Orpheus Uranium Limited · ASX:ORP
Orpheus Uranium — Investor Presentation (June 2021)
19 slides from Orpheus Uranium's investor presentation, Jun 10, 2021
Slide 1: Investor Update
INVESTOR UPDATE LUMWANA WEST, ZAMBIA Resource drilling with exploration upside MURDIE, SOUTH AUSTRALIA Massive iron oxide-copper-gold targets LINDSAY OWLER, Director/CEO – June 2021 Argonaut Resources NL • ASX:ARE Level 6, 100 Pirie Street, Adelaide, SA, 5000 • argonaut.com.au
Slide 2: Introducing Argonaut
INTRODUCING ARGONAUT Argonaut Resources NL is an ASX-listed company focused on: • developing its Lumwana West copper-cobalt project in Northwestern Zambia; and • exploring its 100% owned Murdie iron oxide copper-gold (IOCG) targets in South Australia. Argonaut invests in copper exploration and devel
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS Tier one copper exploration assets Lumwana West, Zambia Murdie, South Australia • Copper-cobalt deposit confirmed by 50+ • Iron oxide copper-gold (IOCG) targets in drill holes. Olympic Dam geological domain. • Deposit sits between Barrick and First Quantum • Targets nearby to O
Slide 4: Corporate Overview
CORPORATE OVERVIEW ASX Code ARE Capital structure Share price: A$0.01 (7 June 2021) Shares on issue: 2,912,870,000 Market capitalisation: A$29 million (7 June 2021) Liquidity 9.1 million shares/day Cash (31 March 2021) A$2,750,000 Debt Nil Directors Pat Elliott Non-Executive Chairman Lindsay Owler D
Slide 5: Lumwana West, Zambia
LUMWANA WEST, ZAMBIA Copper and cobalt NYUNGU COPPER- 350,000 mE 400,000 mE DEMOCRATIC Location COBALT DEPOSIT REPUBLIC OF CONGO Z AM B IA y Numerous adjacent and ZAMBIA regional copper targets. Kansanshi First Quantum Minerals y Surrounded by three major copper mines. 8,650,000 mN Solwezi Lumwana y
Slide 6: Nyungu Copper-Cobalt Deposit and surrounding targets
338,000 mE 340,000 mE 342,000 mE NYUNGU COPPER-COBALT DEPOSIT NYUNGU NORTH And surrounding targets 8,632,000 mN • NYUNGU CENTRAL: deposit is defined by over 50 drill holes. A significant mineralised 61m at 0.42% Cu from 184m copper deposit with strong potential for extensions. NYUNGU CENTRAL Demonst
Slide 7: Nyungu Copper-Cobalt Deposit: Exploration target
NYUNGU COPPER-COBALT DEPOSIT Exploration target Commodity Tonnage Grade Contained Metal Range Range Range (Mt) (%) (kt) Copper* 130 to 180 0.45 to 0.65 580 to 1,150 Cobalt^ 15 to 20 0.08 to 0.12 12 to 24 * Copper Exploration Target estimation announced to the ASX by Argonaut on 9 April 2013. ^ Cobal
Slide 8: Nyungu Copper-Cobalt Deposit: Long section – copper
NYUNGU COPPER-COBALT DEPOSIT Long section – copper 1700m 0RL OPEN 200RL OPEN 400RL Nyunga Copper-Cobalt Deposit 0 200 metres 400 Long section 339,200mE Looking east Nyunga 11 INVESTOR UPDATE • JUNE 2021 8
Slide 9: Nyungu Copper-Cobalt Deposit: Cross sections – copper
NYUNGU COPPER-COBALT DEPOSIT Cross sections – copper 339,100mE 339,200mE 339,300mE 339,400mE 339,500mE 339,100mE 339,200mE 339,300mE 339,400mE 339,500mE 339,200mE 339,300mE 339,400mE 339,500mE 339,600mE West East West East West East Natural surface Natural surface Natural surface Soil and duricrust
Slide 10: 2021 indicative drilling program
NYUNGU COPPER-COBALT DEPOSIT 2021 indicative drilling program Exploration Drilling y 1,600m of diamond drilling y 5 drill holes y Targeting extensions to Nyungu Central and Nyungu South Resource Drilling y 1,200m of diamond drilling y 30 drill holes y Targeting near-surface copper oxide mineralisati
Slide 11: Metallurgical testwork program
NYUNGU COPPER-COBALT DEPOSIT Metallurgical testwork program Argonaut is testing the metallurgical properties of Saleable concentrate oxide, transitional zone and produced at 25.6% copper fresh (sulphide) ores. at 87% recovery. This information is driving process flowsheets and scoping project econom
Slide 12: Conceptual processing flowsheets
NYUNGU COPPER-COBALT DEPOSIT Conceptual processing flowsheets Stage 1 - Oxide/transition ore Mining and crushing Heap leach SX-EW Potential for low cap-ex, near-term copper Copper ore Copper cathode production from oxide and transitional zone Stage 2 - Fresh ore Mining and crushing Milling Flotation
Slide 13: Murdie Project, South Australia
136° 30' E 137° 00' E 137° 30' E 138° 00' E MURDIE PROJECT, SOUTH AUSTRALIA -30° 00' S Copper Olympic Domain y Tier-one geological address. EL 6320 y Massive anomalies will multiple Andamooka Olympic Dam -30° 30' S deposit-scale target zones. LAKE TORRENS Roxby Downs Red Dam EL 6320 Acropolis Wirrda
Slide 14: Murdie Project: West Lake Torrens anomaly
MURDIE PROJECT West Lake Torrens anomaly 5 750,000m E 755,000m E 760,000m E 750,000m E 755,000m E 760,000m E . - 0 0 - 6 . 1 5 0 - EL 5937 West Lake Torrens EL 5937 West Lake Torrens Nearshore targets 8 - - Offshore targets 1 6 6 0 6,570,000m N 6,570,000m N . - 5 2 7 5 - . 0 . 0 - 7 5 7 - Gravity hi
Slide 15: Murdie Project: Drilling
MURDIE PROJECT Drilling y The first hole of the current program, WLTD001, at Smith Dam 1 intercepted an IOCG alteration system. y The intensity of alteration indicates WLTD001, 897-899m, Murdie Project: IOCG- that WLTD001 is 300 to style hematite alteration and brecciation. 1,000m from possible copp
Slide 16: Appendix
APPENDIX INVESTOR UPDATE – June 2021 APPENDICES Argonaut Resources NL • ASX:ARE • JUNE 2021 • APPENDICES Level 6, 100 Pirie Street, Adelaide, SA, 5000 www.argonaut.com.au 16
Slide 17: Drilling concepts – copper
NYUNGU COPPER-COBALT DEPOSIT Drilling concepts – copper Hole From (m) To (m) Interval (m) Cu (%) Hole From (m) To (m) Interval (m) Cu (%) NYU11RD001 63 90 27 0.51 NYRD031 26 58 32 0.46 and 184 245 61 0.42 including 40 55 15 0.71 and 209 222 13 0.80 77.00 83.10 6.10 0.66 and 274 284 10 0.81 and 157 1
Slide 18: Drill intercepts – cobalt
NYUNGU COPPER-COBALT DEPOSIT Drill intercepts – cobalt Hole From (m) Interval (m) Co (%) Cu (%) NYU11RD001 37 120.0 0.06 0.34 including 104 26.0 0.13 0.28 NYU11RD010 155 72.0 0.08 0.61 including 167 38.0 0.10 0.91 NYU11RD013 31 1.0 0.56 0.57 NYU11RD022 12 88.2 0.07 0.47 including 42 10.0 0.19 0.61 N
Slide 19: Project sensitivity to economic factors
NYUNGU COPPER-COBALT DEPOSIT PROJECT Very SENSITIVITY low stripping ratio TO ECONOMIC FACTORS Whittle Pit shells Pits 100% Pit Shell Section A:A A A N North 100% Pit Pit Shell • The pit optimisation has Section B:B y Stripping ratio generated a single main 1.5:1 to north pit to the 280m and smaller