Tatogga Project, Golden Triangle, BC October 2019
INVESTOR PRESENTATION
GTT : TSX-V
INVESTOR PRESENTATION October 2019 Tatogga Project, Golden - - PowerPoint PPT Presentation
INVESTOR PRESENTATION October 2019 Tatogga Project, Golden Triangle, BC GTT : TSX-V Cautionary Statement Regarding Forward Looking Information Certain statements included in this presentation constitute forward-looking statements, including those
Tatogga Project, Golden Triangle, BC October 2019
INVESTOR PRESENTATION
GTT : TSX-V
Cautionary Statement Regarding Forward Looking Information
Certain statements included in this presentation constitute forward-looking statements, including those identified by the words “proposed”, “will”, anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar words and expressions to the extent they relate to GT Gold Corp. (the “Company”) or its management. The forward-looking statements are not historical facts and are based on current expectations and various estimates, factors and assumptions. They therefore involve known and unknown risks, uncertainties and other factors. Any forward-looking statements represent the Company’s estimates only as of the date of this presentation and should not be relied upon as representing the Company’s estimates as
which makes it prudent to change such plans or programs; and
result in changes in the Company’s expectations. Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-looking statements will materialize. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
QA/QC PROCEDURES
GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of RC chips and diamond drill core, the complete details of which can be viewed on the Company’s website at http://www.gtgoldcorp.ca/projects/tatogga/ Saddle Reverse Circulation and Diamond Drill Program Assay Results Widths reported in this presentation are drilled core lengths. True widths are estimated to be approximately 85- 90% of drilled lengths for minus 50 degree holes, and approximately 70% for minus 70 degree holes. All assays are performed by ALS Canada Ltd. (Minerals), with sample preparation carried out at the ALS facility in Terrace, BC, and assays at the North Vancouver laboratory. Assay values are uncut. For gold, fire assays are performed as per ALS protocol Au-AA26 (0.01-100.00 g/t Au) using 50 grams of sample with assays equal to or greater than 5 g/t Au calculated gravimetrically, and lower-grade samples measured by (AA) atomic absorption. All samples that return equal to or greater than 5 g/t Au from initial fire assaying are additionally sent for screen metallic analysis using the remainder of the pulp (~950 grams of sample). This step is taken to ensure that any coarse grained, nugget gold fraction that may have been missed in the fire assays has been captured. GT Gold Corp.’s Qualified Person as defined by National Instrument 43-101 is Charles James Greig, P.Geo., Vice President, Exploration. Mr. Greig has reviewed and approved the technical information in this presentation.
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GT Gold – New Copper-Gold Play with Infrastructure and Upside
Strong management team with technical expertise and a track record of value creation
SADDLE NORTH DISCOVERY
porphyry system, mineralized to near surface with grades increasing to depth
1.5 g/t AuEq over 777m including 1.5% CuEq / 2.0 g/t AuEq over 342m (Hole 109)*
EXPLORATION UPSIDE
High-grade Cu-Au porphyry with scale and open at depth
Near surface epithermal Au-Ag system open to east, west, south and at depth
large and prospective property
TIER 1 MINING JURISDICTION
Golden Triangle – a prolific mining region hosting a number of
deposits
proximity to operating mine – including paved highway and access to provincial power grid
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CANADA
Red Chris mine Paved Highway 37
Iskut
Tatogga Property
287 kV Line Port of Stewart GT Gold Saddle Camp
Tatogga: Tier 1 Jurisdiction with Access & Infrastructure
Large Scale Cu-Au Porphyry
8,200m of drilling
Discovery confirmed! Identified large- scale mineralization with high-grade core, varying in thickness from ~100m near surface to over 300m toward depth of ~1,100m from surface. .
Growth: Infill & Expansion
Phase 1: 10,000m of drilling
Results demonstrated continuity of high grades from surface and supported expansion of the higher-grade mineralization by approximately 100m along strike to the southeast at depth, and by approximately 200m along strike to the northwest near surface. System remains open at depth and along strike. .
Saddle North: Large Scale Cu-Au Porphyry Discovery
Blind Target Discovery
1,100m of drilling
Geophysical work in 2017 identified a coincident magnetic & IP anomaly ~1000m across. Large scale Cu-Au porphyry style mineralization uncovered with end of season drilling. 2019 Saddle North drill core - late sheeted pyrite veinlets cutting veins
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2019 NEXT STEPS: Phase 2 Further exploration & definition +15,000m = 25,000m total in 2019
2019
Beginning consultation to progress Saddle North through resource estimation and economic evaluation
2017
2018
Tested core of mineralized porphyry intrusive system Demonstrated continuity in higher grade southerly- plunging core from surface to highest-grade parts at depth 100% of holes drilled intersected Cu-Au porphyry- style mineralization System remains open in most directions, with highly prospective targets at depth, to the west, and to the SE
Saddle North 2019 Phase 1 Summary
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TTD10 108
0.43 g/t Au and 0.32 % Cu
3.8 m
TTD09 093
0.72 g/t Au and 0.40 % Cu
TTD09 090
0.25 g/t Au and 0.26 % Cu
TTD08 085
0.54 g/t Au and 0.35 % Cu
3.54 54 m
TTD09 098
1.08 g/t Au and 0.54 % Cu
2.99 99 m
TTD10 109
0.84 g/t Au and 0.44 % Cu
6.58 58 m
2018 18 resu sults 2019 19 resu sults TTD125 0.37 g/t Au and 0.31 % Cu over 396.50 metres
including
257.00 metres at 0.42 g/t Au and 0.39% Cu TTD127 0.20 g/t Au and 0.21 % Cu over 586.26 metres
including
236.00 metres at 0.28 g/t Au and 0.30% Cu TTD126 4.05 g/t Au and 0.30 % Cu over 51.00 metres
including
50.50 g/t Au over 2 metres and 39.8 g/t Au
TTD121 0.43 g/t Au and 0.22 % Cu over 964.14 metres
including
229.79 metres at 0.97 g/t Au and 0.42 % Cu TTD126 0.57 g/t Au and 0.26 % Cu over 1206.00 metres
including
324.00 metres at 0.94 g/t Au and 0.51 % Cu TTD122 0.33 g/t Au and 0.23 % Cu over 234.00 metres and 0.30 g/t Au and 0.24 % Cu over 129.00 metres TTD093
0.72 g/t Au and 0.40 % Cu
TTD098
1.08 g/t Au and 0.54 % Cu
TTD109
0.84 g/t Au and 0.44 % Cu
2018 results 2019 results TTD112 0.70 g/t Au and 0.44 % Cu over 684.90 metres
including
355.10 metres at 1.03 g/t Au and 0.60 % Cu
7
Cross-section 5800 Cross-section 5570
Saddle North drilling across high-grade core
0.27 g/t Au and 0.24 % Cu over 280.63 metres (198.37-479.00 m) 0.28 g/t Au and 0.30 % Cu over 236.00 metres (442.00-678.00 m) 4.05 g/t Au and 0.30 % Cu over 51.00 metres (410.00-461.00 m) 0.57 g/t Au and 0.26 % Cu over 1206.00 metres (18.00-1224.00 m) 0.91 g/t Au and 0.49 % Cu over 324.00 metres (18.00-1224.00 m) 0.97 g/t Au and 0.42 % Cu over 230.00 metres (734.50-964.30 m) 0.28 g/t Au and 0.25 % Cu over 233.08 metres (99.00-332.08 m)
Note: TTD084 is ~160 metres off-section from TTD121 at the fault intercept
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Saddle North: 3D Interpretation of Mineralization
situated in broad, gently sloping valley
+700m along strike, 600-700m thickness and +1500m down-dip (1200m from surface)
~1400-1500m down-dip, 400m along strike and thickness of ~250-300m
and along strike in both directions and at depth Gently sloping valley
Saddle North Anomaly ~3km
+0 +1000 +0 +1000
NW SE
IP chargeability
Saddle North – Porphyry Potential
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Porphyry District Scale Comparisons
Saddle South – Epithermal Au-Ag System
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mineralization at Imperial Metals’ Red Chris project inspired regional exploration
by first ever Saddle South drilling in 2017
An extensive near-surface zone of high grade Au-Ag epithermal mineralization spanning ~1000m X 150m X 700m High-grade zones locally show good continuity across sections both near surface and at depth Locally extensive surface expression of mineralization
strike and at depth
Saddle Zone Plan Map
IP chargeability basemap Residual Magnetic Intensity (RMI) magnetic contours
1000 metres
Saddle North
Saddle North (West) Eastern Extension Discovery Zone Eastern Zones
mV/V mV/V Residual Magnetic Intensity (contours) 500 nTTTD079 9.55 g/t Au
TTD007 51.53 g/t Au and 117.38 g/t Ag
TTD058 31.79 g/t Au and 1141.10 g/t Ag
Saddle South
Additional Opportunities: Quash Pass Target
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Quash Pass Red Chris mine Saddle Zone
completion at Quash-Pass target (approx. 7-8 km SW of Saddle)
Airborne Mag and Gamma) continues
Tatogga Property
Systematic Exploration: Towards a Geological Model & Project Pipeline
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Detailed Geophysics Geochemistry Drill Testing/Oriented Core Hyperspectral/ Alteration Mapping Mapping Structural Interpretation Geologic Model Assay Results
Tatogga Project Employee & Contractor Demographics
2019 Field Season (at Sept 20) including all field crews and temporary contractors: 2018 Field Season
81 36 9
29%
Tahltan Nation
126 Employees & Contractors
Other First Nations Non- First Nation Contracted Tahltan Nation:
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Community and Environment; Partnership and Respect
2018 Economic Contributions Agreements Communications Agreement $ 33,000 Emergency Support Fire Relief Fund (GT Gold) 25,000 Fire Rebuilding Effort 5,000 Hockey Tahltan Selects Hockey 3,000 Iskut Sawtooth Predators 18-22 Hockey 3,000 Iskut Trail Blazers 10-13 Hockey 2,000 Dease Lake Hockey Tourney 1,500 Health & Wellness Tene Mehodihi Trail & Medicinal Plant 7,000 Healthy Active Tahltans (HATS) 5,000 Tour de Telegraph Bike Ride 3,000 Music Iskut Sacred Headwaters Music Festival 4,000 Stikine Valley Gospel Music Festival 1,000 Events TNDC Dease Lake Christmas Party 1,000 Tahltan Youth Lunch at Roudup 1,500 Total Funds Contributed in 2018 ~$95,000
2017-2018 ACHEIVED & 2019 ONGOING:
Tahltan Heritage Resources Environmental Assessment Team
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Equity Structure & Analyst Coverage
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Capitalization and Balance Sheet (C$)
Share Price2 $0.96 Basic Shares Outstanding 116.1M Options Outstanding 11.5M Basic Market Capitalization $111.5M Cash3 ~$17.8M Total Debt
Analyst Coverage Firm Analyst GTT Target
PI Financial Chris Thomson $2.25 Red Cloud Klondike Strike Derek Macpherson N/A Average 12-month Target Price $2.25
Ross Beaty Management & Directors Newmont Goldcorp Institutional Retail & Other
9.9% 12.6% 47.0% 22.5% 8.0%
GT Gold closed a C$17.6M strategic investment by Newmont Goldcorp on May 29, 2019 4
Milestones Ahead: Towards a Geological Model & Project Pipeline
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Advancing Saddle North gold-rich copper porphyry discovery
First drill hole - 2017 Discovery made - 2018 Delineation drilling - 2019 Metallurgical studies ............................ ........ Geological model - 2020 Inferred resource Studies and economic analysis Definition drilling Exploration of new targets
Copper Outlook – Growing Demand for New Supply
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1. Source: Wood Mackenzie mining investment presentation at TD Mining Conference in January 2019. 2. Source: RBC Capital Markets report on copper, published May 7, 2018.
Mine production and demand for mine supply Mt (forecasts after 5% disruption allowance)1
Global copper supply declines with diminishing long-term production1,2
creating structural deficit
mined grades and increasing capital intensity Demand for copper is growing sustainably3
benefits
energy systems
primary-energy supply coming from renewable sources by 2050
New projects are required to meet future demand growing at ~1.5% p.a.
Projected 5Mt deficit in new copper mine supply by 2028 as existing production declines and demand continues to grow steadily2
Source: Macquarie Capital. Based on annual disclosure for selected issuers and their respective technical report filings. 1) Where cut-off grade is not disclosed as % CuEq but reported in NSR $/t or similar metrics, cut-off grade has been calculated based on respective grade, recovery, metal price, and exchange rate assumptions. 2) Cash operating costs as of 2017 annual results, except for Red Chris (since commercial production in July 2015) and Highland Valley (LOM disclosure in March 2013 Feasibility Study). Net smelter returns based on LT commodity price assumptions of US$2.90/lb Cu, US$11.00/lb Mo, US$1,250/oz Au, and US$18.00/oz Ag, and exclude any impact from royalties, transportation, and refining charges.
Mineral Reserve Cut-off Grade (% CuEq)(1) Cash Operating Costs vs. Net Smelter Return(2)
1.18% 0.54% 0.40% 0.33% 0.32% 0.29% 0.37% 0.13% 0.12% 0.10% 0.13% 0.15% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% New Afton (UG) Red Chris (OP) Mount Milligan (OP) Highland Valley (OP) Copper Mountain (OP) Gibraltar (OP) % CuEq Reserve Grade (% CuEq) Reserve Cut-Off Grade (% CuEq) $23.1 $17.8 $11.8 $8.8 $9.8 $6.6 $41.7 $7.6 $6.9 $9.2 $5.9 $8.2 $64.8 $25.4 $18.7 $18.0 $15.7 $14.8 $0.0 $20.0 $40.0 $60.0 $80.0 New Afton (UG) Red Chris (OP) Mount Milligan (OP) Highland Valley (OP) Copper Mountain (OP) Gibraltar (OP) US$/t milled Net Smelter Return Margin (US$/t milled) 2017 Cash Cost (US$/t milled)
Key Operating Metrics of Select Peers
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Saddle North: 3D Interpretation of Mineralization
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Saddle North Grades vs. Select Producers & Developers
are in line with resource grades of global development projects and producing
holes released up to September 2019 benchmark well against global projects and suggest potentially robust economics
Source: Macquarie Capital. Based on total resources as reported in selected issuers’ most recent technical disclosure, except for Ridgeway, which is based on 2017 resources plus actuals from 2002-2017. Note: Contained metal value shown in USD; based on LT commodity price assumptions of US$2.90/lb Cu and US$1,250/oz Au. Excludes the NSR impact of variable metallurgical recoveries and any impact from recoverable by-product metals (e.g. Ag, Mo, etc.).
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US$50/t US$75/t US$100/t
TTD098 133 m @ 1.27% CuEq & 1.92 g/t AuEq TTD108 117 m @ 1.07% CuEqCuEq & 1.63 g/t AuEq TTD093 363 m @ 1.17% CuEq & 1.81 g/t AuEq TTD109 343 m @ 1.53% CuEq & 2.08 g/t AuEq TTD102 53 m @ 1.20% CuEq & 1.81 g/t AuEq TTD111 55 m @ 0.76% CuEq & 1.03 g/t AuEq TTD113 195 m @ 0.94% CuEq & 1.28 g/t AuEq TTD116 78 m @ 1.07% CuEq & 1.46 g/t AuEq TTD112 500 m @ 1.23% CuEq & 1.67 g/t AuEq
Legend:
Metal value (US$/t)
Sources: SolGold Plc, Peer Review January 4, 2019 intra-day spot prices used to calculate CuEq and AuEq are: Cu: $2.57/lb, Au: $1,294.80/oz, Ag: $15.65/oz. All values are reported in USD and do not consider metal recoveries
Saddle North Hole 109 Results vs. Top Global Peer Holes
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Rank Operator Property Location Interval (m) Cu (%) Au (g/t) CuEq (%) CuEq*m 1 Anglo American Los Sulphatos Chile 717 3.6 3.6 2,581 2 Codelco Chilean Giants Chile n/a n/a n/a n/a 2,500 3 Kennecott Bingham Canyon Utah, USA n/a n/a n/a n/a 2,500 4 Newcrest Wafi-Golpu PNG 1,422 1.14 0.64 1.61 2,289 5 Newcrest Wafi-Golpu PNG 944 1.44 1.28 2.38 2,247 6 Imperial Metals Red Chris BC, Canada 1,024 1.01 1.26 1.94 1,983 7 Anglo Gold Ashanti Nuevo Chaquiri Colombia 810 1.65 0.78 2.22 1,801 8 Freeport McMoran Grasberg Indonesia 591 1.7 1.8 3.02 1,787 9 SolGold Plc Cascabel Ecuador 1,560 0.59 0.54 0.99 1,540 10 Ivanhoe Mines Oyu Tolgoi Mongolia 326 3.77 1.23 4.67 1,524 11 SolGold Plc Cascabel Ecuador 1,197 0.63 0.83 1.24 1,485 12 Exeter Resources Caspiche Chile 1,214 0.9 0.33 1.14 1,387 13 Metallica El Morro, La Fortuna Chile 780 0.84 1.24 1.75 1,366 14 SolGold Plc Cascabel Ecuador 1,358 0.61 0.53 1.00 1,358 15 SolGold Plc Cascabel Ecuador 936 0.75 0.95 1.45 1,356 16 SolGold Plc Cascabel Ecuador 1,030 0.59 0.9 1.25 1,289 17 Newcrest Cadia Ridgeway Australia 341 0.93 3.86 3.77 1,285 18 Ivanhoe Mines Oyu Tolgoi Mongolia 476 2.16 0.67 2.65 1,263 19 Metallica El Morro, La Fortuna Chile 758 0.93 0.99 1.66 1,257 20 Anglo American Los Sulphatos Chile 990 1.26 1.26 1,247 21 Ivanhoe Mines Hugo Dummet Mongolia 302 3.11 0.98 3.83 1,157 22 Ivanhoe Mines Oyu Tolgoi Mongolia 422 2.48 0.21 2.63 1,112 23 Imperial Metals Red Chris BC, Canada 1,135 0.5 0.59 0.93 1,060 24 SolGold Plc Cascabel Ecuador 1,402 0.48 0.34 0.73 1,023 25 Exeter Resources Caspiche Chile 1,058 0.7 0.35 0.96 1,013 26 Exeter Resources Caspiche Chile 793 0.96 0.4 1.25 994 27 Imperial Metals Red Chris BC, Canada 716 0.79 0.74 1.33 956 28 GT Gold Saddle North (TTD109) BC, Canada 1,150 0.36 0.62 0.82 938 29 SolGold Plc Cascabel Ecuador 954 0.6 0.52 0.98 937 30 Metallica El Morro, La Fortuna Chile 820 0.59 0.73 1.13 924
tuff; subordinate flows and volcanic conglomerate
altered in Poelzer footwall
grained crowded porphyritic to phaneritic intrusion with generally weak Cu-Au porphyry mineralization
to mafic intrusions, likely with several phases (simplified)
commonly obscures (hornblende) plagioclase- crowded porphyries
pseudobreccia
Saddle North
Lithologic Model of Saddle North
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porphyrytic intermediate intrusions cutting main Saddle North Intrusions
increasingly well-mineralized to depth (e.g., TTD093, TTD109)
conglomerate, sandstone; local tuff and flows
mineralized
hornblende-phyric mafic dykes, typically <3m thick
Lithologic Model of Saddle North
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Porphyry Alteration Model (Hyperspectral Data)
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Saddle South – 2017 & 2018 Drilling Highlights
Key Successes
extended along strike to >1km
broad widths demonstrate depth and bulk-tonnage potential
improved understanding of the
mineralized veins and vein zones
Drill Hole ID Year Drilled Au Grade (g/t) Ag Grade (g/t) Interval (m) Comments TTD002 2017 6.57
TTD007 2017 51.53
TTD010 2017 5.10
TTD014 2017 5.84
TTD019 2017 14.75
TTD022 2017 13.22
TTD031 2017 48.85
TTD038 2017 10.18
TTD040 2017 12.64
TTD045 2017 20.17
TTD046 2017 20.02
TTD056 2017 23.78
TTD058 2017 31.79 1141.10 3.01
TTD059 2017 12.12
TTD069 2018 32.65
TTD076 2018 33.40
TTD077 2018 6.70
TTD079 2018 9.55
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1. Semi Massive to Massive Sulphide Veins 2. “Thin Vein” Style 4. Carbonate-rich Veins 3. Vein Breccias
Saddle South – Styles of Mineralization
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Ashwath Mehra Executive Chairman
experience
and network of European investors Charles J. Greig VP Exploration and Director
the mining sector
to deposits in BC’s Golden Triangle Paul L. Kania Chief Financial Officer
with history of working with a number
Management and Board
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Paul Harbidge President, CEO and Director
in mining exploration and development
President of Exploration at Goldcorp Taj Singh Lead Independent Director
minerals sector
and CEO of Discovery Metals Corp Renaud Adams Director
and operator globally
and CEO of New Gold
acquisition by Alamos Gold for ~US$700M Charles Tarnoca Director
PH.D in economic geology
VP Corporate Development at Alamos Gold John L. Pallot Director
decades of experience across a broad array of industries
capital for junior mining issuers Dale Finn Director
experience in mining exploration
Executive Exploration at Newmont Goldcorp and is responsible for geologic functions in South America
Strong management team with technical expertise and a track record of value creation
PAUL HARBIDGE, PRESIDENT AND CEO
36 King Street East, Suite 400 Toronto, ON M5C 1E5 647-256-6754 www.gtgoldcorp.ca