High Grade Gold-Cobalt Resource Expansion in...
Transcript of High Grade Gold-Cobalt Resource Expansion in...
TSX : MAW; OTCPINK : MWSNF www.mawsonresources.com @mawsonresource
High Grade Gold-Cobalt Resource Expansion in Finland
Corporate Presentation
February 28 2019
Accuracy of Information: Readers are directed to the public disclosure of Mawson Resources Limited (“Mawson”) available
under Mawson’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.
Information contained in this presentation was believed to be accurate at the time it was posted, but may be superseded by
more recent public disclosure of Mawson. Mawson makes no representations or warranties as to the accuracy, reliability,
completeness or timeliness of the information in this presentation.
Forward-Looking Information: Some of the statements contained in this presentation may be forward-looking statements or
forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All
statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that
such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking
statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar
expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking
statements are not guarantees of future results or performance, and that actual results may differ materially from those in
forward-looking statements as a result of various factors, including, but not limited to, capital and other costs varying
significantly from estimates, changes in world metal markets, changes in equity markets, planned drill programs and results
varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community
relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety
risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual
Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, Mawson does not assume the obligation to revise or update forward-
looking statements or information that may be contained in this presentation or to revise them to reflect the occurrence of
future unanticipated events.
Qualified Person: The qualified person for Mawson’s projects, Nick Cook, President for Mawson, and a Fellow of the
Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this presentation.
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Disclaimer
28 Feb. 2018
Finland – New Discoveries
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2015
Diamond drilling ROM0011: 6 m @ 617 g/t Au
20122011
PAL00931 cm
20182017
Gold
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▪ Significant and strategic regional-scale gold-cobalt discovery in
Northern Finland
▪ Top three in-country gold resources and growing fast
▪ Constrained Inferred Mineral Resource of 424,000 ounces of
gold at 3.1 g/t AuEq (Dec 2018)
▪ Open-pittable grade 2.8 g/t AuEq and UG grade 5.2 g/t AuEq.
▪ Substantial potential to grow, with only 20% (800m) of the 4km
trend to shallow depths (av. depth drilling 88m)
▪ 15,000 resource expansion drill program underway
▪ Fully financed for this drill season
▪ Strategic & institutional shareholder base +60% (incl.
Goldcorp, Areva, private equity and US endowments)
Investment Highlights
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Capitalization Summary Major Shareholder Summary
Management & Board aligned with investors
Share Price (27 Jan. 2019) C$0.23
Basic Shares Outstanding 141.6M
Fully Diluted 171.9M
Basic Market Capitalization C$32.6M
Cash (est. 17 Jan. 2018) C$5.5M
TOTAL ENTERPRISE VALUE C$27.1M
Shares (M) %
Sentient Equity Partners 37.8 26.7
Goldcorp 18.0 12.7
Other Institutions 34.6 24.4
TOTAL 90.4 63.8
Insiders 7.3 5.1
Warrants and Options
Stock Options
23 Sep ’19 $0.35 4,620,000
12 May ’20 $0.365 50,000
15 Jun ’20 $0.39 400,000
Warrants
02 Dec ’19 $0.60 7,500,000
08 Dec ’19 $0.44 773,702
08 Dec ’19 $0.50 7,512,933
14 Feb ’20 $0.65 9,500,000
Share Price Performance – 1 Year
Exchanges: TSX : MAW; OTCPINK : MWSNF; Frankfurt : MXR
Ownership & Capital Structure
Discovery is About Leadership
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Michael Hudson
Chairman & CEO
28 yrs Geology, Capital
Markets
Dr. Nick Cook
President
24 yrs Geology
Noora Ahola
Environmental Director
12 yrs Finnish Env.
Administration
Mariana Bermudez
Corporate Secretary
Tapani Hyysalo
Manager Operations Finland
Nick Demare
CFO
Noora Ahola
Environmental
Nick DeMare
CPA
David Henstridge
Geologist
Michael Hudson
Geologist
Colin Maclean
Geologist / Finance
Mark Saxon
Geologist
Philip Williams
Corporate Finance
Directors Management Advisers
Georgina Carnegie
World Bank, OECD
Dr. Erkki Vanhanen
Finnish Gold Exploration
Gil Leathley
Mining Engineer
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The World´s Highly Prospective Mineral Regions
Map by Risto Pietilä
Finland is the new “Klondike”, new discoveries, shallow cover, entry of significant players
Nordics: Rocks & Opportunity
▪ Metal basket of Europe
▪ +500 year history,
many Tier 1 projects
▪ Reformation since early
1990’s. Clear guidelines
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▪ Safe
▪ Cheap Grid Power
▪ Water
▪ Roads
“The top jurisdiction in the world for
investment based on the Investment
Attractiveness Index is Finland.”
Huge Benefits for Developers
Investment Attractiveness Index
▪ Skilled workforce
▪ Airport
▪ No FIFO
▪ 20% tax
7.4Moz Au
Kittilä mine
Finland is a Mining Country
100 km
Finland hosts the largest primary gold producer in Europe
Kittilä Snapshot
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Main gold-
cobalt work
focused to date
Rompas-Rajapalot Prospect Locations
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Resource Upside Evident and Growing
▪ A pit and underground Constrained Inferred Mineral
Resource of 424,000 ounces at 3.1 g/t AuEq (4.3 million tonnes at
2.3 g/t Au, 430 ppm Co) at 0.37 g/t AuEq cut-off open pit and 2 g/t
AuEq underground
▪ Unconstrained Inferred Mineral Inventory for the Palokas and Raja
prospects of 482,000 ounces 2.4 g/t AuEq (6.2 million tonnes at 1.7
g/t Au, 410 ppm Co) at 0.4 g/t AuEq cut-off.
▪ The constrained resource demonstrates the high-grade of Rajapalot
with open-pittable grades of 2.8 g/t AuEq (2.1 g/t Au and 420 ppm
Co) and underground grades of 5.2 g/t AuEq (4.4 g/t Au and 520
ppm Co)
▪ First resource estimate has potential to grow substantially:
▪ only 20% (800 metres) of the 4 kilometres known mineralized
trend included within the maiden resource to relatively shallow
depths (average depth of drilling 88 metres within 34.2
kilometres drilled to date at Rajapalot)
▪ Electromagnetics (EM) driving targeting below and along strike from
resource areas
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EM Drives Resources Expansion
Raja Maiden Resource Block Model
Rumajärvi/
PAL0037: 19.5m @ 2.1 g/t AuEq from 20.5m
PAL0040: 8.0m @ 1.6 g/t AuEq from 35.3m
1 km
South Palokas Maiden Resource Block
Model
TEM Plates
extending
resource area
+1km length
The Hut
PAL0033: 2.2m @ 7.9 g/t AuEq from 152.5m
AuEQ
g/t
Area of ground fixed loop
TEM survey underway
Area surveyed by TEM survey to dateTEM Plates
extending
resource area
down dip 450
metres
Palokas Maiden Resource Block Model
DHEM Plate (Drill hole)
VTEM Plate (Airborne)
TEM Plate (Ground)
AuEq g/t
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Resource Upside Evident
Raja
Longitudinal View to NE Grade Block Model
and TEM PlatesAuEq g/t
Conductors continue to depth, below resource block models
South Palokas
Cross Section TEM Plate and Block Model
100 metres
PAL0016: 8.4 m @ 5.9 g/t AuEq
from 206m
100 metres
NW
VTEM Plate
TEM Plate
SE
Open
Open
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Ground Fixed Loop EM conductor extends to +1km down plunge from surface
BB’
Longitudinal Section: Raja Prospect
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Finland’s Strategic Cobalt
▪ Finland refines half the world’s cobalt outside of China. The world’s largest cobalt refinery islocated 400 kilometres to the south of Rajapalot
▪ CRU estimates refining of 22,734 tonnes of cobalt in Finland (2017) (or 18.4% of world refinedcobalt production of ~123,000 tonnes), with 90% of Finnish refined cobalt sourced from severalChinese-owned mines in the DRC
▪ Meanwhile, Finland mines just 650 tonnes or 0.5% of the world's cobalt
▪ Finland and Sweden are on the hunt for an ethical sources with a traceable ledger for cobalt,considered crucial for achieving climate goals. Mawson can support Finland’s ethical andsustainable needs.
New Exploration Technologies
EU contribution:€6,901,276
Mawson Participant
▪ Excellent results of total 95% - 99% (average 97%) obtained by a combination of gravity (26-48%) and conventional cyanidation**SGS Cornwall
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▪ Mineralogical work shows cobalt hosted in cobaltite (85% mass) and linneate (15% mass) in certain areas and cobalt pentlandite only in other areas
Rajapalot Gold Metallurgical Test Work
Possible Implications for Mineral Processing Options
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▪ Estimated grain size:
▪ Au – 5-20 micron (>50 micron)
▪ Cobaltite 40
▪ Linnaeite 20 micron
▪ Locked Cycle Test Work Planned Q1 2019
▪ Work completed in
association with Camborne
School of Mines, Geological
Survey of Finland
Rajapalot Cobalt QEMSCAN
24 Month Technical Program
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MayMarFebJanDecNovSeptAugJulJun Oct Apr
Summer Work Winter Work
GTK Geometallurgy
7000 Cobalt Re-assays
EM Geophysics
Rajapalot
Maiden Resource
Metallurgy Testwork Au/Co
15km drilling, resource Expansion esp. Raja at
depth
2018 2019
MayMarFebJanDecNovSeptAugJulJun Oct Apr
Summer Work Winter Work
Resource Upgrade
2019 2020
Summer Diamond Drilling
Hirvimaa/ Männistö
Environmental Permitting
Drilling – Resource Expansion
Resource
Upgrade
Summer Diamond Drilling
Hirvimaa/Männistö
6 month budget: C$6M
Explore, Discover and Develop
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▪ Mawson team has a strong track record
▪ Creation of C$500M combined market cap. during last cycle through discovery,
acquisition, corporate restructuring and relationships:
▪ Discovery 4th largest global HREE resource
▪ New gold camp Finland
▪ Graphite mine reopen
▪ Large zinc discovery Peru, zinc resource expansion Ireland
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▪ Poised to capitalize on increased interest in Finnish
exploration
▪ 15,000 resource expansion drill program starts Jan ’19
▪ Active drill programs and fully financed
▪ Significant and strategic regional-scale gold-cobalt
discovery in Northern Finland
▪ Substantial potential to grow, with resource only
representing 20% (800m) of the 4km trend to shallow
depths (av. depth drilling 88m)
▪ Strategic & institutional shareholder base +60% (incl.
Goldcorp, Areva, private equity and US endowments)
Summary
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MAWSON RESOURCES LTD
INVESTOR RELATIONS (CANADA)
MAWSON OY
SUOMI (FINLAND)
Mariana Bermudez
- Corporate Secretary
Tel: +1 (604) 685 9316
Fax: +1 (604) 683 1585
Noora Ahola
Environmental Director
Ahjotie 7, 96320 Rovaniemi,
Finland
Contact Us
Kittilä Timeline
1986
Discovery GTKVisible Gold SSW
Suurikuusikko
1986
01
77 drill holesTwo campaigns 9319m
1987-1997
02
1996
0.285 Moz1.5Mt @ 5.9 g/t Au
(285K Oz Au)
1997
03
AgnicoAcquisition
2005
US$150 million
05
RiddarhyttanPublic tender
April 1998
04
2016
07
MineDecision
2006
468 drill holes143km
1998-2005
06
2.6 Moz16Mt @ 5.1g/t Au
2007
08
7.4 Moz26.9Mt @ 4.7g/t Au
2007
10
2006
09
575 drill holes140 km
2006-2008
PIVOT
5.7 Moz Au
2008ML 2003
First Resource Published
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Comparables
Aurion Resources Ltd (TSXV:AU) C$81.2Mwww.aurionresources.com
Rupert Resources Ltd (TSXV:RUP) C$103.2Mwww.rupertresources.com
Mawson Resources Ltd (TSX:MAW) C$32.8Mwww.mawsonresources.com
27 Feb 2019
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22 metres @ 2.9 g/t AuEq, 1.5 g/t Au, 662 ppm CoOriginal Assay 9.0 m @ 3.2 g/t Au
AuEq % increase 114%
▪ Combined gold-cobalt mineralized intersections display increased widths and often show better continuity
▪ Cobalt mineralization is hosted in cobaltite and cobalt pentlandite that are conventionally mined and processed in other deposits
Cobaltppm
Gold Eqppm
Goldppm
LithologyCode
DownholeDepth (m)
Au/Co Distribution: Drill Hole PRAJ0110
▪ 82% of the Rompas-Rajapalot project lie outside of Natura areas
▪ Natura 2000 sites cover about 14% of Finland, 18% of the EU's
land area and approximately 30% of Northern Finland
▪ Mawson ARE permitted to complete all exploration in Rajapalot
Natura zones – 15 year permit with 3 year renewals
▪ The next step required will come at mining where we may need
biodiversity offsets within Natura areas
(20% of exploration permit area)
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▪ There are mining projects that have been permitted
and are in production including Krumovgrad,
Prosper Haniel and Mechelse Heide Zuid
▪ Anglo American is currently permitting the Sakatti
Ni-Cu-PGE project in Natura for mining in Finland
Finland, Mawson & Natura