Slide 1: Investor Presentation May 2021
INVESTOR PRESENTATION MAY 2021 Eastern Iron Limited (ASX: EFE) – Iron’s New Horizon
Slide 2: Disclaimer & Compliance Statements
Disclaimer & Compliance Statements This presentation has been prepared by Eastern Iron Limited (“Eastern Iron”, “the Company”). This release may include forward-looking statements. These forward-looking statements are based on management’s expectations and beliefs concerning future events. Forward-l
Slide 3: Eastern Iron's Focus
Eastern Iron’s Focus NOWA NOWA PROJECT Iron Ore Development – Five Mile Eastern Iron is focusing on the exploration and development of Nowa Nowa project in East Victoria. Nowa Nowa Copper Project – Three Mile Figure 1: Location of Nowa Nowa Project 3 Eastern Iron Limited (ASX: EFE) – Iron’s New Hori
Slide 4: Overview
Overview Focus on developing the Five Mile Iron Ore deposit • Previous Definitive Feasibility Study (“DFS”) was completed in 2014. Eastern Iron has engaged Engenium to revise the DFS based on the production of a direct shipping ore (DSO). • Drilling in 2014 established a JORC Resource of 9.05Mt at 5
Slide 5: Capital Raising Summary
Capital Raising Summary • Completed $1.1m Placement1 to sophisticated and professional investors Event Date at an issue price of $0.008 per share and free attaching options on the Prospectus dispatched to Eligible 4 May 2021 basis of one (1) Option for every two (2) Shares issued, in two tranches: S
Slide 6: Corporate Summary
Corporate Summary Proforma capital structure Board & Management Team Shares on issue 745.23M Eddie King Non-Executive Chairman Options 178.77M Myles Fang Non-Executive Director Price1 $0.01 Therese-Marie Taylor Non-Executive Director Cash balance $2.13M Market capitalisation $7.45M EFE Share Price G
Slide 7: Nowa Nowa Project Overview
Nowa Nowa Project Overview Nowa Nowa Iron Ore Project is located in East Gippsland, Eastern Victoria, 270km east of Melbourne and approximately 8km from the township of Nowa Nowa. • Existing global resource of 9.05Mt averaging at 50.8% Fe at a lower cut-off of 40% Fe1. • Nowa Nowa Iron DFS was compl
Slide 8: JORC Resource
JORC Resource The 2014 DFS was authored by Engenium with support from specialist consultants including Mining One, and Coffey Mining (mining study); H&SC (mineral resource estimation); ALS Global and Engenium (metallurgy, process engineering), Earth Systems (environmental); and Planning and Property
Slide 9: Five Mile Iron Ore Deposit
Five Mile Iron Ore Deposit • Massive replacement magnetite mineralisation. • Ore body horizontal is approximately 70 m thick. NDD014 62.9m from 67.7m @ 57.6% Fe, 9.78% SiO2, 1.77% Al2O3, 0.03% P Figure 3: Prospect of Five Mile Deposit 1Refer to the ASX announcement dated 4 Sept 2012 9 Eastern Iron L
Slide 10: Metallurgical Testwork
Metallurgical Testwork • DTR: grinding to -106 micron to produce concentrates at 69% Fe, 3.0% SiO2 with low P (<0.02%), Al2O3 (<0.5%), and S (<0.08%). • Wet LIMS: crushing to -1.6 mm to produce a product at 62% Fe, 6.8% SiO2, 0.64% Al2O3, and 0.4%S, with 72% Fe recovery. • Dry LIMS: crushing to -6 m
Slide 11: Potential Transport Solution
Potential Transport Solution • Excellent infrastructure from mine site to port – simple transport and export solution • Iron ore product is planned to be shipped approximately 220 km along sealed Princess Highway to Port Eden (std. B doubles). • The product is then stockpiled and loaded at the port
Slide 12: Updating 2014 DFS
Updating 2014 DFS EFE has appointed Engenium to update the 2014 DFS which will be based on the production of a DSO with 50% Fe magnetite content. The update of the 2014 DFS will include the following key components: geology and mineral resource; metallurgy test work; mining; processing; infrastructu
Slide 13: Three Mile Deposit
Three Mile Deposit • Previously unrecognized prospective Upper Silurian rock sequence identified as host to magnetite and base metal mineralization in Buchan Rift Zone • Upper Silurian hosts to all major VMS base metal mineralization in SE Aust. Incl • Woodlawn (18Mt Cu/Pb/Zn/Au/Ag) • Captains Flat
Slide 14: Exploration at Three Mile Deposit
Exploration at Three Mile Deposit • VTEM survey has generated several high priority targets, incl Blue Spur, Three Mile, Five Mile and Quarry. • Follow-up ground EM and preliminary drilling on high priority targets recommended • Previous exploration in Nowa Nowa area suggests excellent copper/base m
Slide 15: Proposed Exploration Activities
Proposed Exploration Activities Proposed Drillholes Drillhole MGAE MGAN Depth Azimuth Dip Prop1 599790 5826159 200 300 -60 Prop2 599832 5826133 200 300 -60 Prop3 599689 5826087 200 300 -60 Prop4 599727 5826064 200 300 -60 • A Work Program of Drilling proposal for Three Mile deposit has been resubmit
Slide 16: Future Works
Future Works • Updating the 2014 DFS • Apply for mining licence • Due diligence on potential investment and product off-take • Conduct drilling program on Five Mile Prospect to expand resource tonnage • Commence further drilling on Three Mile Prospect • Additional studies on the Satellite Deposits 1
Slide 17: A: Level 1, 80 Chandos Street, St Leonards, NSW 2065 T: +61 2 9906
A: Level 1, 80 Chandos Street, St Leonards, NSW 2065 T: +61 2 9906 7751 W: www.easterniron.com.au 17 Eastern Iron Limited (ASX: EFE) – Iron’s New Horizon