Polarx Ltd · ASX:PXX
Polarx — Investor Presentation (June 2019)
22 slides from Polarx's investor presentation, Jun 4, 2019
Slide 1: High grade Cu-Au in the Alaska Range Project
ASX: PXX www.polarx.com.au High grade Cu‐Au in the Alaska Range Project Investor update, 4 June 2019 1
Slide 2: High-Grade Cu-Au-Ag deposits with a clear and rapid growth strategy
High‐Grade Cu‐Au‐Ag deposits with a clear and rapid growth strategy Advanced project in Alaska with district‐scale copper anomalies and high‐grade JORC resources in an under‐explored, world‐class porphyry province Two goals: 1. Expand the high grade Zackly Cu‐Au‐Ag resource to critical‐mass for
Slide 3: Strategic Partnership with Lundin Mining Corporation
Strategic Partnership with Lundin Mining Corporation Strategic earn‐in joint venture over PolarX’s 100% owned Stellar Claims. The Zackly Cu‐Au skarn claims are excluded and remain 100% PolarX. Lundin Mining will subscribe for 53.4M ordinary shares in PolarX at A$0.08 per share for A$4.3M, beco
Slide 4: Staged Exploration and Option for Earn-In to form a joint venture
Staged Exploration and Option for Earn‐In to form a joint venture Lundin Mining can exercise the option to enter into a 3‐year Earn‐in Period for a joint Equity In‐ground Cash Total Equiv. venture at any time prior to the Option Exercise Date, with the following terms: Year Investment Expenditure
Slide 5: Alaska is low risk: Under-explored TIER 1 geology in a TIER 1 jurisdiction
Alaska is low risk: Under‐explored TIER 1 geology in a TIER 1 jurisdiction TIER 1 geology with 6 current mines, all world class Global Top 10 investment destination (2019 Fraser Institute Rankings) Several world class deposits in permitting + feasibility study phase Over 40Moz Au mined to da
Slide 6: Superb geology in an under-explored world class province
Superb geology in an under‐explored world class province GOAL 1: Potential for rapid resource expansion at Zackly MARS Low exploration risk due to magnetic nature of mineralization which can be directly imaged Recent near‐surface, high‐grade, flat lying intersections open in all directions (e.
Slide 7: Alaska Range at the intersection of two major crustal-scale faults
Alaska Range at the intersection of two major crustal‐scale faults Straddles the major structure between the Tintina Gold Belt and the main Porphyry Cu‐Au Belt in Alaska‐Yukon‐British Columbia Intersected by a major NW crustal‐scale fault which contains known porphyry systems at its southern end
Slide 8: 12km long mineralised corridor provides near term growth and upside
12km long mineralised corridor provides near term growth and upside Zackly skarn likely to rapidly increase in size with further drilling around near‐surface, flat lying mineralization in drill holes ZX‐18020/24 Mars porphyry target has anomalous Cu‐Au‐Mo‐As 55m @ 2.8g/t Au + 0.6% Cu geochemistr
Slide 9: Zackly – drilling adds high grades 850m east of current resource boundary
Zackly – drilling adds high grades 850m east of current resource boundary Cut‐off grade Category Million Tonnes Cu % Au g/t Ag g/t Contained Cu (t) Contained Cu (Mlb) Contained Au (oz) Contained Ag (Moz) 0.5% Cu Inferred 3.4 1.2 2.0 14.0 41,200 90.9 213,000 1.5 2017 drilling verified historical da
Slide 10: Zackly – existing resource is high grade Cu-Au-Ag, open at depth
Zackly – existing resource is high grade Cu‐Au‐Ag, open at depth Sub‐vertical, suitable for underground mining methods Copper mineralization dominated by high‐tenor bornite and chalcocite which may yield a high grade concentrate Coarse‐grained, free‐milling gold present Metallurgical studies
Slide 11: Zackly – rapid growth potential to the east
Zackly – rapid growth potential to the east Change in orientation across fold hinge, visible in the magnetic data Thick, shallow, gently dipping mineralization – open pit potential Clear potential to rapidly expand resource through further drilling Overturned fold, thickening in hinge Slide 11
Slide 12: Saturn porphyry Cu-Au target
Saturn porphyry Cu‐Au target New (blind) target generated from re‐processing regional magnetic data Recent high‐resolution aeromagnetic data validates target, particularly the recently published 3D inversion modelling Multiple lines of evidence to support porphyry target: Interpreted cluster
Slide 13: Saturn porphyry Cu-Au target likely to be the source of Zackly fluids
Saturn porphyry Cu‐Au target likely to be the source of Zackly fluids Slide 13
Slide 14: Saturn magnetic body comparable in scale and geometry to Grasberg
Saturn magnetic body comparable in scale and geometry to Grasberg GRASBERG (Irian Jaya) SATURN (Alaska) Vertical Extent: >2,200m Vertical Extent: >3,000m Surface Area: 2,400m x 1,500m Surface Area: 2,000m x 1,000m Intrusive Complex: 950m dia Intrusive Complex: TBD Upward flaring geometry Upward flar
Slide 15: 20 line-km IP survey at Saturn to commence in May, then drilling
20 line‐km IP survey at Saturn to commence in May, then drilling 30 new claims staked at Saturn Slide 15
Slide 16: Mars: strong magnetic and surface geochemical anomalism (Cu-Au-As-Mo)
Mars: strong magnetic and surface geochemical anomalism (Cu‐Au‐As‐Mo) Magnetic data (Analytical signal) Copper in soil anomalism Slide 16
Slide 17: Mars: co-incident magnetic, IP and Cu-Au-As-Mo anomalism, drill ready
Mars: co‐incident magnetic, IP and Cu‐Au‐As‐Mo anomalism, drill ready Slide 17
Slide 18: Ongoing work programs and news flow
Ongoing work programs and news flow January Assay results for remaining drill holes at Zackly March Interpretation + 3D modelling of detailed magnetic data April Preliminary metallurgical test‐work for Zackly skarn Finalise 2019 geophysical and geochemical sampling programs Finalise 2019 drilling pr
Slide 19: Concluding Statements
Concluding Statements Big holding of high quality, high‐grade copper‐gold‐silver assets in mining friendly Alaska, USA Advanced projects in a TIER 1 jurisdiction – early exploration risk has been removed Major drilling and exploration program delivered superb results in 2018 and highlighted lo
Slide 20: Appendix 1: Experienced management team with track-record
Appendix 1: Experienced management team with track‐record A Chartered Accountant with over 25 years’ direct experience in developing resource companies. A founding director of Gilt-Edged MARK BOJANJAC Mining Limited which discovered East Kundana, one of Australia’s highest grade gold mines and manag
Slide 21: Appendix 2: Strong institutional support from major funds
Appendix 2: Strong institutional support from major funds Shares (M) Options (M) TOTALS 372.7 23.45 SHAREHOLDERS: % Lundin Mining Corporation 14.3 TIGHTLY HELD Management/Directors/MRG Team 11.4 JP Morgan (UK) 8.3 Top 20 >70% Ruffer Gold Fund (UK) 7.4 Top 40 >77% U.S. Global 7.0 Lowell Resources Fun
Slide 22: Cautionary Statements
Cautionary Statements This presentation has been prepared by PolarX Limited (“PolarX”) to assist in informing interested parties about the Company and its progress. It should not be considered as an offer or invitation to subscribe for or purchase any securities in PolarX or as an inducement to make