Iondrive Limited · ASX:ION
Iondrive — Southern Gold — Investor Presentation (February 2021)
18 slides from Iondrive's investor presentation, February 2021
Slide 1: South Korea: A New Frontier for Epithermal Au-Ag Discoveries
SOUTHERNGOLD South Korea SOUTHERNGOLD A New Frontier for Epithermal Au-Ag Discoveries February 2021 Corporate Presentation ASX Ticker: SAU
Slide 2: Disclaimer
SOUTHERNGOLD Disclaimer Forward-looking statements The information in this presentation is published to inform you about Southern Gold Limited (“Southern Gold”) and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. These may inc
Slide 3: Southern Gold: Focused Strategy
SOUTHERNGOLD Southern Gold: Focused Strategy “The discovery of high-grade precious metal deposits in South Korea.” • 100% focus on South Korea • 100% focus on Au-Ag • Deploy the best people • ‘Boots on the ground’ culture • Targeting epithermal Au-Ag • Looking for grade • Looking for scale (vein wid
Slide 4: South Korea: Historical Context
SOUTHERNGOLD South Korea: Historical Context Epithermal vein discovery 1988 First recognition of epithermal mineralisation in South 15m wide Lighthouse Vein Cut slab of Lighthouse Korea: Colloform banded quartz – rhodochrosite – base southern coast of Gasado Island. Vein, colloform banded metal sulp
Slide 5: South Korea: Transformation to Today
SOUTHERNGOLD South Korea: Transformation to Today • Fully industrialised democratic nation with 10th largest economy (Nominal GDP, IMF) • Significant manufacturing base supported by extensive infrastructure (roads, rail, ports, electricity, high speed internet) • Corporate tax rate 25%, royalties on
Slide 6: People: The Board
SOUTHERNGOLD People: The Board Non-Executive Directors Greg Boulton, Doug Kirwin, Chairman NED Extensive commercial and resource Geologist with over 50 years experience sector experience spanning over 40 including several well-known mineral years discoveries, including in South Korea Peter Bamford,
Slide 7: People: Field Team
SOUTHERNGOLD People: Field Team Paul Wittwer Exploration Manager Geologist with extensive experience encompassing exploration, development, JORC resource definition and mining. Craig Panther, Cyrill Orrsich Consultant (Ex Ivanhoe) Consultant (Ex Ivanhoe) Very senior exploration Very senior explorati
Slide 8: Current Activities
SOUTHERNGOLD Current Activities • Actively drilling (currently Aphae) with Ausino Drilling Services support • New discovery projects eg: “Janghwal”, “Geum Mar”, “Daeam Valley” • New targets eg: “Nettle Zone”, Deokon Project with ultra high grade silver (>0.9% Ag) • Fully Funded (~A$10m cash) Drillin
Slide 9: Drilling in 2021H1
SOUTHERNGOLD Drilling in 2021H1 Drilling relatively unimpacted by COVID19. Direct drilling costs <US$125/m HQ3 core. Aphae Round 2 drilling in process January/ Follow up high grade gold 2020 February drilling Geum Mar Scout Drilling March/ Targeting high grade gold on April surface Float at Geum Mar
Slide 10: Aphae Project
SOUTHERNGOLD Aphae Project Drone magnetic survey by government agency KIGAM (Korean Institute of Geoscience and Mineral Resources) Round 1 Drilling* ▪ 0.21m @ 107.5g/t Au and 166g/t Ag ▪ 0.17m @ 15.9g/t Au and 23.7g/t Ag ▪ 1m @ 5.07g/t Au and 13.8g/t Ag ▪ 0.86m @ 5.49g/t Au and 59g/t Ag ▪ 0.18m @ 5.
Slide 11: Geum Mar Project
SOUTHERNGOLD Geum Mar Project KRS206844 Crystalline quartz vein breccia float, 4.98g/t AU Float at Geum Mar, KRS206834. Sheeted network quartz vein breccia hosted in siltstone/shale with iron/sulphide oxides. 24.0g/t Au, 11.5g/t silver./t Ag. Note: No previous drilling in this system Outcrop from Ge
Slide 12: Deokon Project
SOUTHERNGOLD Deokon Project Outcrop from Nettle Zone, KRS206762 8.56 g/t Au, 9260 g/t Ag. Brecciated rhyolitic tuff with carbonaceous mudstone fragments. Very fine sulphides disseminated in the fragments and silica-carbonate flood veining with Fe-Oxide staining. Note: No previous drilling in this ta
Slide 13: No debt, A$10m cash, +A$13m asset value
SOUTHERNGOLD No debt, A$10m cash, +A$13m asset value A$10.2m placement @ A$0.12/share announced A$4m placement 1st vaccine announced JV Sale Price Metal Tiger PLC announced joins register US$9.945m (~A$13m) COVID19 Ausino Drilling Services performance rights approved (US$1.1m drill for equity) Comme
Slide 14: Our Peers
SOUTHERNGOLD Our Peers North Asia Gold Play World class Au deposits in World class Au deposits in Kyushu, Jiaodong Peninsula, China South Japan e.g. Xiling orogenic Au deposit Korea e.g. Hishikari epithermal Au deposit (>17Moz Au, recent discovery) China Japan (>10Moz Au, discovery pre 2009) Souther
Slide 15: What's Coming Up?
SOUTHERNGOLD What’s Coming Up? Funded to complete diamond drilling programmes across the portfolio in 2021 and 2022 ❑ Follow-up drilling at Aphae Now ❑ First pass scout drilling at Geum-Mar 2021Q1 ❑ First pass scout drilling at Nettle/ Thistle 2021Q2 ❑ First pass scout drilling at Daeam Valley 2021Q
Slide 16: Compelling Value
SOUTHERNGOLD Compelling Value Southern Gold Market Cap @ 9.5c per share ~AUD$20.3m Cash on hand ~AUD$10m Enterprise value (EV) AUD ~AUD$10.3m EV USD (@US$0.78 fx rate) ~USD$8m Ausino Drilling Services ‘Drill for Equity’ Deal USD$1.1m Price for JV interest (payable by BMV to SAU) ~USD$9.9m Implied Va
Slide 17: Summary
SOUTHERNGOLD Summary Geum Mar Dokcheon ❑ Strategy: targeting South Korea for Tier 1 high-grade epithermal gold- silver deposits, in a unique country play. ❑ Experienced exploration team actively drilling: ‘first mover advantage’ well established in South Korea with experienced local Korean team. ❑ A
Slide 18: Contacts
SOUTHERNGOLD Contacts Simon Mitchell Physical Address: 10 George Street Managing Director Stepney, South Australia Office: +61 8 8368 8888 5069 smitchell@southerngold.com.au Australia info@southerngold.com.au Postal Address: Web Address: PO Box 255 www.southerngold.com.au Kent Town SA 5071 18
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