Andromeda Metals Limited · ASX:ADN
Andromeda Metals — Adelaide Resources — SA Mining and Exploration Conference 2016
23 slides from Andromeda Metals's conference presentation, Dec 2, 2016
Slide 1: Development potential of the Barns/Baggy Green gold camp
adelaideresources.com.au For personal use only Development potential of the Barns/Baggy Green gold camp 2 December 2016 Drill – Discover – Develop
Slide 2: Eyre Peninsula gold
adelaideresources.com.au Eyre Peninsula gold Large project in Central Gawler Gold Province For personal use only • Substantial 2,807km2 project • Barns Camp gold deposits (Barns, Baggy Green, White Tank) all 100% owned • Deposits found in early 2000’s by testing calcrete gold geochemical anomalies D
Slide 3: What has changed to make us focus on these deposits again?
adelaideresources.com.au What has changed to make us focus on these deposits again? For personal use only Baggy Green discovery White Tank discovery Barns discovery Drill – Discover – Develop 3
Slide 4: Central Gawler Gold Province
adelaideresources.com.au Central Gawler Gold Province For personal use only Tarcoola ADN Tenement Proterozoic Gold Arc Tunkillia Proterozoic mineral Nuckulla Hill occurrence Stuart Shelf Paris Weednanna Hiltaba Suite Granites Barns & Gawler Range Volcanics Baggy Green 100 KM Drill – Discover – Devel
Slide 5: Barns calcrete gold geochemistry
adelaideresources.com.au Barns calcrete gold geochemistry Discovery in 2000 a result of applying (what was then) a new exploration tool For personal use only 50ppb Au 20 10 5 2.5 4 km 1000 M Drill – Discover – Develop 5
Slide 6: Barns gold prospect cross section
adelaideresources.com.au Barns gold prospect cross section Multiple moderately dipping lodes beneath flat lying supergene zone For personal use only • Drill hits include: 5m @ 27.4g/t gold 11m @ 2.84g/t gold 13m @ 4.04g/t gold 13m @ 3.06g/t gold • Multiple stacked lodes separated by low grade or bar
Slide 7: Barns – 3-D resource deposit model
adelaideresources.com.au Barns – 3‐D resource deposit model Detailed deposit modelling completed in Q1 2016 For personal use only Barns mineralisation model looking NE. Intersecting drill holes shown as pins. Drill – Discover – Develop 7
Slide 8: Barns – assessment done May 2016
adelaideresources.com.au Barns – assessment done May 2016 For personal use only • Deposit model assessed by Independent resources industry experts Mining Plus Pty Ltd and Maptek Pty Ltd who then respectively analysed and reviewed the results of the modelling and of each other’s work. • The results o
Slide 9: 1. Estimate a JORC Mineral Resource for Barns
adelaideresources.com.au 1. Estimate a JORC Mineral Resource for Barns 107,000 ounce maiden For personal use only Mineral Resource announced July 2016 • Mining Plus Pty Ltd and Adelaide Resources Ltd jointly responsible for resource estimate (1) Full JORC 2012 compliance information was disclosed up
Slide 10: 2. Metallurgical assessment of Barns mineralisation
adelaideresources.com.au 2. Metallurgical assessment of Barns mineralisation Goal is to determine gold recoveries and inform flow sheet design For personal use only • We don’t anticipate any negative metallurgical issues • Native gold is present (generally as 20‐200um grains) • Simple mineralogy (py
Slide 11: 3. Find more shallow ounces at Barns or nearby
adelaideresources.com.au 3. Find more shallow ounces at Barns or nearby Additional shallow resources in the Barns Camp would improve project robustness For personal use only • Past drilling has discovered other prospects that can build local resource base • Baggy Green assessed as a good opportunity
Slide 12: Baggy Green prospect history
adelaideresources.com.au Baggy Green prospect history Located <6km from Barns For personal use only • Originally indicated as 3km long gold anomaly in regional calcrete geochemical survey • Aircore drilling defined coherent zones of gold mineralisation in saprolite • Potentially economic grade and w
Slide 13: Baggy Green – cross section through southern target zone
adelaideresources.com.au Baggy Green – cross section through southern target zone Principal mineralised shear structure is well defined For personal use only • Average true width of primary zone is 27 metres • Gentle dip – 450m west of eastern limit, the gold zone is still <200m below surface • High
Slide 14: Baggy Green – recent RC programme
adelaideresources.com.au Baggy Green – recent RC programme Recent drilling programme completed For personal use only • Results include the two best intersections achieved to date at Baggy Green • Down‐dip and along strike continuity of mineralised zone confirmed Drill – Discover – Develop 14
Slide 15: Baggy Green – plan projection of area now drilled in detail
adelaideresources.com.au Baggy Green – plan projection of area now drilled in detail For personal use only Detailed drill coverage over 500m x 250m zone • Most intersections commence <100m below surface ? (shallow ounces) ? • Variable grade in plane of mineralised structure (high grade shoots) • Min
Slide 16: Baggy Green – preliminary 3-D model
adelaideresources.com.au Baggy Green – preliminary 3‐D model Recent RC programme confirms Baggy Green can materially add to local resource base For personal use only • Model boundaries using nominal 0.5g/t gold cut‐off (Barns used same cut‐off) • Preliminary model volume is > 1 million m3 (cf. Barns
Slide 17: Economic impact of a shallow dipping mineralised zone
adelaideresources.com.au Economic impact of a shallow dipping mineralised zone For personal use only Assume ― mineralised body is 30m wide x 300m down‐dip ― 40 metres of depleted cover above mineralised body ― 45° pit wall angle (or footwall dip if <45°) Vertical dipping body 20° dipping body Waste
Slide 18: Baggy Green – potential for much bigger target
adelaideresources.com.au Baggy Green – potential for much bigger target For personal use only Area of detailed drilling is part of a much larger potential target. • The southern zone is interpreted to have a strike of 2000 metres and remains open to the SW • Assuming consistent dip and width, to 200
Slide 19: Barns/Baggy Green pros and cons
adelaideresources.com.au Barns/Baggy Green pros and cons Pros For personal use only • Coherent zones of relatively shallow mineralisation • Excellent opportunity to grow camp resource base and improve economics ― Barns and Baggy Green remain open. Other satellite targets identified • Gentle dips (pa
Slide 20: Barns – comparison with other SA gold projects
adelaideresources.com.au Barns – comparison with other SA gold projects For personal use only Portia(1) Tarcoola(2) Barns(3) Company Havilah Resources (HAV) WPG Resources (WPG) Adelaide Resources (ADN) Resource 720Kt @ 2.90g/t Au 973Kt @ 3.12g/t Au 2,100Kt @ 1.60g/t Au Resource Ounces 67,000 97,500
Slide 21: Andromeda Metals
adelaideresources.com.au Andromeda Metals • Adelaide Resources has completed its 20th year listed on ASX For personal use only • The Board composition and exploration portfolio of the company has changed considerably since listing • We are taking the opportunity to rebrand ourselves to reflect these
Slide 22: Disclaimer, Competent Person's statement and JORC statements
adelaideresources.com.au Disclaimer, Competent Person’s statement and JORC statements Disclaimer For personal use only The information in this presentation is published to inform you about Adelaide Resources Limited (“Adelaide Resources” or the “Company”) and its activities. Some statements in this
Slide 23: Thank you
adelaideresources.com.au For personal use only THANK YOU Contact: Chris Drown 0427 770 653 adelaideresources.com.au Drill – Discover – Develop
Adelaide Resources — SA Mining and Exploration Conference 2016 on 6ix