SCIENCE DISCOVERY GROWTH Investor Presentation Miga Arc Western Victoria s newly emerging copper belt 23 October 2013
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Miga Arc Victoria s new emerging copper belt SE Australia s main volcanic terranes and their present identified metal endowments Miga Arc now recognised as an Andean-style volcanic arc concealed below recent thin cover and remains under-explored Miga Arc comparable to widely explored Macquarie Arc Rocks are similar in age & type to Mt Read Volcanics of Tasmania, host to Mt Lyell & Rosebery Mines Volcanic arc systems world-wide host porphyry copper, VHMS, epithermal base metal and gold deposits Approx. location of seismic section shown in next slide
Miga Arc New seismic data show copper & gold opportunities in western Victoria Andes Volcanic Range, South America South American plate S Pacific plate N W ~ 500 million years ago E W Present day Western Victoria E Arcs form above subduction zones at plate boundaries (eg. Andes, Indonesia) Most arcs contain giant porphyry copper deposits Miga Arc seismic survey interpretation, after Cayley et al, 2013 (in prog.)
Cu-Porphyry Exploration Targets 1 >500Mt tonnes 0.3 2 % copper 0.2 2 g/t gold Porphyry copper deposits are large, low-grade, bulk-mined deposits Largest are 1.5 3 billion tonnes @ 0.7-2% copper Usually associated with gold and/or molybdenum Cadia Hill Porphyry Cu-Au Mine, central NSW 1 Refer to slide 2 Exploration Targets are conceptual in nature, where there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.
Western Victoria Cu Project Dominant land position - 130kms volcanic belt, 1,270km² tenure* 4 Cu-porphyry prospects drill-confirmed - Eclipse, Lexington, Pollockdale & Glenlyleˠ 50 targets generated for testing High grade intercepts shallow at Eclipse: 15m @ 0.7% Cu, 1.9% Zn, 0.8g Au/t (RC92GM52) 13m @ 0.7% Cu, 0.2g Au/t, inc. 2m @ 2.2% Cu (RC92GM55) 2m @ 3.0% Cu, 2.0g Au/t (RC93GM65) >276m of zinc + gold + pyrite hydrothermal alteration (DD10BR001) is evidence of scale and proximity to Cu-porphyry core at Eclipse * Includes new Glenlyle exploration application area of 61km² ˠ Glenlyle ELA subject to government approval
Our view Miga Arc: newly recognised continental margin arc setting like South America s Andes, host to the world s largest known copper porphyry systems emerging Cu-Au porphyry province potential for discovery of giant deposits comparable with Macquarie Arc (host to Cadia Mine) and Mt Read Volcanics (host to Mt Lyell Mine) independent Navarre and GSV* studies (inc. rock/ alteration) suggest proximity to Cu mineral deposits * Geological Survey of Victoria
Our proposed work program Testing the porphyry copper and gold potential Complete soil geochemistry Complete spectral studies Conduct IP geophysical surveys 2 x 700 metre deep diamond drill holes at Eclipse (Phase 1) Reconnaissance drilling at Lexington, Pollockdale & Glenlyle Phase 2 drilling of IP, geochemical and structural targets
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