PDAC 2011BRUCE GRIFFIN – CHIEF EXECUTIVE OFFICER         TORONTO MARCH 2011
PDAC 2011                                                                  2                                              ...
PDAC 2011                                 3Papua New GuineaMajor gold/copper production …•   OK Tedi, Porgera, Lihr, Hidde...
PDAC 2011                     4MIL Resources (ASX:MGK)Large Papua New Guinea land position•   14 exploration licences and ...
PDAC 2011   5Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
PDAC 2011   6Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
PDAC 2011                                    7South East Papua GoldPoi                                            Golden P...
PDAC 2011   8Poi•   EL 1628 and ELA 1643, 100% MIL•   Porphyry gold-copper•   Radiometric anomaly 11km x 1.5km open    alo...
PDAC 2011                                  9Golden Peak•   Recent assays:                    •   Gold geochemistry over se...
PDAC 2011                                    10Domara•   EL 1637, 100% MIL                                 •   South of Pa...
PDAC 2011                                   11New Britain Gold•   EL 1640 and 1642, 100% MIL                       •   Ess...
PDAC 2011                                     12New Ireland GoldLegusulum                                        Palabong•...
PDAC 2011                              13Amazon Bay•   EL 1396, 1623 and 1681•   42% MIL Resources, earning to 51%•   Stra...
PDAC 2011   14Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
PDAC 2011                15Building a strong team•   Two field geologists already engaged to supervise PNG work programs  ...
PDAC 2011   16Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
PDAC 2011                                           17Golden Peak•   Preferred first drill targets     • Simple logistics ...
PDAC 2011                 18Poi•   2 targets defined in 2010     • Aladdins         20m @ 7.17 g/t Au, 0.50% Cu and 9.60 ...
PDAC 2011                             19Other PNG Gold/CopperLegusulum•   Conduct and interpret geophysical surveys to def...
PDAC 2011            20Amazon Bay•   Improve understanding of ore body     • Drill 3 reconnaissance lines to define inland...
PDAC 2011                                21Work Program – Timing                  1H 2011                  2H 2011        ...
PDAC 2011                       22Work Program – Cost•   2011 expenditure of $3m – $4m     Define and drill Golden Peak t...
PDAC 2011   23Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
PDAC 2011          24March 2011 Fund Raising•   Raise ~$4.25m net•   Placement      35m shares at 2c      Sophisticated,...
PDAC 2011   25Ongoing news flow in 2011•   Golden Peak      Geochem      Drilling•   Poi      Expert review      Geoch...
PDAC 2011                 26Share price and capital structureCapital Structure (as at 25 February 2011)•   Market Capitali...
Upcoming SlideShare
Loading in...5
×

Pdac presentation march2011

1,142

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
1,142
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Pdac presentation march2011

  1. 1. PDAC 2011BRUCE GRIFFIN – CHIEF EXECUTIVE OFFICER TORONTO MARCH 2011
  2. 2. PDAC 2011 2 MIL RESOURCES LTD NOTICE AND DISCLAIMER CAUTIONARY STATEMENTThis document has been prepared by MIL Resources Ltd (the Company). This document contains background information about the Companyand its projects current at the date of this document. It does not purport to be all inclusive or complete. Recipients should conduct their owninvestigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statementsand opinions contained in this document.The document is for information purposes only. Neither the document nor the information contained in it constitutes an offer, invitation,solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This document may not be distributed in anyjurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of therestrictions that apply in their own jurisdiction.To the fullest extent permitted by law, MIL Resources Ltd, its officers, employees, agents and advisers do not make any representation orwarranty, expressed or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates,forecasts or other representations contained in this document. No responsibility for any errors in or omissions from this document is accepted.This document contains "forward-looking statements". Such forward-looking statements include, without limitation, (i) estimates of futureearnings, and the sensitivity of earnings to metals prices; (ii) estimates of future production/sales (iii) estimates of future cash costs; (iv)estimates of future cash flows, and the sensitivity of cash flows; (v) statements regarding future debt arrangements; (vi) estimates of futurecapital expenditures; (vii) estimates of reserves and (viii) the timing or results of permitting, construction and production activities.Where MIL Resources Ltd expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed ingood faith and believed to have a reasonable basis.However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materiallyfrom future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, metals pricevolatility, currency fluctuations, increased production costs, variances in ore grade or recovery rates from those assumed, as well as politicaland operational risks in the countries in which we operate and governmental regulation and judicial outcomes.The Company does not undertake any obligation to release publicly any revisions to any "forward-looking statement" to reflect events orcircumstances after the date of this document, or to reflect the occurrence of unanticipated events.To the extent that there is information set out in this document any potential quantity and grade is conceptual in nature, there has beeninsufficient exploration to define a mineral resource under the JORC Code and it is uncertain if further exploration will result in the determinationof a mineral resource under the JORC Code.The information contained in this document that relates to Exploration Results or Mineral Resources or Ore Reserves is based on informationcompiled by John Haggman who is a Member of the Australian Institute of Geoscientists. Mr. Haggman is a director of MIL Resources Ltd. Mr.Haggman has sufficient experience which is relevant to the style of mineral deposits under consideration and to the activity which he isundertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Mineral Resources andOre Reserves”. Mr Haggman consents to the inclusion in this presentation of the matters based on his information in the form and context inwhich it appears.
  3. 3. PDAC 2011 3Papua New GuineaMajor gold/copper production …• OK Tedi, Porgera, Lihr, Hidden Valley, Simberiand projects• Frieda, Yandera, Wafi-Gulpu, WoodlarkMajor gold companies exploring in PNG …• Barrick, Newcrest, Harmony, Newmont, Highlands Pacificas well as juniors• Coppermoly, Frontier, Gold Anomaly, Goldminex, Papuan Precious Metals and othersLarge investments are being made in PNG• LNG Project, Ramu, Hidden Valley
  4. 4. PDAC 2011 4MIL Resources (ASX:MGK)Large Papua New Guinea land position• 14 exploration licences and exploration licence applications• More than 10,000km2Track record of grant and renewal• Amazon Bay granted in December 2005 and renewed twice• Support from warden hearings for ELA and EL renewals in late 2010Achieving on the ground results• Amazon Bay – airborne geophysics, drilling and metallurgical testing• Poi – airborne geophysics, extensive sampling trenching• Golden Peak – sampling and trenching• Domara – airborne geophysics
  5. 5. PDAC 2011 5Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
  6. 6. PDAC 2011 6Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
  7. 7. PDAC 2011 7South East Papua GoldPoi Golden Peak• 11km x 1.5km geophysical anomaly • 800m X 2000m alteration zone • Gold geochemistry over several km2• Coincident gold geochemistry over 9 prospects Domara• Characteristics of large porphyry gold • Radiometric anomalies identified copper systems found in island arc settings such as PNG • Adjoining Papuan Precious Metals and Goldminex tenements
  8. 8. PDAC 2011 8Poi• EL 1628 and ELA 1643, 100% MIL• Porphyry gold-copper• Radiometric anomaly 11km x 1.5km open along strike• Coincident with cross-cutting radiometric structures and anomalous geochemistry• Prominent NE – SW transfer structure• 9 gold zones defined by stream geochemistry over 27 km2• Aladdins prospect trenching  20m @ 7.17g/t Au, 0.50%Cu and 9.60g/t Ag• Visible gold in streams
  9. 9. PDAC 2011 9Golden Peak• Recent assays: • Gold geochemistry over several km2  20m of 7.2 g/t Au • EL 1625, 100% MIL  Including 6m of 22.4 g/t Au • 40km east of Port Moresby
  10. 10. PDAC 2011 10Domara• EL 1637, 100% MIL • South of Papuan Precious Metals EL1424• Radiometric anomalies defined • 3 Cu/Au porphyry structures • 2Ni/PGM targets • … and Goldminex EL1576 • elevated gold in drainage geochemistry Domara Geophysical Targets (after Steve Collins – Arctan Geophysical Services)
  11. 11. PDAC 2011 11New Britain Gold• EL 1640 and 1642, 100% MIL • Esso Minerals (1982-3) & CRA (1985)• Copper-molybdenum-gold systems identified high-grade gold:• EL’s located close to : • Dagi South (18.4g/t Au) • Barrick / Coppermoly $20M JV area • Ania South (10.7g/t Au) • Ok Tedi / Frontier’s $36 million JV areas • Gasmata (10.8g/t Au) • Yonathan River (50.1g/t Au)
  12. 12. PDAC 2011 12New Ireland GoldLegusulum Palabong• ELA 1638, 100% MIL • ELA 1645, 100% MIL• Legusulum Cu/Au/Mo deposit • Porphyry copper-gold targets • 70m thick leached cap over 1km2 • Rockchips to 6.1g/t Au • Weitin River caldera with copper stream sediment anomaly• Explored by Swiss Aluminium during early 1970’s Mussau and Tanga Islands • 13 DDH’s total 1500m • Ave depth 115m, Ave grade 0.25% Cu • ELA 1818 and 1639, 100% MIL • Located on the Simberi – Lihir – Tanga - Feni Island chain (hosts over 49 mOz of gold resources) • 10km x 5km zone of epithermal quartz float - rock chips returning 28 g/t Au at Mussau • Epithermal gold with assays to 2.0g/t Au at Tanga
  13. 13. PDAC 2011 13Amazon Bay• EL 1396, 1623 and 1681• 42% MIL Resources, earning to 51%• Strandlines along 70km of coast• Exploration target of 3 – 4 billion tonnes of vanadium rich magnetite ironsands potentially containing +200Mt of concentrate• Preliminary metallurgy produced concentrate grading 1.02% V205, 52.3% Fe, 17.3% Ti02, 3.5% Si02, 1.8% Al203• Vanadium content of 1.02% V205 compares favourably to other projects, for example; Balla Balla Atlas Iron Limited 0.63% V2O5 Windamurra Atlantic Limited 0.47% V2O5 Ballambie Reed Resources 0.82% V2O5
  14. 14. PDAC 2011 14Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
  15. 15. PDAC 2011 15Building a strong team• Two field geologists already engaged to supervise PNG work programs  Recruit one additional field geologist• Exploration manager to manage overall exploration program  Recruit an experienced exploration manager in 1H 2011• Manager in place to manage community and PNG government relations• Utilizing external experts to supplement internal knowledge• Full time CEO appointed in November 2010• Experienced and knowledgeable Board
  16. 16. PDAC 2011 16Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
  17. 17. PDAC 2011 17Golden Peak• Preferred first drill targets • Simple logistics by PNG standards (40km from Port Moresby) • Well defined targets• 2010 trenching and sampling provided location control for historical results• 2011 Program: • Continue trenching and sampling to recreate Elders high grade results - Completed  20m of 7.2 g/t Au  Including 6m of 22.4 g/t Au • Extend trenching and sampling to determine the extent of high grade mineralization and define drill targets • If successful:  Drill up to 2000m into targets
  18. 18. PDAC 2011 18Poi• 2 targets defined in 2010 • Aladdins  20m @ 7.17 g/t Au, 0.50% Cu and 9.60 g/t Ag  including 2m @ 41.5 g/t Au and 2m @ 31.6 /t Ag • Wallaby Ridge• Awaiting further trenching and sampling results and interpretation• 2011 Program: • Technical expert review to refine model • Continue trenching and sampling to define drill targets • If successful:  Drill up to 2000m into 3 targets – 6000m in total • Extend geochemical sampling to test northern and southern extension
  19. 19. PDAC 2011 19Other PNG Gold/CopperLegusulum• Conduct and interpret geophysical surveys to define drill target• If successful, drill up to 5000m into targetNew Britain• Commence geochemical sampling, follow up with geophysical surveysPalabong• Commence geochemical sampling, follow up with geophysical surveysMassau Island• Conduct and interpret geophysical surveys, follow up with geochemical sampling
  20. 20. PDAC 2011 20Amazon Bay• Improve understanding of ore body • Drill 3 reconnaissance lines to define inland strandlines• Investigate options to enhance preferred flow sheet• Actively seeking partners for development • Vanadium rich titanomagnetite concentrate into China
  21. 21. PDAC 2011 21Work Program – Timing 1H 2011 2H 2011 2012Golden Peak Geochem Sampling Drill up to 2000mPoi Geochem Sampling Drill up to 6000mLegusulum Geophysics Drill up to 5000m EL Grant?New Britain Geochem Sampling Geophysics EL Grant?Palabong Geochem Sampling Geophysics EL Grant?Massau Is. Geophysics Geochem Sampling EL Grant?Amazon Bay Drill 3 Lines
  22. 22. PDAC 2011 22Work Program – Cost• 2011 expenditure of $3m – $4m  Define and drill Golden Peak targets  Define and commence drilling 3 Poi targets  Acquire geophysics, define Legusulum drill target, commence drilling  Exploration work on New Britain, Palabong and Massau Island  Drill 3 reconnaissance lines at Amazon Bay  Build and maintain capability
  23. 23. PDAC 2011 23Agenda• Excellent land position• Building a strong team• Adding value• Fund raising
  24. 24. PDAC 2011 24March 2011 Fund Raising• Raise ~$4.25m net• Placement  35m shares at 2c  Sophisticated, professional and institutional investors• Fully underwritten 3 for 5 entitlement offer  Approximately 190m shares at 2c  Australian and New Zealand shareholders
  25. 25. PDAC 2011 25Ongoing news flow in 2011• Golden Peak  Geochem  Drilling• Poi  Expert review  Geochem  Drilling• Legusulum  Geophysics  Drilling• New Britain/Palabong/Massau Island  Initial Geochem/Geophysics
  26. 26. PDAC 2011 26Share price and capital structureCapital Structure (as at 25 February 2011)• Market Capitalisation $11.9m as at 25 February 2011• 339,879,819 shares• 60,329,111 listed 31 May 2012 options• 33,333,333 unlisted redeemable preference shares• 26,900,183 unlisted options (various exercise dates and prices)
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×