Wiluna Mining Corporation Ltd · ASX:WMC

Wiluna Mining — Blackham Resources — Diggers and Dealers 2014

29 slides from Wiluna Mining's conference presentation, August 2014

  1. Slide 1: Matilda Gold Project Secures Pathway to Production

    BLACKHAM Resources Limited MATILDA GOLD PROJ ECT SECURES PATHWAY TO PRODUCTION August 2014 ASX 2 BLK

  2. Slide 2: Blackham Resources - Focus

    BLACKHAM RESOURCES - FOCUS For personal use only  Rapid expansion at BLK’s 100% owned Matilda Gold Project over the last 2 years  Acquisition of WGP plant & infrastructure unlocks value in Matilda Gold Project  4.3 Moz Au resource, 55kms of strike and 780km2 landholding  Acquisition, exploration

  3. Slide 3: Corporate Overview

    CORPORATE OVERVIEW For personal use only CAPITAL STRUCTURE BOARD OF DIRECTORS Market cap. @ A$0.19 A$23M Paul Murphy Independent Non-Executive Chairman Shares on issue 118.6M Bryan Dixon Managing Director Options @ A$0.20 – A$0.35 16.1M Alan Thom Executive Director - Development Cash & liquids @ 30

  4. Slide 4: Matilda Gold Project

    MATILDA GOLD PROJECT For personal use only  The right address - low sovereign risk  Large, highly prospective tenement holding in the Northern Yilgarn, Western Australia  Regional endowment >35Moz  8Moz endowment in the expanded Matilda project including 4Moz production  1.3 Mt plant & infrastr

  5. Slide 5: Matilda Gold Project Resource 40Mt @ 3.3 g/t for 4.3Moz Au

    MATILDA GOLD PROJECT For personal use only  Resource 40Mt @ 3.3 g/t for 4.3Moz Au  4Moz of historical production  +780 km2 of tenure & 55km of mine sequence strike  All deposits within 26km of Blackham’s gold plant by existing haul roads  Little systematic regional exploration in over a decade

  6. Slide 6: Consolidated Matilda Project

    CONSOLIDATED MATILDA PROJECT For personal use only  JORC Resources 40Mt @ 3.3g/t for 4.3Moz Au  Mix of open pit & high grade underground ore  Land holding 780km2 – 55km of mine strike  Plant 1.3Mtpa capable of treating oxide for 80 -100kozpa1  Biox circuit capable of treating refractory ores 

  7. Slide 7: WGP Processing Circuit

    WGP PROCESSING CIRCUIT For personal use only Mill 2 Circuit Up to 550,000tpa Underground Ore Mill 1 Up to 1Mtpa Oxide Ore Mill 1 & 2 Circuit 1.3 Mtpa 6

  8. Slide 8: Matilda Strategy: Free milling focus

    MATILDA STRATEGY: Free milling focus For personal use only  Keep operations on care & maintenance while building ore reserves  Aggressive exploration strategy to focus on new oxide and/or free- milling high grade underground ore bodies  Rigorous feasibility study prior to a development decision 

  9. Slide 9: Development & Exploration

    DEVELOPMENT & EXPLORATION For personal use only Advanced Resources Galaxy - Development Targets Matilda Golden Age UG Williamson Matilda Extensions Brown Fields Golden Age Repeats Carroll – Prior Regent, East & West Lodes Green Fields Caledonian Trend Mentelle, Trend, Galaxy North, Focus on converti

  10. Slide 10: Galaxy – high grade quartz reef from surface

    GALAXY – high grade quartz reef from surface For personal use only 52,000oz Au Inferred Resource located 13kms NNW of the WGP plant  February & April drilling 9m @ 13.4 g/t from 73m incl 4m @ 27.9 g/t 2m @ 28.9 g/t from 23m 6m @ 8.82 g/t from 13m 4m @ 19.6 g/t from 37m  Historical intercepts 4m @

  11. Slide 11: Golden Age U/G

    GOLDEN AGE U/G For personal use only Republic Reef 1.6m @ 12.7 g/t (103m)  High grade quartz reef 2.5m @ 8.3 g/t (312m)  Produced 160,000oz Au @ 9g/t Brothers Reef  Mine ready – development costs sunk 6m @ 4.5 g/t (194m) 0.6m @ 11.2 g/t (431m) Open up-dip 1.7m @ 11.91 g/t 2.6m @ 25.40 g/t 5.03m @

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

    MATILDA MINE - Near term mining opportunity For personal use only  Production (1987-1992):  2.2 Mt@ 2.6g/t = 181,000oz au  Mostly oxide material mined from 7 shallow pits, generally to < 50m  Existing mining lease and previous Notice of Intent to mine Scoping Study pits and resources at Matilda

  13. Slide 13: M1 Deposit

    M1 DEPOSIT For personal use only  High-grade mineralisation in pit floor  Outstanding drill results:  35m @ 5.05g/t (114m) incl 12m@ 9.1g/t  7m @ 11.9g/t (244m)  West Lode remains open – priority target 12

  14. Slide 14: M4 Deposit - Shallow deposit open along strike

    M4 DEPOSIT - Shallow deposit open along strike  Historical mining: 386,000t @ 2.2g/t au to < 50m depth For personal use only  Resource 204,000oz Au with 93% < 160m from surface  Mineralisation extends 1,000m north of the old pit & still open  Recent high grade intercepts include: • [email protected]/t 1

  15. Slide 15: Williamson Deposit – up to 40m wide

    WILLIAMSON DEPOSIT – up to 40m wide  High-grade shear zones bounding monzogranite For personal use only stockwork up to 40m wide, free-milling ore  High-grade mineralisation beneath current pit Williamson Pit – mining 2006  [email protected]/t from 117m  [email protected]/t from 372m  [email protected]/t from 136m 

  16. Slide 16: Lake Way & Williamson

    LAKE WAY & WILLIAMSON For personal use only  Large mineralised system 19km south along strike from Wiluna  350Koz resource at Williamson, structural setting similar to Wiluna – potential cluster of deposits  Carroll -Prior targets  Previous drilling identified continuous mineralisation over 3km

  17. Slide 17: Carroll Prior Prospects

    CARROLL PRIOR PROSPECTS For personal use only 3kms of strike with continuous mineralisation  Potential large tonnage, near surface  Deeper drilling to identify high grade primary mineralisation 16

  18. Slide 18: Undervalued Relative to Australian Peers

    UNDERVALUED RELATIVE TO AUSTRALIAN PEERS SIGNIFICANTLY UNDERVALUED RELATIVE For personal use only TO AUSTRALIAN PEERS 17

  19. Slide 19: Matilda Vision

    MATILDA VISION For personal use only  4.3Moz gold resource - 46% measured & indicated  Plant capacity 1.1-1.5 Mtpa for 80,000–100,000ozpa1  Conventional low risk plant configuration  Exploring regional free milling opportunities - 55km of strike & 780km2  Extend mine life to 5+ years of free mi

  20. Slide 20: Disclaimers & Important Information

    DISCLAIMERS & IMPORTANT INFORMATION For personal use only 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

  21. Slide 21: Contact Details

    CONTACT DETAILS For personal use only 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.

  22. Slide 22: Appendix A: Gold Resources

    APPENDIX A: GOLD RESOURCES For personal use only Table 1. Matilda Gold Project Resource Summary (JORC 2012) Measured Indicated Inferred Total Mining Centre g/t Koz g/t Koz g/t Koz g/t Mt Mt Mt Mt Koz Au Au Au Au Au Au Au Au Matilda 0.1 2.4 9 4.7 2.0 300 8.2 1.7 450 13.0 1.8 760 Mine Williamson 2.7 1

  23. Slide 23: Management

    MANAGEMENT For personal use only Paul Murphy – Independent Non Executive Chairman Greg Miles – Non Executive Director - Geologist Mr Murphy is a former banker with extensive experience in Greg graduated from the Australian National University in finance, strong relationships within the banking, fina

  24. Slide 24: Galaxy North

    GALAXY NORTH For personal use only • Structural analogue to Wiluna Mine • Dextral offset fault in mafic mine sequence 2km • Approx 2km prospective zone Galaxy Deposit • This setting hosts 6Moz at Wiluna as well as mineralisation at Regent. The target is a Wiluna-style mine camp • Galaxy deposit poss

  25. Slide 25: Caledonian Trend

    CALEDONIAN TREND For personal use only  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 mos

  26. Slide 26: Matilda Mine Centre

    MATILDA MINE CENTRE For personal use only  Very limited drilling of high grade down-plunge targets  Limited drilling along strike of existing pits  Pit convergence lowering stripping ratios  Further resources upgrades  Extensions of known lodes  Discovery of new lodes between pits 25

  27. Slide 27: Matilda Extensions & Mentelle Shear

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

  28. Slide 28: Advanced Resources – Regent

    ADVANCED RESOURCES – REGENT For personal use only 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

  29. Slide 29: History of Wiluna Goldfield

    HISTORY OF WILUNA GOLDFIELD For personal use only ► 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

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