Exploring for Carlin gold deposits

Transcription

1 Exploring for Carlin gold deposits Nevada and Queensland Stars in Resources 2011 Series 21 September 2011 ASX:NVG

2 DISCLAIMER Forward Looking Statement Whilst based on information from sources considered reliable, Limited, its directors, employees and consultants do not represent, warrant or guarantee, expressly or impliedly, that the information in this document and presentation is complete or accurate. To the maximum extent permitted by law, Limited, disclaims any responsibility to inform any recipient of this document and presentation of any matter that subsequently comes to its notice, which may affect any of the information contained in this document and presentation. This material is used for a company presentation only, for more detailed information the reviewer should seek company information as provided in Limited s ASX releases, Quarterly Reports and Prospectus. JORC and Competent Person Statement Information herein relating to Exploration Results is based on information compiled by Mark Dugmore B.App.Sc, M.Sc who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Dugmore is employed by Limited, as Chief Executive Officer. Mr Dugmore has more than five years experience relevant to the style of mineralisation and type of deposit being reported 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, Minerals Resources and Ore Reserves (the JORC Code). This report is issued with the prior written consent of the Competent Person as to the form and context in which it appears. 2

3 3 OVERVIEW Exploring for Carlin-style sedimentary rock-hosted gold deposits Focus on the prolific gold province of Nevada - host of multi-million ounce gold deposits Seven Property Agreements and (1) 100%-owned Property in Nevada Drilling NOW underway in Nevada Adjacent to major mines in the Carlin & Cortez-Pipeline Trends First phase drilling completed on one of the 6 projects planned for drill testing in 2011 Three major 100% owned gold projects in Queensland Large areas (>8,400 km 2 ) - potential for discovery of new gold districts Historic g/t Au at surface in jasperoid; 17.8 g/t Au in black siltstone Two >10km strike length anomalies defined in recent Navaho drainage sampling Clear exploration strategy Regional approach using leading-edge technologies integrating geophysics / geochemistry Aggressive drill testing of targets, especially deeper drilling approach (>150m) Ongoing project generation initiatives Strong technical team with discovery track record April 2011 listing on ASX (NVG) following successful capital raising of $9M Strong news flow for remainder of 2011 from planned drilling programs

4 SHAREHOLDER / FINANCIAL OVERVIEW ASX Code: NVG Directors Shares (ordinary): 92.5m Options (unlisted): 59.7m Share Price: 10 cents (1) Market Capitalisation: A$9.3m Chairman CEO Non-Exec Nick Mather Mark Dugmore Bob Skrzeczynski Brian Moller Ben Harrison Cash: A$6.3m (2) Major shareholders Board & Management 35.9% (1) As at 15 th Sept2011 (2) As at 19 th Sept 2011 (unaudited) 4

5 Reno Carson City Lovelock SLEEPER COMSTOCK LODE Significant gold deposits <0.5 Moz Moz Moz Moz >5.0 Moz Mopung JV 100% owned TWIN CREEKS GETCHELL Winnemucca Tobin Austin CORTEZ CARLIN ROUND MTN Tonopah JERRITT CANYON Carlin East Utah Clipper TAZ Rose Mine Elko BALD MTN Stevens Basin ARCHIMEDES Whitehorse Flats Las Vegas Pioche NEVADA Capitalising on the USA JV Business Plan Model - NVG does the drilling 7 Property Agreements On major trends Near major mines Experienced, respected, successful partners with >20Moz discovery record km

6 WHY NEVADA? Nevada is the world leader in terms of gold production per unit area (1) Outstanding Prospectivity USA - 3 largest gold producing nation in the world (2009), 75% came from Nevada (1) RD Nevada gold production of 5Moz accounted for 7% of total world mine output (1) Production of gold in Nevada came from 20 major mining operations (>100koz pa) (1) Carlin Trend - 100Moz of gold in reserves / resources - >70Moz of past production (2) Consistently ranked in the top 5 most appealing mining jurisdictions in the world (3) 6 (1) Source: Nevada Bureau of Mines and Geology, Special Publication MI-2008 (2) Source: Economic Overview of the Nevada Mining Industry, (3) Source: Fraser Institute Annual Survey of Mining Companies 2009/2010

7 CARLIN-STYLE GOLD MINERALISATION MODEL Upper Plate siliceous rocks Lower Plate carbonate rocks target stratigraphy 25 g/t Barrick Gold Corp s Meikle deposit cross section Typical host rocks are silty limestone and limey siltstone ( carbonate rocks ) Many individual deposits >3Moz (1) - Deposits tend to cluster - >200Moz in known Carlin-style deposits (2) High grade typical in some trends especially at depth Structure control is key leading to patterns & predictability Leakage up structure to surface manifest by presence of jasperoids (silicified limestone) High arsenic (As) identifies obvious alteration cells for focus Associated antimony (Sb), mercury (Hg), thallium (Tl) +/- silver (Ag), barium (Ba) Next generation gold discoveries beneath 150m depth (1) Source: Cline et al. 2005, Carlin-Type Gold Deposits in Nevada, Econ.Geol. 100 th Anniversary Volume. (2) Source: Sillitoe, R.H., 2008, Major Gold Deposits and Belts of the North and South American Cordillera. Econ.Geol, v

8 UTAH CLIPPER PROJECT Adjacent to and along prolific NW trend from Barrick s Pipeline/Cortez deposits (>35Moz) (1) Barrick s Gold Acres mineralisation extends onto Navaho JV claims Surface Au-Ag-As-Sb-Hg anomalism along trend Shallow silver and base metal mineralisation in Upper Plate rocks at Clipper and Utah Mines Deep (>600m) drill testing scheduled for late October / early November 2011 Barrick s NEW 3.5Moz discovery on-trend 8 (1) Source: Nevada Bureau of Mines and Geology, Special Publication MI Barrick Gold Corporation 2009 Annual Report

9 UTAH CLIPPER PROJECT (Carlin-style target) Navaho s JV Claims Gold Acres 1Moz Pipeline 24Moz Cortez Hills >10Moz 9 embayment low in NVG gravity data Cortez Hills deposit 600 metres Barrick s Cortez Hills gravity signature is embayment low Ground gravity data recently acquired by NVG shows similar signature ( embayment low ) to Barrick s nearby Cortez Hills deposit (>14Moz) Au & As in Soil on gravity

10 CARLIN EAST PROJECT >2Moz 13Moz Meikle 45Moz Post-Betze Located in the 100Moz North Carlin District Along fault from Newmont s Leeville Mine Several km s E of Barrick s Post-Betze, Meikle Mines Gravity data indicates mineralised structures may trend into Navaho optioned claims Surface gold (0.2g/t) plus anomalous As-Sb-Hg-Ag Drilling of deep target/s now planned for 2012 Navaho s optioned claims >3Moz >4Moz Leeville >5Moz Carlin Meikle - Most productive U/G mine Moz Moz production - ~5Moz resources/reserves Betze-Post - Most productive pit - 0.9Moz Historic 28Moz production - ~13Moz resources/reserves 10 Source: NWMAupdate10 NBMG

11 TAZ PROJECT Battle Mt Trend >35 Moz (1) Adjacent US Gold s Gold Bar / Gold Ridge Project (PFS) Recent drill intersection (3) g/t Au is <1,500m from TAZ JV claim boundary Historic BHP drilling 1.44 g/t Au from 65m (2) Ground gravity and soil anomalies defined by Navaho Host rocks similar to Barrick s Cortez Hills-Pipeline and US Gold s deposits remain undrilled Deeper drill testing planned Sept (1) Source: Nevada Bureau of Mines and Geology, Special Publication MI Barrick Gold Corporation 2009 Annual Report (2) Source: BHP Vinini Creek Project Report, 1996 (3) Source: US Gold press release dated 13 September 2010

12 TAZ PROJECT 12

13 STEVENS BASIN & ROSE MINE PROJECTS Positioned in a well mineralised gold and silver district SE end of Battle Mountain-Eureka Trend Located near Barrick s 2+Moz Archimedes / Ruby Hill Mine (1) Drilling now underway at Rose Mine ROSE MINE PROJECT 13 (1) Source: Nevada Bureau of Mines and Geology, Special Publication MI-2009

14 ROSE MINE PROJECT Now drilling Historic drilling near outcrop edge 0.3g/t Au from 38m Anomalous surface gold 0.58 g/t Au Outcrop edge Ore grade silver in outcrop average 180 g/t (in 79 samples) up to 2,050 ppm Ag Carlin-style alteration Ground gravity & soil anomalies defined in recent Navaho work Planned drilling (~1,500m in holes) of untested potential under shallow alluvium Results expected late Oct

15 STEVENS BASIN PROJECT >700m strike gold in soil anomaly defined by Columbus Gold Corp. Jasperoid outcrop 1 to 2.5 g/t Au SB11-09 Widespread gold in rockchips >0.5g/t Au Shallow alluvial cover Initial NVG drilling program completed June RC drillholes (2,390m) 6 holes with low-grade gold Hole SB11-09 has 110m of >10ppb Au from 1.5m depth 15 Further drilling Oct holes for ~1,200m

16 WHITEHORSE FLATS PROJECT Legend # Proposed Drill holes 2011 ' Historic drillholes 'mineralised' Rockchip_Geochem Au #* -3-0 ppb #* #* #* "worms" 16 Jasperoid zone >1200m x 150m Widespread gold (up to 1.8g/t) Anomalous As-Sb-Hg Navaho ground gravity survey identifies best target under alluvium E of jasperoid Drilling scheduled late Oct 2011

17 QUEENSLAND 3 projects (100% owned) Bowen (NE coalfields) Texas (SE Queensland) Candlow (Georgetown) Large area plays 15 granted EPMs (3,735 km 2 ) 19 applications (4,311 km 2 ) Two outstanding new regional prospects delineated by Navaho stream sediment sampling and geophysical interpretation. An opportunity to define a new gold district 17

18 PROJECT TIMELINE 18

19 NAVAHO GOLD - SUMMARY Navaho is focusing on the prolific gold province of Nevada and in new districts in Queensland for Carlin-style gold deposits Nevada Drilling NOW underway in Nevada Aggressive drill testing planned in 5 remaining projects for 2011 Ongoing generative & staking initiatives Queensland Three 100% owned large-area (>8,400km 2 ) gold plays Indications of Carlin-like prospects in Bowen, Candlow & Texas projects 17g/t Au in typical Carlin-like host rocks in 2 projects >10km long multi-element anomalies in 2 projects defined from work Opportunity to discover new districts using cost-effective stream sediment surveys Strong news flow from planned drilling programs 19

20 COMPANY CONTACTS Mark Dugmore CEO Karl Schlobohm Company Secretary Ph: Ph: Brisbane Office: Level 5, 60 Edward Street, Brisbane QLD