Slide 1: An Emerging Nickel Sulphide Discovery Under Cover
For personal use only WESTERN MINES GROUP AN EMERGING NICKEL SULPHIDE DISCOVERY UNDER COVER FUTURE FACING COMMODITIES CONFERENCE SINGAPORE @westernmines 5-6 APRIL 2023 westernmines Western Mines Group ASX: WMG www.westernmines.com.au
Slide 2: Disclaimer
DISCLAIMER For personal use only NATURE OF THIS DOCUMENT This presentation has been prepared by Western Mines Group Limited ACN 640 738 834 (Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowle
Slide 3: A Small Company With A Big Project
A SMALL COMPANY WITH A BIG PROJECT For personal use only WESTERN MINES GROUP COMPANY OVERVIEW 10x • High-impact exploration focused on Ni-Cu-PGE and Au “An exploration driven company • 8 projects all located in Western Australia looking to create value through • Flagship Mulga Tank Ni-Cu-PGE Project
Slide 4: Nickel: Key Component of the Global Energy Transition
NICKEL: KEY COMPONENT OF THE GLOBAL ENERGY TRANSITION For personal use only LARGE LOW-GRADE NICKEL SULPHIDE WILL INCREASINGLY BECOME AN ESSENTIAL NEW SUPPLY NICKEL LATERITE Around four times more energy and CO2 intensive than sulphide ana Large surficial deposits, often in tropical regions, can be v
Slide 5: Frontier Exploration in a World Class Nickel Province
FRONTIER EXPLORATION IN A WORLD CLASS NICKEL PROVINCE For personal use only YILGARN CRATON WESTERN AUSTRALIA • One of the world’s major nickel provinces • World-class examples of komatiite-hosted nickel deposits – Kambalda (35Mt @ 3.1% Ni), Perseverance (50Mt @ 2.3% Ni) and Mt Keith (643.7Mt @ 0.58%
Slide 6: Emerging Discovery and Belt Scale Opportunity
EMERGING DISCOVERY AND BELT SCALE OPPORTUNITY For personal use only MAJOR KOMATIITE NICKEL SYSTEM UNDER COVER • Large adcumulate dunite body (~15km2) with interpreted komatiite channel flows extending NW over >12km • Limited drilling has penetrated ultramafic system through cover - 19 out of 25 hole
Slide 7: Chasing Major Deposits
CHASING MAJOR DEPOSITS For personal use only EXPLORATION MODELS ARE PERSEVERANCE AND MT KEITH MULGA TANK ULTRAMAFIC COMPLEX OF COMPARABLE SIZE/SCALE TO PERSEVERANCE AND MT KEITH Model PERSEVERANCE MT KEITH Type Type 1 Stratiform Basal Massive Sulphide* Type 2 Interstitial Disseminated Sulphide* Reso
Slide 8: Main Dunite Body: Mt Keith-Style Mineral System
MAIN DUNITE BODY: MT KEITH-STYLE MINERAL SYSTEM For personal use only DISSEMINATED SULPHIDES OVER >300M INTERVALS • Holes MTD012, MTD020, MTD022 and MTD023 intersected extensive disseminated magmatic sulphides • MTD012: 50m at 0.32% Ni, 25ppm Cu, 124ppm Co from 177m inc. 16m at 0.38% Ni, 38ppm Cu, 1
Slide 9: Western Margin: Perseverance-Style Target
WESTERN MARGIN: PERSEVERANCE-STYLE TARGET For personal use only REMOBILISED MASSIVE NICKEL SULPHIDE VEINING • Multiple zones of remobilised massive nickel sulphide veinlets above a large EM target • MTD012: 0.5m at 1.49% Ni, 0.04% Cu and 0.04% Co from 385.8m • MTD013: 1.6m at 0.83% Ni and 0.30g/t Pt
Slide 10: Systematic Exploration Approach
SYSTEMATIC EXPLORATION APPROACH For personal use only VECTORING TOWARDS NICKEL MINERALISATION • Exploration team lead by WA nickel expert Dr Ben Grguric • Building a robust exploration model for the discovery of multiple nickel sulphide deposits at Mulga Tank • Combined geophysical, geological and g
Slide 11: Phase 1 Diamond Drilling Tested a Range of Targets
PHASE 1 DIAMOND DRILLING TESTED A RANGE OF TARGETS For personal use only VISIBLE NICKEL SULPHIDES IN SIX OUT OF TEN HOLES • Significantly enhanced the understanding of the complex HoleID Target Description des lphi MTD012 Geology i su Tested western margin of the intrusion between holes MTD003, MTD0
Slide 12: Phase 2 Follow-up Program
PHASE 2 FOLLOW-UP PROGRAM For personal use only DEEP EIS HOLES UNLOCK KNOWLEDGE OF THE SYSTEM • Phase 2 ~4,000-5,000m diamond program in progress • Successful EIS award of $220,000 towards two deep diamond holes TYPE 1 MASSIVE SULPHIDE TARGETS • DHEM multiple high conductance offhole anomalies • Rem
Slide 13: Initial Testwork Confirms Significant Nickel in Sulphide
INITIAL TESTWORK CONFIRMS SIGNIFICANT NICKEL IN SULPHIDE MTD012 For personal use only EXTENSIVE NICKEL SULPHIDE MINERALISATION • Aqua regia (AR) versus four acid (4A) demonstrates nickel mineralisation in 4A 50m @ 0.32% Ni 97% AR 50m @ 0.31% Ni sulphide • Shallow mineralisation over 1.6km MTD012-MTD
Slide 14: Multiple Drivers to Company Success Over 6-12 Months
MULTIPLE DRIVERS TO COMPANY SUCCESS OVER 6-12 MONTHS For personal use only PATHWAYS TO SHAREHOLDER VALUE 1 EXTENDING DISSEMINATED SULPHIDE MINERALISATION Mt Keith-style Planned hole MTP024 between MTD023 and MTD020 MTP026 and MTP027 EIS2 Confirm payable Ni sulphide mineralisation RESOURCE DRILL OUT
Slide 15: Exciting Discovery Opportunity
EXCITING DISCOVERY OPPORTUNITY For personal use only EXPLORATION PHILOSOPHY • We believe multiple significant nickel deposits could be found at Mulga Tank • We strive to do high-quality technical exploration work • We are frugal with overheads to maximise exploration spend and minimise equity diluti
Slide 16: Directors
DIRECTORS For personal use only Rex Turkington Non-Executive Chairman Capital Markets | Corporate Management Rex is a highly experienced corporate advisor and economist who has worked extensively in the Australian financial services and stockbroking industry, specialising in the natural resources se