AngloGold Ashanti...13 AngloGold Ashanti: Geology Context 25km ¹ 2016 AGAM mineral leases 2017 AGAM...
Transcript of AngloGold Ashanti...13 AngloGold Ashanti: Geology Context 25km ¹ 2016 AGAM mineral leases 2017 AGAM...
AngloGold Ashanti
EXLAURENTIAN VISION PARTNERSHIP
January 23, 2019
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AngloGold Ashanti
1. Company
2. Minnesota Programo Geology Context
o Drilling
o Progress
o Sustainability issues
3. Other Issues
AngloGold Ashanti
Operations
Exploration Projects
Global portfolio
Third largest gold producer
Corporate headquarters in Johannesburg, SA
Quebradona
mining.com
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AngloGold Ashanti North America/Minnesota
Nevada
Minnesota
Denver
AngloGold Ashanti Minnesota (AGAM) is a subsidiary
of AngloGold Ashanti North America Inc.
North America corporate office based in Denver, CO
AGA have been present in North America for 25+ years
Formerly owned Cripple Creek & Victor, and Jerritt
Canyon
Rebuilding exploration portfolio with a focus on stable
and mature jurisdictions
Why Minnesota?
• Structurally complex terrane w/ similarities to
eastern-Wawa & Abitibi architecture
• No competitor activity
• Opportunity to acquire a large land position –
100% AGAM
• Underexplored search space, extensive glacial
overburden
• Excellent state-acquired or generated open-file
datasets
• Evidence for mineralizing systems in existing open
file datasets
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AngloGold Ashanti: Sustainability
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AngloGold Ashanti: Sustainability
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AngloGold Ashanti: Sustainability
AGA Sustainability Focus – Material Issues
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AngloGold Ashanti: Sustainability
AGA Sustainability Focus – Material Issues
AngloGold Ashanti: Sustainability
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AngloGold Ashanti: Geology Context
Abitibi District >160Moz
Hemlo District >25Moz
Red Lake District >37Moz
Pickel Lake District >3Moz
Beardmore-Geraldton
District >4Moz
Cameron Lake/
Rainy River >10Moz
Hammond Reef >7Moz
Moss Lake >3Moz
• >200Moz Au discovered within
the Wawa-Abitibi
• (MN) Western-Wawa
Subprovince comprised of
Archean supracrustals
• MN geology (stratigraphy) is
analogous to eastern-Wawa &
Abitibi Subprovince
• Favorable tectonic setting
• Extensive glacial overburden =
underexplored search space
(opportunity)
• Limited historic exploration
activity (opportunity)
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AngloGold Ashanti: Geology Context
Quetico
Subprovince
Wabigoon
Subprovince
50km ¹
Wawa SubprovinceDuluth Intrusive
Complex
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AngloGold Ashanti: Geology Context
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AngloGold Ashanti: Geology Context
25km
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2016 AGAM mineral leases
2017 AGAM mineral leases
2015 nomination of 1 township in Koochiching County
2016 successful bid of 33 mineral leases (11,600acres)
2016 nomination of 12 townships in Koochiching/St Louis/Itasca County’s
2017 successful bid on 237 mineral leases (94,500acres)
Considerations – private surface ownership, environmentally sensitive areas, population centers,
multiple use lands
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Schematic block model for glaciated terrains
Schematic dispersal train for gold-in-till
AngloGold Ashanti: Geology Context
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Schematic block model for glaciated terrains
Schematic dispersal train for gold-in-till
AngloGold Ashanti: Geology Context
Logic behind Selection of Drilling Site(s)1. The investigative steps to optimize the exploration context prior to drilling site
selection include:
• Regional Data Integration:
• Identify Localized Areas of Interest (within lease land)
1. Once target areas are selected, AGAM considered the need of ‘seeing’ through the
glacial cover to the basal till and underlying geology. Based on this challenge,
AGAM has selected the method of rotosonic drilling for sample acquisition.
2. With a geological context established and a sample methodology selected, the
logic of final drill site selection is guided by several objectives:
Project Planning and Management
In order to explore efficiently across a large geologic terrane that has significant glacial
cover, AGAM has focused on disciplined project planning and management. The
elements of this program are:
1. Focused geological compilation, analysis, and interpretation. By maximizing the
pre-drilling compilation and analysis, it provides the optimized drill siting. Also, it
provides the context to interpret the results and makes changes to the model.
2. Drill site priorities and value.
3. Selection of rotosonic to rapidly test basal till and bedrock conditions.
4. Flexibility to change geological models based on drill data.
5. Focus on winter drill season to reduce access issues in wetlands etc.
6. Rapid logging to provide feedback to the on-going drill program and to improve
drill hole siting in next phases.
Based on the geological and glacial sediment logging and selective assay analysis of the
rotosonic core, AGAM will review the next exploration steps.
Drilling Incentive Grant (DIG)
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AngloGold Ashanti: Drilling
¹Winter 2017 - 27 roto-sonic holes completed (of 33 permitted)
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AngloGold Ashanti: Drilling
¹Winter 2018 - 68 roto-sonic holes completed (of 86 of permitted)
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AngloGold Ashanti: Drilling
¹Winter 2018 - 2019 - 59 roto-sonic holes completed (of 133 of permitted)
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AngloGold Ashanti: Drilling
¹Winter 2017 - 27 roto-sonic holes completed (of 33 permitted)
Winter 2018 - 68 roto-sonic holes completed (of 86 of permitted)
Winter 2018 - 2019 - 59 roto-sonic holes completed (of 133 of permitted)
Total Drilling: ~14,550 ft
Continued campaign to advance targets
Drill rig set-up
Typical configuration of drill rigs and support vehicles
Typical configuration of drill rigs with core
Access through ice for water
Super sack used to collect
sloughing sediments from
drill rods for easy removal
later
Typical access track
Typical access track and
snow mobile trailTypical access track
Typical access track
Bore hole
Bore holes: supplemental cement
addition planned to compensate for
settling.
Minor clean scheduled.
Typical bore holes after rig moved
off: Super sack removal and minor
clean-up scheduled.
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Project generation terrane selection during 2015
2016 2018Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Reconnaissance target generative work
Township lease nominationlate-2015
Airborne magneticsurvey
33 mineral leases awarded‘Celina Project’
winter roto-sonic drilling (Celina)
2017 lease bid auction
2017
Township lease nomination for 2017
237 mineral leases awarded
Open file review & DNR Core library
Regional targeting
AngloGold Ashanti: Progress
winter roto-sonic drilling (Aegir, Ran, Freyja)
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2018 2020Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Fall roto-sonic drilling (1-2 targets)
winter roto-sonic drilling(4 target areas/infill)
2019
Township lease nomination for 2018?
mineral leases awarded?
Regional reconmapping/sampling
AngloGold Ashanti: Progress
winter roto-sonic drilling (Aegir, Ran, Freyja)
Regional reconmapping/sampling
Fall roto-sonic drilling (1-2 targets)
winter roto-sonic drilling
Negotiated lease application
Negotiated lease application?
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AGAM have invested ~US$3M (late-2016 to mid-2018)
Strong focus on money going into the ground, use of local
businesses, development and training of local employees
In-ground spend includes
• direct drilling related costs
• environmental and reclamation work
• airborne geophysical surveys etc.
*excludes salaries of AGA employees
AngloGold Ashanti: Progress
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AngloGold Ashanti: Sustainability
Lease process and milestones
Permitting
Engagement
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Lease Process
1.Nominate parcels/Bid Unit Book
2.Bid/Award
3.Prospectus on AGA
4.SEC approval
AngloGold Ashanti: Lease
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LAND
CLASS
SURFACE
OFFEREDKOOCHICHING TOTAL TOTAL
Tax Lands Yes 2,938 2,938
4,046Tax Lands No 1,109 1,109
School Yes 6,628 6,628
7,188School No 560 560
NReg No 114 114 114
Tax Lands/
NREG Min/
SchoolVariable 280 280 280
11,629 11,629
AngloGold Ashanti: Lease
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AngloGold Ashanti: Project Permitting
2016-2017
PHASE I: ‘CELINA’ in Koochiching County
• Mineral exploration (2 applications/approval; lease-wide)
• Roto-sonic drilling (1 application/approval; 31 boring locations)
2017-2018
PHASE II: ‘RAN’ ‘AEGIR’ ‘FREYJA’ in Itasca County and St. Louis County
• Mineral exploration (2 applications/approvals; lease-wide)
• Roto-sonic drilling (3 applications/approvals; 85 boring locations)
2018-2019 (approved)
PHASE IIa: ‘KNARR’ and ‘RAN’ in Itasca County
• Roto-sonic drilling (1 application; 27 boring locations)
2018-2019 (approved)
PHASE III: ‘MAGNI’ ‘KNARRWEST’ and ‘RAN III’ ‘AEGIR II’ in Itasca County and St.
Louis County
• Roto-sonic drilling (4 applications; 106 boring locations)
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AngloGold Ashanti: Project Permitting
¹Winter 2017 - 27 roto-sonic holes completed (of 33 permitted)
Winter 2018 - 68 roto-sonic holes completed (of 86 of permitted)
Winter 2018 - 2019 - 59 roto-sonic holes completed (of 133 of permitted)
Total Drilling: ~14,550 ft
Continued campaign to advance targets
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AngloGold Ashanti: Project Permitting
PHASE I, II, & II – Koochiching, Itasca, and St. Louis Counties
Type Agency Scope Status & Requirements
Phase I & II Exploration Plans DNR Permissions to conduct surface and shallow exploration
activities on AGAM leases in Koochiching, Itasca, and St.
Louis Counties.
2016-2018 Submitted to and
approved by DNR. Last one expires
in December 2018.
Phase I Exploration Plan (1
application)
DNR Permission to conduct rotosonic drilling activities (at 31
boring locations) on AGAM leases in Koochiching County.
2016-2017 Submitted to and
approved by DNR. Expired April
2017.
Phase II Exploration Plans (3
applications)
DNR Permission to conduct rotosonic drilling activities (at 85
boring locations) on AGAM leases in Itasca and St. Louis
Counties County.
2017-2018 Submitted to and
approved by DNR. Expired April
2018.
Phase III Exploration Plans (5
applications)
DNR Permission to conduct rotosonic drilling activities (at 133
boring locations) on AGAM leases in Itasca, Koochiching,
and St. Louis Counties County.
2018-2019 Submitted to and
approved by DNR. Expires in 2019.
Drilling Notice of Intent MDH Notice of Intent to drill a bore hole. 2016-2019 Submitted to MDH.
Bore hole plugging form MDH Submission to MDH the required bore hole plugging
documentation.
2017-2019 Submitted to MDH.
Trail use Permit Koochiching
County
Permission to access to county tax-forfeit lands for
exploratory bore holes to selected AGAM leases in
Koochiching County.
2016-2017. Submitted to and
approved by Koochiching County
Application for
Access Permit
Koochiching
County
Permission to cross county road right-of-ways to access
exploratory drill sites to selected AGAM leases in
Koochiching County.
2016-2017. Submitted to and
approved by Koochiching County
Special Use/Trail
use Permits
Itasca County Permission to access to county tax-forfeit lands for
exploratory bore holes to selected AGAM leases in Itasca
County.
2016-2019. Submitted to and
approved by Itasca County
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AngloGold Ashanti: Project Permitting
PHASE I, II, & III – Koochiching, Itasca, and St. Louis Counties
Resource AGAM
Stakeholder (s)Strategy Time
Special FeaturesDNR
Avoid disturbance or impacts through review of available surveys
and delineations and adjustment of exploratory activities
2016 to
present
Bats and other receptorsDNR
Habitat awareness and seasonal work strategy to avoid impacts to
breeding and hibernations.
2016 to
present
Cultural resources
DNR; Bois Forte
Discussion with Bois Forte tribe and DNR to understand issues.
Awareness and reporting of any suspected cultural or archaeology
sites to DNR and tribe.
2016 to
present
Invasive Weed
ManagementDNR; County
Where required, AGAM has BMP to wash and clean trucks when
moving between sites to avoid tracking invasive weed species
between sites. Employee awareness of invasive weed species. Also,
winter drilling limited spreading of weeds of between sites.
2016 to
present
ForestryDNR; County
Coordination with Koochiching, Itasca, and St. Louis Counties in the
event of tree removal will clearing access to drill locations.
2016 to
present
Wetlands
DNR; County
Avoiding wetland impacts through careful siting of drill pads and
drill trails on upland areas where possible and conducting
exploratory operations during the winter season.
2016 to
present
Surface and ground water
impacts
DNR; MDH
Borehole plugging carried out typically within 1 day of hole
completion, pursuant to MDH regulations. Placement of cement at
base of the bore hole and then bentonite grout (from the bottom
up) consistent with MDH regulations, was the dominant method to
seal the holes.
2017 to
present
ENVIRONMENTAL RESOURCE MANAGEMENT (PRESENT, RECENT, AND PAST EXAMPLES)
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AngloGold Ashanti: Project PermittingPHASE I, II & III – Koochiching, Itasca, and St. Louis Counties
Type Agency Scope Status & Requirements
Bore hole plugging
form
MDH Submission to MDH the required bore hole plugging
documentation.
2017-2019 Submitted to MDH.
Timber
reconciliation
County; DNR Payment for trees (>5” MBH) felled on access trails to
boring locations
2017-2018 Payment to land
managers based on fee schedule
and # of trees felled.
Bore hole pad
reclamation
DNR Ensure bore hole location is remediated as needed. 2017 Completed.
2018 Completed.
2019 Completed.
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AngloGold Ashanti: Project Permitting
BATS
SNOWMOBILE
INVASIVE WEEDS
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AngloGold Ashanti: Project Permitting
OLD GROWTH
TROUT STREAM
HISTORICAL/CULTURAL
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AngloGold Ashanti: Project Engagement
STAKEHOLDER ENGAGEMENT
WHO:
• COUNTY & TOWNSHIPS (ROADS, LAND, FORESTRY,
EMERGENCY SERVICES)
• STATE AGENCIES (DNR, MDH)
• TRIBAL GROUPS (BOIS FORTE), VENDORS, UTILITIES, PRIVATE
LANDHOLDERS, IRRRB, MINNESOTA LAND TRUST, FORESTRY
COMPANIES, INDUSTRY ASSOCIATIONS, NGOS, MEDIA
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AngloGold Ashanti: Project Engagement
STAKEHOLDER ENGAGEMENT
HOW:
• Meetings, Updates, ‘Open Door Policy’
WHEN:
• PRIOR – meeting to present overview of company, leases, and
objective. Also provide applications and approvals
• DURING – Updates and invitations to visit operations.
• AFTER – Summary report, if appropriate (County, Forestry
companies)
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AngloGold Ashanti: Project Engagement
STAKEHOLDER ENGAGEMENT
REACTIONS:
• MAJORITY POSITIVE
• DISCUSSIONS WITH PRIVATE LANDHOLDERS AND TRIBAL
GROUPS, INFRMATION AND COORDINATION WITH
RECREATIONAL USE GROUPS
EMPLOYED STAKEHOLDER ENGAGEMENT STRATEGY EARLY
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AngloGold Ashanti: Beyond Au
• Cu-Mo-Au system in Colombia
• Ag in Argentina
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AngloGold Ashanti
THANK YOU.
QUESTIONS?