Golden Cross Resources Ltd · ASX:GCR
Golden Cross Resources — Shareholder Meeting (November 2012)
39 slides from Golden Cross Resources's shareholder meeting presentation, Nov 15, 2012
Slide 1: Managing Director's Report to Annual General Meeting
Golden Cross Resources For personal use only ASX:GCR Managing Director’s Report to Annual General Meeting 15 November 2012
Slide 2: Disclaimer
Disclaimer Material in this presentation contains certain forecasts and forward-looking information, including information about possible or assumed future For personal use only performance, exploration results, resources or potential growth of Golden Cross Resources Ltd (GCR), industry growth or ot
Slide 3: Corporate Directory
Corporate Directory For personal use only Board of Directors Steve Gemell Chairman Kim Stanton-Cook Managing Director Li Xiaoming Non Executive Director Jingmin Qian Non Executive Director Suzanne Qiu Non Executive Director David Timms Non Executive Director Li Yan Alternate Director for Mr Li Compa
Slide 4: For personal use only
For personal use only 485Mt @ 15% P2O5 Ni-Au IOCG Copper- Gold Base Metals
Slide 5: Copper Hill, within the Molong Project
Copper Hill, within the Molong Project For personal use only • Total Geological Resource: 215 million tonnes at 0.3% copper and 0.24 g/t gold • Constrained Resource: 155 million tonnes at 0.33% copper and 0.27 g/t gold • Containing 493,000 tonnes of copper and 1.33 million ounces of gold • Copper an
Slide 6: Cargo
Cargo For personal use only • 280,000 ounces of gold in a near-surface Inferred Resource of 10 million tonnes at 0.84g/t gold using a 0.5g/t gold cut-off grade. • A six-hole core drilling program has just been completed at Cargo. More drilling and metallurgical test-work required. It is proposed to
Slide 7: Burra Copper Project
Burra Copper Project For personal use only • The Burra Copper Mine Project lies 40km east of Cobar with drill-indicated potential for deep- seated Cobar-style mineral systems. The Burra Mine and Block 51 mineralised zones have coincident magnetic anomalies and copper-in-soil geochemical anomalies. •
Slide 8: Gawler Craton IOCG Exploration - South Australia
Gawler Craton IOCG Exploration - South Australia For personal use only • Golden Cross holds tenements within the Gawler Craton in South Australia. The Gawler Craton is host to world-class iron-oxide- copper-gold (IOCG) deposits such as Olympic Dam, Prominent Hill and Carrapateena. • Drill-ready magn
Slide 9: Other Projects
Other Projects For personal use only • GCR is continuing its exploration efforts in a range of mineralised provinces across Australia searching primarily for copper and gold. • As well as other base metal projects, the company also holds Eromanga Basin coal tenement applications (2,250 km2) and • su
Slide 10: Molong Project - Copper Hill
Molong Project - Copper Hill For personal use only
Slide 11: Molong Project - Copper Hill
Molong Project - Copper Hill For personal use only • GCR’s flagship copper-gold project contains a resource of 493,200 tonnes of copper and 1.33 m illion ounces of gold w ithin an econom ically constrained optim ised open pit shell. • The 100%-owned Copper Hill project is near Molong in central New
Slide 12: For personal use only
Efforts in 2010 to maximise the returns from Copper Hill with 8Mtpa throughputs and a complex copper- gold-sulphur-iron recovery process could not clear the For personal use only +$700 million capital cost hurdle. A more achievable 2 million tonnes per annum (Mtpa) expandable mining and milling stra
Slide 13: Development Strategy
Development Strategy Work on the Copper Hill Definitive Feasibility Study (2Mtpa For personal use only Option) has been deferred following disappointing results from economic studies. Giving regard to total capital cost estimates in excess of $150 million (including the $92 million mill & plant cost
Slide 14: Exploration Potential away from Copper Hill
Exploration Potential away from Copper Hill M olong Project • Follow-up drilling at the Power For personal use only Airborne M agnetic Induced Polarisation (IP) - Field. Blue areas are m agnetically copper-gold soil anomaly east of low and reflect Copper Hill, and testing IP and intrusions, as at Co
Slide 15: For personal use only
Anomalous target For personal use only zones outside the Copper Hill resource include the area east of Buckley’s Hill (Copper Hill North) and the IP and copper-gold soil anomalies at Power – Hayshed – Vale Head.
Slide 16: Cargo Gold Project
Cargo Gold Project For personal use only GCR’s 100% owned Cargo project is its flagship gold project and lies 12 km west of the Cadia-Ridgeway gold - copper mining operation. Cargo is a large, concentrically zoned hydrothermal mineralised porphyry with radial, quartz-sulphide gold- bearing alteratio
Slide 17: Cargo Resources
Cargo Resources For personal use only • Inferred Resource estimates at Spur- Dalcoath of 10.4 million tonnes at 0.84g/t gold for 283,000 ounces of gold using a 0.5g/t gold cut-off grade. • At a higher cut-off grade of 0.8g/t gold, the Inferred Resource is estimated at 4 million tonnes at 1.19g/t gol
Slide 18: Cargo Current Drilling
Cargo Current Drilling For personal use only • 86m @ 1.56 g/t gold at the Spur-Dalcoath Lode System including 12m @ 2.73 g/t gold from 108m & 6.5m @ 9.40 g/t gold from 137.5m • Further holes* completed at Essex Lode System following up previous RC drilling intersections of 9 metres at 5.63g/t gold,
Slide 19: Drill holes
For personal use only Drill holes SD006, 7, 8,9 and 10
Slide 20: Cargo - Spur Section 4050N
4500mE 4600mE West East SPUR SPUR EAST 48m @ 1.13 gitAu (12) 28 SD006 500 mRL 450 mRL 400 mRL Cargo - Spur ee Section 4050N GCR 10-11-12
Slide 21: Cargo - Spur Section 4225N
4700mE East 4600mE West SPUR EAST sp010 105 2 17 68 I 1 ! | 1 1 50m @ 0.90 git Au i | I I | | I @ g ! I | I H I 16m @ 0.80 g/t Au | 500 mR 14m @ 0.54 git Au i 55m @ 1.27 git Au 450 mRL | | ! ! | | | ! ! ! | | | ! | | 400 mRL Cargo-Spur_ | tee) Section 4225N GCR 10-11-12
Slide 22: Cargo - Spur Section 4275N
4600mE West SPUR 12m @ 369 git Au 92 66 37 w & cS) ra) 5 a SPUR EAST East 23m @ 0.51 git Au $D009 9 3/6 61 i 30m @ 0.75 gitAu I | 10m @ 2.31 gitAu | I | | 1 1 500 mRL 21m @ 0.48 git Au 30m @ 1.39 git Au | | | 450 mRL 8 | 400 mRL | GCR 10-11-12 Yt 30m @ 1,89 g/tAu I Yi . Cargo - Spur__ a _°" Section
Slide 23: Cargo - Spur Section 4375N
4600mE 4700mE East SPUR SPUR EAST 2 West 550 mRL 22m @ 0.72 git Au 500 mRL 6m @ 0.72 git Au 450 mRL 400 mRL — Cargo -Spur_ f | oo "~~ Section 4375N GCR 10-11-12
Slide 24: Burra Copper Project
Burra Copper Project For personal use only The Burra Project has good potential for the discovery of Cobar-style deposits, with copper and lead-zinc mineralisation with gold/silver credits intersected in most drill holes. There are sufficient ore grade intercepts at the two key prospects to remain o
Slide 25: Burra Copper Project
Burra Copper Project For personal use only Burra Drill results: GCB 156 4m @ 1.25% Cu from 57m down- hole GCB 158 3m @ 2.84% Cu from 147m down- hole including 1m @ 6.45% Cu from 147m GCB 158 4m @ 1.32% Cu from 154m including 1m @ 3.36% Cu from 154m
Slide 26: For personal use only
For personal use only The Gilgunnia area hosts nearby deposits such as Hera, the newly discovered extensions to the Nymagee Copper Mine, new mineralised zones at Mineral Hill and the plans to re-open the Mount Boppy Gold mine have generated considerable interest in this region. GCR has a dominant la
Slide 27: South Australia – Gawler Craton IOCG Exploration
South Australia – Gawler Craton IOCG Exploration For personal use only Golden Cross holds five tenements covering 3,150 km2 within the northern Gawler Craton in South Australia. The tenements lie within several structural domains lying north of the highly prospective Olympic Domain, which hosts the
Slide 28: GCR's north Gawler Craton IOCG tenements
GCR’s north Gawler Craton For personal use only IOCG tenements Coober Pedy
Slide 29: Oolgelima Hill Project
Oolgelima Hill Project For personal use only
Slide 30: Drilling Planned for early 2013
Drilling Planned for early 2013 For personal use only • Six holes planned, total 2,500 metres • A discovery hole would be a company maker • Native title land clearances in progress • Woomera Prohibited Area access underway • Drilling company selection under review • GCR awarded PACE funding from SA
Slide 31: GCR's entry into coal exploration
GCR’s entry into coal exploration For personal use only Applications were made for EPC’s in the Clarence-Moreton, Bowen, Surat & Galilee Basins in 2008 and 2010 The former Labor Government imposed restrictions on coal exploration with: • Requirements for SSE’s • Exclusion zones around towns & villag
Slide 32: GCR elects to stay in coal
GCR elects to stay in coal Coal is a sensible, rational energy source for the planet For personal use only International demand for steaming coal is projected to grow Coal-fired power stations are the lowest cost, fastest to build and simplest means of providing electricity to developing countries A
Slide 33: Great Artesian & Eromanga Basin
Great Artesian & Eromanga Basin For personal use only
Slide 34: For personal use only
In December 2011, Golden Cross lodged three EPC applications over sections of the Eromanga Basin west of Charleville and For personal use only south of Blackall that were considered prospective for commercial coal deposits. • Baykool South (EPC 2896) • Baykool Central (EPC 2897) and • Baykool North
Slide 35: For personal use only
While some significant coal seams have been reported in the Hooray Sandstone and For personal use only Mackunda Formation, it is the Winton Formation that is of most economic significance, containing coal seams formed in a paralic to non-marine environment. The Winton Formation is the youngest Creta
Slide 36: Adavale – Cooper – Eromanga Basin Stratigraphic column
Winton Fm. For personal use only Adavale – Cooper – Eromanga Basin Stratigraphic column
Slide 37: Exploration Plan
Coal layers over For personal use only metres Exploration Plan: Commence drilling near coal-bearing water bores to verify seam thickness and quality then step out on 500 metre, then 1 and 2 kilometre, centres to establish a resource. Initial program: 25 x 100 metre PQ core holes.
Slide 38: Baykool Infrastructure
Baykool For personal use only Infrastructure Schematic showing rail, ports and coal-fired power station locations The planned, purpose-built rail and port infrastructure for the Alpha, Kevin’s Corner and other export coal projects in the adjacent Galilee Basin will help open up the eastern Eromanga
Slide 39: GCR in 2013
GCR in 2013 For personal use only • The next year will prove challenging for GCR as it will for all micro-cap mineral explorers • GCR will start 2013 with just over $2 million in cash and $1.8 million in investment shares • Our drill targets are high quality and any one hole could be a company maker
Golden Cross Resources — Shareholder Meeting (November 2012) on 6ix