Published on February 20, 2014
Investor Presentation Kyrgyz High Grade Copper and Gold + Australian Nickel and Copper February 2014
White Cliff – Investment Overview Kyrgyz Copper‐Gold Project West Australian Nickel Projects • High grade epithermal copper and gold at surface; and • Extensive copper‐gold porphyry system at surface • Current ownership 57% with option to increase to 89% • High Impact exploration commences • Lake Johnston Nickel & Copper (100%) – April 2014 – 2000m trenching – 4000m drilling • Extensive news flow in 2014 – – – – – Extensive ultramafic rocks Multiple high priority EM targets with; Associated Ni‐Cu‐PGE soil anomalies $150,000 government co‐funding 100% ownership • High Impact exploration commences: – April 2014 – 1000m+ drilling • Merolia Nickel & Copper Project(100%) – Electromagnetic surveys targeting sulphides – March 2014 ASX:WCNPAGE 2
Corporate Snapshot Capital Structure Major Shareholders Shares 186.1M Options 122 M 116.2m ‐ 6c ex price expiring 30/9/2014 5.75m ‐ 25c ex price expiring 30/6/2014 Cash (30 December 2013) $0.55 M Share Price $3.0 M 15% Top 20 32% Top 50 54% Top 100 69% $0.016 Market Cap Directors and Founders Board of Directors Managing Director Todd Hibberd Executive Chairman Michael Langoulant Non‐exec Director • Experienced team • Tight capital structure • Highly leveraged to exploration success Rodd Boland ASX:WCNPAGE 3
The Chanach Copper‐Gold Project The Aucu Deposit The Chanach Deposit • Epithermal copper‐gold • Porphyry copper‐gold – High grade – 5‐10 metres wide – Rock chip channel results: • 7 metres at 3.8% copper and 30 g/t gold • 10 metres at 1.7% copper • 9 metres at 6 g/t gold • +1km2 target zone – Moderate grade – 100‐500 metres wide – Drill results (from surface): • • • • 10 metres at 1.01% Cu 14 metres at 0.77% Cu 50 metres at 0.49% Cu 80 metres at 0.50% Cu • +3km2 target zone ASX:WCNPAGE 4
Chanach ‐ Option to increase Ownership • Option to increase White Cliff’s ownership in Chanach from 57% to 89% by: – acquiring T2Gold’s 32% interest • Option exercised through consideration of: Pro‐forma Capital Structure Shares Options 116.2m ‐ 6c ex price expiring 30/9/2014 5.75m ‐ 25c ex price expiring 30/6/2014 Cash (30 December 2013) 260M 122 M $0.55 M Share Price $0.016 Market Cap $4.1 M – Option fee of $5,000 – $45,000 cash; and – 73,841,667 White Cliff shares (escrowed for 12 months or 3 months if distributed in‐specie by T2Gold to their shareholders) ASX:WCNPAGE 5
Location‐Access‐Infrastructure • North‐western Kyrgyz Republic • Excellent access roads • Local Airstrip • Close to regional mining support hubs – 175km to Taraz – 200km to Namagan • Near operating mines – Terek Sai (Au) – Bozymchak (Cu‐Au‐Ag) – Ishtamberdy (Au) ASX:WCNPAGE 6
Copper‐Gold Targets and Tenure • Two Copper‐Gold deposits • Multiple porphyry and quartz vein targets defined by: – Surface alteration – Rock sampling – Geological mapping • 83km2 permit – Valid to Dec 2015 – Can be extended for two years – Converts to mining permit (25 years) ASX:WCNPAGE 7
Aucu ‐ A High Grade Epithermal System • High grade copper and gold – Exposed at surface – Mineralised quartz veins and halos 5‐10 metres wide – Multiple faults up to 1km long • Significant tonnage potential at high grades – +1km2 target zone • Rock chip channel results: – 7 metres at 3.8% copper and 30 g/t gold – 10 metres at 1.7% copper – 9 metres at 6 g/t gold Aucu copper-gold discovery within Chanach permit • Key value driver in 2014 ASX:WCNPAGE 8
Aucu Geology and Mineralisation Target zone: +1km2 alteration system Purple hatch: exposed alteration (quartz-sericite-pyrite) Mineralised faults: • Main exploration target • Part of an extensive fault system • Three zones • See next slide Blue oval: +1km2 alteration system Purple hatch: exposed phyllic alteration quartz-sericite-pyrite ASX:WCNPAGE 9
Aucu Copper and Gold Assay Results High grade trench rock chip channel results including: • 7 metres at 3.8% copper and 30.1 g/t gold • 10 metres at 1.8% copper including 1m at 106 g/t gold • 9 metres at 6 g/t gold 1 3 2 ASX:WCNPAGE 10
Aucu 2014 Exploration Plan • Follow up 2013 high grade copper and gold results – 2000m trenches at 50‐100 metre spacing to define orientation and scale of deposit. Planned Trenches: • Blue-50m spaced • Grey -100m spaced Targeting mineralised faults (red) • Drill mineralised zones – ~2500m of RC drilling – Following up best trenching and sampling results ASX:WCNPAGE 11
Chanach Porphyry Copper Deposit • Extensive Copper mineralisation identified from surface • 23 of 25 drill holes mineralised (depths ranged from 100‐350m) • Wide zones of mineralisation identified • Significant Copper grades (and associated gold) • 80 metres at 0.5% copper in supergene zone including; • 10 metres at 1% copper • 40 metres at 0.5% copper in supergene zone • 180 metres at 0.2% copper and 0.15 g/t gold including; • 34 metres at 0.40% copper and 0.26 g/t gold • Potential for a very large tonnage, moderate grade deposit ASX:WCNPAGE 12
Chanach Interpreted Mineralisation Zone 1 Zone 2 Zone 3 ASX:WCNPAGE 13
Kyrgyz 2014 Exploration Plan Aucu Copper‐Gold Deposit • Follow up 2013 high grade copper and gold results – 2000m trenches at 50‐100 metre spacing to define orientation and scale of deposit. • Drill mineralised zones – ~2500m of RC drilling – Following up best trenching and sampling results Chanach Copper‐Gold Deposit • Expand mineralised footprint • Drill mineralised zones – ~1500m of RC drilling – zones two and three • Metallurgical test work – Copper leach test work (oxide component) – Baseline metallurgical test work (sulphide component) ASX:WCNPAGE 14
Australian – Nickel and Copper (100%) • Lake Johnston – Nickel sulphide targets – High Impact drilling Apr 14 – $150,000 in government co‐ funding for drilling MEROLIA • Merolia – Targeting Nova‐Bollinger style nickel and copper sulphide systems – EM survey Mar 14 LAKE JOHNSTON ASX:WCNPAGE 15
Lake Johnston • Lake Johnston Region: – Existing nickel mines • (Norilsk Nickel) Lake Percy Geochemistry survey Dec 2013 – Good Infrastructure – 250km to Esperance Port Norilsk Nickel Mines • Mt Glasse Prospect – Multiple EM targets – Anomalous Ni‐Cu‐PGE soils – Drilling +1000m in April 2014 Mt Glasse Planned drilling March 2014 – 4 EM conductors to be tested ASX:WCNPAGE 16
Mt Glasse Nickel and Copper (100%) • Multiple nickel sulphide drill targets – strong conductors – on ultramafic contacts with associated sediments – High Ni‐Cu‐Pt‐Pd soil values • Existing drill results: – 4m at 1.3% Ni and 330 ppm Cu – 4m at 1.2% Ni and 500 ppm Cu Cross Section ASX:WCNPAGE 17
Mt Glasse Cross Section Surface Ni-Cu-Pt-Pd Anomaly ASX:WCNPAGE 18
Merolia Nickel‐Copper Project (100%) • Emerging nickel province with recent discoveries at: – Camelwood (Ni) – Collurabie (Ni‐Cu‐PGE) – Mulga Tank (Ni‐Cu) • In a world class region: – Mt Keith >2 Mt Ni metal – Perseverance >1 Mt Ni metal Merolia NickelCopper Project – Kambalda >1 Mt Ni metal ASX:WCNPAGE 19
Merolia Ultramafic Complex • Layered Mafic‐Ultramafic Intrusive complex Diorite Hill-Rotorua Complex • Multiple nickel‐copper and platinum targets – Diorite Hill‐Rotorua complex – Coglia complex • Large landholding (771 km2) • Planned exploration – Electromagnetic survey – RC drilling (2000m) Q2‐14 Coglia Complex ASX:WCNPAGE 20
Forward Exploration Schedule Project Commodity Q1 2014 Q2 2014 Drilling Lake Johnston Nickel‐Copper April Q3 2014 EM Merolia Nickel‐Copper April April Trenching Aucu Copper‐Gold April Magnetics Aucu‐Chanach Copper‐Gold May Trenching Chanach Copper‐Gold June Drilling Aucu Copper‐Gold July Drilling Chanach Copper‐Gold Q4 2014 Q1 2015 Q2 2015 Q3 2015 April Activity Aug Aug This plan represents the Company’s current view of planned exploration of events and is therefore subject to change ASX:WCNPAGE 21
White Cliff – Investment Summary Kyrgyz Copper‐Gold Project (89%) • Extensive mineralised system West Australian Nickel Projects • Two highly prospective projects – The high grade Aucu Epithermal Deposit – Lake Johnston Nickel‐Copper Project – The large scale Chanach Porphyry Deposit – Merolia Nickel‐Copper Project • Exploration commences April 2014 delivering regular, high impact news flow in 2014 – 2000m trenching – 4000m drilling • 100% ownership • High Impact exploration starts April 2014 – >1000m drilling on multiple targets – Electromagnetics to define further nickel sulphide targets Providing investors a highly leveraged exposure to exploration success from an active 2014 exploration program ASX:WCNPAGE 22
Disclaimer and Important Information Forward Looking Statements • This presentation has been prepared by White Cliff Minerals Limited (“White Cliff”). It contains forecasts and forward looking statements which are no guarantee of future performance and which involve certain risks. Actual results and future outcomes will in all likelihood differ from those outlined herein. The presentation should not be construed as an offer or invitation to subscribe for or purchase securities in White Cliff. Nor is it an inducement to make an offer or an invitation with respect to said securities. • Forward‐looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similar expressions are intended to identify forward‐looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward‐looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward‐looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward‐looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non‐occurrence of any events. Competent Persons Statement • The information in this report that relates to mineral exploration results, resources or reserves is based on information compiled by Mr Todd Hibberd, B.Sc Hons (Geol), MSc, Dip Bus, Member AusIMM, Member AICD and an employee of White Cliff Minerals Limited. Mr Hibberd has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking 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 Hibberd consents to the inclusion in the report of the matters based on this information in the form and context in which it appears. 23 ASX:WCNPAGE 23
Contacts Todd Hibberd Managing Director T: +61 (8) 9321 2233 Mike Langoulant Chairman T: +61 (8) 9321 2233 White Cliff Minerals Limited T: +61 (8) 9321 2233 A: Suite 2, Level 1, 47 Havelock Street, West Perth WA 6005 | P: PO Box 368, West Perth WA 6872 E: firstname.lastname@example.org | W: www.wcminerals.com.au ASX:WCNPAGE 24
APPENDIX 1‐ THE KYRGYZ REPUBLIC ASX:WCNPAGE 25
Kyrgyz Republic – Central Asia • Democratic Republic • Borders Kazakhstan and China • Good Infrastructure • Strong mining culture • Low cost labour and power regime Date Event 2010 Democratic Elections 2012 Improved mining laws • 5 year Permit • Can be extended 2+2 • 25 year exploitation permit 2013 Improved tax regime • Royalty 3% • Sales Tax 2% • Region Tax 2% • Income Tax 10% ASX:WCNPAGE 26
International Mining in Kyrgyz Company Deposit Contained Gold (Oz) Contained Copper (kt) $USD Investment Centerra Kumtor 13.5 Million $5B Orsu Taldybulak 3.3 Million Charaat Charaat 5.6 Million $396M* Manas Shambesai ‐ Obdilla 697,000 $43M Robust Andash 679,000 77 $130M Kazakhmys Bozymchak 1.0 Million 170 $130M 223 $100M * 2011 prefeasibility estimate ASX:WCNPAGE 27
Regional Mining Activity Tien Shan‐Copper Belt Deposit Mining Status Terek Sai (Au) Production Bozymchak (Cu‐Au) Production Ishtamberdy (Au) Production Charaat (Au) Approved Kuru Tegarek (Cu‐Au) Exploration ASX:WCNPAGE 28
Regional Mining (100km radius) Copper % Gold (g/t) Contained Copper (Mt) Contained Gold (Oz) 2500 Mt 0.38 0.50 9.5 40.1 Million Porphyry 2800 Mt 0.36 0.35 10.0 31.5 Million Kuru Tegerek Porphyry 173 Mt 0.59 0.56 1.02 3.1 Million Bozymchak Porphyry 20Mt 0.85 1.56 0.17 1.0 Million Deposit Type Kalmakyr Porphyry Dalnee Tonnes Charaat Vein 30 Mt ‐ 4.1 ‐ 4.0 Million Terek Sai Vein ~23 Mt ‐ ~3 ‐ 2.2 Million Ishtamberdy Vein 15.9Mt ‐ 4.9 ‐ 2.5 Million ~ tonnage and grade approximate ASX:WCNPAGE 29
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