West African Resources Ltd · ASX:WAF
West African Resources — Investor Presentation (August 2017)
22 slides from West African Resources's investor presentation, Aug 3, 2017
Slide 1: Sanbrado: A high-grade gold discovery
For personal use only Sanbrado: A high-grade gold discovery August 2017 1
Slide 2: Important Notice: Forward-Looking Statements
I M P O R TA N T N O T I C E FORWARD-LOOKING STATEMENTS For personal use only This presentation “forward-looking information” within the meaning of that will be encountered if a mineral property is developed. As well, all of the applicable Canadian and Australian securities legislation, including re
Slide 3: Forward-Looking Statements Continued; Qualified Persons and Competent Persons Statement
IMPORTANT NOTICE FORWARD-LOOKING STATEMENTS CONTINUED NI 43-101 QUALIFIED PERSONS AND COMPETENT PERSONS STATEMENT For personal use only This presentation also contains references to estimates of Mineral Resources and Ore (Mineral) Reserves. The estimation of Mineral Resources is inherently Informati
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS For personal use only Burkina Faso focussed gold developer; ASX and TSX-V listed (“WAF”) 90% owned Sanbrado Gold Project - Ultra high grade M1 discovery – extreme grades, growing at depth - Large gold system at M5 - 3km strike, more than 300m wide – open at depth +1,000km
Slide 5: Sanbrado: A High Grade Gold Project
SANBRADO GOLD PROJECT – BURKINA FASO SANBRADO: A HIGH GRADE GOLD PROJECT For personal use only Recent transformational exploration success has underpinned a planned CIL development High-grade discovery March 2016: TAN17-DD111: 21m at 53.13 g/t Au from 408.5m including 0.5m at 1,613.41 g/t Au
Slide 6: Corporate Overview
CORPORATE OVERVIEW For personal use only ASX & TSX-V: WAF Share Price (ASX) SANBRADO: A HIGH GRADE GOLD PROJECT Total Ordinary Shares on Issue 538.2m Options on issue 57m Top 20 Shareholders 55% Cash A$26m In-the-money options ~A$7.5m Market Capitalisation (at 36c/share) A$194m Substantial Sharehold
Slide 7: Experienced Board & Management
EXPERIENCED BOARD & MANAGEMENT BOARD OF DIRECTORS For personal use only RICHARD HYDE MARK CONNELLY Simon Storm Managing Director and CEO Non-Exec Chairman Non-Exec Director Geologist with 20 years of experience in Executive with more than 27 years Chartered accountant with more than the minerals ind
Slide 8: Sanbrado Gold Project
For personal use only SANBRADO GOLD PROJECT 8
Slide 9: Sanbrado Gold Project Overview
SANBRADO GOLD PROJECT OVERVIEW Over 2Moz in gold For personal use only resources: 1.3Moz (Ind) & 0.8Moz (Inf) Resources include over 150,000m of DD & RC All deposits within 3km Conventional open-pit and underground mining Conventional CIL processing methods – >91% recovery at 90 μm grind
Slide 10: M1 South High Grade Discovery
M1 SOUTH HIGH GRADE DISCOVERY For personal use only At least 3 high grade shoots across 350m strike Southern shoot best developed, up to 100m strike, 45m true width, drilled to 400m vertical, open at depth Extreme grades up to 1.6kg per tonne >1,500oz per vertical metre Abundant visible go
Slide 11: M1 South 2017 Drilling Results
M1 SOUTH 2017 DRILLING RESULTS For personal use only RECENT 2017 DRILLING TO 400M VERTICAL: 11m at 20.4g/t Au from 286m, including 2m at TAN17-DD104 101.71g/t Au 8.5m at 37.98g/t Au from 296.5m including 1m TAN17-DD107 at 260.93g/t Au 29.5m at 20.67g/t Au from 349.5m including TAN17-DD109 1.5m at 25
Slide 12: M1 South Mineral Resource
M1 SOUTH MINERAL RESOURCE Independently prepared resource and mining studies For personal use only Resource modelling includes OK and MIK estimation OK high grade domains, hard boundaries, 200g/t Au top cut MIK low grade domains, enveloping high grade zones Depth of mineralisation doubled
Slide 13: M1 South High Grade
M1 SOUTH HIGH GRADE For personal use only TAN17-DD111: 414-414.5M 1.6 kg/t gold 13
Slide 14: M5 Tonnes of Options, Open at Depth
M5 TONNES OF OPTIONS, OPEN AT DEPTH For personal use only 3km strike, up to 300m true width, open at more than 300m depth 27.6Mt at 1.2g/t Au for 1.0Moz Au (Ind) and 17.4Moz at 1.3g/t Au 0.7Moz Au (Inf) Over 10Mt oxide and transitional material Ore shoots open at depth plunge steeply to nort
Slide 15: M5 2017 Drilling
M5 2017 DRILLING For personal use only RECENT 2017 DRILLING RESULTS INCLUDE: 29m at 4.96g/t Au from 128m, TAN17-DD094 including 9m at 10.6g/t Au 15m at 5.03g/t Au from 256m, TAN17-DD097A including 2m at 27.3g/t Au 20m at 3.34g/t Au from 170m, TAN17-DD100 including 2m at 16.5g/t Au 42m at 3.89g/t Au
Slide 16: Open Pit Feasibility Study Overview
OPEN PIT FEASIBILITY STUDY OVERVIEW +150Kozpa over first 3yrs For personal use only US$131 million capex (including pre-production mining and contingency) Two year pay back at US$1200 All-In Sustaining Costs (AISC) of US$708/oz first 3 years and US$759 over LOM Conventional CIL and gravity
Slide 17: Growth of Resources, Reserves and Grade
GROWTH OF RESOURCES, RESERVES AND GRADE For personal use only 1000000 2.5 900000 800000 2 700000 Ounces Au Ounces Au 600000 1.5 500000 400000 1 300000 200000 0.5 100000 0 0 2014 2015 2016 2017 Indicated Probable Grade Ind 17
Slide 18: Milestones
MILESTONES Rest of 2017 For personal use only Current drilling program for next resource update nearing completion - results pending Ground geophysical survey - IP and detailed mag over M1 and M5 Q3 2017 Resource update - late Q3 2017 Commence +700m holes at M1 and M5 – results Q4 2017 Des
Slide 19: Analyst Coverage
Analyst Coverage For personal use only Argonaut James Wilson +61 8 9224 6888 Clarus Securities Nana Sangmuah +1 416 343 2779 Cormark Tyron Breytenbach +1 416 943 6747 Hartleys Mike Millikan +61 8 9268 2805 Sprott Brock Salier +44 207 659 0841
Slide 20: Appendix: Additional Slides
For personal use only APPENDIX: ADDITIONAL SLIDES
Slide 21: Mineral Resources & Ore Reserves
MINERAL RESOURCES & ORE RESERVES SANBRADO GOLD PROJECT MINERAL RESOURCES | 20 TH FEBRUARY 2017 For personal use only INDICATED RESOURCES INFERRED RESOURCES Cutoff (Au g/t) Grade Grade Tonnes Au Oz Tonnes Au Oz (Au g/t) (Au g/t) 0.5 27,660,000 1.2 1,049,000 17,360,000 1.3 712,000 M5 1 11,100,000 1.9
Slide 22: Overview of the Open Pit Feasibility Study
OVERVIEW OF THE OPEN PIT FEASIBILITY STUDY For personal use only SANBRADO OPEN PIT FEASIBILITY STUDY – PRODUCTION AND FINANCIAL HIGHLIGHTS Base case is stated on a 100% basis and a gold price of $1,200/oz (all amounts in US$) Production Y1-3 Average of 150,000oz/yr Production LOM Average of 93,000oz
West African Resources — Investor Presentation (August 2017) on 6ix