Navarre's emerging copper belt in western Victoria, Australia

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Navarre Minerals Limited is exploring a new copper belt in western Victoria which has the potential to contain multi-billion dollars of copper mineralisation

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Navarre's emerging copper belt in western Victoria, Australia

  1. 1. SCIENCE  DISCOVERY  GROWTH Navarre Minerals – Emerging Copper Belt in Western Victoria Melbourne Mining Club – Cutting Edge Series Presentation 17 September 2013
  2. 2. Forward-looking statement & disclaimer The information contained in this presentation has been provided by Navarre Minerals Limited (Navarre) and other sources identified herein. No representation or warranty, express or implied, is made by Navarre or any adviser or any of their respective affiliates or representatives as to the accuracy or completeness of such information. Nothing contained in this presentation is or shall be relied upon as, a promise or representation by any of Navarre or any such advisers, their respective affiliates or representatives. The information contained in this presentation is for informational purposes only and is not a recommendation as to whether to invest in Navarre shares. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Unless otherwise specified, data and tables set out in this presentation are based on Navarre management estimates. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Navarre or its directors, or any of their employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, projections, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Past performance is no guarantee of future performance. This presentation includes “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Navarre and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward- looking statements and Navarre assumes no obligation to update such information. The contents of this presentation must not be photocopied, reproduced, disclosed or distributed to any other person without the prior written consent of Navarre. The information in this presentation that relates to Exploration Results, Mineral Resources and Exploration Potential is based on information compiled by Mr Wessley Edgar. Mr Edgar is an employee of Navarre Minerals Limited, is a member of the Australasian Institute of Mining and Metallurgy and is a Competent Person under the definition of the 2012 JORC Code. The Exploration Potential described in this Presentation is conceptual in nature, and there is insufficient information to establish whether further exploration will result in the determination of a Mineral Resource. Mr Edgar consents to the publication of this information in the form and content in which it appears. The information in this presentation that relates to exploration and production targets refers to targets that are conceptual in nature, where there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. The information on porphyry copper and gold exploration targets in this presentation are based on a conceptual range of targets as follows: Tonnage range: 300 million to >500 million tonnes Grade range: 0.3% Cu to 2.0% Cu & 0.2 g/t Au to 2 g/t Au Metal: 1Mt contained copper & >0.5 million ounces of gold ASX Code: NML www.navarre.com.au 2 of 22
  3. 3. Contents 1. Overview 2. Goal & strategy 3. Projects 4. Corporate 3 of 22
  4. 4. Overview Navarre Minerals is a leading Victorian based resources company exploring for gold & copper within emerging and proven mineral corridors  Exposure to gold & copper growth in four mineral corridors  Extensive tenement position  Three major 100%-owned projects:  Eclipse copper-gold porphyry prospect, under- explored emerging Andean-style magmatic arc  Lexington is a copper-molybdenum porphyry prospect near existing JORC oxide copper resource (Thursday’s Gossan)  Tandarra gold prospect is part of an emerging gold district under cover  $1.9 million cash position (July 25, 2013) 4 of 22
  5. 5. Goal & strategy The science of discovery GOAL To define a maiden mineral resource & to become a low cost mineral producer through exploration success FOCUS  Large porphyry copper prospects  Eclipse  Lexington  List of 50 targets generated & prioritised to meet goal  Advancing the shallow open pit potential at Tandarra  Bulk sample treatment of existing drill residues to quantify contained gold distribution DISCIPLINE  Dynamic methodical approach using innovative multi geo-scientific exploration techniques  Financial discipline to conserve cash and create value DISCOVER  Leverage off substantial accumulated recent geological data & project knowledge for exploration planning  Collaborate with government geological agencies (eg. Geological Survey of Victoria)  Prioritise exploration effort within budget parameters 5 of 22
  6. 6. Western Victoria Copper Project Multiple, largely untested targets in 130kms of volcanic rocks Tenements Black Range Copper (Cu), Gold (Au) EL4590 and EL5426 Stavely Copper (Cu), Gold (Au) EL5425 Mitre Copper (Cu), Gold (Au) EL4973 Mineralisation Style Bulk tonnage porphyry copper (Cu) and gold (Au), VHMS (Cu, Pb, Zn, Au), epithermal base metals & gold Deposit Analogues Cadia, Pebble, Grasberg, Mt Lyell 6 of 22
  7. 7. Eclipse New geological thinking leads to recognition of porphyry PREVIOUS EXPLORATION & TARGETING WAS BASED ON A VHMS MODEL  Eclipse geology similar to Mt Read Volcanics of NW Tasmania, host to Mt Lyell and several VHMS deposits such as Rosebery & Hellyer  276.1m @ 0.3% Zn & 0.1g Au/t in DD10BR001 from 1.3m depth to end of hole originally interpreted to be footwall alteration to VHMS system (see 2010 model below) NEW PORPHYRY MODEL BETTER FITS GEOLOGY  Demagnetised geophysical feature co-incident with gravity low & anomalous base metal geochemistry  Massive zone of zinc mineralisation in DD10BR001 is common feature in margins of porphyry copper-gold deposits  Search for mineralisation on west-side of DD10BR001  Porphyry case studies reveal optimum method for detecting buried deposits Copper-rich drill core from DD10BR001 7 of 22
  8. 8. What is a porphyry?  Porphyry copper deposits are large, relatively low-grade, intrusion-related deposits that can be mined using mass mining techniques  Typical economic porphyry deposits have reserves of between 500Mt & several billion tonnes of 0.3 - 2% copper & 0.2 – 2 g/t gold  Porphyry copper deposits are usually associated with gold and/or molybdenum 8 of 22
  9. 9. Porphyry Model Metal zoning & alteration patterns After Kouzmanov, 2012 Cross-section geology Lexington erosional position? Eclipse erosional position? 9 of 22
  10. 10.  Miga Arc speculated to be a subduction-related Andean-style magmatic arc related to the younger Macquarie Arc of central NSW  Miga Arc similar to Mt Read Volcanics based on age & rock type  Miga Arc is dominantly concealed below thin cover and remains under-explored – no deep drill holes  Magmatic arc systems are highly prospective for porphyry copper, VHMS & epithermal-style base metal and gold deposits, eg. Cadia, North Parkes Fore-arc subduction complex Miga Arc – cross-section, after Cayley et al, 2011 Miga Arc Victoria’s new emerging copper belt 10 of 22
  11. 11. Western Victoria Copper Project - Miga Arc Under-explored volcanic province containing large porphyry Cu-Au targets  130 kms of under-explored pacific rim style volcanic belt with no deep drill holes  Near established infrastructure (power, port, rail, highways, workforce & processing facility)  Porphyry-style copper mineralisation confirmed by drilling at Eclipse and Lexington prospects  >276 m of zinc + gold + pyrite hydrothermal alteration in DD10BR001 indicates proximity to porphyry core at Eclipse  Sole diamond hole at Lexington intersects primary copper up to 0.6% and Mo up to 800ppm in altered granodiorite host of Cambrian age  Navarre activities completed:  26 drill holes for 2,200m at Eclipse  Detailed aeromagnetic survey at Eclipse  Soils geochemistry, EM & IP geophysics surveys on Eclipse  Review of recently uncovered historic data for Lexington  Reconnaissance mapping, rock chip & soils at Lexington  50 targets developed for follow-up 11 of 22
  12. 12. Eclipse prospect Partially concealed porphyry copper-gold system  Scale potential – large target area (2900m by 800m) demagnetised feature co-incident with gravity low & anomalous base metal geochemistry  Previous shallow high-grade intercepts include*:  15m @ 0.7% Cu, 1.9% Zn, 0.8g Au/t (RC92GM52)  13m @ 0.7% Cu, 0.2g Au/t, inc. 2m @ 2.2% Cu (RC92GM55)  2.0m @ 3.0% Cu, 2.0g Au/t (RC93GM65)  Alteration assemblages provide vectors to mineralised core  Graben feature a prime target for a porphyry * See Navarre’s December 2010 prospectus Corbett, 1998 12 of 22
  13. 13. Eclipse prospect Conceptual porphyry copper-gold model 13 of 22
  14. 14. Eclipse prospect High-quality targets identified with soils geochemistry  First pass soils geochemistry generates high-quality anomalies containing an overlap of elements considered indicative of a porphyry core  Infill soils program underway to refine anomalies  Induced Polarisation (IP) geophysics follow-up  Drill design Sn W As MoPb Br Bi 14 of 22
  15. 15. Lexington prospect Porphyry copper-molybdenum system Historic information reveals:  Previous exploration confirms porphyry system 15km south of Thursday’s Gossan supergene copper resource  Shallow air-core drilling outlines 500m x 700m >0.1% Cu halo with minor native copper  Co-incident circular magnetic low feature detected in geophysics  Sole diamond hole confirms:  Porphyry-style mineralisation & alteration *  Granodiorite host rock *  Primary copper up to 0.6% *  Molybdenum up to 800ppm * * Source: GSV GEDIS Borehole System (open file data supplied by North Exploration) 15 of 22
  16. 16.  Granodiorite porphyry core Lexington Field reconnaissance highlights potential  Epithermal-style quartz  Sulphide in surface rocks  Highly anomalous geochemistry & associated quartz veining in NE quadrant of demagnetised zone MAGNETIC IMAGE - LEXINGTON DIORITE COMPLEX Pyrite VICT3D1 Chalcocite 16 of 22
  17. 17. 2013-2014 Exploration Program Testing the porphyry copper and gold potential WESTERN VICTORIA COPPER PROJECT ECLIPSE  Infill soils  IP geophysics surveys  Drill targeting and planning LEXINGTON  Assess historic information  Surface geochemical surveys  Geophysics surveys – magnetics & IP  Drill targeting and planning REGIONAL  Regional reconnaissance geology & soils program over geophysical targets  Drill design Eclipse drilling – March 2013 17 of 22
  18. 18. Gold projects – update 18 of 22
  19. 19. Bendigo North - Tandarra Testing the shallow open pit potential  Bendigo-style quartz reef gold under shallow cover  Multiple lines of quartz reef  29 targets detected by CSAMT geophysics  14 confirmed by AC drilling to contain anomalous gold  limited RC drill testing on 2 lines confirms continuity of mineralised structures  Scale potential from multiple shallow quartz reefs, open in most directions  Bulk sample testing of RC drill residues to assist understanding of gold grades  Potential for open pit and underground mining Sample treatment plant – concentrateSample plant - loading samples ACT151 gold 19 of 22
  20. 20. Navarre Board & Management Experience & results Highly experienced leadership team with combined 60 years of exploration and operational experience in Victoria and track-record of bringing projects into production Kevin Wilson - Chairman John Dorward - Non-Executive Director Colin Naylor - Non-Executive Director Geoff McDermott - Managing Director Jane Nosworthy - Company Secretary Wess Edgar - Exploration Manager Jodi Ford - Accountant Marlene Erard - Office Manager 20 of 22
  21. 21. Corporate ASX code: NML (listed 31 March 2011) Shares: 59.6 million Share Price: AUD$0.035 (@ 13 September 2013) Market Capitalisation: $2.1 million (AUD$0.035) Major Shareholders: Crocodile Gold Corp. (owner of Fosterville & Stawell Gold Mines) 9% Board & Management 25% Top 20 shareholders 58% Navarre Minerals Limited Share Price 21 of 22
  22. 22. Geoff McDermott Navarre Minerals Limited 40 – 44 Wimmera Street Stawell VIC Australia 3380 Tel: 03 5358 8625 Website: www.navarre.com.au Email: info@navarre.com.au For more information contact 22 of 22

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