Polarx Ltd · ASX:PXX
Polarx — Investor Presentation (October 2019)
25 slides from Polarx's investor presentation, Oct 10, 2019
Slide 1: The Alaska Range Project; An Emerging Cu-Au District
The Alaska Range Project; An Emerging Cu-Au District Investor Update 10 October 2019 ASX: PXX www.polarx.com.au 1
Slide 2: First hole at Mars discovers porphyry-style veins containing Cu and Mo
First hole at Mars discovers porphyry-style veins containing Cu and Mo “Visual confirmation of porphyry-style veins containing chalcopyrite and molybdenite in the first hole at Mars is extremely encouraging. Given the large size of the co-incident copper-gold-molybdenum geochemical anomaly and the g
Slide 3: First holes at Saturn indicate deep porphyry potential
First holes at Saturn indicate deep porphyry potential Cover gravels 19SAT001 at 332m depth. Argillic alteration overprinting brecciated Propylitic alteration Argil andesite. lic al t erati on De Ph yl ep lic Po ? rp hy ry So ur ce ? 19SAT004 at 540m depth. Quartz-sericite-pyrite veining and alterat
Slide 4: High-grade copper and gold: well funded rapid growth strategy
High-grade copper and gold: well funded rapid growth strategy Advanced projects, high-grade from surface ➢ Strong fundamentals for copper and gold ➢ Located in a TIER 1 jurisdiction ➢ Fully funded with a new strategic partner ➢ De-risked projects through our own exploration Two Goals: ➢ Advance high
Slide 5: Alaska is low risk: Under-explored TIER 1 geology in a TIER 1 jurisdiction
Alaska is low risk: Under-explored TIER 1 geology in a TIER 1 jurisdiction ➢ Pro-mining state and a Global Top 10 investment destination per 2019 Fraser Institute Rankings ➢ Over 40Moz Au mined to date ➢ Considerably under-explored compared to other TIER 1 provinces – new deposits are still being fo
Slide 6: Strategic Partnership with Lundin Mining Corporation
Strategic Partnership with Lundin Mining Corporation ➢ Strategic earn-in into PolarX’s 100% owned Stellar Project ➢ The Zackly Cu-Au skarn claims and Caribou Dome Project are excluded and remain 100% PolarX ➢ Lundin Mining invested A$4.3M, now PolarX’s largest (12.8%) shareholder ➢ Exclusive option,
Slide 7: In the least explored part of the most prolific copper belt in the world
In the least explored part of the most prolific copper belt in the world Modified after Sun et al 2015, based on USGS data 7
Slide 8: At the intersection of two major crustal-scale faults
At the intersection of two major crustal-scale faults ➢ Straddles the major structure between the Tintina Gold Belt and the main Porphyry Cu-Au Belt in Alaska-Yukon- British Columbia-Montana ➢ Intersected by a major NW crustal- scale fault which contains known porphyry systems at its southern end ➢
Slide 9: Rapidly growing resource with huge upside
Rapidly growing resource with huge upside ➢ 15km x 7km district scale copper anomaly associated with the interpreted intrusive cluster ➢ Mars, Jupiter, Gemini and Zackly display Cu- Au-Mo-Ag-As anomalism (the classic porphyry indicators) ➢ Well defined 12 km-long WNW trending structural corridor is
Slide 10: 12km long mineralised corridor – rapid near term growth
12km long mineralised corridor – rapid near term growth ➢ 100% owned Zackly skarn likely to rapidly increase in size with further drilling to the east. ➢ Mars porphyry target has anomalous Cu-Au-Mo-As 55m @ 2.8g/t Au + 0.6% geochemistry and geophysical Cu anomalies consistent with 47m @ 3.1g/t Au +
Slide 11: Mars: strong co-incident anomalism in surface sampling (Cu-Au-As-Mo)
Mars: strong co-incident anomalism in surface sampling (Cu-Au-As-Mo) Magnetic data (Analytical signal) Copper in soil anomalism 11
Slide 12: Mars Target: co-incident magnetic, IP and Cu-Au-As-Mo anomalism
Mars Target: co-incident magnetic, IP and Cu-Au-As-Mo anomalism Spatially co-incident magnetic anomaly (potential oxidised-intrusion), IP anomaly, and Cu-Au-Mo-As in soil anomaly. Supported by up to 7% Cu and 7g/t Au in rock-chip samples 12
Slide 13: Mars drill core samples with multiple Cu and Cu-Mo veining events
Mars drill core samples with multiple Cu and Cu-Mo veining events 19MAR001 at 114.9m depth. Early phase (i) epidote-quartz veins with epidote haloes overprinted by three 19MAR001 at 176.5m depth. Quartz-carbonate-chalcopyrite vein with weak selvage of chlorite later phases of veining including (ii)
Slide 14: Multiple Cu and Cu-Mo veining events, potassic and phyllic alteration
Multiple Cu and Cu-Mo veining events, potassic and phyllic alteration 19MAR001 at 192.3m depth. Quartz-carbonate-pyrite-chalcopyrite veins with biotite and feldspathic/sericitic haloes. Likely to be multiphase. 19MAR001 at 186.2m depth. Chalcopyrite and molybdenite in quartz-carbonate-pyrite veins.
Slide 15: Multiple Cu and Cu-Mo veining events: more drilling required!
Multiple Cu and Cu-Mo veining events: more drilling required! 19MAR001 at 265.2m depth. Pyrite and chalcopyrite vein networks overprinting sericite-chlorite-magnetite altered andesite. 19MAR001 at 303.2m depth. Quartz-carbonate-pyrite-chalcopyrite-molybdenite vein cutting epidote chlorite-magnetite
Slide 16: Mars drill section and summary log
Mars drill section and summary log From (m) To (m) Lithology 19MAR001 Comments 0.0 5.3 Talus Talus 5.3 13.4 Andesite Epidote-chlorite altered fine grained massive andesite. Epidote appears to replace feldspars. Rare quartz-actinolite-magnetite- pyrite-chalcopyrite veins to 20mm. 13.4 16.0 Andesite V
Slide 17: Saturn porphyry Cu-Au target
Saturn porphyry Cu-Au target ➢ Blind target generated from re-processing historical regional magnetic data ➢ High-resolution aeromagnetic data validates target, particularly the 3-D inversion modelling ➢ Validated by strong interest from numerous international mining companies, including new strateg
Slide 18: Saturn Scout Drilling: Plan and Cross-Sections – 5 deep holes in 2019
Saturn Scout Drilling: Plan and Cross-Sections – 5 deep holes in 2019 Drill Plan on Magnetic Data Drill Sections on IP Data A A’ A A’ B B’ B B’ 18
Slide 19: Saturn scout drilling: key observations
Saturn scout drilling: key observations • Core drilling into the extensive Saturn magnetic anomaly has identified geology, alteration patterns and local hydrothermal veining consistent with a deeper porphyry source. • Saturn is covered by a thick layer of unconsolidated post-mineral cover which has
Slide 20: Interpretation based on observations to date: deeper drilling required
Interpretation based on observations to date: deeper drilling required Schematic porphyry alteration zonation Interpretation of the 7,008,370N cross-section suggests potential deep porphyry source below and to the east of current drilling Overprinted advanced argillic ? A 01 02 05 0km A A T0 T0 T0 A
Slide 21: Upside at Zackly: high grades 850m east of current resource boundary
Upside at Zackly: high grades 850m east of current resource boundary PLAN VIEW CROSS-SECTION 21
Slide 22: Concluding Statements
Concluding Statements ❑ Big holding of high quality, high-grade copper-gold-silver assets in mining friendly Alaska, USA ❑ Advanced projects in a TIER 1 jurisdiction – early exploration risk has been removed ❑ Fully funded for near-term expansion and longer term discovery growth ❑ Major drilling and
Slide 23: Experienced management team with track-record
Experienced management team with track-record MARK BOJANJAC A Chartered Accountant with over 25 years’ direct experience in developing resource companies. A founding director of Gilt-Edged Mining Limited which discovered East Kundana, one of Australia’s highest grade gold mines and managing director
Slide 24: Strong institutional support from major international funds
Strong institutional support from major international funds Shares (M) Options (M) Cash (30 Sept) TOTALS 416.2 33.8 ~$3.5M SHAREHOLDERS: % Lundin Mining Corporation 12.8 Management/Directors/MRG Team 12.2 TIGHTLY HELD JP Morgan (UK) 8.3 U.S. Global (US) 8.1 Top 20 69% Ruffer Gold Fund (UK) 7.5 Top 4
Slide 25: Cautionary Statements
Cautionary Statements This presentation has been prepared by PolarX Limited (“PolarX”) to assist in informing interested parties about the Company and its progress. It should not be considered as an offer or invitation to subscribe for or purchase any securities in PolarX or as an inducement to make