Challenger Gold Limited · ASX:CEL
Challenger Gold — Emerging Growth Conference (May 2024)
32 slides from Challenger Gold's conference presentation, May 30, 2024
Slide 1: Challenger Gold Limited – Emerging Growth Conference
ASX: CEL For personal use only OTC : CLLEF Challenger Gold Limited Emerging Growth Conference 29 May 2024 Hualilan Gold Project : Cerro Sur looking north to Cerro Norte Challenger Gold Limited Argentina and Ecuador Gold / Copper Projects 1
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER DISCLAIMER This presentation is for informational purposes only and does not constitute an offer to sell, or solicitation to purchase, any securities. Such Offer can be made only through proper subscription documentation and only to investors meeting strict suitabili
Slide 3: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER SCOPING STUDY All references to the Scoping Study and its outcomes in this report relate to the announcement dated 8 November 2023 "Hualilan Gold Project Scoping Study". Please refer to that announcement for full details and supporting information. For personal use o
Slide 4: Challenger Exploration Snapshot
CHALLENGER EXPLORATION SNAPSHOT Two significant discoveries, both with grade and scale, provide strategic flexibility Hualilan Gold Project El Guayabo Gold-Copper Project 100% Owned 50-100% - El Oro; Ecuador For personal use only 2.8 Moz1 Gold Resource EL GUAYABO/COLORADO V GOLD - 4.5Moz AuEq COPPER
Slide 5: Corporate Snapshot
CORPORATE SNAPSHOT An experienced Board & Management team with a proven track record Key Executives Kris Knauer Sergio Sonia Delago Mike Zivcic Stuart For personal use only CEO & Rotondo Exec Director COO Munroe Director Exec Exploration Charman Manager • Exploration geologist. • Background in const
Slide 6: Hualilan Gold Project (before)
Hualilan Gold Project (before) taken 11 October 2019 GNDD-001 in maiden 2000 metre drill program For personal use only 6
Slide 7: Hualilan Gold Project (after)
Hualilan Gold Project (after) taken 6 August 2022 GNDD-725 in progress for 200,000 metres of drilling For personal use only 7
Slide 8: Market Conditions Over the Past 2.5 Years
MARKET CONDITIONS OVER THE PAST 2.5 YEARS Massive disconnect between explorers and producers that is showing signs of beginning to normalise For personal use only 2024 Source – Lion Selection Group 8
Slide 9: Share Price and Key Events Since IPO in 2019
SHARE PRICE AND KEY EVENTS SINCE IPO IN 2019 The past 2-year bear market for gold explorers and developers has created an investment opportunity 2.8 Moz $42M 1.8 Moz resource For personal use only Raise at Resource Ecuador Hualilan 0.28 Hualilan Drilling starts 5-Rigs Ecuador drilling Drilling $10M
Slide 10: Hualilan Gold Project
For personal use only Hualilan Gold Project San Juan Argentina 10
Slide 11: Hualilan Gold Project – Political Considerations
HUALILAN GOLD PROJECT – POLITICAL CONSIDERATIONS Investment climate in Argentina has transformed from negative to positive Located in San Juan Argentina ▪ Voted number 1 mining jurisdiction in South America in the For personal use only Jose Maria most recent Fraser Institute Survey Lundin Group Key
Slide 12: Building a District Scale Footprint at Hualilan
BUILDING A DISTRICT SCALE FOOTPRINT AT HUALILAN Discoveries like Hualilan seldom occour in isolation – hence a 600 sqkm footprint which is unexplored 2.8 Moz 2.2 km For personal use only Resource Resource (marked in red) Strike Existing Mineral Resource (US$1800 optimised pit shell) 3.5km 600 km2 Mi
Slide 13: Mineral Resource Estimate (MRE)
MINERAL RESOURCE ESTIMATE (MRE) Grade tonnage distribution provides significant optionality and flexibility ▪ Mineral Resource Estimate (MRE) increases to 2.8 million ounces (AuEq)2 . Total MRE at various cut off grades For personal use only Cut-off (g/t Au Ag Zn Pb AuEq Oz ▪ High-grade core the foc
Slide 14: Scoping Study – Key Deliverables
SCOPING STUDY – KEY DELIVERABLES Study targeted the high-grade core of the deposit to ensure a credible funding pathway Objectives of the Scoping Study targeting ▪ The Scoping Study focussed on the high-grade core of the mineralisation (1.5 Moz at 5 g/t AuEq). For personal use only ▪ Low-CAPEX ensur
Slide 15: Starting Point – Current Scoping Study
STARTING POINT – CURRENT SCOPING STUDY Hualilan in a exceptional asset with significant upside Production and Operating Costs For personal use only ▪ Average annual production target of 116,000 oz gold, 440,000 oz silver and 9,175 tonnes zinc (141,000 oz AuEq2). ▪ Global lowest-quartile C1 cash cost
Slide 16: Scoping Study Highlights
SCOPING STUDY HIGHLIGHTS A Future Top 20 ASX Producer based on Study Forecasts Production Revenue Commodity Price Assumptions For personal use only 953koz AuEq : LOM US$1.5Bn Au (US$1750/oz), Ag (US$20/oz) 141koz : Average Annual A$2.3Bn Zn (US$1.15/lb), Pb (US$0.94/lb) Open Pit Mining Physicals EBI
Slide 17: Mining and Processing
MINING AND PROCESSING Three independent underground working áreas provide flexibility and mitigate mining risk ▪ Vanilla open pit operation For personal use only split across three zones (four single cutback pits) targeting 200 kt of mining per month. ▪ Small OP fleet, low operator labour quantities
Slide 18: Immediate Project Upside
IMMEDIATE PROJECT UPSIDE Several material opportunities to significantly improve the Study Outcome identified Material Upside to Scoping Study in Pre-Feasility Study For personal use only ▪ The Company has identified several clear and material opportunities for improvement of the Scoping Study outco
Slide 19: Potential Larger Open Pit Option in PFS Case
POTENTIAL LARGER OPEN PIT OPTION IN PFS CASE Recent Pit Optimisation assuming Heap Leach recoveries of 60% For personal use only Pit Optimisation incorporating heap leach option – post Scoping Study Scoping Study open pit and underground mine plan 19
Slide 20: The Exciting Opportunity at Hualilan
THE EXCITING OPPORTUNITY AT HUALILAN Exploration has only focussed on one side of the intrusion responsible for Hualilan Initial regional exploration delivers ▪ More than 75% into the program with early results For personal use only developing significant new targets. ▪ High-grade Au-Ag stream sedim
Slide 21: 5-Kilometre Copper Target
5-KILOMETRE COPPER TARGET Defined by regional exploration 5-kilometre Copper target south of Hualilan ▪ 5-km x 4-km copper in soil anomaly the southeast of Hualian For personal use only ▪ Remains open with the strongest anomaly at the southern edge. ▪ Coincident iodine anomaly which is a pathfinder
Slide 22: El Guayabo/Colorado V Project
For personal use only El Guayabo/Colorado V Project Ecuador 22
Slide 23: Ecuador Overview
ECUADOR OVERVIEW Supportive Government Why Ecuador ? For personal use only ▪ host to world-class copper-gold deposits, in one of the most prospective and under explored belts ▪ 2015 - established the Mines Ministry and worked to initiate a sustainable long-term mining industry ▪ 2016 - makes new con
Slide 24: Project Overview
PROJECT OVERVIEW Significant achievements to date ▪ Acquired 100% Guayabo Concession Code:225 (281 Ha) in 2019 For personal use only ▪ Acquired farmin rights to acquire 100% of an additional 4 surrounding concessions of Cerro Pelado 1, 2 and 3 (64 Ha) and El Guayabo 2 (957 Ha) ▪ JV option with Goldk
Slide 25: Maiden Ecuador Mineral Resource Estimate (MRE)
MAIDEN ECUADOR MINERAL RESOURCE ESTIMATE (MRE) Just a start - Based on 3 of the 7 anomalies to produce significant drill intersections • Maiden El Guayabo MRE of 4.5 million ounces at 0.52 g/t (AuEq)2 270mt at 0.4 g/t Au, 2.6 g/t Ag, 0.1% Cu, 7.2 ppm Mo (0.3 g/t AuEq For personal use only ▪ cut-off)
Slide 26: Coherent Near Surface High-Grade Component
COHERENT NEAR SURFACE HIGH-GRADE COMPONENT Potential to provide high-grade starter feed. Upper 200 metres of this high-grade zone untested due to topography Grade Tonnage Table (4.5 Moz2 MRE) For personal use only Cut-off AuEq oz g/t (AuEq) mt (g/t) (AuEq) 0.20 450.5 0.42 6,011,670 0.25 361.4 0.46 5
Slide 27: Colorado V Resource Drilling Program
COLORADO V RESOURCE DRILLING PROGRAM Resource drilling program on two additional discoveries • Au-Cu soil anomalies 1km x 0.5km For personal use only • Outstanding results with first 10 holes intersecting mineralisation including several with mineralisation from surface to eoh: ▪ 773.9m* at 0.4 g/t
Slide 28: Long Section El Guayabo to Colorado V
LONG SECTION EL GUAYABO TO COLORADO V El Guayabo is 500 metres higher in the section than Cangrejos hence higher-grade intrusive breccia mineralisation • Au-Cu soil anomalies 1km x 0.5km For personal use only • Outstanding results with first 10 holes intersecting mineralisation including several wit
Slide 29: Accomplishments We Are Most Proud Of
ACCOMPLISHMENTS WE ARE MOST PROUD OF We become part of the local community • We have been in Ecuador 4 years Some of the Challenger Exploration Team at Hualilan For personal use only • Direct Jobs created: 25 • Indirect Jobs created: 50 • Community businesses created: 3 • Emergency food backs donate
Slide 30: Why Invest in Challenger Gold
WHY INVEST IN CHALLENGER GOLD Significant Value Add to Hualilan and Ecuador during the remainder of 2024 and 2025 Why Invest in Challenger Gold Milestones/Catalysts 2024 For personal use only 1. Newsflow and several catalysts in the short term ▪ June 2024 – First Ecuador drill results (ongoing) 2. D
Slide 31: Questions
CHALLENGER GOLD LIMITED (ASX:CEL) ACN 123 591 382 Level 1, 1205 Hay Street, West Perth WA 6005 | P: +61 8 6380 9235 Challenger Gold Limited For personal use only Questions ASX Ticker : CEL OTC Ticker CLLEF Kris Knauer Sergio Rotondo Sonia Delago Jane Morgan CEO & Managing Director Executive Chairman
Slide 32: Mineral Resource Estimates and AuEq Information
MINERAL RESOURCE ESTIMATES AND AUEQ INFORMATION JORC 2012 Compliant MRE’S released March 2023 and June 2023 Au Ag AuEq 1 Gold Equivalent (AuEq) values Hualilan Gold Project- Requirements g/t g/t Zn % Pb % AuEq g/t (Mozs) Domain Category Mt under the JORC Code (El Guayabo Gold-Copper Project) For per
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