Slide 1: Critical Metals Exploration in Northeast Victoria – Bethanga Drilling Update
CRITICAL METALS EXPLORATION IN NORTHEAST VICTORIA – BETHANGA DRILLING UPDATE AIG TECHNICAL PRESENTATION 27-28 JUNE 2024 nexus-minerals.com 1
Slide 2: Disclaimer
DISCLAIMER • This document contains forward looking statements. Forward looking statements are not based on historical facts, but are based on Nexus’s current expectations of future results or events. These forward looking statements are subject to risks, uncertainties and assumptions which could ca
Slide 3: Company Projects
COMPANY Darwin PROJECTS Port Hedland NORTHERN Cairns Townsville TARGETING: WESTERN TERRITORY Rockhampton AUSTRALIA QUEENSLAND WESTERN AUSTRALIA Eastern Goldfields Brisbane Large scale gold deposits in SOUTH AUSTRALIA WA’s Eastern Goldfields Kalgoorlie NEW SOUTH WALES Perth Bethanga Newcastle Esperan
Slide 4: Magmatic Hydrothermal Systems
COMPANY PROJECTS CONCEPTUAL APPROACH VICTORIA & NEW SOUTH WALES MAGMATIC HYDROTHERMAL SYSTEMS • Magmas associated with porphyry Cu-Au systems are typically: - Oxidised to strongly oxidised (magnetite series) (From Blevin et al., 1996) - Poorly evolved, primitive melts (K/Rb ratio >250) - Poorly frac
Slide 5: Bethanga Porphyry Cu-Au Project
COMPANY PROJECTS BETHANGA PORPHYRY Cu-AU PROJECT TARGETING = LARGE SCALE PORPHYRY Cu-Au SYSTEM • Exploration Tenements cover 130km2 • Located in Australia’s premier Porphyry Copper-Gold geological terrain • Same Paleozoic rock package as the world class Cadia-Ridgeway and Northparkes Porphyry Copper
Slide 6: Victorian Overview
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA VICTORIAN OVERVIEW Structural Zones of Victoria VICTORIA Approximate boundary between Late Devonian and older granites Approximate Selwyn Block boundary at depth ACT Stawell Approximate Costerfield stibnite domain Zone BETHANGA Cu-Au-Ag Bendi
Slide 7: Porphyry Cu-Au Fertility Study Positive Results
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA PORPHYRY Cu-Au FERTILITY STUDY POSITIVE RESULTS Geochemistry • Rock samples of hornblende-bearing granodiorite to diorite compositions plot in the prospective field for western Pacific porphyry Cu systems and are moderately oxidised • Lithoge
Slide 8: Porphyry Cu-Au Exploration Model
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA PORPHYRY Cu-Au EXPLORATION MODEL (Modified from Cohen, 2011) • Inner magnetic potassic core containing alteration minerals magnetite, biotite and K- feldspar. • Intermediate non-magnetic phyllic zone containing quartz, sericite/white mica (il
Slide 9: Porphyry Cu-Au 2024 Diamond Drilling
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA PORPHYRY Cu-Au 2024 DIAMOND DRILLING • 1,516 m of diamond drilling in three holes to test magnetic and geochemical targets in the multi-element porphyry target zone Bethanga and beneath the Welcome Lode • 84 samples collected for assay and 4-
Slide 10: Porphyry Cu-Au Porphyry Fertility Confirmed
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA PORPHYRY Cu-Au PORPHYRY FERTILITY CONFIRMED • Magnetic, hornblende-bearing diorite and some granodiorite samples plot in the prospective field of Ahmed et al. (2019) • Some diorite and granodiorite samples also show adakite affinities with Sr
Slide 11: Porphyry Cu-Au Diorite Intrusive Rocks
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA PORPHYRY Cu-Au DIORITE INTRUSIVE ROCKS • Medium to fine grained, hornblende- bearing diorite; hornblende altered to chlorite • Magnetic susceptibility between 3.32 and 24.9 SI x 10-3; may explain local magnetic highs south of Bethanga • Local
Slide 12: Porphyry Cu-Au Hydrothermal Alteration
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA PORPHYRY Cu-Au HYDROTHERMAL ALTERATION • Geochemical data from most samples indicate feldspar-destructive phyllic alteration associated with the highest Sb values (up to 33 ppm) • Logged alteration varies from chloritic to sericitic • Hypersp
Slide 13: Porphyry Cu-Au NMBGDD24-003 Down-Hole Plot
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA PORPHYRY Cu-Au NMBGDD24-003 DOWN-HOLE PLOT 13
Slide 14: Porphyry Cu-Au NMBGDD24-003 163.5 to 170.1 m
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA PORPHYRY Cu-Au NMBGDD24-003 163.5 TO 170.1 M • Sample NMBG069 (167 – 168 m) - 3.23 ppm Au - 2.66 ppm Ag - 9840 ppm As - 36.3 ppm Bi - 474 ppm Cu - 0.87 ppm Mo - 46.4 ppm Pb - 14.75 ppm Sb - 103 ppm Zn • Pyrite, illite, kaolinite (?), ferroan
Slide 15: Bethanga Cu-Au Conclusions
COMPANY PROJECTS BETHANGA PORPHYRY Cu-Au PROJECT VICTORIA BETHANGA Cu-Au CONCLUSIONS Bethanga • Lithogeochemical data from post-Bethanga historical workings? Gneiss granodiorite to diorite intrusions are consistent with a fertile porphyry Cu magmatic hydrothermal system • Enrichments of As, Sb and B
Slide 16: Summary
SUMMARY VICTORIA AND NSW CRITICAL MINERALS • Bethanga Porphyry Cu-Au project ⮚ Diamond drill program completed – project review underway • NSW & Victoria Critical Minerals project – ~15,000km² granted tenure ⮚ Processing of regional geophysical datasets ⮚ Ground reconnaissance mapping and sampling c