gold & nickel in western australia
TRANSCRIPT
Gold & Nickel in Western Australia
Binti Binti/Gindalbie – GoldFraser Range – Nickel-CopperErrabiddy – Gold & Nickel-Copper
(ASX:ERW)Presentation | February 2021
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GOLD & NICKEL IN WESTERN AUSTRALIABinti Binti / Gindalbie, 70km north-east of Kalgoorlie
Targeting orogenic gold deposit in similar structural setting to King of the Hills
Structurally well positioned, gold-in-soil anomaly adjacent to historic Gindalbie goldfield
5,267m drilled November/December 2020, update early February 2021, drilling to recommence March 2021
Fraser Range, 115km east of Norseman
Targeting mafic intrusions hosting Ni-Cu mineralisation
Located 30kms south-west of Nova-Bollinger mine owned by IGO Ltd
Granted exploration licences located on coincident magnetic/gravity high
Ground geophysical (moving and fixed loop EM) surveys in progress, update early February 2021, surveys ongoing
Errabiddy, 200km north-west of Meekatharra
Targeting shear hosted gold and mafic intrusions hosting Ni-Cu
Gold and nickel targets identified
Major tenement position located adjacent to the Errabiddy Shear Zone
Large detailed airborne magnetic survey scheduled for March 2021, field work to commence April 2021
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CAPITAL STRUCTURE
No. Notes
Shares 37.46M Listed on ASX 14 December 2020
Options (Unlisted) 3.6M Exercisable at 30c on or before 26
November and 2 December 2024
Options (Listed) TBD
Proposed issue of options to all shareholders on the register on a date to be determined in March 2021on the basis of 1 option for every 2 shares held, exercisable at 30c per option within 18 months of issue. An application for quotation of the options on ASX will be made at that time.
Cash at bank $4.85M
Debt Nil
Enterprise Value $2.6M
Errawarra Resources Ltd share price chart and volume since commencement of trading on 14 December 2020
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TOP 20 SHAREHOLDERSPosition Holder Name Holding %
1 Sorrento Resources Pty Ltd 1,214,411 3.24%2 <Murray Family Fund No 2 A/C> 993,788 2.65%3 <Craton Capital Global Resources> 750,000 2.00%4 Rimoyne Pty Ltd 690,000 1.84%5 Hr Equities Pty Ltd 687,594 1.84%6 <Drp A/C> 638,500 1.70%7 Corporate Board Services 589,425 1.57%8 HSBC Custody Nominees (Australia) Limited 521,880 1.39%9 Acacia Investments Pty Ltd <Dph A/C> 495,478 1.32%
10 Jetosea Pty Ltd 485,613 1.30%11 <Musgrave Super Fund A/C> 450,000 1.20%12 Jetosea Pty Limited 425,000 1.13%13 Equity & Royalty Investments Ltd 406,388 1.08%14 <Sheppard Super A/C> 375,000 1.00%15 <Hicks Group S/F No 3 A/C> 364,952 0.97%16 Finnian Group Pty Ltd 350,000 0.93%17 <Bc1> 300,000 0.80%17 Mr Jeremy Michael Malaxos 300,000 0.80%17 <Superannuation A/C> 300,000 0.80%17 <McDonagh S/F A/C> 300,000 0.80%18 <Baza High Conviction A/C> 275,000 0.73%18 <Williams Superannuation A/C> 275,000 0.73%18 North of The River Investments Pty Ltd 275,000 0.73%19 Bennelong Resource Capital Pty Ltd 270,000 0.72%20 Mr Jason Barry Kevin Adams 265,000 0.71%
Total 11,998,029 32.02%Total Issued Capital - Selected Security Class(Es) 37,464,411 100.00%
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BOARD OF DIRECTORS & COMPANY SECRETARY
Markus Bachmann Greta Purich Thomas Reddicliffe Damian Hicks Mindy Ku
Non-Executive Chairman Non-Executive Director Non-Executive Director Executive Director Company Secretary
• Founding Director of Errawarra Resources Ltd (2012)
• Director of Hannans Ltd (2012) and Critical Metals Ltd (2016)
• 25 years of experience in global equity markets, precious metals and raw materials.
• Holds a Master (MA) in Business and Economics (cum laude) from the University of Berne, Switzerland.
• Started in the corporate finance department of the Credit Suisse Group, before joining the SBC Brinson Asset Management Emerging Markets team in 1997. Moving to South Africa in 2000 he joined Coronation Fund Managers in Cape Town, South Africa, as a senior manager for various retail products and institutional mandates.
• Co-funded Craton Capital in 2003 where he is the manager of the Craton Capital Precious Metals Fund and the Global Resources Fund since their inception.
• Curtin University (West Australian School of Mines), Post Graduate Diploma (Mining Engineering)• University of Western Australia,
Bachelor of Science (Geology)• University of Western Australia,
Bachelor of Commerce (Corporate Finance, Investment Finance)
• MAIG• Previously held roles as an Executive
Director, Exploration Manager, Mining Engineer and Mine Geologist, for companies such as BHPB, DorayMinerals, Revolution Mining, Rio Tinto, Xstrata, and Saracen
• Bachelor of Science (Hons) Geology -University of Qld
• Master of Science - Ore Deposit Geology – University of WA
• Fellow AUSIMM• Previously employed by Ashton Mining
Ltd (20 years) as Australian Exploration Manager 1991-2001, Striker Resources Ltd as Technical Director (2001-2005), North Australian Diamonds Ltd as CEO (2005-2011) and related company TopEnd Uranium Ltd as CEO 2007-2011.
• Currently Technical Director of Geocrystal Ltd (2012 - present), Technical Director of Kalyan Resources Pty Ltd (2013 - present) and Executive Director of Sorrento Resources Pty Ltd (2019 - present).
• Experience covers management of Australian focused diamond exploration, evaluation, trial mining and feasibility studies and company management.
• Founding Director of Errawarra Resources Ltd (2012)
• Founding Director of Hannans Ltd (2002 - present), Critical Metals Ltd (2016 - present) and Corporate Board Services Ltd (2016 - present)
• Principal responsibilities includes strategy formulation, deal origination & execution and capital raising.
• University of Western Australia, Bachelor of Commerce (Accounting & Finance)
• Admitted Barrister & Solicitor of Supreme Court of Western Australia
• Graduate of Australian Institute of Company Directors and Chartered Secretaries Australia courses, Graduate Diploma in Finance
• Company Secretary of Errawarra Resources Ltd (2014)
• Managing Director of Corporate Board Services Pty Ltd (2016)
• Bachelor of Science in Computing from the University of Greenwich, United Kingdom; Member of CPA Australia
• 15 years’ international experience in finance, compliance and governance across multiple jurisdictions.
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EXPLORATION TEAM | FRASER RANGE NICKEL PROJECT
From left to right are Nick Walker, Bill Amann, Greta Purich (Director, Errawarra), Adrian Black, Thomas Reddicliffe (Director, Errawarra), Ian Pryor and Thanga Muthupandian from consulting firm Newexco Exploration, www.newexco.com.
Newexco are credited with playing important roles in the discovery of Golden Swan (Poseidon Nickel), Thursday’s Gossan (Stavely Minerals), Savannah North (Panoramic Resources), Abi Rose (Poseidon Nickel), Monty (Sandfire Resources), Mallee Bull (Peel Mining), Nova (Sirius Resources), Spotted Quoll and Flying Fox (Western Areas).
Newexco have planned and will manage Errawarra’s exploration at Fraser Range.
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LOCATION MAP
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BINTI BINTI/GINDALBIE | LOCATION & MINERAL OCCURRENCES
Target: Orogenic gold deposit
Location: 70km north-east of Kalgoorlie
Prospectivity: High
Target model: mineralisation within pressure shadow at greenstone-granite contact
Exploration Goal: discover the next “King of the Hills”
Timetable: Drilling commenced in November 2020, first round of results early February 2021, aircore drilling to recommence March 2020
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BINTI BINTI/GINDALBIE | SETTING & GOLD PRODUCTION
Min
e N
ame
Tonn
es
Go
ld G
rad
e (g
/t)
Go
ld
Pro
duc
ed
(Kg
)
Yea
r
Havilah 983 17.3 17.0 1901-1911
Walls Reward 588 39.4 23.1 1952-1953
Kurrajong 288 4.6 1.3 1946-1981
Sunbeam East 8 13.4 0.1 1920
Myrtle 4 125.5 0.5 1908
Total Weighted Average 1871 22.5 42.1 1901-1981
November / December 2020 drilling targeted the +10ppb soil anomaly in E27/603. March 2021 drilling will target the on strike and at depth targets around the historic workings.
Areas around the historic workings shown in the table above will be the subject of aircore drill testing in March 2021.
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FRASER RANGE | NICKEL-COPPER
Target: mafic intrusions hosting economic nickel-copper mineralisation
Location: c. 30km south-west of Nova nickel-copper-cobalt mine owned by IGO Ltd
Over 100 sq km of tenure covering the Fraser Range gravity ridge.
Project at early stages of exploration with good historic surface geochemistry coverage, but limited surface EM coverage
Targets identified and exploration strategy planned out.
Exploration Goal: Discover the next “Nova”
Timetable: Commenced ground geophysical surveying in November 2020, update early February 2021, ongoing surveying. Drilling will be planned if bedrock conductive sources identified.
Regional magnetics showing Errawarra tenement position relative to Nova-Bollinger nickel-copper-cobalt mine owned by IGO Ltd. Each graticule block is 20km * 20km.
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FRASER RANGE | SURFACE GEOLOGY
Fraser Range surface geology. Priority areas within these two tenements will be covered with ground electromagnetic surveys are in progress and will continue throughout 2021.
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ERRABIDDY | GOLD & NICKEL-COPPER
Location: 200km north-west of Meekatharra
Structural setting: tectonic similarities with the Albany-Fraser Zone at the eastern margin of the Yilgarn Craton
Target: orogenic gold and mafic intrusives hosting economic nickel-copper mineralisation (like Julimar)
Exploration planned: field reconnaissance, geochemical sampling, aircore drilling, ground moving loop electromagnetic (MLEM) surveying over anomalous soil geochemistry and subtle ground fixed loop (FLEM) geophysical anomaly, reverse circulation drill testing of targets
Exploration Goal: a major gold deposit and or the next “Julimar”
Timetable: Large detailed airborne magnetic survey scheduled for March 2021, field work to commence April 2021
Specimens collected from E09/2346during site visit in September 2020
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ERRABIDDY | TARGETING THE EDGE OF THE YILGARN CRATON
Errabiddy Project regional landholders targeting the edge of the Yilgarn craton
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ERRABIDDY | GOLD TARGETS E09/2459
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ERRABIDDY | GOLD & NICKEL TARGETS E09/2457
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ERRAWARRA | WHAT’S IN A NAME?
The name Errawarra was given to the Company in 2012 by the Jigalong People, custodians of the Jigalong Aboriginal Reserve in the East Pilbara region of Western Australia.
“Erra” means ‘red’ and “warra” means ‘black’, representing the red sands of the Martu lands and the black manganese on the surface within the Jigalong Aboriginal Reserve.
Red also represents ‘courage’ and black ‘determination’ both important qualities for an exploration company to be successful.
Project Activity Timing
Binti Binti Aircore drilling for goldCommenced
November 2020
Fraser Range Ground EM (moving loop) surveyCommenced
December 2020
Gindalbie Settled acquisition of historic goldfield January 2020
Binti Binti Gold assays and interpretation February 2021
Fraser Range Continue EM surveys 1st Quarter
Binti Binti / Gindalbie
Infill aircore drilling for gold / RC drill testing for deep extensions
1st Quarter
Errabiddy Airborne magnetic survey 1st Quarter
Errabiddy Reconnaissance mapping and soil sampling, ground (MLEM) geophysical surveys
2nd Quarter
CONTACT DETAILS
Damian Hicks
Executive Director
+61 419930087(M)
Mindy Ku
Company Secretary
+61 8 9322 3383 (T)
www.errawarra.com
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ERRAWARRA | COMPLIANCE STATEMENTThe information in this document that relates to exploration results at the Fraser Range is based on information compiled by Adrian Black, a Competent Personwho is a Member of the AIG (1364). Adrian Black is a consultant to Errawarra Resources Ltd and its subsidiary companies. Adrian Black has sufficient experience,which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify as aCompetent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORCCode).
The information in this document that relates to exploration results at Binti Binti and Gindalbie is based on information compiled by Greta Purich, a CompetentPerson who is a Member of the AIG (7383). Greta Purich is a consultant to, and non-executive director of Errawarra Resources Ltd. Greta Purich has sufficientexperience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify asa Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORCCode).