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CULLEN RESOURCES LIMITED — Investor Presentation 2013
Apr 9, 2013
64724_rns_2013-04-09_68203071-1a47-4c48-8802-d42cfc330c14.pdf
Investor Presentation
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INVESTOR UPDATE – APRIL 2013
HUNTING FOR Ni SULPHIDES MT EUREKA , PROJECT , NE GOLDFIELDS WA
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“AK47” NICKEL PROSPECT CORE
DISCLAIMER
IMPORTANT NOTICE
This presentation has been prepared by Cullen Resources Limited ACN 006 045 790 (Cullen) for general information purposes only. The presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities in Cullen, or as an i n d ucement to ma k e an o ff er or i nv tat on i i w t i h respect to t h ose secur t es. i i N o agreement to subscribe for securities in Cullen will be entered into on the basis of this presentation. Thi s presen a t ti on may con a n t i cer a n t i f orwar d - oo l ki ng s a emen s t t t w hi c h h ave no t b een based solely on historical facts but rather on Cullen's current expectations about future events and on a number of assumptions which are subject to significant uncertainties and contingencies many of which are outside the control on Cullen and its directors, officers and a d v sers. i D ue care an d a tt en ti on h as b een t a k en i n th e prepara ti on o f thi s presentation. However, the information contained in this presentation (other than as specifically stated) has not been independently verified for Cullen or its directors and officers, nor has it been audited. Accordingly, the company does not warrant or represent th a t th e i n orma f ti on con a ne t i d i n thi s presen a t ti on i s accura e t or comp e e. l t T o th e f u ll es t extent permitted by law, no liability, however arising, will be accepted by Cullen or its directors, officers or advisers, for the fairness, accuracy or completeness of the information contained in the presentation.
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INVESTOR UPDATE – APRIL 2013
CUL : ASX - EXPLORATION COMPANY NOW FOCUSED ON SEARCH FOR NICKEL SULPHIDE DEPOSITS, MT EUREKA PROJECT , NE GOLDFIELDS WA MT EUREKA PROJECT ALONG STRIKE OF RECENT DISCOVERY OF NICKEL SULPHIDES AT CAMELWOOD, BY ROX RESOURCES LIMITED, (RXL:ASX) , LOCATED ABOUT THREE KILOMETRES SOUTH OF CULLEN’S TENEMENT BOUNDARY
EXPLORATION POTENTIAL OF CULLEN’S MAJOR GROUND POSITION AT MT EUREKA ENHANCED
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CULLEN’S FUNDAMENTALS ASX:CUL Experienced Board and Management
Number of shares : 818M Unlisted options : 22M (6-13c) C as h ~ $1 . 4M (31/12/12) Market Cap: ~ $18M (@ 2.2c) Top 20 : ~47%
Dr Denis Clarke - Chairman Dr Chris Ringrose - MD Mr raG hame amH ilton - Non xecE Mr John Horsburgh - Non Exec Mr Wayne Kernaghan - Co Sec
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Major Shareholders – Aquila (12.81%); AMCI (6.22%); Directors (5.27%); Wythenshawe (11.52%)
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RECENT INTEREST IN CULLEN ASX: CUL
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Discovery by Rox (Dec 2012) at Camelwood (next door to Mt Eureka) increases share prices of ROX and CUL
CUL
RXL
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0.040
0.110
0.036
0.090
0 032.
0.070
0.028
0.050 0.024
0 020.
0 030.
April June Aug Oct Dec Feb Apr
2012 2012 2012 2012 2012 2013 2013
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MT EUREKA PROJECT
~40 strike km of ultramafics adjoining and north of Camelwood nickel sulphides discovery at Fisher East by Rox (ASX:RXL) RECENT WORK b CULLEN: y • DATABASE REVIEW • VTEM SURVEY • FIELD CHECKING AND PROSPECTING • APPOINTED EXPERT CONSULTANTS IN NICKEL (Omni GeoX)
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Mt Eureka Project
Airborne EM Conductor and/or Ni prospects (Cullen)
VTEM Conductor (Rox Resources) Limit of previous Airborne EM surveying Cullen project
“AK47” prospect 0.2m @ 1.93% Ni
11m @ 0.86% Ni (40 - 51m)
New target area ~10 km strike for VTEM survey first step
Camelwood 20m @ 1.1% Ni (Rox Resources)
N 5 kilometres
JANUARY 2013
Ultramafic Belts
Aeromagnetic Image
AK47 PROSPECT - 20cm @ 1.93 % Ni, 0.42% Cu, 0.7 g/t Pt+Pd
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MASSIVE SULPHIDE – POSSIBLY REMOBILIZED FROM BASAL KOMATIITE
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VTEM data around Camelwood (RXL)
BEST INTERSECTIONS AT CAMELWOOD –
CULLEN GROUND
-
11 . 4m @ 2 . 9% Ni and 1.2m @ 5.2% Ni RXL : A S X r e l eases
-
( 4/3/2013 and 4/4/2013)
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ONE RC DRILL HOLE AT SILVERBARK REPORTED BY RXL – RETURNED PYRITIC SEDIMENTS AND MAGNETIC BIF
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ROX’ GROUND EM RESULTS
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Mt Eureka Project Geology
TAIPAN
Gold prospect
Ultramafics
Target stratigraphic
package (~10km)
prospective for
nickel sulphides
VTEM Survey
Silverbark
Camelwood
VTEM conductors 20m @ 1 1% Ni.
(Rox Resources)
Corktree
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CULLEN VTEM SURVEY RESULTS
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VTEM SURVEY CONDUCTORS (on AIRMAG IMAGE) + PROPOSED GROUND EM SURVEY LINES
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(on AIRMAG
IMAGE) + PROPOSED
GROUND EM
SURVEY LINES
CONDUCTORS
2 [ND ORDER]
1 [ST ORDER]
5 kilometres
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VTEM RESULTS 1 km VTEM SURVEY CONDUCTORS on AIRMAG INTERPRETATION CONDUCTORS 2[ND ORDER] Central 1[ST][ORDER] SE Legend: pink/granite-gneiss; - blue/BIF chert; green/mafic; purple/ultramafics; hatchuring/granite at SW s h a ll ow dep th ; ye ll ow/ f e l s i c metasediments; olive/assimilated greenstone
INSUFFICIENT GEOCHEMICAL 1 km SAMPLING IN AREAS OF HIGH PRIORITY VTEM CONDUCTORS - SOME TRAVERSES BY TENNECO - (1973) SHALLOW DRILL SAMPLING ~~Centr~~ al (1- 4M) ~~SE~~ CONDUCTORS 2[ND ORDER] SW 1[ST ORDER]
INSUFFICIENT GEOCHEMICAL 1 km SAMPLING IN AREAS OF HIGH PRIORITY VTEM CONDUCTORS - SOME TRAVERSES BY TENNECO - (1973) SHALLOW DRILL SAMPLING (1- 4M) Central SE TENNECO 7300 ppm Ni SHALLOW SW DRILL SAMPLE ASSAY > 5007300 ppm Ni
CULLEN VTEM CONDUCTORS - SE
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AT OUTCROP :
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AT OUTCROP : • MAGNETIC CHERT AND BIF RIDGE • FELSIC METASEDIMENTS (TO EAST OF RIDGE) • SOME THIN ULTRAMAFICS (TO WEST) IN MAFIC SEQUENCE Sample of “Gossan” from VTEM conductor – assay awaited
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awaited
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CULLEN VTEM CONDUCTORS – SW
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CO ND UC T O R TREND :
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IN PART COINCIDENT WITH MAJOR QUARTZ “BLOW” – POSSIBLY ALONG FAULT OR CONTACT; AND,
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“PARTIALLY ASSIMILATED GREENSTONE” - INTERPRETED (FROM AIRMAG)
CULLEN VTEM RESULTS - central
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GOLD TARGET TREND
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Rock chip gold anomalies
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Quartz veined BIF/chert
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VTEM conductors coincident with chert trend and faulting
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MT EUREKA PROJECT – next steps
SEVEN TRENDS/CONDUCTORS RECOMMENDED
FOR GROUND EM FOLLOW-UP
FURTHER FIELD REVIEW TO COMMENCE THIS WEEK
(BY Omni GeoX ) TO ASSIST NICKEL SULPHIDE TARGET PRIORITISATION
- ASSAYS FROM PROSPECTING SAMPLES TO ASSIST
GROUND EM PRIORITISATION
DRILL TARGETS SELECTED FOLLOWING GROUND EM
-
HERITAGE SURVEYING AND POW APPROVALS
-
DRILLING TO COMMENCE ASAP THEREAFTER
Attribution - Competent Person Statements
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The information in this report that relates to Exploration Results is based on information com p iled b y Dr Chris Rin g rose, Mana g in g Director, Cullen Resources Limited who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Ringrose is a full time employee of Cullen Resources Limited. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken , to qualify as a Competent Person as defined by the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Ringrose consents to the report being iss u ed in the form and conte x t in w hich it appears .
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