Sherlock Minerals Company Brief August 2014 Email: - - PowerPoint PPT Presentation

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Sherlock Minerals Company Brief August 2014 Email: - - PowerPoint PPT Presentation

Sherlock Minerals Company Brief August 2014 Email: sherlock@sherlockminerals.com.au Disclaimer This presentation has been prepared by Sherlock Minerals Pty Ltd (the Company ). This presentation is being provided to a limited number of recipients


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Sherlock Minerals Company Brief

August 2014

Email: sherlock@sherlockminerals.com.au

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SLIDE 2

Disclaimer

Competent Persons Statement: The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Peter Reid, who is a Competent Person, and a Member of the Australian Institute of Geoscientists. Mr Reid is a Director of Sherlock Minerals Pty

  • Ltd. Mr Reid has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the

activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Reid consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. This presentation has been prepared by Sherlock Minerals Pty Ltd (the Company). This presentation is being provided to a limited number of recipients for the sole purpose of providing preliminary background information to enable recipients to understand the business activities of the

  • Company. It is not intended as an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities.

The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. The opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. This presentation does not constitute financial product advice. To the fullest extent permitted by law, the Company and its associates or any of its directors, agents, officers or employees do not make any representations or warranties, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility or liability for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This document has been prepared as a summary only, and does not contain all information about the Company’s assets and liabilities, financial position and prospects and the rights and liabilities attaching to the Company’s securities. This document should be read in conjunction with any

  • ther reports and information provided or released by the Company.

Some of the statements contained in this presentation are forward-looking statements. Forward looking statements include but are not limited to, statements concerning estimates of expected costs, statements relating to the advancement of the Company’s investments and other statements which are not historical facts. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward-looking statements include the potential that the Company’s projects may experience technical, geological, metallurgical and mechanical problems, changes in product prices and other risks not anticipated by the Company or disclosed in the Company’s published material.

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Sherlock Minerals

  • Mineral exploration company focussed on

discovering high value poly-metallic mineral deposits

  • Experienced management team with strong

technical and industry credentials: Peter Reid, Graham Ascough, Donald Stephens

  • Committed low cost operator to maximise

spending of funds on drilling and exploration

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SLIDE 4

TEAM

  • Senior mining executive and geophysicist with more than 24

years of exploration and management experience

  • Global experience in project generation and exploration, former

exploration manager for major Canadian mining house Falconbridge.

  • Recently retired MD of Mithril Resources.
  • Director and Chairman of four ASX listed mining companies

Graham Ascough Chairman

BSc, MAUSIMM, PGeo

  • Exploration geologist with 21 years of exploration and

management experience.

  • Involved with Prominent Hill Cu-Au discovery and several

successful ASX mineral start up companies.

  • Founded ASX listed geothermal explorer, Petratherm.
  • Current Exploration Manager of Petratherm and an executive

Director of ASX listed Lawson Gold

Peter Reid Managing Director BSc Hons, MAIG

  • Chartered Accountant and Corporate Advisor with more than 25

years of industry experience

  • Holds directorships and is company secretary with a number of

public listed and private companies

  • Provides corporate advice over a number of industries
  • Track record of successful start up of several ASX companies,

with strong capital raisings.

Donald Stephens Director & Company Secretary BAcc, FCA

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SLIDE 5

Assets

  • Exciting range of projects including well

advanced, drill-ready targets through to conceptual greenfield plays. All 100% owned!

3758km2 ground holding in South Australia (Granted) 394km2 ground holding in Tasmania (Granted)

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SLIDE 6
  • Polymetallic Copper, Gold,

Lead, Zinc and Silver VMS Deposits of the Mt Read Volcanic Belt

  • Gold – Henty
  • Nickel - Avebury
  • Tin – Renison Bell
  • Tenements cover 38km

strike length of the underexplored southern portion of the highly prospective Mt Read Volcanic Belt

  • The largest holding of Mt

Read Belt in Tasmania!

Western Tasmania – World Class Metal Province

28Mt @ 14.3% Zn, 4.3% Pb, 2.4 g/t Au 16Mt @ 12.6% Zn, 5.9% Pb, 2.2 g/t Au 311Mt @ 1.0% Cu, 0.3g/t Au 2.83 Mt @ 12.5g/t Au 12.0 Mt @ 1.11% Ni Mt Read Volcanic Belt 24.54 Mt @ 1.41% Sn

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SLIDE 7
  • Thomas Creek Copper Gold

Project

  • Henrietta Nickel Project
  • Hill 99 Copper Zinc Gold

Project

  • Greenfield Polymetallic

VMS, Gold and other Nickel Plays

  • Sherlock has reviewed

historical airborne EM data and has identified numerous targets exhibiting VMS and Ni-PGE type signatures

EM targets (red and blue dots)

Tasmania - Projects

Thomas Creek Henrietta Hill 99

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SLIDE 8

Thomas Creek Project

  • Large scale

geochemical and geophysical target

  • Potential for a World

Class Sized Deposit

  • Classic demagnetised

magnetic ring typical

  • f porphyry copper

deposits

  • Associated with major

rift / transfer fault intersection - regional dilational zone

RTP aeromagnetic image and tenement outline

Thomas Creek Porphyry Target

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SLIDE 9

Thomas Creek Copper-Gold Target

  • Copper anomaly overlies IP

target in centre of magnetic low consistent with the expected response from a porphyry system

Surface IP Anomaly Copper in soil Anomaly

(Cu range 200ppm – 7.0%; sporadic Au upto 3 g/t)

Magnetic Feature Magnetic Body IP anomalies

  • n sections

3D View (looking North)

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Historic Shallow Drilling at Thomas Creek

  • 8 shallow BQ sized holes completed in 1996

do not test the IP anomaly and appear to be drilled down dip. Significant core loss (clays – highly weathered).

  • Broad zones of low grade Cu intersected –

i.e. TCD2 - 58m @ 0.08% Cu from 40m, TCD5 - 15m @ 0.17% Cu from 32m

  • Intersect strongly altered porphyritic diorite

to andesite with extensive hematite stockwork vein system (after primary sulphide?). Alteration – Silica - K-spar, sericite, chlorite

  • Finely disseminated chalcopyrite observed

in fresher Kspar-silica altered crystalline rock samples.

  • Drilling to 60-90m vertical depth (if no

uplift)

  • May still be in leached Cu depleted

zone!

Typical alteration Chl-Ser + hematite stockwork veining

15m @ 0.17% Cu from 32m

  • Inc. 5m @ 0.21% Cu,0.12 g/t Au

76m @ 0.05% Cu from 45m

  • Inc. 5m @ 0.1% Cu from 74m
  • Inc. 9m @ 0.1% Cu from 108m

58m @ 0.08% Cu from 40m

  • Inc. 9m @ 0.13% from 50m

Inc 27m @ 0.1 from 71m

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SLIDE 11

Henrietta Nickel Project

GeoTEM Z component Channels 1-15 GeoTEM Z component Late time TMI (magnetics)

Intense late-time electromagnetic high RTP magnetic image with strong magnetic highs likely mapping prospective ultramafic rocks

1km

  • Reprocessing of historical airborne EM data identified new target

not recognised by previous explorers

  • Late channel, associated with magnetic high
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Henrietta Nickel Project

  • EM targets coincident with

mapped belt of ultramafic rocks

  • Reconnaissance field visit located

iron gossan which assayed 0.11% Ni & 52ppb Pt

  • EM conductor spans 1.4km of

unexplored strike length

  • Potential for Avebury style

deposit (12Mt @ 1.11% Ni) Geological map with priority 1 EM targets (red circles)

Ultramafic rocks

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SLIDE 13

Hill 99 Project

  • Copper, Zinc and Gold soil anomaly over

500m in length and open - 150-511ppm Cu and 150-684ppm Zn and up to 92 ppb Au. Panned concentrate stream sample returned 5.1 g/t Au.

  • 5 holes drilled, all returned multiple narrow

zones of base metal and gold mineralisation. Intercepts include 30cm @ 10.55% copper and 0.244% zinc

  • Intense host rock alteration comparable to

that seen around other Volcanic Hosted Massive Sulphide (VHMS) deposits of western Tasmania.

  • Recent Airborne EM Survey has identified

several late time untested conductivity targets close to the known mineralisation.

Copper sulphide mineralisation (chalcopyrite) from drill hole H99-05

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VMS targets - Padthaway

  • Cambrian rocks in South

Australia are similar in age, lithology and geochemistry to those in western Tasmania

  • Where these rocks outcrop

base metal VMS mineralisation is abundant.

  • They continue under shallow

cover to the southeast, where limited historical drilling indicates the main volcanic source rocks occur

  • Conductive cover has

previously been an impediment to EM techniques

  • New developments in EM

technology (eg B-field) will allow Sherlock to generate new targets in this terrain

Outcropping Cambrian rocks (purple) continue under cover in the Padthaway region (aeromagnetic data). Red dots indicate base-metal mineralisation. EL 5387

31.1 Mt @ 0.8% Cu, 0.2 g/t Au, 2 g/t Ag 1.1 Mt @ 4.9% Zn, 2.0% Pb, 0.1% Cu, 23 g/t Ag, 0.3 g/t Au

EL 5384 EL 5386 EL 5385

Sherlock Cu-Zn-Pb-Ag

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SLIDE 15

Scout roadside drilling by DMITRE (1994) highlighted the prospectivity of this region with the discovery of the Sherlock prospect.

MOO24 - 14m @ .62% Cu from 72m (inc. 2@ 0.93%) and 17m @ 0.28% Zn from 72m (inc. 2m @ 0.94%)

Pasminco 1995 – Limited Follow-up

SHR-07 - 8m @ 0.75% Cu, 0.22% Zn from 74m (inc. 4m Cu @ 1.3%) SHR-08 - 1m @ 6.1% Cu, 0.6% Zn from 101m 2m @ 1.67% Zn, 0.77% Pb and 24 g/t Ag from 91.5m

+ other anomalous Cu-Pb-Zn shows and alteration

To date no serious systematic follow up, no regional exploration around Sherlock, or along the Padthaway Belt

VMS targets - Padthaway

Chalcopyrite + Sphalerite, Sherlock Prospect

EL 5384

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SLIDE 16

Forward Program

  • Drill Test
  • Thomas Creek Cu-Au
  • Initially approx. 4 to 5 x 400m holes.
  • Henrietta Nickel Project
  • Initially approx. 6 x 200m holes
  • South Australia - Advance VMS targets with EM

surveys to drill ready status

  • Tasmania
  • Advance porphyry copper, VMS and

nickel targets to drill ready status

  • Budget $3 to $5 Million
  • Funded via RTO or IPO, may include a JV with a Major

for the Thomas Creek Project