Gold Fields Australia Site Visit: Darlot Gold Mine ANDREW BYWATER - - PowerPoint PPT Presentation
Gold Fields Australia Site Visit: Darlot Gold Mine ANDREW BYWATER - - PowerPoint PPT Presentation
Gold Fields Australia Site Visit: Darlot Gold Mine ANDREW BYWATER ANDREW BYWATER General Manager 14 th July 2014 Forward looking statements Certain statements in this document constitute forward looking statements within the meaning of
Forward looking statements
Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, the forward looking statements in this document include among others those relating to the Damang Exploration Target Statement; the Far p g g g g p g Southeast Exploration Target Statement; commodity prices; demand for gold and other metals and minerals; interest rate expectations; exploration and production costs; levels of expected production; Gold Fields’ growth pipeline; levels and expected benefits of current and planned capital expenditures; future reserve, resource and other mineralisation levels; and the extent of cost efficiencies and savings to be achieved. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa Ghana Australia Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly taxation and environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; the availability and cost of raw and finished materials; the cost of energy and water; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS and other occupational health risks experienced by Gold Fields’ employees. These forward looking statements speak only as of the date of this document. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Location and Background
- Located in Eastern Goldfields Province of the
Archaean aged Yilgarn Craton
Location and Background
g g
- 900km North east of Perth
- 350km North of Kalgoorlie
- Full mining and processing facilities
- All in central proximity
C tl i 2015 hil l i f
- Currently proving up 2015 ore sources while exploring for
the game changer
- ~10,000 ha of exploration tenements on prospective ground
- Extensive shallow RAB/RC drilling throughout area
- Only 95 from over 11,000 regional drill holes exceed 100m
in depth dep
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
History History
- Gold first discovered in the Lake Darlot region in 1894
- Over 500,000 ozs estimated alluvial production.
- Darlot pit resource delineated 1986-1988, mining commenced in 1988 and was completed in 1995
- 1996 the Centenary orebody was discovered, mining commenced 1998
- Between 1989 and 2013
2 5 Moz produced
- Between 1989 and 2013, ~2.5 Moz produced.
4
GFA Analyst Tour | Andrew Bywater | July 2014
Darlot Gold Mine
Replacement Of Reserves Replacement Of Reserves
2.50 M Ozs
Darlot Reserves and Production
2.00 1.50 0.50 1.00 0.00 1988-2002 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014* 2014 Reserve MY est Reserves Production Cumm Production 5
GFA Analyst Tour | Andrew Bywater | July 2014
Typical Regenerative Orogenic Geology
Darlot Gold Mine
Tenement Map Tenement Map
Gold Fields 100%
5km
Darlot South JV ‘A’ Darlot South JV ‘B’ Darlot South JV
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Experienced Professionals driving the Turnaround Program Experienced Professionals driving the Turnaround Program General Manager
- Andrew Bywater
Mining
- Paul Miskell
Mineral Resources - Pascal Blampain p Processing
- Tristan Freemantle
Maintenance
- Tim Gordon
Safety Lance Deighton Safety
- Lance Deighton
Human Resources - Billie Jo King Commercial
- Joanne Hall
Environmental
- Steve Petty
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Operations Management Team
- General Manager – Andrew Bywater
- BSc Hons Geology, Masters in Mineral Economics
Operations Management Team
- Extensive experience in management, operations, geology, technical and
project roles
- 20 years mining experience with 2.5 years at Darlot
y g p y
- Mining Manager – Paul Miskell
- Extensive experience in operations, management and projects
- Diploma of Business Management, Graduate Certificate of Risk Management,
Graduate Certificate of Occupational Health & Safety
- 30 years mining experience with 5 years at Darlot
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Operations Management Team
- Maintenance Manager – Tim Gordon
- Certificate III Electrical Mechanic,
Certificate III Instrumentation and Operations Management Team Processing Manager Tristan Freemantle Certificate III Instrumentation and Process Control
- Extensive experience in management,
technical project management and
- Processing Manager – Tristan Freemantle
- Masters in Business Administration
- Extensive experience in processing plant
technical, project management and engineering roles
- 14 years mining experience with 5
years at Darlot management, commissioning and
- ptimisation
- 12 years experience in mining with 3
years at Darlot
- Mineral Resources Manager – Pascal
Bl i years at Darlot Blampain
- BSc Geology
- Extensive experience in geology of
gold, base metals and mineral sands
- 7 months at Darlot
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
WHAT DID WE BUY?
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Facilities Layout Facilities Layout
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Darlot/Centeneray Underground Darlot/Centeneray Underground
Current Development Darlot
Mineral Resources:
- 1.61 Mt @ 5.24 g/t for 0.27 Moz
Mineral Reserves:
Metzke Hurst Fillbandit
- 1.0 Mt @ 5.07 g/t for 0.16 Moz
Trinidad Pedersen Thomson Bulk Stopes Boon North Boon West Border Walters Lords South
N
12
N
1000 500
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Infrastructure
- Camp - 400 rooms with recreational facilities
Infrastructure
- Airstrip – CASA certified, 1980m gravel airstrip refueling
facility, capacity for jets
- Water Sources - Bore Fields
- Power Station –LNG, with Diesel backup system
- Paste Plant
- Mine has 2 main declines
- Approval for additional tailings dam
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Infrastructure: Mining
- Underground mine with ore transported by haul trucks to the treatment plant via two declines
- Conventional and narrow longhole stoping
Infrastructure: Mining
- Conventional and narrow longhole stoping
- Paste filling is used in the majority of stopes
- The owner operator /maintained fleet comprises of mainly Sandvik drills, loaders and trucks
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Underground Fleet
- Drill fleet in good condition and good mix of
ages L t t d l S d ik 60t t k i t i l it Underground Fleet
- Latest model Sandvik 60t truck is a trial unit
- f latest Sandvik model. Now at 4,500 hours
- Extended under hire arrangement due to
success Machine Type Number Jumbos 2 (Sandvik DD421-60C) Longholes 2 (Sandvik DL420-15C and Solo 7) Remote Loaders 2 (Sandvik LH517 and Torro 1400) Manual Loaders 1 (2011 Sandvik LH621) Manual Loaders 1 (2011 Sandvik LH621) 50t Trucks 3 (2 Sandvik TH550, Torro 50) 60t Trucks 1 (Sandvik TH663)
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Why did we buy?
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Our Due Diligence View
- Can be cash breakeven or better
Our Due Diligence View
- Other opportunities that we saw included people, processing plant conditions, LOM extension
potential
- Potential synergies with other sites
- Resource and Reserve Growth – increase exploration spend to find the game changer
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Potential To Be A Gold Fields Franchise Asset
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
What have we done since the acquisition?
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Production and AIC Production and AIC
1 800 25 US$/oz Koz Barrick Gold Fields 1 400 1 600 20 1 000 1 200 15 600 800 10 200 400 5 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Production AISC AIC
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Production AISC AIC
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Operation Review – Top Issues and Opportunities
- Secure short-term viability of the current operation with 15% FCF Margin
- Self-fund exploration & right size operation
Operation Review Top Issues and Opportunities Key Issue Actions Timeline Strategy p g p
- Then with the time generated from above, look for a game-changer ore body
Cost & Production Lift grade - stope optimisation, blast quality, fleet & dilution
- review. Planning, milling, rightsize
2013/14 Operational Excellence Reserve Define and rank near mine targets, establish exploration Replacement g , p budget and timetable, execute drill program, increase reserves 2014 Growth Find Game Ch Regional exploration program, regional geology, structural & h i l i t t l ti 2014 /15 Growth Changer geophysical review, target selection 2014 /15 Growth High Performance Workforce Continue change process, Supervisor safety & leadership, problem solving, engagement, communication 2013/14 Secure the Future
- ce
Maintenance One Team approach, reliability across the site, RCA, quality, streamlining, accountability 2013/14 Operational Excellence G&A G&A review including labour 2013/14 Excellence
20
G&A G&A review including labour 2013/14 Excellence
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Strategic Focus Of Mine Management
- 2015 LOM
̵ 80koz pa target, exploration commenced, modelling and engineering design schedule in progress
Strategic Focus Of Mine Management
p g , p , g g g g p g ̵ Lower Lords South feasibility study and ventilation capacity commenced ̵ Self funding exploration programme F i d li d l ̵ Focus on margin delivery and solvency
- On-site Personnel Development
p ̵ Talent management ̵ Supervisor workshops and training sessions
- Safety
̵ Vital Behaviours program rollout ̵ Reducing TRIFR ̵ OHSAS18001 compliance by year end
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Key Metrics
KPI’s Unit Q4 2013 Q1 2014 Safety LTI’s 1
Key Metrics
y Ore mined - UG kt 153 141 Mined grade - UG g/t 4.46 4.96 Ore processed kt 158 144 Head grade g/t 4.41 5.32 Recovery % 93.4 95.2 Gold sold koz 19.7 22.9 Revenue US$m 25.0 29.6 Revenue US$m 25.0 29.6 Operating cost US$m 20.8 21.1 Operating Profit US$m 4.2 8.5 Capital expenditure US$m 1.6 1.8 AISC US$/oz 1,132 1,075
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
OHS & Sustainable Development
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
TRIFR
30
12 Month Moving Average Frequency Rates Per Million Manhours
(TRIFR = Lost Time Injury + Restricted Work Injury + Medically Treated Injury per Million Manhours Worked)
TRIFR
28.32 25 30 21.42 21.02 19.40 19.35 18.89 18.35 20 16.52 16.44 15 Target Gold Fields Management Control
3
5 10 g
1 3 1 1 2
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14
24
- No. of injuries
12 Month Moving Average Frequency Rate Per Million Manhours Worked Target
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Environment and Community
- Environmental Management System
ISO 14001 Certified since Nov 2013
Environment and Community
- Water Management - Darlot only requires 60% of its
805,000 kL annual groundwater licence allocation ̵ A Reverse Osmosis plant provides potable water ̵ Saline mine dewatering is recycled and re-used around site and underground g
- Darlot is situated on Melrose Pastoral Lease - 248,000
Ha held and managed by Darlot. An active cattle t ti station
- Community
̵ Darlot maintains relationships with Aboriginal p g groups regarding heritage matters and surveys ̵ Supports neighbouring pastoral stations with
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emergency services as required
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Human Resources Human Resources
- 224 employees (plus 63 contract)
- Fly in fly out arrangements are based on an 8/6 roster which is an attractive option to employees
- Fly in fly out arrangements are based on an 8/6 roster which is an attractive option to employees
- Flight options are optimised for cost efficiency and have reduced from daily to three flights per week
- The onsite camp facilities include a swimming pool, gymnasium, tennis/basketball court and a squash court
- Darlot prides itself on teamwork, a safe and productive work culture, and a talented pool of employees who are
working to secure our future Description 2013 2014 Employees in service 222 224 Employees in service 222 224 Contractors 66 63 TE+C 288 287 Tonnes mined/ TE+C 211 210 Oz Sold / TE+C 69 72
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Top 5 Priorities Top 5 Priorities
Priorities 1 Achieve operational plan (safety, production metrics, profit margin) c e e ope at o a p a (sa ety, p oduct o et cs, p o t a g ) 2 Increase reserve life – develop exploration pipeline 3 Safety – build high performance safety culture 4 Cost pressures – leverage off expanded Gold Fields stable to achieve cost savings for regional contracts 5 HR strategy – key to achieving plan is having the right people in the right job
27 Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Mining - Underground
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Major Mining Areas 2014 - LS775
- First development ore achieved in
October 2013 Major Mining Areas 2014 LS775
Legend: Yellow development completed Grey development planned
- First stoping ore achieved in
December 2013
- Significant upside potential
y p p Pink stopes mined and filled Remaining stopes planned
g p p
- Low grade and continuity risk
- Development grade upside
- Flat dipping resulting in trade off
- Flat dipping resulting in trade off
between dilution and development metres
- 65% of development completed
- 65% of development completed
- Mine area contains 120kt @ 5g/t
N
Note: Colours represent individual stopes and mining sequence.
29 Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Major Mining Areas 2014 - Grace Pillar
- Remnant pillar in older mining
area Major Mining Areas 2014 Grace Pillar area
- 90kt at 5.5g/t
- Producing between March
2014 d A t 2014 2014 and August 2014
- Extraction is as a single stope
- Firing sequence designed to
minimize dilution
Legend: Yellow development completed Pink stopes mined and filled Red stope planned
N
30
Red stope planned
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Future Mining Potential - Lords South Lower – Mining Study Future Mining Potential Lords South Lower Mining Study
Legend: Grey development completed Remaining development planned all stopes planned
Unclassified Inferred
- Mineral inventory of 387kt @ 6.9g/t for 86
Indicated
Koz contained.
- Current detailed mine plan of 183kt @
6.2g/t for 37 Koz mined.
N
- Significant upside potential from additional
flat lodes, vertical extension & infill drilling.
- Feasibility study near completion
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- Feasibility study near completion
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Processing
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Infrastructure Processing Treatment Facilities ̵ Plant constructed in 1988 (relocated from Mt Fisher) for first production in 1989 Infrastructure ̵ Crusher circuit upgraded in 2000 and secondary mill installed in 1997 ̵ 0.8Mpta 1600kW two stage ball milling circuit and Knelson concentrator gravity circuit ̵ Cyanide leach CIL train incorporating 11 tanks with residence time of 22 hours y p g ̵ 4.0 tonne carbon pressure Zadra elution circuit, horizontal carbon regeneration kiln, bullion production gold room ̵ Overall recovery ~ 93% Overall recovery 93% ̵ Four cell, 45 hectare dual cell tailings facility ̵ Next lift to commence on tailings facility Additional cell approved for construction as required ̵ Additional cell approved for construction as required
33 Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
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Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Processing Grade Processing Grade
7.00 g/t 5 00 6.00 4.00 5.00 3.00 1 00 2.00 0.00 1.00 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 35 Oct 13 Nov 13 Dec 13 Jan 14 Feb 14 Mar 14
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Processing Recovery Processing Recovery
96 % 95 96 94 95 93 94 93 93 92 92 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 36 Oct 13 Nov 13 Dec 13 Jan 14 Feb 14 Mar 14
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Processing Tonnes and US$/Tonne Processing Tonnes and US$/Tonne
60 70 000 US$/t tons 50 50 000 60 000 40 40 000 50 000 20 30 30 000 10 20 10 000 20 000 10 000 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 37 Oct 13 Nov 13 Dec 13 Jan 14 Feb 14 Mar 14
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Exploration
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Regional Setting Regional Setting
39 Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Mineralising Style Mineralising Style
- Orogenic Greenstone hosted hydrothermal mineralising
systems > 2 Moz systems systems, > 2 Moz systems
- Gold – pyrite – sericite +/- albite mineral assemblage /
quartz carbonate q
- Narrow vein to stockwork forms
- Shear and fault controlled mineralisation
- Strong structural trends as major fluid conduits
- Magnetite in dolerite preferred host
- Approx 15 - 20% gold occurs as free gold (gravity recovery)
- Poured gold purity @ 85%
- Ore ground to125 micron
40 Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Near Mine Targets - Key Underground Exploration Areas For LOM Strategy Near Mine Targets Key Underground Exploration Areas For LOM Strategy
Oval South Upper Oval Wicket Pedersen North Middle Walters South (Slide 42)
Darlot D it
Lower Pedersen SRM ULP
Deposit
Taylor North
Centenary Deposit
Lords Flat Structures Centenary Depth Analogue (Slides 44 & 45) LS775 Extension (Slide 43) Lords South Lower (Slide 45)
41
( )
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Potential Underground Extension to Existing Operations
Darlot Gold Mine
Current Project Status - Middle Walters South Project (Centenary Deposit) Current Project Status Middle Walters South Project (Centenary Deposit)
- Area drilled around current
STH margin of the Walters Orebody
Upper Magnetic Dolerite
y
- Drilling open up plunge to Sth
- Some high grade Au
intercepts on the Lords Fault
CUDH3041 CUDH2941 CUDH1050 CUDH3039A CUDH3040 CUDH2940
intercepts on the Lords Fault
- Economic zone largely hosted
by non-magnetic dolerite
- Significant intercepts include:
Dolerite
MCD0636 CUDH0935 CAX0017 CAX0015
Down Hole (m) Interval* Grade H l ID F ( ) ( /t)
- Significant intercepts include:
Lower Magnetic Dolerite
CUDH1136
Hole ID From (m) (g/t) CAX0015 215.3 1.0 20.56 CAX0017 202.1 2.9 5.24 CUDH0935 177.9 3.3 6.81 CUDH1050 136.7 2.6 9.30 CUDH1050 136.7 2.6 9.30 CUDH1136 147.5 5.3 4.27 CUDH2940 102.6 4.7 5.18 CUDH2941 152.6 5.5 4.45 CUDH3039A 193.0 1.7 8.58
Current Development Drill Intersection Below Resource Cut-off (>3.56 g/t)
100 50
N
42 CUDH3041 202.8 5.2 5.61 *True Width
Middle Walters South Drill Intersection Above Resource Cut-off (>3.56 g/t) Lithological Boundary Intersection Lineation Between Lords and First-Slip Faults
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Current Project Status - Lords South 775 –Extension Project (Centenary Deposit)
- Narrow vein (1-2m’s) high
grade mineralisation Current Project Status Lords South 775 Extension Project (Centenary Deposit) associated with a cross linking structure between the Lords and Eldorado Faults C
- Constrained to the north by
the Wicket Fault, open to the south Si ifi l b i l
- Significant late stage brittle
structure displacing main lode E i d i li d f l i
- Entrained mineralised felsic
material within the Eldorado Shear zone D illi f t i l i
- Drilling of extensional area in
progress
LS775 Lode Extension Target Plane Wicket Fault
N
43
LS775 Lode Eldorado Shear Zone Lords Fault Current Development
100 50
Current GC Model (>3.76g/t) Extension Target Plane Wicket Fault Agar Fault Langer Fault
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Current Project Status - Centenary Depth Analogue (CDA) Target
Darlot Gold Mine
- 9 DDH completed targeting the broad
project area
- 7 drill holes contain continuous
Current Project Status Centenary Depth Analogue (CDA) Target
- 7 drill holes contain continuous
mineralisation at ~ 1,000 m depth
- Mineralisation manifests as flat
stacked veining with associated stacked veining with associated haematite alteration and pyrite analogous to the upper Centenary bulk lodes bulk lodes
- Au zones closely related to regional
scale lamprophyre
- Logging and assay results indicate a
- Logging and assay results indicate a
large mineralised system
- Significant Intercepts:
(Including) From Interval Grade Interval Grade
N
Lamprophyre Lords Fault Target Plane Diamond Drill Trace
From Hole ID (m) (m) (g/t) (m) (g/t) CUDH3106 286 101 1.72 7.1 5.60 6.9 6.95 5.3 3.81
N
44
LG Bulk Mineralisation Bulk Mineralisation First-Slip Fault (Walters) Target Plane Oval Fault (Thomson) Target Plane
100 200
CUDH3062 328 5.1 5.44 CUDH3168A 418 9.5 2.15 CUDH3170 350 2.7 5.99 Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Beyond 2015 LOM - Lords South Lower & Centenary Depth Analogue (CDA)
Darlot Gold Mine
Beyond 2015 LOM Lords South Lower & Centenary Depth Analogue (CDA)
1400mRL 1300 RL 1300mRL 1200mRL Regional Lamprophyre 1100mRL 1000mRL 800mRL 900mRL 700mRL 600mRL CDA First-Slip Fault CDA Oval Fault 500mRL 400mRL CDA Bulk Mineralisation CDA Lords Fault p Lords South Lower Potential Resource Extension
45
300mRL 500 250
N
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Surface Exploration Drilling – 2014 Targets Defined
Darlot Gold Mine
Surface Exploration Drilling 2014 Targets Defined
Airstrip supergene zone
46 Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Current Project Status - West Limb Prospect (North Darlot)
Darlot Gold Mine
Current Project Status West Limb Prospect (North Darlot)
- 3 Diamond drill holes (1,419
m) successfully targeted the structure, as well as the st uctu e, as e as t e
- riginal intercept from the first
Centenary Depth Analogue drill hole.
- The structure will be tested
again by the new Centenary Depth Analogue drill hole which will pass through the structure at ~150 m.
- Logging and measurements
Interval Grade
indicate a steeply dipping, N/S striking structure.
Hole ID From To (m) (g/t) MCD0656 247.2 249.7 2.5 0.36 MCD0657 278.1 282.9 4.8 3.66
47
MCD0658 326.5 328.5 1.96 2.94 MCD0659 244.8 246.4 1.66 2.85
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Current Project Status - West Limb Oxide Prospect
Darlot Gold Mine
Current Project Status West Limb Oxide Prospect
Airstrip Supergene Zone
(refer locality plan page 46)
- Follow-up drilling
planned will test the structure closer to surface in the non- magnetic dolerite, and attempt to link the structure with the known structure with the known supergene mineralisation at Airstrip South (Slide 46) 46)
Lamprophyre Magnetic Dolerite
48
Potential West Limb Structure
50 100 200
Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Cornucopia Project – Drilling Results
- 2km SSE of Darlot Mine
- Similar Geology host units
12m @ 1 05g/t (from 12m)
Cornucopia Project Drilling Results
- >400m strike potential, open to
the North & South
- Oxide and Primary Au
12m @ 1.05g/t (from 12m) 5m @ 0.6g/t (from 45m) 4m @ 1.69g/t (from 60m) 2m @ 70.8g/t (from 74m)
(NSA)
3m @ 2.9g/t (from 156m) 2m @ 15.9g/t (historical RAB)
2km
G d l it 49
2km
Green = dolerite Yellow = felsic volcanics Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine
Conclusion Conclusion
- Aiming for A safe, profitable and sustainable operation
- Safety results are steadily improving
- New focus on quality tonnes mined to leverage grade and margin paying dividends
- AISC significantly reduced from 2013 via the Turnaround Program
- Current mine plan is being fast tracked and optimised for 2015/2016
- Lords South Lower is key to sustaining production rates, with upside oz potential.
- The area is situated in a highly prospective region for further gold discovery
- Self funding exploration with $7m spend in 2014, generated quality follow-up targets
- Looking for the Game-Changer to establish a 5 yr LOM
- The Processing Plant is in good condition and upgradable
50 Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014