Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Investor Presentation (March 2011)
34 slides from Middle Island Resources's investor presentation, Mar 11, 2011
Slide 1: Exploring Golden Frontiers
For personal use only Exploring Golden Frontiers Middle Island Resources European Investor Presentation March 2011
Slide 2: Disclaimer Notice and Competent Persons Statement
Disclaimer Notice and Competent Persons Statement For personal use only Disclaimer Notice The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Middle Island Resources Limited (“MDI”) nor doe
Slide 3: Corporate Status
Corporate Status ASX Code : MDI For personal use only Capital Structure Shares Post IPO % Pre-IPO shares on Issue 39,840,010 40 Shares issued to Newmont ~10,000,000 10 US$2.5M at a A$0.25 Issue price IPO Issue (16 December 2010) 50,000,000 50 Total 99,840,010 100 Major Shareholders Rick Yeates 20,00
Slide 4: Board & Management Team
Board & Management Team For personal use only Peter Thomas • Practicing Solicitor • Corporate and commercial mining industry advice since 1980 • Served on the boards of (Non-Executive various listed companies since the 1980s • Founding Chairman of Sandfire Resources NL • Currently Chairman Chairman)
Slide 5: Corporate Strategy
Corporate Strategy For personal use only • West Africa. • Gold focus. • Exploration & development - best leverage & optimum value. • Build minimum1.1Moz resource base within 2 years on at least 1 project. • Leverage off management’s 20 years local experience & contacts. • Jurisdictions with acceptab
Slide 6: Why West Africa?
Why West Africa? For personal use only • One of the best endowed & most prospective gold terrains on earth. • Leads the world in discoveries & resource growth (54% over last 8 years). • Discovery rate recently enhanced by application of geochemical auger drilling. • Now recognized as an attractive i
Slide 7: Why Gold?
Why Gold? For personal use only • Strong current gold price, & forecast to continue strengthening. • Can be produced on site, flown out & sold ‘over the counter’. • Obviates need for expensive infrastructure. • Limits M&A off-take opportunities, but … • M&A activity in the gold sector is strong & pr
Slide 8: Why Middle Island Resources?
Why Middle Island Resources? For personal use only • Management’s extensive West African experience (20 years). • Ability to leverage off knowledge & contacts to access new project opportunities. • Strong loyalties in the service sector for ready access to staff & contractors. • Strong investment su
Slide 9: Current Projects
For personal use only Current Projects 9
Slide 10: Current Projects
Current Projects For personal use only • 100% of Reo Project – Burkina Faso • Earning 70% in Nassilé Project – Niger • Earning 90% in Dogona Project – Niger • Further highly prospective applications and acquisitions in the pipeline 10
Slide 11: Burkina Faso
Reo Project – Burkina Faso For personal use only • MDI acquired 100% interest from Newmont for MDI equity. • 7 permits covering 1,166 km2 (plus on-going tenure consolidation). • Newmont sees MDI as vehicle to increase exposure to West African gold assets. • Numerous ‘greenfields’ Newmont discoveries
Slide 12: Geology
Reo Project – Geology For personal use only • Area originally selected from Newmont cratonic study. • Straddles structurally complex junction of the Boromo & Houndé greenstone belts where thrusted against the central Burkina granitoid massif. • Poura (1.5Moz) 90km to south & Mana (3Moz) 100km to sou
Slide 13: Geology
Reo Project – Geology For personal use only 13
Slide 14: Geochemistry - Morley
Reo Project – Geochemistry For personal use only MORLEY 14
Slide 15: Ground Gravity - Morley
Reo Project – Ground Gravity For personal use only MORLEY 15
Slide 16: Airborne Magnetics - Morley
Reo Project – Airborne Magnetics For personal use only MORLEY 16
Slide 17: Morley Prospect
Reo Project – Morley Prospect For personal use only • 3.25km x 0.8km soil anomaly to 500ppb Au. • Mineralisation comprises extremely fine gold associated with sheared quartz veins & lodes. • No geology exposed – largely veneered by transposed to transported soils and laterite. • Hence no artisanal m
Slide 18: Morley Prospect
Reo Project – Morley Prospect For personal use only • ~800m trenching program in progress over 900m S/L. • Significant MDI trench results to date:- - MRTR001 11m at 7.97g/t Au - (including 4m at 20.2g/t Au) - MRTR002 6m at 3.88g/t Au - MRTR003 9m at 2.19g/t Au - MRTR004 4m at 4.25g/t Au - MRTR005 12
Slide 19: Morley Prospect
Reo Project – Morley Prospect For personal use only 19
Slide 20: K4/K5 Prospect
Reo Project – K4/K5 Prospect For personal use only • Cohesive 4km x 2.5km soil anomaly with peak values >1,000ppb Au. • No geology exposed, but veneered by residual soils & laterite. • Only tested by shallow, sparse Newmont aircore drilling (400m x 50-100m). • Mineralisation appears to be associated
Slide 21: K4/K5 Prospect
Reo Project – K4/K5 Prospect For personal use only • Artisanal gold rush to K4/K5 Prospect in June 2010. • Some 10,000 illegal miners present in February 2011. • Working laterite, eluvial, coluvial & alluvial material over an area 2km by 1km. • MDI absolved of any HSE liabilities. • Clearly demonstr
Slide 22: Geochemical Auger Drilling
Reo Project – Geochemical Auger Drilling For personal use only • Regional geochemical auger drilling planned to identify and prioritize all prospects within Reo Project. • Targeting Study completed on basis of airborne geophysical survey & interpretation will provide the basis for this work. 22
Slide 23: Strategy
Reo Project – Strategy For personal use only Stage 1 (2010/2011) • High resolution airborne magnetics & radiometrics Stage 2 (2011/2012) (completed). • Confirm distribution & geometry of mineralized • Trenching and RC drilling to confirm mineralized zones at K4/K5. zone geometry at Morley (in progre
Slide 24: Anticipated News Flow
Reo Project – Anticipated News Flow For personal use only Short Term • On-going release of trench & RC intersections (January-April+ 2011). • Anticipated progressive releases of RC results from Morley & K4/K5 pattern drilling. • Anticipated early auger identification & prioritization of new prospect
Slide 25: Niger Projects – Overview
Niger Projects – Overview For personal use only 25
Slide 26: Nassilé Project – Niger
Nassilé Project – Niger For personal use only • Earning 70% interest in the granted Nassilé Project from Island Arc Exploration Corp & Cassidy Gold Corp. • Staged expenditure of US$2 million over a 3 year term. • Minimum expenditure before withdrawal of US$250,000 (completed). • Granted tenure over
Slide 27: Nassilé Project – Exploration Summary
Nassilé Project – Exploration Summary For personal use only • Ashanti Goldfields (AngloGold Ashanti) explored Nassilé between 1996 & 1998 • Recent exploration by Island Arc has identified 8 prospects, partially tested • RAB drilling at Koutougou Prospect:- – NRB202 -12m at 2.09g/t Au • RC Drilling a
Slide 28: Nassilé Project – Exploration Summary
Nassilé Project – Exploration Summary For personal use only • 20,000m geochemical auger drilling underway. • Initial 400m x 100m pattern • 9,900m completed to date. • Identified to date:- - 3km extension to Songonduari Prospect. - Repetition of Forbemi Prospect. - New 2.5km diameter anomaly at Bampe
Slide 29: Dogona Project – Niger
Dogona Project – Niger For personal use only • Earning 90% interest in the Boulkagou & Dogona applications from Cassidy Gold Corp (when granted). • Staged expenditure of US$1.0 million over a 2 year term from grant. • Applications (2 permits) collectively covering 822.7 km2. • Substantial area of un
Slide 30: Dogona Project – Exploration Summary
Dogona Project – Exploration Summary For personal use only Dogona Application • Panbugue Prospect identified over 1km strike of artisanal hard rock & eluvial laterite mining Boulkagou Application • Previously held by Golden Star Resources. • <10km along strike from Samira Hill. • Dianamiti Prospect
Slide 31: Nassilé/Dogona – Strategy
Nassilé/Dogona – Strategy For personal use only Stage 1 (commencing 2010) • Airborne magnetics & radiometrics (awaiting security clearance). • Regional geological reconnaissance compilation (completed). • Geochemical auger drilling over interpreted targets dominated by transported soil & laterite co
Slide 32: Medium Term Strategies
Medium Term Strategies For personal use only • Identify a maiden resource at Reo Project. • Identify and prioritise all significant prospects at Reo, Nassilé & Dogona projects. • Additional tenement applications & acquisitions under review based on sound technical merit. • Identify & assess addition
Slide 33: Conclusions
Conclusions For personal use only • Early, well-priced entry into gold in West Africa. • Highly experienced West African team. • Newmont as a major shareholder. • Major international funds well represented on register. • Quality existing projects. • ~$1 million quarterly exploration spend. • Strong
Slide 34: Thank you
For personal use only Unit 2, 2 Richardson Street West Perth Thank you Western Australia, 6005 Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au
Middle Island Resources — Investor Presentation (March 2011) on 6ix