High Grade Gold-Cobalt Discovery in Finland

Transcription

1 @mawsonresource High Grade Gold-Cobalt Discovery in Finland Corporate Presentation December 2018 TSX : MAW; OTCPINK : MWSNF

2 Disclaimer 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SEDAR ) at Information contained in this presentation was believed to be accurate at the time it was posted, but may be superseded by more recent public disclosure of Mawson.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 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 forwardlooking 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. 5 Dec

3 Finland New Discoveries Diamond drilling ROM0011: g/t Au Gold 1 cm PAL0093 3

4 Investment Highlights High-grade, regional-scale gold-cobalt discovery in northern Finland, large land package (+16,000 Ha) Project pivoting from discovery to maiden resource (imminent) and expansion, met. studies and advanced permitting Resource expansion, 15,000m program starts Jan 19* 16km drill program recently completed, highlights: g/t Au Eq, 8.0 g/t gold, 823 ppm Co g/t Au Eq, 3.6 g/t gold, 956 ppm Co Cobalt assays continue to improve width, continuity and grade (+20-30% insitu value), significant potential by-product Fully financed for next two drill seasons (C$8.0M cash) Experienced team of ore finders Strategic & institutional shareholder base +60% (incl. Goldcorp, Areva, private equity and US endowments) * Permitting ongoing 4

5 Nordics: Rocks & Opportunity The World s Highly Prospective Mineral Regions Metal basket of Europe +500 year history, many Tier 1 projects Reformation since early 1990 s. Clear guidelines Map by Risto Pietilä Finland is the new Klondike, new discoveries, shallow cover, entry of significant players 5

6 Finland is a Mining Country Investment Attractiveness Index The top jurisdiction in the world for investment based on the Investment Attractiveness Index is Finland. 7.4Moz Au Kittilä mine Kittilä Costs Finland hosts the largest primary gold producer in Europe Huge Benefits for Developers Safe Skilled workforce Cheap Grid Power Airport Water No FIFO Roads 20% tax 100 km 6

7 Rompas-Rajapalot Prospect Locations Main goldcobalt work focused to date 10 km 7

8 Rajapalot Drill Results Initial areas included in the maiden resource calculation Drillhole Assays Palokas PRAJ g/t AuEq from 0m PRAJ g/t AuEq from 2.5m PRAJ g/t AuEq from 24.7m PRAJ g/t AuEq from 38.7m PALOKAS Gold Host Horizon Boardwalk Prospect (boulder source not yet discovered) UNTESTED 1 km PAL g/t AuEq from 10.6 metres UNTESTED Rumajärvi/The Hut PAL0033: 7.9 g/t AuEq from 152.5m PAL0037: 2.1 g/t AuEq from 20.5m PAL0040: 1.6 g/t AuEq from 35.3m A B B A RAJA Raja PAL g/t AuEq from 180.0m PAL g/t AuEq from 245.0m PAL g/t AuEq from 244.1m PAL g/t AuEq from 276.3m PAL g/t AuEq from 82m PAL g/t AuEq from 365.3m PAL0075: 8.7g/t AuEq from 82.2m 8

9 Cross Section: Raja Prospect A A 9

10 Longitudinal Section: Raja Prospect B B Ground Fixed Loop EM conductor extends to +1km down plunge from surface 10

11 Block Diagram: Raja Prospect 11

12 Longitudinal Section: Palokas Prospect Palokas South Palokas PRAJ0114; g/t AuEq from 58.1 m PAL0027; g/t AuEq from 27.5 m PAL0030; g/t AuEq from m PRAJ0110; g/t AuEq from 63.9 m PAL0090; g/t AuEq from m PAL g/t AuEq from m 100 meters PAL0016; g/t AuEq from m UNTESTED PRAJ0003 Grade x width AuEq > <10 No significant assays PAL0095; g/t AuEq from m PRAJ0020 Conductors at depth UNTESTED Gold equivalent (AuEq) grade x width intersections are plotted using Co 481 ppm = 1 g/t Au Data are projected onto inclined plane dipping at 42 degrees towards 302 degrees 12

13 Rajapalot: Upside Evident Palokas Cross Section VTEM Plate and Block Model Raja Longitudinal View to NE Grade Block Model and TEM Plates Au g/t 100 metres PAL0016; g/t AuEq from 206m Au g/t 150 metres Conductors continue to depth, below resource block models 13

14 An Elephant By The Tail? Ground Fixed Loop EM Surveys ongoing Palokas PRAJ g/t AuEq from 0m PRAJ g/t AuEq from 2.5m PRAJ g/t AuEq from 24.7m PRAJ g/t AuEq from 38.7m VTEMplus and TEM Modelled plates VTEMplus Plates The Hut PAL0033: 7.9 g/t AuEq from 152.5m Fixed Loop TEM Plates extending resource area +1km length Rumajärvi/ PAL0037: 2.1 g/t AuEq from 20.5m PAL0040: 1.6 g/t AuEq from 35.3m Raja PAL g/t AuEq from 365.3m PAL g/t AuEq from 180.0m PAL g/t AuEq from 245.0m PAL g/t AuEq from 244.1m PAL g/t AuEq from 276.3m 1000 metres 14

15 Finland s Strategic Cobalt New Exploration Technologies EU contribution: 6,901,276 Mawson Participant Finland refines half the world s cobalt outside of China. The world s largest cobalt refinery is located 400 kilometres to the south of Rajapalot CRU estimates refining of 22,734 tonnes of cobalt in Finland (2017) (or 18.4% of world refined cobalt production of ~123,000 tonnes), with 90% of Finnish refined cobalt sourced from several Chinese-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 and sustainable needs. 15

16 Au/Co Distribution: Drill Hole PRAJ0110 Downhole Depth (m) Lithology Code Gold ppm Cobalt ppm Gold Eq ppm 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 g/t AuEq, 1.5 g/t Au, 662 ppm Co Original Assay g/t Au AuEq % increase 114% 16

17 Rajapalot Gold Metallurgical Test Work Excellent results of total 95% - 99% (average 97%) obtained by a combination of gravity (26-48%) and conventional cyanidation* *SGS Cornwall Mineralogical work shows cobalt hosted in cobaltite (85% mass) and linneate (15% mass) in certain areas and cobalt pentlandite only in other areas 17

18 Rajapalot Cobalt QEMSCAN Possible Implications for Mineral Processing Options Estimated grain size: Au 5-20 micron (>50 micron) Cobaltite 40 Linnaeite 20 micron Locked Cycle Test Work Planned Q Work completed in association with Camborne School of Mines, Geological Survey of Finland 18

19 24 Month Technical Program Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May GTK Geometallurgy Metallurgy Testwork Au/Co 7000 Cobalt Re-assays Maiden Resource Summer Diamond Drilling Hirvimaa/ Männistö 15km drilling, resource Expansion esp. Raja at depth 6 month budget: C$6M EM Geophysics Rajapalot Summer Work Winter Work Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Resource Upgrade Environmental Permitting Summer Diamond Drilling Hirvimaa/Männistö Drilling Resource Expansion Resource Upgrade Summer Work Winter Work 19

20 Western USA Bonus Optionality One of the largest areas for exploration in mainland USA (56 kilometres x 39 kilometres); Behind locked gates for more than 150 years; Prospective for high and low sulphidation epithermal gold systems; Sharp focus remains on flagship in Finland, while the WUSA project is an opportunity for rapid progress and discovery in an alternate jurisdiction. No share, low cash in ground deal; Explored with a view to potential future joint venture, strategic alliance, or corporate transaction; Western Cascade Ranges of Lane and Douglas Counties, Oregon, USA; Oregon projects currently progressing through permitting to mine: Paramount Gold NV Grassy Mountain, Alamos Quartz Mountain. 20

21 Western USA Drilling now Scorpion-Cinnabar A 2.2 km long and up to 400-metre-wide zone where soil geochemical samples regularly exceed 1g/t gold (up to 5.51g/t) above highly acid altered rocks. Huckleberry A series of siliceous ridges which trend over 3 kilometres, with high sulphidation vuggy silica textures and acidic steam vents that outcrop for 1,000 metres. Geochemically anomalous rock samples with Sb, As, Hg, Bi, Mo are coincident with classic epithermal alteration zones (alunitic, silicification, argillic and propylitic). Both prospects never drilled 21

22 Explore, Discover and Develop 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 22

23 Discovery is About Leadership Directors Management Advisers Noora Ahola Environmental Nick DeMare CPA David Henstridge Geologist Michael Hudson Geologist Colin Maclean Geologist / Finance Mark Saxon Geologist Philip Williams Corporate Finance 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 Georgina Carnegie World Bank, OECD Dr. Erkki Vanhanen Finnish Gold Exploration Gil Leathley Mining Engineer 23

24 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Volume Share Price (C$) Ownership & Capital Structure Capitalization Summary Share Price (9 Nov. 2018) C$0.23 Basic Shares Outstanding 141.6M Fully Diluted 171.9M Basic Market Capitalization C$32.6M Cash (est. 5 Dec. 2018) C$8.0M TOTAL ENTERPRISE VALUE C$24.6M Warrants and Options Major Shareholder Summary Shares (M) % Sentient Equity Partners Goldcorp Other Institutions TOTAL Insiders Management & Board aligned with investors Share Price Performance 1 Year Stock Options 23 Sep 19 $0.35 4,620, May 20 $ , Jun 20 $ ,000 Warrants 02 Dec 19 $0.60 7,500, Dec 19 $ , Dec 19 $0.50 7,512, Feb 20 $0.65 9,500, , , , , , , ,000 50,000 0 $0.70 $0.60 $0.50 $0.40 $0.30 $0.20 $0.10 $0.00 Exchanges: TSX : MAW; OTCPINK : MWSNF; Frankfurt : MXR 24

25 Summary Large high-grade gold-cobalt system from surface Project pivoting from discovery to resource expansion, met studies and advanced permitting Growing resource: Maiden resource imminent, systems continue to depth and multiple untested targets within 100km 2 Poised to capitalize on increased interest in Finnish exploration Significant cobalt in association with and peripheral to gold. Potential to add significant value as a by-product Active drill programs and fully financed Significant strategic partners (+60% shareholder base) 25

26 Contact Us MAWSON RESOURCES LTD INVESTOR RELATIONS (CANADA) Mariana Bermudez - Corporate Secretary Tel: +1 (604) Fax: +1 (604) info@mawsonresources.com MAWSON OY SUOMI (FINLAND) Noora Ahola Environmental Director Ahjotie 7, Rovaniemi, Finland nahola@mawson.fi 26

27 Comparables Aurion Resources Ltd (TSXV:AU) C$59.7M Rupert Resources Ltd (TSXV:RUP) C$101.6M Mawson Resources Ltd (TSX:MAW) C$32.6M 4 Dec

28 Kittilä Timeline 77 drill holes Two campaigns 9319m Riddarhyttan Public tender April drill holes 143km Moz 5.1g/t Au Moz 4.7g/t Au ML Moz Au PIVOT Discovery GTK Moz Agnico Mine 575 drill holes Visible Gold SSW Suurikuusikko g/t Au (285K Oz Au) 1997 Acquisition 2005 US$150 million Decision km

29 Finland, Mawson & Natura 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) 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 29