The Alford West Copper The Alford West Copper Prospect Prospect 10 - - PowerPoint PPT Presentation

#1

10th SA Exploration and Mining Conference

Presented by

Chris Drown, Managing Director 10th SA Exploration and Mining Conference

Presented by

Chris Drown, Managing Director

The Alford West Copper Prospect The Alford West Copper Prospect

#2

The information in this presentation is published to inform you about Adelaide Resources Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. All reasonable effort has been made to provide accurate information, but we do not warrant or represent its accuracy and we reserve the right to make changes to it at any time without notice. To the extent permitted by law, Adelaide Resources Limited accepts no responsibility

• r liability for any losses or damages of any kind arising out of the use of any

information contained in this presentation. Recipients should make their own enquiries in relation to any investment decisions. The information in this presentation is published to inform you about Adelaide Resources Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. All reasonable effort has been made to provide accurate information, but we do not warrant or represent its accuracy and we reserve the right to make changes to it at any time without notice. To the extent permitted by law, Adelaide Resources Limited accepts no responsibility

• r liability for any losses or damages of any kind arising out of the use of any

information contained in this presentation. Recipients should make their own enquiries in relation to any investment decisions. The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Chris Drown, who is a Member of The Australasian Institute of Mining and Metallurgy and who consults to Adelaide Resources Limited on a full time basis. Mr Drown has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Drown consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears. The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Chris Drown, who is a Member of The Australasian Institute of Mining and Metallurgy and who consults to Adelaide Resources Limited on a full time basis. Mr Drown has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Drown consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

Disclaimer and Competent Person’s Statement Disclaimer and Competent Person’s Statement

#3

“To the Colony of South Australia, copper was like a huge flywheel, generating wealth and activity.” (Blainey – The

Rush That Never Ended)

“To the Colony of South Australia, copper was like a huge flywheel, generating wealth and activity.” (Blainey – The

Rush That Never Ended)

The Yorke Peninsula’s “Copper Triangle” The Yorke Peninsula’s “Copper Triangle”

1915 Richmans Enginehouse, Moonta

The Copper Triangle

#4

Adelaide Resources aims to turn the “Copper Triangle” into the “Copper Polygon”! Adelaide Resources aims to turn the “Copper Triangle” into the “Copper Polygon”!

#5

Olympic Copper Gold Province LEGEND Adelaide Resources Antofagasta Areva BHPB FMG Oz Minerals Rex Rio Tinto Sandfire Straits Uranium One Xstrata Other

200 kilometres

Olympic Copper-Gold Province – operating companies Olympic Copper-Gold Province – operating companies

Even Spencer Gulf is pegged!! Even Spencer Gulf is pegged!! All land in the OCGP where exploration is allowed is pegged. All land in the OCGP where exploration is allowed is pegged. Major companies and copper producers dominate. Major companies and copper producers dominate.

(non OCGP tenements not shown)

#6

OCGP – depth to prospective basement OCGP – depth to prospective basement

The Yorke Peninsula in general, and the Moonta Project in particular, has the shallowest cover anywhere along the entire Olympic Copper Gold Province. The Yorke Peninsula in general, and the Moonta Project in particular, has the shallowest cover anywhere along the entire Olympic Copper Gold Province.

Olympic Dam (330m) Challenger Prominent Hill (100m)

MOONTA PROJECT

(mostly < 10m)

Olympic Copper-Gold Province

(470m) Hillside (~30-70m) Copper/ deposit Gold

200 kilometres

Vulcan (900m) Punt Hill (~700m)

A B

Carrapateena

1000 800 600 400 200

Prominent Hill Vulcan Olympic Dam Carrapateena Punt Hill Spencer Gulf

MOONTA PROJECT

Hillside

Depth below surface (metres)

A B

Cover Prospective basement

{

Schematic section

#7

Moonta Project – modern exploration history timeline Moonta Project – modern exploration history timeline

Historical exploration at Moonta was dominated by mid caps and majors which needed to find very large resources. This presents Adelaide Resources with a valuable historical database and a scale opportunity. The opportunity is significantly enhanced by improved copper prices since the mid 2000’s. Historical exploration at Moonta was dominated by mid caps and majors which needed to find very large resources. This presents Adelaide Resources with a valuable historical database and a scale opportunity. The opportunity is significantly enhanced by improved copper prices since the mid 2000’s.

Copper Price Copper Price

#8

“Buried Treasure” discovered in open file DMITRE report “Buried Treasure” discovered in open file DMITRE report

10m @ 2.3% Cu from 59m in old Alford hole AL11

#9

Moonta Project – location plan Moonta Project – location plan

#10

Alford West – magnetic image showing WMC/NBH 1970’s auger copper anomaly (>200ppm) and drillhole collars Alford West – magnetic image showing WMC/NBH 1970’s auger copper anomaly (>200ppm) and drillhole collars

Area of 2013 drilling Area of 2013 drilling

#11

Section 753,570mE Section 753,570mE

Alford West Prospect – 2013 drilling summary Alford West Prospect – 2013 drilling summary

Section 753,015mE Section 753,015mE Section 753,730mE Section 753,730mE Section 753,785mE Section 753,785mE

#12

Alford West Prospect – Section 753,015 mE Alford West Prospect – Section 753,015 mE

5m @ 0.37% Cu, 0.01g/t Au 6m @ 0.31% Cu, 0.20g/t Au 7m @ 0.36% Cu 8m @ 0.81% Cu, 0.03g/t Au 9m @ 0.58% Cu, 0.08g/t Au 6m @ 0.77% Cu 11.6m @ 0.42% Cu 10.1m @ 0.37% Cu 11m @ 0.57% Cu, 0.10g/t Au 7m @ 0.38% Cu, 0.03g/t Au 8m @ 1.03% Cu 12m @ 0.41% Cu, 1.44g/t Au 11m @ 1.11% Cu, 0.03g/t Au 50m @ 0.44% Cu, 0.05g/t Au

12m @ 0.41% Cu, 1.44g/t Au 11m @ 1.11% Cu, 0.03g/t Au 50m @ 0.44% Cu, 0.05g/t Au

#13

Alford West Prospect – Section 753,730 mE Alford West Prospect – Section 753,730 mE

5m @ 0.92% Cu, 0.15g/t Au 4 @ 1.38% Cu, 0.44g/t Au 6m @ 0.39% Cu, 0.03g/t Au 3m @ 1.22% Cu, 0.08g/t Au 6m @ 0.86% Cu, 0.06g/t Au 20m @ 4.20% Cu, 0.27g/t Au 10m @ 4.23% Cu, 0.20g/t Au 18m @ 2.22% Cu, 0.17g/t Au 11m @ 2.33% Cu, 0.68g/t Au

11m @ 2.33% Cu, 0.68g/t Au 10m @ 4.23% Cu, 0.20g/t Au 18m @ 2.22% Cu, 0.17g/t Au 20m @ 4.20% Cu, 0.27g/t Au

#14

Alford West Prospect – Section 753,785 mE Alford West Prospect – Section 753,785 mE

19m @ 0.29% Cu, 0.05g/t Au 30m @ 0.41% Cu, 0.30g/t Au 24m @ 0.41% Cu, 0.16g/t Au 20m @ 1.76% Cu, 0.33g/t Au 14m @ 2.60% Cu, 0.70g/t Au 45m @ 1.56% Cu, 1.83g/t Au

20m @ 1.76% Cu, 0.33g/t Au 14m @ 2.60% Cu, 0.70g/t Au 45m @ 1.56% Cu, 1.83g/t Au

#15

Alford West – current 3-D model (ADN drilling only) Alford West – current 3-D model (ADN drilling only)

3-D model looking SE

#16

3-D model looking down

Alford West – current 3-D model (ADN drilling only) Alford West – current 3-D model (ADN drilling only)

1100 metres 340 metres

#17

1970’s shallow auger hits give confidence the deposit will grow! 1970’s shallow auger hits give confidence the deposit will grow!

9.75m (to EOH) @ 0.68% Cu 4.57m (to EOH) @ 1.64% Cu 6.1m (to EOH) @ 0.44% Cu 10.36m (to EOH) @ 0.54% Cu 1.83m (to EOH) @ 0.18% Cu 1.83m @ 1.40% Cu 5.49m (to EOH) @ 0.82% Cu Depths of annotated auger holes range from 8.32m to 24.99m.

#18

Geochemical behaviour of metals in the regolith Geochemical behaviour of metals in the regolith

#19

Geochemical behaviour of metals in the regolith Geochemical behaviour of metals in the regolith

#20

Geochemical behaviour of metals in the regolith Geochemical behaviour of metals in the regolith

#21

Other geochemical observations Other geochemical observations

#22

Other geochemical observations Other geochemical observations

#23

>10% Fe >5% Fe

Other geochemical observations Other geochemical observations

#24

Other geochemical observations Other geochemical observations

#25

Alford Copper Belt – interpreted basement geology Alford Copper Belt – interpreted basement geology

#26

Alford Copper Belt – copper anomalies Alford Copper Belt – copper anomalies

#27

Mt Dore/Merlin regional geology - ~700Mt of Cu/Au resources Mt Dore/Merlin regional geology - ~700Mt of Cu/Au resources

#28

Alford West – a Mt Dore/Merlin (QLD) analogue? Alford West – a Mt Dore/Merlin (QLD) analogue?

Mt Dore: 108 MT @ 0.55% Cu, 0.10g/t Au Merlin: 6.9 MT @ 1.38% Mo (Inova Resources website)

• Both are interpreted to be IOCG deposits.
• Host rock packages are very similar.
• Both are structurally controlled.
• Relation to likely genetically linked granite very similar.
• Main FeOx metasomatite displaced from mineralisation.
• Alteration phases reportedly very similar.
• Both have significant molybdenum.

#29

Alford West Summary Alford West Summary

• First discovered in 1970’s – rediscovered in 2013 by checking
• pen file DMITRE reports.
• Defined by a 3.5 kilometre long auger copper geochemical
• anomaly. ADN drilling has tested 1.1 kilometres so far, with

copper-gold mineralisation present on every drill traverse.

• Exceptional potential exists to define a valuable resource.
• Deposit geology is interpreted to be of IOCG style.
• West Alford analogous to Mt Dore/Merlin, and Alford Copper

Belt analogous to Starra Shear/Mt Dore Fault Zone in QLD.

#30

Providing shareholders with discovery opportunities! Providing shareholders with discovery opportunities!