Coppermoly Presentation August 2010...Investor Presentation ‐August 2010 • Barrick currently...
Transcript of Coppermoly Presentation August 2010...Investor Presentation ‐August 2010 • Barrick currently...
“Discovery of Major Copper Mineralised Systems currentlybeing Drill Tested”
Investor Presentation ‐ August 2010
• Barrick currently spending up to A$20m on drilling to attain a 72% stake of Coppermoly’s three tenements at Nakru, Simuku and Talelumas.
• Major Copper Mineralised System Demonstrated with drill hole intersection of 213.75m grading 0.92% copper and 0.33 g/t gold at the Nakru‐1 breccia system.
• Drilling underway at the adjacent Nakru‐2 system.
• Drilling underway at the Simuku system to test for additional tonnage potential from the Inferred Mineral Resource of 200 million tonnes at 0.47% copper equivalent*.
• Projects are located close to major infrastructure including roads, deep water port, airport and general amenities.
• Coppermoly have two tenement applications with copper and gold prospects on New Britain Island covering 1500 square kilometers.
Highlights
Mineralised Papua New Guinea
Lihir ‐ 40 Moz AuEq
944Mt at 0.48% Cu, 0.56g/t Au
Misima ‐ 5 Moz Au
Morobe ‐ 5 Moz Au
Yandera ‐667 Mt at 0.33% Cu
Porgera –25 Moz Au
Frieda ‐1060 Mt at 0.53% Cu,0.29g/t Au
Copper Production in PNG averages Copper Production in PNG averages around 200,000t per annum. (US $1.4b)around 200,000t per annum. (US $1.4b)
Tolukuma ‐ 1 Moz AuEq
Ok Tedi –663 Mt at 0.76% Cu, 0.85g/t Au
200Mt at 0.47% CuEq
Mt. Nakru
Panguna ‐
Simuku
AustraliaMap Area
Papua New Guinea
Australia
Kainantu ‐ 2 Moz Au
Excellent Location for Project Development
• Vehicle access to both projects
• Deep water port at provincial capital of Kimbe
• Good local infrastructure and relatively easy logistics
• Topography not extreme (200m to 800m elevation)
• Landowners work on projects
• Large oil palm industry on the islandhave developed local infrastructure
Copper Industry Grade Decline
NakruCopper Project
Kimbe Port and Hoskins Airport
New Britain Island Copper‐Gold Province
Topography Image
Tenements subject to Barrick Farm‐in:• EL 1077 ‐ Simuku• EL 1043 ‐Mt. Nakru• EL 1445 ‐ Talelumas
New Discovery ‐ Nakru Copper ‐ Gold Breccia
19m at 4.3% copper
55m at 4.79 g/t gold
213.75m grading 0.92% copper and 0.33 g/t gold
6.7m grading 3.80% copper
Nine kilometers of surfacebulldozer trenching
Twenty Two Drill Holes Completed (3017.9m)
Nakru 2 Chargeability Nakru 1 Chargeability
Near surface copper lens 3% to 4%
copper target
Area of previous drilling, copper in drill holes average > 0.7%
BWNBDD00001213.75m averaging
0.93% copper
copper target
Nakru 2 Nakru 1
3‐D Induced Polarisation (IP) geophysical anomalyHigh grade copper targets currently being tested
BWNBDD00002
Nakru 1 Drilling and Geophysics (Chargeability Slice at 200m Depth)
EOH 276.7m
NAK017210.1m at 0.45% Cu, 0.17g/t Au, from 61.2m
NAK006140m at 0.57% Cu from 57m
NAK00386.15m at 0.46% Cu, 0.46g/t Au, from 85m
BWNBDD0001213.75m at 0.92% Cu, 0.33g/t Au, from 74.45mEOH 361.1m
Section Linefor Schematic Plan
Oxide ZoneAu + Mo + As +Ag, Pb, Zn, Te
GoethiteHaematite
16m at 0.74 g/t Au0.14 % Cu
Drill Section Schematic Plan
Primary Copper Zone
5m at 2.1 % Cu, 1.2 g/t Au
SW NW
Secondary CopperEnrichment Zonechalcocite + covellite
213.75m at 0.92% Cuand 0.33g/t Au(1.12% CuEq)
chlorite + silica + sericite breccia chalcopyrite + pyrite in quartz veinlets and matrix controlled
13m at 2.8% Cuincluding 3m at 7.51% Cu
MAJOR IP
TARGET
7m at 2.37% Cuand 1.29 g/t Au
22.25m at 1.47% Cu
61m at 0.32 g/t Au
NAK0
17
NAK0
14
NAK0
13
NAK0
15
NAK002
NAK0
16
NAK0
01
28m at 1.1 % Cu,0.27 g/t AuIncluding:4m at 3.1 %Cu9m at 1.94 %Cu
IPTARGET
24m at 1.35% Cuand 1.03 g/t Au
??
?
lower cpy:py
Base of Oxidation
BWNBDD0001
BWNBDD00001
SUPERGENE COPPERZONE
PRIMARY COPPER – GOLD ZONE
50m
1.0% CuEq
0.25% CuEq361.1m
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OPEN
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?
??
Nakru 1, – NAK017 and BWNB00001 Cross Sections
210m at 0.45% Cu and 0.17g/t Au
272.6m
50m
NAK017
OPEN
?
?
SUPERGENE COPPERZONE
PRIMARY COPPER – GOLD ZONE
213.75m at 0.92% Cu and 0.33g/t Au,(1.12% CuEq)
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??
Nakru Copper ‐ Gold Project
1 KILOMETER
STRINGER ZONE
OUTER
MARGINALCORE
Silica ‐ Pyrite ‐ Sericite+/‐ Cpy + Au
Silica ‐ Sericite ‐Pyrite
Chlorite ‐ Sericite + Tr. Py
Ba ‐ Ag ‐ Au Zn ‐ Cu Cu ‐ Pb ‐ Zn
Zn ‐ Pb – Ag ‐ Cu
Fine grained volcaniclastics and sediments
Recent Ash / Pumice
March 2010Denis O’Neill
Pumiceous BrecciaRhyo ‐ dacitic "flow dome"Hydrothermal breccia(NAKRU VOLCANIC COMPLEX)
Exhalative massive sulphide lenses(NAKRU 2)
Stringer Zone feeding nearsea floor massive sulfides
'Supergene' Copper Zone
(Nakru 1)Core zoneDisseminated Py ‐ Cu (Mt. Lyell)?toMassive Py ‐ Cu (Highway ‐ Reward)?
HYBRID / EPITHERMAL COPPER‐GOLD “BRECCIA PIPE” MODEL for the NAKRU SYSTEM
Nakru 1 and 2 Drilling and Geophysics
Copper intersected in
drill holes >0.1%
Drill tested by Barrick
Envelope of copper mineralisation at surface > 0.1%
Core from NAK 17 Semi-massive Sulphide
Nakru 2 Sulphide Copper System
• Large 700m diameter envelope of surface mineralisation• Breccia hosted polymetallic System• First ever two diamond drill holes by Coppermoly intersected copper lens of 3% to 4% associated with geophysical anomaly
Sulphide related anomaly
NAK02‐00273m at 0.96% Cu from 36m depth
NAK02‐00151.7m at 1.21% Cu at 30.3m depth
Soil contours > 100ppm Cu
Nakru 2 DrillingSection ResultsMASSIVE SULPHIDE
6.7m at 3.8% Cu0.19 g/t Au1.66% Zn
MASSIVE SULPHIDE7m at 3.36% Cu0.19 g/t Au2.0% Zn11.4 g/t Ag57 ppm Mo
Trench88m at 1.2% Cu, 0.33 g/t Au19.9% Cu sample in trench
Sulphide breccia outcrop
21m at 0.83% Cu
9m at 0.53% Cu
3m at 1.41% Cu
NAK2‐002112.5m
NAK2‐001299.8m
52m at 1.2% Cu
73m at 0.96% Cu
Core shed at Nakru
Simuku / Talelumas ProjectSimuku Warden’s Hearing
May 2010
Simuku Warden’s Hearing, May 2010
Simuku and Yandera Copper Systems
Simuku:1. Maiden Inferred Resource of
200 million tonnes at 0.36% copper within one third of the known mineralised system
2. 20km from deep water port3. 300m above sea level
Yandera:1. Indicated and Inferred
Resource of 667 million tonnes at 0.33% copper
2. 80km from deep water port3. 1700m above sea level
Simuku Copper/Molybdenum System
Barrick to Begin Drill TestingFor Tonnage/Size Potentialof the Mineralised System
Simuku Fly Camp
Surface Trench Results –
28 kilometres
• 14m at 1.03% copper and 0.26 g/t gold
• 200m at 0.75% copper
Drilling Results
(31 diamond holes)
• 117m at 0.61% copperCopper Enrichment Top 20m
• Tobarum : 27m thick at 0.74% copper
• Nayam: 16m thick at 1.0% copper
Primary Copper Zone
• SMD026: 56m at 0.77% copper at 207m depth below average grades of 0.38% copper
Simuku Copper Results
Talelumas – EL 1445 Gold and Copper Prospects
Isme Creek Gold Prospect• Geochemistry similar to
the Nakru systems
Mt.Misusu Copper Prospect• Copper anomalous area of
850 metres by 500 metres
• Possible extension of Simuku system
Achieving its Objectives
July onwards 2010Barrick Drilling Results
March ‐ June 2010Coppermoly Undertakes Projects Acquisition
Second Half 2010Coppermoly Begins Exploration Activities on its Tenement applications
May 2010Barrick Begins Drilling
November 2009Project Funding A$20m through Barrick
May 2009Maiden Inferred Resource
February 2009Nakru Geophysics and Drilling Results
May‐June 2008Acquire Heavy Machinery, upgrade Track access, set‐up camps, Landowner discussions
January 2008IPO Raises $8million
DateTask
Peter McNeil – Non Executive Chairman, 25 years experience in PNG.
Peter Swiridiuk –Managing Director, 20 years experience in Exploration in PNG, Middle East, Mexico, Solomon Islands, Cyprus and Australia.
Maurice Gannon – Executive Director and Company Secretary, BSc, FCIS, FAIM, MAusIMM, 21years experience in earth sciences, business and financial management.
Bob McNeil – Non Executive Director, 47 years experience in mining and exploration.
Dal Brynelsen – Non Executive Director, CEO of Vangold Resources. North American connections.
Ces Iewago – Non Executive Director. BACom, MBA, FAICD, Expertise in PNG banking and finance. Director of NGG. Political and Mining connections in PNG.
On‐Site PNG Administration and Base of Operations.
Denis O’Neill – Geological Consultant, over 36 years experience in mining and exploration.
Experienced Board and Management
Corporate Overview (ASX:COY)
Raised $2.1mRights Issue and Shortfall September 2009
Raised $0.57mBarrick (5% COY shares issued)
14 centsShare Price
$19.2 millionMarket Capitalisation
46 million Total Listed Options (COYO 30cents) and (COYOA 7cents)
58%Top 20 Shareholders currently hold
$1.8 MCash at Bank
13 million Total Unlisted Options
137 million Current Shares on Issue
Raised $8mListed on ASX January 2008
• Leverage though a major discovery at Nakru
• Excellent experience in PNG
• Large copper, gold and molybdenum systems
• High‐grade primary and secondary copper mineralisation
• Drilling and results by Barrick funding on a monthly basis
• Acquisition of two new projects covering 1500 sq.km
• Excellent exploration methodology
Why invest in Coppermoly?
Disclaimer
This document is not a disclosure document nor does it constitute the provision of financial product advice. No representation or warranty is made as to the accuracy, completeness or reliability of the information.
The information is provided expressly on the basis that recipients will carry out their own independent inquiries into the matters contained herein and make there own independent decisions about the affairs, financial position or prospects of the Company which reserves the right to update, amend or supplement any information at any time in its absolute discretion.
The technical information provided by Barrick has been interpreted by Coppermoly Ltd and does not necessarily reflect the viewsby Barrick.
Competency Statement
The information in this presentation that relates to Exploration Results is based on information compiled by Peter Swiridiuk, who is a Member of the Australian Institute of Geoscientists.
Peter Swiridiuk is a consultant to Coppermoly Ltd and employed by Aimex Geophysics. Peter Swiridiuk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Peter Swiridiuk consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Please consult www.coppermoly.com.au for more detailed information.
Notes:
• All stated intersections are weighted assay averages ([Sum of each total interval x grade] / Total length of intersection).
• Drillhole samples from drillholes were transported to the camp site, logged, orientated and sampled between 1m and 2m intervals from core split by saw. The split samples are then transported to the town of Kimbe where they are air freighted to Intertek in Lae (PNG) for sample preparation. Samples are dried to 106 degrees C and crushed to < 2 mm. Samples greater than 2kg are rifle split down to 1.5kg and pulverised to 75 microns. The final 300g sized pulp samples are then sent to Intertek laboratories in Jakarta for geochemical analysis. Intertek analyse for gold using a 50g Fire Assay with Atomic Absorption Spectroscopy finish. Other elements are assayed with ICPAES Finish. Copper values greater than 0.5% are re-assayed. Intertek laboratories have an ISO 17025 accreditation. Unused half core is stored on site before being transported to the town of Kimbe for permanent storage.
• Drillhole BWNBDD0001 Drill Core is PQ, HQ and NQ in size with core recovery predominantly 100%.
• Drillhole co-ordinates are given in UTM Zone 56, AGD66 Datum.
• Mineralised intersections are quoted as downhole widths.