Antipodes Gold is focused on developing the Wharekirauponga gold project (WKP) in New Zealand. WKP has an inferred resource of 260,000 oz gold and the company plans to spend $4 million on a 5,000 meter drilling program to increase resources. The goal is to define a higher grade, near-mine resource that could potentially be developed within 3 years and form the basis of preliminary economic studies. Antipodes recently renegotiated its joint venture with Newmont, who owns 65%, to gain control of the project and earn back to a 51% stake through sole funding the drilling program.
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Disclaimer and Qualified Person
Statements contained within this presentation, other than statements of historical fact,
are “forward-looking information” with respect to Antipodes Gold Limited (“Antipodes
Gold”) within the meaning of applicable Canadian securities laws. Such forward-looking
information is subject to risks and uncertainties which could cause actual results to differ
materially from results. Antipodes Gold disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new information, future
events or otherwise. Accordingly, readers should not place undue reliance on forward-looking
information.
(1) For further details on WKP, including determination of grade, cut-off, metallurgical
recovery factors, assay quality control and assurance, and data verification and etc
relating to the estimate, please view the NI 43-101 technical report entitled ‘Technical
Report On The Mineral Resource Estimate For The Wharekirauponga Project, New
Zealand’, dated 05 July 2013, prepared by RPA filed on SEDAR (www.sedar.com) The
author is independent and a “Qualified Person” as defined by NI 43-101.
(2) Mr Simon Henderson, MSc Geology (CODES), an AusIMM Chartered Professional
under the Discipline of Geology; is a Qualified Person as defined by National Instrument
43-101 and an employee of the Company, and has reviewed and approved the contents
of this presentation.
All currency is quoted in Canadian dollars.
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Antipodes Gold: Overview
1. Revised and focused company.
• Deliverable objectives, fresh leadership, compelling asset, skilled team.
2. Strong asset, strategic development path.
• WKP has high grade and scalable gold mining potential with established
infrastructure, partnership and pathway-to-mine.
• Mining neighbour Newmont now at 65%, program sees Antipodes Gold taking
management control during earn-back to 51%.
3. Clear development target.
• Significant, geologically continuous and under-drilled vein structure with high-grade
potential matching regional mines.
• 5,000m DDH program proposed to infill, extend and enhance potential resource –
goal is definition of near-mine, higher grade resource as a keystone of WKP
development.
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Antipodes Gold: Company Evolution
• Before March 2014, Antipodes was Glass Earth Gold – a junior gold explorer
founded in 2002, listed Toronto TSX.V 2005, and New Zealand NZAX 2006.
• The strategy of Glass Earth Gold: undertaking greenfields scientific exploration
and project generation, with selective targeting of new prospects throughout New
Zealand’s historic goldfields.
• Antipodes Gold has undertaken a change of management and renegotiated its
key JVA, and is now a company tightly focused on development and definition of
one of Glass Earth Gold’s early high-ranking targets – WKP.
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Revised Board and Management:
• Adrian Fleming BSc (Hons), MAusIMM (CP) – Chairman (March 2014):
40 years geological exploration and successful project development (Underworld
Resources, Prosperity Goldfields).
• Thomas Rabone LLB/BCom – CEO (March 2014):
Background in transaction/commercial law, negotiation and management, and New
Zealand gold mining.
• Simon Henderson MSc, MAusIMM (CP) – Director and Exploration Manager:
35 years experience in gold exploration, supporting mine developments at Waihi (New
Zealand) and Tanami (Australia).
• Justin Cochrane CFA – Non Executive Director:
Background in investment banking and transaction advice, EVP at Sandstorm
Gold/Metals and Energy.
• Peter Liddle BCom, CA – Company Secretary:
30 years in financial services industry with focus on listed Australasian resources
companies.
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Capital Structure:
• Shares outstanding: 10,566,559
• Trading price: $0.055
• Insider holding: 2%
• Key shareholders:
New Zealand
Accident Compensation Corporation
Tattersfield Securities Limited
Woolwich International Holdings Limited
Auriferous Mining Limited
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International
Sprott Asset Management
Galena Capital Partners
Worldover Capital
Ernesto Echavarria
7. Key Property Location
New Zealand’s Hauraki Goldfield – 10.65 MozAu historical epithermal gold production.
WKP Gold Project:
Antipodes Gold 35%
Newmont Waihi Gold 65%
• Acquired by Glass Earth Gold as key
0 km 20
Historic Gold Occurrences
Antipodes Gold Joint
Venture Permits
target 2006,
• Newmont earn-in to 65% through
regional and target exploration.
• 150 km to Auckland International
Airport,
• 20 km to Waihi Gold operations.
Thames Goldfield 1.4M oz , 1864-1940,Reference Mineral Deposits of New Zealand
Monograph 13, AUSIMM 1989.The Hauraki Goldfield, Mineralisation and Recent
Exploration RL Brathwaite, AB Christie, DNB Skinner, NZGS 1987.
Gold Cross Mine 662,000 oz from 5,1367,300 t ore 1991-1998 (Combined historic and
recent mining) 775,000 oz gold and 2.3M oz silver. At closure estimated resources
350,000 t @ 5 g/t ~ 56,000 oz gold remaining) Geology and Exploration of New Zealand
Mineral Deposits Monograph 25, AUSIMM 2006The Golden Cross Epithermal Au-Ag
Deposit, Hauraki GoldfieldJL Mauk, A Purvis.
Thames Goldfield: 1.4
Moz Au 1864-1940
Golden Cross Gold
Mine: 662 koz Au
1991-1998
N
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Auckland
Newmont Waihi
Gold:
Martha, Favona, Trio
and Correnso Mines
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Newmont Waihi Gold
Progressive underground high-grade development, restricted resource pipeline.
2. Favona and Moonlight:
2006-2012: 409 koz @ 8.2 g/t Au
4. Correnso:
2014-onwards:
Inferred Resources: 191 koz @ 10.4 g/t Au
Indicated Resources: 154 koz @ 12.7 g/t Au
3. Trio:
2012-present: 54 koz @ 5.4 g/t Au
P+P Reserves: 66 koz @ 9.0 g/t Au
0 km 1
1. Martha:
1882-1952, 4.93 Moz Au.
1982-present, open pit, 2.41 Moz Au.
7.34 Moz Au to date
New U/G Development
Vein Structures
Antipodes Gold Permit
Mineral Resource and Reserve Estimates as reported by Newmont on 20/02/2104 for 2013 Annual Report
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Key Property Location –WKP
10 km NNW of Newmont Waihi operations, in the southern Hauraki Goldfield.
Golden Cross
Gold Mine
0 km 2
Newmont Waihi
Gold Mines
WKP Gold Project
Antipodes Gold 35%
Newmont 65%
Sealed road and power to Waihi
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The WKP Joint Venture
From 2010 Newmont earns 65% of JV through regional and target exploration.
Resistivity Magnetics
JV Drilling
Legacy Drilling
Magnetic Low
Boundary
Drainages
• 1978-1993: 5,500 m
previous drilling by Amoco,
BHP, ACM targeting
eastern stockwork zone.
• 2010-2013: 7,607 m DDH
drilling by JV targets new
resistive structures within
magnetic low.
N
0 km 1
Low High
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Drilling Highlights
JV drilling in 2010-2013 makes fresh discoveries with high-grade potential.
T Stream Vein Structure
selected highlights:
WKP24 5 m @ 13.49 g/t Au
incl 0.8 m @ 49.8 g/t Au
WKP25 15 m @ 8.58 g/t Au
incl 0.8 m @ 94.8 g/t Au
all high grade intercepts table 14-6
NE Vein Stockwork
selected broad low grade
intersection:
WKP26 151.0 m @ 1.2 g/t Au
Resource Blocks
T Stream Vein
JV Drilling
Legacy Drilling
Magnetic Low
Drainages
N
0 km 1
Included within T-Stream Fw Domain:
Western Zone*
selected high grade intercept:
WKP29 3.2 m @ 37.0 g/t Au
Eastern Graben (EG) Vein
Breccia*
selected high grade intercept:
WKP 6.6 m @ 4.4 g/t Au
For further details on WKP, including determination of grade, cut-off, metallurgical recovery factors, assay quality control and assurance, and
data verification etc relating to these estimates, please view the NI 43-101 technical report entitled ‘Technical Report On The Mineral
Resource Estimate For The Wharekirauponga Project, New Zealand’, dated 29 July 2013, prepared by Roscoe Postle Associates Inc. and
filed under Antipodes Gold’s Issuer Profile on SEDAR (www.sedar.com). The author is independent of Antipodes Gold and is a “Qualified
Person” as defined by NI 43 -01.
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July 2013: Estimating WKP Resources
NI-43101 report: Initial Inferred Resources; upside perceived, drilling endorsed.
Resource Blocks
T Stream Vein
JV Drilling
Legacy Drilling
Magnetic Low
Drainages
N
0 km 1
T Stream Vein Structure
890,000 t @ 6.9 g/t Au, 197,000 oz Au
“A significant mineral discovery that merits further
drill testing along strike and along its up- and down-dip
extensions” (1)
NE Vein Stockwork
330,000 t @ 4.5 g/t Au,
53,000 oz Au
Included within “T-Stream Fw”
Domain:
Western Zone*
90,000 t @ 9.7 g/t Au,
27,000 oz Au
Eastern Graben (EG) Vein
Breccia*
90,000 t @ 4.4 g/t Au,
13,000 oz Au
N
For further details on WKP, including determination of grade, cut-off, metallurgical recovery factors, assay quality control and assurance, and
data verification etc relating to these estimates, please view the NI 43-101 technical report entitled ‘Technical Report On The Mineral
Resource Estimate For The Wharekirauponga Project, New Zealand’, dated 29 July 2013, prepared by Roscoe Postle Associates Inc. and
filed under Antipodes Gold’s Issuer Profile on SEDAR (www.sedar.com). The author is independent of Antipodes Gold and is a “Qualified
Person” as defined by NI 43 -01. (1) NI 43-101 Page 7-12.
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T-Stream Program Upside
Unconstrained with strong geologic continuity, >75% of interpreted structure untested.
T-Stream Long Section
Plan View
?
?
A
A’
A
A’
B
B’
Cross-Section
B’
B
Current Resource Outline
JV Drill Traces: 11/12 intercepted
Potential Drill Traces: 5,000 m DDH
T-Stream: interpreted vein structure
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February 2014: Rebooting the JVA
Antipodes Gold has clear pathway for resource and company development.
• Antipodes Gold/Newmont JVA successfully renegotiated
March 2014:
• Direct control and steerage: Antipodes to take over as JV manager.
• Accelerate project and grow stake: sole-fund of proposed 5,000 m
DDH program forecast to take Antipodes to 51%.
• Newmont claw-back election once at 49% - stake re-earned
through 3x spending.
• Fundamental change to company direction – allows
strong ongoing collaboration, and project generation
opportunities.
• Work starts at the T-Stream Vein Structure.
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T-Stream Program
$4M budgeted for 5,000 m DDH program and resource estimation in 2014-2015.
• Goals of technical program:
• increase tonnage of estimable high
grade Mineral Resource,
• improve status of NI 43-101
assessment confidence,
• complete preliminary economic
assessment (PEA).
• Resource delineation/market
communication goals:
Drilling commences: goal two holes per month Resource estimate revision
Metallurgy, engineering, and environmental assessment
Preliminary economic studies
June 2014 January 2015 June 2015
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Conclusion
Antipodes’ objective in launching the T-Stream technical program
is to improve and grow definition of mineral resources at WKP, in
order to provide:
1. direct investor upside by growing estimable ounces and their
quality,
2. a clear path-to-mine through confirmation of Newmont-ready
resources, and
3. an enhanced understanding of the wider potential of the WKP
system.
For more information please visit antipodesgold.com,
or contact thomas.rabone@antipodesgold.com
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Summary Features
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O/C quartz veins WKP
Drill core WKP35
Electrum (gold/silver) WKP29
Feature Details
High grade: Inferred Resource estimate 2013: 260,000 oz @ 6 g/t Au
Target vein structure:
T-stream quartz breccia: example intercept highlights 5 m @ 13, 15 m @
9 g/t Au
Size: 25% structure tested to date, strong exploration upside
Geology: Adularia-sericite epithermal vein
District:
50 gold deposits, 10 M oz Au Martha gold mine operating within 10 km
(Newmont)
Metallurgy
Native gold/electrum, argentite, arsenopyrite and chalcopyrite, studies
planned.
Mineability
High grade underground T-Stream vein breccia, similar to
Martha/Favona/Golden Cross underground systems, studies planned.
Infrastructure Egress via tar sealed road and power to within 3 km
Processing Plant 10 km from Newmont plant, processing rights via JV
Environmental
Government-owned "Forest Park", under DoC stewardship. Public
support for sustainable and productive developments
Jurisdiction
Stable, safe and skilled. Fraser Institute Survey of Mining Companies:
ranking #14/112 mining jurisdictions
Time
Mine decision within 36 months. Permitted drilling to commence
immediately
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NI 43-101 Report Table 14-5
Mineral Resource Report by Cut-off Grade, May 31, 2013
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NI 43-101 Report Table 14-6
Mineral Resource Report by Vein/Domain, May 31, 2013
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Technical Program Budget
Antipodes Gold – WKP Project – 06/2014 to 06/2015
Item C$ 000's
Direct drilling costs (5,000 m at $320/m) 1,600
Drill access costs 800
Sample and analytical costs (2,200 at $50 each) 110
Metallurgical testwork 50
Environmental work 100
Land and Legal costs 200
Scoping Study 100
Admin and other logistical costs 400
Sub-total 3,360
Contingency (10%) 336
Total $3,696
• $4M budgeted for 5,000m DDH program ending June 2015.
• G&A currently estimated at 18% of total in-ground expenditure.