Ausquest Limited · ASX:AQD
Ausquest — Shareholder Meeting (November 2023)
21 slides from Ausquest's shareholder meeting presentation, Nov 21, 2023
Slide 1: AusQuest Limited AGM 2023 MD Presentation
A USQ UEST L I M I T E D ( A S X : A Q D ) District Scale Base Metal Opportunities at Balladonia Premium Grade Magnetite Discovered at Morrisey New Porphyry Copper Discovery at Cangallo (Peru) High Grade Copper Located at Pirata (Peru) SAA Extended for a Further 2 years – Focus on Australia (Li and
Slide 2: Disclaimers
DISCLAIMERS Forward-Looking Statements This presentation contains forward looking statements concerning the projects owned by AusQuest Limited. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on specific ass
Slide 3: Strategic Alliance Agreement
Strategic Alliance Agreement • SAA with South32 now active until the end of 2025 • Commodities include Cu-Pb-Zn, Ni, Li, REE • Funding to focus on selected Projects in Australia (4+) • Work programs & budgets agreed with South32 • US$4.5M spend earns 70% equity for each project • AQD manages program
Slide 4: Projects in West Australia
P R O JEC T S I N W EST A U ST R AL I A Four Projects under the SAA • Balladonia – 7 targets drilled (10holes / 3677m) in 2023. Prospective BHT host rocks confirmed (at 5 of 7 targets) over extensive areas - Carbonatites identified – rare earth potential? • Morrisey – Premium magnetite discovered at
Slide 5: Balladonia – Drilling Summary
B ALLADONIA – Drilling Summary • 10 diamond holes completed for 3677m in 2023 – single hole tests in 5 of the areas tested • Prospective BHT sequence for Zn- Pb-Cu recognized at Tea Tree, Tea Tree North, Telegraph West, Halfway & Halfway West - >30km of prospective strike to test • Carbonatite intru
Slide 6: Balladonia – Tea Tree BHT Prospect – Drill Results
B ALLADONIA – Tea Tree BHT Prospect – Drill Results Gravity contours on TMI • Linear magnetic highs reflect BIFs (Q-G-M rocks) which form important part of prospective host stratigraphy for BHT deposits – strike extensive (>30km) 23DD020 • Lode horizon defined by elevated Pb, Zn, Sn, Cd, within Lode
Slide 7: Balladonia – Carbonatites (REE, B/M Potential?)
B ALLADONIA – Carbonatites (REE, B/M Potential?) • Reprocessed magnetics highlighted a new target reflecting a possible deeply weathered carbonatite or IOCG target • The strong magnetic response is large in area (>10km²) and coincides with a major domain bounding structure • Anomalous REEs occur wit
Slide 8: Balladonia – BHT & Carbonatite Prospects
B ALLADONIA – BHT & Carbonatite (REE?) Prospects • Large areas of prospective stratigraphy for BHT deposits defined by aeromagnetic data & confirmed by drilling • Limited testing to date with initial emphasis on confirming prospectivity of the region • Numerous carbonatite targets interpreted in the
Slide 9: Morrisey – Waterfall Magnetite Prospect
M ORRISEY – Waterfall Magnetite Prospect Planned RC Drilling Waterfall – T4 Davis Tube Recovery >42m @ 71%Fe Project Location Sandfly –T3 Davis Tube Recovery >18m @ 71%Fe Target 2 SG Fe % K SI RC01 RC01 2.71 3.07 6.55 12.09 27 6924 • DTR highlights potential for RC01 3.05 13.1 7448 premium grade pro
Slide 10: Morrisey – Bilga Sth, Toola, Deep Bore Drilling
M ORRISEY – Bilga Sth, Toola, Deep Bore Drilling • Strong magnetic & gravity targets infer Waterfall – T4 potential for further magnetite resources similar to Waterfall Sandfly –T3 • RC drilling planned to confirm cause of anomalies ahead of further testing • Flexible RC drill program with 1 to 3 Ta
Slide 11: Moora Ni-Cu-PGE Project – Latham Intrusion
M OORA Ni-Cu-PGE PROJECT – LATHAM INTRUSION 23LRC02 Section 6704900N Magnetic Model Gabbro Ultramafic? • Ultramafic rocks (preferred host Ni-Cu-PGE) likely within Latham Intrusion to explain mag & soil geochem anomalies • Comparisons with Julimar suggest higher priority for Ni-Cu-PGE in the north wh
Slide 12: Jubilee Lake – Ni-Cu-PGE Prospect
J UBILEE LAKE – Ni-Cu-PGE PROSPECT – A Conceptual NORIL’SK Target Heritage Clearances needed for drilling to commence • Geological analogies with the large Ni bearing intrusions at Noril’sk (Russia) are possible • EM identified large deep (~600m) conductor adjacent to Rodona Shear (possible feeder f
Slide 13: Southern Peru – AQD Projects within World Class Copper Province
S OUTHERN PERU – AQD Projects within World Class Copper Province • Projects on the Coastal Belt close to infrastructure & water – Targets under cover • Main focus is Cerro de Fierro area where AQD has strong land position over ~50km prospective strike • Up to 8 porphyry Cu &/or IOCG targets are at d
Slide 14: District Scale Copper Potential Identified
D istrict Scale Copper Potential Identified Simplified INGEMMET 1M Geology • Projects are located within Parcoy an E-W structural corridor, over a 50km strike length, close to the coast • A mixture of Porphyry Cu and IOCG (Manto) targets • Drill permitting in progress 50km for priority targets at Ca
Slide 15: Cangallo – Large Scale Porphyry Cu Target
C ANGALLO – Large Scale Partially Exposed Porphyry Cu (Mo) Target • Surface sampling has outlined large areas Sediment cover with anomalous Cu &/or Mo within a caldera-like structure • Cu is associated with sericite & K alteration in volcanics & intrusions implying porphyry style mineralisation Coll
Slide 16: Cerro de Fierro – Iron-Oxide Copper-Gold Target
C ERRO DE FIERRO – Iron-Oxide Copper -Gold (Manto) Target • Data review highlights ‘area of critical neglect’ not tested by initial drill programs • Comparisons with Mina Outline of Mina Justa Upper Orebody Justa deposit suggests (337Mt @ 0.76% Cu) structural control critical • Cu-Au mineralisation
Slide 17: Cerro de Fierro (Pirata) – Porphyry Copper Drilling
C ERRO DE FIERRO (PIRATA) – PORPHYRY COPPER DRILLING (2022) • Reconnaissance drilling at 3 targets indicates potential porphyry Cu targets offset from current drill sites • AA Alteration controlled by dip of permeable volcanic SW NE layers – Target down dip? • Strong Cu anomaly recently Bi-Te define
Slide 18: Cerro de Fierro – Lantana Porphyry Copper Target
C ERRO DE FIERRO – LANTANA Porphyry Copper Target • Presence of advanced 1.07 2.37 = % Cu argillic alteration (lithocap) implies preserved porphyry 1.56 3.34 nearby 5.68 0.85 • Highly anomalous Cu (%s) 1.20 0.84 1.75 marginal to the lithocap 1.09 suggests porphyry is mineralised • Pathfinders (Mo, B
Slide 19: AusQuest – Exploration Plans – 6 months
A USQUEST – EXPLORATION PLANS – 6 months Projects Nov Dec Jan Feb Mar April May Balladonia (SAA) VTEM Survey ✓ Assess results ✓ NT Clearance & Ni-Cu-Pb-Zn-Ag – WA (Target definition) On-ground follow-up? Drilling Approvals ? Morrisey (SAA) NT Clearance & Approvals Planning & Access RC Drilling ✓ Ni-
Slide 20: Capital Structure
C A P I TA L S T R U C T U R E AusQuest Limited Significant Shareholder Chris Ellis (NED) 21.20% ASX Code AQD Directors (Incl C.E.) 24.10% Shares on Issue 825.1 million Altor Capital Management Pty Ltd 3.63% Options on Issue (unlisted) 95.5 million Asuper Pty Ltd 1.82% Top 20 (approx) 49.71% Market
Slide 21: Contact
C O N TA C T A USQ UEST L I M I T E D Graeme Drew Managing Director 8 Kearns Cres, Ardross, WA, 6153 Tel: +61 (8) 9364 3866 Email: graeme@ausquest.com.au www.ausquest.com.au AUSQUEST_LTD AUSQUEST_LIMITED 21