BULGOLD Inc · TSXV:ZLTO
BULGOLD — Investor Presentation (May 2024)
34 slides from BULGOLD's investor presentation, May 2024
Slide 1: BULGOLD Inc.
TSXV: ZLTO BULGOLD Inc. Exploring the European Portion of the Prolifically Endowed Western Tethyan Belt New Discoveries in Old Lands Contact: Sean Hasson President and Chief Executive Officer [email protected] James Crombie Executive Chairman [email protected] www.BULGOLD.com May 2024
Slide 2: Cautionary Note About Forward-Looking Statements
Cautionary Note About Forward-Looking Statements This presentation contains ‘forward-looking information' within the meaning of applicable Canadian securities legislation. Generally, forward- looking information can be identified by the use of forward-looking terminology such as “potential”, “antici
Slide 3: Executive Summary
Executive Summary • BULGOLD Inc. was formed on March 17, 2023, from the reverse takeover of St Charles Resources Inc. (CPC) by Eastern Resources Ltd. (a private Bulgarian gold exploration company incorporated in 2014). • Management and Directors of the Company have extensive operating experience wit
Slide 4: Corporate Structure (Current Cash $1.7M CAD)
Corporate Structure (Current Cash $1.7M CAD*) Current Share Structure May 28, 2024 (27,597,928) 12 Month High: $0.35 12 Month Low: $0.04 Founders, Management Avg. Daily Vol. (3m): 7.96k & Directors Dundee Corporation 42% 39% May 28, 2024 CPC Seed Shareholders Closing: $0.10 Shares o/s: 27,597,928 Fl
Slide 5: The BULGOLD Team - Management
The BULGOLD Team - Management James Crombie, Executive Chairman Sold Palmajero Gold for $1.13B to Coeur d’Alene and put together Miramar’s Arctic deposits setting up the $1.5B sale to Newmont. Successfully closed a $2M CPC IPO in April 2022. +40 Years Mining, Exploration & Capital Markets Experience
Slide 6: The BULGOLD Team - Board of Directors
The BULGOLD Team - Board of Directors Dr Mihaela Barnes, Independent Director, Chair ESG & Nominating Committee Ph.D. in International Law (Geneva) together with legal qualifications and experience in both common and civil law. +15 Years Environmental, Social & Governance Experience. Vanessa Cook, I
Slide 7: Why Explore for Quartz-Adularia Epithermal Deposits?
Why Explore for Quartz-Adularia Epithermal Deposits? • Management expertise and experience with deposit style. • Excellent metallurgy: amenable to grinding-flotation (± gravity) to produce high-grade gold concentrates at ≥85% recovery. • Resource to reserve conversion usually expected to be high; di
Slide 8: Slovakia
Slovakia • EU (€) and NATO member since 2004. NON-EU • No restrictions on foreign ownership. EU SK • 21% corporate tax rate. BG • 5% NSR for gold and silver. • Low-cost profiles, skilled local workforce. • The use of CN for extractive purposes has been prohibited since 2014. • Rozalia Gold Undergrou
Slide 9: Lutila Gold Project
Lutila Gold Project • Large (35km²), under-explored, volcanic rock-hosted, low-sulfidation, quartz-adularia epithermal system. • The system is preserved from erosion and surrounded by a large sinter field (27km²). • Located 5km south from the historic quartz-adularia Kremnica gold mine (current JORC
Slide 10: Lutila Gold Project in Relation to the Kremnica Gold Mine
Lutila Gold Project in Relation to the Kremnica Gold Mine** • Kremnica Quartz-Adularia Vein Gold Mine (1328 – 1970) 5km • Historic production (via gravity): est. 1.6Mozs Au • Current JORC (2012) mineral resource estimate: 2.7Mozs Au* • 6km long quartz vein system. • Hosted within andesite volcanic r
Slide 11: Kremnica Vein – The Target
Kremnica Vein – The Target. 11
Slide 12: Lutila Gold Project Historic Soil Geochemistry (As)
Lutila Gold Project Historic Soil Geochemistry (As) 12
Slide 13: Lutila Gold Project Historic Soil Geochemistry (Sb)
Lutila Gold Project Historic Soil Geochemistry (Sb) 13
Slide 14: Lutila Gold Project Čertov vrch Target Area
Lutila Gold Project Čertov vrch Target Area 5km • Erosion has removed the sinters in this target area to expose strongly silicified, brecciated and banded chalcedonic quartz (colloform-crustiform) in rhyolite rocks. • Minor marcasite ± pyrite recognised in non-oxidized portions of the rock. • The go
Slide 15: Lutila Gold Project The Significance of Sinters
Lutila Gold Project The Significance of Sinters (Modern Day Examples from New Zealand) Rhyolite Flow Domes Located Adjacent ‘Hot Spring’ Proximal Sinter Forms Very Slowly Proximal Sinter Forms in the Topographic Lows Proximal Sinter Forms Distinctive Textures Distal Sinter Commonly Includes Flora &
Slide 16: Lutila Gold Project Adjacent Bentonite Mining
Lutila Gold Project Adjacent Bentonite Mining Rhyolite Flow Domes Define the Ridgeline Rhyolite Flow Domes Define the Ridgeline Bentonite Benches Proximal Sinter Lutila 1 – Bentonite Open Pit Jelsovy Potok – Bentonite Open Pit • Bentonite is formed by the alteration of eruptive igneous rocks, usuall
Slide 17: Lutila Gold Project Conceptual Exploration Model
Lutila Gold Project Conceptual Exploration Model No historic exploration drilling has drill tested below this level. Estimated level of current exposure of the Kremnica Gold Deposit. Precious Metal Zone • The Company believes that the current land surface is approximately 200-300m above the precious
Slide 18: Lutila Gold Project Potential Metallurgy
Lutila Gold Project Potential Metallurgy • Beacon Hill Consultants (1988) Ltd. completed a prefeasibility study on the Kremnica Gold Project for Tournigan Gold Corporation with an effective date of July 5, 2007 (the “Study”). The information in the Study is historical information that has not been v
Slide 19: Bulgaria
Bulgaria • EU member since 2007 and NATO member since 2004. NON-EU • No restrictions on foreign ownership. EU SK • 10% corporate tax rate. BG • Royalty: from 0.8% to 4% of gross metal value. • Low-cost profiles, skilled local workforce. • Ada Tepe Gold Mine1 in production (P&P: 4.26Mt @ 4.8g/t Au; T
Slide 20: Bulgaria Current Exploration Activity
Bulgaria Current Exploration Activity • Dundee Precious Metals (TSX: DPM): Chelopech Copper-Gold Mine & Ada Tepe Gold Mine. • Velocity Minerals (TSXV: VLC): “Hub & Spoke” Development Model with Local Partner (CIL plant). • Mundoro Capital (TSXV: MUN): Exploration, Prospect Generator. • Local M&A Act
Slide 21: Western Tethyan Belt Global Metal Inventory
Western Tethyan Belt Global Metal Inventory Porphyry Copper High-Sulfidation Epithermal Moldova Noua: 1.8Mt Cu, 4Moz Au2 Veliki Krivelj: 0.5Mt Cu, 0.4Moz Au2 Low-Sulfidation Epithermal Majdanpek: 2Mt Cu, 4.3Moz Au2 Bor HS: 2.3Mt Cu, 1.4Moz Au2 Other Bigar Hill: 2.1Moz Au1 Cukaru Peki: 1.3Mt Cu, 2.8M
Slide 22: Eastern Rhodope Quartz-Adularia Epithermal Systems & Tenure
Eastern Rhodope Quartz-Adularia Epithermal Systems & Tenure Volcano-Sedimentary Rock Boundary (Approximate) Eastern Resources Kutel Exploration Licence Ag-Pb-Zn Mine Third Party Exploration Licence Quartz-Adularia-Illite Vein Deposit or Occurrence Paleo-Geothermal System (Outline) Ada Tepe Gold Mine
Slide 23: Kostilkovo Gold Project
Kostilkovo Gold Project • Large (10km2) low-sulfidation quartz-adularia epithermal system. • The system is mostly preserved from erosion. • Multiple upflow zones containing quartz-adularia vein material identified with bonanza gold grades from surface quartz vein-float material (88g/t Au & 72g/t Au)
Slide 24: Kostilkovo Major Upflow Zones & Supporting Data
Kostilkovo Major Upflow Zones & Supporting Data (19 DDH for 2,331m) Simplified geological map Historical gold-in-soil sampling (200x200m) Aero-radiometrics (K x U/Th²; linear stretch) 24
Slide 25: Kostilkovo Gold Project
Kostilkovo Gold Project Quartz-adularia vein float material with included fragments of sandstone and conglomerate. Clearly indicating that vein formation took place within the sedimentary rocks of the Krumovgrad Group. 25
Slide 26: We Find Gold.
We Find Gold. • A seasoned group of explorers with a solid track record of discovery. • Expertise and experience with the quartz-adularia deposit style. • “We know what we are looking for.” • Lutila Gold Project • Currently preparing for the maiden diamond drilling programme with an expected Q2 2024
Slide 27: Kostilkovo Alluvial Gold Panned from Creeks Draining the Upflow Zones
Kostilkovo Alluvial Gold Panned from Creeks Draining the Upflow Zones 27 The average size of all alluvial gold grains panned from creeks draining the upflow zones is 390µm (Yovchev, D., 2017)
Slide 28: Appendix
Appendix 28
Slide 29: Kutel Gold Project
Kutel Gold Project • Large (15km²) low-sulfidation quartz-adularia epithermal system. • The system is fully preserved from erosion. • Multiple hydrothermal explosion breccias (HEBs) have been identified containing mineralised quartz-adularia vein fragments. • Two underground base metal mines, one st
Slide 30: Kutel Gold Project
0.03g/t Au, 21g/t Ag 0.20g/t Au, 26g/t Ag Kutel Gold Project HEB with quartz-adularia vein clasts in a silica-hematite rock flour matrix. Fluid pressure increase beneath the impermeable seal (SRT) created hydrothermal explosion breccias that fractured through the impermeable seal into the overlying
Slide 31: Kutel Gold Project
Kutel Gold Project Au Ag As Sb 1km 7km Kumina HEB Historic Soil Geochemistry (200m x 50m) Yavor HEB Kutel HEB A’ A Kutel Gold Project – Conceptual Exploration Model Simplified Geological Map 31
Slide 32: Lutila The Texture Zoning Model
Lutila The Texture Zoning Model (Modified after Morrison et al., 1990) Sinter Field Chalcedonic Superzone (CH) Čertov vrch Target Area Crustiform-Colloform Superzone (CC) Crystalline Superzone (X) 32
Slide 33: Kostilkovo Gold Project: Metallurgy (SGS)
Kostilkovo Gold Project: Metallurgy (SGS) 45001 45002 45006 45004 45003 45005 45007 Au Ag Au Ag Au Ag Au Ag Au Ag Au Ag Au Ag Extracted Grade (g/t) 0.26 23.10 0.31 10.00 1.14 142.55 1.81 1.12 2.08 41.50 39.11 19.62 77.90 31.20 Residue Grade (g/t) 0.02 1.30 0.01 1.45 0.06 6.99 0.11 0.90 0.06 2.07 0.1
Slide 34: Eastern Rhodope Gold Metal Inventory (NI 43-101)
Eastern Rhodope Gold Metal Inventory (NI 43-101) Ada Tepe Gold Mine (TSX: DPM) Dundee Precious Metals Inc. (Effective Date: July 31, 2020) Proven & Probable Reserves Average Resource to 1 Contained Recovered Strip Concentrate Concentrate Actual Cash Gold Au Recovery2 LOM Reserve LOM LOM Mt Metal Met