Athena Resources Limited · ASX:AHN
Athena Resources — Shareholder Meeting (November 2010)
39 slides from Athena Resources's shareholder meeting presentation, Nov 23, 2010
Slide 1: Byro Station 2010 RC Drilling Program
BYRO STATION For personal use only 2010 RC DRILLING PROGRAM
Slide 2: For personal use only
This presentation is provided for the sole purpose of providing preliminary technical, financial and other background information to enable you to review the business activities of Athena Resources Limited (“Athena”). The material provided does not constitute an invitation, solicitation, recommendat
Slide 3: Capital Structure
Capital Structure For personal use only Issued and Quoted Securities Current Number Ordinary Shares 65,600,974 Options 8 cent 33,800,487 (Expiring - 30 April 2012) Market Capitalisation $8M (1 November 2010)
Slide 4: Capital Structure: Major Shareholders
Capital Structure For personal use only Major Shareholders Currently Shares % E Edwards 8,710,000 13.28 Ishine International 8,300,000 12.65 D Kelly 6,043,957 9.21 P Newcomb 2,862,500 4.36
Slide 5: Board and Management
Board and Management For personal use only • Hon Andrew Thomson (Chairman) – Graduate of the Law Faculty of the University of Melbourne, the International Centre of Keio University in Tokyo, and Georgetown University Law Centre. • Mr Ed Edwards (Managing Director) – Chartered Accountant 32 years as
Slide 6: Athena's Projects
Athena’s Projects For personal use only • Byro – 2,800 sq km - Iron Ore - Nickel-Copper & Platinum • Ashburton – 630 sq km - Gold - Lead, Silver and Copper
Slide 7: Byro Project Geographic Location and Infrastructure
BYRO PROJECT GEOGRAPHIC LOCATION AND INFRASTRUCTURE For personal use only
Slide 8: Athena's Tenements
ATHENA’S TENEMENTS For personal use only ATHENA’S TENEMENTS
Slide 9: For personal use only
oO Ultramafic Intrusion (O Local Gravity High Oo Magnetic Strain Lineament Local Magnetic and Gravity Strain Boundary e Ne 4\at) Y oon Intr: * AX SHY) Pez" ATH)
Slide 10: Byro Magnetite Iron Project 2010-2011 Key Points
For personal use only BYRO MAGNETITE IRON PROJECT 2010 - 2011 KEY POINTS • Confirmed the FE1 Anomaly to be a large, continuous, Magnetite Body • Assay and DTR Results Show High Grade with Low Impurities • High Confidence in Targeting by Correlating Assay Data with Aeromagnetic data
Slide 11: For personal use only
For personal use only
Slide 12: FE1 Drill Hole Locations
For personal use only AHRC0008 82m@32.43%Fe from 68m AHRC0006 76m @28.46%Fe from 85m AHRC0011 60m @ 35.1%Fe from 107m AHRC0003 50m @34.56%Fe from 59m AHRC0005 38m @30.38%Fe from 64m FE1 Drill Hole Locations Over aerial photograph and aeromagnetic Survey Data
Slide 13: For personal use only
For personal use only Line 4 Line 3 Line 2 AHRC0010 20m @ 29.13% Fe from 98m AHRC0008 82m@32.43%Fe from AHRC0005 38m @30.38%Fe from 64m 68m AHRC0011 60m @ 35.1%Fe from 107m AHRC0007 20m @ 28.91% Fe from AHRC0006 76m @28.46%Fe from 85m 32m Including 10m @ 33.34% Fe from 42m And 10m @ 33.34% Fe from 4
Slide 14: Outcropping BIF East of AHR0007
For personal use only Outcropping BIF East of AHR0007 Looking south, note westward dip of bedding
Slide 15: Sample Piles
Sample Piles AHRC0008 (top left) and AHRC0006 (bottom right) For personal use only Sample piles are at 1m intervals, note the consistent cover depth of 55 to 60m from surface to the magnetite body and continuous magnetite thereafter. Sample intervals were every 4m in non magnetite environments and e
Slide 16: Polished Thin Section
POLISHED THIN SECTION MAGNETITE MAJOR For personal use only GRUNERITE MAJOR CHALCOPYRITE TRACE PYRITE ACCESSORY PYRRHOTITE TRACE QUARTZ MAJOR BIOTITE/CHLORITE ACCESSORY ILMENITE TRACE HORNBLENDE TRACE CLASSIFIED AS A PYRITE MAGNETITE AMPHIBOLE QUARTZITE The magnetite grains are major component of al
Slide 17: Photomicrograph of Magnetite in Polished Section
Photomicrograph of Magnetite in Polished Section from Reflective Light Pyr For personal use only Mnt Sil Sil Mnt Mnt Sil Above: Opaque, light grey colour magnetite grains displaying high relief
Slide 18: Davis Tube Recovery Results
Davis Tube Recovery results include:- For personal use only AHRC0008 83m @ 70.7% Fe from 68m AHRC0006 76m @ 70.4% Fe from 85m AHRC0011 60m @ 70.4% Fe from 107m AHRC0003 50m @ 70.5% Fe from 59m AHRC0005 38m @ 69.0% Fe from 64m AHRC0017 10m @ 71.1% Fe from 88m • Concentrate grades of up to 71.6% Fe •
Slide 19: Magnetic Image Targeting
Magnetic Image Targeting (Magnetic image targets marked in yellow). For personal use only • Correlating geophysical magnetic data to actual drill chip assay. • Developed a response cut off of 1500nt for the high magnetite type iron ore. • As can be seen there is approximately 20 km strike length of
Slide 20: Byro Copper Nickel PGE 2010-2011 Key Points
For personal use only BYRO COPPER NICKEL PGE 2010 - 2011 KEY POINTS • Diamond Drilling at Byro East has demonstrated variable zones of geochemistry within a consistently high MgO peridotite • Primary sulphide, pentlandite commonly upgraded to millerite and visible native copper at depth in drill cor
Slide 21: Two Locations
For personal use only Two Locations Byro East 1. Byro East Moonborough 2. Moonborough (So Far)
Slide 22: Byro East Drill Holes
For personal use only 2000m Channels 14 to 24 Time Constant (Tau) Overlaying RTP Laplacian Aeromagnetic Data (Above) BYRO EAST DRILL HOLES (Left) • AHRC0025 Southeast Contact Cu anomaly • AHRC0026 Midwest Contact Ni soil anomaly • AHRC0027 (140m) Then diamond tail below • AHDH0001 to (212.4m) EM, Gr
Slide 23: Byro East Drill Results
BYRO EAST DRILL RESULTS For personal use only Zones Laterite Part Weathered UM. Fresh Rock at AHRC0025; 36m @ 0.34% Ni from 0m, (In laterite). 50m Elevated PGE's Throughout Sheared UM Sheared sed/Granite Zones Silicified zone From 92m a shear hosting anomalously high PGE’s Fresh Rock. Serpentinite S
Slide 24: Thin Section: Pentlandite altered to Millerite
For personal use only Thin Section showing Primary Pentlandite altered to Millerite. Formed by removal of sulfur from the pentlandite during metamorphism and reconstituted into metamorphic millerite
Slide 25: Nickel Sulphides, Millerite and Pentlandite with Native Copper
For personal use only Plate 2 from thin section Nickel Sulphides, Millerite and Pentlandite with Native Copper. Native copper as fine linear shaped particles in the serpentine with nickel sulphides.
Slide 26: Vein Hosting Magnetite-Millerite and Copper
For personal use only Plate 3 from thin section Vein Hosting Magnetite-Millerite and Copper. The assemblage association millerite - magnetite strongly indicates a secondary metamorphic occurrence most likely associated with the serpentinisation processes. It is unclear if the copper has been remobil
Slide 27: Moonborough
MOONBOROUGH For personal use only Three Gates Water Bore Hole 7 ppb Pt 9 ppb Pd 58 ppm Cu 3 ppb Pt 21 ppb Pd AHRC0021 162 ppm Cu AHRC0022 18 ppb Pt 9 ppb Pd AHRC0019 50 ppm Cu AHRC0020 BYRO STATION 5 kilometres
Slide 28: Moonborough Results
MOONBOROUGH RESULTS For personal use only AHRC0019: maximum down hole assays include 15ppb platinum, 15ppb palladium, 10ppb gold, 96ppm Copper and 1010ppm nickel. (Talc chlorite ultramafic ) AHRC0021 maximum down hole assays include 10ppb platinum, 80ppb palladium, 17ppb gold, 620ppm Copper and 114p
Slide 29: Exploration Strategy 2010-2011
For personal use only EXPLORATION STRATERGY 2010 - 2011
Slide 30: Exploration Outline
EXPLORATION OUTLINE For personal use only Byro Iron Ore Byro Base Metals To Achieve Inferred Resource Moonborough AirCore Program Byro East Diamond Drilling Geochem Local Gravity DHEM Tonnes Grade Grid Definition Target Definition Assay DTR Drilling Approvals Target Definition Drilling Approvals 0RE
Slide 31: For personal use only
For personal use only
Slide 32: For personal use only
For personal use only
Slide 33: For personal use only
For personal use only Average width = 60m Magnetite SG = 4 g/cm3 Required density of drilling to be determined (View shows 80m centres)
Slide 34: For personal use only
For personal use only
Slide 35: For personal use only
For personal use only 1 Kilometre 1 Kilometre
Slide 36: Inflationary sill model for the Katinniq Ultramafic Complex
{| Magma flows on to feed surface volcanism - high magnesium basalts { ‘Olivine lags , livine-free cenitic” ind i Riffing of olivine: roxenitic’ penic sulphide liquid magma with into pools. of liquid sul Nak Emplaceme: es Pyroxenite settling margin of olivine ae | Prograssively more is én olivine-ri
Slide 37: Moonborough Aircore Drilling
MOONBOROUGH AIRCORE DRILLING For personal use only BYRO STATION 5 kilometres
Slide 38: Byro Project, Murchison Region, WA
BYRO PROJECT MURCHISON REGION, WA BYRO PROJECT MURCHISON REGION, MIDWEST, WA Tallering Peak Iron Ore B Athena's Tenement [© | High Priority Magnetite Target BBE boca! cravity High BBB &xp0009 Lum intrusion oO Buniad intrusion - Gravity High @ von ore
Slide 39: Competent Person Statement
For personal use only The technical information relating to Athena’s exploration projects was compiled by Mr. Donald Thomson, an employee of Indigo Exploration Services Pty Ltd. Mr. Thomson is a Member of the Australasian Institute of Mining and Metallurgy, and has sufficient relevant experience in
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