Alpha Exploration Ltd. · TSXV:ALEX
Alpha Exploration — Investor Presentation (October 2023)
27 slides from Alpha Exploration's investor presentation, October 2023
Slide 1: Gold & Copper Discovery: Arabian Nubian Shield
GOLD & COPPER DISCOVERY ARABIAN NUBIAN SHIELD October 2023 TSX-V: ALEX | alpha-exploration.com
Slide 2: Forward Looking Statements
Forward Looking Statements Disclaimer Notice This presentation of Alpha Exploration Limited (“ALEX”) is for information only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell or issue, or subscribe for any securities in any jurisdict
Slide 3: Alpha: Investment Highlights
Alpha: Investment Highlights Unique team: proven track record of discovery + build + sell in Eritrea, the ANS and beyond Exciting, district scale copper, gold and VMS discoveries being rapidly advanced by team STRATEGY ASSETS CATALYSTS Team: Highly regarded industry group Large 771km2 Kerkasha licen
Slide 4: Alpha: Capital Structure
Alpha: Capital Structure Established: 2018, listed on TSX-V on November 1, 2021 Strong insider & institutional support Alpha – 24 Month Share Price TSX-V: ALEX | Share Structure as of September 5, 2023 Shares Outstanding 80,518,353 0.90 Ordinary Shares 65,588,314 Preference Shares 15,286,159 0.80 Sh
Slide 5: Board
Board Michael Hopley Anna Nydegger Chris Van der President & CEO Independent Westhuyzen Non - Executive Director Director >40 years of international experience. Executive & Managing Director of the NWT Group in COO of Hemera Capital Management LLP. 11 Board positions with Gold Fields Mining, Bema Go
Slide 6: Management & advisors
Management & advisors Matthew Grainger Scott McKeag Alasdair Smith VP Business Advanced Projects Co-founder & Technical Development Manager Advisor >25 years’ experience across the junior exploration +30 years’ experience as a Geologist in N America, Middle >30 years’ experience as a geologist in Au
Slide 7: The Last Frontier: Arabian-Nubian Shield
The Last Frontier: Arabian-Nubian Shield “The Cradle of Mining”- the site of some of man's earliest mining activities remains underexplored today • Arabian-Nubian Shield: a new exploration frontier with Tier 1 deposits & large, low cost mines • Highly prospective: multiple, large VMS, orogenic + por
Slide 8: Kerkasha Licence: Location
Kerkasha Licence: Location Excellent infrastructure in an emerging and highly prospective established mining jurisdiction More mines have come on stream in Eritrea in the last 20 years than any other country in the region • Large land package (771 km²) • Located in highly prospective Nakfa Terrain r
Slide 9: Kerkasha License: Exploration Status
Kerkasha License: Exploration Status 20 targets defined to date with 3 significant discoveries by Alpha • 3 significant discoveries made in 3 years: Kosolda Gold Prospect Large Artisanal Workings Aburna Gold Prospect Au in soil 4x 5 km area • Aburna Gold Prospect: 7.2 x 2km soil gold in soil Histori
Slide 10: Aburna Gold Prospect: Overview
Aburna Gold Prospect: Overview Major 7.2km x 2km scale new orogenic gold project discovered Dasharna • 6 projects defined to date over 7.2km strike North East Area 16 m @ 14.07 g/t Au 13 m @ 4.24 g/t Au • Drilling includes multiple large, shallow, high grade intercepts including 16m @ 14.07 g/t Au C
Slide 11: Aburna Gold Prospect: multiple mineralized shears
Aburna Gold Prospect: multiple mineralized shears Vertical + stacked continuity of high grade mineralisation demonstrated Section 2000 15 m @ 5.85 g/t (88 GM) ABD001 & • Drilling has identified multiple, stacked ABR005 ABR018 mineralized lenses ABR039 19 m @ 5.19 g/t (99 GM) • In places, lenses have
Slide 12: Aburna Gold Prospect: priority drill targets
Aburna Gold Prospect: priority drill targets GAIP + ground magnetics survey defines 5km long targets for drilling in Q4 ‘23 & Q1 ’24 Target 1: 2km chargeability target + 400m diameter potential porphyry directly below prior drilling • Extends from colonial gold workings through to existing Hill 52 a
Slide 13: Aburna: Sukari (Centamin) analogue - scale comparison
Aburna: Sukari (Centamin) analogue - scale comparison Outline of entire Centamin’s Sukari resource (11.1 Moz @ 1.08 g/t Au) fits within 1 of 6 targets defined at Aburna Sukari Gold Mine, Egypt Sukari - open pit + underground mine outline 2.7 km Sukari - open pit + underground mine outline 0 km 1 km
Slide 14: Anagulu Gold Copper Prospect: Overview
Anagulu Gold Copper Prospect: Overview Regionally significant, new copper – gold porphyry discovery • AND001: ‘discovery hole’ 49m @ 2.33 g/t Au & Kerkasha Project Kosolda 1.05% Cu from 80m AND005 109 m @ 1.34 g/t Au eq. • >2km strike length of key host unit (quartz eye Tolegimja Aburna diorite) wit
Slide 15: Anagulu Northeast: Major mineralization intersected
Anagulu Northeast: Major mineralization intersected Large intervals of gold-copper mineralization (>0.8 g/t AuEq.) occur over a strike of ~ 400 m Mineralization remains open along strike and to depth Hinge Hinge AND006 Section 38 AND003 AND005 Section 40 Section 42 ANR017 ANR033 ANR029 900 m ANR015
Slide 16: Anagulu discovery relative to recent African discoveries
Anagulu discovery relative to recent African discoveries Discovery intercept of 49 m @ 2.33 g/t Au & 1.05% Cu compares favorably to Africa discoveries in 2018-2020 Anagulu: 49 m @ 2.33 g/t Au & 1.05% Cu (AuEq. x m) in Africa Context Kasombo Kamoa-Kakula Tshukudu (Fe Ltd) Ivanhoe 100 Prieska (Sandfir
Slide 17: Tolegimja Copper-Zinc-Gold Prospect: Overview
Tolegimja Copper-Zinc-Gold Prospect: Overview New, 3km long copper-zinc-gold VMS discovery within interpreted VMS cluster • Bi modal mafic type VMS: gossan + exhalate horizons + alteration • Only 10 holes drilled to date (2,262m) including TLR:009 26m @ 1.67% Zn & 0.38% Cu from 62m depth TLR009: 26
Slide 18: Other Prospects: Kosolda Gold Prospect
Other Prospects: Kosolda Gold Prospect Infill Soil Results Kerkasha Project Tolegimja < 5 ppb Au 5 – 25 ppb Au 25 – 100 ppb Au Aburna • Major 3km x 300m zone of 100 – 250 ppb Au Anagulu artisanal gold workings > 250 ppb Au Kosolda Prospect • 4 targets defined to date over 4km x 5km area from rock ch
Slide 19: Next steps
Next steps • Targeting minimum 10,000m drilling at Aburna in 6 months: fully define key mineralized lenses over minimum 2km strike • Potential for JV partner at Anagulu, target >3,500m at Tolegimja to define gossans + higher grade mineralized lenses • Opportunities under review: additional licence i
Slide 20: Investment Highlights – Why Invest?
Investment Highlights – Why Invest? Led by a team that discovered and/or developed: Multi commodity Au, Cu, Zn Multiple orogenic gold + porphyry gold- Bisha * VMS Cu-Zn-Au Mine, Eritrea 1 Sold 2011: 28Mt @ 1.78 g/t Au, 38.9 g/t Ag, 1.6% Cu, 3.15% Zn copper + VMS prospects defined • John Clarke (Form
Slide 21: Project Gallery
Project Gallery Kerkasha Licence Eritrean field team with Alpha consultant geochemist Core logging - Aburna Trenching programme at Kerkasha Field exploration team - Aburna Trenching – Kerkasha Licence Anagulu – geology draped over 3D topography 21
Slide 22: Contact
Contact Registered Office Eritrea Office Contact Details Alpha Exploration Limited Alpha Exploration Eritrea Limited +44 207 129 1148 Landline (UK) 3rd Floor, Omar Hodge Building Level 6, Room 602 +291 1 111202 Landline (Eritrea) Wickams Cay 1 S.A. Building info@alpha-exploration.com P.O. Box 362 Wa
Slide 23: Appendices
Appendices
Slide 24: Aburna: Systematic Exploration (1): soils + rock chips
Aburna: Systematic Exploration (1): soils + rock chips Initial discovery made in 2020 following systematic prospecting close to historical mine Follow up 100m x 100m soil grid defines major 7.2km x 2km anomaly & 6 primary targets 7 7 100m x 100m soil sampling at Aburna Gold Prospect + follow up tren
Slide 25: Aburna: Systematic Exploration (2): channel + trench = drill
Aburna: Systematic Exploration (2): channel + trench = drill Initial drilling in 2021 & 2022 confirms multiple high grade shear targets North East Area Channel 12: 25m@ 3.71 g/t Au Channel 45: 9m@ 4.01 g/t Au Trench 3: 10m@ 3.28 g/t Au Central Area ABR037: 16m@ 14.07 g/t Au Hill 52 Trench 41: 3m@ 17
Slide 26: Drill hole intercept/Gold Equivalent (AuEq)/Metal Factor methodology
Drill hole intercept/Gold Equivalent (AuEq)/Metal Factor methodology The following methodology and calculations were used to determine the drill hole intercepts and the AuEq & CuEq calculations illustrated within this presentation (slide 13): • *Intercept calculations for RC holes ANR015-030 and DD
Slide 27: Eritrea Mining Act & Alpha Agreement with ENAMCO
Eritrea Mining Act & Alpha Agreement with ENAMCO The agreement between Alpha Exploration and the Eritrean National Mining Corporation (ENAMCO) protects and clarifies Alpha’s interests for all parties… in the case of a discovery. Agreement between Alpha Exploration Eritrea Limited and ENAMCO: ➤ On th
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