Musgrave Minerals — RIU Explorers Conference 2023
27 slides from Musgrave Minerals's conference presentation, Feb 14, 2023
Slide 1: Cue Gold Project – RIU Explorers Conference
Musgrave Minerals Limited ACN 147 890 671 Cue Gold Project Western Australia ASX: MGV Rob Waugh Managing Director RIU EXPLORERS CONFERENCE 14 FEBRUARY 2023
Slide 2: Disclaimer
DISCLAIMER This Presentation (Presentation) has been prepared by Musgrave Minerals Ltd This Presentation is not a prospectus, product disclosure statement or other (MGV) and is authorised for release by its Managing Director, Mr Robert offer document under Australian law or any other law (and will n
Slide 3: 2023 Objectives
2023 OBJECTIVES TARGETING HIGH-GRADE SYSTEMS AND STAND-ALONE GOLD PRODUCTION Exploration Development Deliver robust Stage 1 Drill test targets on Prefeasibility Study for 100% MGV tenure first initial years of with aim to deliver production, utilising May new discoveries and 2022 Mineral Resource gr
Slide 4: Corporate Overview
CORPORATE OVERVIEW ASX Code MGV Current Holdings of Top Shareholders Shares on Issue 591M Westminex Group Share Price (13 Feb 2023) $0.195 9.6% Jetosea Pty Ltd Cash on Hand (Dec 2022) ~$14.6M 8.5% Securities Held (LEG, CYM) ~$0.5M HSBC Custody Nominees 6.7% (Australia) Limited Debt Nil Other 3.7% Ev
Slide 5: Board and Management
BOARD AND MANAGEMENT Managing General Manager Exploration Director Development Manager Rob Waugh Anthony Buckingham Jonathan Gough MSc, BSc, BEng, MAusIMM, MSc, MAIG FAusIMM, MAIG Non-Executive Non-Executive Non-Executive Non-Executive Chairman Director Director Director Graham Ascough Kelly Ross Jo
Slide 6: Excellent Infrastructure – Development Options
EXCELLENT INFRASTRUCTURE – DEVELOPMENT OPTIONS Strategic Appeal • Surrounded by significant gold producers (Ramelius, Westgold, Silver Lake) • Excellent road infrastructure • Proximal to local towns • Progressing towards standalone operation Unique project • High-grade near surface gold • Exploratio
Slide 7: ESG (Environment, Social & Governance)
ESG (ENVIRONMENT, SOCIAL & GOVERNANCE) Assessing alternative power Environment Minimise our carbon footprint. options Regularly monitor and strive to continually Minimise disturbance and improve our environmental performance. rehabilitation Consult and communicate openly with Open communication and
Slide 8: Total Minerals Resource
TOTAL MINERALS RESOURCE Cue Gold Project Lena & Break of • 12.3mt @ 2.3g/t Au for 927koz Au Day Oblique View Includes, near-surface, High-grade Break of Day Trend • 982kt @ 10.4g/t Au for 327koz Au • 47% of total Resources in Indicated category • Deposits only drilled to modest depths • Open at dept
Slide 9: White Heat-Mosaic Deposit – 300m South of Break of Day
WHITE HEAT-MOSAIC DEPOSIT – 300M SOUTH OF BREAK OF DAY • Mineral Resource Estimate • 185kt @ 11.0g/t Au for 65koz Gold 80% Indicated category • Two main lodes • Near-surface high-grade intersections: • 15m @ 111.6g/t Au (21MORC232) • 9m @ 110.5g/t Au (21MORC414) • 7m @ 149.7g/t Au (22MORC130) • 4m @
Slide 10: White Heat-Mosaic Deposit – Long Sections
WHITE HEAT-MOSAIC DEPOSIT – LONG SECTIONS • Mosaic and White Heat lodes and preliminary pit designs ASX: MGV | Musgrave Minerals Limited
Slide 11: Starlight Analogues – New Targets
STARLIGHT ANALOGUES – NEW TARGETS New discoveries have increased the search space Discovery upside potential with multiple regional targets in pipeline High-grade gold identified across multiple new prospects – more to find New >10,000m follow-up RC & AC drilling programs Feb 2023 Significant resour
Slide 12: Gold Corridors & Regional Targets
GOLD CORRIDORS & REGIONAL TARGETS East Numbers Target • >1.3km strike – gold anomalism in regolith • New zone – minimal RC drill testing to date Amarillo Target – no resource yet • 11m @ 8.4g/t Au from 66m (21MUAC103) • 7m @ 23.7g/t Au from 102m (22MORC060) Waratah Trend – no resource yet • 400m eas
Slide 13: Big Sky Deposit
BIG SKY DEPOSIT Near-surface gold mineralisation • Mineral Resource Estimate • 4.65Mt @ 1.2g/t Au for 173koz Gold 28% Indicated category • Multiple lodes – First phase of infill drilling completed • Near-surface intersections outside current resource: • 4m @ 20.9g/t Au from 19m (22MORC159) • 3m @ 10
Slide 14: Waratah Trend
WARATAH TREND Near-surface gold mineralisation • 4km trend – only partially drill tested • >400m combined strike of two main mineralised zones (zones 1 & 2) • 2m @ 28.1g/t Au from 78m (21MORC359) • 3m @ 9.8g/t Au from 12m (21MORC231) • 4m @ 29.9g/t Au from 17m (21MORC228) • Not in current resource •
Slide 15: Amarillo Prospect
AMARILLO PROSPECT Near-surface gold mineralisation • Two parallel, sub-vertical gold lodes - >400m strike • 7m @ 23.7g/t Au from 102m (22MORC060), incl. • 1m @ 118g/t Au from 107m • 9m @ 8.7g/t Au from 44m (21MORC371) • 23m @ 4.2g/t Au from 26m (21MORC185) • Not in current resource 15 ASX: MGV | Mus
Slide 16: PFS Level Studies
PFS LEVEL STUDIES Cue Gold Project – Development Works • High-grade, near surface Mineral Resource provides confidence to progress standalone development • Stage 1 PFS underway to unlock resource value • The high-grade Break of Day Trend deposits provide focus on higher margins • Opportunity for fur
Slide 17: Stage 1 PFS
STAGE 1 PFS Cue Gold Project – Development Works Program Total Mineral Resource Estimate May 2022 – 12.3Mt @ 2.3g/t for 927koz Stage 1 PFS focused on Moyagee Indicated Resources – 4.4Mt @ 2.9g/t for 417koz Mineral Resource Shells Completed Infill Drilling within Mineral Resource Shells Completed Tes
Slide 18: Gold Targets – Lake Austin (EVN JV)
GOLD TARGETS – LAKE AUSTIN (EVN JV) • EVN Cue JV – Evolution 75% : Musgrave 25% • EVN Managing JV and ongoing budget • Gold targets under variable thickness dune and lake cover • Basement gold mineralisation intersected at West Island and Lake Austin North targets • Gold intercepts include: • West I
Slide 19: New Tenure – Mt Magnet South Project
NEW TENURE – MT MAGNET SOUTH PROJECT • Company growth opportunity • Multiple untested targets – and very limited historical exploration • 294 km2 area • Synergies with Cue Project • Creates a long-term pipeline of opportunities • Ability to fully utilize exploration strengths and apply learnings fro
Slide 20: Scheduled Work Plan
SCHEDULED WORK PLAN Cue Gold Project Q1 2023 Q2 2023 RC drill assays pending – Waratah & Break of Day North RC follow-up drilling – existing & new targets Aircore drilling of new regional targets (Cue) Resource infill and extensional drilling Aircore drilling of new regional targets (Mt
Slide 21: Grade + Resources + Recovery
GRADE + RESOURCES + RECOVERY INFRASTRUCTURE + LOCATION + EXPLORATION UPSIDE • Total Mineral Resources • 12.3mt @ 2.3g/t Au for 927koz Au (47% Indicated) …and potential to grow • High-grade Trend (near-surface) • High value near-surface component 982kt @ 10.4g/t Au for 327koz Au • Opportunity for fur
Slide 22: Additional Information
ADDITIONAL INFORMATION 22 ASX: ASX:MGV MGV | |Musgrave Musgrave Minerals Minerals Limited Limited
Slide 23: Gold Resources
GOLD RESOURCES JORC Mineral Resources (Indicated and Inferred) * As at 31 May 2022 Gold Mineral Resources are compliant with JORC 2012 and reported by Musgrave Minerals Ltd (MGV) in ASX announcements dated 31 May 2022, and Cyprium Metals Limited (CYM) in its ASX announcement dated 29 September 2020.
Slide 24: JORC Gold Mineral Resources - May 2022
JORC GOLD MINERAL RESOURCES - 31 MAY 2022 Indicated Resources Inferred Resources Total Resources Notes to Table: The Mineral Resources are produced in accordance with the 2012 Edition Deposit Tonnes Au Grade Total oz. Au Tonnes '000s Au Grade Total oz. Au Tonnes Au Grade g/t Total oz. of the Austral
Slide 25: Copper Resources
COPPER RESOURCES JV agreement with Cyprium Metals Ltd Copper resources at Hollandaire Tonnes Cu Cu Hollandaire Copper* (Mt) (%) (Tonnes) Indicated Resources 2.179 2.0 42,200 Inferred Resources 0.605 1.6 9,300 Total 2.784 1.9 51,500 Opportunity to seek to discover new copper- zinc resources: • Mt Eel
Slide 26: Competent Person's Statement
COMPETENT PERSON’S STATEMENT Mineral Resources The information in this report that relates to Mineral Resources for the Break of Day, Lena, White Heat-Mosaic, Big Sky, Numbers, Leviticus, Jasper Queen, Gilt Edge, Rapier South and the Hollandaire Gold Cap deposits is based on information compiled by
Slide 27: Additional JORC Information
ADDITIONAL JORC INFORMATION Further details relating to the information provided in this Presentation can be found in the following Musgrave Minerals’ ASX announcements: • 31 January 2023, “Quarterly Activities and Cashflow Report” • 24 January 2023, “Further gold intersections, West Island, Cue JV”