Pyra mid Hill Go ld Pro je c t K .F ro st, 26 Se pte mb e r 2019 - - PowerPoint PPT Presentation

Disc o ve rie s in the T a sm a nide s, Mine s & Wine s, Wa g g a Wa g g a

Pyra mid Hill Go ld Pro je c t K .F ro st, 26 Se pte mb e r 2019

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T his pre se nta tio n d o e s no t inc lud e a ll a va ila ble Info rma tio n o n Cha lic e Go ld Mine s L imite d a nd sho uld no t b e use d in iso la tio n a s a g uide to inve sting in the Co mpa ny. Any po te ntia l inve sto r sho uld a lso re fe r to Cha lic e Go ld Mine s L imite d Annua l Re po rts, filing s o n se da r.c o m, a nd to ASX/ T SX/ OT CQB re le a se s a nd ta ke ind e pe nd e nt pro fe ssio na l a d vic e b e fo re c o nsid e ring inve sting in the Co mpa ny. F

• r furthe r info rma tio n a b o ut Cha lic e Go ld Mine s

L imite d , visit the we b site a t c ha lic e g o ld .c o m

F

• rwa rd- L
• oking Sta te me nts

T his d o c ume nt ma y c o nta in fo rwa rd -lo o king info rma tio n within the me a ning o f Ca na dia n se c uritie s le g isla tio n a nd fo rwa rd -lo o king sta te me nts within the me a ning o f the Unite d Sta te s Priva te Se c uritie s L itig a tio n Re fo rm Ac t o f 1995 (c o lle c tive ly, fo rwa rd -lo o king sta te me nts). T he se fo rwa rd -lo o king sta te me nts a re ma d e a s o f the da te o f this d o c ume nt a nd Cha lic e Go ld Mine s L imite d (the Co mpa ny) d o e s no t inte nd , a nd d o e s no t a ssume a ny

• b lig a tio n, to upd a te the se fo rwa rd -lo o king sta te me nts. F
• rwa rd -lo o king sta te me nts re la te to future e ve nts o r future pe rfo rma nc e a nd re fle c t Co mpa ny ma na g e me nt’ s e xpe c ta tio ns o r b e lie fs re g a rding future e ve nts a nd

inc lud e , b ut a re no t limite d to , the like liho o d o f e xplo ra tio n suc c e ss inc luding re sults o f future g e o physic a l surve ys, d rilling a t the Co mpa ny’ s pro je c ts a nd o the r e xplo ra tio n a c tivitie s; the timing a nd c o sts o f future e xplo ra tio n a c tivitie s o n the Co mpa ny’ s e xplo ra tio n pro je c ts; the po te ntia l to d e fine future mine ra l re so urc e s a nd , if suc c e ssful a t a ny o f the Co mpa ny’ s e xplo ra tio n pro je c ts, the po te ntia l via bility o f a ny mine ra l re so urc e so d e fine d ; pla nne d e xpe nditure s a nd b ud g e ts a nd the e xe c utio n the re o f; the timing a nd a va ila bility o f d rill re sults; po te ntia l site s fo r d rilling , tha t g e ne ra l b usine ss a nd e c o no mic c o nditio ns will no t c ha ng e in a ma te ria lly a d ve rse ma nne r; the timing a nd a mo unt o f e stima te d future pro d uc tio n, c o sts o f pro d uc tio n, c a pita l e xpe nditure s, suc c e ss o f mining o pe ra tio ns, e nviro nme nta l risks, una ntic ipa te d re c la ma tio n e xpe nse s, title dispute s o r c la ims a nd limita tio ns o n insura nc e c o ve ra g e . In c e rta in c a se s, fo rwa rd -lo o king sta te me nts c a n be id e ntifie d b y the use o f wo rd s suc h a s “pla ns”, “pla nning ”, “e xpe c ts” o r “d o e s no t e xpe c t”, “is e xpe c te d ”, “will”, “ma y”, “wo uld ”, “po te ntia l”, “b ud g e t”, “sc he d ule d ”, “e stima te s”, “fo re c a sts”, “inte nds”, “pro spe c ts” “a ntic ipa te s” o r “d o e s no t a ntic ipa te ”, “b e lie ve s”, “o c c ur”, “b e a c hie ve d ”, o r va ria tio ns o f suc h wo rd s a nd phra se s o r sta te me nts tha t c e rta in a c tio ns, e ve nts o r re sults ma y, c o uld , wo uld , mig ht o r will b e ta ke n, o c c ur o r b e a c hie ve d o r the ne g a tive o f the se te rms o r c o mpa ra b le te rmino lo g y. By the ir ve ry na ture fo rwa rd -lo o king sta te me nts invo lve kno wn a nd unkno wn risks, unc e rta intie s a nd o the r fa c to rs whic h ma y c a use the a c tua l re sults, pe rfo rma nc e o r a c hie ve me nts o f the Co mpa ny to b e ma te ria lly diffe re nt fro m a ny future re sults, pe rfo rma nc e o r a c hie ve me nts e xpre sse d o r implie d by the fo rwa rd -lo o king sta te me nts. Suc h fa c to rs ma y inc lud e , a mo ng o the rs, risks re la te d to a c tua l re sults o f c urre nt o r pla nne d e xplo ra tio n a c tivitie s; c ha ng e s in e xplo ra tio n pro g ra mme s ba se d upo n re sults o f e xplo ra tio n; future pric e s o f c o mmo d itie s; g e o physic a l a no ma lie s ma y o r ma y no t b e a sso c ia te d with e c o no mic mine ra lisa tio n; g ra de o r re c o ve ry ra te s; a c c ide nts; la b o ur dispute s a nd o the r risks o f the mining ind ustry; d e la ys in o b ta ining g o ve rnme nta l a ppro va ls o r fina nc ing o r in the c o mple tio n o f d e ve lo pme nt o r c o nstruc tio n a c tivitie s, mo ve me nts in the pric e o f O3 Mining Inc . a nd Spe c trum Me ta ls L imite d se c uritie s a nd future pro c e e d s fro m po te ntia l sa le o f tho se se c uritie s, the timing a nd re c e ipt o f e xplo ra tio n ta x c re dits a s we ll a s tho se fa c to rs d e ta ile d fro m time to time in the Co mpa ny’ s inte rim a nd a nnua l fina nc ia l sta te me nts, a ll o f whic h a re file d a nd a va ila b le fo r re vie w o n SE DAR a t se da r.c o m, ASX a t a sx.c o m.a u a nd OT C Ma rke ts a t o tc ma rke ts.c o m. Altho ug h the Co mpa ny ha s a tte mpte d to id e ntify impo rta nt fa c to rs tha t c o uld c a use a c tua l a c tio ns, e ve nts o r re sults to d iffe rma te ria lly fro m tho se de sc ribe d in fo rwa rd -lo o king sta te me nts, the re ma y b e o the r fa c to rs tha t c a use a c tio ns, e ve nts o r re sults no t to b e a s a ntic ipa te d , e stima te d o r inte nd e d. T he re c a n b e no a ssura nc e tha t fo rwa rd -lo o king sta te me nts will pro ve to b e a c c ura te , a s a c tua l re sults a nd future e ve nts c o uld d iffe rma te ria lly fro m tho se a ntic ipa te d in suc h sta te me nts. Ac c o rd ing ly, re a d e rs sho uld no t pla c e und ue re lia nc e o n fo rwa rd -lo o king sta te me nts.

Compe te nt Pe rson a nd Qua lifying Pe rsons Sta te me nt

T he Info rma tio n in this pre se nta tio n tha t re la te s to the e xplo ra tio n re sults fo r the Pyra mid Hill Pro je c t is e xtra c te d fro m ASX a nno unc e me nts e ntitle d “Cha lic e se c ure s e xte nsive stra te g ic po sitio n in hig hly pro spe c tive no rthe rn Be ndig o re g io n, Vic to ria ”, “Cha lic e ide ntifie s two 12km+ g o ld -in-so il a no ma lie s a t Pyra mid Hill Pro je c t, Be ndig o ”, “Cha lic e se t to d rill la rg e -sc a le g o ld ta rg e ts a t Pyra mid Hill Go ld Pro je c t, Vic to ria ”, “Re c o nna issa nc e d rilling a t Pyra mid Hill Go ld Pro je c t c o ntinue s to o utline hig h-prio rity ta rg e t a re a s”, “Sha llo w drilling hits g o ld in ba se me nt a nd o utline s thre e hig h prio rity ta rg e ts fo r fo llo w-up a t the Pyra mid Hill Go ld Pro je c t, Vic to ria ” a nd “Drilling to re c o mme nc e a t the Pyra mid HillGo ld Pro je c t in la te Se pte mb e r” re le a se d o n 26 F e b rua ry 2018,12 July 2018, 27 Se pte mb e r2018, 19 Ma rc h 2019, 8 July 2019 a nd 2 Se pte mb e r2019 re spe c tive ly. T he Info rma tio n in this pre se nta tio n tha t re la te s to e xplo ra tio n re sults fo r the K ing L e o po ld Pro je c t is e xtra c te d fro m ASX a nno unc e me nt e ntitle d “Cha lic e a c q uire s hig hly pro spe c tive nic ke l sulphid e pro je c t in we st K imbe rle y re g io n o f WA” a nd “Stro ng E M Co nd uc to rs Id e ntifie d a t K ing L e o po ld Pro je c t” re le a se d o n 18 June 2019 a nd 20 Aug ust 2019. T he a b o ve a nno unc e me nts a re a va ila ble to vie w o n the Co mpa ny’ s we bsite a t c ha lic e g o ld .c o m. T he Co mpa ny c o nfirms tha t it is no t a wa re o f a ny ne w info rma tio n o r d a ta tha t ma te ria lly a ffe c ts the info rma tio n inc lud e d in the re le va nt o rig ina l ma rke t a nno unc e me nts. T he Co mpa ny c o nfirms tha t the fo rm a nd c o nte xt in whic h the Co mpe te nt Pe rso n a nd Qua lifie d Pe rso n’ s finding s a re pre se nte d ha ve no t b e e n ma te ria lly mo difie d fro m the re le va nt o rig ina l ma rke t a nno unc e me nts.

F

• rwa rd lo o king sta te me nts a nd disc lo sure s

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Pre se nta tion Outline

1. Company Ove r vie w 2. Be ndigo Zone – r e gional datase ts and de posit fe atur e s 3. Be ndigo Zone – de ve lopme nt dur ing 2017- 2019 4. Pyr amid Hill – E ar ly- stage e xplor ation r e sults sinc e initial land gr ab in late 2017 5. Conc lusions

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A uniq ue , we ll- funde d e xplo ra tio n b usine ss

Distric t- sc a le e xplora tion proje c ts in hig h- g ra de provinc e s of Austra lia

• T

ie r-1 (>US$1b n NPV) disc o ve ry mo de l

• Go ld unde rc o ve r in Nth Be ndig o Zo ne (Vic to ria )
• Nic ke l sulphide s in fro ntie r we st K

imb e rle y (WA)

1

Strong fina nc ia l position

• ~A$33M in wo rking c a pita l a nd inve stme nts

(~A$0.12 pe r sha re )

• No c a pita l ra ise d sinc e 2011

2 3

T ra c k re c ord of va lue c re a tion

• ~A$107M a fte r-ta x pro c e e ds g e ne ra te d fro m

multiple we ll time d a sse t sa le s

• ~A$36M re turne d to sha re ho lde rs sinc e 2012

(A$0.14 pe r sha re )

Dr illing at Pyr amid Hill Gold Pr

• je c t, De c -2018

5

• 2. Re g io na l

da ta se ts a nd de po sit fe a ture s

Pyra mid Hill Go ld Pro je c t, Vic to ria

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Why g o e xploring unde rc ove r in the Be ndig o Zone ?

• Go ld e ndo wme nt o f >60Mo z a lmo st e ntire ly fro m o utc ro pping /

surfa c e disc o ve rie s

• Go ld de po sits a nd o c c urre nc e s sto p a t the c o nta c t with the Murra y

Ba sin c o ve r? ie - tra ditio na l e xplo ra tio n te c hniq ue s (pro spe c ting , dire c t sa mpling ) hinde re d b y po st mine ra l c o ve r

• Histo ric e xplo ra tio n sho ws the sa me Be ndig o Zo ne ho st ro c ks

(Ca stle ma ine Gro up) c o ntinue b e ne a th the Murra y Ba sin c o ve r

• Re g io na l g o ld c o ntro lling struc ture s a re inte rpre te d to c o ntinue

unde rc o ve r

• Hig h-g ra de g o ld disc o ve rie s no rth o f Be ndig o (T

a nda rra , F

• ur E

a g le s) a re e vide nc e tha t the sa me g o ld e ve nt c o ntinue s unde rc o ve r

• Ne xt fr
• ntie r

for gold e xplor ation is the Be ndigo Zone unde r Mur r ay Basin c ove r

F

• ste r

ville 8.6Moz Au

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Supe rb da ta se ts with dire c t a pplic a tion to g old e xplora tion

GSV/ GA da ta se ts, public a tions

• Gold Unde r

c ove r initiative (2007- 2010):

• Ava ila b le e xplo ra tio n da ta se ts sug g e st the Be ndig o Zo ne

g e o lo g y unde r Murra y Ba sin c o ve r is the sa me a s tha t in e xpo se d a re a s. – ie e q uiva le nt Au pro spe c tivity

• Re g io na l fa ults ha ve sig nific a nt strike le ng ths (+100km) a nd

e xte nd no rth unde r Murra y Ba sin c o ve r

• Asse ssme nt o f g o ld e ndo wme nt sho ws po te ntia l fo r a n

undisc o ve re d c .32mo z Au in the no rthe rn Be ndig o Zo ne

• Se ismic Re fle c tion sur

ve y

• Pro vide d b a sis fo r inte rpre ting c rusta l-sc a le g e o lo g y
• Re g io na l struc ture s c o ntro lling g o ld de po sits a re c rusta l sc a le

we st-dipping listric fa ults

• Cha lic e c o mmissio ne d third pa rty to re -pro c e ss se ismic da ta
• ve r the se c tio n 06GA-V2)to e nha nc e sha llo w fe a ture s
• Air

bor ne and gr

• und ge ophysic al datase ts:
• Cruc ia l fo r e xplo ring unde rc o ve r
• Ma g ne tic s: g o o d fo r de fining g ra nite intrusio ns, po o r fo r

de fining struc ture in b a se me nt

• Gra vity: e xc e lle nt da ta se ts fo r de fining sha llo w fe a ture s (ie

b urie d b a se me nt hills) (1.5km-0.5km sta tio ns) ve ry impo rta nt da ta se t a s ma g ne tic s sho w minima l te xture due to na ture o f Ca stle ma ine Gp turb idite s

Ma g ne tic s (T MI RT P Gra vity (Boug e r) Ra diome tric (U- K- T h)

8

Cha ra c te ristic fe a ture s of g old de posits in the Be ndig o Zone

F

• ste rville (Kirkla nd L

a ke )

• Mo de ra te -we st dipping fa ults (45-65 °W) pro pa g a te fro m

a ntic lina l hing e zo ne s a nd sho w disc o rda nt-c o nc o rda nt se tting re la tive to b e dding

• 4km tre nd (F
• ste rville F

a ult) o f sha llo w-so uth plung ing o re sho o ts(15-20°S) typic a lly +1500m do wn-plung e , 50-150m dip e xte nt, 4-15m thic k

• Go ld mine ra lisa tio n ho ste d in q ua rtz/ c a rb o na te ve ins/

sto c kwo rks/ se lva g e s a nd a sso c ia te d with e ithe r fine -g ra ine d sulphide (pyrite , a rse no pyrite ), stib nite o r a s VG.

T andar r a, F

• ur

E agle s (Catalyst Me tals)

• Ste e p-we st dipping fa ults (c 50-70 °W) po sitio ne d pro xima l to

a ntic lina l hing e zo ne s

• Sha llo w-so uth plung ing o re sho o ts(sub ho rizo nta l-10°S) typic a lly

+500m-3km a lo ng -plung e

• Go ld mine ra lisa tio n ho ste d in q ua rtz ve ins/ b re c c ia s – Au

a sso c ia te d with fine - gr

aine d sulphide (pyrite , a rse no pyrite ) a nd

VG

Impor tant guide line s for e xplor ation

• Drilling o n wide -spa c e d line s (1.5-3km) sho uld inte rse c t a t le a st

pe riphe ra l mine ra lisa tio n due to the sha llo w-plung ing

• rie nta tio n o f mine ra lisa tio n lo de s
• Ore sho o ts a re na rro w with limite d de pth e xte nt - minimise ho le

spa c ing a lo ng drill line s (100m o r le ss se pa ra tio n)

• Se c o nda ry dispe rsio n o f Au a t c o ve r/ b a se me nt inte rfa c e a nd

within pre se rve d sa pro lite o ve r Ca stle ma ine Gp b a se me nt ho st F

• ste rville

Be ndig o

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Mining and E xplor ation r e sults c ontinue to impr e ss thr

• ughout 2017- 2019

Kirkla nd L a ke Gold – F

• ste rville ope ra tion
• Ja n 2017 – b e st e ve r UG drill re sults fro m ne wly disc o ve re d L
• we r Pho e nix F
• o twa ll Zo ne (we st-d ipping fa ult)

de mo nstra te inc re a sing g ra de pro file with de pth:

• 15.15m @ 1,429 g / t Au (UDH1817)
• 7.2m @ 356 g / t Au (UDH1943)
• July 2017 – upg ra de d UG Mine ra l Re se rve 1.03Mo z @ 17.9 g / t Au. I

nc lude s Swa n Zo ne 532ko z @ 58.8g / t Au

• Aug 2017 – impre ssive drill inte rc e pt c o ntinue – Cha lic e pe g s c . 3,500km 2 o f E

L a pplic a tio ns

• F
• ste rville Mine ra l Re so urc e M+I

+I = 8.6Mo z Au a nd Mine ra l Re se rve 2.7Mo z @ 31g / t Au (De c 2018)

• 2019 pro duc tio n g uida nc e 570-610ko z p.a . a nd o pe ra ting c a sh c o sts US$130-150/ o z

Ca ta lyst Me ta ls – White la w Gold Corridor – inc l. F

• ur E

a g le s (JV with Ha nc oc k Prospe c ting ) a nd T a nda rra (JV with Na va rre Mine ra ls), North Be ndig o

• I

mpre ssive hig h-g ra de a nd sha llo w e xplo ra tio n drill re sults c o ntinue d in 2018-2019

• F
• ur E

a g le s Pro je c t: Au mine ra lisa tio n inte rse c te d o ve r c . 2.5km strike le ng th; 20m @ 21.4g / t Au; 22m @ 36.5g / t Au (Ha ya nmi)

• Go ld mine ra lisa tio n pro ve n to e xte nd no rth o f Be ndig o unde r Murra y Ba sin c o ve r a lo ng strike fro m

kno wn g o ld de po sits/ c a mps!!

• Go ld mo stly fine with lo w nug g e t e ffe c t
• E

xplo ra tio n c a n b e suc c e ssful unde r Murra y Ba sin c o ve r!

11

Austra lia n Prima ry Go ld Ope ra tio ns c o st c urve (US$)

F

• ste rville

12

• 3. Explo ra tio n

Re sults

Pyra mid Hill Go ld Pro je c t, Vic to ria

13

T e nure a nd a c c e ss

• Cha lic e ’ s te nure c o ve rs thre e ke y

unde rc o ve r distric ts, with minima l histo ric e xplo ra tio n:

• Muc kle for

d: W / NW o f Be ndig o ,

Cha lic e ’ s initia l fo c us

• Mt William: NE
• f F
• ste rville
• Pe r

c ydale : NW o f St Arna ud

• L

a nd use is pre do mina ntly lo w inte nsity a g ric ulture (mix o f c ro ps a nd g ra zing )

• Priva te la nd a c c e ssib le a ll ye a r ro und
• Cro pping o n c e rta in a re a s re stric ts drilling

fo r 3-4 mo nths a ye a r

• All ac c e ss agr

e e me nts in plac e fo r ne xt

pha se o f drilling to c o mme nc e in la te Se pt 2019

F

• ur

E agle s (Catalyst- Hanc oc k Pr

• spe c ting)

T andar r a (Catalyst-Navar r e )

Navarre Mine rals Provide nc e Gold Catalyst Me tals E xc lusion Zone

Mt Willia m Muc kle ford Pe rc yda le

Be ndigo Zone Stawe ll Zone Me lbour ne Zone Be ndigo 22Moz @ ~15g/ t Au F

• ste r

ville 8.6Moz @ ~12g/ t Au (inc l. 2.7Moz r e se r ve @ 31g/ t Au) Pove r ty Re e f 0.4Moz @ ~92g/ t Au St Ar naud 0.4Moz @ ~15g/ t Au

MGA 94 Zone 55

Chalice targets

Kar r i Ir

• nbar

k Be e c h

14

Pro je c t a dva nc e d fro m a la rg e ly c o nc e ptua l pla y to a n a c tive g re e nfie lds pro je c t o ve r the la st 18 mo nths

Pr e - Chalic e

Minima l mo d e rn e xplo ra tio n a nd limite d a tte mp ts a t sha llo w d rilling und e rc o ve r – ve ry fe w e ffe c tive d rill ho le s

Mar

• De c 2018

F ie ld wo rk c o mme nc e d – BL E G so il sa mpling a nd g ro und g ra vity g e o physic s (Muc kle fo rd )

De c 2017

1400km 2 sta ke d in No rth Be nd ig o Zo ne (Muc kle fo rd )

Mar 2018

Ad d itio na l 1700km 2 sta ke d (Muc kle fo rd e xpa nsio n a nd Mt Willia m)

Oc t- Nov 2018

BL E G so il sa mpling (Mt Willia m)

Nov 2018 – May 2019

Re c o nna issa nc e AC d rilling a t Muc kle fo rd (35,000m Pha se 1)

Jul 2018

Ad d itio na l 700km 2 sta ke d (Pe rc yd a le )

Mar 2019

Re c o nna issa nc e AC d rilling a t Mt Willia m (4,000m Pha se 1) So il sa mpling (Pe rc yd a le )

Nov 2017

K irkla nd L a ke Go ld hit 8.8m @

991g/ t Au, inc l. 0.95m @ 9,115g/ t Au, ~200m b e lo w

Mine ra l Re se rve s

Jul 2017

K irkla nd L a ke Go ld a nno unc e d ma id e n Swa n Zo ne re se rve 532ko z @ 58.8g / t Au

July 2019

Ano ma lo us g o ld inte rc e pts in b e d ro c k

• utlining thre e la rg e -

sc a le ta rg e ts

2017 2018 2019

15

AC Drill T a rg e ting

Ad a p te d fro m Arne e t a l. (2008). L itho g e o c he mic al halo e s surro unding c e ntral Vic to rian g o ld de po sits (Ge o sc ie nc e Vic to ria Go ld Unde rc o ve r Re po rt 4). De p a rtme nt o f Prima ry I nd ustrie s, Vic to ria .

• AC drilling ha s pro ve n the mo st

e ffe c tive to o l fo r ide ntifying se c o nda ry/ prima ry b a se me nt g o ld mine ra lisa tio n

• Sa me ta rg e ting a ppro a c h ha s

pro ve n suc c e ssful with the disc o ve ry o f Au mine ra lisa tio n e lse whe re in the Be ndig o unde rc o ve r re g io n

• Go ld/ pa thfinde r me ta ls

c o nc e ntra te a s a se c o nda ry (supe rg e ne ) dispe rsio n zo ne within a re do x zo ne in sa pro lite a fte r b a se me nt

• Prima ry g o ld mine ra lisa tio n

ide ntifie d a t o ne ta rg e t (I ro nb a rk) AC drilling a ssists with g e o lo g ic a l inte rpre ta tio n to de fine b ro a d litho lo g ic a l units inc luding sa ndsto ne s, sha le -to ppe d sa nds, sha le s a nd c a rb o na c e o us sha le s

16

Muc kle ford - Ironba rk a nd Ka rri T a rg e ts

• ~39km o f sha llo w re c o n AC drilling c o mple te d with the

fo c us o n ta rg e ts lo c a lise d a dja c e nt to the ma jo r re g io na l struc ture s (Ca mpb e llto wn, Muc kle fo rd, Se b a stia n fa ults)

• Go ld inte rse c te d b o th in sa pro lite a nd we a kly we a the re d

dio rite indic a te s the g o ld is fro m a prima ry b e dro c k so urc e

• I

ro nb a rk is a sso c ia te d with a stro ng a nd e xte nsive g o ld + pa thfinde r so il a no ma ly a nd c e ntre d o ve r se ve ra l inte rpre te d dio rite intrusio ns

• Sha llo w g o ld inte rse c tio ns o n drill line s kilo me tre s a pa rt a t

K a rri po te ntia lly indic a te s a strike e xte nsive g o ld syste m

• F

a vo ura b le struc tura l se tting a dja c e nt to the Ca mpb e llto wn a nd Muc kle fo rd fa ults

17

Ironba rk T a rg e t (Muc kle ford Are a )

Chalic e dr ill inte r c e pt Histor ic dr ill inte r c e pt 0.1 – 0.4 0.05 – 0.1 0.025 – 0.05 <0.05 Pyr amid Hill Pr

• je c t T

e nur e L imit of outc r

• p

Gr anitoid Mine r alise d tr e nd Planne d gr

• und mag svy

Planne d Phase 2 AC c ollar s Phase 1 AC max Au (g/ t)

• Wide -spa c e d AC drilling (3km-spa c e d line s) unde rta ke n to

te st a c o inc ide nt g ra vity a no ma ly a nd surfa c e BL E G so il a no ma ly (We st Ano ma ly) in vic inity o f the Ca mpb e llto wn fa ult

• AC drilling a lo ng We st L
• ddo n Rd (ro a dsid e ve rg e drilling )

tra ve rse d fro m the e a ste rn ma rg in o f the We d de rb urn Gra nite thro ug h the pre sume d Ca stle ma ine Gro up se dime nts b e lo w Murra y Ba sin c o ve r (<70m thic k)

• T

hre e AC ho le s inte rse c te d a n e q uig ra nula r ho rnb le nde - pla g io c la se intrusive

• Go ld inte rse c te d in we a the re d b a se me nt indic a te s the g o ld is

fro m a prima ry b e dro c k so urc e

• I

ro nb a rk ta rg e t a sso c ia te d with la rg e g o ld + pa thfinde r so il a no ma ly (700m a c ro ss strike a t+25ppb Au) c e ntre d a ro und se ve ra l inte rpre te d intrusio ns

• Sub se q ue ntly unde rta ke n g ro und ma g ne tic s surve ys o ve r

I ro nb a rk a nd a no the r ta rg e t 3km NW whic h ha s a simila r intrusio n-like o utline . Po te ntia lly dyke -like ma g a no ma lie s tha t

• c c ur in sa me vic inity – po te ntia lly mo re e xte nsive intrusio ns

Muc kle ford Are a Ka rri Ironba rk

N

4m @ 0.29g/ t Au f/ 52m 8m @ 0.11g/ t Au f/ 84m 8m @ 0.14g/ t Au f/ 40m 4m @ 0.15g/ t Au f/ 76m

Dior ite Intr usive T ar ge ts

Unde r Cove r Outc rop

Ir

• nbar

k T ar ge t >5ppb Au in soil outline

4m @ 0.23g/ t Au f/ 53m 5m @ 0.45g/ t Au f/ 81m Inc l. 1m @ 1.1g/ t Au

Ir

• nbar

k T ar ge t (25- 75m c ove r )

1VD RT P Ae r

• ma g ne tic s

1km

18

Ironba rk T a rg e t (Muc kle ford Are a )

• Pe tro g ra phy c o nfirms the intrusio n is a hig hly pro spe c tive F

e -ric h, hydro us dio rite

• Ho le PA-245 inte rse c te d g o ld b e a ring q ua rtz ve ining in dio rite
• Dio rite -g a b b ro dyke s (Wo o ds Po int dyke swa rm) e ithe r dire c tly

ho st o r a re c lo se ly a sso c ia te d with the Wo o ds Po int-Wa lha lla g o ldfie ld (6Mo z). T he histo ric Co he n’ s Re e f de po sit (~1.5Mo z a t ~32g / t Au) a nd o the r intrusio n-ho ste d de po sits inc luding Wo o ds Po int, A1(Me lb o urne Zo ne ).

• T

he Au mine ra lisa tio n a t I ro nb a rk is ho ste d b y c o mpo sitio na lly simila r ho rne b le nde q ua rtz dio rite s, a nd o n the a ssumptio n tha t the ne wly disc o ve re d dio rite intrusio ns a re o f simila r a g e to the Wo o ds Po int dyke swa rm (375Ma ), the n the g o ld e ve nt is c le a rly yo ung – po ssib ly F

• ste rville a g e

Ho rnb le nde -b io tite q ua rtz dio rite : PA-245; 85-86m

Quite unique for Be ndigo Zone  a ne w high pr ior ity tar ge t style

19

Ka rri T a rg e t (Muc kle ford Are a )

Chalic e dr ill inte r c e pt Histor ic dr ill inte r c e pt 0.1 – 0.4 0.05 – 0.1 0.025 – 0.05 <0.05 Gr anitoid Mine r alise d tr e nd Planne d Phase 2 AC c ollar s Phase 1 AC max Au (g/ t)

Muc kle ford Are a Ka rri Ironba rk

Kar r i T ar ge t (50- 70m c ove r )

1km

MGA94 Zone 54

~15km Kar r i mine r alise d tr e nd

30m @ 220ppm As f/ 70m 2m @ 0.11g/ t Au f/ 74m to BOH 4m @ 0.23g/ t Au f/ 129m 16m @ 0.15g/ t Au f/ 62m Inc l. 1m @ 0.66g/ t Au

Ca mpb e llto wn F a ult

350m wide zone with >25ppb Au + proximal T e , Bi, Cu, Zn, Co, S

2km

N

1VD Gr a vity

• T

a rg e t lo c a te d 25km no rth o f I ro nb a rk

• Wide -spa c e d AC drilling (7km-spa c e d

line s) ta rg e te d a pro mine nt g ra vity a no ma ly lo c a te d a dja c e nt to Ca mpb e llto wn fa ult

• AC drilling a lo ng e a st-we st

ro a ds(ro a dside ve rg e drilling ) tra ve rse d fro m the e a ste rn ma rg in o f the We d de rb urn Gra nite thro ug h the pre sume d Ca stle ma ine Gro up se dime nts b e lo w Murra y Ba sin c o ve r

• T

wo line s o f AC ho le s inte rse c te d supe rg e ne g o ld (16m @ 0.15 g / t Au; 4m @ 0.23 g / t Au) within a zo ne o f stro ng As a nd/ o r T e , Bi a no ma lism within the we a the re d to p o f Ca stle ma ine Gro up se dime nts

• Plan to infill AC dr

illing on 1km-0.5km spac e d se c tions to r e fine footpr int of supe r ge ne zone and te st for base me nt mine r alisation

20

Conc lusions

• Cha lic e re c og nise d a n e a rly opportunity to a c quire prospe c tive g round in a T

ie r- 1 g oldfie ld

• Pre vious e xplore rs found diffic ulty de fining ta rg e ts unde r Murra y Ba sin c ove r –

la rg e proportion of historic drilling fa ile d to drill/ sa mple ba se me nt

• Cha lic e drilling to da te ha s ta rg e te d strike e xte nsions of re g iona l fa ults whic h

c ontrol g old mine ra lisa tion in the Be ndig o Zone

• Be ndig o Zone (Ca stle ma ine Gp) e ffe c tive ly sa mple d be ne a th Murra y

Ba sin/ Pe rmia n tillite c ove r

• Cha lic e a pproa c h is to sc re e n for la rg e g old syste ms throug h we ll c onc e ive d

e xplora tion mode ls ba se d on the footprint of known g old c a mps – initia l drilling ta rg e te d se c onda ry dispe rsion footprint

• Ne w diorite - hoste d Au mine ra lisa tion disc ove re d in first drilling a t Ironba rk –

implic a tions for a ne w style of g old mine ra lisa tion a t Muc kle ford

• Pha se 2 AC drilling (~25,000m) to c omme nc e shortly a t Ironba rk a nd Ka rri a nd
• the r ta rg e ts to re fine se a rc h spa c e

21

T ha nk Yo u

L e ve l 2, 1292 Ha y Stre e t, We st Pe rth WA 6005, Austra lia info @ c ha lic e g o ld.c o m +61 8 9322 3960 twitte r.c o m/ c ha lic e g o ld linke din.c o m/ c o mpa ny/ c ha lic e -g o ld-mine s www.c ha lic e g o ld.c o m