Slide 1: Implementing a New Gawler Craton Exploration Strategy
SA Aurora Tank Gawler Craton MARMOTA’S GOLD FOCUS – Implementing a New GAWLER CRATON Exploration Strategy SAREIC CONFERENCE MAY 2017 KEVIN WILLS, Chief Consulting Geologist 1
Slide 2: Outline
OUTLINE • Corporate snapshot • Gold discovery in the NW Gawler Craton • Marmota’s gold exploration strategy • Gold discovery at Aurora Tank • Future milestones SAREIC CONFERENCE MAY 2017 2
Slide 3: Corporate Snapshot
Corporate Snapshot ASX: MEU CORPORATE SNAPSHOT ASX: MEU Capital Structure Largest Shareholders* Shares on issue 517 m Options 0 Dr Colin Rose Unlisted options 7m Southern Cross Capital Market Cap (at 1.4 cents per share) ~ $7.2 m J Rose Cash (as at 31 March 2017) $1,328,000 Yandal Investments (Mark
Slide 4: Gold Discovery in the NW Gawler Craton
GOLD DISCOVERY IN THE NW GAWLER CRATON • Archaean rocks of NW Gawler Craton highly prospective for gold • ‘Old timers’ found a few deposits such as Earea Dam & Malbooma by prospecting • No drainage or exposure over most of Craton so prospecting is generally ineffective • Recognition in 1992 that cal
Slide 5: Marmota's Gawler Craton Gold Tenements
GOLD DISCOVERY IN THE NW GAWLER CRATON Marmota’s Gawler Craton Gold Tenements 350,000m E 400,000m E 450,000m E Aurora Tank Marmota’s tenements in the Gawler Craton, South Australia around the Challenger Gold Mine 6,700,000m N LC • Total area 5,700km2 Challenger • Centred on the Challenger Gold Mine
Slide 6: Challenger Discovery Geochemistry
GOLD DISCOVERY IN THE NW GAWLER CRATON Challenger Discovery Geochemistry • October 1994 1.6km spaced sampling gave 180ppb gold anomaly with 3-7ppb halo • Infill located a major anomaly peaking at 620ppb • Drilling confirmed Challenger discovery in May 1995 • If original sample was 200m away it would
Slide 7: Gold-in-Calcrete Anomalies Depend on Thickness of Cover
GOLD DISCOVERY IN THE NW GAWLER CRATON Gold-in-Calcrete Anomalies Depend on Thickness of Cover Gold-in-Calcrete: 1000ppb Au anomaly Gold-in-Calcrete: Where there is no 1000ppb Au 10-20m of sedimentary 100ppb Au 100ppb Au anomaly sedimentary cover 0 Calc rete profi le Surface cover causes lower 0 Cal
Slide 8: Gold-in-Calcrete Anomalies Depend on Thickness of Cover
GOLD DISCOVERY IN THE NW GAWLER CRATON Gold-in-Calcrete Anomalies Depend on Thickness of Cover Gold-in-Calcrete: Gold-in-Calcrete: No anomaly Where there is thicker 10ppb Au 7ppb Au anomaly With blind 10ppb Au sedimentary cover 0 Calcrete profile Surface mineralisation below 0 Calcrete profile Surfa
Slide 9: Law of Secondary Gold Dispersion
GOLD DISCOVERY IN THE NW GAWLER CRATON Law of Secondary Gold Dispersion • Shallow drilling to 50 metres depth provides a 3D understanding of the geometry of gold dispersion • The “Law of Secondary Dispersion” says: grades decrease as you move away from the primary mineralisation • So, if you follow
Slide 10: Marmota's Gold Exploration Strategy
MARMOTA’S GOLD EXPLORATION STRATEGY • Seeking the next Challenger – or something new – with higher ounces per vertical metre • Challenger (right) has produced over 1 million ounces of high-grade profitable gold • Marmota has a highly prospective tenement holding of 5700 sq km around Challenger • Mar
Slide 11: How Regolith Cover Affects Attractiveness for Exploration
MARMOTA’S GOLD EXPLORATION STRATEGY How Regolith Cover Affects Attractiveness for Exploration Type C Type A Type B Type C • Marmota wants to find orebodies at Deep basin On - basement cover On - lapping Deep basin shallow depth – to improve economics basin 500m • i.e. under shallow regolith cover Pr
Slide 12: The Perfect Under-Cover Exploration Scenario
MARMOTA’S GOLD EXPLORATION STRATEGY The Perfect Under-Cover Exploration Scenario Thin (<2m) but laterally continuous transported cover (eg Eolian sand) - effective barrier to traditional surface exploration. Supergene dispersion halo Strong weathering of basement - large lateral Steeply dipping ore
Slide 13: Previous Regional Calcrete Sampling
MARMOTA’S GOLD EXPLORATION STRATEGY Previous Regional Calcrete Sampling 300,000m E 350,000m E 400,000m E 450,000m E Golf Bore Campfire Bore Mines Department Campfire Bore Aurora Tank data showing calcrete sample locations in the 6,700,000m N Challenger area Challenger • Most of Marmota’s tenements A
Slide 14: Proposed Calcrete Infill Sampling and Targets
MARMOTA’S GOLD EXPLORATION STRATEGY Proposed Calcrete Infill Sampling and Targets 300,000 325,000 350,000 375,000 400,000 425,000 450,000 6,725,000 6,725,000 • Large area of 800m spaced Aurora Tank ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! infill sampling planned by ! ! ! ! ! ! ! !
Slide 15: CAR Prospect Gold-in-Calcrete Distribution
MARMOTA’S GOLD EXPLORATION STRATEGY 9 11 8 7 7 10 10 14 4 7 4 3 10 14 7 ( ! ! ( ( ! ( ! ( ! ! ( ! ( ! ( ( ! ( ! ( ! ( ! ! ( ! ( ( ! CAR Prospect Gold-in-Calcrete Distribution 10 16 12 12 6 2 8 10 6 1 11 3 5 21 8 ! ( ! ( ! ( ! ( ( ! ( ! ( ! ! ( ( ! ( ! ! ( ( ! ( ! ! ( ( ! 3 11 18 14 9 6 3 14 26 29 20
Slide 16: Aurora Tank Prospect Gold Discovery
AURORA TANK PROSPECT Gold Discovery • Aurora Tank has been known as a gold prospect since it was discovered by calcrete sampling in 1997 • Intermittent historical exploration consisted of calcrete sampling between 1997 and 2013 and drilling between 1999 and 2015 • Historical drill holes were too wid
Slide 17: Predicted Pre-drilling 'Supergene Mushroom' Model
AURORA TANK KJ EXPLORATION PROSPECT PTY LTD, ABN: 40 401 738 787, 4 VANTAGE WAY, SA 5152 Predicted Pre-drilling ‘Supergene Mushroom’ Model _______________________________________________________________ • Model created from pre-2015 drilling of the Goshawk zone at Aurora Tank • Note lateral extent o
Slide 18: Aurora Tank Prospect Cross Section
AURORA TANK PROSPECT CROSS SECTION 35 412,350 mE 6,715,950 mN 6,715,900 mN 6,715,800 mN 412,400 mE 412,450 mE • Gold results from NW 160mRL SE 2016 drilling 64 63 62 61 60 59 T0 T0 T0 T0 T0 T0 • Note similarity to A A A A A A 16 16 16 16 16 16 29 61 23 23 16 10 150mRL 28 20 29 41 6 20 23 18 4 11 5 9
Slide 19: 2016 Goshawk Drill Results
AURORA TANK PROSPECT 2016 Goshawk Drill Results • Map shows all holes Phase 1 drill results 2m @ 5.7 g/t Au incl. 1m @ 10.6 g/t Au 8m @ 3.6 g/t Au incl. 1m @ 10.3 g/t Au drilled to date – phase 1 circles (white bubbles), Drill Results Recent Phase 2 2m @ 7.7 g/t Au drill results 1m @ 6.3 g/t Au incl
Slide 20: Proposed 2017 Drilling
6,716,400 6,716,400 411,800 412,000 412,200 412,400 412,600 412,800 413,000 413,200 413,400 AURORA TANK PROSPECT Proposed 2017 Drilling 6,716,200 6,716,200 GOSHAWK 6,716,000 6,716,000 • Proposed infill drilling for June 2017 to complete program 6,715,800 6,715,800 • Designed to provide sufficient 6,
Slide 21: Future Milestones
FUTURE MILESTONES AURORA TANK • June: Expanded Phase 2 drilling at Goshawk • Commence metallurgical testwork • Estimate Inferred Resource in third quarter • Commence drilling over Kingfisher Prospect GAWLER EXPLORATION TASKFORCE (GET) • May 2017: Calcrete sampling has commenced • Regional assessment
Slide 22: Disclaimer
DISCLAIMER Disclaimer This presentation has been prepared by Marmota Limited (“MEU”). The information contained in this presentation is a FOR FURTHER professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though MEU has no r