Wiluna Mining Corporation Ltd · ASX:WMC

Wiluna Mining — Blackham Resources — Fremantle Explorers Conference 2015

35 slides from Wiluna Mining's conference presentation, February 2015

  1. Slide 1: Matilda Gold Project

    BLACKHAM Resources Limited MATILDA GOLD PROJECT FREMANUILES EXPLORERS CONFI Féb2015 —_— ASX.» BLK® as ee fis Mer Go.

  2. Slide 2: Blackham – an emerging gold producer

    BLACKHAM – an emerging gold producer  4.7Moz Au resource, 55kms of strike & 780km2 landholding  1.3Mtpa plant & infrastructure unlocks value in Matilda Gold Project allowing production over 100,000ozpa  Working towards a 10 year mine life focusing on the free milling ores  Production within 13 m

  3. Slide 3: Corporate Overview

    CORPORATE OVERVIEW CAPITAL STRUCTURE BOARD OF DIRECTORS Market cap. @ A$0.125 A$22M Paul Murphy Independent Non-Exec Chairman Shares on issue 177.9M Bryan Dixon Managing Director Options @ A$0.12 – A$0.35 20.3M Alan Thom Executive Director - Development Cash & liquids @ 31 Dec 2014 A$1.1M Greg Miles

  4. Slide 4: Regional Endowment

    REGIONAL ENDOWMENT  The right address - low sovereign risk  Large, highly prospective tenement holding in the Northern Yilgarn, Western Australia  Regional endowment >40Moz  8.7Moz endowment in the expanded Matilda project including 4Moz production  Positioned for new discoveries and economic d

  5. Slide 5: Matilda Gold Project

    MATILDA GOLD PROJECT Resource 44Mt @ 3.3 g/t for 4.7Moz Au – 45% indicated resource level All deposits within 20km of BLK’s gold plant with existing haul roads Mix of open pit & high grade underground ore 4Moz of historical production +780 km2 of tenure & 55km of mine sequence strike Little sy

  6. Slide 6: Matilda's Extensive Infrastructure

    MATILDA’S EXTENSIVE INFRASTRUCTURE  Plant 1.3Mtpa capable of 100kozpa1  Gas power station & diesel backup  Permitted borefields and infrastructure  350 person village  Sealed airstrip and roads  Biox circuit capable of treating refractory ores  UG infrastructure already in place  Operating a

  7. Slide 7: WGP Processing Circuit – 100% Owned

    WGP PROCESSING CIRCUIT – 100% OWNED Mill 2 Circuit 550,000tpa Underground Ore Mill 1 750,000tpa Oxide Ore 1.3 Mtpa milling capacity in C&M since June 2013

  8. Slide 8: Matilda Strategy: Free milling focus

    MATILDA STRATEGY: Free milling focus Stage 1 – Free milling production >100,000ozpa  Free milling resources 23Mt @ 2.0g/t for 1.43Moz Au  includes priority high grade quartz reefs, a growing resource of 1.0Mt @ 4.9g/t for 171,000oz Au for open pit and underground mining  Upgrade Mining Inventory

  9. Slide 9: Development & Economics

    DEVELOPMENT & ECONOMICS PFS $3M & 3mths DFS $5M & 5mths Development 4mths $25M Drilling ($1.4M) Drilling ($2.3M) Plant refurb ($11.6M) Metallurgy & mining Metallurgy & mining Power Supply ($1.3M) studies studies Mine Development & Overheads Overheads working cap ($12.1M) 13 months & $33M = 100,000oz

  10. Slide 10: Growing the Matilda Mine Life

    Growing the Matilda Mine Life Mineral Inventory Matilda [email protected]/t for 454,000oz Golden Age and growing fast Galaxy, Williamson Resource Calvert [email protected]/t for 4.7Moz Mining studies Matilda Extensions, (45% Indicated) in progress Bulletin Happy Jack, East & West Lodes, Regent Brown fields Republic,

  11. Slide 11: Growing the Matilda Mine Life

    Growing the Matilda Mine Life Free milling exploration & inventory targets Exploration Targets* Budget to Tonnes (Mt) Grade (g/t) Ounces (koz) Inferred Low High Low High Low High $'000 Republic Reef 0.3 1 6 10 65 320 $ 225 Brothers Reef 0.3 1 6 10 65 320 $ 225 Caledonia Reef 0.5 2.0 6 10 100 650 $ 3

  12. Slide 12: Matilda Mine - Near term mining opportunity

    MATILDA MINE - Near term mining opportunity  Production (1987-1993):  2.2 Mt@ 2.6g/t = 181,000oz au  mostly oxide material mined to < 50m  Mineral Inventory  77% indicated resource level  1.9g/t diluted head grade g/t Oz  Gravity & leach recoveries 92% RESOURCES Mt Au Au  Mining ready in sho

  13. Slide 13: Matilda Mine Centre

    MATILDA MINE CENTRE  Currently drilling yellow targets  Very limited drilling of down plunge targets  Looking to discovery of new lodes between pits  Pit convergence lowering stripping ratios and driving pits deeper 13

  14. Slide 14: Matilda M4 Deposit – high grade shallow results

    MATILDA M4 DEPOSIT – high grade shallow results along strike  Shallow mineralisation extends 1,000m north of the old pit & still open  Historical mining: 386,000t @ 2.2g/t Au to < 50m depth  Resource 204,000oz with 93% < 160m from surface  Recent high grade shallow drill results likely to pull t

  15. Slide 15: Golden Age – high grade quartz reef

    GOLDEN AGE – high grade quartz reef  Produced 160,000oz Au @ 9g/t  Resource [email protected]/t for 120,000oz Republic Reef Brothers Reef 6m @ 4.5g/t  Gravity leach recovery +95% 0.6m @ 11.2g/t 1.6m @ 12.7g/t 2.5m @ 8.3g/t  Mine access ready – capex cost sunk  Republic & Brothers Reefs require further

  16. Slide 16: Republic – high grade quartz reef

    REPUBLIC – high grade quartz reef  150m off the existing Golden Age UG development  Previously open cut mined  800m strike and 600m dip  Drill composite average grade 7.1g/t Au  Exploration target 65,000- 320,000oz*  Drilling programme awaiting approvals * The potential quantity & grade of thi

  17. Slide 17: Galaxy – shallow high grade quartz reef system

    GALAXY – shallow high grade quartz reef system  Resource 550kt @ 2.9g/t for 51,000oz Au 13kms NNW of WGP plant  Mineral Inventory - 80% indicated resource level  3.3g/t diluted head grade and gravity & leach recoveries 96%  Northern extent of a 15km quartz reef system including Golden Age, Repub

  18. Slide 18: Caledonian Trend – Caledonia Pit

    CALEDONIAN TREND CALEDONIA PIT – high grade in pit floor 18

  19. Slide 19: Williamson Deposit – up to 40m wide ore body

    WILLIAMSON DEPOSIT – up to 40m wide ore body  Historically produced 660kt @ 2g/t Au RESOURCES Mt g/t Au Oz Au  High-grade shear zones bounding monzogranite Indicated 2.7 1.7 148,000 stockwork up to 40m wide, free-milling ore Inferred 3.6 1.8 202,000  High-grade mineralisation beneath current pit

  20. Slide 20: Lake Way – very large mineralized system

    LAKE WAY – very large mineralized system  19km south along strike from Wiluna – large tonnage potential  350koz resource - structural setting similar to Wiluna – potential cluster of deposits  Williamson south mineralisation extends for 1.5km south of pit  Carroll-Prior drilling identified conti

  21. Slide 21: Bulletin – good grade, shallow deposit

    BULLETIN – good grade, shallow deposit  Resource 2.6Mt @ 3.4g/t for 280koz (32% indicated) structures open at depth over the 1.5km-long Bulletin- Happy Jack trend.  Mining pit study underway Bulletin OP Production 743kt @ 2.9g/t for 70,000oz Long section looking west - Bulletin & Happy Jack open p

  22. Slide 22: Australian Gold Peers

    AUSTRALIAN GOLD PEERS Peer Company Valuations? - Explorers & Developers Whilst there was no change in average valuation multiples for Explorers and Developers, this hides a dramatic increase in Gold Road’s multiple (from A$29/oz to A$43/oz) as the company rose 51% during the month of January MC/Reso

  23. Slide 23: Australian Gold Producers

    AUSTRALIAN GOLD PRODUCCERS BLK $3/oz BLK $40/oz* *BLK per Oz of Mineral Inventory 23

  24. Slide 24: Blackham's Matilda Vision

    BLACKHAM’S MATILDA VISION  4.7Moz gold resource - 45% indicated resource  Acquisition of plant with capacity for > 100,000ozpa1 puts Blackham in a new peer group  Existing plant & infrastructure minimises capex and risk  Working towards a 10 year mine life focusing on the free milling ores  Pro

  25. Slide 25: Disclaimers & Important Information

    DISCLAIMERS & IMPORTANT INFORMATION This presentation includes certain statements that may be deemed ‘forward-looking statements’. All statements that refer to any future production, resources or reserves, exploration results and events or production that Blackham Resources Ltd (‘Blackham’ or ‘the C

  26. Slide 26: Contact Details

    CONTACT DETAILS Project partners: Bryan Dixon Managing Director Blackham Resources Ltd E: [email protected] T: +61 8 9322 6418 | F: +61 8 9322 6398 A: Level 2, 38 Richardson Street, West Perth WA 6005 P: PO Box 1412, West Perth WA 6872 W: www.blackhamresources.com.au ASX Code: BLK 26

  27. Slide 27: Directors & Management

    DIRECTORS & MANAGEMENT Paul Murphy – Independent Non Executive Chairman Mike Robbins - CFO / Company Secretary Mr Murphy is a former banker with extensive experience in Mr Robbins has well over 20 years resource industry experience finance, strong relationships within the banking, finance and gather

  28. Slide 28: Appendix A: Gold Resources

    APPENDIX A: GOLD RESOURCES Table 2. Matilda Gold Project Resource Summary Measured Indicated Inferred Total 100% Mining Centre g/t Koz g/t g/t Mt Mt g/t Au Koz Au Mt Koz Au Mt Koz Au Au Au Au Au Matilda Mine 0.1 2.4 9 4.7 2.0 300 8.2 1.7 450 13 1.8 760 Williamson Mine 2.7 1.7 150 3.6 1.7 200 6.3 1.7

  29. Slide 29: Matilda M1 Deposit

    MATILDA M1 DEPOSIT  High-grade mineralisation in pit floor  Outstanding drill results:  [email protected]/t (114m) incl 12m@ 9.1g/t  [email protected]/t (244m)  High grade UG extensions priority target 29 12

  30. Slide 30: Matilda Extensions & Mentelle Shear

    MATILDA EXTENSIONS & Mentelle Shear  Historical drilling identified 4m @ 13.9 g/t (64m) mineralisation up to 3km from the mine area  Strike extensions partly covered by drainage – impediment to historical exploration = opportunity  Mentelle trend… parallel structure?  Mentelle prospect potential

  31. Slide 31: Caledonian Trend

    CALEDONIAN TREND  3km strike from plant to Caledonian Pit  Drilling indicates potential for open-pit resources. Quartz hosted – free milling 7m @ 7.15 from 40m  Very shallow RAB drilling (~5m) & 5m @ 5.01 from 20m limited RC to 60m - little surface expression to 20m with most drilling ineffective

  32. Slide 32: Matilda Stage 2: High grade refractory ores

    MATILDA Stage 2: High grade refractory ores to complement free milling ores  Underground and open pit refractory ore will extend mine life  Refractory resources 22Mt @ 4.6g/t for 3.3Moz Au - 2g/t bottom cut  East & West Lode resources 5.2Mt @ 6.1g/t for 1.0Mt - 4g/t bottom cut  Substantial mine

  33. Slide 33: Regent – robust resource

    REGENT – robust resource Considerable scope to increase deposit  700m of strike and still open  Excellent grades and widths – steep dilatant structures open at depth  Good continuity, robust deposit  Additional extension drilling down plunge required RESOURCES Tonnes g/t Au Contained Oz Au Indic

  34. Slide 34: History of Wiluna Goldfield

    HISTORY OF WILUNA GOLDFIELD ► Long History of Production +4Moz ► Historical Oxide, Quartz, Tailings ~1Moz ► 1897 – 1924 Oxide & Quartz 186,000 oz ► 1984 – 1993 Oxide & Tailings 770,000 oz ► BIOX Fitted to Existing Oxide Plant (Com May 1993) ► 2007 Oxiana (Oz Minerals) acquires Agincourt ► 2007: Proj

  35. Slide 35: Wiluna Nickel

    NICKEL WILUNA NICKEL • The Matilda Project sits on the northern end of one of the worlds major nickel provinces. • Project covers over 40 km of ultramafic sequence with potential for massive sulphides and disseminated nickel orebodies • Main body of nickel laterite resource extends over 19 km, avera

Blackham Resources — Fremantle Explorers Conference 2015 on 6ix