Update on Dargues Gold Mine and future exploration plans Mining NSW - - PowerPoint PPT Presentation

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Update on Dargues Gold Mine and future exploration plans Mining NSW - - PowerPoint PPT Presentation

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Update on Dargues Gold Mine and future exploration plans Mining NSW Conference 27 August 2014 Unity Mining Limited Disclaimer This presentation has been prepared by Unity Mining The forward looking statements are inherently Limited (Company).

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Update on Dargues Gold Mine and future exploration plans Mining NSW Conference

27 August 2014 Unity Mining Limited

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Disclaimer

This presentation has been prepared by Unity Mining Limited (“Company”). The material contained in this presentation has been prepared for information purposes only, and is not an offer, invitation or recommendation for subscription or purchase of securities in the Company. This presentation may contain certain forward‐looking statements regarding (i) estimated resources and reserves, (ii) planned production and operating costs profiles, (iii) planned capital requirements and (iv) plans, strategies and corporate objectives. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Unity Mining Limited. The forward looking statements are inherently uncertain and may therefore differ materially from results ultimately achieved. External and other factors may impact the Company and affect the forward‐ looking statements in this release since its

  • preparation. Subject to applicable law and stock

exchange listing rules, Unity Mining does not intend to publicly update any of the forward‐looking statements or any assumptions on which any such forward‐looking statement is made. The Company estimates its Mineral Resources and Ore Reserves in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 Edition (“JORC Code”), which governs such disclosures by companies listed on the Australian Securities Exchange.

Unity Mining Limited 2

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Outline

  • Dargues Gold Mine update
  • Majors Creek Project Exploration

– Dargues Reef – Near Mine Exploration – Regional Exploration

  • Booths Reward
  • Conclusion

Unity Mining Limited 3

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Dargues Gold Mine Update

Unity Mining Limited 4

  • Located approx. 60km SE of Canberra
  • Planned underground mine to produce approximately

50,000oz gold pa. over an initial 5 year mine life

  • Estimated cost to complete of $70M*, excl. targeted savings

from “Project 30” initiatives of $8.9M

  • Estimated cash operating cost of $700/oz**
  • Completion of engineering and optimisation studies currently

underway

  • Resources: 1.6Mt at 6.3g/t for 327 koz gold
  • Reserves: 1.4Mt at 5.2g/t for 233 koz gold
  • Deposit remains open at depth
  • Preliminary earthworks complete, on care & maintenance
  • *Assumes gold concentrate processing at Kangaroo Flat processing plant
  • ** Net of state royalties and silver credits
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Unity Mining Limited 5

  • Overview
  • Dargues Gold Mine
  • Majors Creek Project
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Dargues Exploration Upside

Unity Mining Limited 6

  • Recent drilling of the Dargues Main Lode

encountered high grade mineralisation below the reserve boundary

  • 13 m at 7.4 g/t, incl. 4 m at 12.8 g/t gold
  • Potential down dip on Main Lode and

Plums to increase resource Dargues Resource Outlines

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Dargues Geophysics

  • IP
  • Never comfortable with

results of 2007 pole‐dipole IP

  • Reprocessed 1987 dipole‐

dipole

  • Dargues shows up as a

strong chargeability anomaly

  • Which is what you would

expect from disseminated sulphide mineralisation

Unity Mining Limited 7

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Dargues Geophysics

  • Magnetics
  • Re processing and 3D

modelling shows very deep mag low associated with mineralisation

Unity Mining Limited 8

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Unity Mining Limited 9

  • Overview
  • Dargues Gold Mine
  • Majors Creek Project
  • Near Mine Exploration
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Targets

  • Targets are either
  • IP chargeability

anomalies

  • deep magnetic lows
  • Dargues look alike

structures

  • Anomalous soil or rock

samples

Unity Mining Limited 10

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Geophysics

  • Completed Gradient Array IP to test targets to the south and west of Dargues

Unity Mining Limited 11

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Anomaly S1

  • Previously shallow

drilled based on soils & mag

  • 1m @ 1.95 g/t Au
  • 0.4% Cu, 0.6% Pb,

0.6% Zn, 1125ppm Sb, 36ppm Ag, 6% S (pyrite)

  • Hallmarks of Majors

Creek style mineralisation.

  • Drilling only tested

top

Unity Mining Limited 12

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Latest IP results for Cu Ridge Prospect

Unity Mining Limited 13

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Geophysics – Mag Targets

Unity Mining Limited 14

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Unity Mining Limited 15

  • Overview
  • Dargues Gold Mine
  • Majors Creek Project
  • Near Mine Exploration
  • Regional Exploration
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Regional Exploration Results

Unity Mining Limited 16

  • Recent soil sampling campaign
  • n regional prospects yielded

encouraging results.

  • Doubloon‐ multi element soil

geochemical anomaly, mag structures, alluvial Au

  • Jembaicumbene – soil sampling

testing source of alluvial Au

  • Euradux – Multi element soil

anomalies, E‐W mag structures, late stage Euradux granite

  • Scotchmans Gully‐ old workings,

reprocessed IP, shallow drilling

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Doubloon

  • Anomalous multi element

soil and rock samples

  • Gradient Array IP
  • Very strong complex

Chargeability anomaly

  • Testing source of Au in

alluvial workings

Unity Mining Limited 17

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Doubloon

Unity Mining Limited 18

High chargeability – Red Low resistivity‐ purple Interpreted structures from IP High chargeability – Red High resistivity‐ green Interpreted structures from IP

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Euradux

  • 10km Nth of Braidwood
  • Low magnetic, late

stage Euradux Granite

  • E‐W Structures
  • Napoleon prospect
  • Dykes
  • Soil sampling
  • Anomalous

Geochemistry

Unity Mining Limited 19

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Euradux

  • Napoleon

– 6.22g/t and 4.46g/t Au rock chips. – drill holes ‐ quartz veining. 1m at 0.62g/t gold, 0.9% Cu, elevated Ag, Mo, Pb, Zn, Sb, Bi

  • Elevated Cu, Bi, Mo, Sb, Ag, Zn in

soils around Euradux Granite

  • There is a lot happening around

Euradux

Unity Mining Limited 20

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Brushy Hill Cu‐Mo soil anomaly

  • Anomalous Cu, Mo
  • Elevated Ag, Pb, Zn, Sb

Unity Mining Limited 21

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Scotchmans Gully

  • 5km south of Dargues
  • Historic mining
  • Dipole‐dipole IP – reprocessed
  • Shallow drilling
  • Silica‐py alteration in drilling
  • Low grade Au up to 2g/t
  • Deep mag low
  • Dargues look alike structure

Unity Mining Limited 22

Mag IP Char

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Scotchmans Gully

Unity Mining Limited 23

  • Shallow drilling

– only touched top of IP anomaly

  • Only small part
  • f mag low

structure has been tested

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Unity Mining Limited 24

  • Overview
  • Dargues Gold Mine
  • Majors Creek Project
  • Near Mine Exploration
  • Regional Exploration
  • Booths Reward Project
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Booths Reward

  • Intensely deformed Ordovician

Jindalee Gp sediments & intrusives

  • Structurally controlled – cross cutting

stratigraphy

  • Au in Qtz‐ carb‐sulphide

veins/stringers and disseminated clots of Cpy & Py

  • Infill and extension soil sampling

highlights several orientations of anomalism

  • Analysis using Niton XRF
  • Drilling to test for extensions to

Booths Hill Au mineralisation

Unity Mining Limited 25

Soils‐ element anomalies and trends

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Booths Reward

Unity Mining Limited 26

Selected previous drill Au intercepts

Hole_Id depth_from dh_length Au BRDD013 135 2 13.46 BRDD013 195 5 8.71 BRDD013 321 0.5 27.6 BRRC001 54 1 12.4 BRRC001 86 3 11.47 BRRC002 35 1 6.61 BRRC003 35 6 6.01 BRRC003 64 1 8.96 BRRC003 122 2 7.13 BRRC003 169 1 8.18 BRRC003 172 3 20.23 BRRC004 69 3 9.11 BRRC004 92 1 10.8 BRRC005 142 1 87.7 BRRC006 17 1 11.4 BRRC006 20 1 7.1

Rotated view looking down plane of mineralisation Red trace – planned drillhole

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Conclusion

Unity Mining Limited 27

  • Dargues Gold Mine – high grade intersection in inferred resource increases

confidence for down plunge extension

  • Near Mine Exploration‐
  • Further understanding of geophysical character of Dargues
  • geophysical surveys identify several promising targets
  • Regional Exploration‐
  • re‐processing of old data shed new light
  • IP surveys identify new targets
  • Soil sampling identifies new style of mineralisation at Euradux
  • Booths Reward ‐ drilling to commence in October to test for extensions to Au mineralisation
  • So many targets!
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Thank you

Unity Mining Limited

Corporate Office Telephone : +61 (0)3 8622 2300 Facsimile : +61 (0)3 8622 2399 Email : info@unitymining.com.au Address Level 10, 350 Collins Street Melbourne Vic 3000 Australia