Alpha Exploration Ltd. · TSXV:ALEX
Alpha Exploration — Investor Presentation (April 2024)
36 slides from Alpha Exploration's investor presentation, April 2024
Slide 1: Gold & Copper Discovery - Arabian Nubian Shield
GOLD & COPPER DISCOVERY ARABIAN NUBIAN SHIELD Q2 2024 TSX-V: ALEX | alpha-exploration.com
Slide 2: Forward Looking Statements
Forward Looking Statements Disclaimer Notice This presentation of Alpha Exploration Limited (“ALEX”) is for information only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell or issue, or subscribe for any securities in any jurisdict
Slide 3: Alpha: Investment Highlights
Alpha: Investment Highlights Unique team: proven track record of discovery + build + sell in Eritrea, the ANS and beyond Exciting, district scale copper, gold and VMS discoveries being rapidly advanced by team STRATEGY ASSETS CATALYSTS Target: Aburna Gold Prospect: Aburna: • World class Au, Au + Cu
Slide 4: Alpha: Capital Structure
Alpha: Capital Structure Established: 2018, listed on TSX-V on November 1, 2021 Exceptional, committed insider & institutional support TSX-V: ALEX | Share Structure as of May 01, 2024 Alpha – 24 Month Share Price 0.90 Shares Outstanding 90,660,318 0.80 Share price C$0.84 MCAP C$ C$75m Share price C$
Slide 5: Board
Board Michael Hopley Dr John Clarke Chris Van der President & CEO Independent Westhuyzen Non - Executive Director Director >40 years’ of international experience. Executive & >40 years’ experience. Former president & CEO of COO of Hemera Capital Management LLP. 11 Board positions with Gold Fields Mi
Slide 6: Management & advisors
Management & advisors Matthew Grainger Scott McKeag Alasdair Smith VP Business Advanced Projects Co-founder & Technical Development Manager Advisor >25 years’ experience across the junior exploration >30 years’ experience as a Geologist in N America, >30 years’ experience as a geologist in Australia
Slide 7: The Last Frontier: Arabian-Nubian Shield
The Last Frontier: Arabian-Nubian Shield “The Cradle of Mining”- the site of some of man's earliest mining activities remains underexplored today • Arabian-Nubian Shield: a new exploration frontier with Tier 1 deposits & large, low cost mines • Highly prospective: multiple, large VMS, orogenic + por
Slide 8: Why Eritrea? Bisha VMS / Nevsun Case Study
Why Eritrea? ….Bisha VMS / Nevsun Case Study More mines have come on stream in Eritrea in the last 20 years than any other country in the region Bisha discovery in 2002 ultimately leads to sale of Nevsun in 2018 for C$1.8bn Discovery to first gold pour: 9 years 2002 2006 2008 2011 2016 2018 PFS Cons
Slide 9: Kerkasha Licence: Location
Kerkasha Licence: Location Excellent infrastructure in an established and highly prospective mining jurisdiction Experienced personnel available from >20 years of successful exploration, mine development and production • Large land package (771 km²) • Located in highly prospective Nakfa Terrain rock
Slide 10: Kerkasha License: Exploration Status
Kerkasha License: Exploration Status 20 targets defined to date with 3 significant discoveries by Alpha on large, 771km2 licence • 3 significant discoveries made in 3 years: Kosolda Gold Prospect Large Artisanal Workings Aburna Gold Prospect Au in soil 4x 5 km area • Aburna Gold Prospect: 7.2 x 2km
Slide 11: Aburna Orogenic Gold Prospect
GOLD & COPPER DISCOVERY ARABIAN NUBIAN SHIELD Aburna Orogenic Gold Prospect
Slide 12: Aburna Gold Prospect: Overview
Aburna Gold Prospect: Overview Major, 7.2km x 2km scale new orogenic gold project discovered • New discovery by Alpha with no drilling on project prior to 2022 • 6 targets defined to date over 7.2km strike Northeast Area (Q1 ’24): ABRD113: 5m @ 11.03 g/t Au • Systematic exploration leads to discover
Slide 13: Aburna: Drill targets - Hill 52 & Central Area
Aburna: Drill targets - Hill 52 & Central Area Mineralization defined over 1km strike with high grade zone including 18m @ 15.33 g/t Au • Hill 52: Q1 24 drill results ABR100 20 m @ 2.82 g/t Au ABR031 18 m @ 2.27 g/t Au ABR064 34 m @ 1.50 g/t Au ABR104 18 m @ 1.17 g/t Au ABR034 30 m @ 1.23 g/t Au ABR
Slide 14: Aburna Gold Prospect: multiple mineralized shears
Aburna Gold Prospect: multiple mineralized shears Vertical + stacked continuity of high grade mineralisation demonstrated 15 m @ 5.85 g/t Au ABD001 & ABR005 ABR018 ABR039 • Drilling has identified multiple, stacked 19 m @ 5.19 g/t Au ABR007 mineralized lenses Mineralisation ABR051 Envelopes • Target
Slide 15: Aburna: Priority drill targets H1 '24: Hill 52
Aburna: Priority drill targets H1 ’24: Hill 52 Q1 ‘24 drilling: Drillholes ABD012 & ABD013: consistent, high grade gold down the drill core 15
Slide 16: Aburna: Priority drill targets H1 '24: Central Area
Aburna: Priority drill targets H1 ’24: Central Area Holes planned to test through mineralisation to deep magnetic target Target sits directly below existing successful drilling in Central Area prospect ntral Ce ABR064 34 m @ 1.5 g/t Au from 38 m ABR031 18m @ 2.2 g/t Au from 130 m ABR034 Magnetics (T
Slide 17: Aburna: Priority H1 '24 drill targets
Aburna: Priority H1 ‘24 drill targets Dasharna NE Area TARGET 3 (Northeast Area) • 3,000m / 20 holes • Priority 500m + 1.2km mineralised strike at Northeast Area TARGET 1, 2 (Hill 52, Central) Central Area Intersection between 2 major crustal structures: • 7,000m / 30 holes • Extend + infill current
Slide 18: Aburna: Priority drill targets H1 '24 – Northeast Area
Aburna: Priority drill targets H1 ’24 – Northeast Area 1.7km priority mineralised zone defined from drilling and geophysics • Recent drilling has identified 2 mineralised lenses each >200m in length including ABR092 (9m @ 10 g/t Au) and ABR078 (9m @ 5.99 g/t Au) • SW margin of high grade zone define
Slide 19: Aburna: Sukari (Centamin) analogue - scale comparison
Aburna: Sukari (Centamin) analogue - scale comparison Outline of entire Centamin’s Sukari resource (11.1 Moz @ 1.08 g/t Au) fits within 1 of 6 targets defined at Aburna Sukari - open pit + underground mine Sukari Gold Mine, Egypt outline Sukari - open pit + underground mine outline 0 km 1 km 2 km Ge
Slide 20: Anagulu Porphyry Copper Gold Prospect
GOLD & COPPER DISCOVERY ARABIAN NUBIAN SHIELD Anagulu Porphyry Copper Gold Prospect Co founder & technical adviser Alasdair Smith with Anagulu discovery outcrop with extensive malachite mineralisation
Slide 21: Anagulu Gold Copper Prospect: Overview
Anagulu Gold Copper Prospect: Overview Regionally significant, new copper – gold porphyry discovery • AND001: ‘discovery hole’ 49m @ 2.33 g/t Au & 1.05% Cu from 80m Kerkasha Project Kosolda Tolegimja AND005 • >2km strike length (quartz eye diorite) with anomalous 109 m @ 0.79 g/t Au & 0.35% Cu coppe
Slide 22: Anagulu Northeast: Major mineralization intersected
Anagulu Northeast: Major mineralization intersected Large intervals of gold-copper mineralization (>0.8 g/t AuEq.) occur over a strike of ~ 400 m Mineralization remains open along strike and to depth Hinge Hinge AND006 Section 38 AND003 AND005 Section 40 Section 42 ANR017 ANR033 ANR029 900 m ANR015
Slide 23: Anagulu discovery relative to recent African discoveries
Anagulu discovery relative to recent African discoveries Discovery intercept of 49 m @ 2.33 g/t Au & 1.05% Cu compares favorably to Africa discoveries in 2018-2020 Anagulu: 49 m @ 2.33 g/t Au & 1.05% Cu (AuEq. x m) in Africa Context Kasombo Kamoa-Kakula Tshukudu (Fe Ltd) Ivanhoe 100 Prieska (Sandfir
Slide 24: Tolegimja Copper-Zinc-Gold Prospect: Overview
Tolegimja Copper-Zinc-Gold Prospect: Overview New, 3km long copper-zinc-gold VMS discovery within interpreted VMS cluster • Bi modal mafic type VMS: extensive gossan + exhalate horizons + alteration mapped & sampled • Up to 8.33 g/t Au from preliminary rock chip sampling. Gravity & IP surveys comple
Slide 25: Tolegimja Copper-Zinc-Gold Prospect: Larger potential target?
Tolegimja Copper-Zinc-Gold Prospect: Larger potential target? Cu, Zn extent fully open to N and S Potential 3km long, eastern fold limb (IP data + XRF soils) taking combined target to >6km strike Geology, Induced Polarization, VTEM, Zn Geochemistry - Geology, Induced Polarization, VTEM, Cu Geochemis
Slide 26: Other Prospects: Kosolda Gold Prospect
Other Prospects: Kosolda Gold Prospect Infill Soil Results Kerkasha Project Tolegimja < 5 ppb Au • Major 3km x 300m zone of artisanal 5 – 25 ppb Au gold workings 25 – 100 ppb Au Aburna • 4 targets defined to date over 4km x 100 – 250 ppb Au Anagulu > 250 ppb Au 5km area from rock chips, channel Koso
Slide 27: Next steps
Next steps • Targeting minimum 20,000m drilling at Aburna in 2024: fully define key mineralized lenses over minimum 2km strike • Define drill targets at Anagulu & Tolegimja with drilling planned for H2, ‘24 • Opportunities under review: additional licence in Eritrea + expand focus into Saudi Arabia
Slide 28: Investment Highlights – Why Invest?
Investment Highlights – Why Invest? Led by a team that discovered and/or developed: Multi commodity Au, Cu, Zn Multiple orogenic gold + porphyry gold- Bisha * VMS Cu-Zn-Au Mine, Eritrea 1 Sold 2011: 28Mt @ 1.78 g/t Au, 38.9 g/t Ag, 1.6% Cu, 3.15% Zn copper + VMS prospects defined • John Clarke (Form
Slide 29: Project Gallery
Project Gallery Kerkasha Licence Signing of Exploration License Agreement with Eritrean Mines Ministry Core logging - Aburna Trenching programme at Kerkasha Field exploration team - Aburna Trenching – Kerkasha Licence Anagulu – geology draped over 3D topography 29
Slide 30: Contact
Contact Registered Office Eritrea Office Contact Details Alpha Exploration Limited Alpha Exploration Eritrea Limited Matthew Grainger 3rd Floor, Omar Hodge Building Level 6, Room 602 VP Business Development Wickams Cay 1 S.A. Building P.O. Box 362 Warsay Street +44 7890 758 202 (UK) Road Town Zip Co
Slide 31: Appendices
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Slide 32: Aburna: Systematic Exploration (2): channel + trench = drill
Aburna: Systematic Exploration (2): channel + trench = drill Initial drilling in 2021 & 2022 confirms multiple high grade shear targets Highest channel, trench & traverse interepts at Aburna Sub prospect Type Interval Au g/t Northeast Channel 12 25 3.71 Northeast Channel 45 9 4.01 Northeast Trench 3
Slide 33: Aburna: Major gold system: IP Chargeability
Aburna: Major gold system: IP Chargeability TARGET 3 Dasharna TARGET 5 TARGET 2 NE Area TARGET 4 Central Hill 52 TARGET 1 Celebration Hill
Slide 34: Aburna: Major gold system: IP Resistivity
Aburna: Major gold system: IP Resistivity TARGET 3 Dasharna TARGET 5 TARGET 2 NE Area TARGET 4 Central Hill 52 TARGET 1 Celebration Hill
Slide 35: Drill hole intercept/Gold Equivalent/Metal Factor methodology
Drill hole intercept/Gold Equivalent (AuEq)/Metal Factor methodology The following methodology and calculations were used to determine the drill hole intercepts and the AuEq & CuEq calculations illustrated within this presentation (slide 13): • *Intercept calculations for RC holes ANR015-030 and DD
Slide 36: Eritrea Mining Act & Alpha Agreement with ENAMCO
Eritrea Mining Act & Alpha Agreement with ENAMCO The agreement between Alpha Exploration and the Eritrean National Mining Corporation (ENAMCO) protects and clarifies Alpha’s interests for all parties… in the case of a discovery. Agreement between Alpha Exploration Eritrea Limited and ENAMCO: ➤ On th
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