Polarx Ltd · ASX:PXX
Polarx — Investor Presentation (June 2024)
27 slides from Polarx's investor presentation, June 2024
Slide 1: Advancing High-Grade Discoveries to Production
Advancing High-Grade Discoveries to Production June 2024 ASX: PXX www.polarx.com.au 1
Slide 2: USA focus
ASX PXX USA focus Advancing Alaska Range Mine Development: Total JORC resource 11.2Mt; 269,375t Cu, 213,000oz Au and 3,131,000oz Ag. 2024 Mine Scoping Study:A$625m pre-tax NPV, A$223m Capex, 74% IRR. 1.6-year payback. Stellar Property (100% PXX) • 4.0Mt @ 1.1% Cu + 1.6g/t Au + 12.6g/t Ag JORC at Zac
Slide 3: Strong management backed by strong investors
ASX PXX Strong management backed by strong investors Key Executives and Management: (March Q 2024 adj. for capital raised and Caribou option exercise): Mr. Mark Bojanjac (Executive Chairman) MKT CAP: A$24M A Chartered Accountant with >25 years experience in the resource CASH: ~A3.0M sector. Has led
Slide 4: USA's Mineral Frontier
ASX PXX Alaska: USA’s Mineral Frontier TIER 1 Geology: One of the world’s great mineral provinces: • Over 40Moz Au mined to date Pogo Northern Star • More than 200Moz Au under development/feasibility study 20.7Mt @ 10.9 g/t Au For 7.36M ozs • In the world’s most productive copper belt, >50Mt Cu in f
Slide 5: Alaska Range: Overview
ASX PXX Alaska Range: Overview Alaska State Mining Claims) covering ~261km2 Caribou Dome • Contributing/Diluting JV Agreement at Caribou Dome (PXX owns 80%) and Senator (PXX owns 90%) • Massive sulphides remain open at depth and along strike • JORC resource more than doubled to 7.2Mt @ 3.1% Cu and 1
Slide 6: Grade is King
ASX PXX Grade is King % Source: Ivanhoe Mines website PFS. All others from miningforzambia.com “the ten highest grade copper mines in the world” 2019
Slide 7: Compelling 2024 Scoping Study
ASX PXX Caribou Dome & Zackly Combined: Compelling 2024 Scoping Study Revenue Total EBITDA US$1,491 M US$825 M Total JORC resource est. of 11.2Mt containing: A$2,294 M ($0.65) A$1,269 M 269,375t Copper, C1 Cash Cost Operating Margin 213,000oz Gold, and US$1.36 / lb 55% A$2.10 / lb 11 3,131,000oz Sil
Slide 8: Sensitivity = Next Steps
Revenue ASX PXX Caribou Dome & Zackly Combined: Sensitivity = Next Steps Sensitivity Analysis indicates: Assuming constant grades $US M A$ M Metallurgy @0.65 Recently Increased Recovery and Concentrate grades delivered Base Case pre-tax NPV 406 625 the biggest uplift. Further metallurgical test-work
Slide 9: Metals Prices UP since 2024 Scoping Study
ASX PXX Metals Prices UP since 2024 Scoping Study US$8,500/t US$1,900/oz US$25/oz
Slide 10: Very high-grade surface copper
ASX PXX Caribou Dome: Very high-grade surface copper • 4-5% Copper from surface! • Drill intersections over >800m strike-length • Open in all directions • Many un-tested 3D-IP and soil anomalies within 1km of mineral resource • 80% earn-in completed in June 2024 Possible stage 1 open Possible stage
Slide 11: 2024 Current Drilling
ASX PXX Caribou Dome: 2024 Current Drilling CD24-001 Massive Sulphide Mineralisation Intercalated Calcified Sediments Massive sulphide Mafic Volcanics (Andesite) Fault Contacts mineralised intercepts CD24-002 CD24-003 8.3m 12.6m 11
Slide 12: High-grade Copper/Gold
ASX PXX Zackly Deposit: High-grade Copper/Gold Long-section View Looking toward the North • 5km long skarn system with high-grade gold, copper and Zackly Main Skarn 4Mt @ 1.1% Cu, 1.6g/t Au, 12.6g/t Ag silver from surface and open to at least ~400m depth Sub-vertical 1km strike-length Average ~5m tr
Slide 13: 5km of copper/gold strike to be tested
ASX PXX Stellar Property, Zackly Deposit: 5km of copper/gold strike to be tested • Zackly Main JORC resource is all within just 1km of strike and occurs along a structure with a strong magnetic gradient • Mineralisation now confirmed along strike over >800m East extending mineralised strike-length t
Slide 14: Porphyry Copper/Gold potential
ASX PXX Stellar Property, Zackly Deposit: Porphyry Copper/Gold potential Broad spaced (500m) soil sampling shows 2 highly significant copper anomalies, both >250ppm, ~11km x 6km in size MARS (Porphyry, skarn) • 2km x 1.5km soil anomaly with visible copper oxides at surface, up to 3,510ppm Cu and 1.1
Slide 15: Mars porphyry Cu-Au discovery
ASX PXX Stellar Property: Mars porphyry Cu-Au discovery • Porphyry Cu-Au discovered in first (and only) drill hole 3-D drill hole plot showing increasing copper grade 9MAR001: 102m @ 0.22% Cu + 0.1g/t Au (magenta discs) once into the zone of potassic alteration below a 1200m x 800m Cu-Au-As-Mo soil
Slide 16: High-grade Gold / Silver
ASX PXX Humboldt Range: High-grade Gold / Silver Star Canyon Project Highlights • +75% of USA’s annual gold production • Close to active multi million-ounce gold and silver mines • 2 claim blocks: Black Canyon and Fourth of July • Very high grades of Au and Ag in drilling, outcrop, historic workings
Slide 17: Black Canyon Claims
ASX PXX Humboldt Range: Black Canyon Claims • Owned by same family since 1950 Star Canyon 9.1m @ 124.36 g/t Au, 48.6 g/t Ag • Limited exploration since mining ceased in 1927 • High-grade assays from previous rock-chip sampling of outcropping veins and grab sampling from the dumps of old mine working
Slide 18: Numerous Other Vein Systems – Never Drilled
ASX PXX Numerous Other Vein Systems – Never Drilled Ridgeline anomaly veins above The Golden Staircase veins Star Canyon 69m @ 1.10 g/t Au, 7.65 g/t Ag (channel)
Slide 19: Gold + Silver …. Everywhere
ASX PXX Star Canyon: Gold + Silver …. Everywhere BC22-005: 9.1m @ 124.36 g/t Au, 48.6 g/t Ag 19
Slide 20: Bonanza veins AND Rochester Rhyolite
ASX PXX Bonanza veins AND Rochester Rhyolite FIRST DRILLING • Bonanza grades in quartz veins seen in BC22-005 9.1m @ 124g/t Au + 49g/t Ag • Immediately overlies 73.2m @ 0.3g/t Au + 1.2g/t Ag • Lower grade mineralisation is in Rochester Rhyolite: silicified volcanics with sulphide alteration • Struct
Slide 21: Scale and Proximity to a 5Moz operating gold mine
ASX PXX Black Canyon: Scale and Proximity to a 5Moz operating gold mine 5Moz Florida Canyon Gold Mine >2,700m anomaly trend including mineralised Quartz Veins, soils, alteration and Chargeability 21
Slide 22: Soil sampling highlights scale of opportunity
ASX PXX Soil sampling highlights scale of opportunity • Detailed soil sampling outlined a 3km long gold anomaly • Contains outcropping high-grade veins such as the Monster Vein system • Also contains the Star Canyon area where Rochester Rhyolite mineralisation outcrops • Wide spaced RC drilling unde
Slide 23: Fourth of July Claims
ASX PXX Humboldt Range: Fourth of July Claims Fourth of July Claims 400Moz Rochester silver-gold mine • Metal zonation from silver-rich veins with strong gold credits at southern part of Fourth of July (closest to the Rochester silver mine) to gold-rich veins in Black Canyon (close to Florida Canyon
Slide 24: Very strong Silver/Gold anomalism
ASX PXX Fourth of July: Very strong Silver/Gold anomalism Silver Gold 24
Slide 25: View Forward 2024
ASX PXX View Forward 2024 Activity Q1 2024 Q2 2024 Q3 2024 Q4 2024 Humboldt Range Drill permits & site prep Drilling at Black Canyon Additional Metallurgical test work Caribou Dome resource and Alaska Range Zackly joint scoping study revision Extension Drilling Update Resources 25
Slide 26: Cautionary Statements
ASX PXX Cautionary Statements This presentation has been prepared by PolarX Limited (“the Company”) to assist in informing interested parties about the Company and its progress. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an
Slide 27: Highlights
Highlights Tier 1 copper, gold and silver assets Alaska and Nevada = within world’s top mining exploration and investment precincts Top 40 shareholders own over 60% of PolarX ASX: PXX Northern Star Resources own 16% and also mine in Alaska www.polarx.com.au Mining Scoping Study combines Zackly and C