GEOTECH: Airborne Geophysics and Its Possible Application in Bulgaria. Prof. Alexander Antonov, Canada

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1 GEOTECH: Airborne Geophysics and Its Possible Application in Bulgaria Prof. Alexander Antonov, Canada

2 Geotech overview Geotech Ltd is a global leader in airborne geophysical survey, mapping, interpretation and analysis Every year, more than $2 million invested in research and development Geotech services: mining metals and minerals, oil and gas, groundwater in more than 100 countries Industrial Services Worldwide LP (ISW) represents Geotech in SE Europe

3 Airborne Geophysics Important Instrument for Increasing Mineral Resources in Bulgaria Difficult times in mining industry: low metals prices & falling demand A need in innovative exploration technologies Airborne Geophysics as an effective tool in accelerating of new discoveries MINEX Europe 2015: Bulgaria is the country with substantial exploration potential and favourable investment climate

4 Source: Favourability of Mining Legislation Highly positive Positive Neutral Negative Highly negative

5 Source: Availability of Land for Exploration Very good Good Neutral Poor

6 Source: Quality and Access to Infrastructure (Transport, Utilities) Very good Good Neutral Poor Very poor

7 Source: Geological Prospectivity Very good Good Neutral Poor

8 Operation in global scale 20 fixed wing aircraft and helicopters Offices in Australia, Brazil, Barbados, Ghana and South Africa Strategic alliances in Chile, Kazakhstan and Russia Successfully performed projects in North and South Americas, Africa, Europe, Asia, Australia and Fiji

9 Services VTEM Versatile Time domain Electromagnetic System ZTEM Z axis Tipper Electromagnetic System Magnetics Radiomagnetics Gravity

10 VTEM (Versatile Time Domain Electromagnetic) System Benefits: Greater depth perception and higher resolution as a result of high quality signal tonoise levels Customisation based on terrain and desired penetration depth because of multiple loop sizes Adjustable power/signal with dipole moments Ability to energise strong conductors and explore more deeply

11 ZTEM (Z Tipper Axis Electromagnetic) System Geotech s exclusive ZTEM system leverages the Earth s natural fields from global thunderstorm activity. Ideal for mapping deeply buried, porphyry hosted and structurally controlled targets Benefits Wide frequency range, with low frequencies allowing penetration through deep or conductive cover Superior exploration depth exceeding 2,000 metres

12 Magnetic (Helicopter) Sensor towed magnetics, towed gradiometers and stingers Three axis airborne magnetic gradiometer: exploration for gold, silver, platinum group, diamonds, and mapping geologic and manmade structures

13 Gravity Benefits Precise measurements Reliable performance in high turbulence In field quality control Onshore and offshore gravity surveys

14 Successfully Completed Projects Recent Examples of Large Scale Regional Airborne Geophysical Surveys by Geotech: 2013: European Union Funded Survey over the Iullemeden Basin in Niger ( km). 2014: World Bank Funded Survey over Lupa Goldfield and Singida Handeni Corridor in Tanzania ( km) 2014: Survey for the Ministry of Mines and Energy Geological Survey in Namibia ( km) 2015: World Bank Funded Survey and Capacity Building Project of the Mining Sector Precasem in Cameroon ( km) 2015: World Bank Funded Survey in Burkina Faso ( km) Useful examples for Bulgaria: Pebble copper porphyry deposits (Alaska,USA) First Quantum Minerals Ltd. (Panama)

15 Pebble copper porphyry deposits

16 Pebble copper porphyry deposits Highlights: One of the largest copper porphyry deposits, 5.1 billion tonnes resources at 0.43% Cu, 0.35g/t Au and 0.026% Mo Pebble West and Pebble East Zones, discovered in 1986 and in 2005 Mineralisation within and around small granodioritic stocks

17 Pebble copper porphyry deposits The deposits of Pebble Mine

18 Pebble copper porphyry deposits 2D Resistivity cross section over center of Pebble porphyry deposit from Zvert2d inversion of ZTEM In line (Z/X) tipper data

19 Pebble copper porphyry deposits ZTEM Tipper AFMAG field results

20 Pebble copper porphyry deposits ZTEM Survey Results Pebble West is a shallower, more resistive body consistent with the K silicate alteration Pebble East is defined as a deeper resistivity low consistent with its stronger argillisation. East Zone appears to extend below 1km 2D sections for lines further north suggest even deeper vertical extents to Pebble East and West

21 Cobre Panama Geotech for First Quantum Minerals Ltd.

22 Cobre Panama Soil Anomalies Copper Molybdenum

23 Cobre Panama Exploration Targets 2010

24 Cobre Panama ZTEM Survey Decision taken to fly EM in order to cover difficult terrain rapidly Geotech Ltd mobed to site late August 2010 Concession covered on 300m line spacing with Magnetics and ZTEM

25 Cobre Panama ZTEM Results System appears to be mapping near surface sulphides Large untested anomaly northwest of Cuatra Crestas prospect Deep response also present at known deep sulphides at Botija

26 Cobre Panama Reduced to Pole Magnetics 1995 and 2010 surveys show similar patterns Andesite highs Balboa is a positive magnetic anomaly

27 Cobre Panama 4 Holes on 400m Step outs Were Proposed

28 Cobre Panama Resource Drilling By December 2010 it was evident a significant discovery had been made Over the next 18 months 94 holes were drilled on 100 metre centres to depths of up to 700m

29 Cobre Panama Section Viewing NE

30 Cobre Panama. Conclusions Total of 10 Priority 1 and 33 Priority 2 VTEM anomalies identified A significant porphyry copper deposit was discovered beneath cover at Cobre Panama after many exploration and drilling campaigns ZTEM appears to map sulphide deposits in the environment Cobre Panama Conventional soil sampling failed to clearly identify Balboa Magnetics provided an unexpected signature

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