Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Shareholder Meeting (November 2011)
25 slides from Middle Island Resources's shareholder meeting presentation, Nov 30, 2011
Slide 1: Exploring Golden Frontiers - AGM Presentation
For personal use only Exploring Golden Frontiers Middle Island Resources AGM Presentation 30 November 2011
Slide 2: Disclaimer Notice and Competent Persons Statement
Disclaimer Notice and Competent Persons Statement For personal use only Disclaimer Notice The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Middle Island Resources Limited (“MDI”) nor doe
Slide 3: Capital Structure
Capital Structure ASX Code : MDI For personal use only Shares on Issue 99.9m Unlisted Options 16.2m Number of Shareholders 703 Top 20 Shareholders 60% Directors 26% Institutions ~18% Newmont ~10% Cash ~$7.9m Market Cap (at $0.37) ~$37m 3
Slide 4: Board & Management Team
Board & Management Team For personal use only Peter Thomas • Recently Retired Solicitor • Corporate and commercial mining industry advice since 1980 • Served on the (Non-Executive boards of various listed companies since the 1980s • Founding Chairman of Sandfire Resources NL • Currently Chairman) Ch
Slide 5: Corporate Strategy
Corporate Strategy For personal use only • Gold. • West Africa. • Exploration & development - best leverage & optimum value. • Build minimum 1.1Moz resource base within 2 years on at least 1 project. • Leverage off management’s 20 years local experience & contacts. • Jurisdictions with acceptable ri
Slide 6: Current Projects
Current Projects For personal use only • 100% of Reo Project – Project Burkina– Burkina Faso Faso • Earning 70% in Nassilé • Project Earning – 70% Niger in Nassilé Project – • Earning Niger 90% in Dogona Project – Niger • Earning 90% in • 100% Dogona in Project – Project Nuon River Niger (earning 75
Slide 7: Reo Project – Setting
Reo Project – Setting For personal use only • 7 permits covering 1,166 km 2 (plus on-going tenure consolidation). • 150km west of Ouagadougou; excellent access and infrastructure. • Area originally selected from Newmont cratonic study, straddling structurally complex junction of the Boromo & Houndé
Slide 8: Reo Project – Geochemistry
Reo Project – Geochemistry For personal use only MORLEY 8
Slide 9: Reo Project – Airborne Magnetics
Reo Project – Airborne Magnetics For personal use only 9
Slide 10: Reo Project – Morley Prospect
Reo Project – Morley Prospect For personal use only • 3.25km x 0.8km soil anomaly to 500ppb Au. • Comprises a series of broad (6-12m wide), stacked, east-west trending lodes that dip north. • Numerous significant trench & drill results from single (northern) zone tested to date:- - KDTR01 10.6m at 1
Slide 11: Reo Project – K4/K5 Prospect
Reo Project – K4/K5 Prospect For personal use only • Largest and highest tenor soil anomaly. • Veneered by transposed laterite. • Authorities removed 10,000 artisanal miners in June 2011. • Most significant early drill intersections:– - 18m at 2.51g/t Au (eoh) – (12m) - 13m at 2.23g/t Au (eoh) – (59
Slide 12: Reo Project – Geochemical Auger Drilling
Reo Project – Geochemical Auger Drilling For personal use only • Initial 40,000m geochemical auger drilling program. • Designed to identify and prioritise all prospects. • Based on airborne geophysical survey & subsequent targeting study. • Program has recommenced with 3 rigs. 12
Slide 13: Reo Project – Geochemical Auger Drilling
Reo Project – Geochemical Auger Drilling For personal use only • Completed 2,932 holes (22,598m) to date. • Morley & K4/K5 areas confirmed as significant targets. • Either or both have potential to meet minimum objective. • Further 18,000m of infill auger drilling approved. • Designed to refine targ
Slide 14: Niger Projects – Overview
Niger Projects – Overview For personal use only • Nassilé - earning initial 70% interest via staged expenditure of US$2 million over a 3 year term. • Dogona – earning initial 90% interest via staged expenditure of US$1 million over a 2 year term. • Collectively 1,400km2 of largely unexplored Birimia
Slide 15: Nassilé Project - Niger
Nassilé Project - Niger For personal use only • Limited previous work by Ashanti Goldfields & Island Arc/Cassidy. • RAB & RC drilling at Koutougou & Songonduari prospects:- - NRB202 12m at 2.09g/t Au - NRC011 12m at 3.08g/t Au (51m) - NRC013 6m at 1.98g/t Au (23m) - NRC019 3m at 4.90g/t Au (42m) 15m
Slide 16: Nassilé Project - Niger
Nassilé Project - Niger For personal use only • High resolution airborne magnetic survey completed. • Defines major northeast trending shear structure. • Structure ‘horse-tails’ into a series a splay structures towards the north. • Songonduari auger anomaly lies west of, but parallel to, main shear
Slide 17: Dogona Project – Niger
Dogona Project – Niger For personal use only • 822.7 km2 of unexplored Birimian greenstones. • Granted July 2011. • Numerous, substantial, untested artisanal mining sites. • New gold rush (7,000 people) to Dogona in January 2011. • Considerable opportunity for significant ‘greenfields’ discoveries.
Slide 18: Dogona Project – Niger
Dogona Project – Niger For personal use only • Airborne magnetic survey recently completed. • Structural interpretation & targeting studies in progress. • Mapping recently commenced. • Geochemical auger drilling program will be designed on combination of the above. 18
Slide 19: Nuon River Project - Liberia
Nuon River Project - Liberia For personal use only • Most technically prospective gold terrain in West Africa. • 100% interest in 5 permits & earning initial 75% interest in a sixth permit. • Aggregate semi-contiguous area of 3,005km2. • Located at the boundary between the Archaean & Birimian compon
Slide 20: Nuon River Project
Nuon River Project For personal use only • Significant alluvial and saprolite artisanal gold mining activity identified at the Barteh Jam, Nico & Middle East mining camps. • Numerous other significant mining camps known, but not yet visited. • Mambo Camp, within the 100% owned Cestos South permit, b
Slide 21: Nuon River Project – Barteh Jam Prospect
Nuon River Project – Barteh Jam Prospect For personal use only • Discovered in 1946, Barteh Jam represents the second largest artisanal gold camp in Liberia. • Big Hill saprolite prospect defined by +3.5km long, 80m wide, open ended zone of abundant artisanal shafts. • Broad, east-west trending zone
Slide 22: Nuon River Project – Barteh Jam Prospect
Nuon River Project – Barteh Jam Prospect For personal use only • Abundant visible free gold in quartz veins. • Consistently 200-300 gold grains in every pan. • Drill access and site preparation commencing next week. • RC drilling commences early January 2012. 22
Slide 23: Community Development
Community Development For personal use only • Policy to dedicate 5% of annual exploration budget to community development programs. • Essential to build social capital from the outset, regardless of project status. • First project completed & officially opened at Reo - potable water reticulation pro
Slide 24: Conclusions
Conclusions For personal use only • Early, well-priced entry into gold in West Africa. • Objective to fill Gryphon/Ampella space by December 2012. • Highly experienced West African team. • Newmont as a major shareholder. • Major international institutions & funds well represented on register. • Qual
Slide 25: Thank you & Questions
For personal use only Unit 2, 2 Richardson Street West Perth Western Australia, 6005 Thank you & Questions Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au
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