Wiluna Mining Corporation Ltd · ASX:WMC

Wiluna Mining — Blackham Resources — Diggers and Dealers Kalgoorlie 2017

34 slides from Wiluna Mining's conference presentation, August 2017

  1. Slide 1: Australian gold producer with exceptional growth opportunity

    Australian gold producer with exceptional growth opportunity ASX : BLK Diggers and Dealers Kalgoorlie Aug 2017

  2. Slide 2: Disclaimers and Important Information

    Disclaimers and Important Information This presentation includes certain statements that may be deemed ‘forward-looking statements’. All statements that refer to any future production, resources or reserves, exploration results and events or production that Blackham Resources Ltd (‘Blackham’ or ‘the

  3. Slide 3: Gold producer with exceptional growth opportunity

    Gold producer with exceptional growth opportunity  Matilda/Wiluna Gold production commenced in Oct’ 2016  FY17 Gold production 39,400oz  Market cap ~ A$13/resource oz with strong liquidity  Resource 6.2Moz @ 3.1g/t, 4 large scale gold systems & over (1) 1,000km2 landholding  +3 years worth of o

  4. Slide 4: Corporate Information

    Corporate Information BOARD OF DIRECTORS & KEY MANAGEMENT Bryan Dixon Managing Director Mining Develop’t & Corporate Milan Jerkovic Non-Exec Chairman Mining Develop’t & Operation Greg Miles Non-Exec Director Geology & Mining Evaluation Peter Rozenauers Non-Exec Director Mining Finance & Corporate Ri

  5. Slide 5: Australia’s biggest gold belt

    Australia’s biggest gold belt  In Australia’s largest gold belt stretching from Norseman through Kalgoorlie to Wiluna  Regional endowment > 40Moz  Matilda/Wiluna Operation has over 11Moz endowment including >4.3Moz of past production – largest endowment in region  Positioned economic development

  6. Slide 6: Large scale geology

    Large scale geology  Resource 61Mt @ 3.1 g/t for 6.2Moz Au (1) – 51% Indicated Resource level  Consolidated Wiluna goldfield with all deposits < 20km of plant  Good mix of open pit & high grade UG ore  +1,000km2 of tenure & 55km of strike  4 large gold systems capable of sustaining a long mine

  7. Slide 7: Gold production increasing

    Gold production increasing Sept’17 Qtr gold production stronger  Targeting throughput 450,000t for Sep’17 Qtr  Low grade stockpiles made up 25% Jun’17 Qtr plant feed  Open pit high grade ore for Jul’17 1.6g/t Au  Grade control ore models reconciled with in 2% of the milled grade for FY17.  80%

  8. Slide 8: Matilda Mine – Base Load Ore

    Matilda Mine – Base Load Ore  10kms stacked, repeating gold Resources Mt Grade Koz lodes Measured 0.9 1.5 44 Indicated 6.2 1.8 350  Soft, deeply weathered oxide ore Inferred 4.7 1.7 255  Production (1987-1993): Total 11.8 1.7 649  2.2 Mt@ 2.6g/t = 181,000oz au  Mine Plan  Soft rock & ore with

  9. Slide 9: Matilda Mine – Base Load Ore

    Matilda Mine – Base Load Ore In FY 2017-18  Average grade increasing  Strip ratio decreasing 9

  10. Slide 10: Galaxy orebody

    Galaxy orebody Same story for Galaxy M3 10

  11. Slide 11: Stage 2: Wiluna 5.0Moz

    Stage 2: Wiluna 5.0Moz  Total resources 40Mt @ 3.9g/t for 5.0Moz (1)  OP resources 17Mt @ 2.7g/t for 1.5Moz  UG resources 23Mt @ 4.8g/t for 3.5Moz  Operating data gives good understanding of processing costs & recoveries  83% average recoveries over 20 years  Mining plan the key to unlocking t

  12. Slide 12: Blackham’s mid tier producer ambitions

    Blackham’s mid tier producer ambitions Wiluna Expansion Study confirms +200kozpa long mine life opportunity Initial Expansion Study Highlights1 Combined processing capacity of 3.2Mtpa and to maintain +200,000ozpa gold production • Targeted Production 1.3Mtpa and growing • Base load Open Pit Mining I

  13. Slide 13: Blackham’s mid tier producer ambitions

    Blackham’s mid tier producer ambitions Wiluna Expansion Study confirms +200kozpa long mine life opportunity Initial Expansion Study Highlights • Staged pathway to a flexible processing facility capable of unlocking the value of the both oxide and sulphide resources • Combined oxide/sulphide operatio

  14. Slide 14: East West Pit - large scale pit getting bigger

    East West Pit - large scale pit getting bigger  PES open pit 5.6Mt @ 2.3g/t for 424,000oz & 9:1 strip ratio(1)  Open pit resources for East and West 1.5km strike lodes now 8.5Mt @ 2.8g/t (diluted) for 770,000oz within an A$1,800/oz pit shell (76% Indicated)(2)  high grade for an open pit  23% in

  15. Slide 15: East West Pit - large scale pit getting bigger

    East West Pit - large scale pit getting bigger 80% of the resource is falling into a A$1,400/oz pit shell 15

  16. Slide 16: East West underground opportunity

    East West underground opportunity Underground targets 16

  17. Slide 17: East West Pit - large scale pit getting bigger

    East West Pit - large scale pit getting bigger 80% of the resource is falling into a A$1,400/oz pit shell 17

  18. Slide 18: East West Pit - large scale pit getting bigger

    East West Pit - large scale pit getting bigger Underground Targets 18

  19. Slide 19: East-West pit growing

    East-West pit growing 600m wide No drillin 19

  20. Slide 20: East West Underground Mine Plan

    East West Underground Mine Plan Mining Inventory 1.6Mt @ 5.0g/t for 250koz 600m Extensive historical 1.5Moz of historical production with development to 600m depth stopes up to 30m wide 20

  21. Slide 21: East West Underground Opportunity

    East West Underground Opportunity Underground bulk mining assessments to be completed 21

  22. Slide 22: East West Underground

    East West Underground Underground bulk mining assessments to be completed 22

  23. Slide 23: Happy Jack to Bulletin – Resource this quarter

    Happy Jack to Bulletin – Resource this quarter 23

  24. Slide 24: Happy Jack to Bulletin UG - 380koz @ 4.9g/t

    Happy Jack to Bulletin UG - 380koz @ 4.9g/t Mining Inventory New Essex New southern 2.4Mt @ 4.9g/t for decline Bulletin Incline 380koz New Essex Resource area Existing infrastructure New Bulletin allows quick Resource area payback 24

  25. Slide 25: Lake Way – large mineralised system with blue sky

    Lake Way – large mineralised system with blue sky  19km south along strike from Wiluna  Large tonnage potential  Historically Willamson produced 663kt@2.0g/t for 42,000Au  Free milling 95% DFS recoveries  Main lode up to 40m wide  High grade underground gold 3m@40.1g/t 4.3m@17.0g/t 3.5m@35.5g/

  26. Slide 26: Lake Way large tonnage potential

    Lake Way large tonnage potential  2.5kms of strike with continuous mineralisation  Potential large tonnage, near surface  SAM’s surveys defined structure. Existing auger & air core. Gravity and seismic surveys competed  Very limited drilling into primary mineralisation Exploration targets with g

  27. Slide 27: Blackham’s Matilda/Wiluna Vision

    Blackham’s Matilda/Wiluna Vision  Gold production growing and costs decreasing each quarter  + 3 years worth of oxide reserves  Large scale gold systems with 6.2Moz resource and long mine life likely  Very few Australian gold operations produce +200,000ozpa with long mine lives 27

  28. Slide 28: Matilda/Wiluna Gold Resources grow 25% for Qtr

    Matilda/Wiluna Gold Resources grow 25% for Qtr Matilda Gold Project Resource Summary OPEN PIT RESOURCES Measured Indicated Inferred Total 100% Mining Centre Koz g/t Mt g/t A u Koz A u Mt g/t A u Koz A u Mt g/t A u Mt Koz A u Au Au Matilda Mine OP 0.9 1.5 44 6.1 1.7 340 4.1 1.4 185 11.1 1.6 569 Galax

  29. Slide 29: Appendix: Gold Reserves

    Appendix: Gold Reserves Mined Reserve Mine Category Tonnes g/t Oz Matilda Mine Proven 195,000 1.9 12,000 Matilda Mine Probable 3,297,000 1.8 192,000 Golden Age Probable 112,000 6.0 21,000 Galaxy Probable 338,000 2.8 30,000 Williamson Probable 1,517,000 1.4 69,000 Bulletin Sulphides Probable 938,000

  30. Slide 30: Growing the Mine Life from Large Gold Systems

    Growing the Mine Life from Large Gold Systems Limited drilling to date Reserves 7.0Mt @ 2.5g/t for 560koz Matilda Golden Age Mine Plan 9.3Mt @ 2.9g/t for 873koz Galaxy, Williamson Bulletin, East & West Lodes Resource 63Mt@3.2g/t for 6.4Moz (49% Indicated) Matilda pit extensions, Mining studies in pr

  31. Slide 31: Just Scratching the Surface

    Just Scratching the Surface 31

  32. Slide 32: Mining One Reef with 15km of Reef Prospects

    Mining One Reef with 15km of Reef Prospects Commence UG mining Golden Age Expand resource and reserve base Commence Galaxy open pit Add 2nd UG mining area Aim to stabilize 50,000ozpa from reefs 32

  33. Slide 33: Mining Plan the Key to Unlocking Value

    Mining Plan the Key to Unlocking Value 33

  34. Slide 34: 4.3Moz Wiluna production & lot more to come

    4.3Moz Wiluna production & lot more to come ►Long History of Production +4.3Moz ►Historical Oxide, Quartz, Tailings ~1Moz ►BIOX Fitted to Existing Oxide Plant (Comm May 1993) ►2007: Project broken up - Wiluna mine assets sold to Apex for $29.5M ►Apex spends $71M on exploration expenditure ►Nov 2011

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