Woomera Exploration Limited Exploring the highly prospective Gawler - - PowerPoint PPT Presentation

Woomera Exploration Limited

Exploring the highly prospective Gawler Craton and Musgrave Province in South Australia and extensive lithium tenement portfolio in Western Australia

November 2017

Important Notice

This Presentation The information in this presentation (Presentation) has been prepared by Woomera Exploration Ltd (Company). The mineral tenements of the Company as described in this Presentation (Tenements) are at various stages of exploration, and potential investors should understand that mineral exploration and development are high risk

• undertakings. There can be no assurance that exploration of the Tenements, or any other tenements that may be

acquired in the future, will result in the discovery of economic ore deposits. General Information Only This Presentation provides general information to assist you with your own evaluation of the Company’s exploration

• assets. This Presentation is not, and is not intended to be, advice on legal, financial, taxation or investment matters

nor is it intended to be financial product advice from the Company or any of its directors, employees, agents or advisers. We are not responsible for any errors in or omissions from the Presentation, whether arising out of its negligence or

• therwise. We make no representation or warranty, express or implied that the Presentation is accurate, reliable or

complete; or is sufficient or appropriate for your purposes or contains all of the information that a prospective investor may require. You should not rely on the information in this Presentation. We have no duty of care to you or your advisors for the Presentation or anything in it. We are not responsible to you or anyone else for any loss (however caused, including as a result of our negligence) you or anyone else may suffer or incur if you rely on the Presentation. No Recommendation This Presentation is not intended to be and is not a recommendation from either the Company or its directors, employees, agents or advisers regarding the Company.

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WEX Company Outline

Woomera Exploration Limited

Woomera Exploration Limited (WEX) is an unlisted Australian Exploration Company based in Adelaide South Australia. WEX expects to successfully list on the ASX by February 2018. WEX has an extensive tenement portfolio covering 9 tenements in the Gawler Craton and Musgrave Block of South Australia that are highly prospective for IOCGU deposits (iron-oxide- copper-gold-uranium), copper- nickel deposits (Nebo Babel type), precious metal deposits and rare earth mineral deposits. Much of WEX’s ground has historically fallen under the Woomera Prohibited Area – a huge area of South Australia quarantined for military purposes for over fifty years and only recently opened up for mineral exploration. The area and near surrounds host some of the World’s great mineral deposits. In addition WEX has an extensive lithium tenement portfolio consisting of eight granted tenements and two tenement applications over ground near Pilgangoora (129Mt hard rock spodumene resource), Mt Cattlin (9.9 Mt @ 1.1% Li2O and 149 ppm Ta2O5) and several prospective lithium brine prospects throughout Western Australia.

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Presentation Outline

Presentation Outline

• 1. Directors and Management

2. Key Assets 3. Carulinia Prospect 4. Nawa Domain IOCG target 5. Labryinth Prospect 6. Musgrave Block Prospectivity 7. Musgrave Block – Cavanagh Prospect 8. Musgrave Block – Area 4 Prospect 9. Musgrave Block – Area 7 Prospect

• 10. Musgrave Block - Additional Drill Ready Targets
• 11. WEX Western Australia Lithium Tenement Schedule
• 12. WEX Western Australia Lithium Targets – Pilgangoora
• 13. WEX Western Australian Lithium Targets – Mt Cattlin
• 14. WEX Western Australian Salt Lake Targets – Lakes Tay, Sharpe, Dundas, Cowan and Dumbleyung
• 15. WEX South Australian Tenement Schedule
• 16. WEX Company History

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Mr Neville Martin – Chairman

Neville is a former partner (now consultant) with law firm Minter Ellison and has over 40 years' experience in corporate law and mining oil and gas law. He is currently a director of both Sundance Energy Australia Ltd and Pawnee Energy Ltd (companies listed

• n the ASX). He is the former Chairman of Adelaide Energy Ltd and former director of ASX listed companies Stuart Petroleum and

Austin Exploration Ltd.

Mr David Lindh OAM – Director

David is a consultant in corporate and commercial matters, with over 40 years’ experience as both a lawyer and a company

• director. He is currently Chairman of ASX listed Nuncannaco Science Ltd. He is a former Chairman of ASX listed Centrex Metals Ltd

and was a non-executive director of ETSA Corporation, Electranet and ASX listed company Enterprise Energy Ltd. He is also a director of various private companies and is a consultant specialising in the energy and resources industry with law firm Minter Ellison.

Mr Donald Triggs – Director

Donald has 30 years' experience consulting to the resource, utilities, and information technology sectors. Clients have included CRA/Rio Tinto, Normandy, MIM, Xstrata, Optima Energy, Telstra, Santos, New Hampton Goldfields and Mineral Deposits Limited. He is the former General Manager of the ASX listed company Primary Resources Limited, and is currently director of Norsa Exploration Pty Ltd, and is managing exploration projects in the Musgrave Block and Gawler Craton.

Mr Gerard Anderson – Director

Gerard is a geologist with 42 years experience in exploration, mine and resource geology principally in iron ore, gold and base

• metals. Gerard’s senior management positions have included as Exploration Superintendent Boddington Gold Mine, Chief

Geologist Bronzewing Gold Mine, Chief Geologist Kalgoorlie Consolidated Gold Mines, General Manager Golden Grove Operations, General Manager Newmont Joint Ventures, Managing Director of Croesus, Centrex Metals Limited and Archer Exploration Limited. Gerard has also completed a post graduate degree in Business and a Masters in Mineral Economics.

Mr Jonathan Lindh – Company Secretary

Jonathan has over 10 years’ legal and corporate advisory experience practising predominantly in the energy and resources sector. He holds a Bachelor of Laws, a Bachelor of International Studies and post graduate qualifications in finance and corporate

• governance. Jon has extensive experience in the areas of corporate governance, mergers and acquisitions, joint ventures, farmin

arrangements, equity capital markets, foreign investment and native title /aboriginal heritage.

Experienced Directors and Management

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Key assets – 19 tenements covering 6,197 km2 in Gawler Craton, Musgrave Province, Pilbara and SE Yilgarn hosting several drill-ready targets

• GAWLER CRATON - world’s

largest Iron Oxide Copper Gold Uranium (IOCGU) deposit - Olympic Dam and several other major IOCGU discoveries including Carrapateena and Prominent Hill

• MUSGRAVE BLOCK –world

class Nickel-Copper discovery at Nebo-Babel

• PILBARA (Pilgangoora) 129Mt

Lithium in spodumene deposit

• f Pilbara Minerals
• SE Yilgarn – 9.9 Mt Mount

Cattlin Lithium Tantalum deposit plus numerous gold and base metal deposits.

South Australia – Gawler Craton and Musgrave Province

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Woomera Prohibited Area project locations

SA Government estimates that the economic potential for the WPA for the next ten years exceeds $35 billion of developments, including iron ore, copper, gold and uranium projects

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Gawler Craton WEX priority IOCG drill target - Carulinia

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Carulinia Project – coincident magnetic gravity anomalies

Magnetic RTP image (left) and gravity (right) showing previous drill hole locations

Coincident magnetic/gravity anomalies similar to those at Olympic Dam, Carrapateena and Prominent Hill

• 2002 core was interpreted as being Peak & Dennison basement from 319 m and

Gawler Craton basement with banded quartz/feldspar/chlorite/haematite gneiss and pegmatite from 569m

• 2007 core was interpreted as Peak & Dennison from 250 m

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Carulinia Project - magnetic and gravity models

• Magnetic (green) and

gravity (orange) bodies showing an accumulation of dense material on the perimeter of a magnetic core

• High density material

not tested by previous drill holes

• Future drilling to

target the high density shell ~1 Km

Model produced from 3D magnetic and gravity inversion process.

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North West Gawler Craton – Nawa Domain

• Extensive exploration area of

93,000 km²

• Previous exploration restricted to

the overlying cover sequences – looking for oil, gas, coal and sedimentary hosted mineral deposits

• Virtually untouched basement

< 1% outcropping and <60 basement intersecting diamond drill holes

• Contains sedimentary packages

aged 1790-1730 Ma possible equivalent to Fraser Range

• Hiltaba aged magmatism (Olympic

Dam) high potential for further IOCG type deposits

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Gawler Craton Nawa Domain – previous drilling

• 1974 -75 BP Minerals targeted

coal in the Arckaringa Basin

• 1979-82 Western Mining targeted

Officer Basin Observatory Hills beds for carbonate hosted Pb-Zn deposits

• 1980-82 Meekatharra Minerals

coal

• 1982-85 Comalco coal,evaporites
• 1993 DMITRE stratigraphic drilling
• 2008-10 Diatreme Resources –

mineral sands

• 2008- 12 Gawler-Officer-

Musgrave-Amadeus (GOMA) research project

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Gawler Craton Nawa Domain – Geology & Drilling

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• Coincident magnetic and gravity

anomalies tested by BHP in 1992 with drill hole CR9214 (264m)

• Intersected basement at 236m and

terminated in Mount Woods complex which hosts Prominent Hill and Cairn Hill IOCG deposits

• Graphitic, siliceous ultramafic rocks

from 236m to 240m

• Graphitic quartz magnetite unit from

240m to 254m

• Pyritic gneiss 254 to 262m (best assays

130ppm Cu, 26ppm Zn and 20ppm Pb

• Prospective for IOCG, BIF and gold

deposits.

Gawler Craton Nawa Domain – Coincident magnetic and gravity annomalies

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Magnetic Anomaly Gravity Anomaly Area circled in red highlights coincident magnetic and gravity anomalies

Gawler Craton Nawa Domain – 3D inversion model

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WEX 3D inversion model – green: magnetic susceptibility; orange: density contrast and BHP drill hole in yellow

Gawler Craton Labyrinth Project Copper Gold Rare Earths + Lithium-Boron-Potassium

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Labyrinth Project - Copper Gold Rare Earths

• CRAE drilling (1988) intersected a sequence
• f volcanics and mafic/ultramafic rocks at 69

metres - interpreted as Wiltabbie Volcanics

• Elevated copper (max 2230 ppm) and

neodymium (max 206 ppm)

• Magnetic and gravity data with advanced

modelling has relocated targets for follow up drilling VRMI Corrected Reprocessed Total Magnetic Intensity Reversely polarised magnetic anomaly

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Labyrinth predicted body

Predicted body – Magnetic (Susceptibility (0.06 SI units) Predicted body – Gravity

(density contrast 1.5)

Previous drill hole (303m))

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

Drilling program to test the predicted model

Labyrinth Lithium-Boron-Potassium

• Arid climate 
• Closed basin
• Tectonically driven

subsidence 

• Associated igneous or

geothermal activity 

• Suitable lithium source

rocks 

• One or more adequate

aquifers 

• Sufficient time to

concentrate a brine 



Geochemical sampling program to measure Li-B-K concentrations in brines and playa sediments

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Musgrave Province

Four tenements covering 3,072 km2 - prospective for nickel, copper, cobalt, gold, silver- lead-zinc, platinum group elements (PGE) and rare earths . Joint Venture agreement with OZ Minerals

• Numerous drill ready targets

identified from geophysics and government drilling

• Highly anomalous silver-

copper-zinc-antimony rock samples reported in GSSA 2014 field study

• Recent discoveries in western

Musgrave: Nebo-Babel (203Mt @ 0.41% Ni 0.42% Cu) and Wingellina (187 Mt @ 1% Ni )

• Musgrave Block – the least

studied of Australia’s Proterozoic Province

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Musgrave Project – airborne magnetic data

Good quality aeromagnetic data from surveys flown by GSSA in 1993 and CRAE in 1994 Total Magnetic Intensity (TMI) images from 1993 and 1994 airborne surveys

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Musgrave Project – New gravity data

• In 2014 the Geological Survey
• f SA completed a detailed

gravity survey almost entirely within the WEX project area

• Increased resolution gravity

data can now be investigated in conjunction with high quality aeromagnetic data to assist with target generation

• GSSA has also undertaken a

detailed geological mapping program that encompasses the WEX tenements

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Musgrave Project – Previous geochemical sampling

Geochemical sample locations including extremely high silver, copper, zinc and rare earth rock chips

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Musgrave Project – Targets

WEX has identified 12 exploration drill targets based on historic geophysical and geochemical data. Strong evidence of extensive Giles Complex ultramafic intrusives with excellent potential for Ni, Cr, Cu, Co, Au and PGE deposits. Seven targets to be drilled as part of the OZ Joint Venture. Vector Residual Magnetic Intensity (VRMI)

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Musgrave Project – VRMI treatment of magnetic data

• ver Nebo-Babel reveals a remarkably good fit

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Musgrave Project – priority drill target Cavanagh (Area#2)

As with much of the project area there is strong remanent magnetism at Cavanagh together with high assay values of Ni, Cr, Co, Cu and Pd recorded in a 28m RC drill hole

• The reverse dipole as observed in the TMI was investigated by CRAE around 1995
• Using 3D Inversion methods and VRMI filters WEX has modelled the magnetically

susceptible body that causes the dipole

TMI magnetic dipole Magnetic field after VRMI correction Evidence of remanence Modelled body with CRAE drill hole (~400m wide)

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Musgrave Project – priority drill target Area#7

TMI magnetic field Magnetic field after VRMI correction TMI 3D inversion model VRMI 3D Inversion model

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Musgrave Project – Area#7

Area#7 model with Government RC drill holes (susceptibility isopach 0.06 SI units)

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Musgrave Project – drill target Area#3

• First noted by RTZ in 1997 after flying four experimental EM lines
• RTZ recommended follow up but was abandoned at the time of RTZ/CRA merger
• Interpreted as layered ultramafic complex with potential for Ni, Cu and PGEs
• Magnetic 3D inversion modelling allowing for remanence predicts a susceptible body

at ~100m and several hundred metres in length

• Plan to follow up with more EM to delineate conductor and test with DDH

Airborne EM profile (RTZ Questem survey 1996)

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Musgrave Project – drill target Area#4

TMI VRMI image

• Extensive area of remanently magnetised

rocks

• Removal of remanent field reveals large region
• f high magnetic susceptibility
• Geochemistry in TIE RC89 indicative of

ultramafic intrusives – most likely Giles Complex

Drill hole assays showing anomalous Ni,Cu,Co Pd,Pt and Au

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Musgrave Project – Area#4

• Government drill hole TIE RC 89 was drilled to just 36m
• Intersected ultramafic intrusive rocks from 6m which were interpreted to be Giles

Complex

• Deeper intercepts were partly re-crystalised, highly magnetic with sulphides

consistent with Giles Complex

• Sulphides as chalcopyrite, pyrite, and possible pentlandite, occur within the

mylonitised (re-crystalised) rock

• Larger sulphide blebs up to 0.6 mm occur in less deformed areas and consist of

variable proportions of pyrite, pyrrhotite, chalcopyrite and pentlandite

• High grade metamorphic phase
• This remanent zone covers a large area of over 70 Sq. Kms. and extends further to

the West of the GSWA magnetic data that has been used to identify the zone. If sulphide accumulation has occurred it is likely to be around the edges of the ultramafic zone and this is consistent with the observations from TIE RC 89.

• A combination of airborne EM, surface geochemical sampling and RC drilling will

be required to identify the extent of mineralisation in this zone

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Musgrave Project – Areas# 1, 5 and 6

Three magnetic anomalies are readily observed in the regional aeromagnetic data. Sparse outcrop at Areas 5 and 6 suggest that the anomalies relate to magnetite-rich granites and granodiorite-diorites but they have not been thoroughly investigated. There is no outcrop at Area#1, however, 3D modelling indicates that a large magnetically susceptible body lies beneath this anomaly at a depth of around 150m.

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Musgrave Project – other targets Areas 8, 9, 10, 11 and 12

Area#8 – area of strong remanent magnetisation with 5 samples from 3 RC drill holes returning Cu in the range of 250ppm to 350ppm. Elevated gold assays were also noted. 3D modelling required to estimate the depth, extent and magnetic susceptibility of the remanent body. Area#9 - is magnetically non-descript but an isolated Cobalt assay of 600ppm was recorded in a Government RC drill hole at a depth of 10m. Further sampling is required to test for Cobalt enrichment in this area. Area#10 – area of displaying strong remanent magnetisation. Cu assay of 800ppm returned from a Government drill hole at a depth of 30m. 3D modelling required to estimate the depth, extent and magnetic susceptibility of the remanent body. Area#11 - anomalous hydrothermal related Ag-Cu-Zn-Rare Earth mineralisation has been observed within the granites of the Pitjantjatjara Supersuite in this area. A rock chip sample containing Ag (44.5ppm), Cu (200ppm) and Zn (910ppm) was collected during a Government survey in 2014. Surface geochemistry required. Area#12 - contains a trend over 2,000m containing significant Au & Ni and anomalous Cu, Pt and S. Surface geochemical required.

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Lithium assets Pilbara and SE Yilgarn

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• WEX has an agreement to acquire

100% of the issued capital in Volt Lithium Pty Ltd and Liquid Lithium Pty Ltd to secure 10 lithium tenements in WA

• Pilbara tenements in the

Pilgangoora province which has proven Lithium resources as spodumene in pegmatites

• Ravensthorpe tenements where the

Mt Cattlin spodumene mine is located

• Lakes Sharpe, Dundas, Cowan,

Dumbleyung and Peak Charles have been identified by Geoscience Australia for their high concentrations of Lithium in brine

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West Pilbara - Pilgangoora

• The Pilgangoora tenements

lie within the same granitoid complex that hosts the 129Mt spodumene deposit

• f Pilbara Minerals
• Northern tenements are on

a highly fractured NE trending structural corridor and monzogranites have locally abundant pegmatites

• Southern tenement is on

the edge of the east Pilbara granite greenstone terrane known for rare earth mineralised pegmatites

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South-East Yilgarn – Mount Cattlin spodumene project

• In the same volcanic

province that hosts the Mount Cattlin spodumene mine owned by Galaxy Lithium Australia Ltd

• 9.9 Mt @ 1.1% Li2O and 149

ppm Ta2O5

• Cross cutting faults and

shear zone similar to Mt Cattlin

• Not previously explored for

Lithium

• Also prospective for gold

and base metals

Mount Cattlin tenements with geology and neighbouring tenement holders

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South-East Yilgarn – Lakes Tay and Sharpe

• Arid climate 
• Closed basin
• Tectonically driven subsidence 
• Associated igneous or geothermal

activity 

• Suitable lithium source rocks 
• One or more adequate aquifers 
• Sufficient time to concentrate a

brine 

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South-East Yilgarn – Lakes Tay and Sharpe Lithium

• Lithium brine target
• Identified by Geoscience

Australia as having Li-B-K potential

• Lithium ~ 50x sea water
• Strong K-U-Th anomaly in

northern part of Lake Tay

• Previous explorers

targeted Cu-Ni-Au only

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South-East Yilgarn – Lake Dundas Lithium Brine project

• groundwater lithium levels over

90X those found in normal seawater

• assigned the highest possible

ranking for lithium prospectivity among Australian salt lakes by Geoscience Australia

• also prospective for gold and

potash.

Lake Dundas auger geochemical results Lithium (ppm)

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South-East Yilgarn – Lake Dundas Potassium - Gold

Lake Dundas Auger geochemical results

Gold assays (ppb) Potassium assays (ppm)

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South-East Yilgarn – Lake Cowan Lithium Brine Project

• Lake Cowan Lithium Brine Project (E15/1532)
• assigned the highest possible lithium prospectivity ranking by

Geoscience Australia, with groundwater lithium levels of over 90X those found in normal seawater

• Proximity to the Bald Hill tantalum mine owned by Alliance Mineral

Assets adds to the likelihood of lithium bearing source rocks in the area

• this project may be prospective for hard rock lithium, in addition to

lithium in brine

• Lake Cowan is also considered prospective for gold and potash.

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South-East Yilgarn – Lake Dumbleyung Lithium Brine Project

E 70/4870 geological setting showing abundance of igneous source rocks suitable for Li-K concentration

Woomera Exploration Limited Summary

 5,869 km2 under tenure within the highly prospective and tightly held Gawler Craton and Musgrave Province  544 km2 under tenure in proven Lithium provinces  Experienced Board and management  Drill ready IOCG exploration target within Gawler Craton  4,000 metre RC drilling program targeting Ni-Cu-Co within Musgrave Province to be drilled by WEX-OZ Joint Venture  Immediate targets close to road and rail  Digital datasets compiled  Strong long-term fundamentals for Ni, Cu, Co, Au and Platinum Group Elements  Exceptional demand for Lithium and Cobalt  Exploration programs ready to go

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Appendix 1 – WEX Tenement schedule

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Appendix 2 – Company history

• May 2011 - the Australian Government announced the relaxing of access conditions to

the Woomera Prohibited Area (WPA)

• May 2011 - Woomera Exploration registered as a private company and converted to a

Public Company in July 2012

• March 2012 - Norsa Exploration Pty Ltd registered
• Oct-Nov 2012 – Woomera Exploration granted 7 Exploration Licences covering 5,155

km2

• June 2013 - Norsa granted 7 Exploration Licences and 2 Exploration Licence Applications

covering 6,417 km2

• December 2014 – Woomera Exploration completed a takeover Norsa
• February 2015 - Completed technical review and surrendered ~50% of combined holding
• 16 March 2015 – Woomera Exploration granted a Resource Exploration Permit by

Department of Defence

• April 2017 – signed a binding agreement to Acquire 10 Lithium tenements in Western

Australia

• September 2017 signed Heads of Agreement with OZ Minerals to enter into a Joint

Venture whereby OZ can earn up to 75% in the Musgrave tenements for expenditure of $7.5m

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