West African Resources Ltd · ASX:WAF
West African Resources — BMO 26th Global Metals & Mining Conference 2017
20 slides from West African Resources's conference presentation, Feb 27, 2017
Slide 1: Defining a High Grade Gold Project
For personal use only DEFINING A HIGH GRADE GOLD PROJECT BMO 26TH GLOBAL METALS & MINING CONFERENCE MIAMI - FEBRUARY 2017 1
Slide 2: Important Notice: Forward-Looking Statements
IMPORTANT NOTICE Forward-Looking Statements For personal use only This presentation “forward-looking information” within the meaning of applicable Canadian and Australian securities legislation, including information relating to West African's future financial or operating performance that may be de
Slide 3: Sanbrado: A high grade gold project
SANBRADO GOLD PROJECT BURKINA FASO For personal use only Sanbrado: A high grade gold project Recent transformational exploration success has underpinned a planned CIL development High-grade discovery March 2016: – TAN16-RC122: 12m at 53.11g/t Au, including 1m at 534.45g/t Au – TAN16-DD033: 4m at
Slide 4: Corporate Overview
CORPORATE OVERVIEW For personal use only ASX & TSX-V: WAF Share Price (ASX) Total Ordinary Shares on Issue 483.9m Options on issue 56.4m Top 20 Shareholders 55% Cash A$16.5m Market Capitalisation A$121m (at 25c/share) Substantial Shareholders 1832 Asset Mgt (Dynamic Funds) 8.2% Board and Management
Slide 5: Experienced Board & Management
EXPERIENCED BOARD & MANAGEMENT Board of Directors For personal use only Richard Hyde Geologist with 20 years of experience in the minerals industry and more than 15 years of experience in West Africa. Founding Managing Director and CEO shareholder and Director of WAF. Mark Connelly Executive with mo
Slide 6: Sanbrado Gold Project
For personal use only SANBRADO GOLD PROJECT 6
Slide 7: Overview of the Sanbrado Gold Project
OVERVIEW OF THE SANBRADO GOLD PROJECT Feb 2017 Mineral Resource 29.4Mt at For personal use only 1.4g/t Au (1.3Moz Ind.), 18.6Mt at 1.4g/t Au (0.8Moz Inf.) M1 South 1.0Mt at 7.2g/t Au (224Koz Ind.), 0.27Mt at 8.6g/t (74Koz Inf.) Over 120,000m of RC & DD drilling M1 South up to 20m true width
Slide 8: M1 South – Ultra High Grades
M1 SOUTH – ULTRA HIGH GRADES Ultra high grade discovery hole at 1st March 2016 For personal use only 12m at 53.11g/t Au, including 1m at 534.45g/t Au 1.0Mt at 7.2g/t Au (224Koz Ind.), 0.27Mt at 8.6g/t (74Koz Inf.) 0.5g/t Au cut off 0.34Mt at 18.5g/t Au (203Koz Ind.), 0.14Mt at 15.8g/t (70Koz Inf
Slide 9: M1 South – Long Section
M1 SOUTH – LONG SECTION Mineralisation remains open at For personal use only depth and along strike Significant high-grade mineralisation remains in Inferred category, requiring infill drilling for conversion Current Probable Reserve 0.8Mt at 8.0g/t Au for 212Koz Strip ratio 35.6 : 1 High
Slide 10: M1 South High Gravity Recoveries
M1 SOUTH HIGH GRAVITY RECOVERIES TAN16-RC122: 12m at 53.11g/t Au including 1m at For personal use only 534.45g/t Au TAN16-DD044: 18m at 82.28g/t Au including 1m at 1,107.5g/t Au 10
Slide 11: M5 Tonnes of Options, Open at Depth
M5 TONNES OF OPTIONS, OPEN AT DEPTH 27.6Mt at 1.2g/t Au for For personal use only 1.0Moz Au (Indicated) and 17.4Moz at 1.3g/t Au 0.7Moz Au (Inferred) Over 10Mt oxide and transitional material Over 65,000m RC and diamond drilling, average depth 140m Ore shoots open at depth plunge steeply to
Slide 12: Overview of the Open Pit Feasibility Study
OVERVIEW OF THE OPEN PIT FEASIBILITY STUDY Forecast annual production of For personal use only +150Kozpa over first 3 years, 93Kozpa over 9 years Two year pay back on US$131 million capex (including pre- production mining and contingency) Low All-In Sustaining Costs (AISC) of US$708/oz first 3
Slide 13: Further Resource Potential
FURTHER RESOURCE POTENTIAL 20,000m drilling campaign 2017 For personal use only adding to the resource inventory and upgrading inferred resources M1 South 10,000m diamond drilling, 25 x 25m infill to upgrade inferred resources and 25m x 50m centres to test mineralisation to 500m vertical The G
Slide 14: Exploration Project Pipeline
EXPLORATION PROJECT PIPELINE For personal use only WAF still the largest ASX landholder in Burkina Faso with +1,000km² of greenstone belts 70Mt Sartenga Copper-Gold-Molybdenum Project 8km Sartenga South Trend - 20m at 2.5g/t Au from 36m 10km Moktedu Trend - 28m at 9.2g/t Au from surface 10
Slide 15: 2017 What to Expect
2017 WHAT TO EXPECT… +50,000m Drilling: Infill drilling targeting conversion of Inferred Resources within and For personal use only beneath ore reserve pit shells, follow-up extensional drilling at M1 and M5 Resources & Reserves: update to include >25,000m H1 2017 drilling by Q3 2017 Optimised
Slide 16: Investment Highlights
INVESTMENT HIGHLIGHTS For personal use only Well-funded Burkina Faso focussed gold developer; ASX and TSX-V listed (“WAF”) 100% owned Sanbrado Project, +1,000km² of prospective greenstone belts Development project fully permitted with mining and environmental approvals Recent ultra high grad
Slide 17: Contacts
CONTACTS For personal use only Richard Hyde Managing Director richard@westafricanresources.com +61 8 9481 7344 17
Slide 18: Appendix: Additional Slides
For personal use only APPENDIX: ADDITIONAL SLIDES 18
Slide 19: Mineral Resources & Ore Reserves
MINERAL RESOURCES & ORE RESERVES Sanbrado Gold Project Mineral Resources For personal use only 20th February 2017 Indicated Resource Inferred Resource Cutoff Grade Grade (Au g/t) Tonnes Au Oz Tonnes Au Oz (Au g/t) (Au g/t) 0.5 27,660,000 1.2 1,049,000 17,360,000 1.3 712,000 M5 1 11,100,000 1.9 670,0
Slide 20: Overview of the Open Pit Feasibility Study
OVERVIEW OF THE OPEN PIT FEASIBILITY STUDY Sanbrado Open Pit Feasibility Study – Production and Financial Highlights For personal use only Base case is stated on a 100% basis and a gold price of $1,200/oz (all amounts in US$) Production Y1-3 Average of 150,000oz/yr Production LOM Average of 93,000oz
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