Carnaby Resources Ltd. · ASX:CNB
Carnaby Resources — Merger or Acquisition (March 2019)
27 slides from Carnaby Resources's merger presentation, March 2019
Slide 1: Berkut Minerals / Carnaby Resources
BERKUT Ss Carnaby
Slide 2: Disclaimer and JORC Statements
DISCLAIMER and JORC Statements Forward Looking Statements These materials include forward looking statements. Forward looking statements inherently involve subjective judgement and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control o
Slide 3: Corporate Snapshot and Pro-Forma Corporate Snapshot
CORPORATE SNAPSHOT (as of 11 March 2019) PRO-FORMA CORPORATE SNAPSHOT • ASX:BMT • ASX:CNB • Shares on Issue 54.3M • Shares on Issue 95.9M1 • Market Cap (@ 7.8 cents) A$4.2M • Market Cap (@ 7.8 cents) A$7.5M • Cash (31 Dec 2018) A$3.3M • Cash A$4.9M2 • Enterprise Value A$0.9M • Enterprise Value A$2.6
Slide 4: Carnaby Highlights
CARNABY HIGHLIGHTS POISED FOR RAPID GROWTH WITHIN THE AUSTRLIAN RESOURCES SECTOR • Proven and experienced management team with a track record for rapid growth • Highly prospective projects: • Tick Hill gold project - one of the richest and most profitable gold orebodies ever mined in Australia, cons
Slide 5: Location
LOCATION LOW RISK JURISTICTION Malmac Project (Gold, Copper, Lead, Zinc, Nickel) Tick Hill Project (Copper, Gold, Cobalt) 810km2 tenements 323km2 tenements Location: North Yilgarn Margin Location: Mt Isa Inlier Greenfields Brownfields Throssel Project (Gold) 162km2 tenements Location: Yilgarn Gold G
Slide 6: Tick Hill - Mt Isa Inlier
TICK HILL - MT ISA INLIER SURROUNDED BY TIER 1 DEPOSITS & INFRASTRUCTURE Tick Hill Gold Mine Gold & Copper 620 sqkm Mt Isa Inlier Brownfields Slide 6
Slide 7: Tick Hill Gold Deposit
TICK HILL GOLD DEPOSIT3 AN EXCEPTIONAL OREBODY • Discovered by MIM in 1989 and mined during 1991-95 • Generated A$150-200M profit to MIM during average gold price of ~US$350oz • Total produced 511,000 ounces grading 22.5 g/t Au • Free milling ore - historical reported recovery of 97.2% • Highly posi
Slide 8: Tick Hill Similarities to Bellevue
TICK HILL SIMILARITIES TO BELLEVUE Bellevue Analogy Tick Hill Bellevue5 • Produced 511,000 ozs gold @ 22.5 g/t3 • Produced 800,000 ozs gold @ 15 g/t • Orebody mined to 235 metres below surface • Orebody mined to 450 metres below surface • Orebody faulted off at depth by truncating fault • Orebody fa
Slide 9: Tick Hill Project Land Consolidation
TICK HILL PROJECT LAND CONSOLIDATION Duchess Cu- • Consolidation of 323km2 land package - highly Au Historical production prospective tenure centred around Tick Hill and 205kt @ 12.5% Cu Duchess deposits. Consists of: • 4km2 Tick Hill ML’s (to be 100% owned) Nil Desperandum • 293km2 exploration tenu
Slide 10: Tick Hill Extensions
TICK HILL EXTENSIONS OPEN PIT CUTBACK / UNDERGROUND • 70m deep open pit produced 180,000oz grading 18.1g/t Au3 • 165m of underground vertical advance below the open pit produced 331,000oz grading 26.0g/t Au3 Unmined remnant • Tick Hill was mined when gold price was hangingwall ~US$350 oz. Lower cut
Slide 11: Tick Hill Tailings Dam
TICK HILL TAILINGS DAM WHAT LIES BENEATH • Tailings dam resource of 630,000t grading 1.08g/t gold for 22,000oz4 630,000 t @ 1.08 g/t Au for 22,000oz • Including higher grade east paddock, 285,000t grading 1.42g/t gold for 13,000oz4 West Paddock • Single highest drill result of 43.4g/t cut East Paddo
Slide 12: Tick Hill Corridor
TICK HILL CORRIDOR AN EXCEPTIONAL TARGET • Historical mined to only 235m below surface @ 2,184 oz per vertical metre (ozpvm) producing 511,000oz gold • Average strike length of 80m • True width of 18m grading 22g/t Tick Hill South gold Target • Mineralisation faulted off at depth • Offset extension
Slide 13: Tick Hill Offset
TICK HILL OFFSET WHERE’S THE OFFSET? • Historical underground geology level plans show extensive fault breccia on the southern edge of the orebody suggesting the mineralisation has been Cross cutting ENE faulting faulted off on north edge of the • Cross cutting WNW and orebody ENE faulting appears t
Slide 14: Tick Hill Near Mine Targets
TICK HILL NEAR MINE TARGETS New research indicates late brittle conjugate Tick Hill Deeps EW structures (D3,D4) control and host gold Target mineralisation • Tick Hill South Target – Historically difficult access due to tailings dam and plant infrastructure. Wide spaced sterilisation? drilling under
Slide 15: Tick Hill Near Mine Targets
TICK HILL NEAR MINE TARGETS Tick Hill South demagnetised zone target • Tick Hill orebody is located on the northern edge of a large ~1km x 1km circular demagnetised zone • Historically the demagnetised zone area Tick Hill South has been poorly tested with drilling due Target to presence of plant inf
Slide 16: Why Tick Hill?
Mount Birnie Gold soil anomaly WHY TICK HILL? Undrilled Cu workings, 6 g/t Copper soil anomaly Au rock chip HIGHLY UNLIKELY TO BE A SINGLE SHOOT La Esquina Tick Hill host ore host type rocks, up to 0.8 g/t • One of the highest grade and most profitable Esta Dabajo Au, large Cu anomaly gold orebodies
Slide 17: Duchess Copper & Gold: Extensive Iron Oxide Cu-Au Camp
Spring Creek DUCHESS COPPER & GOLD Dronefield EXTENSIVE IRON OXIDE Cu-Au CAMP • Potential for numerous copper-gold open PILGRIM FAULT pittable gold resources; close proximity to infrastructure and processing facilities Duchess Mine Produced 205kt @ • Mt Erle extensive undrilled Au-Cu anomalism 12.5%
Slide 18: Duchess Target
DUCHESS TARGET POTENTIAL OPEN PITTABLE MINERAL RESOURCE • Duchess Deposit (1900-1940) - produced 205kt grading Duchess Mine 12.5% Cu7 Ivanhoe produced 12m @ 2.0% Cu 205kt @ 12.5% Cu • Includes Ivanhoe Lode with results up to 12m @ 2.0% Cu, 7m @ 3.0% Cu and 6m @ 3.4% Cu open along strike 7m @ 3.0% Cu
Slide 19: Duchess Copper Gold Camp
DUCHESS COPPER GOLD CAMP COPPER OXIDE HEAP LEACH POTENTIAL Prospect Oxide Copper Target Duchess Ivanhoe DUNQ0051, 12m @ 2.0% Cu from 26 m Oxide • Copper revival underway in the Mt Isa Lode DURC0003, 7m @ 3.0% Cu from 11 m Oxide district ~20 m of oxide, largely untested by drilling • Local producers
Slide 20: Western Australia Malmac & Throssel Project
WESTERN AUSTRALIA MALMAC & THROSSEL PROJECT NEW FRONTIERS ON THE YILGARN MARGIN Degrussa Plutonic • Highly Prospective Yilgarn 665kt Cu 7.5 Moz Au Malmac Project 0.8 Moz Au 810km2 margin mobile belt • ~2000 Ma aged Glenburgh orogeny mineral association Throssel Project 162km2 • ~2550 Ma aged Malmac
Slide 21: Summary
SUMMARY A COMPELLING OPPORTUNITY • Proven management team with a track record for rapid growth • First consolidated approach at Tick Hill in 15 years at one of the richest and least understood gold orebodies mined in Australia • Highly leveraged walk up targets within granted mining leases along the
Slide 22: Appendices
§ Carnaby APPENDICES
Slide 23: Proposed Executive Management
PROPOSED EXECUTIVE MANAGEMENT PETER BOWLER – NON-EXECUTIVE CHAIRMAN ROBERT WATKINS – MANAGING DIRECTOR Mr Bowler was the founding Managing Director of Mr Watkins is a member of the Australian Institute of Beadell Resources from 2007 to 2015. He was also Mining and Metallurgy. He has over 20 years th
Slide 24: Track Record of Rapid Growth: Agincourt
TRACK RECORD OF RAPID GROWTH EXPLORE & ACQUIRE Agincourt Slide 24
Slide 25: Track Record of Rapid Growth: Beadell
TRACK RECORD OF RAPID GROWTH EXPLORE & ACQUIRE Beadell A$ million 900 24 Aug 2012 17 Dec 2012 Market cap Spectacular First Gold 10 May 2011 29 Jul 2013 800 Drill Results Poured at Tucano DFS Duckhead Gold from Duckhead Tucano 6 Jul 2016 Completed Pit Approved High Grade 2 Feb 2017 24 Jun 2011 Result
Slide 26: Tick Hill Gold: Hunting for the Next Discovery
La Esquina TICK HILL GOLD HUNTING FOR THE NEXT DISCOVERY La Pista • Tick Hill has a discrete gold, copper and cobalt footprint and can be easily missed in wider spaced drilling • Focus on Tick Hill near mine corridor, Esta Dabajo targeting direct offset and potential structural repetition sites Mesa
Slide 27: § Carnaby
§ Carnaby
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