Drake Strategy. Presented by Jason Stirbinskis, CEO

Transcription

1 Drake Strategy Presented by Jason Stirbinskis, CEO March 2013

2 2 Disclaimer and Competent persons statement This presentation has been prepared to provide information on Drake Resources Limited s projects. It is not intended as an offer, invitation solicitation or recommendation with respect to the purchase or sale of any securities. This presentation should not be relied upon as the sole representation of any matter that a potential investor should consider in evaluating Drake. Its affiliates or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained in this presentation, and they do not accept any liability for any statement made in, or omitted from, this presentation. Prospective investors should make their own independent evaluation of an investment in the Company. Dr Robert Beeson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking. This qualifies Dr Beeson as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Robert Beeson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Dr Beeson is a member of the Australian Institute of Geoscientists.

3 Corporate Overview Capital Structure ASX Code DRK Shares on issue 104M Market Cap n $9.2M Price (14/3/13) $0.09 Options 10M Board & Senior Mgt Brett Fraser N.E. Chairman Jason Stirbinskis C.E.O James Merrillees Exec Director Bob Beeson N.E. Director John Hoon N.E. Director Jay Stephenson N.E.D & CS Offices Registered Office 66 Kings Park Road WEST PERTH WA 6005 AUSTRALIA Melbourne Office Prospect Street BOX HILL VIC 3128 AUSTRALIA Sweden Berghauptmansgatan 58 B SE FALUN SWEDEN Sweden Granmuren - Nickel Lainejaur - Nickel Bergslagen JV Copper/gold Orsen Copper/Magnetite Assets Norway Espedalen - Nickel Hosanger Nickel Joma Copper-Zinc Lokken & Sulitjelma JV Copper Nordgruva JV - Copper Kautokeino & Karasjok Gold Finland Kittila Gold Vihanti - Copper West Africa Gold Tasiast South Hendrix Shear Samekouta Seimana Australia Gold Mt Palmer Mallee Hen 3

4 Strategy Drivers Diversified portfolio Market sentiment Recent success Momentum Commodities Jurisdictions Commodities Jurisdictions Granmuren Guinea, Tasiast South Europe, Nickel assets Path forward Tighter regional focus Tighter commodity focus Prioritised portfolio Broader market focus Scandinavia Nickel & copper Granmuren now Espedalen now plus others 2014 Europe Strategic funding options

5 Scandinavia Region Low sovereign risk; robust, manageable mining laws Extensive infrastructure, downstream industry Pragmatic environmental regime Industry Significant mining region for 100s years Finland #1 location for Mining* (Sweden #2) Production includes Au, Ag, Ni, Cu, Co, Fe, Ti Very experienced & large employment pool Larger nickel producer than Australia Australian presence - Altona, Avalon, Mawson Tasman, Dragon Major players - First Quantum, Norilsk Xstrata, Anglo America * Fraser Institute Global Mining Survey 2012/2013 Suurikuusikko Gold Mine ~ 7Moz Gold

6 Scandinavian Nickel Region Significant established and growing industry Smelters and refineries Three nickel provinces Voisey s Bay includes Drake s Espedalen & Hosanger Karelia province large northern projects Svecofennian province includes Drake s Granmuren

7 Drake Scandinavian Nickel Projects Granmuren Sweden 100% Drake Espedalen - Norway 100% Drake Hosanger Norway 100% Drake Lainejaur Sweden 100% Drake Granmuren Discovery Nickel, Copper, Cobalt Mineralisation from near surface Voisey s Bay style Proterozoic intrusive Similar style to FQML s Kevitsa mine Excellent Infrastructure Drake assets near Granmuren Granmuren Hole #006

8 Drake Scandinavian Nickel Granmuren results Multiple EM conductors Long intercepts of low grade sulphides - (115m (cumulative) above 0.25% Ni in TS 007) Higher grade intercepts at depth Open laterally & at depth

9 Drake Scandinavian Nickel Espedalen Region 100% Drake Analogous to Voisey s Bay deposit Shallow mineralisation across multiple sites Excellent infrastructure 400km to nickel refinery at Kristiansand Multiple sites/targets

10 Drake Scandinavian Nickel Espedalen Results Report (Dalen/Stormyra) 10 more prospects with >5m% nickel in drill sections Geophysics anomalies Outcropping ~1% nickel not drill tested Conc* - ~15% Ni, 5.3% Cu; 75-79% recovery (*Lakefield test results 1970s) Megrund Planned activity 2013 Historical results include 0.57% Ni, 0.24% Cu 1.0% Ni, 0.23% Cu 0.31% Ni, 0.12% Cu

11 Drake Scandinavian Copper Sweden, Finland Orsen Sweden 100% Drake 1 Bergslagen Sweden 49% Drake Vihanti Finland 100% Drake 1 Primarily magnetite with copper Norway Joma, Gjersvik Norway 100% Drake 2 Lokken Norway Panoramic JV 3 Nordgruva Norway Panoramic JV 3 Sulitjelma Norway Panoramic JV 3 2 Drake can earn up to 100% 3 Panoramic can earn up to 70% Joma- Gjersvik Joma, Gjersvik Joma historic production - Cu, 1.45% Zn Gjersvik historic production %Ni, 0.6% Zn Joma mine not exhausted AIRBORNE MAGNETIC SURVEY BOUNDARY Multiple geophysics targets

12 Drake Scandinavian Gold Region Greenstone belt, world class deposits eg Suurikuusikko 4g/t Au) Kalgoorlie/Kambalda comparison (40 years ago!) Petajaselka Drake Gold Sites ~600km 2 Kautokeino Regional stream gold anomalies Karasjok Regional stream gold anomalies Petajaselka/Palolaki (partly GTK tender) m@ 2.53g/t Au in R m@ 2.27g/t Au in R m@ 3.07g/t Au in R432 - Untested targets, 10km strike Pikka Mustavaara/Ahvenjarvi 48g/t Au 5g/t Au 5.1g/t Au Loukinen Altered Komatiite shear 0.47g/t Au 8.51g/t Au 0.53% Cu Konikuusikko High till anomaly

13 Drake West Africa Mauritania Tasiast South Mauritania ~3600km 2 100% Drake Southern extension- Tasiast greenstone belt Belt hosts Tasiast Mine 21Moz Au 10km² Ghassariat Prospect defined Hendrix Shear - Mauritania 100% Drake High grade gold up to 437g/t Au 57g/t Au 5.2g/t Au Guinea and Senegal Seimana Guinea 100% Drake Strong Soil anomalies 20 samples above 0.25g/t Au Samekouta Senegal 100% Drake Area of Birrimian Greenstone Bountiful Kenieba inlier Seimana soil sampling results

14 Drake Strategy and Funding Asset Accumulation Critical portfolio development Early exploration / investigations Regional and commodity spread Benefits Realisation, value creation Prioritised portfolio Granmuren, Espedalen 2013 Joma and others 2014 Multidiscipline evaluation Geology, Met, Engineering Regional focus and development options Commodity focus Now West Africa - options Granmuren and Espedalen investigations European markets?