Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Resources Round-up, Sydney (May 2012)
29 slides from Middle Island Resources's conference presentation, May 8, 2012
Slide 1: Exploring Golden Frontiers
For personal use only Exploring Golden Frontiers Middle Island Resources Resources Round-up Presentation Sydney - May 2012
Slide 2: Disclaimer Notice and Competent Persons Statement
Disclaimer Notice and Competent Persons Statement For personal use only Disclaimer Notice The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Middle Island Resources Limited (“MDI”) nor doe
Slide 3: Capital Structure
Capital Structure* ASX Code : MDI For personal use only Shares on Issue 125m Unlisted Options 18.5m Number of Shareholders ~700 Top 20 Shareholders ~66% Directors ~21% Institutions ~30% Newmont ~10% Cash A$14.2m Market Cap (at $0.32) A$40m 3
Slide 4: Board & Management Team
Board & Management Team For personal use only Peter Thomas • Recently Retired Solicitor • Corporate and commercial mining industry advice since 1980 • Served on the (Non-Executive boards of various listed companies since the 1980s • Founding Chairman of Sandfire Resources NL • Currently Chairman) Ch
Slide 5: Corporate Strategy
Corporate Strategy For personal use only • Gold. • West Africa. • Exploration & development - best leverage & optimum value. • Build minimum 1.1Moz resource base within 2 years on at least 1 project. • Leverage off management’s 20 years local experience & contacts. • Jurisdictions with acceptable ri
Slide 6: Current Projects
Current Projects For personal use only • 100% of Reo Project •– 100% of Faso Burkina Reo Project – Burkina Fasoin Nuon River Project • 100% (earning 75% in Grand Gedeh •permit) Earning 70% in – Liberia Nassilé Project – Niger 70% in Nassilé Project • Earning – Niger • Earning 90% in Dogona90% • Earn
Slide 7: Reo Project – Setting
Reo Project – Setting For personal use only • 7 permits covering 1,166 km2 (plus on-going tenure consolidation). • 150km west of Ouagadougou; excellent access and infrastructure. • Poura (1.5Moz) 90km to south, Mana (3Moz) 100km to southwest, Perkoa immediately adjacent to the southeast. • Area orig
Slide 8: Reo Project – Airborne Magnetics
Reo Project – Airborne Magnetics For personal use only 8
Slide 9: Reo Project – Morley Prospect
Reo Project – Morley Prospect For personal use only • Comprises a series of broad (6-12m wide), stacked, east-west trending lodes that dip north and have a 200-300m strike length. • Numerous significant trench & drill results from single (northern) zone tested to date:- - KDTR01 10.6m at 17.4g/t Au
Slide 10: Reo Project – K4/K5 Prospect
Reo Project – K4/K5 Prospect For personal use only • Largest and highest tenor soil and auger anomaly, veneered by transposed laterite. • Authorities removed 10,000 artisanal laterite miners in June 2011. • More significant early drill intersections:– - 18m at 2.51g/t Au (eoh) – (12m) - 13m at 2.23g
Slide 11: Reo Project – Regional Exploration
Reo Project – Regional Exploration For personal use only • 64,400m geochemical auger drilling (8,725 holes) completed. • Single rig completing final infill work. • Designed to identify/refine and prioritise all prospects within Reo Project. • Density based on airborne geophysical survey & subsequent
Slide 12: Reo Project – Geochemical Auger Drilling
Reo Project – Geochemical Auger Drilling For personal use only • Morley & K4/K5 areas confirmed as significant targets. • New Samba anomaly identified in northeast. • Designed to refine targets for cost-effective RAB/RC drilling. 12
Slide 13: Reo Project – RAB Drilling
Reo Project – RAB Drilling For personal use only • RAB: 21,000m (450 holes) completed to date; only 26% of assays returned. • Morley/Goumi drilling completed; 8m at 2.25g/t Au. • Now drilling K4/K5 target area; promising geology but limited assays: 20m at 1.73g/t 12m at 1.06g/t 4m at 8.54g/t 4m at 3
Slide 14: Nuon River Project - Liberia
Nuon River Project - Liberia For personal use only • Most technically prospective gold terrain in West Africa. • 100% interest in 5 permits & earning initial 75% interest in a sixth permit. • Aggregate semi-contiguous area of 3,005km2. • Located at the boundary between the Archaean & Birimian compon
Slide 15: Nuon River Project
Nuon River Project For personal use only • Significant alluvial and saprolite artisanal gold mining activity identified at the Barteh Jam, Nico, Middle East and Mambo mining camps. • Barteh Jam & Mambo camps respectively being the 2nd & 3rd largest in Liberia. • Numerous other significant mining cam
Slide 16: Nuon River Project
Nuon River Project For personal use only • BLEG stream sediment sampling completed over whole Nuon River Project; results pending. 16
Slide 17: Nuon River Project
Nuon River Project For personal use only • Airborne magnetic and radiometric survey completed over whole project; structural interpretation & targeting studies imminent. 17
Slide 18: Nuon River Project – Barteh Jam Camp
Nuon River Project – Barteh Jam Camp For personal use only • Discovered in 1946, Barteh Jam represents the second largest artisanal gold camp in Liberia. • Big Hill saprolite prospect defined by +3km long, 80-150m wide, open ended zone of abundant artisanal shafts & pits. • Target recently confirmed
Slide 19: Nuon River Project – Barteh Jam Prospect
Nuon River Project – Barteh Jam Prospect For personal use only • Abundant visible free gold in quartz veins. • Consistently 200-300 gold grains in every pan. • Drill access and site preparation completed. • Initial 5,000m RC/DD drilling campaign in progress. • Completed 1,580m (35 holes); initial re
Slide 20: Niger Projects – Overview
Niger Projects – Overview For personal use only • Nassilé - earning initial 70% interest via staged expenditure of US$2 million over a 3 year term. • Dogona – earning initial 90% interest via staged expenditure of US$1 million over a 2 year term. • Collectively 1,400km2 of largely unexplored Birimia
Slide 21: Nassilé Project - Niger
Nassilé Project - Niger For personal use only • Historic RAB & RC drilling at Koutougou & Songonduari prospects:- - 12m at 2.09g/t Au - 12m at 3.08g/t Au (51m) - 6m at 1.98g/t Au (23m) - 3m at 4.90g/t Au (42m) - 15m at 2.24g/t Au (72m) • ~25,000m geochemical auger drilling program completed 2011. •
Slide 22: Nassilé Project - Niger
Nassilé Project - Niger For personal use only • Reconnaissance RC program recently completed. • 12,251m (168 holes). • Assays received for initial 43 holes only. • Better results to date: - 4m at 2.24g/t Au - 2m at 4.31g/t Au - 2m at 5.45g/t Au 22
Slide 23: Nassilé Project - Niger
Nassilé Project - Niger For personal use only • High resolution airborne magnetic survey completed. • Defines major northeast trending shear structure. • Structure ‘horse-tails’ into a series a splay structures towards the north. • Songonduari auger anomaly lies west of, but parallel to, main shear
Slide 24: Nassilé Project - Niger
Nassilé Project - Niger For personal use only • Existing auger coverage recently extended to test major structural elements. • Auger drilling; 12, 251m (168 holes) completed. • All results pending. • Potential to identify additional targets. • Also useful to logically rationalise tenure for 50% stat
Slide 25: Dogona Project – Niger
Dogona Project – Niger For personal use only • 822.7 km2 of unexplored Birimian greenstones. • Granted July 2011. • Numerous, substantial, untested artisanal mining sites. • New gold rush (7,000 people) to Dogona in January 2011. • Considerable opportunity for significant ‘greenfields’ discoveries.
Slide 26: Dogona Project – Niger
Dogona Project – Niger For personal use only • Airborne magnetic surveys completed. • Structural interpretation & targeting studies completed. • Mapping completed. • Geochemical auger drilling program to assess priority corridors commenced in April 2012. 26
Slide 27: Community Development
Community Development For personal use only • Corporate policy to dedicate 5% of annual exploration budget to community development programs. • Essential to build social & political capital from the outset, regardless of project status. • First project completed & officially opened at Reo - potable
Slide 28: Conclusions
Conclusions For personal use only • Emerging, new generation gold company in West Africa. • Clear, simple strategy & systematic technical approach. • Objective to define stand alone resource by December 2012. • Assay turnaround main impediment; backlog of 4,171 holes (14,565 samples). • Highly exper
Slide 29: Thank you & questions
For personal use only Unit 2, 2 Richardson Street West Perth Western Australia, 6005 Thank you & questions Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au
Middle Island Resources — Resources Round-up, Sydney (May 2012) on 6ix