Orbit Resources Limited · ASX:OBT
Orbit Resources — Godolphin Resources — Shareholder Meeting (November 2022)
34 slides from Orbit Resources's shareholder meeting presentation, Nov 15, 2022
Slide 1: Annual General Meeting
ANNUAL GENERAL MEETING November 15th 2022 | ASX:GRL A strategic focus on critical minerals and green metals through ongoing exploration and development in central west NSW Rare Earths | Rare Metals | A Rare Opportunity
Slide 2: Disclaimer and competent persons statement
Disclaimer and competent persons statement COMPETENT PERSONS STATEMENT DISCLAIMER JORC INFORMATION CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION The Presentation has been prepared with reference to public reports made by Ardea Resources Limited (Ardea) (ASX:ARL) and This Australian Securitie
Slide 3: Investment highlights
Investment highlights Focused on the development of projects containing 1,397.m of diamond drill core completed at Narraburra critical minerals and green metals across an established Rare Earth project for resource definition to upgrade tenement suite in central west NSW resource to 2012 JORC Farm-i
Slide 4: Corporate snapshot
Corporate snapshot Snapshot Board of Directors Shares on issue 118,37m Non-Executive Chairman Mr Jeremy Read Market capitalisation $10.65m Managing Director Ms Jeneta Owens (at $0.09 per share - 8 Nov 2022) Options on issue 23.0m Non-Executive Director Mr Ian Buchhorn 52 week high low-high $0.08 - $
Slide 5: Significant foothold in central west NSW
Significant foothold in central west NSW NSW’s Lachlan Fold Belt is a world-class mining precinct: • GRL has one of the largest exploration landholdings in the LFB with over 3,400km2 of highly prospective tenure • Historic mining precinct - multiple new discoveries highlight LFB is elephant country
Slide 6: Significant progress in recent months
Significant progress in recent months Considerable progress has been achieved in during 2022: • Farm-in agreement secured for highly prospective rare-earth project with additional gold tenement secured • Multiple work programs completed across project suite underpinning ‘multi- discovery strategy’ •
Slide 7: Strategic focus on critical minerals and green metals
Strategic focus on critical minerals and green metals The supply of critical green energy minerals is essential for clean energy technologies and needs to rapidly increase over the coming decades in order to meet the world’s climate goals • Net-zero economy transition will be mineral intensive, requ
Slide 8: Narraburra Rare Earth Element (REE) Project
Narraburra Rare Earth Element (REE) Project • Agreement to earn up to a 75% interest in the project via a farm-in with private exploration company, EX9 Pty Ltd • Identified as one of Australia’s largest zirconium, REE and rare metal resources – also prospective for significant amounts of lithium • P
Slide 9: Narraburra Rare Earth (REE) Project
Narraburra Rare Earth (REE) Project • Identified by the Australian Government Department of Industry, Science and Resources in the Australia’s 2022 Critical Minerals Strategy*, as a major deposit of REE • Previously identified Lithium and Gallium mineralisation at the project • Narraburra is listed
Slide 10: Narraburra: Phase 1 Diamond Drilling Program
Narraburra: Phase 1 Diamond Drilling Program • 4 hole diamond drill (DD) program completed in August 2022 • pXRF measurements taken at the drill site, indicate REE & RM mineralisation present: using indicator minerals – awaiting assay results • Historical data has been reviewed to progress a systema
Slide 11: Narraburra: Phase 1 Diamond Drilling Results
Narraburra: Phase 1. Diamond Drilling Results • 4 hole diamond drill (DD) program completed in August 2022 • Broad intersections of Rare Earth (REE) and Rare Metal (RM) mineralisation intersected in four diamond drillholes in both weathered surficial material and in underlying fresh rock material •
Slide 12: Narraburra: Phase 2 Diamond Drilling Results
Narraburra: Phase 2 Diamond Drilling Results • 27 hole diamond drill (DD) program completed in October 2022, 1111.5m in total • All drill cores sampled and with the lab, awaiting assays – expected Q4 2022 • Updated JORC 2012 Resource by Q1 2023 Photo: (A) Weathered clay-rich material from GNBDD001 a
Slide 13: Yeoval copper gold project
Yeoval copper gold project • Existing JORC 2012 Mineral Resource Estimate of *12.8 Mt at 0.38% copper, 0.14 g/t gold, 2.2 g/t silver & 120 ppm molybdenum • Yeoval Project (EL8538) covers ~290km2 , with over 60 historic copper-gold mine workings along 20km strike length • Recent diamond at Yeoval and
Slide 14: Yeoval – Cyclops Copper
Yeoval – Cyclops Copper • Diamond drillhole GYDD001 from Cyclops Prospect returned multiple zones of high-grade copper mineralisation with coincident gold, silver and molybdenum • Copper mineralisation at Cyclops occurs as chalcopyrite ± bornite within chlorite-magnetite-epidote-quartz altered lodes
Slide 15: Yeoval copper gold project – Yeoval South
Yeoval copper gold project – Yeoval South • GYDD002 copper intersection – 276m @ 0.12% Cu from 128m, including: 94m @ 0.18% Cu from 208m and 10m @ 0.56% Cu from 260m and 2m @ 1.8% Cu from 264m • GYDD002 was drilled ~350m to the south of existing Mineral Resource Estimate • The drill hole intersected
Slide 16: Lewis Ponds – gold, copper, silver and zinc
Lewis Ponds – gold, copper, silver and zinc • JORC 2012 Resource*: 6.20 Mt at 2.0g/t gold, 80g/t silver, 2.7% zinc, 1.6% lead and 0.2% copper • Resource is part of a larger mineral system extending over 9km SE with extensive gold, copper and base metal workings • Located 20km along a broad structura
Slide 17: Increasing the Lewis Ponds opportunity
Increasing the Lewis Ponds opportunity • Spicers Lode open to the north – no drilling • Large gaps within the resource – infill drilling • Untested Downhole EM off hole conductors – not tested • Lewis Ponds Copper rich south – no modern follow- up • Re-interpretation of soil geochemical data confirm
Slide 18: Increasing the Lewis Ponds opportunity
Increasing the Lewis Ponds opportunity • Results from an orientated soil survey north of known mineralisation at Lewis Ponds identified areas of elevated gold in soils, co-incident with VTEM anomalies with a similar signature to the main mineralised lodes at Lewis Ponds – direct drill targets • A do
Slide 19: Gundagai North and South gold project
Gundagai North and South gold project • Historical gold mining area with substantial historical workings • Extensive soils, rock chip and mapping program taking place on Gundagai North Burra Rd. tenement along untested historic workings and favorable geology Mapping and Soil sampling • 1,139m of RC
Slide 20: Gundagai North
Gundagai North • Results from the seven-hole reverse circulation (RC) program at Emu and Manton’s Prospects, Gundagai North returned highly anomalous gold values confirming narrow intervals of gold mineralisation at both Emu and Mantons Prospects • Drilling highlights include: • GNRC002 – 14m @ 0.10
Slide 21: Gundagai South
Gundagai South • Soil and rock chip sampling program, designed to complement drilling, extend existing surface geochemistry and to assist in identifying potential future drill targets in the Big Ben and Surprise Hill North areas. • Results showed high-grade gold (<10.8g/t) occurs within quartz veine
Slide 22: Gundagai South – Surprise Hill North
Gundagai South – Surprise Hill North • One diamond drill hole completed at Surprise Hill North (496m). • Drill results include: • GSDD001 – 4m @ 0.31g/t Au from 245m including 1m @ 0.65g/t Au; • 2m @ 0.35g/t Au from 342m; • 2m @ 0.50g/t Au from 347m; • 4m @ 0.17g/t Au from 418m; • 4m @ 0.29g/t Au fr
Slide 23: Gundagai South – Big Ben
Gundagai South – Big Ben • One RC hole for 102m – finished in prospective lithology • One diamond 204m – did not intersect prospective lithology • GSRC001 – 4m @ 0.12g/t Au from 72m • 2m @ 0.16g/t Au from 86m • Diamond hole GSDD002 was drilled underneath the RC hole and returned low gold values but
Slide 24: Near term multi-discovery exploration program
Near term multi-discovery exploration program Cyclops mapping Caledonian Geochemisty program commences Results from initial program commences mineralogical test work CHE Cu geochemistry Calula Geochemisty Yeoval geophysics commence program commences program to commence Goodrich mapping commences Res
Slide 25: godolphinresources.com.au
godolphinresources.com.au Unit 13, 11-19 Williams Street Orange, NSW, 2800 Australia Jeneta Owens – Managing Director [email protected] +61 417 344 658 26
Slide 26: Appendix 1: Narraburra favourable farm-in and JV terms
Appendix 1: Narraburra favourable farm-in and JV terms GRL has entered into a two-tranche farm-in and joint venture agreement with private exploration company, EX9 Pty Ltd, to earn-up to a 75% interest in the Narraburra project First tranche (51% ownership): • GRL must contribute $1m in expenditure
Slide 27: Appendix 2: What are Rare Earths
Appendix 2: What are Rare Earths • Rare earths are 17 elements that share similar properties and are usually found together in geological deposits • They require advanced metallurgical processing to recover and separate • The most abundant are light rare earths, lanthanum, cerium and neodymium, pras
Slide 28: Appendix 3: Rare Earth Magnets
Appendix 3: Rare Earth Magnets • The key driver of the rare earths industry in recent decades is their application in permanent magnets, for which neodymium is a key component • The presence of praseodymium improves corrosion resistance with minimal reduction of magnet performance, while terbium and
Slide 29: Appendix 4: Copper Hill East (CHE) copper and gold project
Appendix 4: Copper Hill East (CHE) copper and gold project • Project located in the same volcanic sequence as Boda (50km south) and Cadia- Ridgeway (50km north) • Two drilling phases completed in 2020 • Preliminary indications from work include: – Copper and gold in soils anomaly – Minimum of 7km st
Slide 30: Appendix 5: CHE Turrawonga – copper gold porphyry potential
Appendix 5: CHE Turrawonga – copper gold porphyry potential • Prospect hosts a magnetic anomaly with coincident Au/Cu anomaly-tested with four RC drill holes, two with diamond tails Previous results included : • Drill holes intersected: • 32m @ 0.29g/t gold & – Multiple intrusions 0.13% in CHERC012
Slide 31: Appendix 6: Unlocking value at Lewis Ponds
Appendix 6: Unlocking value at Lewis Ponds Class Tonnage Grade Contained metal (Mt) Au (g/t) Ag (g/t) Zn ((%) Pb (%) Cu (%) AuEq (g/t) Au (koz) Ag (moz) Zn (kt) Pb (kt) Cu (kt) Inferred 6.2 2.0 80 2.7 1.6 0.2 6.0 398 15.9 170 99 11 Total 6.2 2.0 80 2.7 1.6 0.2 6.0 398 15.9 170 99 11 *Lewis Ponds Res
Slide 32: Appendix 7: 'Discover Thinking' exploration strategy
Appendix 7: ‘Discover Thinking’ exploration strategy GRL is undertaking a multi-discovery strategy across its pipeline of gold and gold/copper projects Objective is to maximise drill targets through prospect generation across entire tenement package – provides significant optionality Targets defined
Slide 33: Appendix 8: Lachlan Fold Belt deposits
Appendix 8: Lachlan Fold Belt deposits • LFB is Australia’s premier bulk-tonnage gold Project Resource Type Resource Reference and copper metal province 6.20Mt at 2.0g/t Au, 80g/t Ag, 2.7% Zn, 1.6% Pb, & 0.2% • Godolphin’s resources using both gold only Lewis Ponds Inferred 1 Cu and gold-equivalent
Slide 34: Appendix 9: Resource Inventory
Appendix 9: Resource Inventory SUMMARY OF MINERAL RESOURCES (JORC 2012) CONTAINED WITHIN GODOLPHIN TENEMENTS Tonnes Contained Contained Contained Contained Contained Project Au (g/t) Ag (g/t) Zn (%) Pb (%) Cu (%) (Mt) Au (koz) Ag (moz) Zn (kt) Pb (kt) Cu (kt) Mt Aubrey 1.21 1.61 - - - - 63 - - Yeova
Godolphin Resources — Shareholder Meeting (November 2022) on 6ix