Andromeda Metals Limited · ASX:ADN
Andromeda Metals — Investor Presentation (August 2017)
36 slides from Andromeda Metals's investor presentation, Aug 23, 2017
Slide 1: Company Presentation August 2017
For personal use only Company Presentation August 2017
Slide 2: Company snapshot
For personal use only Company snapshot • Listed on ASX in 1996 ASX ticker ADN • A committed and active mineral explorer Ordinary shares on issue 453.2m Listed options 23.6m • Gold and copper commodity focus Share price (at 23‐Aug‐17) A$0.006 • Experienced board with technical and 12 month trading ba
Slide 3: Asset portfolio
For personal use only Asset portfolio Gold • Eyre Peninsula (South Australia) – 200,000 ounce gold resource with development potential and considerable exploration upside • Drummond (Queensland) – drill ready epithermal gold targets in high grade Pajingo district • Coolgardie (Western Australia) – A
Slide 4: Eyre Peninsula gold - SA
For personal use only Eyre Peninsula gold ‐ SA Drill – Discover – Develop 4
Slide 5: Eyre Peninsula gold – 100% owned
For personal use only Eyre Peninsula gold – 100% owned Gold discovery in Central Gawler Gold Province • 200,000 ounce Mineral Resource for 100% owned Wudinna Gold Camp (Barns, Baggy Green, White Tank) announced Jan 2017 • Gold recoveries averaging 97.7% achieved using conventional flowsheet in 2017
Slide 6: Wudinna Gold Camp
For personal use only Wudinna Gold Camp Cluster of JORC gold resources and earlier stage prospects in 6km x 3km camp Drill – Discover – Develop 6
Slide 7: Barns and Baggy Green – 3D resource models
For personal use only Barns and Baggy Green – 3D resource models Shallow dipping deposits located less than 6km apart • Structurally controlled shallow dipping mineralised lodes below flat lying supergene zones • Formed during 1590Ma Hiltaba/GRV tectonothermal event (Olympic Dam age) • Deposit geolo
Slide 8: Wudinna Gold Camp consolidated Classified Mineral Resources
Wudinna Gold Camp consolidated Classified Mineral Resources For personal use only Solid progress made to build 200,000 ounce resource position • Barns Mineral Resource estimate announced July 2016 • Baggy Green and White Tank Mineral Resources announced January 2017 JORC Note: The table above is tak
Slide 9: Excellent metallurgy confirmed
For personal use only Excellent metallurgy confirmed Average gold recoveries of 97.7% achieved using conventional flowsheet • Supergene and primary zone composites from both Barns and Baggy Green tested • Testwork included grind establishment, bottle role, gravity, leach, flotation tests • Gold reco
Slide 10: Deposits open – further resource upside
For personal use only Deposits open – further resource upside Baggy Green resource remains open north of this section! 16m @ 5.72g/t Au 11m @ 9.32g/t Au Baggy Green section 6363140mN Drill – Discover – Develop 10
Slide 11: Additional resource potential is substantial
For personal use only Additional resource potential is substantial Maiden Baggy Green resource is part of a much larger target • The southern target zone is interpreted to have a strike of at least 2000 metres (it remains open to the southwest) • Assuming consistent dip and width of mineralised zone
Slide 12: Wudinna Gold Camp what next?
Wudinna Gold Camp what next? For personal use only Clear programme of work planned to progress and add value comprising • Step out exploration drilling at Baggy Green and other Wudinna Gold Camp targets can further grow the local resource base. • Infill drilling programmes to allow conversion of Min
Slide 13: Drummond epithermal gold - QLD
For personal use only Drummond epithermal gold ‐ QLD Drill – Discover – Develop 13
Slide 14: Drummond epithermal gold – 100% owned
For personal use only Drummond epithermal gold – 100% owned Classic epithermal gold targets in the highly regarded Pajingo region • Targeting high grade gold hosted by epithermal quartz veins (eg >3Moz Pajingo, Yandan and Wirralie) • Historical epithermal style gold prospects confirm presence of min
Slide 15: General model of an epithermal gold system
For personal use only General model of an epithermal gold system Arsenic Zone Gold Zone (At depth below arsenic zone) (After Buchanan (1981), Morrison et al. (1990) and Corbett & Leach (1997)). Drill – Discover – Develop 15
Slide 16: Glenroy Field
For personal use only Glenroy Field Epithermal deposit geology confirmed High grade surface rock chips to 55.4g/t gold confirm bonanza grades are present at Glenroy • Drummond Basin Cycle 1 geology – main epithermal gold host in region • Vein systems with extensive associated epithermal pathfinder m
Slide 17: Bunyip drill target
For personal use only Bunyip drill target Stand‐out target never drilled • Surface rock chips to 19.65g/t gold confirm auriferous system • All required approvals are in place to complete first‐ever drill tests at Bunyip • Over 2,000 metres of quartz veins exposed at surface • Strong associated arsen
Slide 18: Additional drill-ready targets delineated
For personal use only Additional drill‐ready targets delineated Three additional targets also ready for drill testing • Poppi’s Prospect – surface rock chips include 6.04g/t, 4.06g/t, 3.54g/t and 2.70g/t gold. Silver to 22.7g/t present. (Gold zone exposed at surface) • Roo Tail – rock chips include
Slide 19: Drummond Epithermal Gold what next?
Drummond Epithermal Gold what next? For personal use only A high grade drill intersection of Pajingo style could ignite the market • The Bunyip, Poppies, Roo Tail and East Central Limey targets are confirmed as auriferous epithermal systems – all are yet to be drilled • Aboriginal heritage clearance
Slide 20: Coolgardie gold - WA
For personal use only Coolgardie gold ‐ WA Drill – Discover – Develop 20
Slide 21: Coolgardie gold – 100% owned
For personal use only Coolgardie gold – 100% owned Prince of Wales • Tenement granted late December 2016 • Secures sequence of archaean greenstones including mafic and ultramafic lithologies • Prospective for archaean gold (Prince of Wales gold deposit excluded from E15/1520) • Tenement has komatiit
Slide 22: Valiant gold target
For personal use only Valiant gold target Best past drill result Adjacent to Prince of Wales mine 2m @ 180ppb gold Prince of Wales • Soil geochemistry defined gold anomalies (excluded from to EOH in QRAC111 (shown as contours on plan to right) E15/1520) • Tested by aircore drilling (collars shown as
Slide 23: Moonta copper - SA
For personal use only Moonta copper ‐ SA Drill – Discover – Develop 23
Slide 24: Moonta copper project – 100% owned
For personal use only Moonta copper project – 100% owned Famous “Copper Triangle” location at southern end of Olympic IOCG province. • Number of shallow discoveries made by Andromeda Metals • Significant prospects all 100% owned • In‐situ recovery (ISR) potential at Wombat and Alford West (Bruce Zon
Slide 25: Highly mineralised project
For personal use only Highly mineralised project Good grade copper hits at numerous prospects Alford West (Bruce Zone) cross section • 819km2 project securing district with significant past copper production • IOCG deposit style • drill results include: ‐ 20m at 4.20% Cu, 0.27g/t Au (Alford West) ‐
Slide 26: Innovative in-situ copper recovery concept
For personal use only Innovative in‐situ copper recovery concept To work, ISR needs the following • Target metal must be present in a soluble mineral phase • Mineralised zone must be porous and permeable • Mineralisation must not contain non‐target phases which consume leaching agent • Mineralisatio
Slide 27: Wombat and Bruce show ISR potential
For personal use only Wombat and Bruce show ISR potential • Mineralisation at both Wombat and Bruce Photo 1 – impermeable fresh rock contained in deep weathering troughs. • Troughs are below the water table and fresh rock enclosing troughs form aquicludes Photo 2 – weathered, porous, permeable? copp
Slide 28: Large Exploration Target estimated
For personal use only Large Exploration Target estimated 3D models of the Wombat and Bruce weathering troughs allow estimation of resource potential • Andromeda Metals has estimated a combined Exploration Target for the Wombat and Bruce troughs of 80 to 120 million tonnes at a grade ranging between
Slide 29: Moonta ISR summary – South Australia
For personal use only Moonta ISR summary – South Australia Critical ISR requirements • Target metal present as soluble mineral phase • Other leachant consuming phases absent • Mineralised zone is porous • Mineralised zone is permeable ? • Mineralisation is below the water table • Aquicludes
Slide 30: Rover copper gold JV - NT; Thurlga JV - SA
Rover copper gold JV ‐ NT Thurlga JV ‐ SA For personal use only Drill – Discover – Develop 30
Slide 31: Rover copper gold Joint Venture
Rover copper gold Joint Venture (with Emmerson Resources/Evolution Mining) For personal use only Farm‐in and joint venture agreement with ERM announced Nov 2016 Principal terms of the Rover Farm‐in and Joint Venture include • ERM will sole fund $2.0 million within 3 years to earn 51% equity • ERM ca
Slide 32: High grade ironstone hosted deposits
For personal use only High grade ironstone hosted deposits Highly prospective land position in the Tennant Creek district EL 27372 • 287km2 project Andromeda Metals • Typical Tennant Creek style deposits (ironstone hosted – bonanza gold grades) • Prospects include Rover 4, Rover 12 and part of Rover
Slide 33: Thurlga Joint Venture – SA
Thurlga Joint Venture – SA (with Investigator Resources Limited) For personal use only Eyre Peninsula tenement adjacent to IVR’s 33Moz Paris Silver Project • 2017 drilling of silver/base metal anomaly makes serendipitous graphite discovery at Ironstone • Graphite grades at Ironstone are comparable t
Slide 34: Andromeda Metals Summary
For personal use only Andromeda Metals Summary • 200,000 ounce gold Mineral Resource established at Barns, Baggy Green and White Tank (Wudinna Gold Camp) on Eyre Peninsula • Metallurgical testing confirms superb recoveries averaging over 97% using conventional flowsheet • Excellent potential to grow
Slide 35: Disclaimer, Competent Person's statement and JORC statements
Disclaimer, Competent Person’s statement and JORC statements For personal use only Disclaimer The information in this presentation is published to inform you about Andromeda Metals Limited (“Andromeda Metals” or the “Company”) and its activities. Some statements in this presentation regarding estima
Slide 36: Contact
For personal use only Contact: Chris Drown 0427 770 653 www.andromet.com.au
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