Wiluna Mining Corporation Ltd · ASX:WMC
Wiluna Mining — Blackham Resources — Sydney RIU Conference May 2017
32 slides from Wiluna Mining's conference presentation, May 2017
Slide 1: Australian gold producer with exceptional growth opportunity
For personal use only Australian gold producer with exceptional growth opportunity ASX : BLK Sydney RIU Conference May 2017
Slide 2: Disclaimers and Important Information
Disclaimers and 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, For personal use only exploration results and events or production that Blackham Resources L
Slide 3: Gold producer with exceptional growth opportunity
For personal use only Gold producer with exceptional growth opportunity ▪ Matilda/Wiluna Gold production commenced in Oct’ 2016 and production ramping up ▪ Market cap ~ A$118M with strong liquidity ~ A$19/resource oz ▪ Resource 6.4Moz @ 3.2g/t, 4 large scaleable gold systems & (1) over 1,000km2 land
Slide 4: Corporate Information
Corporate Information CAPITAL STRUCTURE BOARD OF DIRECTORS & KEY MANAGEMENT For personal use only Market cap. @ A$0.35 A$118M Bryan Dixon Managing Director Mining Develop’t & Corporate Shares on issue 337M Milan Jerkovic Non-Exec Chairman Mining Develop’t & Operation Strong Liquidity - 1 month volum
Slide 5: Australia's biggest gold belt
Australia’s biggest gold belt For personal use only ▪ In Australia’s largest gold belt stretching from Norseman through Kalgoorlie to Wiluna ▪ Regional endowment > 40Moz ▪ Matilda/Wiluna Operation has over 11Moz endowment including >4.3Moz of past production – largest endowment in region ▪ Positione
Slide 6: Evolution from explorer to producer
Evolution from explorer to producer For personal use only Achievements & progress to date ▪ Mar’2014, acquired gold plant, mine and consolidated the Wiluna Goldfield ▪ Dec’2014, scoping study - Mining Inventory 5.0Mt @ 2.8g/t for 454,000oz Au ▪ Jun’2015, BLK completed $39M 6.4Mt deal with Orion Mine
Slide 7: Matilda/Wiluna Gold Production ramping up
Matilda/Wiluna Gold Production ramping up For personal use only Table 1 – Gold Production ramping up Dec Qtr Mar Qtr YTD Total Milled 211,203 338,004 549,207 Mill Feed Grade Au 1.5 1.5 1.5 Overall Plant Recovery 88.5 93.7% 91.7% Gold Produced 8,773 14,920 23,693 ▪ March Quarters production lower on
Slide 8: Matilda/Wiluna Gold Production
Matilda/Wiluna Gold Production For personal use only Mill Throughput increasing • Wiluna Mill Throughput has increase every month since commissioning • Weather impact throughput during Feb-early Apr’17 • May & June expecting record throughput Grade profile increasing • Grade control procedures have
Slide 9: Large Scaleable geology
Large Scaleable geology For personal use only ▪ Resource 63Mt @ 3.2 g/t for 6.4Moz Au (1) – 49% indicated resource level ▪ Consolidated Wiluna goldfield with all deposits < 20km of plant ▪ Good mix of open pit & high grade UG ore ▪ +1,000km2 of tenure & 55km of strike ▪ 4 large gold systems capable
Slide 10: Blackham's mid tier producer ambitions
Blackham’s mid tier producer ambitions For personal use only Wiluna Expansion Study confirms +200kozpa long mine life opportunity Preliminary Expansion Study Highlights1 Planning for Stage 2B combined processing capacity of 3.2Mtpa and to maintain +200,000ozpa gold production • Targeted Production 1
Slide 11: Blackham's mid tier producer ambitions
Blackham’s mid tier producer ambitions For personal use only Wiluna Expansion Study confirms +200kozpa long mine life opportunity Preliminary Expansion Study Highlights • Staged pathway to a flexible processing facility capable of unlocking the value of the both oxide and sulphide resources • Combin
Slide 12: Gold production ramping up further
Gold production ramping up further For personal use only Wiluna Expansion Study confirms +200kozpa long mine life opportunity Ramp up of production will be timed based on Stage 1 cash flow being matched to Stage 2 capital requirements. 12 1) Refer to ASX release dated 8th May 2017
Slide 13: Matilda Mine – Base Load Ore and Growing
Matilda Mine – Base Load Ore and Growing For personal use only ▪ 10kms stacked, repeating gold Resources Mt Grade Koz lodes Measured 0.2 2.0 13 ▪ Soft, deeply weathered oxide ore Indicated 7.7 1.8 445 Inferred 4.9 1.7 270 ▪ Production (1987-1993): Total 12.8 1.8 728 ▪ 2.2 Mt@ 2.6g/t = 181,000oz au ▪
Slide 14: Matilda Open Pit Mining
Matilda Open Pit Mining Matilda M3 sub-pit currently For personal use only being mined with 2 diggers Matilda M10 goodbye cut Matilda M4 pit mining at 1057.5RL M4 ore visible 14 M3 sub-pit being mined with 2 diggers 14
Slide 15: Golden Age – High Grade Quartz Reef
Golden Age – High Grade Quartz Reef For personal use only ▪ UG produced 160,000oz Au @ 9.0g/t ▪ Middle Resource 290kt @ 9.0g/t for 85,000oz ▪ Grade control drilling of 15m by 15m ▪ Recent GA middle high grade results ▪ 1.3m @ 97.0g/t Au (126g*m) ▪ 1.9m @ 25.3g/t Au (48g*m) ▪ 2.3m @ 14.1g/t Au (32g*m
Slide 16: Golden Age Underground Mining
Golden Age Underground Mining For personal use only 16
Slide 17: Stage 2: Wiluna 5.1Moz
Stage 2: Wiluna 5.1Moz ▪ Total resources 41Mt @ 3.9g/t for 5.1Moz (1) - For personal use only ▪ OP resources 16Mt @ 2.5g/t for 1.3Moz ▪ UG resources 24Mt @ 4.7g/t for 3.7Moz ▪ Operating history gives good understanding of processing costs & recoveries ▪ 83% average recoveries over 20 years ▪ opportu
Slide 18: Wiluna Open Pits – 610koz @ 2.5g/t & growing
Wiluna Open Pits – 610koz @ 2.5g/t & growing For personal use only 18
Slide 19: East West Pit - large scale pit getting bigger
East West Pit - large scale pit getting bigger For personal use only Priority Target ▪ Open pit 424koz ([email protected]/t) & 9:1 strip ratio ▪ Wide ore zone ideal for open pit mining ▪ Recent drilling confirmed significant mineralisation in central zone not modelled ▪ economics likely to improve with new
Slide 20: East-West pit cutback opportunity
East-West pit cutback opportunity For personal use only 600m wide ▪ East-West pit optimising with a grade of 2.3g/t to a maximum depth of ~230m No ▪ Wide zones of 230m drilling mineralisation ideal for deep open pit and UG mining ▪ central zone mineralisation intersected to the north (5m @ 2.7g/t) &
Slide 21: East-West UG Bulk Mining Opportunity
East-West UG Bulk Mining Opportunity For personal use only 600m wide No drilling 49m @ 7.08g/t 17m @ 6.72g/t from 119m from 160m 40m wide historical stope 21
Slide 22: East West Underground - Mining Inventory
East West Underground - For personal use only Mining Inventory 4Mt @ 4.9g/t for 380koz 22
Slide 23: Happy Jack to Bulletin UG - 380koz @ 4.9g/t
Happy Jack to Bulletin UG - 380koz @ 4.9g/t For personal use only Mining Inventory 4Mt @ 4.9g/t for 380koz 23
Slide 24: Lake Way – large mineralised suited to bigger plant
Lake Way – large mineralised suited to bigger plant ▪ 19km south along strike from Wiluna For personal use only ▪ Large tonnage potential ▪ Historically Willamson produced [email protected]/t for 42,000Au ▪ Free milling 95% DFS recoveries ▪ Main lode up to 40m wide ▪ High grade underground gold [email protected]/t
Slide 25: Blackham's Matilda/Wiluna Vision
Blackham’s Matilda/Wiluna Vision For personal use only ▪ Gold production ramping up ▪ Preliminary expansion study confirms capital efficient production growth to 200-240kozpa (Stage 2) ▪ Gold producer with large scale gold systems, 6.4Moz resource and long mine life potential 25
Slide 26: Matilda/Wiluna Gold Resources grow 25% for Qtr
Matilda/Wiluna Gold Resources grow 25% for Qtr For personal use only Matilda Gold Project Resource Summary OPEN PIT RESOURCES Measured Indicated Inferred Total 100% Mining Centre Mt g/t Au Koz Au Mt g/t Au Koz Au Mt g/t Au Koz Au Mt g/t Au Koz Au Matilda Mine OP 0.2 2.1 13 7.6 1.8 435 4.3 1.4 200 12
Slide 27: Appendix: Gold Reserves
Appendix: Gold Reserves Mined Reserve For personal use only Mine Category Tonnes g/t Oz Matilda Mine Proven 195,000 1.9 12,000 Matilda Mine Probable 3,297,000 1.8 192,000 Golden Age Probable 112,000 6.0 21,000 Galaxy Probable 338,000 2.8 30,000 Williamson Probable 1,517,000 1.4 69,000 Bulletin Sulph
Slide 28: Growing the Mine Life from Large Gold Systems
Growing the Mine Life from Large Gold Systems For personal use only Limited drilling to date Reserves 7.0Mt @ 2.5g/t for 560koz Matilda Golden Age Mine Plan 9.3Mt @ 2.9g/t for 873koz Galaxy, Williamson Bulletin, East & West Lodes Resource [email protected]/t for 6.4Moz (49% Indicated) Matilda pit extensions
Slide 29: Just Scratching the Surface
Just Scratching the Surface For personal use only 29
Slide 30: Mining One Reef with 15km of Reef Prospects
Mining One Reef with 15km of Reef Prospects For personal use only Commence UG mining Golden Age Expand resource and reserve base Commence Galaxy open pit Add 2nd UG mining area Aim to stabilize 50,000ozpa from reefs 30
Slide 31: Mining Plan the Key to Unlocking Value
Mining Plan the Key to Unlocking Value For personal use only 31
Slide 32: 4.3Moz Wiluna production & lot more to come
4.3Moz Wiluna production & lot more to come For personal use only ►Long History of Production +4.3Moz ►Historical Oxide, Quartz, Tailings ~1Moz ►BIOX Fitted to Existing Oxide Plant (Comm May 1993) ►2007: Project broken up - Wiluna mine assets sold to Apex for $29.5M ►Apex spends $71M on exploration