil 1 $0.02 Enterpris
Slide 6: WA goldfields landholding and resources
For personal use only • Large +890 sq km 100% owned land holding in the heart of the WA goldfields covering major regional structures • All tenure in close proximity to all necessary infrastructure and services • +1Moz Au Mineral Resource remains open along strike and at depth1 (72% M&I) • Five key
Slide 7: Strategic objective: Boorara-based development
For personal use only EXPLORATION STRATEGIC OBJECTIVE: BOORARA1 Targeting initial 5-7yr mine life based on a standalone Initial 5-7 year mine Resource 11Mt @ 1.26 g/t Au for 448koz processing solution with Boorara providing base load plan to underpin Mine Open pit / feed supplemented by high Additio
Slide 8: 2. Project Summary
/4oRIZON MINERALS 2. PROJECT SUMMARY
Slide 9: Boorara trial mining and resource
For personal use only • Located 15km east of Kalgoorlie and adjacent to NST’s Super Pit gold operation • Trial mining, toll milling and pit mapping completed to test the grade uplift potential and metallurgical performance ahead of a larger scale development • Mined 267kt at 1.23g/t Au for 10,560oz,
Slide 10: Boorara exploration potential
• Boorara project area has multi-million ounce potential through For personal use only resource extension and new discovery drilling for both further open cut and new underground mine development 1 • Current Boorara Resource limited to 200m depth and 1.5km of strike length for open pit mine developm
Slide 11: Rose Hill
For personal use only • Acquired as part of the asset swap completed with Northern Star in 2019 • Located east of Coolgardie and 45km from potential Boorara mill site • Updated Mineral Resource of 93koz grading 3.65g/t Au comprising: 1 o 290kt grading 2.00g/t Au for 18koz (open cut) o 510kt grading
Slide 12: Binduli / Crake
For personal use only • Located west of Kalgoorlie and 20km from Boorara • Crake Mineral Resource of 74koz grading 1.8g/t Au 1 • Excellent metallurgy with test work recoveries over 95% with a high gravity component 1 • Extensional RC and diamond drilling completed with excellent results at Crake and
Slide 13: Teal
For personal use only • Located 20km north west of Boorara • Mineral Resource of 289,000oz grading 2.1g/t Au 1 • Up to four parallel mineralised structures open along strike and at depth • Successfully mined Teal open cut generating A$7m cash in 2018 (22koz grading 3.2g.t Au and 94% recovery) • Targ
Slide 14: Kalpini
For personal use only • Located 55km northeast of Boorara on granted ML • Acquired in 2020 for A$2.75m in cash • Historic JORC 2004 Mineral Resource of 255,600oz grading 1.7g/t Au 1 • Stage 1 open pit mined at Carmelia in 2019 for 41,000oz from 485kt grading 2.62g.t Au and 95% recovery • Targeting e
Slide 15: Penny's Find
For personal use only • Located 45km northeast of Boorara on granted ML • Acquired 50% in 2021 for A$1.5m in cash from JV partner Orminex Ltd • Historic Mineral Resource of 56,000oz grading 7.04g/t Au 1 • Open pit mined in 2018 for 18,350oz from 140kt grading 4.50g/t Au and 92.4% recovery • RC and d
Slide 16: 3. 2021 Exploration and Resource Drilling
For personal use only /4oRIZON MINERALS 3. 2021 EXPLORATION AND RESOURCE DRILLING 16
Slide 17: 2021 drilling program
For personal use only • Aircore, RC and diamond drilling being conducted across entire asset portfolio in – up to four rigs on site • Exploration program focussed on: 1. Testing new greenfields targets defined at Windanya, Lakewood, Yarmany, Binduli, Kanowna and Balagundi (29,000m) 2. Resource defin
Slide 18: Gemini discovery
For personal use only • Located 50km north of Boorara on the Bardoc Tectonic Zone in between the large-scale Paddington operation and the 3Moz Bardoc project • First pass aircore drilling completed testing multiple high priority targets • Discovery hole at the new Gemini prospect intercepted shallow
Slide 19: Non-core projects and listed investments
For personal use only • Richmond - Julia Creek oxide vanadium project (HRZ 25%) hosts a world class 1.8Bt resource with extensive metallurgical testwork completed 1 • JV partner RVT completed the PFS based on an initial 20 year mine life at Lilyvale with annual production of 12,700t V2O5 at 86% reco
Slide 20: Development timeline
For personal use only PHASE Q4 CY20 Q1 CY21 Q2 CY21 Q3 CY21 Q4 CY21 Q1 CY22 Q2 CY22 Q3 CY22 Q4 CY22 BOORARA STAGE 1 - Mining Complete - Toll milling Complete Drilling program 70,000m drilling program (36,000m completed) Resource updates Rose Hill Boorara Binduli / Teal / Kalpini Penny’s Feasibility
Slide 21: 4. Investment Highlights
4. INVESTMENT HIGHLIGHTS /4oRIZON MINERALS 21
Slide 22: Investment highlights
Exciting exploration potential Highly experienced Board 50,000m CY21 drill program to grow and Management For personal use only resources and make new discoveries Strong technical skills and experience to deliver significant news flow in exploration, mine development, mill construction, operations a
Slide 23: For personal use only
For personal use only 23
Slide 24: Non-core assets
For personal use only Nanadie Well (Cyprium Metals ASX:CYM) Richmond Vanadium Project • Recently divested for $1.5m in cash and shares • 25% JV interest • 45km2 in the Murchison region • Located in North Queensland • Focused on gold, copper, nickel, cobalt and PGE • 1.8Bt resource • PFS completed, D
Slide 25: Boorara Long Section
HIGH GRADE MAIN DOLERITE ZONE AND MULTIPLE HIGH-GRADE FLAT LYING VEIN ARRAYS T 6591500mN. T 370000mE BODHO25 163m @ 4.2: (HORIZON Boorara Long Section Showing Block Model (Search window + 200m) New high grade tion discovered w Crown Jewel at Depth (2017) BORCD179 9m @ 6.70 git Au Incl. 2n BORC202 13
Slide 26: Board and management biographies
For personal use only Ashok Parekh, Non-Executive Chair Grant Haywood, Chief Operating Officer • Chartered accountant with over 40 years’ experience who owns a large Accounting • Mining Engineer with over 27 years’ experience in underground and open cut mining Practice in Kalgoorlie, which he has op
Slide 27: Summary of Gold Mineral Resources
For personal use only Horizon Minerals Limited – Summary of Gold Mineral Resources (at a 1g/t Au cut-off grade) Cut-off M easured Indicated Inferred Total Resource Project grade Au Au Au Au (g/t) Mt Oz Mt Oz Mt Oz Mt Oz (g/t) (g/t) (g/t) (g/t) Boorara OP 0.5 1.28 1.23 50,630 7.19 1.27 294,140 2.56 1
Slide 28: Vanadium resources and confirmation
For personal use only Confirmation Cut-off Tonnage Grade Metal content (Mt) Project The information is this report that relates to Horizon’s Mineral Resources grade % (Mt) % V2O5 ppm Mo ppm Ni V2O5 Mo Ni estimates on the Richmond Julia Creek vanadium project and Nimbus Silver Zinc Project is extract
Slide 29: ASX-listed peer gold developers EV/Resource comparison
For personal use only Comparison of ASX-listed peer gold developers on EV/Resource basis 900 Share Market Cash Debt Resource EV/ Company price Cap EV ($A/m) 800 ($A/m) ($A/m) s (koz) Resource ($A/ps) ($A/m) 700 Horizon Minerals 0.12 61 9.5 0 51.8 1,023 51 600 De Grey Mining 1.44 1,857 103.9 0 1752.8
Slide 30: Forward looking statements
For personal use only • As noted on Slide 2, some statements in this Presentation regarding estimates or future events are forward looking statements. They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward looking statements include, but ar
Slide 31: Contact
For personal use only Jon Price Managing Director T: +61 (08) 9386 9534 E: admin@horizonminerals.com.au W: www.horizonminerals.com.au PO Box 1104 Nedlands WA 6909 163 Stirling Highway Nedlands WA 6009 31