Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Investor Presentation (June 2011)
31 slides from Middle Island Resources's investor presentation, Jun 7, 2011
Slide 1: Exploring Golden Frontiers
For personal use only Exploring Golden Frontiers Middle Island Resources June 2011
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 99.9m Unlisted Options 16.2m Number of Shareholders 807 Top 20 Shareholders 60% Directors ~26% Institutions ~18% Newmont ~10% Cash $10.3m Market Cap at $0.35 ~$35m 3
Slide 4: Board & Management Team
Board & Management Team For personal use only Peter Thomas • Practicing Solicitor • Corporate and commercial mining industry advice since 1980 • Served on the boards of (Non-Executive various listed companies since the 1980s • Founding Chairman of Sandfire Resources NL • Currently Chairman Chairman)
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 within 2 years on at least 1 project. • Leverage off management’s 20 years local experience & contacts. • Jurisdictions with acceptable ri
Slide 6: Current Projects
For personal use only Current Projects 6
Slide 7: Current Projects
Current Projects For personal use only • 100% of Reo Project Project – Burkina – Burkina Faso Faso • Earning 70% in Nassilé Project • Earning – Niger70% in Nassilé Project – • Niger Earning 90% in Dogona Project – Niger • Earning 90% in • Dogona Project – in Nuon River Project Earning 75%/100% Niger
Slide 8: Reo Project – Geology
Reo Project – Geology For personal use only • 100% interest in 7 permits covering 1,166 km2 (plus on-going tenure consolidation). • Area originally selected from Newmont cratonic study. • Straddles structurally complex junction of the Boromo & Houndé greenstone belts where thrusted against the centr
Slide 9: Reo Project – Geochemistry
Reo Project – Geochemistry For personal use only MORLEY 9
Slide 10: Reo Project – Airborne Magnetics
Reo Project – Airborne Magnetics For personal use only 10
Slide 11: Reo Project – Morley Prospect
Reo Project – Morley Prospect For personal use only • 3.25km x 0.8km soil anomaly to 500ppb Au. • No geology exposed – largely veneered by transposed to transported soils and laterite. • Appear to comprise a series of broad (10-15m wide), stacked, east-west trending zones (100- 150m apart) that dip
Slide 12: Reo Project – Morley Prospect
Reo Project – Morley Prospect For personal use only • ~800m trenching program in progress over 900m S/L. • Significant MDI trench results to date:- - MRTR001 11m at 7.97g/t Au (including 4m at 20.2g/t Au) - MRTR002 6m at 3.88g/t Au - MRTR003 9m at 2.19g/t Au - MRTR004 4m at 4.25g/t Au - MRTR005 12m
Slide 13: Reo Project – Morley Prospect
Reo Project – Morley Prospect For personal use only 13
Slide 14: Reo Project – K4/K5 Prospect
Reo Project – K4/K5 Prospect For personal use only • Cohesive 4km x 2.5km soil anomaly with peak values >1,000ppb Au. • No geology exposed, but veneered by residual soils & laterite. • Only tested by shallow, sparse Newmont aircore drilling (400m x 50-100m). • Most significant intersection – NAC027
Slide 15: Reo Project – K4/K5 Prospect
Reo Project – K4/K5 Prospect For personal use only • Artisanal gold rush to K4/K5 Prospect in June 2010. • 10,000 illegal miners present in February 2011. • Working predominantly residual laterite over an area 2km by 1km. • Artisanal workings recently closed by Government. • Clearly demonstrates pot
Slide 16: Reo Project – Geochemical Auger Drilling
Reo Project – Geochemical Auger Drilling For personal use only • 40,000m regional geochemical auger drilling program to identify and prioritise all prospects within Reo Project. • Targeting study completed on basis of airborne geophysical survey & interpretation provides the basis for this work. • P
Slide 17: Reo Project – Strategy
Reo Project – Strategy For personal use only Stage 1 (2010/2011) Stage 2 (2011/2012) • High resolution airborne magnetics & radiometrics • Follow-up aircore drilling at Reo & K4/5 (October (completed). 2011). • Trenching and RC drilling to confirm mineralised • Pattern RC/DC drilling at Morley & K4/
Slide 18: Niger Projects – Overview
Niger Projects – Overview For personal use only 18
Slide 19: Nassilé Project – Niger
Nassilé Project – Niger For personal use only • Earning 70% interest in the granted Nassilé Project from Island Arc Exploration Corp & Cassidy Gold Corp. • Staged expenditure of US$2 million over a 3 year term. • Minimum expenditure of US$250,000 met. • Granted tenure over 576.7km2. • Substantial ar
Slide 20: Nassilé Project – Exploration Summary
Nassilé Project – Exploration Summary For personal use only • Ashanti Goldfields (AngloGold Ashanti) explored Nassilé in late 1990’s. • Island Arc identified & partially tested 8 prospects. • RAB drilling at Koutougou Prospect:- – NRB202 -12m at 2.09g/t Au • RC Drilling at Songonduari Prospect:- - N
Slide 21: Nassilé Project – Exploration Summary
Nassilé Project – Exploration Summary For personal use only • High resolution airborne magnetic survey imminent. • ~25,000m geochemical auger drilling program nearing completion. • Initial 400m x 100m pattern • Infill on 200m x 50m pattern. • Identified 7km long, high tenor gold anomaly extending fr
Slide 22: Dogona Project – Niger
Dogona Project – Niger For personal use only • Earning 90% interest in the Boulkagou & Dogona applications from Cassidy Gold Corp (when issued - June 2011). • Staged expenditure of US$1.0 million over a 2 year term from grant. • Applications (2 permits) collectively covering 822.7 km2. • Substantial
Slide 23: Dogona Project – Exploration Summary
Dogona Project – Exploration Summary For personal use only Dogona Application • Panbugue Prospect identified over 1km strike of artisanal hard rock & eluvial laterite mining. • Gold rush to new prospect in January 2011. Boulkagou Application • Previously held by Golden Star Resources. • <10km along
Slide 24: Nassilé/Dogona – Strategy
Nassilé/Dogona – Strategy For personal use only • Airborne magnetics & radiometrics (commencing June 2011). • Geochemical auger drilling over priority corridors (Nassile completed; Dogona November 2011). • Infill auger geochemical drilling (Nassile nearing completion; Dogona February 2012). • RAB dr
Slide 25: Nuon River Project - Liberia
Nuon River Project - Liberia For personal use only 25
Slide 26: Nuon River Project - Liberia
Nuon River Project - Liberia For personal use only • Represents a long-held objective to secure a major land package in the most prospective emerging gold frontier of West Africa. • Earning 75% initial interest in Grand Gedeh permit from Superior Mineral Resources Inc. • US$100,000 cash payment and
Slide 27: Nuon River Project – Grand Gedeh Permit
Nuon River Project – Grand Gedeh Permit For personal use only • Numerous significant stream sediment anomalies identified throughout permit. • Significant alluvial and saprolite artisanal gold mining activity, particularly at the Bateajam mining centre, readily accessible by road. • Big Hill Prospec
Slide 28: Nuon River Project – Strategy
Nuon River Project – Strategy For personal use only Stage 1 (2010/2011) Stage 2 (2011/2012) • Stream sediment geochemistry – all permits (June • Infill stream sediment geochemistry (November – October 2011). 2011). • Soil geochemistry – Bateajam area • Soil geochemistry – new targets (January 2012).
Slide 29: Medium Term Corporate Strategies
Medium Term Corporate Strategies For personal use only • Identify maiden resource at Reo Project. • Identify and prioritise all significant prospects at Reo, Nassilé, Dogona & Nuon River projects. • Consolidate Burkina Faso, Niger & Liberia strategies. • Identify & assess additional project opportun
Slide 30: Conclusions
Conclusions For personal use only • Early, well-priced entry into gold in West Africa. • Highly experienced West African team. • Newmont as a major shareholder. • Major international funds well represented on register. • Quality existing projects. • $10.3 million cash. • ~$2 million quarterly explor
Slide 31: Thank you
For personal use only Unit 2, 2 Richardson Street West Perth Western Australia, 6005 Thank you Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au
Middle Island Resources — Investor Presentation (June 2011) on 6ix