Union Star Metals Ltd · ASX:USM
Union Star Metals — New World Metals Investment Series (September 2022)
39 slides from Union Star Metals's conference presentation, Sep 8, 2022
Slide 1: Unlocking Australia's Next Rare Earths Discovery
UNLOCKING AUSTRALIA’S NEXT RARE EARTHS DISCOVERY New World Metals Investment Series – 8 September 2022 ASX : PVW PVW RESOURCES SEPTEMBER 2022 || George SEPTEMBER Bauk,2022 Executive Director
Slide 2: Disclaimer
DISCLAIMER PVW Resources ACN 124 541 466 Company’s website (pvwresources.com.au). The Company confirms that it is not aware of any new information or data that This document is neither a prospectus nor an offer to subscribe materially affects the information included in the original market for Share
Slide 3: A Diversified, Well-Funded Explorer
A DIVERSIFIED, WELL-FUNDED EXPLORER Unlocking new Rare Earths and gold discoveries ► Specialist team – proven track record of Rare Earth Elements (REE) discovery and development ► Focused on the greenfields Tanami REE Project, WA: – 18km long corridor with strong potential for a major new unconformi
Slide 4: Corporate Overview
CORPORATE OVERVIEW Shares Share Market Cash on issue price capitalisation at bank* 96,335,413 27 cents $26.0m $9m Share price performance (ASX:PVW) Top shareholders Top 100 own 64.06% Jason Peterson 6.14% Lind Partners 5.64% Board 5.47% Other 82.75% 0 20 40 60 80 100 PVW RESOURCES | SEPTEMBER 2022 *
Slide 5: Right Place – Tanami REE and Gold
RIGHT PLACE – TANAMI REE AND GOLD Large-scale discovery potential in Australia’s new Heavy Rare Earth province ASX : PVW PVW RESOURCES | SEPTEMBER 2022 5
Slide 6: Tanami – An Emerging Heavy Rare Earths Province
TANAMI – AN EMERGING HEAVY RARE EARTHS PROVINCE ► ~1,270km2 project area with historical REE and gold results – but minimal modern exploration ► Potential for extensive hydrothermal unconformity-related rare earth mineralisation identified along the 18km Watts – Castella trend in the 2021 – 2022 fie
Slide 7: Three Key Ingredients for Discovery Success
THREE KEY INGREDIENTS FOR DISCOVERY SUCCESS … An unconformity-related HREE deposit must have 3 key ingredients: Fault 1 2 3 Castella Prospect Unconformity 22TARC002 - 2m @ 6,496 ppm TREO Major EW shear The right stratigraphic setting The right style of mineralisation The right plumbing system Unconf
Slide 8: 3 Key Ingredients Identified – Drilling Underway
1 2 3 KEY INGREDIENTS IDENTIFIED – DRILLING UNDERWAY 2 Drilling undercover east of Watts Rise and along 2022 program in progress strike at Nisa producing pXRF yttrium anomalies Initial program of 10,727m of RC drilling complete, 25,000m of air-core 2022 RC drilling has intersected REE’s in underway
Slide 9: Watts Rise – Unexpected pXRF Yttrium Anomalies
WATTS RISE – UNEXPECTED pXRF YTTRIUM ANOMALIES RC drilling shows early encouragement ► Pargee Sandstone hosted pXRF yttrium anomalism at Watts Rise – REE assays pending ► Anomalous pXRF results include: • 26,085 ppm Y203, 63 - 64m (22TARC101) • 6,565 ppm Y203, 35 - 36m (22TARC107) ► Excellent histor
Slide 10: Watts Rise – Right Style of Heavy REE Anomalism
2.2 WATTS RISE – RIGHT STYLE OF HEAVY REE ANOMALISM RC drilling shows early encouragement ► pXRF yttrium anomalism is open locally, confined by drilling ► Air-core drilling to date on average 30m is shallow, RC drilling averaged 103m. ► However, pXRF anomalism in Aircore has indicated anomalous yttr
Slide 11: Castella – Widespread Mineralisation in Initial Drilling
CASTELLA – WIDESPREAD MINERALISATION IN INITIAL DRILLING 497000 498000 Castella RC results confirm targeting criteria 7814000 ► Assays returned from 35 holes (67 remaining, avg depth 73m) show modest grade TREO, with best results to date: • 22TARC002 - 2m @ 6,496 ppm TREO (296 ppm Dy2O3, 2,347 ppm Y
Slide 12: Right Stratigraphic Setting Confirmed – Next Steps
1.1 RIGHT STRATIGRAPHIC SETTING CONFIRMED – NEXT STEPS ► REE regional exploration 1 program continues to 1 focus on the 18km corridor between Watts Rise and Castella 1 ► RC drilling has confirmed the unconformity at Castella is mineralised at depth and is regionally anomalous 1 ► A detailed ground g
Slide 13: Tanami – Poised for a New Gold Discovery
TANAMI – POISED FOR A NEW GOLD DISCOVERY Limited and ineffective previous exploration ► Historic (2010–12) RC drilling Au intercepts at Watts Rise: – 12m @ 2.94g/t Au from surface – 12m @ 1.50g/t Au from 44m – 16m @ 2.48g/t Au from 60m – 5m @ 6.99g/t Au from surface ► Watts Rise – Au intercepts in R
Slide 14: Right Team, Right Time for Rare Earths
RIGHT TEAM, RIGHT TIME FOR RARE EARTHS Ideal timing to discover and develop new independent sources of supply ASX : PVW PVW RESOURCES | SEPTEMBER 2022 14
Slide 15: Rare Earths Are Critical to Many Industries
RARE EARTHS ARE CRITICAL TO MANY INDUSTRIES ► Underpins the best technology for ► Permanent magnets are essential to critical permanent magnets defence technology ► Permanent magnets are a critical ► Tanami region currently hosts a critical component of the EV future: deposit and processing facility
Slide 16: USA and Australian Governments Throw Money at REE
USA AND AUSTRALIAN GOVERNMENTS THROW MONEY AT REE Biden announces new Lynas Rare Earths (ASX:LYC) Iluka shares soar on WA rare investments in mineral awarded US $120m contract by earths refinery funding production to address supply US Department of Defence Taxpayers will lend $1.05 billion to build
Slide 17: Bringing Balance to the Global Supply Chain
BRINGING BALANCE TO THE GLOBAL SUPPLY CHAIN ► China’s dominance in supply of Heavy REE is over 99% ► Rising geo-political tensions ► Need for ‘green’ production of Heavy REEs — Current production is from Chinese Ionic Clays, which require large quantities of ammonium sulphate for in-situ leaching ►
Slide 18: A Team of REE Experts
A TEAM OF REE EXPERTS Our REE experts, who were involved in the discovery of the Browns Range REE deposits and led Northern Minerals’ from greenfields exploration to production, are ready to do it again, differently. George Bauk, former Northern Robin Wilson, former Northern Colin McCavana, founder
Slide 19: It's Xenotime!
IT’S XENOTIME! ► Mineralogy study has confirmed heavy rare earths are related to the rare earth mineral xenotime (similar to Northern Minerals’ Browns Range project, ~90km north) ► Heavy rare earths comprise on average 80% of TREO for rock chip samples >1% TREO ► Sighter metallurgical testwork under
Slide 20: PVW – Key Takeaways
PVW – KEY TAKEAWAYS ► Tanami Heavy REE project has all the ingredients to be a company-making, globally significant discovery ► Board and management team with first- hand experience in taking a greenfields REE discovery through to production – ready to do it again, differently ► Major drilling campa
Slide 21: Thank You
THANK YOU Scan here to join our mailing list PVW Resources Limited Contacts Level 3, 1138 Hay Street George Bauk West Perth WA, 6005 T: +61 (0)408 931 746 PO Box 300 E: george@totode.com.au West Perth WA, 6872 Media Enquiries – Read Corporate Nicholas Read pvwresources.com.au T: +61 (0)419 929 046 A
Slide 22: Appendices
APPENDICES ASX : PVW 22 PVW RESOURCES | SEPTEMBER 2022 22
Slide 23: Board and Management
BOARD AND MANAGEMENT DAVID WHEELER GEORGE BAUK COLIN MCCAVANA NON-EXECUTIVE CHAIRMAN EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR • David has more than 30 years of Senior Executive Management, • An experienced executive/director with 30 years in the resources • Colin has over 40 years’ experience in th
Slide 24: Exploration with the Aircore Rig Along Strike
EXPLORATION WITH THE AIRCORE RIG ALONG STRIKE Watts Rise Aircore drilling uncovering yttrium anomalism (pXRF) undercover over 4.2km of previously untested strike ► Anomalous pXRF yttrium results to the northwest of Watts Rise along strike, and within targeted structure to the east of Watts Rise. ► A
Slide 25: Defining the Depth of the Plumbing System
3.3 DEFINING THE DEPTH OF THE PLUMBING SYSTEM 2022 drilling program confirms the prospectivity at depth along the Watts Rise – Castella Trend 3 Ground Gravity Surveys ► RC drilling assay results and pXRF results 3 have provided encouraging results and highlight the potential at depth – 3 confirming
Slide 26: Tanami – Under-Explored Gold Province
TANAMI – UNDER-EXPLORED GOLD PROVINCE Callie gold deposit, Newmont (Reserve 33.2Mt @ 5.3g/t Au) is an example of the potential within the Tanami. It is one of the most productive gold mines in Australia. Discoveries pending… ► PVW's tenure straddles prospective stratigraphy and structure ► Majors ha
Slide 27: Early-Stage Similarity to Northern Minerals Journey
EARLY-STAGE SIMILARITY TO NORTHERN MINERALS JOURNEY, EXPLORATION THE KEY TO UNLOCK VALUE Sighter PVW Rock Chip Samples Mineralogy Met Testwork Exploration 2022 underway Oct 2021 Dec 2021 commenced Dec 2021 ~ 10,000M RC ~ 25,000 Aircore Sighter Sold First HRE Rock Chip Maiden Resource Revised Resourc
Slide 28: Permanent Magnet Supply Chain
PERMANENT MAGNET SUPPLY CHAIN CHINA DOMINATES Upstream Midstream Downstream Alloy and Metal Component End-use Exploration Mining Beneficiation Cracking Separation magnet making manufacture manufacture manufacture Intermediate Mixed Dy Oxide DyFe Metal Product Carbonate Tb Oxide Tb Metal PVW RESOURCE
Slide 29: Rare Earth Companies – Market Capitalisations
RARE EARTH COMPANIES – MARKET CAPITALISATIONS ASX Code Based on Market Capitalisations, 1 July 2022 PVW RESOURCES | SEPTEMBER 2022 29
Slide 30: Case Study: Chalice Mining
CASE STUDY: CHALICE MINING (ASX:CHN) STARTED WITH A PORTFOLIO OF EXPLORATION ASSETS IN TIER 1 LOCATIONS AND ARE NOW A >A$3BN COMPANY Exploring for Tier 1 scale discoveries in frontier areas Tight Capital Structure Targeting big discoveries in underexplored provinces in Australia Chalice stra
Slide 31: Other Projects
OTHER PROJECTS Exploring in Tier-1 Jurisdictions ASX : PVW PVW RESOURCES | SEPTEMBER 2022 31 31
Slide 32: Project Pipeline
PROJECT PIPELINE 3. Leonora Region Top 10 most prospective Au region globally and over 12 million Au ounces produced 4. West Yilgarn Region • Jungle Well & Brilliant Well Projects Ballinue Project is located in the Ni-Cu-PGE province that hosts • Small gold resource at Jungle Well with Chalice’s Jul
Slide 33: Kalgoorlie
KALGOORLIE New ground, results and targets ASX : PVW PVW RESOURCES |DECEMBER SEPTEMBER2021 2022 33
Slide 34: Kalgoorlie – King of the West Exploring Under Cover
KALGOORLIE – KING OF THE WEST EXPLORING UNDER COVER King of The West auger +50ppb Au anomaly The main 2km long anomaly is 8km southeast from Golden Cities operations: Havana, Federal and Jakarta open pits. ► Located over major structures, including the hinge-line which defines the Scotia – Kanowna A
Slide 35: Leonora
LEONORA Opportunities to grow and discover ASX : PVW PVW RESOURCES | SEPTEMBER 2022 35
Slide 36: Leonora – Significant Upside
LEONORA – SIGNIFICANT UPSIDE Brilliant Well Project, significant upside along underexplored greenstone belt ► Brilliant Well Project – Regional Aircore and targeted RC. Reporting of results pending Jungle Well – continuous tenure over ~15km strike ► Jungle Well – open along strike and down dip ► Two
Slide 37: Ballinue
BALLINUE VTEM and Surface Sampling in 2022 ASX : PVW PVW RESOURCES | SEPTEMBER 2022 37
Slide 38: Ballinue – Ni-Cu-PGE Project
BALLINUE – NI-CU-PGE PROJECT PVW has made three exploration licence applications in the highly prospective West Yilgarn Ni-Cu-PGE Province. ► This area was target following continued success by numerous explorers such as Chalice Mining, Pursuit Minerals, Caspin Resources, Todd River Resources and De
Slide 39: Thank You
THANK YOU Scan here to join our mailing list PVW Resources Limited Contacts Level 3, 1138 Hay Street George Bauk West Perth WA, 6005 T: +61 (0)408 931 746 PO Box 300 E: george@totode.com.au West Perth WA, 6872 Media Enquiries – Read Corporate Nicholas Read pvwresources.com.au T: +61 (0)419 929 046 A
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