Matsa Resources Ltd · ASX:MAT
Matsa Resources — Australian Energy & Minerals Investor Conference 2021
28 slides from Matsa Resources's conference presentation, Mar 18, 2021
Slide 1: Australian Energy & Minerals Investor Conference
Australian Energy & Minerals Investor Conference Brisbane - March 2021 Paul Poli
Slide 2: Disclaimer and Forward Looking Statements
Disclaimer and Forward Looking Statements While the Company has a reasonable basis on which to express these estimates, any This presentation has been prepared by Matsa Resources Limited (“Matsa” or the forward looking statement is subject to risks, uncertainties, assumptions and other “Company”). I
Slide 3: Corporate Overview
Corporate Overview CORPORATE SNAPSHOT TICKER SHARES ON ISSUE UNLISTED OPTIONS MARKET CAPITALISATION CASH AND LIQUIDS ASX:MAT 271.14 77.48M A$24.13M A$5.38M @ $0.17 - $0.35 @ $0.09 (16 Mar 2021) (31 Dec 2020) KEY SHAREHOLDERS (AS AT 5 Mar 2021) MAT: TWELVE MONTH SHAREPRICE JP Morgan Ltd 15.30 % BNP P
Slide 4: New Outlook and New Strategy
New Outlook and New Strategy Building Gold Resources for 600ktpa Plant • Build on existing 515,000oz gold resource • 2 current mining projects in Red October and Fortitude • Rapidly progressing 3rd mining project – Devon • Excellent exploration pipeline with proven high grade potential from recent d
Slide 5: Red October Gold Mine
Red October Gold Mine • Existing resource 173,000oz @ 5.8 g/t Au • Red October is a high-grade structurally controlled narrow vein gold deposit with significant exploration potential • Matsa’s last quarter production of 1,576 oz gold at C1 cash costs of A$1,259 oz and AISC A$2,272 oz sets a good sce
Slide 6: Fortitude Stage 2 - Ready to go
Fortitude Stage 2- Ready to go • Cash surplus of A$55.4M at A$2,500/oz • Expected 22-month mine life Month Surplus and Cash Flow • Fully permitted and ready to go $12,000,000 $60,000,000 • Previous trial mine provides high level of $10,000,000 $50,000,000 confidence • Production of 54,400 oz gold at
Slide 7: Devon - Developing our 3rd mining centre
Devon - Developing our 3rd mining centre • Permitted Mining Lease • 15km to Red October and Fortitude • Devon pit model ready for optimisation • Feasibility study due Q2/3 2021 • Widespread shallow gold anomalism • Untapped potential at depth • Minimal drilling deeper than 200m • Abundance of old wo
Slide 8: Operational Readiness: 2021 – 2022 Work
Operational Readiness: 2021 – 2022 Work • MSO MI&I Resource 173koz - mine designs Red October • Growth in-mine, East & West targets • Modelling recent drilling • Improve final pit mine designs Fortitude • Tendering and contracts • Ore continuity improves with depth • Devon pit model, optimisation, m
Slide 9: Planned Work Schedule
Planned Work Schedule Q1 Q2 Q3 Q4 H1 H2 2023 2021 2021 2021 2021 2022 2022 • RO MSO Mine designs • Drilling Red October • Devon pit model & opti • Red October drilling • Res Def drilling • Gallant model • Devon ext/res drilling • FF trend drilling • BOH regional sampling • Fortitude North drilling •
Slide 10: Lake Carey Gold Resources
Lake Carey Gold Resources T ('000) Au g/t Oz ('000) Fortitude 5,448 2.0 342 Red October 932 5.8 173 Total Resource* 6,380 2.5 515 Significant Resource Growth to be delivered in 2021 • Underpinned by Red October and Fortitude – healthy grades • Modelling Devon (mining studies planned completion Q2 20
Slide 11: Matsa's Exploration Targets
Matsa’s Exploration Targets* EXPLORATION TARGETS* Lower Case Target Upper Case Target EXPLORATION TARGET Tonnes Grade Ounces Gold Tonnes Grade Ounces Gold Red October 900,000 6.9 200,000 1,740,000 6.1 340,000 Devon 1,040,000 3.0 100,000 2,600,000 3.0 250,000 Olympic 180,000 4 20,000 560,000 6 110,00
Slide 12: Matsa's Focus
Matsa’s Focus Olympic & Hill East Devon UG4 prospects4 Devon Fortitude pit3 Stage 21 Proposed Red Matsa Fortitude October2 Processing Nth4 Plant Strategic pathway to production • Underpinned by Red October and Fortitude Stage 2 and developing our 3rd mine at Devon • Strong prospect pipeline building
Slide 13: Roadmap to Continuous Mining
Roadmap to Continuous Mining Fortitude + Discovery Stage 2 Red October + Devon + upgrades 2023 Ready to go LOM planning Modelling Exploring (Gallant, Hill East) MATSA RESOURCES AUSTRALIAN ENERGY & MINERALS INVESTOR CONFERENCE MARCH 2021 13
Slide 14: Exploration and Development Pipeline
Exploration and Development Pipeline • 503km2 high quality historically under explored tenement package • Significant pipeline of 30 exploration projects • Favourable structural settings along major faults • Salt lakes have seen little previous exploration • Matsa’s new discoveries include BE 1, BE
Slide 15: 2021 – 2022 Exploration Planning
2021 – 2022 Exploration Planning Target generation Drill testing Advanced prospects Resource definition Fortitude Fault trend LIN1 Hill East (supergene) Red October Bindah trend Hill East (fresh) Olympic Devon ROSZ trend (N & S) RO East Fortitude North Fortitude Jubilee trend RO West Costello Gallan
Slide 16: Devon Pit
Devon Pit Granted mining lease, progressing to feasibility study • Resource modelling and optimisations expected soon • Mining studies underway and expected Q2 MATSA RESOURCES AUSTRALIAN ENERGY & MINERALS INVESTOR CONFERENCE MARCH 2021 16
Slide 17: Devon SAM
Devon SAM • 38 strong Sub-audio magnetic (SAM) anomalies identified immediately south of Devon pit • 3 walk up drill targets supported by anomalous geophysics and geochemistry LIN1, MMC HE1, MMC HE5 – drilling being organised as we speak, results expected soon MATSA RESOURCES AUSTRALIAN ENERGY & MIN
Slide 18: LIN 1 - Newly Discovered Target
LIN 1- Newly Discovered Target • LIN1 – A strong 1.1km coincident Au, As, Te, TFEM anomaly • Limited historical drilling with healthy grades (1m @ 4.35g/t and 1m @ 3.04g/t) drilled in wrong direction! As Te TFEM (SAM) MATSA RESOURCES AUSTRALIAN ENERGY & MINERALS INVESTOR CONFERENCE MARCH 2021 18
Slide 19: Hill East
Hill East • Large gold soil anomaly >1km • Open along strike and at depth • Numerous high grade old workings • Drilling being organised as we speak • Shallow drilling to date, only 2 holes deeper than 101m • Highlight drill results include: 5m @ 4.01 g/t Au from 6m 9m @ 3.04 g/t Au from surface 6m @
Slide 20: Fortitude North a Matsa Discovery
Fortitude North a Matsa Discovery • Recent newly discovered 1,500m long gold anomaly • ~7km north of Fortitude Gold Mine 47m @ 2.55 g/t Au incl 5m @ 17 g/t Au (18AC071) 26m @ 1.95 g/t Au incl 5m @ 5.14 g/t Au (18AC036) 10.3m @ 3.48 g/t Au (20FNDD004) • 7 out of 8 holes over northern 800m returned si
Slide 21: Red October Exploration Targets
Red October Exploration Targets Nemos Lion Costello Bruce Fish Splay / Anchor Marlin 410 MATSA RESOURCES AUSTRALIAN ENERGY & MINERALS INVESTOR CONFERENCE MARCH 2021 21
Slide 22: Red October - Revised Outlook
Red October - Revised Outlook • 173koz Au in Measured, Indicated & Inferred* • Strong exploration and mining potential demonstrated in MSO • Numerous in-mine and brownfields exploration targets *As of 31 Dec 2020 MATSA RESOURCES AUSTRALIAN ENERGY & MINERALS INVESTOR CONFERENCE MARCH 2021 22
Slide 23: Why Pits but only Underground Mine
2 Pits but only 1 Underground Mine Why ?? • Accepted model – palaeochannel gold as seen at Sunrise Dam, Wallaby MATSA RESOURCES AUSTRALIAN ENERGY & MINERALS INVESTOR CONFERENCE MARCH 2021 23
Slide 24: Successful Seismic Survey - March 2020
Successful Seismic Survey - March 2020 Strong structures in seismic which line-up with Marlin and Rosz ROSZ Looking south west Marlin Strong western structure Curtin University – Distributed Acoustic Sensing (DAS) technology under MERIWA research program, MINEX CRC MATSA RESOURCES AUSTRALIAN ENERGY
Slide 25: Red October - 2D Seismic Section
Red October - 2D Seismic Section Centre structures line up with ROSZ, strong evidence of 2 new targets Western target ROSZ Eastern target Marlin Seismic line MATSA RESOURCES AUSTRALIAN ENERGY & MINERALS INVESTOR CONFERENCE MARCH 2021 25
Slide 26: Two 'NEW' Large Footprint Exploration Targets
Two ‘NEW’ Large Footprint Exploration Targets Looking grid North • Co-incident seismic and SAM (Sub-audio magnetic) anomalies • Limited previous drilling consists of only 2 holes + 3 wedges, which pin these ‘new’ structures at depth and show strong alteration assemblages (quartz/carbonate/sericite)
Slide 27: Success in Exploration Will Deliver Shareholder Value
Success in Exploration Will Deliver Shareholder Value • Focus and commitment to transform Matsa to mid tier gold producer • Experienced Board and Mining/Exploration team • Two existing mining centres (RO & Fortitude) with 3rd developing (Devon) on granted MLs • 600,000tpa mill strategy in place • Ac
Slide 28: Contact
CONTACT Paul Poli Executive Chairman Suite 11, 139 Newcastle Street Perth, Western Australia 6000 +61 8 9230 3555 reception@matsa.com.au MATSA RESOURCES AUSTRALIAN ENERGY & MINERALS INVESTOR CONFERENCE MARCH 2021 28
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