Chalice Mining Limited · ASX:CHN
Chalice Mining — Investor Presentation (March 2023)
34 slides from Chalice Mining's investor presentation, Mar 28, 2023
Slide 1: The Julimar Ni-Cu-PGE Project – the right metals at the right time
ASX: CHN | OTCQB: CGMLF The Julimar Ni-Cu-PGE Project – the right metals at the right time in Western Australia Corporate Presentation 28 March 2023
Slide 2: Forward looking statements and competent person(s) disclosure
Forward looking statements and competent person(s) disclosure This presentation does not provide investment or financial product advice and does not include all available Authorisation Information on Chalice Mining Limited and should not be used in isolation as a guide to investing in the Company. T
Slide 3: A globally recognised name in exploration
A globally recognised name in exploration – a team with a track record of finding mines and rewarding shareholders High-performance, results driven culture (mine finding + commercial DNA) Our purpose – to find the metals needed to decarbonise the world (the green metals) Our aspiration – to create a
Slide 4: Chalice is a leading ASX200 green metals explorer
Chalice is a leading ASX200 green metals explorer with a track record of creating shareholder value Board of Directors Our Achievements • ~4,000% total return to shareholders since Julimar discovery in March 2020 • World class Julimar Ni-Cu-PGE discovery recognised with PDAC Thayer Lindsley Derek Al
Slide 5: March 2023 Resource update: 16Moz 3E, 860kt Ni, 520kt Cu
– March 2023 Resource update: 16Moz 3E2 860kt Ni 520kt Cu 83kt Co A strategic, large-scale Green metals at Julimar are Resource with rare mix of essential for decarbonisation critical minerals in sulphide technologies like batteries, mineralogy electric vehicles and hydrogen 100% owned by Chalice St
Slide 6: Gonneville Resource increased by ~50% to ~3Mt NiEq
The Gonneville Resource has increased by ~50% to ~3Mt NiEq, confirming the world-class scale and quality of the deposit 3.5 « An additional 260 drill holes incorporated in the Nickel Equivalent tonnes contained (Mt NiEq) updated Resource, increasing the contained 3.0 metal by ~18% in-pit and ~16% in
Slide 7: Tier-1 scale, near-surface Resource with growth potential
The tier-1 scale, near-surface Resource has high-grade optionality and compelling growth potential Updated Mineral Resource Estimate1: • 560Mt @ 0.88g/t 3E, 0.16% Ni, 0.09% Cu, 0.015% Co (~0.54% NiEq or ~1.7g/t PdEq) • 16Moz 3E, 860kt Ni, 520kt Cu and 83kt Co contained • Equivalent to ~3.0Mt NiEq or
Slide 8: Higher-grade sulphide component of the Resource
The higher-grade sulphide component of the Resource starts near surface and remains the focus of studies evaluating the initial development phase Higher-grade sulphide component of Resource1: • 120Mt @ 1.6g/t 3E, 0.20% Ni, 0.18% Cu, 0.017% Co (~0.9% NiEq or ~2.7g/t PdEq); • 5.8Moz 3E, 230kt Ni, 210k
Slide 9: Second largest undeveloped nickel sulphide resource in Australia
Julimar now has the second largest undeveloped nickel sulphide resource in Australia and has significant PGE-Cu-Co credits 1,400 Under offer by BHP2 1,200 Including all six payable metals, Julimar has a 1,000 contained nickel equivalent of ~3,000 kt Contained Nickel (kt) Australian 800 primary nicke
Slide 10: The Deposit remains open down-dip
The Deposit remains open down-dip, with ongoing drilling demonstrating potential for material growth • The 500-600m thick host Intrusion is interpreted to extend a further ~1.6km down-dip to the west beyond the Resource • Disseminated sulphide mineralisation is consistent within the host intrusion,
Slide 11: Gonneville-like ultramafic geology intersected over ~10km
Gonneville-like ultramafic geology + magmatic sulphides have been intersected over a strike length of ~10km across the Julimar Complex • Drilling 6-10km further north of Gonneville has intersected a Gonneville-type ultramafic horizon over ~5.5km of strike length • All these holes have intersected hi
Slide 12: The Resource occupies just ~2km of the >30km Julimar Complex
The Resource occupies just ~2km of the >30km long Julimar Complex – the upside to the north has the potential to transform the project State Forest Flinders Target (untested) • Large coincident Mag-AEM anomaly Area • Access pending WA Flinders Julimar Complex • Interpreted >30km long mafic- ultramaf
Slide 13: Processing flowsheet under development
The processing flowsheet is under development, targeting production of a Cu- PGE-Au concentrate and a battery-grade Ni-Co MHP Crushing Grinding Copper Flotation Nickel-Iron Flotation Tailings Storage Facility Potential Potential re-grinding leaching Neutralised solids • >150 batch flotation and >25
Slide 14: Upcoming milestones: exploration drilling and strategic partnering
Exploration drilling along the Julimar Complex and strategic partnering on Gonneville represent significant upcoming milestones Chalice continues its dual strategy at Julimar – to advance strategic partnering, development studies and regulatory approvals for a potential mine at Gonneville, in parall
Slide 15: Committed to environmental stewardship and community relationships
Chalice is committed to strong environmental stewardship and has established trust based relationships with local communities and Traditional Owners We have adopted a Biodiversity goal for the Julimar A mine at Julimar could deliver significant jobs, skills and Project – to ensure science-based no n
Slide 16: Julimar is a strategic asset for Australia and the western world
Julimar is capturing attention as a strategic asset for Australia and the western world, given its rare palladium-nickel-cobalt content Julimar is the first major PGE discovery in Australia Global Palladium and Nickel Primary Supply and one of the few recent large-scale Ni-Cu-PGE Market Share (2021)
Slide 17: Decarbonisation underpins demand for the green metals
The need to decarbonise the global economy will underpin long-term demand for the green metals at Julimar Hydrogen Electric Hybrid Energy Semi- Wind & Importance of metals Vehicles Vehicles Storage conductors Solar PV Nickel and Cobalt • Key industrial and electrification metals with unique chemical
Slide 18: Battery industry needs sustainable sources of battery-grade nickel
The growing battery industry needs new, large scale and sustainable sources of battery-grade nickel – a unique opportunity for Julimar Battery-grade nickel consumers forecast to Estimated average carbon intensity of nickel sources become heavily reliant on supply sources that (kgCO2 eq. per kg Ni) d
Slide 19: West Yilgarn Ni-Cu-PGE Province
The Julimar discovery has kick-started the new West Yilgarn Ni-Cu-PGE Province, which could deliver more major critical mineral discoveries • Many of the ‘giant’ ortho-magmatic nickel-copper-PGE Narryer sulphide deposits such as Norilsk, Jinchuan, Thompson and Burtville Terrane Voisey’s Bay are loca
Slide 20: The fate of decarbonisation rests on the explorers
The fate of decarbonisation rests on the explorers who must find the green metals – the big discoveries are very rare Post WWII boom and new Rise of China and surge in 60 modern exploration tools exploration expenditure (11x) 50 ~60% drop in 40 exploration expenditure and shallow ‘easy’ 30 finds gon
Slide 21: World class, tier-1 scale green metals project
World class, tier-1 scale green metals project in Western Australia – unique exposure to critical metals required for decarbonisation A team with a track record of discovery and shareholder value creation Significant exploration upside at Julimar and in the exciting new West Yilgarn Ni- Cu-PGE Provi
Slide 22: Appendix
Appendix
Slide 23: Chalice is actively growing its organisational capability
Chalice is actively growing its organisational capability Board of Directors Management Derek La Ferla, Chairman Richard Hacker, GM Strategy and Commercial • Highly regarded ASX200 chair and company director with 30+ years • Chartered Accountant with 20+ years experience in junior company experience
Slide 24: Since our 2006 IPO, quality assets and exceptional returns
Since our 2006 IPO, we have acquired quality assets, advanced projects quickly and generated exceptional returns 2012 2020 Zara Gold Project Major PGE- 2022 in Eritrea sold for NI-Cu-Co-Au $100M 2006 ~US$114M discovery at raised to 2016 progress $7.5M raised in (pre-tax) Julimar Cameron 2018 Julimar
Slide 25: Interactive 3D Model & Video
Interactive 3D Model & Video: Take a tour of our globally significant Julimar Ni- Cu-PGE Project in Western Australia https://inventum3d.com/c/chalicemining https://youtu.be/zaparMvbb4g 25
Slide 26: Platinum and Palladium essential in the hydrogen value chain
Platinum and Palladium are essential in every stage of the hydrogen value chain, a critical solution to achieving net-zero carbon emissions Production Transport and Storage Utilisation Green hydrogen produced by electrolysis of Long-term storage and transport of green Green hydrogen ideal for use in
Slide 27: Hydrogen economy could underpin long term PGE demand
The rapidly growing and increasingly adopted hydrogen economy has the potential to underpin long term PGE demand Current primary supply of Pt and Pd is ~16Moz p.a. Pd is in prolonged deficit while Pt in surplus Estimated Annual Pt and Pd Demand from Hydrogen (Moz) Electrolysers Light FCEVs Heavy FCE
Slide 28: Long term PGE demand forecast: assumptions and calculations
Long term PGE demand forecast: supporting assumptions & calculations The long term PGE demand impact from the Hydrogen economy have been generated by Company analysis using assumptions and forecasts that have been informed by recent third party research. The assumptions used below relate to the year
Slide 29: Flat grade-tonnage curve highlights higher-grade component
Flat grade-tonnage curve highlights the significant higher-grade component – providing the project with development optionality 800 1.7 1.8 1.6 1.6 700 677 1.5 1.6 646 1.5 1.4 592 1.3 1.4 600 1.3 1.2 Average grade (% NiEq) Mass above cut-off (Mt) 500 1.1 1.2 500 1.0 0.9 1.0 0.9 400 381 0.8 0.7 0.8 0
Slide 30: Gonneville Mineral Resource Estimate (JORC 2012), March 2023
Gonneville Mineral Resource Estimate (JORC Code 2012), 28 March 2023 Cut-off Domain Category Mass Grade Contained Metal Grade Au NiEq PdEq Pd Pt Au NiEq PdEq (Mt) Pd (g/t) Pt (g/t) Ni (%) Cu (%) Co (%) Ni (kt) Cu (kt) Co (kt) (g/t) (%) (g/t) (Moz) (Moz) (Moz) (kt) (Moz) Measured - - - - - - - - - -
Slide 31: Higher-grade sulphide component of Gonneville Resource
Higher-grade sulphide component of Gonneville Resource (in pit and underground), 28 March 2023 Cut-off Domain Category Mass Grade Contained Metal Grade (Mt) Pd (g/t) Pt (g/t) Au Ni (%) Cu (%) Co NiEq PdEq Pd Pt Au Ni (kt) Cu (kt) Co (kt) NiEq PdEq (g/t) (%) (g/t) (Moz) (Moz) (Moz) (kt) (%) (Moz) Mea
Slide 32: Metal equivalent assumptions of Gonneville Resource
Metal equivalent assumptions of Gonneville Resource, 28 March 2023 Based on metallurgical testwork completed to date for the sulphide domain, it is the Company’s opinion that all the quoted elements included in metal equivalent calculations (palladium, platinum, gold, nickel, copper and cobalt) have
Slide 33: Australian Primary Nickel Sulphide Resources
Australian Primary Nickel Sulphide Resources (28 Mar 2023) Total Measured (Meas.), Indicated (Ind.) and Inferred (Inf.) resources Meas. Ind. Inf. Tonnage Nickel Copper Cobalt Gold Platinum Palladium Silver Tonnage Tonnage Tonnage Rank Asset Company Stage Source Announcement Date (Mt) (kt, %) (kt, %)
Slide 34: ABN 47 1 16 648 956 Visit our website and sign up to
ABN 47 1 16 648 956 Visit our website Level 3, 46 Colin Street and sign up to West Perth WA 6005, Australia receive our latest news +61 8 9322 3960 [email protected] www.chalicemining.com chalice-mining @ChaliceMining