Slide 1: Investor Presentation – Critical Metals – Australia and Canada
For personal use only Investor Presentation Critical Metals – Australia and Canada 7 – 9 May 2024
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT For personal use only This presentation has been prepared by Corazon Mining Limited (“Corazon” or “Company”). It contains forecasts and forward looking statements which are not a guarantee of future performance and which involve certain risks. Actual results and future outc
Slide 3: Competent Person Statement
COMPETENT PERSON STATEMENT For personal use only The information in this report that relates to Exploration Results and Targets is based on information compiled by Mr. Brett Smith, B.Sc Hons (Geol), Member AusIMM, Member AIG and an employee of Corazon Mining Limited. Mr. Smith has sufficient experie
Slide 4: Corazon's Current Activities – Critical Metals Focus
CORAZON’S CURRENT ACTIVITIES – CRITICAL METALS FOCUS For personal use only Divesting partial Lithium Rights Nickel sulphide targets identified “Giant porphyry copper-gold deposit” target Lynn Lake Drilling identified for testing A long-life, low-cost, low-carbon mining opportunity • Class-1 Nickel S
Slide 5: Corazon Mining Limited – At a Glance
CORAZON MINING LIMITED – AT A GLANCE For personal use only Capital Structure – ASX:CZN Issued Shares 615m Unlisted Options/Rights (1) 24.81m Market Cap (@ $0.01/share) $6.15m Cash (March 2024 Quarterly) $669k Shareholders Board of Directors Number of Shareholders 2,415 Terry Streeter Non-Exec. Chair
Slide 6: Nickel–Copper Sulphide / Lithium (Spodumene) Pegmatite
For personal use only Nickel–Copper Sulphide Lithium (Spodumene) Pegmatite Partial divestment of lithium mineral rights is progressing
Slide 7: Miriam Nickel Project
MIRIAM NICKEL PROJECT For personal use only 1969 Discovery – little modern nickel exploration Discovery drilling: • 9.6m @ 5.60% Ni • 12.5m @ 0.56% Ni • 3.2m @ 2.59% Ni • 0.9m @ 5.57% Ni • 6.1m @ 0.90% Ni Multiple “base of channel” targets within the 2.5km Miriam Trend 7
Slide 8: Miriam Nickel Project
MIRIAM NICKEL PROJECT For personal use only 1969 Discovery – little modern nickel exploration Discovery drilling: • 9.6m @ 5.60% Ni • 12.5m @ 0.56% Ni Nickel Sulphide • 3.2m @ 2.59% Ni Target • 0.9m @ 5.57% Ni • 6.1m @ 0.90% Ni Multiple “base of channel” targets Lithium within the 2.5km Miriam Trend
Slide 9: Miriam Nickel Project – Lithium Potential
MIRIAM NICKEL PROJECT – LITHIUM POTENTIAL For personal use only Discovery of Lithium Pegmatite* • Spodumene-rich pegmatite outcrop (1.85% Li2O, spodumene content ~30%) • Large geochemical anomaly Lithium Rights Divestment** • Strategic consolidation of Miriam lithium with Future Battery Minerals Lim
Slide 10: Miriam Nickel Project – Lithium Potential
MIRIAM NICKEL PROJECT – LITHIUM POTENTIAL For personal use only Discovery of Lithium Pegmatite* • Spodumene-rich pegmatite outcrop (1.85% Li2O, spodumene content ~30%) • Large geochemical anomaly Lithium Rights Divestment** • Strategic consolidation of Miriam lithium with Future Battery Minerals Lim
Slide 11: Copper–Cobalt–Gold–Silver Sulphide: Immediate Exploration Focus
For personal use only Copper–Cobalt–Gold–Silver Sulphide Immediate Exploration Focus
Slide 12: Mt Gilmore Geology and Copper in Soils Image
Geology + Copper 21.6 %Cu in Soils Image 361 ppmAg 0.64 %Cu MT GILMORE 176 ppmCo 0.17 g/t Au 294 ppmMo 0.78 %Cu For personal use only 148 ppmCo 10.75 %Cu 0.12 g/tAu 180 ppmCo 0.11 g/tAu + 20 km strike anomaly 74.7 ppmAg 0.41 %Cu 0.52 %Zn 409 ppmCo Extensive high-grade 0.82 g/tAu mineralisation at su
Slide 13: Mt Gilmore
MT GILMORE For personal use only Innovative mineral chemistry vectoring studies* identifies May Queen as a target for Giant Porphyry Copper-Gold Deposits Target has coincidental surface copper anomalism and geophysical characteristics potentially indicative of porphyry copper-gold systems Planning u
Slide 14: Mt Gilmore
MT GILMORE For personal use only Located at the northern end of the Mt Gilmore Aeromagnetic Image Trend – underexplored – never drilled Target ~ 2km in strike – within a geophysical magnetic-low and bounded by a magnetic-high rim – a common relationship for these systems Strong surface copper anomal
Slide 15: Nickel-Copper-Cobalt Sulphide: Mine development studies continuing
For personal use only Nickel-Copper-Cobalt Sulphide Mine development studies continuing
Slide 16: Lynn Lake Project Location & Infrastructure
LYNN LAKE PROJECT LOCATION & INFRASTRUCTURE For personal use only Community Support Services Hydro-Power Rail 16
Slide 17: Geologically Unique Within the Region
GEOLOGICALLY UNIQUE WITHIN THE REGION For personal use only Ralph Lake Complex +1% Ni in 1950’s Drilling A Plug – Mining Opportunity with +20 Deposits & Large JORC Resource Motriuk Complex – EL Deposit – Opencut Mining Recent Discovery of Ni Opportunity + High-Grade Sulphide in Drilling Mineralisati
Slide 18: Prolific Historical Producer
PROLIFIC HISTORICAL PRODUCER For personal use only Farley Shaft A Shaft A long-lived low-grade nickel project • Class 1 Nickel Sulphide • Powered by renewable hydro-electricity Produced 206,200t Ni and 107,600t Cu • Over 20 separate nickel sulphide deposits Lynn Lake Townsite and Mine 1972 • A Plug
Slide 19: Geologically Unique Within the Region
GEOLOGICALLY UNIQUE WITHIN THE REGION For personal use only * JORC Resource Estimate at 0.5% Ni Base Cut - Published 25th October 2021 ** 100% Sulphide Nickel (Negligible Unrecoverable Silicate Nickel) 19
Slide 20: Mine Design Concepts
MINE DESIGN CONCEPTS* For personal use only Detailed mine scheduling and optimisation work underway Base Case Study includes +1Mtpa flotation plant Dual feed streams of High Grade (ROM) and Upgraded Low Grade – targeting: ~10kt Ni, ~5kt Cu and 500t Co metal/year Mine life +15 years Production Shaft
Slide 21: Processing – Conceptual Flowchart
PROCESSING – CONCEPTUAL* FLOWCHART For personal use only Low-Grade Upgrading Facility Flotation Plant Low-Grade Feed ROM Feed (+0.35% Ni, +0.15% Cu) (+0.6% Ni, +0.3% Cu) Crushed Crushed Feed Feed Copper Float Nickel Float Crushing/Grinding Circulating Load Up-Grade Ball Mill to Flotation +1,000um Sc
Slide 22: Positioning Lynn Lake as a Low-Cost Operation
POSITIONING LYNN LAKE AS A LOW-COST OPERATION For personal use only Only three times in history has the nickel LME Nickel Price Curve price been higher Historical metal prices suggest a robust, long-life nickel operation needs to operate at costs ~US$5/lb 22
Slide 23: Positioning Lynn Lake as a Low-Cost Operation
POSITIONING LYNN LAKE AS A LOW-COST OPERATION For personal use only At the recent low nickel prices of ~US$7/lb, the Global Nickel C1 Cash Cost Curve – 2024E Indonesian laterite miners were reportedly struggling US$7.00/lb Laterite with cost barriers US$5.00/lb Deposits Production of Class 1 and bat
Slide 24: Positioning Lynn Lake as a Low-Cost Operation
POSITIONING LYNN LAKE AS A LOW-COST OPERATION For personal use only Demand for high-quality nickel forecast to grow off the back of a developing EV and rechargeable Net Zero Emissions 2030 Target – Expected Nickel Required battery sector <6 years Current oversupply of lower quality nickel from Indon
Slide 25: Investment Highlights
INVESTMENT HIGHLIGHTS For personal use only Active on 3 Critical Metals projects – exploration and development Lynn Lake Nickel-Copper-Cobalt Mining Centre – Canada Focussed on establishing a long-life, low-cost, low-carbon critical metals mining operation Aggressive exploration strategy searching f
Slide 26: For further information please contact
For personal use only For further information please contact: Brett S Smith Managing Director Corazon Mining Limited Telephone: +61 8 6166 6361 Email: info@corazon.com.au Website: corazon.com.au