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PRODIGY GOLD NL — AGM Information 2007
Nov 19, 2007
65615_rns_2007-11-19_2b73b9fc-c054-4985-82de-aa6dc9335b40.pdf
AGM Information
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20 November 2007
ASX CODE: ABU
The Announcements Office Australian Stock Exchange Ltd Level 3, 20 Bridge Street SYDNEY NSW 2000
By ASX Online Transmission
Dear Sir,
Please find attached the Power Point Presentation which will be presented at the meeting of shareholders to be held today at 10 am (WST) at BDO Kendalls Audit & Assurance (WA).
Yours faithfully
Jutta Zimmermann Company Secretary
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AGM Presentation November 2007
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DISCLAIMER
This presentation has been prepared by ABM Resources NL (“ABM” or the “Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.
This presentation contains forecasts and forward looking information. Such forecasts and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. ABM has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by applicable laws, ABM makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission, from any information, statement or opinion contained in this presentation.
You should not act or refrain from acting in reliance on this presentation material. This overview of ABM does not purport to be all inclusive or contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You should conduct your own
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CONTENTS
- ERAYINIA: CONCEPTUAL DIAGRAM OF A VMS SYSTEM 12. ERAYINIA: AEROMAGNETIC MAP 13. ERAYINIA: AEROMAGNETIC MAP 14. ERAYINIA: PROJECT GEOLOGY 15. ERAYINIA: INTERPRETED GEOLOGY 16. ERAYINIA: RC DRILL SAMPLES 17. ERAYINIA: DD DRILL SAMPLES 18. GASCOYNE BASEMETAL PROJECT 19. WORLD GDP PER CAPITA 20. SUMMARY
| 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. |
CORPORATE STRUCTURE BOARD AND KEY MANAGEMENT ABM OBJECTIVES EXPLORATION BUDGET 2007/08 ERAYINIA: PROJECT LOCATION ERAYINIA: PROJECT OVERVIEW ERAYINIA: KING PROSPECT (E1) KING: BASE METAL INTERSECTIONS ERAYINIA: KING PROSPECT (E1) LONGITUDINAL SECTION ERAYINIA: OTHER PROSPECTS |
|---|---|
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CORPORATE STRUCTURE
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0.25
0.20
0.15
0.10
0.05
0.00
60
40
20
0
Jan Mar May Jul Sep Nov Jan Mar May Jul Sep
'06 '06 '06 '06 '06 '06 '07 '07 '07 '07 '07
VOLUME WEIGHTED SHARE PRICE ($A)
VOL TRADED (m)
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BOARD AND KEY MANAGEMENT
BOARD OF DIRECTORS Imants Kins Executive Chairman David Reynolds Non-Executive Director Andrew Simpson Non-Executive Director SENIOR MANAGEMENT Barry Rees Exploration Manager Peter Heydon Operations Manager Jutta Zimmermann CFO & Company Secretary
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ABM OBJECTIVES
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Become a diversified minerals explorer in Western Australia (WA) and Africa
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Target geological settings with potential for major discoveries
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Focused exploration at Erayinia Base Metal VMS project to outline a mineable deposit in WA
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Pipeline of new base metal projects in WA at Gascoyne, Harbutt Range and Earaheedy
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Investigate acquisition of gold project in
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EXPLORATION BUDGET 2007/08
| PROJECT | BUDGET (A$) |
|---|---|
| ERAYINIA | 1,000,000 |
| DIAMOND DRILLING | 550,000 |
| RAB AND RC DRILLING | 250,000 |
| EM SURVEYS (DOWNHOLE) | 100,000 |
| GEOCHEMISTRY AND MINERAGRAPHY | 100,000 |
| MOZAMBIQUE & AFRICA | 500,000 |
| TOTAL | 1,500,000 |
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ERAYINIA JV: PROJECT LOCATION
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Erayinia Project located 150km SE Kalgoorlie
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ERAYINIA JV: PROJECT OVERVIEW
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Erayinia covers 40km long greenstone belt with VMS base metal potential
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Total of 25 “thumbprints” magnetic anomalies/targets identified
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King and other targets with potential to host a cluster of VMS deposits
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105 RC and diamond drill holes completed, deepest diamond hole 570m
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Two mineralised lenses outlined at King to a depth of 450m
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Anomalous zinc mineralisation intersected at E2, E3, E14 and E25 (Calypso)
2008 Objectives
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Outline a mineable resource at King
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First pass and follow up exploration at remaining 24 “thumbprint” magnetic anomalies/targets – 4000m RC drilling program to start in January 2008.
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Discover new VMS base metal mineralisation outside the King prospect
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ERAYINIA: KING PROSPECT (E1)
Drilling to date has:
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Outlined base metal mineralisation over 700m strike
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Mineralisation extended to depth of 450m and open north, south and depth
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Best intercepts include:
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4.5m @ 6.7% Zn
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4.0m @ 7.8% Zn
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Hosted by quartz-sericite schist (Rhyolites)
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Mineral assemblage comprises pyrite,
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KING: BASE METAL INTERSECTIONS
| Drill hole Interval Zn Pb Cu Ag Au (m) % % ppm ppm ppm |
Drill hole Interval Zn Pb Cu Ag Au (m) % % ppm ppm ppm |
Drill hole Interval Zn Pb Cu Ag Au (m) % % ppm ppm ppm |
Drill hole Interval Zn Pb Cu Ag Au (m) % % ppm ppm ppm |
Drill hole Interval Zn Pb Cu Ag Au (m) % % ppm ppm ppm |
Drill hole Interval Zn Pb Cu Ag Au (m) % % ppm ppm ppm |
Drill hole Interval Zn Pb Cu Ag Au (m) % % ppm ppm ppm |
|---|---|---|---|---|---|---|
| EC014 | 7 | 4.4 | 0.3 | 100 | 33 | 0.10 |
| EC025 Including |
10 2 |
3.5 9.7 |
0.4 1.3 |
311 502 |
44 156 |
0.10 1.10 |
| ECD056 | 4.5 | 6.7 | 0.8 | 239 | 83 | |
| EC067 Including |
4 1 |
7.8 17.9 |
0.4 1.6 |
240 270 |
112 295 |
|
| ECD087 Including |
7 4 |
3.5 5.0 |
0.2 0.2 |
212 263 |
22 31 |
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ERAYINIA: KING PROSPECT (E1) LONGITUDINAL SECTION
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ERAYINIA: OTHER PROSPECTS
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First pass exploration drilling highlights: � RC drilling has intersected sulphide mineralisation at E2, E3, E14 and E25 (Calypso)
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Best intercepts recorded at E2 of
- 2m @ 1.22% Zn
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Anomalous zinc values of up to 0.20% Zn in four holes at Calypso (30km north of King).
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At E14 (10km north of King) anomalous zinc value of 0.22% Zn
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ERAYINIA: CONCEPTUAL DIAGRAM OF A VMS SYSTEM
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ERAYINIA: AEROMAGNETIC MAP
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Tenement
boundaries
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40km long
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ERAYINIA: AEROMAGNETIC MAP
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Spinifex Resources
NL soil
geochemistry
Sons of Gwalia
anomalous Zn & Cu
soil samples
Magnetic
“thumbprints”/
anomaly drill
targets
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ERAYINIA: PROJECT GEOLOGY
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• Very limited Archean geology exposed, as a result geophysics and drilling used to build a picture of the underlying geology
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ERAYINIA: INTERPRETED GEOLOGY
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• Bimodal volcanic sequence of Rhyolites and Basalts identified – which form part of a back arc system
• Younger age granites adjacent to the prospective geology – provide the heat engine for
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ERAYINIA: RC DRILL SAMPLES
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ERAYINIA: DD DRILL SAMPLES
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GASCOYNE BASEMETAL PROJECT
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• Project farmed out to Altera Capital Limited
- (Altera Resources)
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WORLD GDP PER CAPITA
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SUMMARY
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40 km VMS zone of potential discovered at Erayinia
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� 25 “thumbprint” drill targets at Erayinia � Two VMS lens discovered at King � Targeting mineable resource at King and discovery of new lenses at other 24 targets
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Project acquisition and exploration
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Gold in Mozambique
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Gold/base metals in Zambia
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The information in this presentation that relates to exploration results is based on information compiled by Harjinder Kehal who is a member of the Australasian Institute of Mining and Metallurgy. Harjinder Kehal is a Consultant Geologist with over 20 years experience as a geologist.
Harjinder Kehal has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity for which 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. Harjinder Kehal consents to the inclusion in the report of the matters based on his information in the form and context in which it is used.