Slide 1: Developing the Salazar Critical Minerals Project
May 2024 – INVESTOR PRESENTATION Developing the Salazar Critical Minerals Project
Slide 2: Disclaimer
WEST COBAR METALS Disclaimer This document has been prepared by West Cobar Metals Ltd (“West Cobar”) in connection with providing an overview of its business to interested parties/analysts/investors. This presentation is being provided for the sole purpose of providing preliminary background informa
Slide 3: Corporate Snapshot
WEST COBAR METALS Corporate Snapshot Capital Structure Share Price and Volume Total number of shares currently on issue 122,300,331 Options on issue 34,083,334 Performance Rights on issue 4,000,000 Share Price (at 30 April 2024) $0.039 Market Cap (undiluted) $4.8m Cash Balance (at 31 March 2024) $1.
Slide 4: Overview
WEST COBAR METALS Overview ▪ The Salazar Project, near Esperance in southern Western Australia is a unique mix of high grade critical minerals in saprolite clays near surface Scandium: 12 Mt of 103 ppm Sc Inferred JORC (2012) Mineral Resource # Wide spread high-grade zones, eg 13m of 207ppm Sc from
Slide 5: All on the Critical Minerals List
SALAZAR PROJECT All on the Critical Minerals List (Department of Industry, Science and Resources, 20 Feb 2024) Significant intersections of Gallium near surface, Australian Critical Mineral List Salazar Indicative Market Prices for example Antimony 18m@44g/t Ga from 4m (NSA119) **** Arsenic Berylliu
Slide 6: Extensive Landholding in Prime Location
SALAZAR PROJECT Extensive Landholding in Prime Location ▪ The Salazar Project consists of the Newmont deposit, the O’Connor deposit plus significant exploration areas ▪ Extensive tenement area of 1,171km2 in highly prospective location over unallocated state land ▪ Greenfield exploration at Lanthano
Slide 7: Scandium at Newmont
SALAZAR PROJECT Scandium at Newmont Maiden JORC (2012) Mineral Resource Estimate* Cut-off Saprolite Tonnes Sc TREO Category Ti % TiO2 % (Sc ppm) Zone (Mt) ppm ppm Inferred TREO>=600 8 103 1,192 3.18% 5.30 75 Inferred TREO<600 4 103 415 2.61% 4.35 Total* 12 103 915 2.97% 4.95 • Widespread scandium mi
Slide 8: Scandium
SALAZAR PROJECT Scandium Above: Example of large scale advanced 3D printing facility at Relativity Space factory in USA (www.relativityspace.com). Scandium enables 3D aluminium alloy printing. Below: Example of high tech potential usage of Solid Oxide Fuel Cells for space applications (ntrs.nasa.gov
Slide 9: Scandium Prices and Uses
SALAZAR PROJECT Scandium Prices and Uses Introduction to Scandium Major Use - Aluminium Alloys • Used in aluminium alloys, Solid Oxide Fuel • “By mixing scandium with aluminium, you can make some aluminium alloys even stronger, Cells, aerospace, defence, lighting, ceramics, more flexible, and more r
Slide 10: Newmont JORC Resources
SALAZAR PROJECT Newmont JORC Resources Exploration Targets*** (inc JORC Resources) RARE EARTH ELEMENTS * Cut-off Tonnes TREO Pr6O11 Nd203 Dy203 Tb407 (TREO Category (Mt) (ppm) ppm ppm ppm ppm ppm) 800Mt to 1,250Mt Indicated 39 1216 51 206 36 6.1 at 1,050ppm TREO to 1,350ppm TREO 600 Inferred 44 1029
Slide 11: Upcoming Drilling - Newmont Extension Potential
SALAZAR PROJECT Upcoming Drilling - Newmont Extension Potential ▪ Drilling program scheduled to commence in Q2 2024 ▪ High potential for extension of Newmont REE, TiO2, Al2O3 and scandium mineralisation along tightly folded amphibolite trend ▪ Amphibolite at Newmont derived from alkali mafic related
Slide 12: Flowsheet
SALAZAR PROJECT Flowsheet • Historical and recent testwork has shown positive metallurgical results for beneficiation and recovery of valuable critical minerals within Salazar * • Conceptual flowsheet has now been established, next step is validating it with three major product streams • Products ar
Slide 13: Metallurgy & Studies
SALAZAR PROJECT Metallurgy & Studies Comprehensive historical and recent metallurgical testwork* with ANSTO, Nagrom, Amdel, CSIRO and University of Newcastle has led to the development of the current co-product flowsheet. Substantial metallurgical testwork is underway with a renewed focus on the ava
Slide 14: Cobar West Project
Cobar West Project 14
Slide 15: Cobar West Project
NEW SOUTH WALES Cobar West Project QUEENSLAND o Bulla Park – prospective for large copper discovery, hole (19CA002) intersected 33m @ 0.45% Cu* o Major mineralised system, at least 3km x 3km of copper – antimony – lead mineralisation, alteration, hydrothermal brecciation NANTILLA Cobar o IP and Diam
Slide 16: Planned Activity and Next Steps
WEST COBAR METALS Planned Activity and Next Steps Q2 2024 Q3 2024 Q4 2024 Salazar Drilling (Newmont and O’Connor extensions) SALAZAR PROJECT (WA) Updated REE, TiO2 & scandium Resource Estimations Potential Drilling (Lanthanos) Flowsheet Validation Testing Nagrom – Ti, Sc, REE Scandium Met Program Sc
Slide 17: Highly Experienced Team with a Strong Track Record
BOARD AND MANAGEMENT Highly Experienced Team with a Strong Track Record Mark Bolton David Pascoe (B.Sc (Hons), M.Sc) Non-Exec Chairman Head of Technical and Exploration ▪ 30+ years of experience in the resources sector. ▪ Geologist with 30+ years experience worldwide ▪ Mark was a Director at Ernst &
Slide 18: Get in touch
CONTACT Get in touch Matt Szwedzicki | Managing Director ms@westcobarmetals.com.au +61 9287 4600 Luke Forrestal | GRA Partners Luke.forrestal@grapartners.com.au +61 411 479 144 ASX | WC1 18
Slide 19: Additional Information on Salazar Project
Additional Information on Salazar Project 19
Slide 20: Newmont Rare Earth Elements
SALAZAR PROJECT Newmont Rare Earth Elements Cut-off Tonnes TREO Pr6O11 Nd203 Dy203 Tb407 (TREO Category (Mt) (ppm) ppm ppm ppm ppm ppm) Indicated 39 1216 51 206 36 6.1 600 Inferred 44 1029 46 180 29 5.1 Total* 83 1117 48 192 33 5.6 ▪ Newmont is a substantial high grade clay deposit overlying an amph
Slide 21: Titanium Dioxide at Newmont
SALAZAR PROJECT Titanium Dioxide at Newmont Cut-off Saprolite Ti TiO2 TREO Fe FeO Category Mt Ti % Zone % % ppm % % Inferred TREO >=600 20 3.1 5.2 1,183 8.9 11.4 2 Inferred TREO <600 9 2.8 4.7 428 10.2 13.1 Total 29 3.0 5.0 942 9.3 12.0 Above: Titanium Dioxide (source: Britannica.com) ▪ Titanium has
Slide 22: High Purity Alumina at Newmont
SALAZAR PROJECT High Purity Alumina at Newmont Cut-off Saprolite Al Al2O3 TREO Fe K Si Category Mt Al (%) Zone % % ppm % % % Inferred TREO>=600 2 15.6 29.5 909 4.22 0.25 20.1 15 Inferred TREO<600 2 15.7 29.6 276 2.84 0.21 22.6 Total 4 15.6 29.6 657 3.67 0.23 21.1 Above: Saprolitic clay from SAC373 u
Slide 23: O’Connor Deposit
SALAZAR PROJECT O’Connor Deposit Magnet Rare Earths Cut-off Tonnes TREO (TREO Status Pr6O11 Nd2O3 Dy2O3 Tb4O7 (Mt) (ppm) ppm) ppm ppm ppm ppm 600 Inferred 107 1216 61 195 11 2.3 ▪ O’Connor deposit has a high grade resource of 107 Mt of 1216 ppm TREO (Inferred Resource)* - met work ongoing ▪ Substant