Annual General Meeting 27 November Ziggy Lubieniecki Exploration Manager

Transcription

1 Annual General Meeting 27 November 2008 Ziggy Lubieniecki Exploration Manager

2 DISCLAIMER The purpose of this presentation is to provide general infor mation about Eleckra Mines Limited ( the "Company"). Unless otherwise stated herein, the infor mation in this presentation is based on the Company's own information and estimates. This presentation does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company. This presentation does not take into account the individual investment objectives, financial situation and particular needs of each Eleckra Mines Limited Shareholder. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Certain statements in the presentation are or may be forward-looking statements and represent the Company s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company s future performance. These forward looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company s actual per formance and results in future periods to differ materially from any express or implied estimates or projections. It is recognised that it is common practice for a company to comment on and discuss its exploration in terms of target size and type. All statements contained in this presentation by the Company which refer to the potential quantity and grade of the target is accompanied by a detailed explanation of the basis for the statement. The potential quantity and grade for the target is conceptual in nature and, there has been insufficient exploration to define a mineral resource and it is uncer tain if further exploration will result in the determination of a mineral resource. No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any infor mation in this presentation or any error or omission therefrom. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. This presentation is not for distribution or transmission in or into, nor does it constitute an offer of securities for sale in, the United States, Canada, Japan, or in any jurisdiction where such distribution or offer is unlawful. The distribution of this presentation in other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions.

3 Overview Gold and uranium explorer with established resource base: Large strategic land holding ~5,000km² Controls majority of under-explored Yamarna greenstone belt Gold resource: 749,000oz Au (13.1mt at 1.78g/t Au) Uranium resource: 6.2 millions lbs U 3 O 8 (16.1mt at 174ppm) Controls majority of under-explored Yamarna greenstone belt Tenements north of AngloGold s Tropicana project BUT also highly prospective for Fe, Cr, Ni, Cu, PGE Yamarna Pastoral Lease and Yamarna Camp

4 Yamarna Belt Prospectivity Strategic control of under explored Yamarna greenstone belt in Yilgarn Craton Yilgarn Craton hosts world-class gold orebodies and produces over half of Australia s gold Contains calcrete uranium prospects Potential for multi-million ounce gold camp Prospective for Au, U, Fe, Cr, Cu, Ni

5 Yamarna Prospects Range of early stage to advanced exploration targets Multi commodity strateg Gold, uranium, iron, nickel-copper (Yamarna komatiites/mt Venn Layered Complex) and chromite

6 Highlights Last 12 Months Drilling THREE DRILLING PROGRAMS: July 2007: SRC Renegade (Au), Chromite prospects (Cr) RAB/AC Wanderrie (Au, Ni) Nov 2007: AC Thatcher Soak (U) May 2008: AC Thatcher Soak (U), Mt Venn East (U) RAB Elvis (Au), Augusta (Au) Best SRC intersections 1m at 6.14g/t Au from 55m at Renegade Best RAB/AC intersections 2m at 0.55g/t from 45m, and 4m at 0.20g/t Au at Wanderrie 4m at 2.00g/t Au from 0m at Elvis (2km long Au-Cu anomaly) 2m at 0.41g/t Au from 44m, 26m at 0.18g/t Au from 46m and 23m at 0.26g/t Au at Augusta (4.8km long anomaly)

7 Yamarna Gold Resource At 0.5 g/t Au Cut off 2008 Resource Resource Category Tonnes Au Grade (g/t) Contained Au (Troy Oz) Measured Resource 6,449, ,000 Indicated Resource 6,251, ,000 Inferred Resource 7,117, ,000 Total 19,817, ,000 At 1.0 g/t Au Cut off 2008 Resource Resource Category Tonnes Au Grade (g/t) Contained Au (Troy Oz) Measured Resource 5,027, ,000 Indicated Resource 3,745, ,000 Inferred Resource 4,356, ,000 Total 13,128, ,000

8 Yamarna Gold Resource Resources within 17km strike length of 180km long Yamarna shear zone Large gaps in drill coverage Potential for strike extensions Over half of strike length untested Metallurgical Testwork indicated good gold recoveries from 87.3% to 98.0% Updated Resource announced 1 January 2008 Geology and blocks with grades > 0.5g/t Au

9 Yamarna Gold Optimisation Sensitivity to Gold Price $450,000, ,000 $400,000, ,000 $350,000, ,000 $300,000, ,000 ($A) $250,000,000 $200,000, , , ,000 Recovered Gold (oz) $150,000, ,000 $100,000, ,000 $50,000,000 50,000 $ ,100 1,500 2,000 2,500 0 Net Cashflow Pre Cap (A$) $3,179,197 $12,588,389 $72,400,709 $195,294,012 $393,771,394 Operating Costs ( A$/oz) Recovered Gold ( oz) 16,598 60, , , ,220 Gold Price ($A)

10 Golden Sands Project ~1,500km² of new granted tenements between Yamarna and Anglogold s Tropicana gold deposits Regional aeromagnetic survey and reconnaissance geochemical sampling planned in 2009 Targeting extensions of Yamarna shear zones beneath sand cover

11 Thatcher Soak First Pass Drilling Program November 2007 Eleckra completes first systematic round of aircore drilling at 100% owned Thatcher Soak uranium project in Nov 2007 totalling 4,800m Down hole gamma probe logging returns elevated eu 3 O 8 values over an extensive area Eleckra s Thatcher Soak mineralised envelope as defined by 100ppm eu 3 O 8 cut off and minimum thickness of 0.2m is approx: Area 7km 2 Length and width Thatcher Soak 7km NS x 1.5km EW Length and width Thatcher Soak North 3km NS x 0.5km EW Thickness 0.2m 2.8m (average 0.8m) Depth Zone 1: 0m 6 m Zone 2: 6m 14m Best intercepts include 2.0m at 808 eu 3 O 8 and 2.2m at 758 eu 3 O 8

12 Thatcher Soak Second Pass Drilling Program May 2008 Eleckra completes second systematic round of aircore drilling in May 2008 totalling 2,100m Best intercepts include: 1.54m at 1,329ppm eu3o8 1.58m at 407ppm eu3o8 1.62m at 402ppm eu3o8 1.86m at 558ppm eu3o8 1.01m at 471ppm eu3o8 0.84m at 415ppm eu3o8

13 Thatcher Soak Drilling

14 Thatcher Soak Resource 16.1 million tonnes averaging 174ppm U 3 O 8 for 6.2 million pounds of contained U 3 O 8 (or approximately 2,800 tonnes contained U 3 O 8 ) using a 100ppm U 3 O 8 cut-off

15 Yamarna Chromite Significant Chromite intersections from Eleckra drilling include: 6m at 32.9% Cr 2 O 3 from 22m 21m at 23.2% Cr 2 O 3 from 25m 1m at 35.7% Cr 2 O 3 from 55m 12m at 23.8% Cr 2 O 3 from 22m Holes were drilled along 500m strike length Mineralisation is within a 40m 50m wide chromite rich ultramafic unit Aeromagnetics indicate other prospective ultramafic units may occur over 50km strike length Further assessment of economic potential planned

16 Yamarna Chromite

17 Yamarna Nickel An assessment of the economic potential of the Yamarna chromite and nickel targets over >80km long ultramafic komatiites has been initiated Within the area of the Mt Venn Layered Intrusion, two approximately 10km long magnetic features, one associated with copper / nickel bearing pyroxenite and another one with vanadium magnetite, have been recognised within Eleckra s tenements.

18 Yamarna Iron Exploration Eleckra has identified extensive banded iron formation at Yamarna which will be evaluated for its iron ore potential Aero-magnetic signatures suggest a banded iron formation extends over 80km within Eleckra s Yamarna tenements Inspection of the available outcrops indicated the presence of strongly magnetic 1m to 40m wide magnetite banded iron formation The historical data investigation suggested that very few drill-holes, mostly shallow RAB, targeted the iron formation and none were assayed for iron as the main exploration objective was for gold Hole, EYRC0058, intercepted approximately 30% Fe over 25m Eleckra intends to carry out a first pass drilling program to assess the iron ore potential at Yamarna Location of Banded Iron Formation at Yamarna

19 Yamarna Iron Exploration Sample East GDA94 North GDA94 Fe % Al 2 O 3 % LOI % P % S % SiO 2 % ,460 6,882, ,475 6,882, ,536 6,881, ,345 6,880, ,747 6,881, ,840 6,881, ,325 6,881, ,267 6,882, ,467 6,882, ,140 6,882, ,561 6,884, ,341 6,884, ,994 6,888, ,658 6,888, ,683 6,892, ,353 6,906, ,340 6,906, Yamarna Iron Project BIF Outcrop samples analysed by XRF (Fus / XRFm)

20 Yamarna Iron Exploration

21 South West WA Projects DARKAN 60km south east of the 28moz Au Boddington mine Covers 35km strike length of Darkan fault zone Further roadside geochemical sampling this year located weak gold-copper anomalism across trace of fault Potential for significant mineralisation was considered to be low Tenement surrendered DINNINUP 60km south of Darkan Multi-element anomalism from Government laterite sampling Right to farm in to a 90% interest in 250km² exploration license application by spending $500,000 Roadside geochemical sampling this year located weak gold-copper anomalism Potential for significant mineralisation was considered to be low Withdrawal from farmin agreement

22 Kitty O Shea North Queensland Located in Charters Towers district Compilation of previous exploration and field visit completed Potential for significant mineralisation was considered to be low Tenement surrendered

23 Outlook Progress multi-commodity strategy at Yamarna Gold exploration continue work at Elvis, Dorothy Hills, Jutson Rocks. Commence work at Golden Sands Scoping studies of uranium deposit at Thatcher Soak Advance nickel exploration along 80km-long komatiites and Mt Venn South Further drilling to outline chromite lenses Explore other uranium targets in our tenements: Lake Rason and Lake Wells Advance iron exploration Pursue new projects to enhance Eleckra s portfolio Pursue farm-outs to accelerate exploration where applicable

24 Thank you for your time

25 COMPETENT PERSONS STATEMENT The information in this presentation which relates to Exploration Results, or Mineral Resources is based on information compiled by Ziggy Lubieniecki, the Exploration Manager of Eleckra Mines Limited, who is a Member of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Ziggy Lubieniecki has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration 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. Ziggy Lubieniecki consents to the inclusion in the report of the matters based on this information in the form and context in which it appears. The information in this presentation which relate to the Yamarna Gold Project Mineral Resource estimates are based on geostatistical modelling by Ravensgate using sample information and geological interpretation supplied by Eleckra Mines Limited. The Mineral Resource estimates were undertaken by Stephen Hyland, a principal Consultant of Ravensgate. Mr Stephen Hyland is a Members of the Australasian Institute of Mining and Metallurgy and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are 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. Stephen Hyland consents to the inclusion in the report of the matters based on this information in the form and context in which it appears. The information in this presentation that relates to open pit optimisation for the Yamarna Gold Project is based on information compiled by Mr Ross Cheyne, a full time employee with Orelogy (Mining Consultants). Mr Cheyne is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity 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. Mr Cheyne consents to the inclusion of the matters based on his information in the form and context in which it appears in this report. The information in this presentation which relate to the Uranium Mineral Resource estimates are based on geostatistical modelling by Coffey Mining Pty Ltd using sample information and geological interpretation supplied by Eleckra Mines Limited. The Mineral Resource estimates were undertaken by Hilary Wright, a Senior Resource Geologist and Neil Inwood, a Special Resource Geologist. Mr Inwood is the competent person responsible for the Resource and is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken 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. Mr Inwood consents to the inclusion in the report of the matters based on this information in the for m and context in which it appears. * Uranium mineralisation grades in this presentation annotated with a sub-prefix e have been reported as uranium equivalent grades derived from down hole gamma ray logging results and should be regarded as approximations only. Gamma logging or total count gamma logging is a common method used to estimate uranium grade where radiation contribution from thorium and potassium is very small. Sandstone and calcrete hosted deposits are usually of this type. Gamma logging does not account for energy derived from thorium and potassium and thus the result is expressed as an equivalent value or eu3o8. The contractor used by Eleckra Mines Limited to conduct the down hole gamma log advised Eleckra that it used gamma probe Auslog A075 Total Count Gamma Probe with serial number S939 that was calibrated within the last 12 months at the Department of Water, Land and Biodiversity Conservation (Adelaide, South Australia) test pits that have been constructed under supervision of the CSIRO, to provide for the calibration of radiometric tools. Most probe calibrations in Australia are carried out at this facility.