Tesoro Gold Ltd · ASX:TSO
Tesoro Gold — Investor Presentation (April 2023)
24 slides from Tesoro Gold's investor presentation, Apr 4, 2023
Slide 1: Phase 1 Open Pit Scoping Study Presentation
For personal use only PHASE 1 OPEN PIT SCOPING STUDY PRESENTATION EL ZORRO GOLD PROJECT, CHILE APRIL 2023 ASX:TSO | OTCQB:TSORF Tesoro Gold (ASX:TSO | OTCQB:TSORF) | CORPORATE PRESENTATION
Slide 2: Disclaimer
DISCLAIMER This presentation and any accompanying verbal presentation (together the Presentation) are confidential and have been prepared by Tesoro Gold Limited (Tesoro or the Company) and approved by the Board of the Company. The information contained in the Presentation (Information) is summary on
Slide 3: Rapid Growth and Advancement of the El Zorro Gold Project
TESORO GOLD LIMITED RAPID GROWTH AND ADVANCEMENT OF THE EL ZORRO GOLD PROJECT Au $$ For personal use only Au Cu/Fe Cu Cu/Au LOCATION RESOURCE GROWTH Large surface Increased and Further gold footprint on upgraded unlocking a 570km2 of 1.3 Moz1 Ternera district scale tenure Gold Deposit gold system Co
Slide 4: Unlocking El Zorro's Full Potential: Dual Track Advancement Strategy
UNLOCKING EL ZORRO’S FULL POTENTIAL DUAL TRACK ADVANCEMENT STRATEGY For personal use only DEVELOPING DISTRICT TERNERA DISCOVERIES REFINE THE DEVELOPMENT CONFIRM CONTINUITY OUTSIDE PATHWAY TERNERA Economic assessment, Define ounces outside of the existing planning and permitting Ternera deposit CONTI
Slide 5: Corporate Snapshot
CORPORATE SNAPSHOT TESORO GOLD (ASX: TSO, OTCQB:TSORF) For personal use only Capital structure Board and management Share price1 A$0.027 Zeffron Reeves Managing Director Shares on issue2 1,053.5 M Linton Putland Executive Director Performance rights2 73.41 M Geoff McNamara Non-Executive Director Lis
Slide 6: Ternera Gold Deposit Phase 1 Open Pit Scoping Study Outcomes
TESORO GOLD LIMITED EL ZORRO GOLD PROJECT, CHILE For personal use only SCOPING STUDY Ternera Gold Deposit Phase 1 Open Pit Scoping Study Outcomes A simple, robust gold project with conventional mining and metallurgy, located close to key infrastructure in a well- established, supportive mining juris
Slide 7: Phase 1 Open Pit Scoping Study Highlights
PHASE 1 OPEN PIT SCOPING STUDY HIGHLIGHTS TECHNICALLY AND FINANCIALLY ROBUST GOLD MINING AND PROCESSING1 For personal use only MINE SCHEDULE MINING PHYSICALS STANDARD CIP PLANT 17.1 Mt at 1.25 g/t gold 2.4 Mtpa throughput 94.5% gold recovery Initial open pit mine For initial 8-year operating life Si
Slide 8: Detailed Study Outcomes
PHASE 1 OPEN PIT SCOPING STUDY HIGHLIGHTS DETAILED STUDY OUTCOMES For personal use only Key parameter (± 35%) Unit Study estimate Ore throughput Mt 17.1 Gold grade g/t 1.25 Production ounces koz 651 Plant throughput Mtpa 2.4 Average annual steady state production koz pa 93 STARTER PIT VALUE UPSIDE P
Slide 9: Substantial Potential Upside Drivers
SUBSTANTIAL POTENTIAL UPSIDE DRIVERS IMMEDIATE POTENTIAL FOR PRODUCTION EXPANSION For personal use only 1. Further 170 koz Au available within optimised pit shell: Additional ounces residing between base of the Scoping Study pit design and optimal pit shell at US$1,750/oz – provides potential open p
Slide 10: Development Schedule
DEVELOPMENT SCHEDULE BASELINE STUDIES, EIA AND PROJECT APPROVALS UNDERWAY For personal use only 2023 2024 2025 2026 2027 2028 EARLY STUDIES / FEASIBILITY ENGINEERING EIA APPLICATION AND CONSULTATION DETAILED STUDIES / ADVANCED ENGINEERING PAS – PA APPLICATION PROCESS CONSTRUCTION PRODUCTION Tesoro G
Slide 11: Milestones on the Value Realisation Pathway
UNLOCKING EL ZORRO’S FULL POTENTIAL MILESTONES ON THE VALUE REALISATION PATHWAY For personal use only DEVELOPING DISTRICT TERNERA DISCOVERIES • MRE increased and upgraded with initial • Kitsune maiden drilling program to commence Exploration Target defined Q1 2023 Q2 2023 • Ternera expansion drillin
Slide 12: Large, Highly Prospective Gold Project
For personal use only 1 LARGE, HIGHLY PROSPECTIVE GOLD PROJECT Strategically positioned, and located in a Tier 1 mining jurisdiction EXISTING 1.3 Moz MINERAL RESOURCE ESTIMATE 2 Delivered at a low A$21/oz discovery cost and 99% success rate 3 EXCEPTIONAL METALLURGY FOR SIMPLE PROCESS FLOW Single sta
Slide 13: Appendix: Phase 1 Open Pit Scoping Study Detail
For personal use only APPENDIX PHASE 1 OPEN PIT SCOPING STUDY DETAIL Tesoro Gold (ASX:TSO | OTCQB:TSORF) | CORPORATE PRESENTATION
Slide 14: Ternera Deposit Mineral Resource Estimate (MRE)
TERNERA DEPOSIT MINERAL RESOURCE ESTIMATE (MRE) For personal use only Constrained 1.28 Moz Au MRE: US$1,800/oz optimised pit shell, underground reported at 1.5 g/t Au cut off1 Area Cut off Indicated Inferred Total Au g/t Mt Au g/t Koz Mt Au g/t Koz Mt Au g/t Koz Open Pit Resource 0.30 22.5 1.10 795
Slide 15: Production Projections
PRODUCTION PROJECTIONS PHASE 1 OUTPUT OF 651 koz For personal use only Annual recovered gold and head grade • Average production 93 koz p.a. • Mining rates provide 2.4 Mt p.a. mill feed • Mining dilution factor of 10% @ 0g/t Au applied to all mill feed tonnes • Mining loss of 5% used for all optimis
Slide 16: Sensitivity Analysis
SENSITIVITY ANALYSIS STRONG GOLD PRICE LEVERAGE For personal use only NPV5% (pre-tax) sensitivity analysis (US$M) • Commodity price/revenue and operating cost parameters represent the largest economic sensitivity to Project NPV • Significant NPV5% (pre-tax) uplift to US$300M at current gold spot pri
Slide 17: Project Configuration
PROJECT CONFIGURATION INITIAL 8-YEAR OPERATING LIFE For personal use only Optimised pit production target (US$1,750/oz at 0.46 g/t Au) • Open pit operation with activities performed Indicated Inferred Total by a mining contractor Pit Mt Au g/t koz % Mt Au g/t koz % Mt Au g/t koz • Mining costs estim
Slide 18: Process Plant Flowsheet
PROCESS PLANT FLOWSHEET SIMPLE SINGLE STAGE CRUSHING, GRAVITY AND CIP For personal use only Mill throughput by resource category 45% 94.5% gold recovered total recovery at 150 by gravity micron grind size Tesoro Gold (ASX:TSO | OTCQB:TSORF) | CORPORATE PRESENTATION INVESTOR PRESENTATION | 18
Slide 19: Capital Cost Estimate
CAPITAL COST ESTIMATE LOW UP FRONT CAPITAL BURDEN For personal use only Pre-production capital cost estimate (plant and infrastructure) • Total pre-production capital cost estimate of Area Cost estimate (US$M) US$132M Processing plant 62.5 • Estimated in consultation with independent Project infrast
Slide 20: Operating Cost Estimate
OPERATING COST ESTIMATE HIGHLY COMPETITIVE ALL IN SUSTAINING COST (AISC) ESTIMATE For personal use only Operating cost estimate (rounded) • Forecast average AISC US$1,068/oz Area US$/t Au processed US$/oz Au processed • Includes US$13/oz sustaining capital Processing plant 22.2 585 Project infrastru
Slide 21: Licence to Operate: Environmental and Social Strategy
LICENCE TO OPERATE ENVIRONMENTAL AND SOCIAL STRATEGY For personal use only ALIGNED TO THE UNITED NATIONS (UN) SUSTAINABLE DEVELOPMENT GOALS (SDG) WITH A COMMITMENT TO ENSURING EXPLORATION AND OPERATIONAL ACTIVITIES GENERATE POSITIVE SUSTAINABILITY OUTCOMES Health and safety Occupational Health and S
Slide 22: Current MRE Is Just the Beginning
CURRENT MRE IS JUST THE BEGINNING EXISTING DRILLING INFORMS SIGNIFICANT GROWTH POTENTIAL For personal use only • Exploration Target of 48.5 Mt to 101.0 Mt at 0.91 Drilled metres Resource (kOz Au) g/t Au to 1.45 g/t Au1 120,000 Ternera constrained MRE 3,500 3,000 • Indicates Ternera could potentially
Slide 23: Gold Fields Strategic Investment
GOLD FIELDS STRATEGIC INVESTMENT HIGH QUALITY SUPPORTIVE PARTNERSHIP For personal use only • Partnering with one of the world’s largest gold mining firms • Globally diverse South African gold producer with eight mining operations and projects through Australia, Chile, Ghana, Peru and South Africa •
Slide 24: Tesoro Gold Limited
For personal use only TESORO GOLD LIMITED Level 48 152-158 St Georges Terrace Perth, WA 600 +61 8 6311 9160 info@tesorogold.com.au www.tesorogold.com.au ASX:TSO | OTCQB:TSORF Tesoro Gold (ASX:TSO | OTCQB:TSORF) | CORPORATE PRESENTATION