Legacy Minerals Holdings Limited · ASX:LGM
Legacy Minerals — Shareholder Meeting (November 2023)
40 slides from Legacy Minerals's shareholder meeting presentation, Nov 28, 2023
Slide 1: AGM Managing Director's Presentation
ASX ANNOUNCEMENT 28 November 2023 AGM Managing Director’s Presentation Legacy Minerals Ltd (ASX: LGM, “Legacy Minerals” or the “Company”) is pleased to advise that the presentation that will be made at today’s Annual General Meeting by Chief Executive Officer and Managing Director, Mr Christopher By
Slide 2: Company Presentation Annual General Meeting 2023
For personal use only Company Presentation Annual General Meeting - 2023 79 29 Au Cu NSW, Australia ASX: LGM
Slide 3: Disclaimer
Disclaimer This presentation may contain certain statements and projections provided by or on behalf of Legacy Minerals Holdings Limited (ASX: LGM, Legacy Minerals, or the Company) with respect to the anticipated future undertakings. These forward-looking statements reflect various assumptions by or
Slide 4: Project Locations
Project Locations Asset Overview Core Focus – Epithermal Systems For personal use only Black Range Au-Ag Bauloora Au-Ag Drake Au-Cu Pipeline Projects Fontenoy Ni-Cu-PGE-Au Cowra, Cobar, Rockley, Harden Map of central NSW showing Legacy Minerals tenements (red) and geographical location of major mini
Slide 5: Company overview
Company overview Issued Capital Market Capitalisation Shares Outstanding Options Cash (Mar-30) Cash (Jun-30) Cash (Sep-30) 32% 15M 83M 5.3M $1.4M $1.6M $1.3M For personal use only Debt Top 20 Management aligned with shareholder Joint Venture Funding Nil 52% interest – major shareholders $19.5M 68% L
Slide 6: Why New South Wales?
Why New South Wales? Home to Australia’s largest gold mine • Located in a World class jurisdiction with known Tier 1 Deposits • Cadia 50Moz Au1, Cowal 15Moz Au2 and Bowdens (400Moz Ag eq.)3 For personal use only Safe jurisdiction to invest • 2023 has seen major miners investing in NSW projects 2023
Slide 7: What sets us apart?
What sets us apart? Legacy Minerals Discovery Vision For personal use only Direct funding Newmont funding Earth AI funding • Six, 100% owned high-quality projects with no royalties • Aggressive exploration targeting world class deposits • Exposure to artificial intelligence • Multiple projects being
Slide 8: Where the JV model has worked - Greatland Gold
Where the JV model has worked - Greatland Gold (LSE:GGP) Newcrest Partnership at Havieron’s delivered exceptional growth through discovery Greatland Gold Share Price 3 Year Period1 For personal use only Greatland – Newcrest JV1 • $60M for 70% over 7 years • Greatland to fund its 30% 3.4Moz Au • As o
Slide 9: Bauloora Newmont Farm-in
79 47 Au Ag For personal use only Drilling for a major epithermal discovery Bauloora Newmont Farm-in ASX: LGM
Slide 10: Bauloora: Targeting a Tier Epithermal Deposit
Bauloora Targeting a Tier 1 Epithermal Deposit Bauloora Project Primary Vein Field Drilling Underway For personal use only • Immediate discovery exposure Newmont Joint Venture ($15M)1 • Discovery focused joint venture • LGM 20% loan carried to production District scale control – 330km2 license • Alt
Slide 11: Current Drilling 'Bulls Eye' Resistive Anomaly
Current Drilling ‘Bulls Eye’ 500mx500m Resistive Anomaly1 Ongoing diamond drilling funded by Newmont • A strongly resistive anomaly (~9,000 ohm*m) has been identified and is depth extensive (>1,000m) and comes to within 300m of the surface1 For personal use only ASX: LGM Note: references on this sli
Slide 12: Current Drilling Breccia Sinter intercepting Boiling Zone
Current Drilling Breccia Sinter intercepting Boiling Zone Ongoing diamond drilling funded by Newmont Initial Visual Observations1 • “Boiling zone” textures and fine sulphide-rich bands observed in moderately veined 32m wide interval (BX002). For personal use only • Further diamond drilling underway
Slide 13: Textbook Response for a Boiling Zone Target
Textbook Response for a Boiling Zone Target Geological Model for the Breccia Sinter and AMT Response1 For personal use only Figure 1. Showing the geological model used for targeting at Bauloora (after Buchanan, 1981) Figure 2. Showing the geological model used for targeting at Bauloora (after Buchan
Slide 14: Maiden Diamond Drilling – Mee Mar
Maiden Diamond Drilling – Mee Mar New discovery shoot • Wide spaced proof of concept drilling tested 1.5km of strike • For personal use only Bluecap - new epithermal shoot discovery (MM008) parallel to Mee Mar vein trend • 13m at 4.53g/t AuEq incl. 6m at 8.00g/t AuEq from 57m (13m at 1.66g/t Au, 6.6
Slide 15: Black Range
79 Au For personal use only Large low sulphidation epithermal with district control in NSW Black Range ASX: LGM
Slide 16: Black Range
Black Range 100% ownership of an underexplored epithermal system District scale control – 905km2 license Black Range Project Main Prospects • Large 7km2 silica-sericite-sulphide For personal use only alteration zone (Sugarbag Hill Prospect) associated with gold mineralisation1. • 30 years since last
Slide 17: Sugarbag Hill Prospect – Exploration Underway
Black Range Sugarbag Hill Prospect – Exploration Underway1 A For personal use only A Sinter related lithology at the Sugarbag Hill prospect (Looking South) Map of sinter related lithology and historic drilling at Sugarbag Hill prospect Plan view of the Sugarbag Hill prospect showing mapped geology A
Slide 18: Sinter Discovered at Black Range
Sinter Discovered at Black Range1 Second Sinter system Recognised by LGM in 1 Year (Bauloora) For personal use only Rock Samples 7371 (7.89ppm Mo and 12.9ppm Sb) and 7377 (1.76ppm Mo and 1.28ppm Sb) are fine-grained siliceous rock interpreted to have formed as a hot spring precipitates, e.g. as sili
Slide 19: Significant Gold Soil Anomaly
Significant Gold Soil Anomaly1 Undrilled coincident pathfinder element targets • The latest soil sampling results at Sugarbag Hill have mapped: For personal use only • A 3.5km x 1.2km zone of elevated low- sulphidation epithermal Au-Ag pathfinder elements • 2.2km long gold trend >20ppb Au (up to 296
Slide 20: Undrilled IP Targets Beneath Sinter
Undrilled IP Targets Beneath Sinter1 IP targets never tested For personal use only ASX: LGM Note: references on this slide can be located in the Appendix – Endnotes on Slides 38 and 39 19
Slide 21: Cowra: Drill Ready Porphyry Cu-Au
79 29 Au Cu For personal use only Drill Ready Porphyry Cu-Au Cowra Target 55km from the giant Cadia-Ridgeway Mine Porphyry Target ASX: LGM
Slide 22: Tier-1 Cadia Type target
Tier-1 Cadia Type target1 Summary of Opportunity • Porphyry related Au-Cu bearing magnetite veins and skarns known to be associated with the nearby Cadia-valley deposits. Deposits hosted in equivalent Ordovician volcanics of the Macquarie Arc. Big Cadia Skarn characterised by hematite-magnetite zone
Slide 23: Implications for Discovery
Implications for Disvoery1 Reconnaissance drilling conducted in 1992 • Altered monzonite noted in EOH shallow RC chips (CRB7, CRB57) • Strong chor-ser-qtz-zeol alteration in CRB-7, CRB-10 and CRB-57 For personal use only Shallow drilling <100m depth • Reconnaissance drilling above target only tested
Slide 24: Drake
79 29 Au Cu For personal use only ‘Legacy’ project with new copper-gold vision Drake ASX: LGM
Slide 25: Drake Exploration License
Drake Exploration License Significant Discovery Opportunity Transaction opportunity $200k unencumbered sale from White Rock Resources (WRM) For personal use only • $20-30M in project expenditure by previous companies • Completely surrounds the Mt Carrington MLs – 320kOz Au and 23Moz Ag of resources
Slide 26: Earth AI Exploration Alliance
For personal use only At the head of the pack with artificial intelligence exploration Earth AI Exploration Alliance ASX: LGM
Slide 27: Artificial Intelligence Drilling Underway
Artificial Intelligence Drilling Underway Targeting Ni-Cu-PGE Widespread Cu-Au and Ni-Cu-PGE anomalism with limited drilling Earth AI testing1 Strategic Alliance putting LGM at the exploration forefront2 For personal use only • Exposure for LGM shareholders to the proprietary artificial intelligence
Slide 28: Rockley
For personal use only Prime position in Australia’s premier Cu-Au porphyry district Rockley 79 29 Au Cu ASX: LGM
Slide 29: Rockley Porphyry Project
Rockley Porphyry Project An emerging porphyry district • Classic porphyry magnetic signature - central magnetic high surrounded by a doughnut shaped magnetic low, on NW-SE fault, For personal use only coincident with a discrete potassic high and widespread Au-Cu anomalism at surface • Prospective Ph
Slide 30: Untested Potential
Untested Potential Overlooked and untested For personal use only • District proven to host significant porphyry mineralisation • Limited geochemistry sampling and geophysical surveys across the tenement • Scarcity of drilling across the tenement1 • Only 22 RAB historical holes in south of the porphy
Slide 31: Cobar
79 29 Au Cu For personal use only Positioned in the Heart of the Cobar Basin Cobar ASX: LGM
Slide 32: Prime Position in the Cobar Region
Prime Position in the Cobar Region • World class jurisdiction seeing continued exploration success For personal use only • Underpins the value growth of the company • Proximity to infrastructure and skilled mining workforce Regionally significant gold-lag anomaly • Gold in lag up to 1.5g/t Au & 0.43
Slide 33: Recognised Copper Potential
Recognised Copper Potential Home to Australia’s highest-grade copper mine Undrilled targets • Only 4 RC holes across northern tenement For personal use only • Undrilled geophysical anomalies – including IP, and magnetic targets • Several Late Time AEM conductors - potential bedrock anomalies1 Contin
Slide 34: Harden
For personal use only High-Grade, historical gold mining district Harden 79 Au ASX: LGM
Slide 35: Harden
Harden District Scale Control Significant Historical Production • District has produced ~460,000 oz of gold1 with the two largest historical hard For personal use only rock mines held within LGM’s tenements • These two mines produced ~75,000 oz Au at 28.6g/t Au1 High-grade drill intercepts1, 2 • 5m
Slide 36: Strategic Direction 2024 – Use of Funds
Strategic Direction 2024 – Use of Funds Core Focus – Epithermal Systems Black Range Au-Ag Self-funded drilling and generative work For personal use only Bauloora Au-Ag Drilling funded by Newmont, finance option to production (LGM 20% carried) Drake Au-Cu (Transaction to be finalised) self-funded gen
Slide 37: Value through Discovery and Strategic Partnerships
Value through Discovery and Strategic Partnerships Exploration Discovery Development Cowra and Drake Fontenoy Project Stage For personal use only Project Stage • Drill target generation • Drill testing and target generation Black Range and Bauloora Key Activities Project Stage Key Activities • Data
Slide 38: The Year Ahead
The Year Ahead CONTACT For personal use only ASX:LGM Ongoing drillling across multiple projects Chris Byrne Long term focus on gold CEO and Managing Director and copper assets chris.byrne@legacyminerals.com.au +61 (0) 499 527 547 Active exploration Vision to realise growth ASX: LGM
Slide 39: Appendices – Endnotes
Appendices – Endnotes Slide 3, Slide 9, Slide 16 1 Alkane Resources Kaiser Resource Estimate of ~4.7M Gold Equivalent 27 February 2023; 2 Silver Mines, Ord Minnett East coast Mining Conference, March 2023; 3 Alkane Resource and Reserve Statement FY22, 9 September 2022; 4 Newcrest Mining Annual Miner
Slide 40: Appendices – Endnotes (continued)
Appendices – Endnotes (continued) Slide 7 1: Greatland Gold, greatlandgold.com/wp-content/uploads/2023/08/2023.08.07-Greatland-Diggers-Dealers-Presentation.pdf, greatlandgold.com/wp- content/uploads/2022/09/22092022-GGP-Corporate-Update-Sep-2022-vfinal.pdf 2: ASX LGM: 5 April 2023 Newmont Farm-in at
Legacy Minerals Holdings — Shareholder Meeting (November 2023) on 6ix