African Barrick Gold 2010 Site Visit Exploration Overview 15 - - PowerPoint PPT Presentation

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African Barrick Gold 2010 Site Visit Exploration Overview 15 - - PowerPoint PPT Presentation

African Barrick Gold 2010 Site Visit Exploration Overview 15 September 2010 Disclaimer Important Notice This presentation has been provided to you for information purposes only. It does not constitute an offer, solicitation, invitation or


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African Barrick Gold

15 September 2010

2010 Site Visit Exploration Overview

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Disclaimer

Important Notice This presentation has been provided to you for information purposes only. It does not constitute an offer, solicitation, invitation or inducement to purchase, subscribe or

  • therwise acquire or to sell or otherwise dispose of any securities of African Barrick Gold plc ("ABG") or engage in any investment activity in connection with the capital of ABG

in any jurisdiction. The information or opinions contained in this presentation shall not form the basis of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment or investment decision whatsoever in connection with ABG. The information and opinions contained in this presentation are provided as of the date of this presentation and are subject to change without notice. ABG explicitly disclaims any responsibility, obligation or undertaking to update or revise any information contained in this presentation after its date, whether as a result of new information, future events or otherwise. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this presentation or on its completeness and no liability whatsoever is accepted for any loss howsoever arising from any use of this presentation or its contents. Certain information, statements, beliefs and opinions in this presentation are forward looking. Forward-looking statements are statements that are not historical facts. These statements include, without limitation, financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future production, operations, costs, products and services, and statements regarding future performance. Forward-looking statements are generally identified by the words "plans," "expect," "anticipates," "believes," "intends," "estimates" and other similar expressions. All forward-looking statements involve a number of risks, uncertainties and other factors. Although ABG’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of ABG, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, forward-looking information and statements contained in this presentation. Factors that could cause or contribute to differences between the actual results, performance and achievements of ABG include, but are not limited to, political, economic and business conditions, industry trends, competition, fluctuations in the spot and forward price of gold or certain other commodity prices, changes in regulation, currency fluctuations (including the US dollar, South African rand and Tanzanian shilling exchange rates), ABG’s ability to successfully integrate future acquisitions, to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves and to timely and successfully process its mineral reserves, changes in its business strategy, as well as risks and hazards associated with the business of mineral exploration, development, mining and production. Accordingly, investors should not place reliance on forward-looking statements contained in this presentation. Any forward- looking statements in this presentation speak only as of the date of this presentation and only reflect information available at the time of preparation. Subject to the requirements of the Disclosure and Transparency Rules and the Listing Rules or applicable law, ABG explicitly disclaims any obligation or undertaking publicly to update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise. No statements made in this presentation regarding expectations of future profits are profit forecasts or estimates, and no statements made in this presentation should be interpreted to mean that ABG’s profits or earnings per share for any future period will necessarily match or exceed the historical published profits or earnings per share of ABG

  • r any other level.

You are reminded that you have received this presentation subject to the disclaimer and important notices contained herein and on the basis that you are a person to whom this presentation may be lawfully made and delivered in accordance with the laws of the jurisdiction in which you are located. You may not and are not authorised to: (i) reproduce or publish this presentation; or (ii) distribute, disclose or pass on this presentation to any other person, in whole or in part, by any medium or in any form, whether electronically or otherwise. ANY FORWARDING, DISTRIBUTION OR REPRODUCTION OF THIS PRESENTATION IN WHOLE OR IN PART IS UNAUTHORISED. FAILURE TO COMPLY WITH THIS NOTICE MAY RESULT IN A VIOLATION OF APPLICABLE SECURITIES LAWS.

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  • 1. Exploration Properties & Pipeline

4

  • 2. Tulawaka

8

  • 3. Golden Ridge

12

  • 4. North Mara

16

  • 5. Bulyanhulu

21

  • 6. Nyanzaga

24

3

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4

Tanzania - Properties and Projects Overview

Non-Operating JV ABG Operating

Geita

Mwanza Shinyanga Musoma

Tulawaka

(0.12Moz)

Buly

(17.1Moz)

Buzwagi

(4.36Moz)

North Mara

(3.93Moz)

Jomu Golden Ridge Tusker

Golden Pride

Dett

100km

agwe Karagwe Ankolean Greenstones Granites
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Exploration and Project Development Pipeline

Mine site Satellite Lake Victoria Goldfields Africa wide

Medium to Long Term Short to Medium Term

Grassroots Program Target Delineation Advanced Exploration Resource and Scoping

Target Size

Opportunity

Africa-wide M&A >1 Moz >750 koz >500 koz >100 koz

Reserve Definition / Feasibility

Masabi Extensions Tulawaka West Dett Gokona U/G Buly Upper East Zone Tusker Gokona Gena Trend Golden Ridge Tulawaka Deeps Jomu Tulawaka East Extn Buly Reef 2 West Buzwagi Village Reef Kilimani Nyanzaga Regional Surubu Karagwe Ankolean Tagota Buly Reef 1 & 2 East Kahama Nyakafuru JV Komarera

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Project Pipeline

Project 2010 2011 2012 2013

Tulawaka Extensions Golden Ridge Gokona / Nyabigena UG Bulyanhulu Upper East Nyanzaga – Tusker / Kilimani Drilling & Resource Definition Scoping Studies Feasibility Studies Project Execution Production

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  • 1. Exploration Properties & Pipeline

4

  • 2. Tulawaka

8

  • 3. Golden Ridge

12

  • 4. North Mara

16

  • 5. Bulyanhulu

21

  • 6. Nyanzaga

24

7

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8

20km Tulawaka Buck Reef Imweru Mgusu GEITA DEPOSITS

Granite Unclassified intrusive Gabbro QFP Felsic volcanic Mafic volcanic, <2750 Mafic volcanic, >2750 Sediments

Kakindu

Tulawaka West

Tulawaka – Project Location

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Tulawaka Underground & Surface Extensions

  • Underground exploration and definition drilling to extend the East Zone underground resource

continues.

  • Drilling to date shows the mineralised quartz veins extend at least down to Level 10 at Zone 150.
  • Resource update from additional drilling planned for H2 2010.
  • Encouraging results support expectations that life of mine will be extended.
  • Ongoing surface exploration drilling also continues to test extensions to West Zone Main and

Mojamoja prospects – a number of promising drill intersections encountered.

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Tulawaka – Satellite Targets

  • Ongoing surface exploration drilling also

continues to test extensions Main West Zone and Mojamoja prospects.

  • A number of promising drill intersections

have been encountered from shallow depths including:

  • 5 m @ 23.7g/t Au – Mojamoja
  • 4 m @ 43.7g/t Au – Mojamoja
  • 4 m @ 77.8g/t Au – Main West Zone
  • 5 m @ 33.0g/t Au – Main West Zone
  • Additional exploration drilling is to be

completed on targets to the southeast of Tulawaka for further satellite deposits.

Main West Zone Mojamoja Tulawaka East

2k m

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  • 1. Exploration Properties & Pipeline

4

  • 2. Tulawaka

8

  • 3. Buzwagi - Golden Ridge

12

  • 4. North Mara

16

  • 5. Bulyanhulu

21

  • 6. Nyanzaga

24

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Buzwagi – Golden Ridge Satellite Opportunity

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20km Buzwagi

(4.36 Moz) Golden Ridge

Jomu Nyakafuru

Golden Pride

Granite Mafic volcanic

Masabi

55km

Kahama 100% Kahama JV Nyakafuru JV BEAL GPW JV

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Golden Ridge Feasibility Project

South North

Grade Thickness gm x metre

RC Infill 2010

  • Infill resource drilling and metallurgical drilling completed.
  • Geological model & geotechnical studies for feasibility study completed.
  • Advanced metallurgical test work and environmental and social impact assessment continue.
  • Announcement on updated resource expected before year end.
  • Feasibility study due for completion Q1 2011 and decision on project execution shortly after.
  • Additional potential identified to potentially expand the resource below and adjacent to current to

current pit designs.

  • Additional satellite deposit potential for Buzwagi identified at Jomu & other prospects.

1.2km of 4km strike

US$ 750 Pit

2010 Met Hole

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Buzwagi – Satellite Opportunity – Masabi

14

20km Buzwagi

(4.5 Moz) Golden Ridge

Jomu Nyakafuru 1.1Moz

Golden Pride

(3 Moz)

Granite Mafic volcanic

Masabi

Kahama 100% Kahama JV Nyakafuru JV BEAL GPW JV

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SLIDE 15
  • 1. Exploration Properties & Pipeline

4

  • 2. Tulawaka

8

  • 3. Golden Ridge

12

  • 4. North Mara

16

  • 5. Bulyanhulu

21

  • 6. Nyanzaga

24

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North Mara – Gokona-Nyabigena Underground Project

600m 800m 1000m 1200m 600m 800m 1000m 1200m 12400E 12600E 12800E 13000E 13200E

200m

Pit Stage 2 Pit Stage 3

17m @ 12.11g/t

West East

20 to 40 40 to 60 60 to 80 80 to 100 > 100 < 20 Grams X metres

13m @ 6.95g/t 14m @ 33.7g/t 23m @ 8.6g/t 13m @ 7.79g/t

Gokona East Zone Gokona West Zone Gokona Deeps Extension Target

600m 800m 1000m 1200m 600m 800m 1000m 1200m 12400E 12600E 12800E 13000E 13200E 600m 800m 1000m 1200m 600m 800m 1000m 1200m 12400E 12600E 12800E 13000E 13200E

200m 200m

Pit Stage 2 Pit Stage 3

17m @ 12.11g/t

West East

20 to 40 40 to 60 60 to 80 80 to 100 > 100 < 20 Grams X metres

13m @ 6.95g/t 14m @ 33.7g/t 23m @ 8.6g/t 13m @ 7.79g/t

Gokona East Zone Gokona West Zone Gokona Deeps Extension Target

  • Positive scoping study completed for the

Gokona-Nyabigena underground project.

  • Feasibility study to be initiated shortly and

scheduled for completion during H1 2011.

  • Targeting production by 2013 to increase

North Mara ounce profile and extend mine life.

  • Ongoing exploration drilling targeting

depth extensions to both Gokona West and Gokona Deeps lodes.

  • Targets are between 200m to 500m below

the planned final Stage 3 open pit.

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North Mara – Gokona Corridor Extensions

  • The Gokona-Nyabigena system

has current and past endowment

  • f >4Moz.
  • Very limited drilling has occurred
  • utside the immediate mine area.
  • Young volcanic cover overlies and

masks the favourable Archaean stratigraphy

  • RC scout drilling along the Gokona

corridor commenced in Sept 2010

  • 2011 drill programs to continue

testing the Gokona corridor over more than 8km of the current trend

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North Mara – Camp & Regional Targets

  • North Mara – 700 sq km of licences.
  • Geological characteristics of all the

major greenstone belts around the world.

  • Targets around Gokona-Nyabigena lie

beneath younger volcanic cover and require a good structural understanding and reconnaissance drill programs.

  • Programs testing along the Gokona-

Nyabigena Trend east and west of the mines commenced in mid-August 2010 and will continue in 2011.

  • Regional targets in the western areas of

the land package will be tested in in Q3- Q4 2010 and follow-up of success in 2011.

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  • 1. Exploration Properties & Pipeline

4

  • 2. Tulawaka

8

  • 3. Golden Ridge

12

  • 4. North Mara

16

  • 5. Bulyanhulu

21

  • 6. Nyanzaga

24

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Bulyanhulu – Near-mine Exploration Targets

Buly

(17.1Moz)

5km

Golden Horseshoe

Buly South JV

  • Bulyanhulu near-mine exploration is

targeting

  • Extensions to known shoots within

Reefs 1 and 2

  • Repetitions to high grade shoots

along strike, and

  • satellite opportunities.
  • In 2011 the Mine Geology team plan to

test extensions to:

  • Reef 1 & 2 Southeast
  • Reef 2 NW Extensions
  • East Limb Structural Target
  • Conceptual Targets throughout the camp

are being developed using 3D-modeling and structural targeting.

Fold Nose

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Bulyanhulu Upper East Zone Update

Upper East Zone

  • Completed review of planning

models and action plan formulated.

  • Dewatering and rehabilitation of

existing decline commenced – first 500m expected to be completed early Q4.

  • Scope of work for feasibility study

completed.

  • Feasibility study contract award

expected to be made shortly, completion targeted for early 2011.

  • Project execution decision

expected during H1 2011 and work starting shortly after. Existing 1.8km decline

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SLIDE 22
  • 1. Exploration Properties & Pipeline

4

  • 2. Tulawaka

8

  • 3. Golden Ridge

12

  • 4. North Mara

16

  • 5. Bulyanhulu

21

  • 6. Nyanzaga

24

22

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Golden Ridge Jomu Geita Buly

(17.1Moz)

GHS Kitongo Tusker Buck Reef 20km

Nyanzaga (Tusker Deposit) - Location

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Nyanzaga Project Update

  • Acquisition of Tusker Gold Limited completed in

May.

  • Step-out and infill drilling programs on Tusker and

Kilimani resource areas

  • Testing for satellite targets or further large

deposits to improve economics of project

  • Geotechnical and advanced metallurgical studies

scheduled for Q4 2010.

  • Targeting up to 50,000m of drilling in total during

H2 2010.

  • Scoping study on Tusker & Kilimani resources

scheduled for commencement Q2 2011 with feasibility study commencing by year-end 2011 dependent on results of scoping.

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Tusker & Kilimani – Resource Extensions

Tusker

Kilimani

500m

Tuffaceous Sediment Mudstone BIF Chert Gossan DDH RC RAB

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Tusker - Geological Cross Section

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Nyanzaga Project – Satellite Targets

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Tusker

VTEM Target

  • Exploration programs testing for satellite

targets and further large-scale opportunities have commenced across the Nyanzaga project

  • To date to several high priority targets have

been identified. Targets include:

  • EM and IP geophysical anomalies
  • Soil and rock geochemical anomalies
  • Geological & structural targets
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Contact details

28

Office address African Barrick Gold plc 5th Floor

  • No. 1 Cavendish Place

London W1G 0QF +44 (0)207 129 7150 Key contact details Greg Hawkins (Chief Executive Officer) Kevin Jennings (Chief Financial Officer) Andrew Wray (Head of Investor Relations and Corporate Development) - +44 (0)207 129 7155 – awray@africanbarrickgold.com Website – www.africanbarrickgold.com