Lunnon Metals Limited · ASX:LM8
Lunnon Metals — Corporate Update (December 2022)
18 slides from Lunnon Metals's corporate update, Dec 8, 2022
Slide 1: ASX Announcement: Company Presentation, Baker Nickel Deposit MRE Update
ASX ANNOUNCEMENT ASX: LM8 COMPANY PRESENTATION For personal use only BAKER NICKEL DEPOSIT MINERAL RESOURCE ESTIMATION UPDATE 8 DECEMBER 2022 Lunnon Metals Limited notes that its Managing Director, Mr. Edmund Ainscough, will be presenting to a range of investors and shareholders over the coming week,
Slide 2: Bringing the Best of Kambalda to the Clean Energy Transition
For personal use only Bringing the Best of Kambalda to the Clean Energy Transition Baker Nickel Deposit Mineral Resource Estimation Update Ed Ainscough December 2022 1
Slide 3: Important Notice & Disclaimer
Important Notice & Disclaimer This Presentation has been prepared by employees of Lunnon Metals Ltd (“Lunnon”, “LM8” or “the Company”) on its behalf and is a summary only, and contains summary information about Lunnon and its activities, which is current as at the date of this Presentation (unless o
Slide 4: A Journey... years in the making
A Journey …. 20 years in the making • WMC strategic Kambalda exit For personal use only • Late 1990s/early 2000s sold its nickel mines and gold business • 4 nickel mines, already shut, were “sold with the gold” in 2001 • Missed last nickel price boom, tied up in gold major for over 15 years • World
Slide 5: Unrivalled: Kambalda Nickel District
Unrivalled : Kambalda Nickel District Production^: Pre-WMC sale vs Total Life of Mine Past Nickel Production^ For personal use only to date Shut 4.3% Mine Mt % Ni Ni kt by 4.1% 3.9% 342 Silver 203 Lake 1986 4.5 2.7 123 3.7% 3.5% Fisher 1988 1.7 2.3 38 Ni % 3.3% 101 467 674 3.1% 2.9% Foster 1994 2.4
Slide 6: Successful first months for Lunnon Metals
Successful first 18 months for Lunnon Metals • News flow For personal use only • Completed > 46km of drilling (to 30/11/22) • Generates near weekly updates • Growth by Discovery & Resource Extension • Baker – discovered, reported initial, and now updated Mineral Resource* (MRE), the first deposit di
Slide 7: Foster-Baker Warren
Foster-Baker Warren 211kt @ 3.1% Ni Baker • 23km2 hosting famous (6,400t Ni) 929kt @ 3.3% Ni For personal use only komatiite-basalt Ni contact (30,800t Ni) • 2.6Mt @ 3.1% Ni (79.3kt)* • Baker focus • 15km of RC • 4.4km of DD 85H 687kt @ 2.4% Ni • Foster Mine (16,600t Ni) • Closed in 1996 having 75C
Slide 8: Baker October 2021
Baker October 2021 • WMC (historical) For personal use only • 1970s programme ~ 100m x 100m • Lunnon Metals (post IPO) • 1st pass RC July-October 2021 • Recorded high conductance DHTEM* plate • Indicative of presence of massive Ni sulphides LEGEND – DRILL HISTORY Diamond hole (WMC) 1st pass RC (LM8)
Slide 9: Baker months later December 2022
Baker 14 months later December 2022 November - December 2021 For personal use only • RC (7,000m) and DD (360m) on broad ~40m x 40m pattern June 2022 MRE • 0.57Mt @ 2.8% Ni (15,800t Ni)* April - September 2022 • Infill/extension to ~20m x 20m • RC (8,000m) and DD (4,000m) Geotechnical • Dedicated DD
Slide 10: Baker months later December 2022: MRE
Baker 14 months later December 2022 For personal use only December 2022 MRE • 0.93Mt @ 3.3% Ni (30,800t Ni)* • 64% increase in Ni tonnes, 95% increase in Ni metal • Indicated Resource up nearly threefold from June 2022 • 78% of nickel metal • Grade 3.8% Ni – up 37% March quarter 2023 • Conceptual mi
Slide 11: Baker highlights
Baker highlights Indicated Resource* grades 3.8% Ni, forms 78% of MRE • Key attributes For personal use only • Well drilled • High-grade Indicated • Thick Resource (green) • Shallow (Indicated <200m) • High metal tonnes per vertical metre • Infrastructure • On granted Mining Lease • 300m to open pit
Slide 12: Foster: Permit / Dewater / Re-entry / Drill / Discover
Foster Permit / Dewater/ Re-entry / Drill / Discover • Dewatering For personal use only Foster portal • Licence to take 4.0GL / year 85H Surface covers Foster, Warren and 687kt @ 2.4% Ni Foster shaft Warren (16,600t Nickel) Baker granted ~4,950 m 382,834mE, 6,530,483mN 211kt @ 3.1% Ni • Discharge li
Slide 13: Silver Lake & Fisher
Silver Lake & Fisher Acquired nickel rights over only historical Kambalda mines to have received NO exploration since WMC ownership • Silver Lake For personal use only • Kambalda’s FIRST nickel mine • Produced 123kt nickel metal^ • Between 40-50% of Silver Lake’s production tonnes came from hanging
Slide 14: Corporate Overview
Corporate Overview Liam Twigger Ashley McDonald Corporate structure (ASX: LM8) Non-Executive Chair Non-Executive Director For personal use only Deputy Chair Argonaut, NEC SolGold GFI nominee, Sen Vice President, close on 07 December 2022 experienced M&A, legal, commercial Ian Junk Deborah Lord 195.0
Slide 15: News Flow & Investment Highlights
News Flow & Investment Highlights Growth in forward facing commodity 4 historical Ni mines NEWS FLOW Aggressive drill campaigns, making For personal use only • December 2022 quarter discoveries Silver Lake H/W Exploration Target and plans Increasing mineral resources Final assay results fo
Slide 16: Making our own history, in the heart of Kambalda
Making our own history, in the heart of Kambalda 1960s/70s For personal use only Suite 5/11 Ventnor Avenue West Perth, WA 6005 2022 www.lunnonmetals.com.au info@lunnonmetals.com.au Driller, Jack Lunnon (far right) overlooking Lake Lefroy from north side of Red Hill: with local and WMC dignitaries at
Slide 17: Important Notice and Disclaimer: Competent Persons Statement
Important Notice and Disclaimer Competent Persons Statement The information in this Presentation that relates to geology, nickel and gold mineralisation, Mineral Resources, Exploration Targets and Exploration Results is based on, and fairly represents information For personal use only compiled and r
Slide 18: Important Notice and Disclaimer: Exploration Results Reporting
Important Notice and Disclaimer Exploration Results Reporting For personal use only This presentation contains references to Lunnon's exploration results and previous announcements. The information in this presentation that relates to previous exploration results has been extracted from the followin