Ausquest Limited · ASX:AQD
Ausquest — Shareholder Meeting (November 2022)
23 slides from Ausquest's shareholder meeting presentation, Nov 22, 2022
Slide 1: MD Presentation AGM 2022
A USQ UEST L I M I T E D ( A S X : A Q D ) For personal use only Plan – H1 2023 Drilling at Balladonia to test BHT (Ag-Pb-Zn-Cu) targets Drilling at Jubilee Lake to test Noril’sk (Ni-Cu-PGE) concept Surveys at Morrisey to upgrade (Ni-Cu-PGE & Fe?) targets Assess drill results + next steps at Peru (C
Slide 2: Disclaimers
DISCLAIMERS For personal use only 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
Slide 3: Capital Structure
C A P I TA L S T R U C T U R E AusQuest Limited Significant Shareholder For personal use only 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 1.70% Top 20 (
Slide 4: Strategic Alliance Agreement
Strategic Alliance Agreement For personal use only • SAA with South32 active until the end of 2023 • Currently 6 projects under the SAA – 4 Aust, 2 Peru • All funding provided for selected Projects • Work programs & budgets agreed with South32 • US$4.5M spend earns 70% equity for each project • AQD
Slide 5: Projects in Western Australia
P R O JEC T S I N W EST A U ST R AL I A Three Projects under the SAA For personal use only • Balladonia – drilling identified potential for BHT &/or IOCG deposits similar to those found in NW Qld & at Broken Hill • Morrisey – Recce drilling identified potential host rocks for Ni-Cu-PGEs & magnetite
Slide 6: Balladonia – Drilling in 2022 identifies potential new base metal province
B ALLAD O N I A – D R I LLI N G IN 2022 ID EN T IFIES PO T EN T IAL N EW BASE METAL PR O VIN C E • Drilling at Tea Tree tested strike extensive For personal use only magnetic/gravity stratigraphy containing anomalous Pb, Zn, Mo, Sn & Cd • Further drilling planned to test along strike & at depth belo
Slide 7: Balladonia – Numerous BHT &/or IOCG targets to test
B ALLAD O N IA – N U M ER O U S BH T &/ O R I O C G TAR G ET S TO T EST • Similar age, geological setting and metamorphic grade to other BHT Terranes world-wide For personal use only • BHT Terranes are very scarce in a global context – when you find one, explore it! • Numerous targets for BIF relate
Slide 8: Morrisey Ni-Cu-PGE (Fe?) Project
M O R R ISEY N i - C u - PG E ( F e ? ) PR O JEC T • Julimar highlights new potential Ni-Cu-PGE Province along western margin of Yilgarn For personal use only • Drilling in 2022 (3 holes) identified potential Julimar Ni-Cu-PGE host rocks at each prospect & magnetite potential at Waterfall & Sandfly
Slide 9: Bilgar Rocks – Ni-Cu-PGE potential inferred from 2022 drilling
For personal use only B I L G A R O C KS – N i- C u - PG E PO T EN T I AL I N F ER R ED F R O M 2 0 2 2 D R I L L I N G Potential U/M BIF Host rocks Meta-Gabbro Sulphur Saturation in Gabbro Ni-Cu-PGE Sulphides? BIF • Evidence of S saturation within gabbro suggests ultramafics within 0 1km complex (m
Slide 10: Waterfall Prospect – Untested iron (magnetite) potential
W AT ER FALL PR O SPEC T – U N T EST ED I R O N ( M AG N ET ITE) PO T EN T I AL • High Fe (>30%) over apparent thicknesses >60m due to coarsely crystalline For personal use only magnetite 30% Fe • Met test-work in progress to determine potential for high grade product (>65%Fe) & recoveries before fu
Slide 11: Jubilee Lake – Ni-Cu-PGE Prospect – a Noril'sk analogue?
J U BILEE LAKE – N i- C u - PG E PR O SPEC T – A N O R I L’SK AN AL O G U E? • EM identified a large deep (~600m) flat lying conductor adjacent to the Rodona Shear – a potential feeder fault to the For personal use only extensive flood basalts in the area • Geological analogies with the large scale
Slide 12: Moora Ni-Cu-PGE Project – Latham Intrusion (?)
For personal use only M O O R A N i - C u - PG E PR O JEC T – LAT H AM IN T R U SION (?) • Latham Prospect contains strong discrete magnetic target similar to the Gonneville intrusion at Julimar • Recce soil-auger geochem implies buried mafic/ultramafic complex with more ultramafics in the north • L
Slide 13: Hamilton North Copper Project (Qld) – Drilling 2022
H AMILTON N O RT H C O PPER PR O JEC T ( Q L D ) – D R I L L I N G 2 0 2 2 • Drilling tested discrete magnetic and gravity anomalies under cover at the Hamilton For personal use only North Prospect EM Model • The intersected BIF sequence is mineralised but Cu grades are relatively low (max 0.8% Cu)
Slide 14: Hamilton (Qld): Copper-Gold Project
H AMILTON ( Q LD ) : C O PPER - G OLD PR O JEC T • 30km long belt with untested magnetic targets beneath ~200m of cover For personal use only • Further programs to be considered under the SAA Hamilton 166Mt @ 1.1%Cu 0.54gptAu 79Mt @ 260gptAg 7.9%Pb, 5.4%Zn 36Mt @ 2.0%Cu 1.0gptAu 14
Slide 15: Southern Peru Projects – Copper Country
For personal use only S O U T H ER N PER U PR O JEC T S – C O PPER C O U N T RY • Major copper producing region of Peru – true elephant country • RC drilling (3387m) at Parcoy increased Cu footprint • Assay results from Pirata (CDF) drilling (~7000m) expected over coming months • Five large porphyry
Slide 16: Parcoy Copper Project – Drill Results 22
P AR C O Y C O PPER PR O JEC T – D R I L L R ESU LT S - 2 0 2 2 • Wide spaced RC drilling (10 For personal use only holes /3387m) in 2022 • Anomalous Cu extended over strike length of Porphyry prospect (>5km) Target Area • Significant alteration zone (AAA) dips to the N-NE (~10 to 20°) • AAA implies
Slide 17: Parcoy – Schematic long section showing alteration zone (Lithocap)
P AR C O Y – SC H EMAT IC L O N G SEC T I O N SH O WI N G ALT ER AT I ON Z O N E ( L I T H OCAP) NW SE Mo/Mn Mo/Mn Mo/Mn Mo/Mn Mo/Mn Mo/Mn For personal use only Potassic (K) Alteration Geochem and clay 230m mineralogy confirms AAA presence of AAA zone & implies porphyry (Cu?) Sericite system located
Slide 18: Parcoy – Schematic long section showing alteration zone & Cu distribution
P ARCOY – SCHEMATIC LONG SECTION SHOWING ALTERATION ZONE & CU DISTRIBUTION NW SE Cu ppm Cu ppm Cu ppm Cu ppm Cu ppm Cu ppm For personal use only Potassic (K) Alteration AAA zone is low in Cu as expected, but widespread Cu AAA above & below alteration implies a significant(?) Cu source in the area. S
Slide 19: Porphyry Schematic Model (Simplified)
P O R PH YRY SC H EM AT I C M O D EL ( Sim p lif ie d ) Mineralogy Geochemistry Kms? For personal use only Kms? Geochemistry Current Erosion Level Current Erosion Level at Parcoy at Parcoy Anomalous As > 50ppm Bi > 1ppm Te > 1ppm W > 5ppm Mo >5ppm After S Halley After S Halley After S Halley • Litho
Slide 20: Cerro de Fierro East (Pirata) – Porphyry copper drilling targets
C ER R O D E F IER R O EAST ( PI R ATA) – PO R PH YRY C O PPER D R I L L I NG TAR G ET S For personal use only • Porphyry Cu indicators identified in at least 4 locations • Priority targets occur within prospective structural domain • RC drilling (~7000m) commenced in October – assays expected by mi
Slide 21: Pirata Project RC Drilling Operations (2022)
For personal use only P I R ATA P R O J E C T RC DRILLING O P E R AT I O N S ( 2 0 2 2 ) 21
Slide 22: AusQuest – Exploration Plans H1 2023
A U SQ U EST – EXPL O R AT I O N PL AN S - H 1 2 0 2 3 Projects Nov Dec Jan Feb Mar April May June For personal use only Balladonia (SAA) Gravity ✓ Planning & Access Prep ✓ Diamond Drill ✓ Ni-Cu-Pb-Zn-Ag – WA Morrisey (SAA) Assess Planning✓ Target identification - EM / IP ✓ Drilling Access ? Ni-Cu-P
Slide 23: Contact
C O N TA C T For personal use only 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 23