Slide 1: Comoe Project, Burkina Faso
For personal use only Comoe Project Burkina Faso Adrienne Meakins AusQuest Limited Africa Down Under Perth, August 2012
Slide 2: Disclaimers
Disclaimers For personal use only Forward-Looking Statements This presentation contains forward looking statements concerning the projects owned by AusQuest Limited. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates
Slide 3: AusQuest Limited Corporate Structure
AusQuest Limited Corporate Structure: For personal use only · 228M Listed Securities · 7M Unlisted Options · Major shareholder, Cliffs (30%) · Cash backing 2.2c / share (June 2012) · Market capitalisation $6.8M (3c, Aug 2012) · Enterprise Value 0.8c / share (Aug 2012) Large scale multi-commodity pro
Slide 4: Comoe Project, Burkina Faso
Comoe Project, Burkina Faso For personal use only COMOE Inata Essakane Sabodala Yatela 3.5Moz 6.0Moz 3.5Moz 3.5Moz PROJECT Tarpako SENEGAL Sadiola MALI 1.5Moz NIGER 12Moz Perkoa Massawa ~1Mt Zn Niamey Morila 3.5Moz Loulo 8.5Moz Mana Samira Bamako BURKINA FASO 15.5Moz 3.5Moz 2.5Moz Ouagadougou Banfor
Slide 5: Comoe Project – Overview
Comoe Project – Overview Taurus Gold Noumousso • 1155km2 in under-explored Banfora Greenstone Belt Daramandougou For personal use only (resource in prep.) Finkere • 100%-owned or option-to-own 100% (1.5% NSR) BANFORA Tiefora Kapogouan • Permits encompass basal volcanic sequences as well as overlying
Slide 6: Recent RAB Results - Northern areas
Recent RAB Results- Northern areas Lagnin Nandrefa For personal use only 1m @ 4.63 g/t (EOH) & 4m @ 4.69 g/t numerous results >0.5g/t 8m @ 0.68 g/t Shears /altered granodiorite Altered granodiorite 2012 Program :- Diarabakoko East Taurus Gold Daramandougou Nandrefa Noumousso 4m @ 1.9 g/t (50m (resou
Slide 7: South East Permits – Multiple Gold targets
South East Permits – Multiple Gold targets Baboro • Komoe & Logoniegue Permits exhibit very For personal use only extensive +50ppb Au-in-soil anomalism • Anomalies prioritised for follow-up but many as yet untested Sommet • Magnetics, mapping and EM have also generated targets Sangigee Cisaillee Sin
Slide 8: Cisaillee Prospect (Au in shear zone)
Cisaillee Prospect (Au in shear zone) • Strong +50ppb Au-in-soil anomaly adjacent to For personal use only major Siniko Shear Zone • Recent broad-spaced RAB drilling returned excellent first-pass results: • 4m @ 8.7 g/t Au, • 24m @ 0.6 g/t Au (EOH) … etc • Gold associated with pyritic siliceous rock
Slide 9: Baboro Prospect (Au in altered mafics)
Baboro Prospect (Au in altered mafics) Very large, 2 x 1km Au-in-soil anomaly For personal use only • • Interpreted complex structural zone • Rock chip samples to 64 g/t Au • Only 9 RC holes to date, 5 returning encouraging early results incl. : • 2m @ 2.2 g/t Au • 4m @ 1.5 g/t Au • 16m @ 0.5 g/t Au
Slide 10: Sommet Prospect (Dilatant zone Au target)
Sommet Prospect (Dilatant zone Au target) • New prospect located in dilatant pressure shadow at apex of Komoe Granodiorite For personal use only • Prior soil sampling largely ineffective (thick alluvium and cover) • Mapping has identified intense magnetite alteration and high-strain zones • “Best fi
Slide 11: Phaco & Other VMS Prospects - Geological Context
Phaco & Other VMS Prospects - Geological Context • Phaco is located in the uppermost felsic units of a Baboro For personal use only mixed volcanic package • It has a very large (4 x 1km) pyrite alteration halo with intense alumina/silica alteration at prospect scale (1.2 x 0.5km) • Au, Ag (±Zn, Pb,
Slide 12: Phaco Hill - Geology & Mineralisation
Phaco - Geology & Mineralisation Ph North East Ph North For personal use only 2012 RAB result :- 11m @ 0.5 g/t Au Broader Au (±Ag) lodes Highly anom. Ag in soils Medium grade (~2-4 g/t Au) Ag, BM assays pending Open along strike & at depth Ph East Minimal drilling Early encouragement 8m @ 1.5 g/t Au
Slide 13: Phaco Hill – Selected Intersections
Phaco – Selected Intersections For personal use only 17m @ 2.4 Au, 24 Ag Phaco NE 19m @ 2.2 Au, 9 Ag 11m @ 0.5 Au 1m @ 4.5 Au, 719 Ag 12.1% Zn, 8.1% Pb 8m @ 1.5 Au 12m @ 3.8 Au 11m @ 3.1 Au 2m @ 41.8 Au 8m @ 7.8 Au 28m @ 1.9 Au 12m @ 4.9 Au 13m @ 4.4 Au 9m @ 3.9 Au 6m @ 4.6 Au LEGEND ALTERATION (met
Slide 14: Phaco – Potential Underground Grades
Phaco – Potential Underground Grades Phaco North Phaco South For personal use only Section 1102475N Section 1102100N Silver Gold
Slide 15: Long Section - Main Zone (Au only)
Phaco Long Section -“Main Zone” (Au only) Section 329550E For personal use only True width Gram.Metres (Ag values not included) Phaco Sth Ext. Phaco South Phaco North Open Open to to South North Drill hole Gram.Metre Intersections Gram.Metre pierce point Au grade(gm/t) x true thickness(m) Zones +60
Slide 16: Phaco - Untested geophysical targets
Phaco - Untested geophysical targets Magnetics Geology EM Ch 25 For personal use only Quartzofeldspathic Rhyolite schist Ph NE Limit of ground EM Ph N Dacite Ph E Ph S Ph SE Ph S Ext. Monzonite Granodiorite Au lodes Metasediments Intense alteration 200m LEGEND MAGNETICS: - NW-trending magnetic anoma
Slide 17: Phaco – Untested geochemical targets
Phaco – Untested geochemical targets For personal use only Au in soil Geology Ag in soil Quartzofeldspathic Rhyolite schist Strong Ag anomaly NE of Phaco, Ph NE RAB assays incomplete Ph N Multiple +50ppb Au Dacite anomalies yet to test Ph E Ph S Ph SE Ph S Ext. Monzonite Granodiorite 200m 10 ≥ 150pp
Slide 18: LaRonde Au-rich VMS Deposit (possible model for Phaco)
LaRonde Au-rich VMS Deposit (possible model for Phaco) For personal use only + 2.5 km LaRonde & open + 8Moz Au + 1 00Moz Ag (narrow strike, very large depth dimension)
Slide 19: Phaco Potential – "a tiger by the tail"?
lion Phaco Potential – “a tiger by the tail”? v For personal use only
Slide 20: Comoe Project – Two years on
Comoe Project – Two years on …… For personal use only • Increased targeted land position • Good community & Gov’t relationships • New high grade gold intersections on structural targets across most permits and …… • Greenfields Au-Ag VMS discovery with:- • Significant potential at depth • Significant