Cullen Resources Limited · ASX:CUL
Cullen Resources — Investor Presentation (November 2015)
24 slides from Cullen Resources's investor presentation, Nov 17, 2015
Slide 1: Well Positioned for Re-Rating
For personal use only WELL POSITIONED FOR RE‐RATING INVESTOR PRESENTATION ‐ NOVEMBER 2015 Chris Ringrose – Managing Director Cullen Resources Limited
Slide 2: Disclaimer
DISCLAIMER For personal use only IMPORTANT NOTICE This presentation has been prepared by Cullen Resources Limited ACN 006 045 790 (Cullen) for general information purposes only. The presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities
Slide 3: Objectives Going Forward 2016
OBJECTIVES GOING FORWARD 2016 For personal use only 1. MAINTAIN 30% EQUITY POSITION ‐ Mt STUART IRON ORE JV (MSIOJV) 2. DRILL GOLD TARGETS – Mt EUREKA 3. DRILL NICKEL SULPHIDE TARGETS – Mt EUREKA 4. DIVEST COPPER (Cue) and TUNGSTEN (NSW) PROJECTS 5. PROGRESS TARGETING FOR Ni, Au and Li. NEW, EARLY S
Slide 4: Cullen's Project Portfolio – Key Elements
CULLEN’S PROJECT PORTFOLIO – 4 KEY ELEMENTS For personal use only IRON ORE 1 RESERVE DRILL TARGETS ‐ 4 2 NICKEL SULPHIDES AND GOLD TARGET 3 GENERATION Cullen Resources Limited
Slide 5: Cullen's Project Portfolio: Fe Reserve and Drill-Ready Targets
CULLEN’S PROJECT PORTFOLIO : Fe RESERVE AND DRILL‐READY TARGETS For personal use only NEW RESERVE (ASX, (ASX 16 SSeptt 2015) 1 83Mt @ 55.1% Fe ‐ FS in progress Mt STUART IRON ORE JOINT VENTURE TWO NEW BEDROCK 2 CONDUCTORS AT AK47 Ni PROSPECT;; RC PROPOSED AT GALWAY GOLD PROSPECT 4 OTHER DRILL READY
Slide 6: Proposed West Pilbara Iron Ore Project (WPIOP – Stage 1)
PROPOSED WEST PILBARA IRON ORE PROJECT (WPIOP – Stage 1) For personal use only Cullen has a key stake (30% contributing interest) in the Mt Stuart Iron Ore JV (MSIOJV) as part of the proposed WPIOP – Stage g 1 (40Mtpa) ( p ) Entry of Baosteel with Aurizon has added momentum to development scenario f
Slide 7: Catho Well CID Ore – Al2O3 and P Levels Attractive for Blending
CATHO WELL CID ORE – Al2O3 and P LEVELS ATTRACTIVE FOR BLENDING For personal use only MSIOJV owns Catho Well CID now API ‐ shareholders via APIJV are: 83Mt @ 55.1% Fe (ASX : 16 Sept 2015) Baosteel ‐ major Chinese steel producer Aurizon ‐ major Australian infrastructure Cullen C ll ‐ 30% owner off CC
Slide 8: NE Yilgarn: Frontier Greenstone Belts for Gold and Nickel
NE YILGARN : FRONTIER GREENSTONE BELTS FOR GOLD AND NICKEL DRM For personal use only NST CULLEN’S Mt EUREKA PROJECT AMONGST BELT OF ACTIVE RXL EXPLORATION AND DISCOVERIES – RRL JUNDEE (Au) – ASX:NST GOR GRUYERE (Au) – ASX:GOR ROSIE (Ni) – ASX:DKM CAMELWOOD (Ni) – ASX:RXL JULIUS (Au) – ASX;EAR HORSE
Slide 9: Mt Eureka – Drill Ready Prospects for Gold and Nickel
Mt EUREKA – DRILL READY PROSPECTS FOR GOLD AND NICKEL For personal use only NICKEL “AK47” pprospect p and ~40 strike km of ultramafics adjoining and north of Camelwood nickel sulphide discovery (Rox Resources) GOLD Southern to Grafs Find prospects ‐ structural complexity, interpreted intrusives, geo
Slide 10: AK47 Target Area - Nickel
AK47 TARGET AREA ‐ NICKEL For personal use only PREVIOUS DISCOVERY AT AK47 PROSPECT – 0.2M 0 2M @ 1 1.93 93 % Ni Ni, 0.42% 0 42% Cu Cu, 0.7 g/t Pt+Pd (Hole GBD2) MASSIVE SULPHIDE ? REMOBILISED FROM NEARBY SOURCE KOMATIITE Cullen Resources Limited
Slide 11: AK47 New Ground EM Survey Completed
AK47 NEW GROUND EM SURVEY COMPLETED For personal use only GBD 2‐7 ground EM survey completed, mid‐2015 – 2 x 1km VTEM Conductor AK47 Possible off-line MLTEM Conductor Recent Ground EM survey 2003 MLTEM lines (WMC) Cullen Resources Limited
Slide 12: Nickel: AK47 Prospect – Schematic X Section
NICKEL: AK47 PROSPECT ‐ SCHEMATIC X SECTION Re‐mobilised Re mobilised “pinch pinch out” massive sulphides For personal use only (Cu, PGE rich) GBD4 0.2m @ 1.79% Ni, 0.19% Cu, 0.66g/t Pt+Pd GBD5 0.05m @ 0.94% Ni 0 05% Cu, 0.05% Cu 3.42 3 42 g/t Pt+Pd PRIME TARGET: Channel facies “ore prism” ? Along s
Slide 13: AK47 and AK47 East – Two Nickel Sulphide Target Trends
AK47 and “AK47EAST” ‐ TWO NICKEL SULPHIDE TARGET TRENDS For personal use only Anomalous LAG LAG SAMPLE SAMPLE Pt 57ppb, Pd 12 ppb Recentt ground R d EM – 2 x 1km – two new bedrock Ni > 1% over 0.1‐0.2m conductors in holes GBD 2,3 and 4 for drilling testing Area of historic drilling - GBD 2‐7 (GBD2-7
Slide 14: Nickel: AK47 Area Proposed RC Drilling
NICKEL: AK47 AREA PROPOSED RC DRILLING LINE 7057410mN LINE 7058300mN For personal use only MODEL 1 – strike t ik extent t t 60 60m, MODEL 2 – strike t ik extent t t 60 60m, depth extent ~200‐250m, depth extent ~280‐330m, dip 30‐60° east ‐ dip 30‐60°east ‐ AK47 trend On “AK47 EAST” trend AK47 EAST TW
Slide 15: Mt Eureka Gold: Southern – Grafs Find Target Area
Mt EUREKA GOLD : SOUTHERN – GRAFS FIND TARGET AREA 7m @ 9.0g/t 9 0g/t Au, Au & Camp scale l gold ld target / structurall 9m @ 6.2g/t Au For personal use only complexity / on‐strike anomalies/cover 7m @ 6.7g/t Au Limited drilling through transported cover Fi t priority First i it targets t t – NE she
Slide 16: Targeting Regional-Scale Structural/Lithological Anomaly in Belt
TARGETING REGIONAL‐SCALE STRUCTURAL/LITHOLOGICAL ANOMALY IN BELT For personal use only • FOUR LINES OF AIR CORE COMPLETED IN OCTOBER 2015 – PRIORITISED GALWAY FOR RC DRILLLING • FURTHER AIR CORE DRILL TRAVERSES PLANNED Cullen Resources Limited
Slide 17: Galway Gold Prospect – RC Drilling Proposed
GALWAY GOLD PROSPECT – RC DRILLING PROPOSED For personal use only Cullen Resources Limited
Slide 18: Targets Surrounding Galway Gold Prospect – Air Core Drilling Proposed
TARGETS SURROUNDING GALWAY GOLD PROSPECT – AIR CORE DRILLING PROPOSED For personal use only Cullen Resources Limited
Slide 19: Mt Eureka Bedrock Geology
Mt EUREKA BEDROCK GEOLOGY INTERPRETED SOLID For personal use only GEOLOGY OF GOLD TARGET AREA : SOUTHERN TO GRAF’S FIND DISPLAYS KEY “INGREDIENTS” FOR SIGNIFICANT GOLD MINERALISATION : • STRUCTURAL COMPLEXITY • LITHOLOGICAL VARIATION • GOLD MINERALISATION FROM SHALLOW DRILLING AND PROSPECTING Cullen
Slide 20: Target Trends of Gold Anomalies for Further Drilling
TARGET TRENDS OF GOLD ANOMALIES FOR FURTHER DRILLING For personal use only Southern Galway Previous RAB/air core drill traverses Grafs Find RAB anomaly Target Trend Grafs Find (East) RAB anomaly Target Trend Cullen Resources Limited
Slide 21: Mt Eureka Gold: Southern – Grafs Find Target Area
Mt EUREKA GOLD : SOUTHERN – GRAFS FIND TARGET AREA For personal use only Gold prospect Nugget patches Air core anomaly trends (max Au >0.1g/t in hole) Gold target area Major north-south shears (airmag interp) Major north-east shears Linking? thrust/shear Cullen Resources Limited
Slide 22: Exploration Target Area for Lithium
EXPLORATION TARGET AREA FOR LITHIUM For personal use only CULLEN HAS EXPLORATION LICENCE APPLICATION Cullen target ELA 45/4626 area for Li in pegmatites – CENTRAL PILBARA – new ELA APPROXIMATELY 30 km NE OF PILGANGOORA LITHIUM DEPOSIT 30km ALONG BELT OF PILGANGOORA PEGMATITE OCCURRENCES (GREEN DOTS)
Slide 23: Summary and Cullen Corporate
SUMMARY AND CULLEN CORPORATE ASX:CUL For personal use only ADVANCING EXPLORATION FOR DIRECTORS NICKEL AND GOLD AT 100% OWNED Dr Denis Clarke ‐ Chairman Mt EUREKA PROJECT – FRONTIER Dr Chris Ringrose ‐ MD GREENSTONE BELT , NE YILGARN Mr Grahame Hamilton ‐ Non Exec Mr John Horsburgh ‐ Non Exec CULLEN
Slide 24: Thank you
For personal use only Thank h k you Chris Ringrose 0439 843 756 cullen@cullenresources.com.au www.cullenresources.com.au ATTRIBUTION – COMPETENT PERSON STATEMENT Information in this presentation may reflect past exploration results, results and Cullen Cullen’ss assessment of exploration completed by
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