Western Mines Group Ltd · ASX:WMG
Western Mines — Shareholder Meeting (November 2024)
15 slides from Western Mines's shareholder meeting presentation, Nov 27, 2024
Slide 1: Western Mines Group Company AGM Presentation
WESTERN MINES GROUP COMPANY AGM PRESENTATION 27 NOVEMBER 2024 @westernmines Western Mines Group ASX: WMG www.westernmines.com.au
Slide 2: Disclaimer
DISCLAIMER NATURE OF THIS DOCUMENT This presentation has been prepared by Western Mines Group Ltd ACN 640 738 834 (Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge and represent to the C
Slide 3: A Significant 18 Months for the Company
3 $30,000 $25,000 $20,000 $15,000 OCTOBER 2024 Further Phase 3 Assay Results up to 1.25% Ni 0.60% Cu 1/11 /2 4 Further High-Grade Intervals up to 2.46% Ni 0.43% Cu Regional EIS Drilling Confirms Belt-Scale Mineral System SEPTEMBER 2024 1/10 /2 4 Phase 3 Assays Extend Known Mineralisation at Mulga Ta
Slide 4: Frugal and Efficient Exploration
FRUGAL AND EFFICIENT EXPLORATION CAPITAL SPEND FOCUSED ON ADDING VALUE IN THE GROUND • Small capital raises minimise dilution well supported by top 30 shareholders • Efficient exploration G&A : Exploration Ratio ~1:4 • Maintaining progress through the bottom of the cycle in preparation for the upswi
Slide 5: WA Focused Nickel and Gold Exploration
WA FOCUSED NICKEL AND GOLD EXPLORATION ASX:WMG Western Mines Group Company Presentation, November 2024 5
Slide 6: Transformational Year for the Mulga Tank Project
TRANSFORMATIONAL YEAR FOR THE MULGA TANK PROJECT ADVANCING THE DISCOVERY OF AN EXTENSIVE NICKEL SULPHIDE MINERAL SYSTEM • 21,704m RC and diamond drilling completed since October 2023 November 2023 – January 2024 • Phase 1 RC first systematic drilling targeting shallow mineralisation February 2024 •
Slide 7: Phase 1 RC Program Confirmed Shallow Mineralisation
PHASE 1 RC PROGRAM CONFIRMED SHALLOW MINERALISATION FIRST SYSTEMATIC EXPLORATION OF MULGA TANK • Initial 22 hole, 7,035m RC program – 19 out of 22 holes mineralised PHASE 1 RC RESULTS: • MTRC001: Cumulative 253m at 0.24% Ni, 128ppm Co, 76ppm Cu, 27ppb Pt+Pd with S:Ni 1.4 • MTRC002: Cumulative 111m a
Slide 8: Implicit Modelling of Ni, S and Chalcophile Elements
IMPLICIT MODELLING OF Ni, S AND CHALCOPHILE ELEMENTS JORC EXPLORATION TARGET 350Mt to 2,200Mt at 0.24% to 0.35% Ni, 120ppm to 150ppm Co, S:Ni 1.1 to 1.3 Higher-grade core W (2,800ppm Ni, 1,000ppm S cut-off) E Large lower-grade (1,500ppm Ni, 1,000ppm S cut-off) Dunite shell Cautionary Statement on JO
Slide 9: Phase 2 RC Focused on the Higher-Grade Core
PHASE 2 RC FOCUSED ON THE HIGHER-GRADE CORE MULTIPLE +200M INTERVALS AND HIGHER GRADES EMERGING • 17 hole 5,534m RC completed February-March 2024 – all 17 holes mineralised • Drill hole spacing reduced to ~200m x 200m over 1km2 area PHASE 2 RC RESULTS: • MTRC023: Cumulative 115m at 0.28% Ni, 133ppm
Slide 10: With Phase 3 RC the System Is Getting Bigger and Better
WITH PHASE 3 RC THE SYSTEM IS GETTING BIGGER AND BETTER EXTENDING MINERALISATION TO SOUTH AND EAST • 19 hole 6,002m RC completed July-September 2024 – all 19 holes mineralised • Infill around MTRC016, MTRC034 and follow-up on shallow high-grade results in MTRC032 and MTRC038 PHASE 3 RC RESULTS: • MT
Slide 11: It's Not Mt Keith – It's a Perseverance-Style Hybrid System
ITS NOT MT KEITH – ITS A PERSEVERANCE-STYLE HYBRID SYSTEM SEMI-MASSIVE NICKEL-COPPER SULPHIDE IN RC • Higher grade results in the central-eastern area of the Complex • MTRC015: 1m at 1.11% Ni, 516ppm Co, 0.45% Cu, 62ppb Pt+Pd from 172m 3m at 1.32% Ni, 56ppm Co, 0.10% Cu, 34ppb Pt+Pd from 184m 2m at
Slide 12: Shallow High-Grade Results in RC Drilling
SHALLOW HIGH-GRADE RESULTS IN RC DRILLING PODS OF HIGH-GRADE MATERIAL WITHIN A LARGE OPEN PIT • Targeting areas of higher grade “starter pit” material >0.40% Ni to improve economics of a large-scale project • 23 intersections of high-grade intervals >1% Ni within shallow RC holes • Still wide spaced
Slide 13: What Lies at Depth Within This Extensive Sulphide System?
WHAT LIES AT DEPTH WITHIN THIS EXTENSIVE SULPHIDE SYSTEM? THERE’S A MONSTER HIDING SOMEWHERE • Intersections of “cloud” sulphide potentially vectoring towards sulphide enriched keel and/or feeder vent: • MTD023: 88m at 0.44% Ni, 151ppm Co from 1,212m • MTD027: 96m at 0.40% Ni, 161ppm Co from 1,208m
Slide 14: And Could Be Kambalda – Prospective Unexplored Komatiite Channels
AND COULD BE KAMBALDA – PROSPECTIVE UNEXPLORED KOMATIITE CHANNELS FERTILE KOMATIITE CHANNELS EXTEND 15KM • Komatiite sequence with A-B zones logged in the Panhandle • Evidence of prospective high-grade mineralisation: • MTD006: 0.25m at 3.8% Ni, 0.7% Cu and 0.7g/t PGE from 221.6m • MTD016: 0.3m at 1
Slide 15: Exciting Discovery Opportunity
EXCITING DISCOVERY OPPORTUNITY EXPLORATION PHILOSOPHY • We believe multiple significant nickel deposits will be found at Mulga Tank • We strive to do high-quality technical exploration work • We are frugal with overheads to maximise exploration spend and minimise equity dilution • We want to change
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