Altoro Metals Limited · ASX:ARO
Altoro Metals — Variscan Mines — Shareholder Meeting (November 2014)
28 slides from Altoro Metals's shareholder meeting presentation, Nov 27, 2014
Slide 1: 2014 AGM Presentation
varRiscan = 2014 AGM Presentation
Slide 2: Disclaimer and Competent Persons Statement
Disclaimer and Competent Persons Statement This presentation contains forward looking statements that are subject to risk factors associated with resources businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables
Slide 3: Assets and Strategy
Assets and Strategy Secure advanced assets within stable, low risk environments Australia Investments France • 7 ELs • 5 companies • 2010 – Numerous • NSW and SA • Wide commodity countries / projects assessed • All in joint venture spread • Little work by VAR • Current value - $2.9M • France stood o
Slide 4: Australian Exploration
Australian Exploration JV partners spent $0.26 million ($0.7 million in 2013) Expenditure mainly into two areas – 1. Achilles – Cu/Pb/Zn 2. Callabonna and Quinyambie - U JV expenditures minimal for other projects No interest for grass-roots joint ventures Non-JV tenements within Australia
Slide 5: Investments
Investments Value of investments declined due to weak current market But valuable portfolio remaining No. shares VAR Ownership Price ($/s) Value or options % of issued shares As of 17/11/14 $ Eastern Iron Limited shares (EFE) 52,857,142 36.7% $ 0.03 $ 1,585,714 WPG Resources shares (WPG) 10,407,
Slide 6: Variscan in France
Variscan in France 4 years of work EU subsidiary - Variscan Mines SAS Strong French team and the most complete database for western Europe Advanced Cu-Pb-Zn, Au, Sn and W projects identified 8 Exploration Licence Applications (PER) Recent approvals of Tennie, St Pierre and Merleac PERs
Slide 7: Why France?
Why France? Strong mineral endowment Uranium - formerly one of Europe’s largest producers Gold – Salsigne and Limoges region Tin - Abbaretz – similarities to Cornwall Copper-lead-zinc – numerous MVT, Sedex and VMS deposits Excellent prospectivity – no significant exploration for decades Low co
Slide 8: Significant deposits in Europe
Significant deposits in Europe Variscan Focus Strong Mineral Endowment
Slide 9: French Resources Sector
French Resources Sector Two highly prospective mineral regions No new exploration licences for >20 years No mineral mines (last closed in 2002) Well defined and ‘bankable’ mining laws Complex 2 year application period for licences Government support to reactivate mining sector Private
Slide 10: Tennie PER
Tennie PER Granted June 2013 205 km2 Exploring for Rouez analogue Large Cu-Au-Pb-Zn deposits Iberian Pyrite Belt equivalent? Shallow open cut on supergene Au Thin veneer of loess hides deposits Auger soil sampling on 200x200m grid now complete Two subtle Cu-Pb-Zn anomalies
Slide 11: Tennie Soil Survey
Tennie Soil Survey )) vaRiscan ines FRANCE Tennie Geology and Geochemistry — AL Zz dA a A TENNIE PER Zz x a soil anomaly soil sample points | Paris Basin Cover | Paleozoic (Pre Carb) | Brioverian | Cadomian Intrusives Coincident zinc + lead anomaly (outline at +100ppm Zn)
Slide 12: St Pierre PER
St Pierre PER 386 km2 over France’s third largest goldfield La Bellière Mine produced 325,000oz Au to 1952 High grade – 12g/t Complex link structures in major shear zone Deepest mining to -170 metres +1.6km strike length Evidence of shallow, thick, un-mined gold zones Parallel shears
Slide 13: St Pierre Section
St Pierre SECTION Data compilation and 3D model well advanced Soil geochemistry commenced Drilling anticipated next year
Slide 14: Merléac PER
Merléac PER 411 km2 over significant VMS region Porte-aux-Moines : Zn-Pb-Cu-Ag-(Au) Extensive work by BRGM in 1980s 6.8km surface, 2.4km underground drilling 2km of underground development BRGM resource and metallurgical work High grade Zn-Pb-Cu-Ag mineralization up to 20m thick to 300
Slide 15: Merléac Target
Merléac Target Classic volcanogenic massive sulphide (VMS) deposits High grade zinc-lead-copper sulphides with silver (and gold?) credits Similar to deposits such as Teutonic Bore/Jaguar, Rosebery, Woodlawn etc. Simple conceptual model – KISS exploration Cluster of deposits? Australian Exa
Slide 16: Merléac – VMS model
Merléac – VMS model Wide geographic distribution
Slide 17: Merléac – VMS model
Merléac – VMS model Size distribution
Slide 18: Merléac – VMS model
Merléac – VMS model Similarities to Porte-aux-Moines?
Slide 19: VMS model – Local Clusters
VMS model – Local Clusters Gossan Hill – Discovery History
Slide 20: VMS model – Regional Clusters
VMS model – Regional Clusters A – Noranda B – Flin Flon C – Snow Lake
Slide 21: Porte-aux-Moines
Porte-aux-Moines Well defined to 300m below surface Can be taken to JORC resource status with confirmatory work including drilling Additional ore lenses?
Slide 22: Porte-aux-Moines 3D model
Porte-aux-Moines 3D model Digitizing of data in progress
Slide 23: Merléac Gossans
Merléac Gossans 373ppm Cu 262ppm Zn 113ppm Pb 667ppm Zn 309ppm Cu 1986ppm Zn 135ppm Pb
Slide 24: Merléac Gossans
Merléac Gossans SCHEMATIC VMS SECTION Weathered Stockwork Ancient iron workings over gossan
Slide 25: Merléac 2014/15 Plan
Merléac 2014/15 Plan Follow up
Slide 26: Other Applications
Other Applications Five other applications in process One has advanced significantly Tungsten district with high grade drill intersections (skarn style) Good local support Four other applications cover tungsten, tin, gold and VMS targets More successful approvals anticipated PERs Prefect
Slide 27: 2014/15 Plan
2014/15 Plan Exploration Assets Corporate St Pierre soil survey Secure additional Capital raising for St Pierre and Porte- PER grants drilling – next year aux-Moines drilling New PER applications JV of some PERs? PAM Resource Additional targeting Merleac VTEM work Mapping / sampl
Slide 28: Thank You / Questions?
THANK YOU & QUESTIONS? Variscan Mines Limited ABN: 16 003 254 395 Level 1, 80 Chandos Street St Leonards NSW 2065 PO Box 956 Crows Nest NSW 1585 T: (02) 9906 5220 F: (02) 9906 5233 E: [email protected] W: www.variscan.com.au ASX Code - VAR