annual general meeting geological presentation · 11/30/2012 · this presentation may contain...
TRANSCRIPT
Steve Adamson Exploration Manager www.altiusmining.com.au ASX: AYM
Annual General Meeting Geological Presentation
30 November 2012
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Forward-Looking Statement This presentation may contain certain forward-looking statements regarding (i) estimated resources and reserves, (ii) planned production and operating costs profiles, (iii) planned capital requirements and (iv) plans, strategies and corporate objectives. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Altius Mining Limited. The forward-looking statements are inherently uncertain and may therefore differ materially from results ultimately achieved. External and other factors may impact the Company and affect the forward-looking statements in this release since its preparation. Subject to applicable law and ASX listing rules, Altius Mining Limited does not intend to publicly update any of the forward-looking statements or any assumptions on which any such forward-looking statement is made.
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Altius’s Current Tenements across NSW & QLD
NSW OVERVIEW:
▪ EL7423 Sofala
▪ EL7332 Karangi
▪ EL7046 Huntingfield
▪ El7195 Bullamalito
▪ EL7159 Beehive
▪ EL7036 Gunners
QLD OVERVIEW:
▪ Exploration Program
▪ Mill Circuit
▪ Environment
▪ Current and Future Work
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Highlights – Past Year
NSW QLD
• Air-borne geophysics data acquisition completed
on all NSW tenements and interpretation
commenced.
• Technical team of geologists and field staff
employed.
• Air-core drilling program completed at
Huntingfield.
• Exploration strategy developed for Sofala.
• Commenced the development of the exploration
strategy for Karangi.
• Development of a regional exploration and mining
strategy.
• Six high-grade gold niche ore types identified,
average grade 30g/t Au.
• An audit of the mill and crushing circuit was
completed in preparation for mining.
• Additional assessment continued on the EPM to
locate additional mill feed within trucking distance of
existing infrastructure.
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EL7423 Sofala
• Re-interpreted RGC database
• Three conceptual ore shells have been modeled
• Conducted a mapping and rock chip sampling program of adits
• Developed a new exploration model – similar in style to Bendigo
• Additional geophysical targets have been identified for field follow up
image: large quartz vein in an adit at Sofala
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EL7332 Karangi
• Literature Review Completed
• 71 follow up targets identified from the geophysical interpretation plotted for field validation
image: view of Orara-Coramba area (including Karangi)
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EL7046 Huntingfield
• Air-core drilling program completed
• Assay results disappointing, best result was 13.3% Fe
• No additional follow up work warranted
image: The May 2012 drilling program at Huntingfield
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Other Work - NSW
Geophysical Interpretation Completed: • EL7332 Karangi – generated 71 field targets • EL7423 Sofala – 30 targets • EL7195 Bullamalito – 26 targets • EL7159 Beehive – 21 targets • EL7036 Gunners – 41 targets
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EXPLORATION
• Developed a regional exploration framework for the Forsayth Project which has been applied to Ropewalk and Flying Cow and used to increase the head grade of the mine.
• Based on the model have located an envelope of high grade ore in the Ropewalk Pit.
• Developed and designed an exploration model to add grade and tonnes to the Flying Cow deposit.
image: A specimen of high grade sulphide ore from Forsayth
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MILL CIRCUT
image: the ball mill in QLD
• Completed the test phase of the ball mill.
• Crusher circuit, gravity circuit and mill circuit audited and found to be functional – inspection carried out by AMC, the mill can be used to recover gravity gold. F
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ENVIRONMENT
image: a typical tailings dam
• Flora and Fauna survey completed by Ecosure on potential location for tailings storage facility.
• Northern Resources Consulting were commissioned in May 2012 to carry out a base line study in preparation for a Level 1 Environment Authority.
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Consultancies QLD and NSW
Cost Attribute Description Outcomes
QLD and NSW
Cost
Bill Laing Exploration
(Geological
Consultant)
• Increased the known head grade of the Ropewalk Pit from
2g/t Au to an average of 30g/t.
• Located the structure controlling high grade mineralisation.
• Increased the potential gold resource at Flying Cow.
• Developed the exploration model for Sofala & Karangi.
QLD Mining
Cost
AMC Mill Audit • Assessed the capability of the plant to process ore.
• Develop a plan to dispose of both oxide and sulphide
tailing.
• Focussed on commissioning the gravity circuit = least time,
effort and money to develop an immediate cash flow.
• Expansion of the site to accommodate both oxide and
sulphide circuts.
QLD Mining
Cost
AMC Geotechnical
Study
• Provides expert opinion on the stability of the ground
conditions at the Ropewalk Pit and Flying Cow mine sites.
• All rock bolting will need to be replaced (shaft full of water).
• The first few cuts into the Ropewalk shoot may need to be
open cut until the ground conditions improve.
QLD Mining
Cost
Ecosure
(Environmental
Consultants)
• Assess the impact of a tailings storage facility on flora and
fauna (part of environmental approval).
• Two locations proposed as adequate for tailings facility.
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Cost
Attribute
Description Outcomes
QLD Mining
Cost
Northern
Resource
Consulting
• Develops Environmental Management Plan to obtain Level
1 Environment Authority.
• Detailed environmental monitoring and management plan.
• Groundwater monitoring.
QLD Mining
Cost
Landline
Consulting
• Level 2 Environmental Authority application completed and
renewed.
NSW
Exploration
Cost
Thompson
Aviation Pty
Ltd
• Previous Altius management contracted Thomson Aviation to
acquire air-borne geophysical data.
• Data acquisition completed by late Dec 2011.
• Enables a targeted exploration program to be planned.
NSW
Exploration
Cost
Eureka
Consulting
Pty Ltd
• Commissioned to carry out 6 geophysical interpretations.
• Geophysical data has been reduced, processed and
integrated with other exploration material.
• All datasets loaded into GIS to allow a thorough
interpretation to be undertaken.
• Identifies exploration targets for follow up field work.
Consultancies QLD and NSW F
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Competent Person Statement The information in this report that relates to exploration results or mineral resources is based on information compiled by Steve Adamson who is a member of the Australian Institute of Geoscientists and a full-time employee of Altius Mining Limited. Steve Adamson has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a competent person in the terms of the ‘Australasian Code for Reporting of Exploration Results , Mineral Resources and Ore Reserves’ (JORC Code 2004 Edition). Steve Adamson consents to the inclusion of such information in this report in the form and context in which it appears.
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