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RENASCOR RESOURCES LIMITED — AGM Information 2014
Nov 26, 2014
65723_rns_2014-11-26_4da558a2-4cfe-4e66-aa9d-c1b74118fb38.pdf
AGM Information
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ASX Announcement
27 November 2014
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Managing Director’s Annual General Meeting 2014 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
Renascor Resources is an Australian-based company focused on the discovery and development of economically viable deposits containing copper, gold, uranium and associated minerals. Renascor has an extensive tenement portfolio, holding interests in projects in key mineral provinces of South Australia and the Northern Territory.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr David Christensen Mr Angelo Gaudio
Managing Director
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.renascor.com.au
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Annual General Meeting Presentation
27 November 2014
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Renascor Resources
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2014 highlights
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Copper discovery at 1050 East prospect
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High-grade mineralised system adjacent to untested fault zone
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First target drilled in Eastern Eyre project
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13m at 1.45% Cu, 66 ppm Ag and 0.17% Co (from 215m), including massive sulphide zone of 8m @ 2.2% Cu, 92 ppm Ag and 0.26% Co
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Drill-ready targets at Eastern Eyre
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+1,500 km[2] in Olympic Dam copper belt, South Australia
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Access restriction recently lifted in underexplored area
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Major control structures untested (+40 km strike-length)
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Pipeline of prospects in exploration portfolio
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Dominant position at Eastern Eyre
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Strategic exploration holdings: Frome and Warrior (uranium) Olary (gold, copper) Farina (copper) Gairdner (nickel, silver, copper)
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Active drill programs
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Multiple low-cost drill programs to extend 1050 East
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First drill-testing of four high-priority prospects targets November 2014
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Additional copper prospects ready for drill testing in early 2015
Renascor Resources
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Corporate profile
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ASX code
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ASX code RNU
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• Shares on issue 136.9m
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• Options 6.2m[(1) ] • Cash (30 Sep 14) ~$1.1m
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• Share price (26 Nov 14) $0.036
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• Market capitalisation $4.9m
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• Enterprise Value $3.8m
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• Top 20 shareholding 58% • Board shareholding 42%
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(1) Option breakdown: 5,450,000 options @ $0.24, expiring between 31 December 2014 and 17 February 2015; 750,000 @ $0.054, expiring 30 April 2016
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| Board of Directors | Board of Directors |
|---|---|
| Stephen Bizzell (Chairman) |
Chairman of corporate advisory and funds management group; previously Executive Director Arrow Energy |
| David Christensen (MD) |
Experienced mining executive; former CEO/President of Heathgate Resources (mining/exploration) and Nuclear Fuels Corporation (marketing and trading) |
| Geoff McConachy |
Geologist with +35 years experience; instrumental in discovery of Four Mile (U) (Prospector of the Year), Fosterville (Au) and Potosi (base metal) |
| Chris Anderson | Geophysicist with +30 years experience; instrumental in discovery of Carrapateena (IOCG), Osborne (Cu-Au), Kalkaroo (Cu-Au-Mo) and Gokona (Au) |
| Andrew Martin | Investment banker, with +15 years experience in infrastructure/resource sector |
Renascor Resources
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Olympic Dam Belt Major copper province
Prominent Hill
210 Mt @ 1.22% Cu from ~100m depth, discovered 2001
Olympic Dam
9,500 Mt @ 0.82% Cu from ~300m depth, discovered 1975
Carrapateena
800 Mt @ 0.80% Cu from ~500m depth, discovered 2005
Hillside
330 Mt @ 0.6 % Cu from <50m depth, discovered 2008
Renascor’s Eastern Eyre Project +1,500km[2] Targeting similar large-scale copper resources from <50m cover depth Amongst shallowest cover sequences in region
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Renascor Resources
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Eastern Eyre Project Compared to other large Cu deposits in region
Renascor’s Eastern Eyre Large copper deposits in South Australia Project Location: Olympic Dam corridor ✔ Geology: Host rock associated with Hiltaba granites ✔ Geology: Gawler Range Volcanics ✔ Geological Age: Olympic Dam age (1590 Ma) ✔ Metals: Polymetallic (Cu-Ag-Co-Pb-Zn) ✔ Setting: Proximity to major structures ✔ Geophysics: Strong gravity/magnetic signature ✔ Mineralogy: IOCG-alteration ✔ Mineralisation: Extensive copper-mineralised halo ✔ Large-scale copper deposit ?
Geologic signature provides key similarities to large scale copper deposits in district
Renascor Resources
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Eastern Eyre Project Overview
Tenements & ownership EL 4721, EL 5012 and EL 5236 (100%),EL 5400 and 5401 (option to earn 100%)
Access granted – 2013
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Department of Defence restriction lifted
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Renascor commences first comprehensive exploration in +10 years
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1050 East
Massive sulphides
8m @ 2.2% Cu
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1050 East discovery – 2014
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High-grade grade copper, massive sulphides in first target drilled
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New discovery in untested fault
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Follow-on drilling currently underway
Major targets along-strike – 2014
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Multiple drill-ready targets from recent reconnaissance exploration
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Drilling currently underway
Renascor Resources
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1050 East
Geology
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Red Rock
fault
1050 East discovery Tank Hill
in classic volcanic centre
(concealed)
volcanogenic setting
New mines department
Roopena
mapping study identifies
fault zone Freshwell
Angle Dam volcanic
fault splays
sequence (shown in red)
Volcanism controlled by NNE Freshwell
prospect
trending splays from Angle
Coincident copper/zinc
Dam fault
RAB geochemistry suggests
Freshwell fault splay is
copper mineralised zone 1050 East
Massive sulphides
Angle Dam
Incl 8m @ 2.2% Cu, 92 ppm
fault
Mineralised target Ag, 0.26% Co
zone largely
untested
1050 East area, showing recently identified
Freshwater fault splays and historic drill holes (in
red and blue) (McAvaney and Wade)
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Renascor Resources
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1050 East
EEDD012 - massive sulphides
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Host rock associated with Hiltaba/GRV
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Moonabie formation
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Olympic Dam age
Portion of 3m @ 4.0% Cu, 164 ppm Ag and 0.42% Co
Renascor Resources
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1050 East
Drill results
High-grade copper in first prospect drilled
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Massive sulphides
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Cu+Co+Ag
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Situated in southern portion of NNE Freshwell fault splays
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Large target zone for more massive sulphide development
Follow-up drilling this month
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Freshwell
Cu/ Pb anomaly
Target
area for
next-
phase
drilling
47m @ 0.59% Cu, 55 ppm Ag
4m @ 1.24% Cu and
and 0.03% Co (from 172m),
65.8 ppm Ag (from
incl:
67m) and 9m @
2m at 3.5% Cu, 142 ppm Ag
1.07% Cu and 29
and 0.03% Co (EERCDD003)
ppm Ag (from 75m)
(EEDD013)
13m at 1.45% Cu, 66 ppm Ag
and 0.17% Co (from 215m) ,
incl:
3m @ 4.0% Cu, 164 ppm Ag
and 0.42% Co (EEDD012)
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Renascor Resources
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Eastern Eyre Project Immediate drill targets
Drill-ready copper targets along strike and adjacent to 1050 East
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Roopena-Angle Dam fault -- +40km, limited exploration
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High priority gravity/magnetic targets
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Recent surface sampling upgrades prospects
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1050 East-style/IOCG
Drilling this month
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Eastern Eyre Project Nilginee prospect
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Large coincident gravity/geochemical anomaly +3MGal amplitude
- 3km strike-length
Centre of gravity feature coincident with magnetic anomaly
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Along-strike from Arrium’s Moola prospect
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Copper-gold mineralisation within a stratabound hematite-albitecalcite-chlorite breccia
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Anomalous copper (+50 ppm) from soils over 400m x 400m area
Drilling currently underway
Renascor Resources
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Eastern Eyre Project Nilginee prospect
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Large coincident gravity/geochemical anomaly
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+3MGal amplitude
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3km strike-length
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Centre of gravity feature coincident with magnetic anomaly
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Along-strike from Arrium’s Moola prospect
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Copper-gold mineralisation within a stratabound hematite-albitecalcite-chlorite breccia
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Anomalous copper (+50 ppm) from soils over 400m x 400m area
Drilling currently underway
Renascor Resources
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Eastern Eyre Project Knights prospect
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Coincident gravity/
geochemical target
South of Nilginee along fault
trend
High amplitude (3MGal) gravity
target with coincident
geochemistry
Anomalous copper (+50 ppm)
from soils over 400m of strike,
open to south
Maximum copper value: 477
ppm
Similar geochemical response
to 1050 East
Drilling to commence
Knights prospect, showing copper in soils and residual gravity
counters (0.5 Mgal intervals) this month
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Renascor Resources
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Eastern Eyre Project Knights prospect
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Coincident gravity/ geochemical target
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South of Nilginee along fault trend
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High amplitude (3MGal) gravity target with coincident geochemistry
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Anomalous copper (+50 ppm) from soils over 400m of strike, open to south
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Maximum copper value: 477 ppm
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Similar geochemical response to 1050 East
Drilling to commence this month
Renascor Resources
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Eastern Eyre Project Extension Tank prospect
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Standout gravity target
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High amplitude (6MGal) gravity anomaly
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Discreet gravity signature within Roopena fault zone
Coincident magnetic response in southern target area
Limited shallow drilling over magnetised portion has not explained anomaly
Drilling to commence this month
Renascor Resources
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Eastern Eyre Project Extension Tank prospect
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Standout gravity target
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High amplitude (6MGal) gravity anomaly
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Discreet gravity signature within Roopena fault zone
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Coincident magnetic response in southern target area
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Limited shallow drilling over magnetised portion has not explained anomaly
Drilling to commence this month
Renascor Resources
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Eastern Eyre Project Target pipeline
Additional high-priority copper targets for 2015
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Roopena-Angle Dam fault -- +40km, limited exploration
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On-going reconnaissance programs have upgraded multiple gravity/magnetic targets
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Final approvals being sought for
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drilling in 2015
Pipeline of targets for subsequent drill programs
Renascor Resources
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Eastern Eyre Project
Northern fault targets
Ozone/Laura
Laura
Coincident gravity/magnetic
targets
Along-strike from 1050 East
Structural setting comparable to
WMC’s historic Spencer IOCG
prospect, but with stronger
geophysical response
Ozone Limited previous drilling has
returned anomalous copper, but
not explained geophysical features
Aeromagnetic image with gravity contours over
Ozone and Laura prospects showing 0.5 Mgal
intervals
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Renascor Resources
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Eastern Eyre Project Northern fault targets
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Laura
Ozone
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Ozone/Laura
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Coincident gravity/magnetic targets
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Along-strike from 1050 East
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Structural setting comparable to WMC’s historic Spencer IOCG prospect, but with stronger geophysical response
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Limited previous drilling has returned anomalous copper, but not explained geophysical features
Renascor Resources
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Eastern Eyre Project Highway prospect
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Coincident gravity/
geochemical target
Northwest of 1050 East
along regional fault trend
Immediately northeast of
Arrium’s Iron Knob iron
mine
High amplitude (3MGal),
2km gravity target
Anomalous copper (+50
ppm) from soils over
gravity high
Similar geochemical
response to 1050 East
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Renascor Resources
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Eastern Eyre Project Highway prospect
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Coincident gravity/ geochemical target Northwest of 1050 East along regional fault trend
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Immediately northeast of Arrium’s Iron Knob iron mine
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High amplitude (3MGal),
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2km gravity target
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Anomalous copper (+50 ppm) from soils over gravity high
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Similar geochemical response to 1050 East
Renascor Resources
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Eastern Eyre Project Southern fault trend
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Untested
geophysical
targets
Multiple prospects identified
within fault trend along-
strike from 1050 East
Limited/no drilling
Cocoa Dam: magnetic
anomaly along Angle Dam
fault trend
McMahons: coincident
gravity/magnetic target
along parallel Roopena fault
trend
Aeromagnetic image of central portion of
Eastern Eyre project, showing location of
McMahons and Cocoa Dam in relation to 1050
East and other prospects
Renascor Resources
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Eastern Eyre Project Southern fault trend
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Untested geophysical targets
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Multiple prospects identified within fault trend alongstrike from 1050 East
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Limited/no drilling
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Cocoa Dam: magnetic anomaly along Angle Dam fault trend
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McMahons: coincident gravity/magnetic target along parallel Roopena fault trend
Renascor Resources
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Uranium
Warrior and Frome Projects
Portfolio includes low-cost opportunities to take advantage of increase in uranium price
Warrior
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Advanced, historic uranium project
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Limited modern exploration
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Two-fold opportunity:
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Modern exploration methods to recalibrate (and enhance) grade
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Extend size through additional drilling of paleochannel
Frome
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Major strategic position near Beverley/Four Mile uranium mines
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Basement fault setting comparable to Four Mile
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- Immediate drill targets
Renascor Resources
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Greenfield exploration Farina, Gairdner and Olary projects
Low carrying cost opportunities in base and precious metals
Farina
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Major position in Adelaide Fold Belt
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Targeting large tonnage Zambian Copper Belt-style
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Project area expanded in 2014 with acquisition of key ground containing ore-grade copper intersections from Utah Development drilling in 1970/80s
Olary
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Strategic position in Southern Curnamona Province
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Targeting gold and copper
Gairdner
- Nickel, silver and copper targets in Central Gawler Craton
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Renascor Resources
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Work Programs
Remainder of 2014
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RC drill program at Eastern Eyre
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Follow-up drilling at 1050 East
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First-pass drilling at Nilginee, Knights, Extension Tank
2015
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Follow-up drilling based on results from current program
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Expanded Eastern Eyre drilling including Ozone, Laura, Highway and southern fault targets
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Renascor Resources
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Summary
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Major copper system discovered at Eastern Eyre
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First drill program drilled in project area
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Olympic Dam Belt
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Follow-on drilling underway
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Strong pipeline of new, untested targets
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1050 East
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Nilginee, Knights, Extension Tank
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Northern and southern fault targets
Drilling in progress, with strong news flow through 2014/2015
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Renascor Resources
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Important notice
Forward Looking Statements
This Presentation may include statements that could be deemed “forward-looking” statements. Although Renascor Resources 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
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 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC code, 2012 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.
Renascor Resources
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