Marmota Limited · ASX:MEU
Marmota — Investor Presentation (July 2020)
36 slides from Marmota's investor presentation, July 2020
Slide 1: Aurora Tank Gawler Craton Investor Update July 2020
Aurora Tank Gawler Craton Investor Update July 2020 ASX: MEU
Slide 2: Corporate Snapshot
Corporate Snapshot ASX: MEU Capital Structure Large Shareholders Shares on issue 845 m Options 0 Dr Colin Rose Unlisted employee options 2.5 m (exercisable at 3 cents) Southern Cross Capital J Rose Market Cap (at 6.3 cents per share) ~ $53 m Cash (as at 30 March 2020) $ 2,765,000 Yandal Investments
Slide 3: Board
Board Dr Kevin Wills Dr Colin Rose Shane Barker Executive Director Executive Executive Director Exploration Chairman Production • Joined Board in 2016 • Joined Board as Chairman in 2015 • Joined Board in Sept 2019 • Heads up EXPLORATION • Background in economics, finance • Brought in to head up tran
Slide 4: Aurora Tank Gold Discovery
Aurora Tank Gawler Craton AURORA TANK Gold Discovery ASX: MEU 4
Slide 5: Aurora Tank Gold discovery: Overview 100% owned
Aurora Tank Gold discovery: Overview 100% owned • Aurora Tank is located: about 100 km SW of Coober Pedy, and 50km NE of the Challenger Gold 1 mine … in the highly prospective and under-explored Woomera Defence Area. • Aurora Tank was featured in ‘Top Drill Intersections per State – Australia – Q1 2
Slide 6: MEU Gold Tenements
MEU Gold Tenements Aurora Tank is located about 100km SW of Coober Pedy, and 50 km NE of the Challenger Gold mine 6
Slide 7: Aurora Tank featured in RSC Top Drill Intersections
Aurora Tank Aurora Tank featured in RSC Top Drill Intersections Source: Top Drill Intersections per State – Australia ( RSC Report May 2019 ) 7
Slide 8: Aurora Tank Plan View: best downhole gold results
Aurora Tank Plan View June 2020 Best downhole Gold results Circled text highlights best 1m intersections ASX:MEU 21 May 2020 8 8
Slide 9: Aurora Tank: Outstanding Intersections All close to surface
Aurora Tank: Outstanding Intersections All close to surface 9
Slide 10: Schematic Long-section through new NW flank
Schematic Long-section through new NW flank 10
Slide 11: Aurora Tank First visible Gold From Diamond Core
Aurora Tank First visible Gold From Diamond Core 11
Slide 12: Aurora Tank Metallurgy
Aurora Tank Gawler Craton AURORA TANK Metallurgy ASX: MEU 12
Slide 13: Aurora Tank Excellent Gold Recoveries
Bottle-roll tests Aurora Tank Excellent Gold Recoveries Gold Recoveries (in %) vs Leach times in hours (for the 3 test samples) 13
Slide 14: Metallurgy: Low-cost Low-capex Heap Leach Pathway
Metallurgy: Low-cost Low-capex Heap Leach Pathway • Oct 2019: Column leach tests yield excellent gold recoveries ASX:MEU 10 Oct 2019 14
Slide 15: Low-cost Low-capex Heap Leach Pathway
Low-cost Low-capex Heap Leach Pathway “ Marmota has been investigating the optimal pathway to production at Aurora Tank. The excellent column leach test gold recoveries suggest that Aurora Tank is amenable to low-cost low-capex heap leach techniques. A heap leach means that Marmota would not need to
Slide 16: Marmota evolving from Discovery to Production
Marmota as a company is evolving … Transitioning from: Discovery Production To expedite the process, Marmota is progressing in parallel: Drilling Extensions to NW flank, to NE, to E, and to depth (July/Aug 2020); following primary mineralisation; and selected in-fill drilling to aid resource modelli
Slide 17: Aurora Tank What's Next
Aurora Tank Gawler Craton AURORA TANK What’s Next ASX: MEU 17
Slide 18: Primary Mineralisation
Primary Mineralisation Tests of gold grains (105 g/t) collected at 38m Close to Amenable to downhole on the NW flank surface low-cost open- are predominantly PRIMARY pit methods mineralisation. ASX:MEU 21 May 2020 Primary gold grains sampled from Hole 104 (with fine-grained sulphosalts Suggests host
Slide 19: Marmota's largest ever RC drill program
Aurora Tank: July and August Marmota’s largest ever RC drill program Commencing ~ mid-July (this month): " RC drill program: 85 holes " Total RC drilling: 7,500m (approx.) " Hole depths: Average: 88m (Max: 150m) Multiple objectives + multiple targets: " NW Flank – extensions [ see next slide ] " Ext
Slide 20: July 2020 RC Drill Program
July 2020 RC Drill Program Close to Amenable to Planned surface low-cost open- July RC Drill Holes pit methods Potential for Low-cost Low-capex Heap leach pathway 20 20
Slide 21: Semi-permanent camp being set-up
Aurora Tank: July Semi-permanent camp being set-up " Critical infrastructure to expedite operations pathway " Camp includes: multiple sleeping quarters separate kitchen management office " First stage: 5 donga units now ready for imminent move to Aurora Tank " Camp should be installed around mid-Jul
Slide 22: Key Takeaways
Key Takeaways Aurora Tank Gawler Craton Aurora Tank is very fortunate to have: ! Outstanding High-grade gold intersections ! Mineralisation Close to surface ! Excellent Gold recoveries (metallurgy) ! Soft ground (potential for ‘free dig’ ) ! Primary mineralisation (potential to continue deeper) Comp
Slide 23: NW Gawler Our Backyard
Aurora Tank Gawler Craton NW Gawler Our Backyard ASX: MEU 23
Slide 24: Aurora Tank: first step in Marmota's NW Gawler Exploration Program
Aurora Tank: first step in Marmota’s Gold NW Gawler Exploration Program Aurora Tank Gawler Craton ! Highly prospective under-explored jurisdiction ! Marmota applying our new biogeochemical techniques successfully developed at Aurora Tank — tree sampling to help ‘see’ below the surface ! MEU just awa
Slide 25: Biogeochemical program featured in The Economist and New Scientist
Marmota’s tree sampling success at Aurora Tank receives international recognition Marmota’s R&D biogeochemical program and exploration success featured on cover stories in The Economist and New Scientist 25
Slide 26: Potential Strategic Acquisition
Potential Strategic Acquisition Aurora Tank ! Marmota has a dominant land holding (6,000 km2), and is Gawler Craton interested to further increase it ! Marmota has made an open offer to acquire neighbour Tyranna’s Jumbuck project (predominantly adjacent tenements – see next map) for $1.3 million (co
Slide 27: MEU and TYX tenements
MEU and TYX tenements (as at Aug 2019) 27 27
Slide 28: Uranium Strategic Review Underway
Uranium Strategic Review Underway 28
Slide 29: Uranium Asset: Strategic Review Underway
Uranium Asset: Strategic Review Underway Background Given Marmota’s present focus and success in making new gold discoveries at Aurora Tank, newer shareholders may be unaware that: 1. Marmota started out as a successful uranium explorer 2. Marmota has a substantial Uranium JORC Inferred Resource at
Slide 30: Junction Dam Location
Junction Dam Location Marmota’s Junction Dam project is strategically located 15 km east from the Honeymoon (ASX: BOE) in-situ recovery (ISR) uranium mine (50km west of Broken Hill) … … which is 1 of only 4 permitted uranium mines in Australia 30
Slide 31: Junction Dam Tenement Peak Uranium
Junction Dam Tenement Peak Uranium U3O8 grades Highlighting work so far on Bridget, Saffron and Yolanda areas 31
Slide 32: Marmota Uranium JORC Resource
Marmota Uranium JORC Resource Marmota currently has: • JORC Inferred Resource of 5.4 million pounds U3O8 [ Saffron deposit ] with average grade of 557ppm U3O8 [ ASX:MEU 18 Nov 2011, 20 Feb 2012, 17 July 2013 ] • Overall Exploration Target* of 22–33 million pounds U3O8 at approx. 400 to 700 ppm U3O8
Slide 33: Saffron and Bridget palaeochannel visualisation
€@_ MARMOTA Saffron and Bridget palaeochannel visualisation (depth to resistive basement image) Maiden Inferred Resource 33
Slide 34: Junction Dam Tenement Saffron
Junction Dam Tenement Saffron deposit area Peak Downhole Uranium grades U3O8 34
Slide 35: Prior Marmota ASX releases referenced
This Investor Update includes information based on prior Marmota ASX:MEU releases which may be referred to for more detail, including: 24 June 2020 22 June 2020 18 June 2020 11 June 2020 21 May 2020 14 May 2020 8 April 2020 10 Oct 2019 19 Sept 2019 20 Aug 2018 22 Mar 2018 20 Nov 2017 27 Oct 2017 17
Slide 36: Disclaimer
Disclaimer Disclaimer This presentation has been prepared by Marmota Limited (“MEU”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though MEU has no reason to bel