Building the Italian antimony industry


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Objective Capital's Industrial Minerals & Metals Resources Investment Forum 2012
Ironmongers' Hall, City of London
6 November 2012
Speaker: Catherine Feore, Adroit Resources

Published in: Economy & Finance
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Building the Italian antimony industry

  1. 1. INDUSTRIAL MINERALS &METAL RESOURCESINVESTMENT FORUM Building the Italian antimony industry Catherine Feore – Director & VP of Marketing, Adroit ResourcesIRONMONGERS’ HALL, CITY OF LONDON ● TUESDAY, 6 NOV
  2. 2. November 2012Exploring MiningProperties Worldwide A focused explorer and developer of world class mining assets
  3. 3. DisclaimerThis presentation may contain « forward-looking statements » which reflect theCompany’s current expectations regarding the future results of operations, futureanticipated exploration results, performance and achievements of the Company,including potential property acquisitions, the timing, content and results or workprograms, geological interpretations and potential mineral recovery processes andnegotiation and closing of future financings.The statements reflect the current beliefs of the management of the Company, and arebased on currently available information. Accordingly, these statements are subject toknown and unknown risks, uncertainties and other factors, which could cause the actualresults, performance, or achievements of the Company to differ materially from thoseexpressed in, or implied by, these statements.In addition, investors are cautioned that this presentation may contain information aboutmineral properties adjacent to or near the Company’s properties and in which theCompany has no right or interest. Mineral deposits on such adjacent or near propertiesare not indicative of the mineral deposits, if any, which may be found on the Company’sproperties. TSXV: ADT • FSE: A7V 3
  4. 4. Presentation overviewCapital StructureItaly Grosseto ProvinceAntimonyItalian PropertiesCanadian PropertiesManagement TSXV: ADT • FSE: A7V 4
  5. 5. Capital Structure (Oct 2012) Current Market: $.05 52 wk Price Range: $.035 - $.07 Shares outstanding: 158,403,209 Fully diluted: 228,579,152 Market Cap (millions): $8 M Approx. Insider Holdings: 11%TSXV: ADT • FSE: A7V 5
  6. 6. Italy- GrossetoItaly – World-class mine district :Former world-class mine district, 577 mines still producing industrial materials and 38 geothermal power stations. Italian projectFormer Antimony and Antimony Trioxide producer: officeMajor world antimony producing Manciano area, Grosseto Province.Excellent infrastructureGood roads, potential location for processing plant, deep-sea port of Civitvecchia (~50km), nearby international airports, can work throughout year. TSXV: ADT • FSE: A7V 6
  7. 7. Current exploration work programme:• Preparation for drilling of historic antimony resources and soil sampling, mapping and IP work on new permits. TSXV: ADT • FSE: A7V 7
  8. 8. Antimony – Flame Retardant, 57% TSXV: ADT • FSE: A7V 8
  9. 9. Antimony – PET and Polyester, 14% and increasing TSXV: ADT • FSE: A7V 9
  10. 10. Antimony – Other uses Solar panel AmmunitionLead acid battery + Touchscreens and semi- micro-capacitors conductorsLED and OLED screens Ceramics and glass TSXV: ADT • FSE: A7V 10
  11. 11. TSXV: ADT • FSE: A7V 11
  12. 12. Supply of Antimony• Chinese production decreasing : 166,000 t (2008), down to 150,000 t (2010) - 50% from one company est. 5 years of reserves• Crustal abundance 200ppb, less than many so called rare earth elements• Estimated 13 yrs of global reserves left• Export duties and quantitative limits imposed by China, Argentina, Pakistan, Indonesia and Vietnam – and strategic stockpiling in US for defence purposes• Additional Chinese capacity purchased - Beaver Brook, Canada and Anchor, Australia TSXV: ADT • FSE: A7V 12
  13. 13. Demand for Antimony• China introduces import subsidies in 2011• EU places Antimony on ‘Critical List of 14 Raw Materials’• US and EU currently 100% dependent on imports• British Geological Survey places in a very high risk category TSXV: ADT • FSE: A7V 13
  14. 14. The Antimony Business• Antimony prices recently climbed to over $14,000/t corrected to $12,200/t ($5,53 per pound)• Forecast to rise with increasing supply constraints. Roskill estimates up to $14,000/t by 2016 Sb price (sources: 14 TSXV: ADT • FSE: A7V
  15. 15. Antimony compared to other strategic metals TSXV: ADT • FSE: A7V 15
  16. 16. ADT’s Current Exploration Permits:• I Monti 273 hectares• Poggio Fogari 439 hectares• I Salaioli 366 hectares• Poggio Monticchio 162 hectares• Faggio Scritto 246 hectares• Poggio Pietricci 653 hectares• Selvena 382 hectares• Catabbio 926 hectares• Valle Lupara 388 hectares• Total hectares 3,835 hectares TSXV: ADT • FSE: A7V 16
  17. 17. Former Producing Permits• Located in major, recently producing, Manciano area, Grosseto Province, Italy• Historic antimony resources drilled in ‘81/’82 with a view to providing feed for the mine processing facility TSXV: ADT • FSE: A7V 17
  18. 18. ADT & Antimony in ItalyObjectiveTo recommence mining of antimony and other metals (Au, Ag, Sn)How will we do it?1. Current historic resources are over 45,000 tonnes of contained metal (not ore) and 43-101 resource calculation drilling is to commence in 2013.2. We plan to increase this to at least 100,000 tonnes of mineable antimony (Sb) resources in 43-101 resource calculations for a 10 year mine life TSXV: ADT • FSE: A7V 18
  19. 19. Soil Sampling InterpretationHigh grade,historicresource, 1.58%High grade soil,1 -2%, SbMed. grade soil,0.5 – 1%, SbHigh Grade, oldmine, 10.9%, Sb TSXV: ADT • FSE: A7V 19
  20. 20. Three new permits : Selvena, Catabbio, Valle Lupara TSXV: ADT • FSE: A7V 20
  21. 21. Outline Drilling Plan - Resource Calculation and Discovery TSXV: ADT • FSE: A7V 21
  22. 22. TSXV: ADT • FSE: A7V 22
  23. 23. Poggio Pietricci and Faggio Scritto - other metals1989 - Anglo/AGIP Drill Programme, 28 holes were drilled with 26 holesreturning Au values. Hole H intercepted 22.5 meters of 18.56 g/t fromthe surface. Including - 34.89 g/t over 7.8 meters from surface plus ahigh grade "sweetener" at 15.7 meters of 98.96 g/t over 1.75 meters.1997/8 - NEBEX Exploration Programme,16 AGIP holes were sampledwith 0.4g/t Au + analysis only considered, this produced 78 samplegrading between 0.4 to 9.5 g/t Au.2006 - Adroit Confirmatory Drill Programme. 3 holes confirmed thepresence of Au. The best results were obtained from PP004, where theoverall mineralized envelope extends from surface to a depth of 44.4m.Au grade averages in that interval 0.4g/t, Ag averages 18g/t. Thebroader mineralized envelope includes a 4.7m interval (29.9-34.6m)yielding 1.24g/t Au and 35.6g/t Ag. The highest value of Auencountered is 1.375g/t and covers an interval of 3.4m (31.2-34.6m). TSXV: ADT • FSE: A7V 23
  24. 24. Focus on Canadian Properties• Under-explored properties• Regions known to contain prolific deposits• Abitibi greenstone belt renowned for past discoveries of volcanogenic massive sulphide (VMS) deposits• Produced in excess of 450 Mt of Copper-Zinc ore to date TSXV: ADT • FSE: A7V 24
  25. 25. South Timmins/Shining Tree Camp - Red Vein Property ADT – Under-explored, the area has 144.32km2 been the focus of a number of recent gold discoveries : ADT – 17.76km2 SGX Resources (Edelston zone and Sirola gold zones) Xstrata Sothman Nickel Deposit ADT - 199.36km2 VMS System discovery (Cu/Au or Cu/Pb/Zn) Little Pigeon Lake : NI 43-101, Inferred McIntyre Type Deposit , on Gold boulder poly-metallic vein (Cu/Au) and Tittley gold showing Mineral Mountain (Cook gold zone); Creso (Tyranite extension, Minto and Duggan gold discoveries) TSXV: ADT • FSE: A7V 25
  26. 26. Red Vein Target – Little Pigeon Lake Geological Model• ADT field work shown inferred McIntyre Deposit - NI 43-101 report refers• McIntyre Deposit is an intrusive-hosted vein and disseminated Cu-Au-Ag-Mo deposit and gold-pyrite- quartz vein system clustered around the Pearl Lake porphry intrusive• Mined between 1912 and 1988 producing 35 million oz Au, 7 million oz Ag and 100,000 tons Cu• Recovered grades were 0.59 g/t Au, 2.39 g/t Ag and 0.59% Cu. Unrecovered Mo at 0.05% TSXV: ADT • FSE: A7V 26
  27. 27. Directors, Officers and ConsultantsGraeme Rowland, Chairman/President (Brussels)Dr Mark Fedikow, Director/VP Exploration (Winnipeg)Dave Hutcheson, Director (Brussels)Catherine Feore, Director /VP Marketing (Brussels)Bill Jung, Chief Financial Officer (Vancouver)Frances Murphy, Company Secretary (Vancouver)Terry King, Corporate Counsel (Vancouver) TSXV: ADT • FSE: A7V 27
  28. 28. Technical ManagementDr Mark Fedikow PhD P.Eng P.Geo C.P.GVice President ExplorationGrosseto Province Team:RMN S.r.l. – Risorse dei Minerali Naturali SRL (Subsidiary of ADT Inc.)Davide Franceschelli – RMN Manager, GeologistDr. Geol. Gabriele Canzonettii of GAMMA GEOSERVIZI s.r.l. - Works DirectorKarolina Cienkuszewska – Management administratorDr.ssa Daniela Vignali of Oikos Engineering s.r.l. - Environmental EngineeringAdvisor TSXV: ADT • FSE: A7V 28