Polarx Ltd · ASX:PXX
Polarx — Investor Presentation (May 2020)
23 slides from Polarx's investor presentation, May 19, 2020
Slide 1: Alaska Range Project - High-Grade Au-Cu Zackly Skarn and new Porphyry discoveries
POLAR LIMITED ALASKA Alaska Range Project - USA High-Grade Au-Cu Zackly Skarn and new Porphyry discoveries Investor Update 19 May 2020 ASX: PXX www.polarx.com.au
Slide 2: Highlights
Highligh » Forthcoming field season still possible with COVID-19 restrictions > Drilling of the high-grade Zackly East deposit (55m @ 2.8g/t Au + 0.6% Cu) to start in July > Extension of Mars porphyry Cu-Au discovery hole planned later in Q3 > Multiple prospective partners undertaking due diligence
Slide 3: Alaska is low risk: Under-explored TIER 1 geology in a TIER 1 jurisdiction
¢ POLAR LIMITED Alaska is low risk: Under-explored TIER 1 geology in a TIER 1 jurisdiction > Pro-mining state and a Global Top 10 investment destination per 2020 Fraser Institute Rankings > Over 40Moz Au mined to date > Considerably under-explored vs. other TIER 1 provinces > Strong Australian prese
Slide 4: Supported by Major international resource investors
Supported by Major international resource investors Shares (M) Options (M) Cash (31 Mar ‘20) TOTALS 416.2 29.8 $1.4M SHAREHOLDERS: % Lundin Mining Corporation 12.8 TIGHTLY HELD Management/Directors/MRG Team 13.1 U.S. Global (US) 9.3 opal (Us) Top 20 68% Ruffer Gold Fund (UK) 8.7 Top 40 75% Golden Hi
Slide 5: Executive team: Mark Bojanjac, Frazer Tabeart, Jason Berton
A Chartered Accountant with over 25 years’ direct experience in developing resource companies. A founding director of Gilt-Edged Mining MARK BOJANJAC Limited which discovered East Kundana, one of Australia’s highest grade gold mines and managing director of a public company which B.Com, ICAA success
Slide 6: Alaska: the least explored part of the worlds most prolific copper belt
POLAR Alaska: the least explored part of the worlds most prolific copper belt Tongazokm ; Cu reserves(Mt) Modified after Sun et al 2015, based on USGS data y LIMITED
Slide 7: Alaska Range Project has scale, huge upside and multiple opportunities
POLAR Alaska Range Project has scale, huge upside and multiple opportunities soo tae j Coane LF > Large holding of State Mining Claims covering ~261km? A 7 K > Very strong geochemical footprint for copper over huge areas A ae f [seonwalk] a N: > High-grade mineralisation at Caribou Dome and Zackly d
Slide 8: Clear strategy to evaluate the high priority 12km Mars-Zackly-Saturn corridor
Clear strategy to evaluate the high priority 12km Mars-Zackly-Saturn corridor > Three goals: 1. Expand the 100% owned high-grade Zackly Cu-Au resource through further drilling: LOW RISK 2. Delineate the Mars porphyry Cu discovery through further drilling: MODERATE RISK 3. More drilling at the large
Slide 9: GOAL 1: Near-term upside from the Zackly East Au-Cu-Ag skarn deposit
GOAL 1: Near-term upside from the Zackly East Au-Cu-Ag skarn deposit
Slide 10: Huge upside at Zackly East: highest grades 850m east of current resource
Cu POLAR LIMITED Huge upside at Zackly East: highest grades 850m east of current resource ul The high-grade Zackly East Skarn is 40-50m thick in existing drilling and may extend along “600m strike length T 7OOS000MN Mineralised Skarn mere driling required ei to convert to JORC resource ZACKLY MAIN S
Slide 11: Zackly East; over-thrusting to produce ideal open pit geometry
POLAR LIMITED Zackly East; over-thrusting to produce ideal open pit geometry present day surface Vv Thrusting, fold tightening and intrusion of deep’ porphry providing Au-Cu fluids to fort skarns > Flat lying Zackly East mineralisation occurs in the upper plate of an overthrust block on top of sub-v
Slide 12: 3,000m drilling program at Zackly East scheduled in July
POLAR 3,000m drilling program at Zackly East scheduled in July _ 3,000m new drilling to test Zackly East Click here to view a video showing the Zackly East target in 3D 12
Slide 13: GOAL 2: Follow-up the porphyry discovery at Mars
GOAL 2: Follow-up the por ee
Slide 14: Spatially co-incident magnetic anomaly
Spatially co-incident magnetic anomaly (potential oxidised-intrusion), IP anomaly, and Cu-Au-Mo-As in soil anomaly. Supported by up to 7% Cu and 7g/t Au in rock-chip samples ~ ae tiias Mo in soit anomaly 20} 597500 508000 598509 509000 IP Chargoabitity ‘anomaly cee 5 ud valli 508505 14
Slide 15: Multiple Cu and Cu-Mo veining events at Mars - porphyry copper discovery
Multiple Cu and Cu-Mo veining events at Mars = porphyry copper discovery (ROO1 - 357.5m in with coarse grained molybdenite
Slide 16: Mars discovery: highly encouraging grades, hole ended in mineralisation
Mars discovery: highly encouraging grades, hole ended in mineralisation From (m) To(m) Interval(m) Cu% Auppm Mo ppm 308.02 410.09 102.07 0.22% 0.07 incl 322.02 329.02 7.00 0.32% 0.10 and 347.86 384.09 36.23 0.26% 0.08 incl 355.85 384.09 28.24 0.28% 0.09 and 365.91 384.09 18.18 0.30% 0.09 > The drill
Slide 17: GOAL 3: More drilling to test the Saturn porphyry Cu-Au target
Slide 18: Saturn porphyry Cu-Au target; 3D modelling highlights scale + geometry
POLAR LIMITED Saturn porphyry Cu-Au target; 3D modelling highlights scale + geometry 7410023: 9.8m @3.3% Cu +2.3git Dcsan2s: 15.0m @ 2.3% Cu + 2.2g/t | 2%-18020: 55m @ 0.6% Cu + 2.8ait Del9024: 47m @ 0.6% Cu + 3.1git © Polarx 2016 Drill Holes = _Zackly Inferred Resource (2018) Intrusive Halo Vv Vv V
Slide 19: Saturn Drilling Summary - 5 deep holes in 2019, intense clay alteration
POLAR Saturn Drilling Summary —5 deep holes in 2019, intense clay alteration Drill Plan on Magnetic Data Drill Sections on IP Data 517200 517500 ‘15000 ‘36609 539000 520600 i 3 2018 Helimag Survey (RTP) 2019 iP. vey Lines re st8s00 518000 20800 19SATO01 at 332m depth. Argillic alteration overprintin
Slide 20: Porphyry alteration model
Overprinted advanced argillic ? A 0km A A A A A A 1km Argillic Preserved phyllic 2km Propylitic 3km 4km Preserved K-Silicate eap113.cdr
Slide 21: Gravity survey confirms porphyry target (density low and magnetic high)
POLAR Gravity survey confirms porphyry target (density low and magnetic high) 0 i 520000 Gravity low may represent intrusive body = porphyry target ae r rae 025 05 1 i iometery 318000 520000 7008000 vector towards target Co-incident magnetic high and gravity low = High-priority target a 002s 08 1 a
Slide 22: Concluding Statements
POLAR LIMITED Concluding Statements Q Big holding of high quality, advanced projects in a TIER 1 jurisdiction — early exploration risk removed O Potential for both rapid near-term resource expansion and world-class discoveries QO Near-term upside from the 100% owned high-grade Zackly Cu-Au deposit,
Slide 23: Disclaimer
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 an offer or invitatio