Shareholder Presentation
Annual General Meeting, Perth
November 2019
ASX: KIN
Disclaimer
Disclaimer
This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of securities, investors should rely on their own examination of Kin Mining NL and consult their own legal, business and/or financial advisers.
The information contained in this presentation has been prepared in good faith by Kin Mining NL, however no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, Kin Mining NL, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted from this presentation.
Forward-Looking Statements
This release contains "forward-looking information" that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the feasibility and definitive feasibility studies, the Company's' business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and operational expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely',' believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company's Prospectus dated October 2014.
This list is not exhausted of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law. Statements regarding plans with respect to the Company's mineral properties may contain forward-looking statements in relation to future matters that can be only made where the Company has a reasonable basis for making those statements. This announcement has been prepared in compliance with the JORC Code 2012 Edition and the current ASX Listing Rules. The Company believes that it has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any mining of mineralised material, modifying factors and production targets and financial forecasts.
Competent Person's Statement
The information contained in this report relating to Resource Estimation results relates to information compiled by Mr Jamie Logan. Mr Logan is a member of the Australian Institute of Geoscientists and is a full time employee of the company. Mr Logan has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".
Mr. Logan consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
The information in this report that relates to 2017 Mineral Resources is based on information reviewed and compiled by Dr. Spero Carras of Carras Mining Pty Ltd (CM). Dr. Carras is a Fellow of the Australasian Institute Mining and Metallurgy (AusIMM) and has over 40 years experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Mark Nelson, Consultant Geologist to CM with over 30 years experience and is a Member of the Australasian Institute Mining and Metallurgy (AusIMM) with sufficient experience in the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Gary Powell Consultant Geologist to CM with over 30 years experience and is a Member of the Australasian Institute Mining and Metallurgy (AusIMM) and the AIG with sufficient experience in the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".
CM also acted as auditors of the 2009 McDonald Speijers resource estimates for Eclipse, Quicksilver, Forgotten Four and Krang.
Dr. S. Carras, Mr. Mark Nelson and Mr. Gary Powell consent to the inclusion in the report of the matters based on their information in the context in which it appears.
The information contained in this report relating to exploration results relates to information compiled or reviewed by Glenn Grayson. Mr. Grayson is a member of the Australasian Institute of Mining and Metallurgy and is a full time employee of the company. Mr. Grayson has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".
Mr. Grayson consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
2
Cardinia Gold Project
Delivering a more robust, higher returning gold project
Advanced gold project located
30km east of Leonora
in the heart of a gold mining region characterised by large mineral deposits
Select early works completed and key
components of the Processing
Facility already acquired
Mineral Resource of 841koz defined in both supergene and deeper primary mineralisation with considerable potential to grow
Controlling 414km2 position in
a large greenstone belt
which has not yet been
effectively explored
Pre-Feasibility Study
demonstrates positive project returns for an 8+ year mine life producing an average 51koz gold per annum for the first 5 years
Exploration programs
continuing with potential for
further resource
expansions and new regional discoveries
3
Corporate Overview
ASX: KIN
Share price (19 Nov 2019) | A$0.039 |
Ordinary shares on issue | 571.0M |
Options (exercise $0.27 - $1.25) | 25.0M |
Shareholders
High Net Worths
Retail Investors
Directors
65%
Market capitalisation (undiluted) | $22.3M |
Cash (Proforma 30 September) | $4.5M* |
Debt | Nil |
Liquidity (avg. daily traded shares) | 531,000 |
*Placement funds of $0.9M received 21 October 2019 and | |
underwritten Entitlement Offer of $2.2M received 8 November |
Board of Directors
Andrew Munckton | Managing Director |
Joe Graziano | Chairman |
Brian Dawes | Non-Executive Director |
Nicholas Anderson | Non-Executive Director |
Hansjoerg Plaggemars | Non-Executive Director |
Institutional | 31% |
2% 2%
Share price - 12 months
4
Pre-Feasibility Study Outcomes
A viable development project with significant leverage to the Australian dollar gold price
- An 8+ year mine life producing an average 51koz gold per annum for the first five years
- Potential to improve forecast returns by displacing higher cost ounces introduced in year three from the Mertondale region
PROJECT ECONOMICS
Base Case gold price (A$) | $2,000/oz | $2,200/oz |
Exchange Rate (US$:A$) | 0.70 | 0.70 |
Life of Mine Revenue (A$) | $736.2M | $809.8M |
C1 Cash Costs 2 | $1,284/oz | $1,284/oz |
Adjusted Operating Costs 3 | $1,349/oz | $1,349/oz |
All-In-Sustaining Costs 4 | $1,442/oz | $1,442/oz |
Pre-Tax Operating Cash Surplus | $128.4M | $199.8M |
Net Present Value (NPV8%) | $66.8M | $118.0M |
Internal Rate of Return (IRR) | 17% | 29% |
- Cut-offgrade 0.5 g/t Au
2 C1 Cash Costs (C1) includes all mining, surface haulage, processing, refining, by-product credits and onsite overhead costs 3 Adjusted Operating Costs (AOC) includes C1 costs plus royalties
4 All-In-Sustaining Costs (AISC) includes AOC plus closure costs and sustaining capital, but excludes head office corporate costs and Tax Totals may vary due to rounding | 5 |
Processing Centre
Development foundations established
- Processing 11.4Mt at 1.09g/t Au (398koz) to deliver 368koz of recovered gold over Life of Mine (8.2 years)
- Development based on two open pit mining centres at Cardinia and Mertondale which feed a 1.5Mtpa conventional CIL processing plant located at Cardinia
Lawlers process plant - ball mill and crushing plant
Cardinia process plant site works
6
Cardinia Gold Project
Delivering a more robust, higher returning gold project
Work programs underway and upcoming:
1
2
3
4
5
Pre-Feasibility Study: Updated in August 2019 and confirms a viable development pathway
Funding: Capital raising of $3.1M undertaken in October 2019 to support forward work programs
Geophysics: Trial geophysical surveys underway as proof of concept for targeting new deposits located under areas of shallow cover
Upcoming drilling: Drilling of new geophysical and other targets expected to recommence in early 2020
Value enhancement: Ongoing assessment of regional consolidation opportunities with the objective of fast-tracking an improved CGP mining inventory
7
Exploration
8
Minerie Greenstone Belt
A large mineralised system with outstanding discovery potential
- Controlling 414km2 landholding in an underexplored greenstone belt which has yielded multiple deposits
- Large alteration systems identified - related to gold mineralisation
- Majority of drilling has focused on shallow oxide targets in areas of historic workings and sub-crop
- Extensive areas of known +5g/t Au mineralisation outside the current 841Moz Mineral Resource
- Over 60% of the tenure is under recently transported cover and has seen little modern exploration
- Primary mineralisation potential below 100m remains largely untested throughout the region
Mertondale 5
Eclipse, Tonto
Quicksilver
Mertondale 2, 3-4
Gambier Lass
Bruno-Lewis
Websters
Michelangelo
Randwick
Hobby
Helens
CGP Exploration Potential
Applying geological learnings throughout the Cardinia region
- More than 60% of the CGP is covered with recently transported alluvial, colluvial and aeolian gravels, sands and soils
- Historic mines all located at surface on outcrop
- Rock chip sampling shows high grade mineralisation extends north and south of the historical mines into areas with little systematic exploration
- A large proportion of the regional historic (1980s/90s) drilling has not effectively tested the regolith for mineralisation
- CGP geological model means geophysical techniques can effectively identify the new styles of mineralisation at depth.
- Southern Geoscience assisting with future work program
10
Cardinia Area - Recent work
Applying geological learnings throughout the Cardinia region
- Extensive spread of high grade rock chip sampling in the immediate Cardinia area
- Along strike from historic mines in subcrop and shallow covered areas
- Multiple mineralised horizons
- Not effectively tested by historical drilling
- CGP geological model (VMS) means broad spaced aircore drilling and soil geochemistry will be an effective first pass assessment to focus in the most prospective area
- Learnings from this work can be applied further north where cover has prevented discovery by prospectors
11
Follow-up Drilling
Primary gold targets ineffectively tested under cover
- Extensive areas of high-grade (+5 g/t Au) mineralisation in historic drilling outside current Mineral Resource
- Generally associated with historic shafts in areas of sub-crop
- Very limited drilling along strike from high-grade hits into areas of cover
- Historic drilling database highlights significant opportunities at Cardinia and Mertondale
- The developing understanding of the Minerie geology creates exceptional opportunity for extending known resources
12
CGP Depth Potential
Primary gold targets ineffectively tested beneath 100m
All drilling | Drilling deeper than 50m vertical depth | Drilling deeper than 100m vertical depth |
13
Geophysical Trial Underway
Targeting new gold deposits in untested areas located under shallow cover
- Physical property testing of mineralised drill core has indicated Induced Polarisation (IP) and Electromagnetic (EM) surveys are capable of identifying the various mineralising styles
- IP and EM surveys currently being conducted at Bruno-Lewis and Helens to determine the most effective method in an in-situ environment
- Subject to a successful outcome of the trial program, geophysical surveying will be applied over a wider area within the Cardinia region to generate targets for upcoming drill programs
Lewis Hangingwall Potassic altered basalt with disseminated sulphides.
Lewis Massive sulphide in marine sediments and sulphidic shales.
Helens sulphide replacement mineralisation
14
Forward Work Program
Exploration and development assessment continues in parallel
Geologic Targeting
Build the project funnel with low level projects to develop through to future resources. Target generation through geochemical and geophysical surveys and looking under cover. More than 60% of the CGP is covered by recently transported cover.
IP/EM survey and extended SAM survey over Cardinia. Soil/auger sampling programs north of Cardinia, covering Minerie stratigraphy, and over Pig Well trough.
Drill Testing
Advanced
Exploration
Resource Definition
Reserve
Definition
An initial test of newly defined targets from geological targeting, or yet to be tested targets.
Dingo Well, Gambier Lass, Bummer Creek Magnetics, Prince of Wales, Eagle, Comedy King, English & Scottish.
Drill to understand target geology and gold mineralisation continuity. The success of this stage results in an Inferred Resource.
Pelsart, Websters, Black Chief, Triangle, Hobby, Comedy King.
Test the geologic model and proof of economic gold mineralisation. An Indicated Resource is the results of success at this stage.
Rangoon, Fiona, Eclipse/Tonto/Quicksilver, Mertondale 5.
Resource conversion and extension works. Increase the confidence in all inferred resource currently within the designed inventory to convert to Reserves. Includes all other works required for reserves (metallurgy, geotech, engineering).
Bruno-Lewis, Helens, Mertondale East, Mertondale West
Identify and test valid geological targets and to move them | |
through the project funnel | 15 |
Investment Summary
Advanced 841Koz gold | |
project in an attractive | Significant leverage to |
gold mining region with | the strong Australian |
considerable untested | dollar gold price |
exploration potential |
Large areas of the | Geological model and |
+45km strike of the | |
understanding of | |
Minerie Formation | |
mineralisation styles now | |
sequence located under | |
well developed to assist | |
shallow cover and not | |
with targeting | |
effectively tested | |
PFS underpinned by | Clear ability to improve |
forecast economics | |
robust cost estimates and | |
through exploration and | |
conservative | |
acquisition to displace | |
assumptions which are | |
current mine plan from | |
readily deliverable | |
year three | |
Geophysical surveys | Active evaluation of |
underway to develop new | logical, value accretive |
drill targets in areas | regional consolidation |
located under cover | opportunities |
16
Contact details
Kin Mining NL
Level 1, 342 Scarborough Beach Rd Osborne Park WA 6017
- 61 8 9242 2227
- info@kinmining.com.au
ASX: KIN
17
Appendices
18
APPENDIX A - Technical and Geology Team
Technical Management
Key Consultants
Andrew Munckton
Managing Director and
CEO
Glenn Grayson
Exploration Manager
- Geologist with 35+ years experience, technical and operations, underground and open pit.
- Previous Managing Director of Avalon Minerals, General Manager Gindalbie Metals.
- Previously General Manager of Operations Paddington, Kanowna Belle and Kundana.
- Geologist with 23+ years experience.
- Extensive experience with resource development and extension at Kundana, Kanowna Belle, Fosterville.
- Previous senior positions with Northern Star Resources, Barrick and Northgate Minerals.
Entech | • | Respected industry consultants. |
• Specialists in Open Pit Optimisation, | ||
mine design and scheduling. | ||
Como Engineers | • | Established industry consultants with |
long history | ||
• | Delivering process engineering, | |
metallurgy and construction services. | ||
Jon Standing | • | Expert stratigraphic structural and |
economic geologist | ||
• Comprehensive mapping of the | ||
company Tenure. | ||
Russel Mortimer | • | Consultancy assisting with |
John Kelly
Engineering Manager
- Engineer with 30+ years industry experience.
- Extensive experience with operations and contract mining in both open pit and underground.
- Previous senior positions with Resolute, Roche, Alcoa, Mt Gibson, Sinosteel Midwest.
/Southern | geophysical advice and strategy |
Geoscience | around acquiring the appropriate |
field data. | |
Nigel Brand | • Geochemical consultant specialising |
in exploration geochemistry |
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APPENDIX B
CGP Resource & Reserve underpins future mine plan1
- Total Mineral Resource estimate of 18.2Mt @ 1.4g/t for 841koz (June 2019)
- Predominantly defined in Cardinia and Mertondale areas
- Probable Ore Reserve estimate of 7.9Mt @ 1.1g/t Au for 283koz (August 2019)
- Total mill feed of 11.4Mt @ 1.1g/t Au at estimated 92% recovery for forecast 368koz recovered gold
- Baseload feed sourced from the Bruno-Lewis system, located only 1km from the process plant site
- Higher grade satellite sources at Helens, Kyte, Mertondale 5 and Mertondale 3-4
Resource and Reserve estimates
Increase in total Mineral Resource tonnage, grade and contained ounces from March 2019 estimate
New Ore Reserve based on more conservative modifying factors including pit wall angles, dilution and recoveries applied
Further significant upside potential to Mineral Resource, Ore Reserve and forecast mill feed from additional drilling
1 For full Mineral Resource and Ore Reserve estimate information, please refer to Appendix E and F slides
APPENDIX C - Cardinia Geological Model
Type Location for this kind of Au-Ag rich shallow crustal mineralisation in bi-modal volcanic terrains of the Archaean Abitibi Greenstone belt, Canada
1. Low sulphidation epithermal Au-Ag. Present at Bruno-Lewis
High temperature, low pressure. Potassic alteration and silica void fill textures.
2. Volcanogenic Massive Sulphide Au-Ag (+Cu, Zn, W, Sb, Te). Present at Bruno-Lewis and Mertondale West.
Sulphidic shales and altered conglomerates with high grade gold, silver, copper, zinc, tungsten, antimony and tellurium.
3. Orogenic Lode Au - Ag. Helens, Bruno-Lewis, Mertondale East, Mertondale West.
Structure on stratigraphic contacts (Hobby, Mertondale East and West) as well as cross-cutting structures discordant to stratigraphy (Helens, Mertondale East) within brittle quartz lodes and also ductile shearing. Some association with late porphyry intrusive (Bruno-Lewis, Mertondale East) (shallow crustal - hydrothermal).
21
APPENDIX D - Cardinia Geological Model
Evolution of the bi-modal Minerie Sequence
- Initial uplift and mafic volcanism during rifting of the Welcome Well Formation - extrusion of the Mafic Flow unit 1
- Acid volcanic activity followed depositing felsic volcanics and subsequent volcanoclastic sediments.
- High energy environment with uplift and further mafic volcanism. This is the episode that produced the Au-Ag mineralisation into the lower mafic sequences 1, with hydrothermal fluids circulating within the sequence, altering the basalts (picture below of the Potassic altered basalt and pyrite mineralisation), with higher grade massive sulphide deposition adjacent to the volcanic vent. (sulphidic shale with massive pyrite and disseminated pyrite mineralisation)
- Subsequent bi-model volcanism in a lower energy environment over a broader area. Later shearing and mineralisation associated with the Mertondale shears.
22
APPENDIX E - Kin Mining NL Mineral Resources
Notes
- See ASX Announcement 9 July 2019 "Bruno-Lewis Mineral Resource Update"
- See ASX Announcement 1 April 2019 "Cardinia Gold Project Mineral Resource Update"
- The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed at the time of publication.
- Totals may not tally due to rounding of values.
- Mineral Resources estimated by Jamie Logan of Kin Mining NL and reported in accordance with JORC 2012 using a 0.5g/t Au cut-off within Entech A$2,000 optimisation shells.
Cardinia Gold Project: Mineral Resources: June 2019
Resource | Lower | Measured Resources | Indicated Resources | Inferred Resources | Total Resources | |||||||||
Project Area | Gold Price | Cut off | Tonnes | Au | Au | Tonnes | Au | Au | Tonnes | Au | Au | Tonnes | Au | Au |
(AUD) | (g/t Au) | (Mt) | (g/t Au) | (k Oz) | (Mt) | (g/t Au) | (k Oz) | (Mt) | (g/t Au) | (k Oz) | (Mt) | (g/t Au) | (k Oz) | |
Mertondale | ||||||||||||||
Mertons Reward | $2,000 | 0.5 | 0.8 | 2.3 | 60 | 0.4 | 1.0 | 15 | 1.2 | 1.9 | 74 | |||
Mertondale 3-4 | $2,000 | 0.5 | 1.2 | 2.0 | 75 | 0.4 | 1.4 | 20 | 1.6 | 1.8 | 95 | |||
Tonto* | $2,000 | 0.5 | 1.8 | 1.3 | 75 | 0.0 | 1.3 | 0 | 1.8 | 1.3 | 75 | |||
Mertondale 5* | $2,000 | 0.5 | 0.6 | 2.2 | 40 | 0.0 | 2.2 | 3 | 0.6 | 2.2 | 43 | |||
Eclipse ** | $2,200 | 0.5 | 1.2 | 1.4 | 55 | 1.2 | 1.4 | 55 | ||||||
Quicksilver ** | $2,200 | 0.5 | 0.8 | 1.5 | 40 | 0.8 | 1.5 | 40 | ||||||
Subtotal Mertondale | 4.3 | 1.8 | 250 | 3.0 | 1.4 | 132 | 7.3 | 1.6 | 383 | |||||
Cardinia | ||||||||||||||
Bruno | $2,000 | 0.5 | 0.9 | 1.0 | 28 | 1.9 | 1.3 | 78 | 2.8 | 1.2 | 106 | |||
Lewis | $2,000 | 0.5 | 0.4 | 1.0 | 12 | 3.6 | 0.9 | 108 | 1.0 | 1.1 | 33 | 4.9 | 1.0 | 153 |
Kyte | $2,000 | 0.5 | 0.3 | 1.6 | 16 | 0.0 | 1.3 | 2 | 0.4 | 1.5 | 18 | |||
Helens | $2,000 | 0.5 | 0.7 | 2.2 | 47 | 0.2 | 1.8 | 14 | 0.9 | 2.1 | 61 | |||
Fiona* | $2,000 | 0.5 | 0.2 | 1.8 | 13 | 0.1 | 1.5 | 3 | 0.3 | 1.7 | 16 | |||
Rangoon* | $2,000 | 0.5 | 0.3 | 1.5 | 15 | 0.1 | 1.1 | 2 | 0.4 | 1.5 | 17 | |||
Subtotal Cardinia | 0.4 | 1.0 | 12 | 6.0 | 1.2 | 228 | 3.3 | 1.3 | 132 | 9.6 | 1.2 | 372 | ||
Raeside | ||||||||||||||
Michaelangelo* | $2,000 | 0.5 | 0.8 | 2.0 | 53 | 0.8 | 2.0 | 53 | ||||||
Leonardo* | $2,000 | 0.5 | 0.1 | 2.3 | 9 | 0.1 | 2.3 | 9 | ||||||
Forgotten Four ** | $2,200 | 0.5 | 0 | 0.2 | 2.1 | 14 | 0.2 | 2.1 | 14 | |||||
Krang ** | $2,200 | 0.5 | 0 | 0.2 | 2.1 | 10 | 0.2 | 2.1 | 10 | |||||
Subtotal Raeside | 0.9 | 2.1 | 63 | 0.4 | 2.1 | 24 | 1.3 | 2.1 | 87 | |||||
TOTAL | 0.4 | 1.0 | 12 | 11.3 | 1.5 | 541 | 6.6 | 1.4 | 289 | 18.2 | 1.4 | 841 |
*Mineral Resources estimated by Carras Mining Pty Ltd in 2017, and reported in accordance with JORC 2012 using a 0.5g/t Au cut-off within Entech A$2,000 optimisation shells.
** Mineral Resources estimated by McDonald Speijers in 2009, audited by Carras Mining Pty Ltd in 2017 and reported in accordance with JORC 2012 using a | 23 |
0.5g/t Au cut-off within Entech A$2,200 optimisation shells. |
APPENDIX F - Cardinia Gold Project - Ore Reserve Estimate1, 2, 3
Open Pit Mine | Classification | Tonnes (t) | Grade (g/t) | Metal (oz. Au) |
Kyte | Probable | 280,000 | 1.6 | 14,000 |
Bruno Lewis | Proved | 430,000 | 0.9 | 13,000 |
Probable | 4,790,000 | 0.8 | 127,000 | |
Helens | Probable | 480,000 | 1.8 | 28,000 |
Rangoon/Fiona | Probable | 490,000 | 1.6 | 25,000 |
Mertondale 2/3/4/Reward | Probable | 750,000 | 1.9 | 45,000 |
Mertondale 5 | Probable | 150,000 | 2.7 | 13,000 |
Eclipse | Probable | 220,000 | 1.1 | 8,000 |
Tonto | Probable | 300,000 | 1.2 | 12,000 |
Proved | 430,000 | 0.9 | 13,000 | |
All Pits | Probable | 7,460,000 | 1.1 | 272,000 |
Total | 7,890,000 | 1.1 | 283,000 | |
- Calculations have been rounded to the nearest 10,000t of ore, 0.1g/t Au grade and 1,000oz Au metal.
2 Assumes a gold price of A$1,800/oz for Pit Design and A$2000 for Financial analysis
3 Totals vary due to rounding. | 24 |
Cardinia Gold Project
Bruno-Lewis baseload pit
- New Bruno-Lewis geological model comprises a combination of low sulphidation epithermal, volcanogenic massive sulphide and orogenic lode mineralisation
- Based on extensive diamond drill core and multi-element sample analysis
- The deposit will provide +7 years of predominantly oxide feed
- Strip ratio of 3.5:1, and will also provide the material to build the TSF and ROM
- Strike length in excess of 1.7km and open along strike in both directions
Original Feasibility Study | Updated PFS mine plan |
mine plan included 16 | underpinned by baseload |
shallow, open pit mines | feed from Bruno-Lewis |
Grade
< 0.5 g/t
0.5 - 1.0 g/t
1.0 - 2.0 g/t
2.0 - 3.0 g/t
3.0 - 4.0 g/t > 5.0 g/t
25
CGP Exploration Potential
Applying geological learnings throughout the Cardinia region
- CGP area captures +45km strike of the entire Minerie formation sequence
- Exploration during the past 18 months has significantly advanced geological understanding of the Cardinia region
- Mineralisation is concentrated around five sequences linked to four bi-modal felsic- mafic volcanic flow events
- Three gold mineralising styles identified:
- Low-sulphidationEpithermal
- Volcanic Hosted Massive Sulphide (VMS)
- Orogenic structurally controlled lode style
- All have a strong Au-Ag/Cu association
1
2
5
5
3
4
4
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Attachments
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Disclaimer
Kin Mining NL published this content on 21 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2019 06:35:08 UTC