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RESOLUTION MINERALS LTD — Investor Presentation 2022
Mar 22, 2022
65717_rns_2022-03-22_5feaf116-1187-4e19-a060-251952da6302.pdf
Investor Presentation
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23 March 2022
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INVESTOR PRESENTATION
Resolution Minerals Ltd (ASX:RML) ( Resolution or the Company ) is pleased to provide investors with the opportunity to watch Managing Director, Duncan Chessell present the following Investor Presentation live at the Brisbane Mining Conference, at 9:30am, tomorrow (24/03/2022). Resolution is currently active on Gold and Battery Metals projects in Alaska and Northern Australia. This presentation summarises the most important recent news, as well as the strategy and exploration plans for 2022.
Live Event: Brisbane Mining – Energy and Minerals Conference Date: Thursday, 24 March 2022 Presentation time: 9:30am (Brisbane, Australia)
Or register to watch the presentation online for free here
For further information please contact the authorising officer Duncan Chessell:
Duncan Chessell Managing Director Resolution Minerals Ltd M: +61 414 804 055 E: [email protected]
OR
Julian Harvey Investor Communications Resolution Minerals Ltd M: +61 404 897 584 [email protected]
CAPITAL STRUCTURE
Ordinary Shares Issued 658 M
Options and rights Listed options 6 M @ 10c Listed options 74 M @ 12c Unlisted options 13 M @ 8c Unlisted options 59 M @ 4c Unlisted options 79 M @ 3c Unlisted rights 18 M
Last Capital Raise Sep-Oct-21 - Placement and SPP $3.7M @ 2c
Level 4, 29 King William Street Adelaide SA 5000 www.resolutionminerals.com
BOARD Craig Farrow - Chair Duncan Chessell - MD Paul Kitto - TD Andrew Shearer - NED Jarek Kopias - Co Sec
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MARCH 2022
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FULLY FUNDED by JV Partner OZ Minerals
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PROJECTS
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Market Cap Top 20 Shareholders Share Price
~$12m 31% $0.018
JMEI Tax Credits Shares on issue Active Projects
$1.25m 658m 4
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COMPANY OVERVIEW
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Duncan Chessell Managing Director
Geologist with 20 years’ experience in business, precious and battery metals exploration and project generation in Australia and Papua New Guinea. Triple Mt Everest summiteer. Previous directorships held in the mining and NFP sectors.
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Craig Farrow Non-Executive Chair
Chartered Accountant with a strong commercial acumen across multi sectors including agriculture, professional services and technology. Previous directorships include Vocus Group (ASX:VOC) amongst others.
Dr Paul Kitto
Non-Executive Technical Director
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*Figures current as of 21/3/2022
Geologist with 35 years’ experience in the mining industry and an impressive trackrecord including numerous multi-million ounce gold discoveries in Africa, Australia and Papua New Guinea. He is also a Technical Director of Tietto Minerals Ltd (ASX: TIE) Meteoric Resources Ltd (ASX: MEI) and Peako Limited (ASX: PKO).
Our Mission
Resolution Minerals Ltd (RML) is a junior mineral explorer with projects prospective for in-demand commodities gold, copper and other battery metals. RML believes the best value creation for shareholders is through discovery success. Hunting for big deposits in big country.
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Andrew Shearer
Non-Executive Director
Geophysicist with a technical and corporate background as a resource analyst. NonExecutive Director of Andromeda Metals (ASX:ADN) and Investigator Resources (ASX:IVR).
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SCENERY/GRAPH
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Christine Lawley
Exploration Manager
Christine has 15 years’ mineral exploration experience in gold, base and strategic metals with Newmont, Musgrave Minerals and Iluka and holds a Masters Degree in Ore Deposit Geology. Christine has a wealth of experience from mine site geology, resource modelling to early stage exploration. Christine is also Principal Geologist.
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Kelvin Blundell Principal Geophysicist
Sandfire’s consulting geophysicist for the significant DeGrussa Cu-Au massive-sulphide discovery and recent success with Musgrave Minerals, Kelvin has 20 years’ experience both in Australia and internationally. Kelvin is RML’s consulting Principal Geophysicist.
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ALASKA TINTINA GOLD PROVINCE – GIANT DEPOSITS!
The 64North Project – potential GIANT size gold deposits in highly prospective Pogo District
64North Project Overview
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357km[2] surrounding the 11M oz Au Pogo Gold Mine owned by Northern Star (ASX:NST)
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Prospective for high-grade Pogo-style gold and Cu-Mo-Au porphyry mineral systems
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Drill targets identified for potential high-grade Pogo-style targets at Tourmaline Ridge
42% interest achieved with right to earn a 51% interest by a further US$1.2m spend by 31/07/23 - can form a JV at anytime and co-fund
Since 2019, RML has built a strong pipeline of prospects and acquired new geophysical data sets and built jurisdictional expertise.
Cu-Mo-Au porphyry prospects also identified
Deposit sizes stated as Endowment (Resources + Reserves + Historic Production), from Company websites, as listed on disclaimer slide
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~~(Northern Star)~~
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Drilling planned for Q3, 2022
Pogo-style high-grade (>16g/t Au) drill target is the NW dipping shear with large surface Au geo-chem anomaly and new 4.8g/t Au trenching results
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View East – 6km to Pogo Gold Mine
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Regional NW dipping shear zone – main structural control over mineralisation
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Pogo-style high-grade drill target is the NW dipping shear. With a 1800m x 750m gold in soil anomaly and new 4.8g/t Au trenching results
Resolution ASX:RML
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North View
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TOURMALINE RIDGE: PLANNED DRILLING - Q 3, 2022
Drilling is planned to intersect the NW shear which is prospective to host Pogostyle gold mineralisation below Tourmaline Ridge and interpreted to be the source of the large 1800m x 750m surface expression of gold in soils & trenching
POGO STYLE – POGO GOLD MINE MINERALISATION MODEL
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Gold-bearing quartz veins
Graphitic schist
North-East View Larimer (2015)
• Free milling Au and low sulfide quartz veins
• ~3% pyrite, arsenopyrite, pyrrhotite
•
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Historical holes were drilled to intersect the hanging wall
veins, missing the higher priority NW dipping shear
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Typical elements As-Bi-Te-S
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Alteration halo conductivity <600 ohm.m
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64 NORTH PROJECT: OVERVIEW
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The Right Ingredients
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🗹 Next to operating high-grade Pogo Gold Mine - 11Moz gold endowment
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🗹 Right Geology – Granitic Intrusions, age 80-110 Ma, main mineralising engine room present throughout Tintina Gold Province
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🗹 Large structures – potential fluid pathways identified in geophysics surveys (ZTEM, CSAMT) at Tourmaline Ridge, Aurora and East Pogo Prospects
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🗹 Tourmaline Ridge Prospect – large 1800m x 750m gold in soil anomaly. Rock chips up to 118g/t gold
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🗹 Elaine Cu-Mo-Au Porphyry Prospect
A 5 hole 2,200m Diamond core drilling program is planned for Q3, 2022 at the road accessible Tourmaline Ridge Prospect
- 🗹 Historic Exploration Database US$15 million in expenditure 1998-2012
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NORTHERN TERRITORY BATTERY METAL PROJECTS
The Benmara, Wollogorang and Carrara Range Projects are part of Resolution’s strategy to explore for battery metals in Northern Australia
Wollogorang Project – farmed out JV (Cu, Co, U)
- Covering 3,825km[2] in the McArthur Basin prospective for sedimentary hosted battery metals: copper, cobalt and hard rock uranium.
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Wollogorang is positioned on Geoscience Australia’s newly defined base metal corridor - (Hoggard et al 2020).
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Proven mineralisation with the Stanton Cobalt Deposit (942kt @ 0.13% Co, 0.06% Ni, 0.12% Cu).
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40 conductors identified in recent VTEM geophysical survey highlighting the sediment hosted copper potential of the project.
Benmara Project (Cu-Ag-Pb-Zn-Co)
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Covering 2,230km2 of the South Nicholson Basin margin and positioned on the Fish River Fault analogous rocks to world-class McArthur River Mine and other significant deposits in the region.
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Q4, 2021 successful proof of concept RC drilling program confirmed up to ~200m thick shale units ideal trap rocks for base metals.
Carrara Range Project (Mn, Iron Ore, Cu-Pb-Zn)
- Prospective for manganese, iron and Cu-Pb-Zn. Prospective rocks as per Benmara, underexplored. Early stage, acquired Q1, 2022.
Companies exploring in the region include BHP, FMG, Rio Tinto, Newcrest, South32
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WOLLOGORANG PROJECT – GAME CHANGER
The GAME CHANGER is the Farm-in & JV agreement struck with Australian copper producer OZ Minerals
OZ Minerals Farm-in & JV
The recent agreement will see OZ Minerals sole fund exploration activities in stages, potentially through to Final Investment Decision (FID) to mine.
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Key terms
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OZL can earn a 51% interest by spending ~$4.9m over 5 years
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RML may retain 49% interest by electing to participate from year 6
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If RML elects not to participate, OZL has the option to earn a 75% interest, by sole-funding and delivering a Positive Final Investment Decision to Mine
Next Steps
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Drilling targets and drilling permits in place
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• Heritage surveys to be undertaken Q2, 2022
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Track building planned for June-July 2022
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Up to 6,500m of RC Drilling to take place in Q3-
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4, 2022 dry season
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WOLLOGORANG PROJECT – COPPER POTENTIAL
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Stanton Co-Cu
Deposit
Dozens of targets
untested by
previous drilling
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The underexplored Wollogorang Project is located in the highly prospective McArthur Basin, with surrounding ground held by Teck, BHP, Rio Tinto, Redbank and South 32.
Results from 2021 VTEM geophysics survey identified 40 conductors highlighting the copper potential of the Project.
VTEM surveys can detect sub-surface conductive bodies to 500m depth, such as massive base metal sulfide directly and other potential trap sites for base metals.
| ep, suc as massve ase mea sue recy an oer potential trap sites for base metals. |
ep, suc as massve ase mea sue recy an oer potential trap sites for base metals. |
ep, suc as massve ase mea sue recy an oer potential trap sites for base metals. |
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| Priority | # Targets | Comments | |
| 1 | 4 | Strong late-time anomaly or discrete mid-time anomaly | |
| 2 | 13 | Good mid-time to late-time anomaly indicative of a bedrock source | |
| 3 | 23 | Moderate mid-time anomaly indicative of as bedrock source |
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| OUR NEXT PHASE OF GROWTH - TIMELINE Exploration Activity 2022 Q1 Q2 Q3 Q4 64North, AK Drill permits Geophysics Survey (ELF-EM ) Tourmaline Ridge Track and drill pad building 2,200m of diamond core drilling Wollogorang, NT Drilling Permits Heritage clearance & Stakeholder engagement Track building 6,500m RC drilling Benmara Regional target generation, field recce Heritage clearance 3,000m RC drilling Fully Funded by Farm-in Partner OZ Minerals (OZL) |
OUR NEXT PHASE OF GROWTH - TIMELINE Exploration Activity 2022 Q1 Q2 Q3 Q4 64North, AK Drill permits Geophysics Survey (ELF-EM ) Tourmaline Ridge Track and drill pad building 2,200m of diamond core drilling Wollogorang, NT Drilling Permits Heritage clearance & Stakeholder engagement Track building 6,500m RC drilling Benmara Regional target generation, field recce Heritage clearance 3,000m RC drilling Fully Funded by Farm-in Partner OZ Minerals (OZL) |
OUR NEXT PHASE OF GROWTH - TIMELINE Exploration Activity 2022 Q1 Q2 Q3 Q4 64North, AK Drill permits Geophysics Survey (ELF-EM ) Tourmaline Ridge Track and drill pad building 2,200m of diamond core drilling Wollogorang, NT Drilling Permits Heritage clearance & Stakeholder engagement Track building 6,500m RC drilling Benmara Regional target generation, field recce Heritage clearance 3,000m RC drilling Fully Funded by Farm-in Partner OZ Minerals (OZL) |
OUR NEXT PHASE OF GROWTH - TIMELINE Exploration Activity 2022 Q1 Q2 Q3 Q4 64North, AK Drill permits Geophysics Survey (ELF-EM ) Tourmaline Ridge Track and drill pad building 2,200m of diamond core drilling Wollogorang, NT Drilling Permits Heritage clearance & Stakeholder engagement Track building 6,500m RC drilling Benmara Regional target generation, field recce Heritage clearance 3,000m RC drilling Fully Funded by Farm-in Partner OZ Minerals (OZL) |
OUR NEXT PHASE OF GROWTH - TIMELINE Exploration Activity 2022 Q1 Q2 Q3 Q4 64North, AK Drill permits Geophysics Survey (ELF-EM ) Tourmaline Ridge Track and drill pad building 2,200m of diamond core drilling Wollogorang, NT Drilling Permits Heritage clearance & Stakeholder engagement Track building 6,500m RC drilling Benmara Regional target generation, field recce Heritage clearance 3,000m RC drilling Fully Funded by Farm-in Partner OZ Minerals (OZL) |
OUR NEXT PHASE OF GROWTH - TIMELINE Exploration Activity 2022 Q1 Q2 Q3 Q4 64North, AK Drill permits Geophysics Survey (ELF-EM ) Tourmaline Ridge Track and drill pad building 2,200m of diamond core drilling Wollogorang, NT Drilling Permits Heritage clearance & Stakeholder engagement Track building 6,500m RC drilling Benmara Regional target generation, field recce Heritage clearance 3,000m RC drilling Fully Funded by Farm-in Partner OZ Minerals (OZL) |
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|---|---|---|---|---|---|---|
| Exploration Activity 2022 | Q1 | Q2 | Q3 | Q4 | ||
| 64North, AK | Drill permits | |||||
| Geophysics Survey (ELF-EM ) Tourmaline Ridge | ||||||
| Track and drill pad building | ||||||
| 2,200m of diamond core drilling | ||||||
| Wollogorang, NT Fully Funded by Farm-in Partner OZ Minerals (OZL) |
Drilling Permits | |||||
| Heritage clearance & Stakeholder engagement | ||||||
| Track building | ||||||
| 6,500m RC drilling | ||||||
| Benmara | Regional target generation, field recce | |||||
| Heritage clearance | ||||||
| 3,000m RC drilling |
Planned activity
Planned drilling Completed/Underway
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Assays
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INVESTMENT HIGHLIGHTS
Gold & Copper exposure - 64North Project in Alaska
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The Tintina Province is home to giant sizes gold and copper deposits
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Surrounds world-class operating Pogo Gold Mine 11M oz, ASX:NST
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Pogo-style gold drill targets identified at the Tourmaline Ridge Prospect - drilling planned for mid 2022
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42% interest earned; US$1.15m spend to reach 51% by July 2023
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Built strong geological understanding and jurisdictional expertise
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Refining Cu-Mo-Au porphyry drill targets
Three battery metals projects in Northern Australia
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Wollogorang Project in JV with mid-tier on attractive free carry terms with ability to maintain a 49% interest or be 25% free carried to decision to mine
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Benmara Project proof of concept drilling successful, analogous setting to the worldclass McArthur River Mine, significant interest from mid-tiers and majors
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Carrara Range manganese and other battery metals – recently acquired
Corporate
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The Company reports $2.78m cash at bank on 31 Dec-21
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Strong technical team with track record of exploration success
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FULLY FUNDED by JV Partner OZ Minerals
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DISCLAIMER, JORC INFORMATION & COMPETENT PERSONS STATEMENT
This presentation has been prepared by Resolution Minerals Ltd (Resolution). This document contains background information about Resolution current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sales of shares or other securities in any jurisdiction. This presentation is not a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission (ASIC)) or any other law. This presentation does not constitute investment or financial product advice (nor tax, accounting or legal advice) and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities involve risks which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Resolution, its officers, employees, agents and advisors do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise are accepted. This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Resolution. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law, Resolution does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions, or circumstances on which any such forward looking statement is based.
JORC Information
This report includes results that have previously been released under JORC 2012 by the Company Additional details including JORC 2012 reporting tables, where applicable can be found in the following relevant announcements lodged with the ASX and the Company is not aware of any new data or information that materially affects the information included in the announcements listed; 24 November 2017 as “High Grade First Drill Results - Stanton Cobalt Deposit”, 29 November 2017 as “Further High Grade Cobalt Results - Stanton Cobalt Deposit”, 7 December 2017 as “Stanton Cobalt Resource Remains Open in Multiple Directions”, 22 December 2017 as “Detailed Magnetic Survey over Stanton Cobalt Deposit”, 5 February 2018 as “Final Drilling Results 2017 Drilling Program”, 7 May 2018 as “Stanton Cobalt Resource Diamond Assay Results”, 30 May 2018 as “Regional Cobalt Targets Identified on Wollogorang Project”, 28 August 2018 as “Copper discovered at First Drill Target”, 19 September 2018 as “Copper Discovery Grows at Gregjo Prospect”, 28 September 2018 as “AGM Managing Director's Presentation”, 9 October 2018 as “Copper Intersection Confirms New Model at Running Creek”, 19 October 2018 as “Cobalt System Developing at Running Creek”, 14 December 2018 as “Cobalt, Copper System Confirmed at Running Creek”, 22 January 2019 as ”Geophysics Highlight Potential at Gregjo”, and 9 July 2021 as “VTEM Survey Identifies Multiple Conductors - Wollogorang Project” and on the 64North Project: “2019 AGM Managing Director’s Presentation” on 26 November 2019, “Exploration Update - 64North Project Alaska” on 14 May 2020, “Drilling Update - 64North Project Alaska” on 24 June 2020, “Investor Presentation - Noosa Mining Virtual Conference” on 13 July 2020, “Drilling Commenced at Reflection Prospect - 64North” on 25 August 2020, “Assays and Operations Update 64North Project Alaska” on 10 September 2020, “Boundary Prospect Results at Pogo Trend - 64North Project” on 24 September 2020, “Drilling Results West Pogo Block - 64North Project, Alaska” on 29 September 2020, “Quarterly Report September 2020” on 30 October 2020, “Alaska Miners Association Technical Presentation” on 5 November 2020, “New Claims Added East Pogo – 64North Project, Alaska” on 14 December 2020, “Outcropping Gold System Identified - Assay Results 2020, 64North, Alaska” on 18 January 2021, “Sunrise Prospect assay results confirm Fort Knox Style mineralisation” on 17 May 2021, “Drilling Program Completed at East Pogo Gold Prospect” on 5 July 2021, “East Pogo Drilling Update - 64North Project” on 6 August 2021, “Positive trenching results identify Pogo-style drill targets – Tourmaline Ridge 64North Project” on 24 February 2022 , “Positive Technical study completed – Cu-Au-Mo Porphyry Prospects – Divide Block 64North Project on 25 February
2022 and “Benmara Project Proof of Concept Drilling Successful” on 3 December 2021. The Company is not aware of any new information or data that materially affects the information included in this announcement and all material assumptions and technical parameters underpinning the Mineral Resource continue to apply and have not materially changed.
Competent Persons Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr Duncan Chessell who is a member of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists. Mr Chessell is a Director and full-time employee of the company. Mr Chessell holds Shares, Options and Performance Rights in the Company as has been previously disclosed. Mr Chessell has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Duncan Chessell consents to the inclusion in the report of the matters based on his information in the form in which it is appears.
Project Ownerships
64North Project - RML holds a 42% Interest and is earning to a 60% interest with a pathway to earn up to 80% on a “best block”, see ASX:RML Announcement 31/1/22. Benmara Project - RML has 100% ownership over most tenements and an Option to purchase 100% interest over the remaining tenure, see RML ASX Announcement 27 September 2021. Wollogorang 100% interest with Farm-in Agreement with OZL to earn-in, see RML Announcement 24 August 2021. Carrara Range Project – RML has a 100% ownership (tenement title transfer in progress) ASX Announcement 3 February 2022.
Australian Projects Location Map – source of data Geoscience Australia (LAB 170km Depth Corridor - Hoggard et al 2020), Northern Territory Government of Australia (STRIKE Tenure and Geoscience Information, Queensland Government (Open Data Portal Queensland Mining and Exploration Tenure Series).
Tintinta Gold Province Map – source of data: Kensington (Coeur Mining, www.coeur.com), Pebble (Northern Dynasty, www.northerndynastyminerals.com) , Pogo (Northern Star Resources, www.nsrltd.com), Fort Knox (Kinross, www.kinross.com), Donlin Creek (NovaGold, www.novagold.com), Livengood (International Tower Hill Mines, www.ithmines.com), Eagle & Dublin Gulch (Victoria Gold Corp, www.vgcx.com), Brewery Creek (Golden Predator, www.goldenpredator.com), White Gold (White Gold Corp, whitegoldcorp.ca), Coffee (Newmont, www.newmont.com).
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PROJECT OWNERSHIP SUMMARY
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| 64North Project:42% Interest in 64North Project* | 64North Project:42% Interest in 64North Project* | 64North Project:42% Interest in 64North Project* | 64North Project:42% Interest in 64North Project* | 64North Project:42% Interest in 64North Project* | 64North Project:42% Interest in 64North Project* |
|---|---|---|---|---|---|
| Stage | RML US$ CASH SPEND Required |
% Earn in RML |
RML Shares to Millrock |
Stage Completion Fee US$ |
Due Date* |
| Year 3 | $1.15m | 51% | 10m | $100,000 | 31/7/2023 |
| Right to form JV on co-funding basis or continue to earn-in | |||||
| Year 4 | $2.35m | 60% | 10m | $100,000 | 31/1/2024 |
table above takes up carried forward spend from year 2. RML holds right of first refusal (ROFR) over vendor interest (Millrock Resources). Vendor (Millrock Resources) is a project generator listed on the TSXV: MRO Pathway to 80% on one “best Block” of 9 blocks, by loan carrying vendor to first production. Minor NSR royalties to historic prospectors range from 0% to maximum 1.5% on certain areas with buy downs. One off 6 month “grace period” can extend in any one due date by 6 months. i.e. Year 3 would become 31/7/2023 (as above in table) – see ASX:RML Announcement 31 January 2022 for more details.
| Project | Current Interest |
Details |
|---|---|---|
| Benmara | 100% | Resolution owns primary tenements outright & has the right to purchase EL32229 & EL31287 from Cedar 100% for AUD$250k cash or scrip until 12/9/22 |
| Wollogorang | 100% | IPO Asset 2017, 12.9m Resource (JORC 2012) Milestone Performance Shares expire 6/9/22 Subject to Farm-in Agreement with OZ Minerals (ASX: OZL) • OZL can earn a 51% interest by spending ~$4.9m over 5 years • RML may retain 49% interest by electing to participate from year 6 • If RML elects not to participate, OZL has the option to earn a 75% interest, by sole-funding and delivering a Positive Final Investment Decision to Mine (at a minimum spend of $1m/year OZL has a further 5 years to complete) |
| Carrara Range | 100% | Early Stage new acquisition, undergoing full review. Highly prospective for manganese from surface, battery metals and iron ore. |
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Authorised for release by Duncan Chessell ~~Managing Director Resolution Minerals Ltd~~
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Contact Details
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