DIRECT SHIPPING (DSO) IRON ORE Guinea, Africa GUINEA IRON ORE LIMITED giolimited.com November 2012 Presentation 130 Adelaide Street West, Suite 1010 T 416 361 2511 World class iron ore Toronto ON M5H 3P5 Canada F 416 364 5400 in Guinea, Africa
FORWARD LOOKING STATEMENT Certain information contained herein regarding Guinea Iron Ore Limited (“GIO”) a private Canadian corporation, including management’s assessment of future plans and operations, may constitute forward looking statements under applicable securities law and necessarily involve risks, including but not limited to risks associated with mining exploration, operating costs, production costs, volatility of share prices, currency fluctuations, imprecision of resource and reserve estimates, environmental risks and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in any forward-looking statements. Plans, intentions or expectations disclosed in any forward looking statements or information should not be read as guarantees of future results or events, and will not necessarily be accurate indications of whether or when or by which such results or events will be achieved. Except as required by law, GIO expressly disclaims any intention and undertakes no obligation to update any forward looking statements or information as conditions change. The historical resource estimates and grades reported in this presentation were taken from reports prepared by Kumba Iron Ore (subsidiary of Anglo American), and GIO is not permitted to report the results as NI 43 101 conformable. Therefore, GIO is required to make the following disclaimer: The resource results and grades reported by Kumba Iron Ore and subsequently referenced by GIO are to be treated as historical resources and grades and should not be relied upon. They have not been verified by GIO and are presented for general information purposes only. 2
GIO AT A GLANCE GIO owns 100% interests in four iron ore properties in Guinea, Africa. The Company is focused on exploring and developing a direct shipping (DSO) iron ore operation at its Gaoual property. Gaoual is believed to host a potential resource of 3 to 5 billion tonnes. Iron ore grades measure as high as 59%. 3
GIO IRON ORE PROPERTIES BOROKORO 4
GAOUAL PROPERTY – DSO IRON ORE - Potential to be a 3 to 5 billion tonne resource.* - Direct shipping iron ore – high grade potential of up to 59%. - 40 km strike length, 4 to 6 km width, up to 30 metres thick. - Within 100 km of modern, multi- user rail lines. Significant excess capacity (85%) exists on Government rail line. - Located approximately 200 km from a port. - 867 km 2 of licensed land. - Nearest large population centre is Gaoual (65 km southeast of the property). - Located in northwest Guinea between the villages of Foula Mori and Dombiadji. * Non NI 43-101 compliant resource and reported grades, and should not necessarily be relied upon. 5
GAOUAL GEOLOGY - High grade FeT mineralization at surface (59%). - An iron rich sedimentary unit dips 15 degrees to the south-west. - Top image: Displays 37 drill holes completed by Anglo American subsidiary, Kumba Iron Ore on the two iron outcrop areas (yellow border). - Bottom image: Geological map with permit boundaries. 6
GAOUAL GEOLOGY - Hematite mineralization has been found. - Deposit is at surface, extending to a depth of approximately 30 metres. An open-pit mining technique would be employed. - Photo: A slope of outcropping hematite. - “Dead Zones” are associated with iron mineralization at the Gaoual Property. 7
GAOUAL DRILL HOLE OR4-BH008 6m - FeT 57% average 8
GAOUAL DRILL HOLE OR4-BH009 6m - FeT 55% average 9
GAOUAL DRILL HOLE OR4-BH010 7.5m - FeT 51% average 10
GAOUAL DRILL HOLE OR4 CONTINUITY 6m - FeT 57% average 6m - FeT 55% average 7.5m - FeT 51% average 11
GAOUAL EXPLORATION PLAN & BUDGET YEAR 1 Site Preparation: Exploration Plan – Phase 1 -Camp construction -Drilling – water Objectives: -Project management 1 Drill up at Gaoul a Measured -Security and Indicated resource of 400 million tonnes; and Exploration: -Analysis 2 “Fence” drill an additional -Geology Inferred resource of a billion -Drill mobilization tonnes plus -Drilling – reverse circulation – 3,000 metres -Drilling – core – 250 metres - Twin drill six of the previous -Environmental owner’s drill holes for geological -XRF survey control and to validate historical -Safety drilling and assay data -Reporting - Infill and step out reverse YEAR 2 circulation drilling of the Orion 3 and Orion 4 areas – tighten drill -In-fill drilling -Environmental impact study spacing to 200 x 200 metres -Metallurgical analysis - Complete the XRF survey in -Permitting advance of the wide, step-out -Community liaison fence drilling -Preliminary economic assessment report - Amount of suggested drilling is YEAR 3 anticipated to increase once -Engineering and technical studies of rock properties results are obtained from XRF -Analysis of open pit design Analyser survey. This survey is -Analysis of mining techniques and equipment requirements expected to significantly -Road engineering, power engineering, environmental impact studies increase the size of the drill -Reclamation plan and design target area. -Permitting -Bankable feasibility study - Total drilling in phase 1 – 3,720 metres TOTAL $17,000,000 12
GAOUAL INFRASTRUCTURE - A multiuser rail line is approximately 100 km away and is accessible via the N.23 national highway. - Rail line constructed to a capacity of about 100 million tonnes per year but present use is only about 15% capacity. - The rail line ends at the port of Kamsar. 13
GAOUAL INFRASTRUCTURE - Because of the booming mining industry, Port Kamsar, located at the mouth of the Rio Nuñez and at the end of the rail line, has become an increasingly prominent port. - Deep water ocean port providing direct loading onto ships. - Port can handle very large vessels, allowing mining companies to ship out bulk quantities without the need to change carriers. In response to the growing Guinean mining industry, this vessel was designed specifically for the Port of Kamsar, and has a capacity of 82,100 MT. 14
BEYLA-N’ZÉRÉKORÉ PROPERTY & GEOLOGY - 523 km 2 of licensed land. - Iron ore at the Beyla-N’Zérékoré site is predominantly magnetite. - Grab samples measure up to 55% FeT. - Only 25 km South of Rio Tinto and BSGR/Vale’s deposits (up to 8 billion tonnes) at Simandou. - Vale paid BSGR (Simandou licence holder) US$2.5 billion for 51% interest in BSGR in April 2010. - Vale is investing approximately US$5 billion to start production in 2012. BEYLA-N’ZÉRÉKORÉ - Photo: Iron rich sediments PROPERTY exposed on the Beyla licence project. 15
FARANAH PROPERTY - 573 km 2 of licensed land. - Located in central Guinea south west of the city of Faranah. - Only 30 km south from Bellzone’s Kalia project (6.16 billion tonnes of magnetite averaging 21.8% FeT*) where the China Investment Fund (CIF) is contributing US$2.7 billion for a 286 km rail to Kalia. - Rail will end close to the Faranah property. * Non NI 43-101 compliant resource and reported grades, and should not necessarily be relied upon. 16
FARANAH GEOLOGY - Iron ore at the Faranah site is predominantly magnetite. - Grab samples measure up to 37% FeT. - Recent work on the Faranah property located magnetite bearing schist. - Top photo: A close up of a banded iron formation with visible hematite crystals. - Bottom photo: Preserved banded iron formation block in laterite. - 2012 exploration program includes an airborne magnetic survey and extensive bedrock sampling in areas of interest. 17
BOROKORO PROPERTY - 271 km 2 of licensed land. - Assay results show high grade iron ore in several areas – 40 to 55% Fe, 60 to 75% Fe203 - Main target in the southwest part with high iron concentration - Second target less homogenerous on the south / southeast part - Indication of other possible targets in the north part close to the granite dome - Previous information states a reserve of at least 400 million tonnes in the south part of the property 18
KEY CORPORATE EVENTS & TIMELINE EVENT TIMELINE Closing of financing Q1 2013 Execution of Phase 1 exploration program at Gaoual Q2 2013 Prepare Joint Ore Reserves Committee (JORC) Q3 2013 compliant property report AIM Listing Q4 2013 Commencement of Preliminary Economic Assessment Q4 2013 and scoping study 19
CAPITAL STRUCTURE SHARE STRUCTURE SHARES Shares Outstanding 83,092,403 Warrants (average exercise price of $0.24) 9,535,843 Fully Diluted 92,628,246 SIGNIFICANT SHAREHOLDERS OWNERSHIP Featherstone Industries Limited 21.7% Kodak Enterprises Limited 19.7% Direct Leverage Limited 13.2% Directors and Management 6.1% 20
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