for personal use only core : cxo2014/05/21 · may 2014 hot-spot core : cxo drilling australia’s...
TRANSCRIPT
May 2014
HOT-SPOTCore : CXO
DRILLING AUSTRALIA’S NEW EXPLORATION
Company Update Presentation May 2014
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• DrillingBlueys and Inkheart Silver Prospects,AlbartaNT
•Drill assay results expected over next few weeks from Blueys
•Copper exploration underway delivering exceptional results at Albarta, NT
•Strong geophysical IOCG drill targets near Olympic Dam, Roxby SA
• Thick and high grade uranium drill intersections at Fitton discovery, SA
•High grade lead/zinc breccia zone mapped over 1.5km at Yerelina, SA
•Set for impressive value growth
Core’s Projects
Albarta
FittonRoxby Downs South
Yerelina
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NORTHERN TERRITORY
Core (CXO)Albarta Project
Kidman (KDR)Home of Bullion Kentor (KGL)
Jervois Project
Alice Springs
DarwinAlbarta Project, NTAustralia’s new exploration hot-spot
Core has recently moved to 100% ownership* of 20 tenements covering over 2,000km2 comprising the AlbartaProject, NT
• Multiple occurrences of coppermineralisation indicates strongprospectivity
• Drilling Blueys and InkheartSilver Prospects
• Drill assays expected in weeks
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• 10% copper and 4,500g/t silver at Blueys Prospect
• 19,552ppb silver in soils at new Inkheart Prospect
•Up to 14% copper and 72g/t gold at Copper Royals
•Up to 34% copper at Virginia Prospect
•Multiple >1% copper at Greater Paradise Well
• Large scale copper nickel PGE target at Mordor Project
Strong ProspectivityF
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Exploration UnderwayOn new IOCG & copper exploration hot-spot
Results pending
Exploration underway during 2014
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Blueys Silver Project• Very high grades of 4.5kg/t (4,500g/t) silver and
10% copper at surface
• Peak value of 25,250ppb silver is well above 100ppb commonly regarded as anomalous
• Inkheart Prospect also characterised by extremely high silver in soils
•Core’s IP geophyics finds new drill targets below extremely anomalous silver in soil and high-grade rock chips
Spectacular silver soil anomaliesFor
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Blueys IP Drill Targets at Depth
Silver in soils
IP profile
200 200
400 400
600
3,000
2,000
1,000
3,000
2,000
1,000
600
0.0
6.7
13.3
20.0
26.7
33.3
40.0
LINE 2850 INKHEART & BLUEYS
RL metres
Ag (p
pb)
Line 2850N 50-100-200m Chargeability Model (msec) STD
474183 E 7401228 N
474470 E 7400819 N
Silver in soils
IP profile
200 200
400 400
600
3,000
2,000
1,000
3,000
2,000
1,000
600
0.0
6.7
13.3
20.0
26.7
33.3
40.0
LINE 2700 BLUEYS
RL metres
Ag (p
pb)
Line 2700N 50-100-200m Chargeability Model (msec) STD
474347 E 7400733 N
474634 E 7400323 N
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•Core’s Blueys Prospect has a footprint of 500m x 250m assaying over 1,000ppb Ag. Peak silver in soil value is 25,250ppb Ag.
•Core’s Inkheart Prospect has a footprint of 1,400m x 300m assaying over 1,000ppb Ag. Peak silver in soil value is 19,552ppb Ag.
• Investigator Resources Ltd (ASX: IVR) flagship Paris Prospect in SA has a footprint of 1,200m x 300m assaying over 100ppb Ag. with a centre of about 200m over 500ppb Ag. and a peak silver in soil value of 1,629ppb. These results led to a high grade silver discovery and a substantial increase in market cap for IVR.
Blueys ProjectF
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Copper Royals
Large copper mineral fieldUp to 14% copper and 72g/t gold at surface
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Phase 2 Drilling : Copper Targets•Copper Royals large
copper mineral field recognised in area of new 100% owned tenement
• 5km long copper soil anomaly
• 15 separate copper prospects within 5km x 5km area
•Geophysics not used in previous targeting
• IP results pending
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Virginia ProspectStratiform kilometre scale copper target grading
Results from IP survey pending
1%-5% Cu at surface
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• Stratiform copper horizon identified over 1km strike >1% Cu
•No previous geophysics or drilling
• IP survey completed
Virginia Prospect
Phase 2 Drilling : Copper Targets
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Greater Paradise Well4 separate copper prospects new discovery
3km x 3km
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•Multiple occurrences of copper
•Copper now identified at surface over a 3km x 3km
• Soils results pending
Greater Paradise Well
Phase 2 drilling Copper Targets
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IOCG ProspectivityAssessment from multiple independent sources
•Copper prospectivity of the region well documented by NTGS
•Other explorers have confirmed potential to the east and west of Core’s tenements
• 2012 assessment by Geoscience Australia confirmed high IOCG prospectivity
•Core’s internal assessment verifies IOCG potential
40 kilometres
Major roadMinor roadRailwayCore Prospect600 KM
Albarta Project Alice Springs
Core’s Albarta Project granted Exploration Licences (EL)
Alice Springs
Plenty Highway
Ad
elaide-D
arwin
railway
400,000 mE
400,000 mN
500,000 mE
CE Illogwa 14
Paradise Well (3.8% Cu) in rock chips
Copper King (14% Cu & 38g/t Au) in rock chips
Copper Queen (14% Cu & 72g/t Au) in rock chips
Daicos (19.37% U, 26.52% Nb)in rock chips
White Dam South (Cu-Zn)
Blueys Folley (7% REE) in rock chips
Mordor (Cu, Au, PGE)Star Creek (Au, Cu)
Amarata (Au)
East Amarata (25g/t Au) in rock chips
Star Creek East (Cu/Pb)
Pattersons (Au)
Yambla (U)
Blueys (10% Cu, 2,200g/t Ag) in rock chips
Virginia (34.0% Cu) in rock chip
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SummaryCore’s has moved to full ownership of the Albarta Project in Australia’s new exploration hotspot in the NT :
•Core has 100%-ownership* of 20 tenements covering over 2,000km2 in the NT
•Multiple occurrences of mineralisation at surface a strong indicator of prospectivity
•Core is drilling Blueys and Inkheart Silver Prospects
•Phase 2 drilling at Albarta will target copper at Virginia, Copper Royals and Greater Paradise Well
•Drill results pending from Blueys and Inkheart in the next few weeks
**subject to Ministerial Approval
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•Strong geophysical IOCG drill targets near Olympic Dam, Roxby SA
• Thick and high grade uranium drill intersections at Fitton discovery, SA
•Multiple mineralised zinc/lead breccia zones up to 1.5km long at Yerelina, SA
Albarta
FittonRoxby Downs South
Yerelina
Core’s Projects, S.A.F
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100% owned Roxby Downs South Project, SA• 10km from BHPB’s new Wirrda Well find and 40km
from Olympic Dam
•Strong geophysical drill targets
•Surrounded by Majors
Roxby, SAF
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100% owned Fitton Project in SA•Outstanding new discovery of high grade uranium
• Thick and high grade uranium intersections drilled by Core
•Uranium mineralisation outcrops and open at depth
•World class uranium mining district
Fitton, SA
150mRL
100mRL
50mRL
6,686,950mN 6,686,900mN 6,686,850mN
0 30
metres
42m
87m
112m
124m
SLR
C028
SLR
C00
3 SLR
C01
7
SLR
C02
2
1m@355ppm U3O8 from 25m
21m@384ppm U3O8 from 40mincluding 6m@978ppm U3O8 from 54m
19m@487ppm U3O8 from 79mincluding 6m@1112ppm U3O8 from 89m
60m@482ppm U3O8 from 53mincluding 35m@750ppm U3O8 from 53mwith 4m@3100ppm U3O8 from 55m
Granite
Granite
? ?
Doleriticschist
North South
Fitton 04
SOUTH AUSTRALIA
FITTON PROJECTSCOTT LEE PROSPECT
Cross section 365575Looking east
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100% owned Yerelina Project, SA• 567g/t silver and 15.11% zinc and lead in
rock chips
•High grades in gossans discovered at surface
•Mineralised breccias up to 1.5km long
• Large1,000km2 tenement area
Yerelina, SAF
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This document has been prepared by Core Exploration Limited (“Core”, “Company”) and provided as a basic overview of the tenements held or controlled by the company. This presentation does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of the Company.
None of the Company, any of its related bodies corporate or any of their representatives assume any responsibility for, or makes any representation or warranty, express or implied, with respect to the accuracy, reliability or completeness of the information contained in this document and none of those parties have or assume any obligation to provide any additional information or to update this document.
Level 2, 143 Hutt Street Adelaide SA 5000PO Box 7298, Hutt Street Adelaide SA 5000
Telephone: 08 7324 2987 Facsimile: 08 8312 2002www.coreexploration.com.au
To the fullest extent permitted by law, the Company, its related bodies corporate and their representatives expressly disclaim liability for any loss or damage arising in respect of your reliance on the information contained in this document (including your reliance on the accuracy, completeness or reliability of that information), or any errors in or omissions from this presentation, including any liability arising from negligence.
The mineral tenements of the Company as described in this presentation 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 an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited.
This document contains statements which may be in the nature of forward-looking statements. No representation or warranty is given, and nothing in this presentation or any other information made available by the Company or any other party should be relied upon as a promise or representation, as to the future condition of the respective businesses and operations of the Company.
TThe information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute’s codes and recommended practices. He has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities 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. Biggins consents to the inclusion in the report of the matters based on his information in the form and context in which
it appears
The presentation includes exploration information that was prepared and first disclosed by Core under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. The information in all previous announcements has been compiled by Mr Stephen Biggins as the Competent Person and who provided his consent for all previous announcements. The information that was reported in announcements previously released
under JORC Code 2004 is referenced in the table below:
Slide Reference Announcement Date Announcement Title4 11th June 2013 Large Scale Copper Nickel PGE Target at Core’s key Albarta Project, NT 4,13,14 12th August 2013 Undrilled kilometre scale copper target Virginia Copper Prospect, NT20 13th May 2013 Thick and high-grade uranium intersections Fitton Project, SA4,11,12 28th June 2013 Large NT copper mineral field confirmed within Albarta Project4,6 29th August 2013 All NT Tenements Granted 17 28th November 2012 Core’s NT Project area “highly prospective for IOCG” Geoscience Australia Report
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