Wad Amour Mauritania Copper Gold



Wad Amour Mauritania Copper Gold
Wad Amour Mauritania Copper Gold
IOCG-­‐style Project in the southern Mauritanides Belt
The informa,on contained in this presenta,on (“Presenta,on”) has been prepared by Alecto Minerals plc (the “Company”) and has been prepared for the purpose of providing general informa,on about, and an overview of, the Company and its opera,ons. It is not meant to be a complete review of all maDers concerning the Company. Whilst the Company has taken all reasonable care to ensure that the informa,on and facts contained in this Presenta,on are accurate and up-­‐to-­‐date, it does not make any representa,on or warranty, express or implied as to the accuracy or completeness of any informa,on included in this Presenta,on. This Presenta,on does not cons,tute an invita,on or inducement to engage in investment ac,vity in the ordinary shares of the Company nor does it form part of any offer or invita,on to purchase, sell or subscribe for, or any solicita,on of any such offer to purchase, sell or subscribe for, any securi,es in the Company nor shall this Presenta,on or any part of it, or the fact of its distribu,on, form the basis of, or be relied upon in connec,on with, making any such investment decisions. If you require any advice, please consult an authorised person specialising in advising on investments. No reliance may be placed, for any purposes whatsoever, on the informa,on, representa,ons, es,mates or opinions contained in this Presenta,on or on their completeness, fairness or accuracy and this Presenta,on should not be considered a recommenda,on by the Company or any of their respec,ve affiliates in rela,on to any purchase of the ordinary shares in the Company. While the informa,on contained herein has been prepared in good faith, no representa,on or warranty, express or implied, is given by or on behalf of the Company, or any of their respec,ve directors, partners, officers, employees, advisers or any other persons as to the completeness, accuracy or fairness of the informa,on or opinions contained in this Presenta,on and none of the informa,on contained in this Presenta,on has been independently verified or approved by any other person and is subject to upda,ng, revision and further amendment. Save in the case of fraud, no liability or responsibility is accepted for any errors, omission or inaccuracies in such informa,on or opinions. This Presenta,on contains certain forward-­‐looking statements rela,ng to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-­‐looking statements concern future circumstances and result sand other statements that are not historical facts, some,mes iden,fied by the words "believes", "expects", "predicts", "intends", "projects", "plans", "es,mates", "aims", "foresees", "an,cipates", "targets" and similar expressions. The forward looking statements, including assump,ons, opinions and views of the Company or cited from third party sources, contained in this Presenta,on are solely opinions and forecasts which are uncertain and subject to risks. A mul,tude of factors can cause actual events to differ significantly from any an,cipated development. The Company offers no guarantee that the assump,ons underlying such forward-­‐looking statements are free from errors nor does the Company accept any responsibility for the future accuracy of the opinions expressed in this Presenta,on or the actual occurrence of the forecasted developments. This Presenta,on is confiden,al and must not be copied, reproduced, published, distributed, disclosed or passed to any other person at any ,me without the prior wriDen consent of the Company. Neither this Presenta,on nor any copy of it may be distributed, published or reproduced, in whole or in part, by you or any other person for any purpose. Neither these slides nor any copy of them may be taken or transmiDed into the United States of America or its territories or possessions (the "United States"), or distributed, directly or indirectly, in the United States, or to any U.S. Person as defined in Regula,on S under the Securi,es Act 1933 as amended, including U.S. resident corpora,ons, or other en,,es organised under the laws of the United States or any state thereof or non-­‐U.S. branches or agencies of such corpora,ons or en,,es or into Canada, Australia, Japan, the Republic of Ireland or the Republic of South Africa. Neither these slides nor any copy of them may be taken or transmiDed into or distributed in Canada, Australia, Japan, the Republic of Ireland or the Republic of South Africa, or any other jurisdic,on which prohibits the same except in compliance with applicable securi,es laws. Any failure to comply with this restric,on may cons,tute a viola,on of United States or other na,onal securi,es laws. Any person who is not authorised to receive this Presenta,on must return it to the Company immediately. By receiving this Presenta,on, you agree that you have read this no,ce and are bound by its terms. ALECTO MINERALS – Wad Amour, Mauritania 2015
Mauritanides Belt Highly produc,ve and prospec,ve geology; established IOCG deposits and excellent poten,al for volcanogenic massive sulphides (VMS), orogenic Au, and magma,c Ni-­‐Cu deposits. Kinross Gold Corp. (2012) reports a world-­‐
class reserve + resource of at least 21 Moz Au at 1.47 g/t, with a 2013 gold equivalent produc,on of 247,818 oz. As of 2013, Proven and Probable Reserves stated at 9.6 Moz with a grade of 1.71 g/t and another 4.7 Moz in Measured and Indicated. Wad Amour Project 100% Owned by Alecto Minerals Plc ALECTO MINERALS – Wad Amour, Mauritania 2015
Total proved and probable reserves as of 2013, were 26.3 Mt at 1.01% Cu and 0.71 g/t Au. In 2013, Copper in concentrate produced was 37,970 tonnes 3
Wad Amour Project Explora,on Permits 1039 & 1040 Nouakachott
Wad Amour Project •  Permit 1039 – Chegar permit – 756 km2 •  Permit 1040 – Wad Amour permit – 613 km2 •  Total of 1369km2 under license for gold, copper and other Group 2 mineral substances •  Licenses held since 2011, renewed in 2014 for a further 3 years (with the possibility of a further 3 year renewal) •  Licenses in good standing with Government of Mauritania •  Preliminary explora,on has iden,fied numerous targets for follow-­‐up drilling •  Trenching iden,fied widespread Cu mineralisa,on at Chegar and surface sampling ALECTO MINERALS – Wad Amour, Mauritania 2015
Wad Amour Geological Senng Geology and structure interpreted from EM and ground magne,cs •  The Wad Amour Project is located within the Proterozoic Mauritanide Belt, which forms a north-­‐south striking assembly of metamorphosed rocks from meta-­‐sedimentary to ultra-­‐basic and ophioli,c origin with interspaced calc-­‐alkaline granite Con,nuous geology •  This Belt is known to be of economic interest due to containing a large number of small copper-­‐
rich base metal deposits and a few Cr showings (SteDler, 2005). •  The Projects geology is dominated by rocks of the Complexe du Gorgol Noir, a tectonic melange of schists, quartzites, volcano-­‐sediments, ultramafics, mylonites, granites and gabbros. •  Prominent NNW trending shear zone throughout licences Thrusted lithological block ALECTO MINERALS – Wad Amour, Mauritania 2015
Wad Amour Mineralisa,on Style Guelb Moghrein-­‐style IOCG mineralisa,on at Wad Amour •  Wad Amour is believed to host Guelb Moghrein-­‐style Iron Oxide Copper Gold (IOCG) mineralisa,on. The IOCG deposit type is defined by iron oxide rich hosts, regional scale altera,on and a close rela,onship to granites. At the Guelb Moghrein the mineralisa,on is hosted as sulphides and copper occurring as chalcopyrite. •  Mineralisa,on within the license areas appears to be related to the suture between the Groupe de Gadel and Groupe de Guenieba, which acted as a major conduit for fluid flow and allowed carbonate altera,on needed for this style of mineralisa,on to develop. •  Presence of iron-­‐rich gossans, surface copper oxides and rare sulphides indicate poten,al for significant copper mineralisa,on ALECTO MINERALS – Wad Amour, Mauritania 2015
Explora,on to date Work to date has lead to a solid base for scout drilling and resource defini,on Grab sampling
and mapping
and XRF
Airborne EM analysis & ground mag Trenching
•  Gradual but staged explora,on approach completed to date, including: •  Regional grab, soil and outcrop sampling (ALO geologists) •  Regional and prospect mapping (ALO geologists) •  Prospect-­‐level soil and rock chip sampling incl. XRF geochemical analysis (SRK ES) •  Remote sensing acquisi,on and analysis (ASTER, Landsat, IKONOS) •  Ground Mag & Electromagne,c surveys completed over Chiron, Oued d’Amour & Gadel (SRK ES) •  Infill geophysics surveys completed at Chiron & Gadel (SRK ES) •  Petrographic analysis and field observa,ons regarding IOCG-­‐style mineralisa,on by Peter Pollard (Pollard Geological Services – reports dated August 2012 and 1 December 2012) •  Trenching – Oued d’Amour, Barkeol & Chiron(1500 metres) ALECTO MINERALS – Wad Amour, Mauritania 2015
Chiron Target Priority Drill Read Target • 
Surface Cu anomaly over an area of 800m with potential strike up to 3km.
Mineralised iron oxide - quartz Breccia on an offshoot of main NNW-SSE shear
Rock chips including: •  5.79% Cu, 4.9% Cu, 0.66g/t Au & 0.12% Zn over 800m strike • 
Trenching completed in 2012 •  1292 samples taken from 1,393 metres of trenches across Chiron target •  Large zones of low grade Cu iden,fied in trenches •  Highlights included: •  MTR001: •  93.6m @ 0.11% Cu, including 30m @ 0.24% Cu and •  1m @ 0.7g/t Au •  MTR004: 54m @ 0.15% Cu •  MTR007: 5m @ 0.33% Cu • 
EM, ground magne,cs and airborne geophysics show: •  Several structures in the vicinity of the Chiron Target •  Features that correlate with surface mineralisa,on • 
Field and Petrographic work by consultant geologist Peter Pollard, an IOCG specialist and author of several academic papers, confirmed the Chiron target as a “…high priority target for IOCG mineraliza,on similar to that at Guelb Moghrein” ALECTO MINERALS – Wad Amour, Mauritania 2015
Chiron Trenching 1,393 metres trenched 2012 ALECTO MINERALS – Wad Amour, Mauritania 2015
Chiron Ground Mag Geophysics surveys • 
Ground magne,cs iden,fied dominant NW trending fabric and important WNW trending structures that coincide with the iron silica ridges. • 
Major conduc,vity high found between the two main mineralised breccia ridges at Chiron; this is interpreted as resul,ng from sulphide mineralisa,on at depth. • 
ALECTO MINERALS – Wad Amour, Mauritania 2015
The anomaly coincides with a strong copper in soils anomaly, surface mineralisa,on and encouraging intersec,ons in trenching These WNW structures are believed to be highly prospec,ve, ac,ng as the main conduits for mineralisa,on at Guelb Moghrein. The EM survey iden,fied a very large conduc,vity high to the south (untested), thought to be an important new target for new copper mineralisa,on which may be hidden at surface. 10
Chiron Planned Drilling 1500 metres RAB or RC planned but not executed 2014 3 holes planned to test the EM anomaly to the NNE of the main Chiron target 8 holes planned to test the anomalous trench and rock chip samples at Chiron ALECTO MINERALS – Wad Amour, Mauritania 2015
Oued Amour Target 800m >100ppm Cu-in-soil anomaly
•  Successful surface sampling has delineated a 800m >100ppm Cu soil anomaly with rock chips returning grades of up to 1.2% Cu •  Trenching revealed several low grade zones of Cu •  Largest BRGM anomaly (from regional surveys) •  EM, ground magne,cs and airborne geophysics show: •  Oued Amour target lies within a major NE trending structure, with mineralisa,on situated at the intersec,on of this major structure and ESE trending structures •  Central EM anomaly is coincident with a small copper in soils anomaly, possibly analogous to Chiron ALECTO MINERALS – Wad Amour, Mauritania 2015
Gadel Target Large Fe rich outcrop striking over 1.6km
•  Gadel is characterized by two large silica-­‐iron rich outcrops with a combined length of over 1.6km, located 20km SE of Chiron •  Soil sampling revealed anomalous areas (up to 40ppm Cu), with subsequent rock chip sampling discovering values up to 544ppm Cu & 153ppm Cu in siliceous FeOx •  EM and ground magne,cs have not iden,fied any significant anomalies •  Field report by Peter Pollard states prospect similar to Chiron, but larger with similar iron oxide breccias within a muscovite schist host ALECTO MINERALS – Wad Amour, Mauritania 2015
Gadel IOCG Poten,al Peter Pollard (IOCG expert) Observa,ons
•  Two silica-iron oxide bodies with a combined
length of approximately 1.6km and up to 30m
wide stand out from the surrounding plain.
•  Host muscovite schist pervasively altered to finegrained silica ± iron-oxide which is cut by quartz
veins and later breccia zones with angular quartz
fragments and silica-iron oxide cement.
Gadel Breccia – Quartz fragments in a matrix of quartz and variably coloured limonite •  Iron oxides similar to those at Chiron in being
variable mixtures of hematite and goethite.
•  Weakly magnetic material in places retains the
crystal shape and cleavage of magnetite but is
strongly altered to hematite.
•  No secondary copper minerals were observed,
but it is likely sulphides were originally present
together with magnetite and possibly carbonate
and other hydrothermal phases.
ALECTO MINERALS – Wad Amour, Mauritania 2015
Other Targets Explora,on upside on mul,ple other BRGM iden,fied targets
Argane BRGM Cu target no recent explora,on Moktar Lahjar BRGM Cu target no recent explora,on Chiron Tamourt Oued d’Amour BRGM Cu target no recent explora,on ALECTO MINERALS – Wad Amour, Mauritania 2015
Gadel 15
Nearby Projects TransAfrika and OreCorp-­‐Peaks JV neighbour project area to south Neighboring projects follow the exact same geological trends ALECTO MINERALS – Wad Amour, Mauritania 2015
Contacts Alecto Minerals plc
Mark Jones – CEO
E: [email protected]
T: +44 (0) 20 7499 5881
Dominic Doherty – OperaRons Director
E: [email protected]
T: +221 78 129 5541
ALECTO MINERALS – Wad Amour, Mauritania 2015

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