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RENASCOR RESOURCES LIMITED — AGM Information 2013
Nov 28, 2013
65723_rns_2013-11-28_9f4b5d0a-40e2-4a78-966a-7c1837417682.pdf
AGM Information
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ASX Announcement
29 November 2013
Re: Managing Director’s Annual General Meeting Presentation to Shareholders
Attached please find a copy of the Managing Director’s presentation to be delivered today at the company’s AGM in Adelaide.
BACKGROUND INFORMATION
Renaissance Uranium is an Australian-based company focused on the discovery and development of economically viable deposits containing copper, gold, uranium and associated minerals. Renaissance has an extensive tenement portfolio, holding interests in key mineral provinces of South Australia and the Northern Territory.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr David Christensen
Managing Director
Mr Angelo Gaudio
Company Secretary
+61 8 8363 6989 [email protected]
ACN 135 531 341 36 North Terrace, Kent Town, SA 5067 Phone: +61 8 8363 6989 • Fax: +61 8 8363 4989 Email: [email protected]
ASX code: RNU www.renaissanceuranium.com.au
Annual General Meeting Presentation
29 November 2013
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Renaissance Uranium
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Renaissance Uranium 2013 Highlights
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Transition to multi-commodity explorer in key mineral provinces of South Australia
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Flagship project: Eastern Eyre
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Olympic Dam IOCGU belt
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New copper zone discovered from maiden drilling
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Multiple shallow, untested IOCGU targets
Diamond drilling in progress
Location of Renaissance’s South Australian projects
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Renaissance Uranium
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Corporate profile
Board of Directors
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ASX code RNU
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Shares on issue 114.8m
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• Options 14.3m[(1) ]
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Cash (30 Sep 13) $2.2m
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Share price (28 Nov 13) $0.050
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Market capitalisation $5.7m
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Top 20 shareholding 64%
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Board shareholding 47%
Stephen Bizzell (Chairman) David Christensen (MD) Geoff McConachy Chris Anderson Andrew Martin
Seeking shareholder approval to change name to Renascor Resources Limited to reflect expanded multicommodity focus
(1) Option breakdown: 13,550,000 options @ $0.24, expiring between 15 December 2013 and 17 February 2015; 750,000 @ $0.054, expiring 30 April 2016.
Renaissance Uranium
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Copper in South Australia Targeting new exploration prospects
• South Australian copper endowment
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One giant deposit (Olympic Dam)
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Several mid-tier copper deposits
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Multiple IOCGU prospects
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Copper under-represented
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Statistical comparison with global copper provinces suggests that South Australia should include more deposits
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New prospects at Eastern Eyre
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New Cu-Co-Ag zone
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Widespread mineralisation
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Untested targets
Goal: Define new copper ore bodies at Eastern Eyre
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Source: South Australian Department for Manufacturing, Innovation, Trade, Resources and Energy (DMITRE) presentation dated December 2012, citing CRU World Copper Conference, Santiago, 2012 Minex consulting, GSSA projects
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Eastern Eyre Project Overview
Tenements & EL 4721, EL 5012 and EL 5236 ownership (100%), ELAs 2008/00076 and 2010/00387 (option to earn 100%) Location Southern Gawler Craton Area 1,534 km[2 ] Primary targets IOCGU and associated deposits
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IOCGU corridor
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Major unexplored faults
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Shallow cover
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Widespread copper
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First drill program intersects major Cu-Co-Ag zone
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- Multiple untested IOCGU prospects
Olympic Dam IOCGU belt (image right), showing location of Renaissance’s Eastern Eyre and other projects in relation to significant IOCGU deposits; total resource figures from MESA Journal 68, Issue 1 -2013
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Prominent Hill 210 Mt @ 1.22% Cu from ~100m depth Olympic Dam 9,500 Mt @ 0.82% Cu from ~300m depth Carrapateena 292 Mt @ 1.29% Cu from ~500m depth Hillside 330 Mt @ 0.6 % Cu from <50m depth
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Eastern Eyre Project Shallow depth to basement
Eyre Peninsula: amongst the shallowest cover sequences in IOCGU belt
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Lower drilling costs
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More effective geophysics/geochem
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Potential open-cut mining
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Olympic Dam IOCGU belt (image right), showing depth to basement and key mineral deposits in relation to Renaissance’s Eastern Eyre Project (source: Meixner,A.J. and Roy,I.G. 2010. Depth to magnetic basement map of the Gawler-Curnamona region, South Australia (First Edition),1:750,000 scale, Geoscience Australia, Canberra)
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Eastern Eyre Project Untested, mineralised fault systems
Major untested faults
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Roopena and Angle Dam faults
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Each 40km to 50km largely
untested
Eastern Eyre Project (image right), showing major fault structures
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Roopena Fault
Angle Dam Fault
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Eastern Eyre Project Untested, mineralised fault systems
Major untested faults
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Roopena and Angle Dam faults
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Each 40km to 50km largely
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untested
Hiltaba granite
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Mineralisation source of OD belt
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Adjacent to Angle Dam Fault
Hiltaba Granite
Eastern Eyre Project (image right), showing regional geology (Hiltaba granites in red)
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Eastern Eyre Project Untested, mineralised fault systems
Major untested faults
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Roopena and Angle Dam faults
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Each 40km to 50km largely
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untested
Hiltaba granite
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Mineralisation source of OD belt
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Adjacent to Angle Dam Fault
Widespread mineralisation
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Abundant near-surface Cu/Fe from historical exploration
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Limited deeper drilling intersects ore-grade/near-ore grade Cu
Eastern Eyre Project (image right), showing copper and iron occurrences
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Eastern Eyre Project Strike potential
Hiltaba granite/GRV on margin of fault structure
Ample strike potential for Prominent Hill style
Eastern Eyre Project, showing geology in comparison to Prominent Hill
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Eastern Eyre Project Strike potential
Multiple gravity anomalies along fault structures Ample strike potential for Carrapateena style
Eastern Eyre Project, showing gravity in comparison to Carrapateena
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Eastern Eyre Project Untapped potential
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Historical exploration reveals potential
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1960s to 1980s exploration focused on nearsurface geochemical targeting
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- Widespread near-surface copper
Eastern Eyre Project (image right), showing historical drilling (<60m in blue; ≥60m in red) and fault zones
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Eastern Eyre Project Untapped potential
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Historical exploration reveals potential
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1960s to 1980s exploration focused on nearsurface geochemical targeting
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Widespread near-surface copper
Limited basement drilling
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Ore-grade/near ore-grade copper
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WMC’s Spencer prospect: extensive IOCGU alteration
Eastern Eyre Project (image right), showing historical drilling (<60m in blue; ≥60m in red) and fault zone
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Eastern Eyre Project Untapped potential
Historical exploration reveals potential
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1960s to 1980s exploration focused on nearsurface geochemical targeting
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Widespread near-surface copper
Limited basement drilling
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Ore-grade/near ore-grade copper
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WMC’s Spencer prospect: extensive IOCGU alteration
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Same image as previous
slide with prospects
included
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Immediate, drill-ready targets
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1050 area
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IOCGU targets
Eastern Eyre Project (image right), showing historical drilling (<60m in blue; ≥60m in red) and fault zone
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Eastern Eyre Project 1050 Prospect area
Extensive RAB drilling
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Conversion of +2,000 historical RAB intercepts
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- Defines multiple copper prospects on N-S faults
Drill-ready first-phase geochemical targets
- RC/DD drilling to leverage off of previous exploration
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Image of entire 1050 area
over RAB geochemical Cu
contours, marking key
RNU prospects in area
(1050 East and others)
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Eastern Eyre Project, showing RAB copper contours and Renaissance prospects
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Eastern Eyre Project 1050 Prospect area
Extensive RAB drilling
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Conversion of +2,000 historical RAB intercepts
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- Defines multiple copper prospects on N-S faults
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Drill-ready first-phase geochemical targets - RC/DD drilling to leverage off of previous exploration
Major new mineralised zone intersected at 1050 East
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Eastern Eyre Project, showing Renaissance copper prospects over electromagnetic image, with copper contours
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Eastern Eyre Project 1050 East prospect
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Major new Cu-Co-Ag zone intersected
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Broad mineralised zones including:
20m at 0.35% Cu and 133 ppm Co from 122m hole (EERC007)
44m at 0.61% Cu, 311 ppm Co and 24 ppm Ag from 172m to EOH,
including 2m at 3.5% Cu , 273 ppm Co and 142 ppm Ag (EERC003) 16m at 0.30% Cu and 125ppm Co from 116m (EERC002)
Major new mineralised zone intersected along untested Angle Dam fault
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1050 East prospect, showing Renaissance’s RC drill holes, interpreted geology and historical drilling
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Eastern Eyre Project 1050 East – New Cu-Co-Ag zone
• Historical exploration
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Shallow targets within Wandearah
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Results included narrow highgrade copper
FW01: 4m at 2.2% Cu
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Renaissance intersects new mineralised zone
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Hosted in Olympic Dam-age Moonabie Formation
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Adjacent to Angle Dam porphyry
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Strong REE and uranium
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Possible association with IOCGU
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Grade improves with depth
Potential to locate major ore body within Moonabie Formation
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Geological cross section 6374400N showing outline of IP chargeability zone and planned diamond drill holes
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1050 East
Exploration potential
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Open along strike
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Untested zones to north and south
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Angle Dam Fault trend
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Mineralisation improves at depth in grade and width
Current program:
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Diamond drilling (underway)
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Below mineralised zones and
along strike to south
1050 East prospect (image right), showing Renaissance’s RC drill holes and historical drilling, outlining mineralised positions and interpreted structural trends
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Eastern Eyre Project 1050 East – Hole EEDD008
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Hole EEDD008 -- strong copper sulphide (chalcopyrite) interval within hematite-altered volcanoclastic Moonabie Formation (73 metres)
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Eastern Eyre Project Angle Dam/1050 prospect
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Angle Dam fault
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Control structure at 1050 East
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40km N-S structure
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Coincident with Hiltaba granites
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Largely untested
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1050 South conductor targets
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Major conductive targets defined by RNU Reptem survey
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2km south of 1050 East
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Coincident with Angle Dam fault and RAB Cu geochemistry
Immediate follow-up Cu-Co-Ag drill targets
1050 project area (image right), showing 1050 East, Angle Dam fault zone and 1050 conductor targets over parallel electromagnetic and geology images
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Eastern Eyre Project Angle Dam IOCGU targets
• Angle Dam fault
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Control structure for new mineralised zone at 1050 East
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Limited targeting outside of 1050
- area
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Gravity survey
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New gravity survey planned to define IOCGU drill targets
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Three zones within Angle Dam fault
Significant potential within untested, mineralised Angle Dam fault
Eastern Eyre Project (image right), showing magnetic image and interpreted gravity anomalies, existing gravity stations and proposed coverage for follow-up gravity survey
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Eastern Eyre IOCGU targets
• Multiple premium IOCGU targets
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Olympic Dam IOCGU Belt
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Coincident anomalies Structural control
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Geochemistry
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Gravity
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Magnetics
• Untested
Significant untested potential for large scale resource
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Eastern Eyre Project, showing IOCGU prospects
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Other Projects Farina
| Tenements & ownership | ELs 4627, 4628, 4676, 4677, 4822 |
|---|---|
| and 4957 (100%) | |
| Location | Adelaide Fold Belt (SA) |
| Area | 4,101 km2 |
| Primary targets | Zambian Copper Belt-style |
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Potential large tonnage Zambian Copper Belt-style deposits
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Major land position: +4,000 km[2 ]
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Significant ore-grade copper intersections from Utah Development drilling in 1970/80s
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Drill-ready prospects
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Callanna: follow-on targets from Utah exploration
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Luck-at-Last: from recent regional airborne EM survey
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Upside opportunity to use EM to leverage off of existing Utah exploration
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Farina Project, showing geology and historical copper occurrences
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Farina Project Next steps
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Detailed EM provides opportunity to exploit Zambian-style potential
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Leverage off of Utah Development’s drill hole database
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First-mover opportunity to apply detailed EM
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Extensions of prospective horizons undercover
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Drill-test existing targets
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Callanna
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Luck-at-Last
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Farina Project, showing proposed detailed EM coverage area and Geoscience Australian regional EM lines
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Uranium Projects Summary
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Uranium market
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Short-term outlook remains weak
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Prospects for medium-term turnaround
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Uranium-only exploration requires world-beater results
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Renaissance has strong uranium exploration portfolio
− Frome, Warrior, Pirie Basin Strategy: limit current spend, while maintaining upside
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Map of significant uranium occurrences (from Geoscience Australia), showing Renaissance’s projects and other South Australian uranium projects
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Work Program
| 2013 | 2014 | 2014 | 2014 | |
|---|---|---|---|---|
| Q4 | Q1 Q2 Q3 |
|||
| Activity | O N D |
J F M |
A M J |
J A S |
| 1050 East Prospect | ||||
| Diamond drilling | ||||
| Geophysical work | ||||
| Follow up RC drilling | ||||
| 1050 South Prospect | ||||
| Diamond drilling | ||||
| Geophysical work | ||||
| Follow up RC drilling | ||||
| Eastern Eyre - IOCGU Prospects | ||||
| Drilling RC | ||||
| Geophysical work |
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Summary
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New Cu-Co-Ag zone at 1050 East
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First drill program in Eastern Eyre project
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Olympic Dam Belt
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Immediate follow-on drilling to test for prospective economic ore body
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Strong pipeline of new, untested targets
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1050 East
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1050 South conductive zone
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Roopena IOCGU targets
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Angle Dam IOCGU targets
Drilling in progress, with strong news flow through 2013/2014
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Important notice
Forward Looking Statements
This Presentation may include statements that could be deemed “forward-looking” statements. Although Renaissance Uranium Limited (the “Company”) believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or may not take place at all. No Offer to Sell or Invitation to Buy
This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in the Company, and no part of this Presentation forms the basis of any contract or commitment whatsoever with any person. The Company does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction.
Disclaimer
Whilst care has been exercised in preparing and presenting this Presentation, to the maximum extent permitted by law, the Company and its representatives make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation; accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and accept no responsibility for any errors or omissions from this Presentation
Receipt of this Presentation
If the recipient of this Presentation has signed any confidentiality or similar agreement covering information of the type herein contained, then the Presentation and all information therein is received subject to that agreement(s).
Competent Persons Statement
The exploration results in this Presentation, insofar as they relate to mineralisation, are based on information compiled by Mr G. W. McConachy (fellow of the Australasian institute of Mining and Metallurgy) who is a director of the Company. Mr McConachy has sufficient experience relevant to the style of mineralisation and type of deposits being considered 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 (the JORC code, 2004 edition). Mr McConachy consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Other
The information contained in this presentation and otherwise disclosed to you by the Company prior to a public announcement of all of the information must be kept strictly confidential and not distributed, reproduced, transmitted or made available to any other person. In accordance with section 1043A of the Corporations Act 2001, some of the information contained in this Presentation is not generally available and may have a material effect on the price or value of the Company’s shares and may, therefore, constitute “inside information” for the purposes of the Corporations Act.
As an insider you must not (whether as principal or agent):
(a) apply for, acquire or dispose of the Company’s shares, or enter into an agreement to apply for, acquire or dispose of any such shares; or
(b) procure another person to apply for, acquire or dispose of, or to enter into an agreement to apply for, acquire or dispose of, any such shares.
Once in possession of this information you will also be prohibited from communicating the information to any other person who would be likely to apply for, acquire or dispose of securities, or procure another person to do so until this information has been made public. You should seek your own legal advice on your responsibilities under the Corporations Act. The Company does not purport to represent the above comments as either advice or as a comprehensive description of these complex provisions.
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