Slide 1: Investor Update August 2009
For personal use only Investor Update August 2009
Slide 2: Capital Structure
Capital Structure For personal use only • Listed securities 227m • Listed Options 104m (20c in November 2009) • Unlisted Options 55m (incl 48m options to Cliffs @ 40c in May 2011, & 7m staff options) • Major shareholders Cliffs 30%, Passport Capital 6.5%, Hamersley 4.6%, C Ellis 4.7% • Cash Position
Slide 3: Summary Exploration Progress
Summary Exploration Progress For personal use only • Table Hill Mn & Base metals - “a work in progress” • High grade Mn exposed at Wolfe – Drilling September. • Base metal targets (Cu-Au, Ni) at Plenty River – Drilling early Sept. • Infill drilling extends channel Iron at Rocklea – Revised resource
Slide 4: AusQuest Projects
AusQuest Projects For personal use only Wolfe WolfeMn Mn Rocklea RockleaFe Fe Plenty PlentyRiver RiverNiNi Table TableHill HillMn, Mn,NiNi Diamantina DiamantinaCu-Au Cu-Au Dundas DundasAu Au Large tenement holdings across Australia
Slide 5: Table Hill – Regional GEOTEM Survey
Table Hill – Regional GEOTEM Survey For personal use only New targets Identified by 2009 GEOTEM survey Clay alteration 4m@47.5% Mn Fe +/- +/- Mn + 200m Ba Prospects drilled
Slide 6: Table Hill – MN1 Manganese Corridor
Table Hill – MN1 Manganese Corridor For personal use only Clay alteration 1.9m @ 7.8%Mn, 23.2%Fe 4m @ 47.5%Mn New Targets Mn corridor inferred from 2009 drilling and GEOTEM GEOTEM Channel 20 Geology
Slide 7: Table Hill – MN5 Prospect – Ground EM
Table Hill – MN5 Prospect – Ground EM For personal use only Drilling provides evidence for widespread hydrothermal activity – influx of Fe+/- Mn
Slide 8: Table Hill – MN5 Core
Table Hill – MN5 Core For personal use only Mn Hematite (Fe)
Slide 9: Table Hill – MN6 Prospect - Ground EM
Table Hill – MN6 Prospect - Ground EM For personal use only Drilling intersects >200 metres of anomalous Ba (av 2% - up to max 14%) – hydrothermal alteration? THD 31 THD 32
Slide 10: Table Hill – Future 2009 program
Table Hill – Future 2009 program For personal use only • Focus manganese exploration within MN1 corridor • Geochemical sampling to prioritise EM targets for drilling • Review base metal potential of the basin in light of results from MN5 and MN6 drilling • Geochemical sampling along selected structu
Slide 11: Wolfe Manganese Project – Drill target
Wolfe Manganese Project – Drill target For personal use only Ruby RubyPlains PlainsProspect Prospect A B Ruby Plains Prospect New Tenement applications A B Mn Drill Target 0 200 1km
Slide 12: Wolfe – Potential base metal targets
Wolfe – Potential base metal targets For personal use only VTEM Survey Channel 25 Image EM Targets Priority Mn Target area EM Target
Slide 13: Wolfe - Future 2009 Program
Wolfe - Future 2009 Program For personal use only • Site clearance and access preparation for drilling • RC drilling (2000m) down dip from surface manganese occurrences planned for September • RC drilling of selected EM targets to test for base metal mineralisation
Slide 14: Plenty River – Prospect Locations
Plenty River – Prospect Locations For personal use only
Slide 15: Caroline Prospect – Drill Target
Caroline Prospect – Drill Target For personal use only Section A-B A Proposed drill holes •Discrete (offset) gravity / magnetic anomalies beneath sediment cover B •Several km² in size •Potential base metal target – (Cu-Au) •Funding assistance from NT Govt
Slide 16: White Gums Prospect – Drill target
White Gums Prospect – Drill target For personal use only Magnetic Contours EM Image Strong EM response and coincident magnetic anomaly – Ni sulphide target
Slide 17: Plenty River – Future 2009 Program
Plenty River – Future 2009 Program For personal use only • Site Clearance and access preparations • Diamond drilling Gravity/magnetic target at Caroline (potential base metal target (Cu-Au)) scheduled for September • Diamond drilling EM targets at White Gums (potential Ni-S targets) scheduled for ea
Slide 18: Rocklea CID Resource (2008)
Rocklea CID Resource (2008) For personal use only * * * Resources as reported to the ASX on August 13, 2008.
Slide 19: Rocklea CID – Infill Drilling (2009)
Rocklea CID – Infill Drilling (2009) For personal use only Infill drilling in 2009 intersects thick channel iron mineralisation Revised resource estimate due August 2009 (2008) * Resources as reported to the ASX on August 13, 2008.
Slide 20: Future 2009 Programme Summary
Future 2009 Programme Summary For personal use only Project Activity Timing TABLE HILL (Mn) MN1 Corridor Geochem sampling Sept-Oct Other Targets Geochem sampling Sept-Oct WOLFE (Mn) RC Drilling (~2000m) Sept-Oct* PLENTY RIVER (Cu- Diamond Drilling Sept-Oct* Au, Ni) (~2000m) ROCKLEA (iron) Revised Re