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Who is Oresome Australia?
• Oresome is a Heavy Mineral Sands (HMS) focused exploraOon and resource development company
• Wholly owned subsidiary of Metallica Minerals Ltd, Listed on the Australian Stock Exchange (ASX Code MLM)
• Head office in Brisbane
• Oresome’s sole focus is Mineral Sands exploraOon & development on Western Cape York – QLD
Tenement summary
• ML20669, Urquhart Point
• MLA20737, Mbung
• 10 Granted ExploraOon Permits
• 6 ExploraOon Permit ApplicaOons
• Tenure covering over 2,000km2.
Urquhart Point’s Current Resource
• To be updated to include mineral assemblage expected April 2014.
• IMC to prepare a mining schedule resource. Included in this will be a opOmisaOon and review of cut-‐off grade based on expected/forecast market condiOons.
• Modal drilling was completed in early Feb 2014 and included taking metallurgical samples (5t) and some exploratory drilling.
• These samples are currently with RJ Robbins in Brisbane for analysis.
Cutoff Grade HM%
From Tonnes Density HM % OS % Slimes % Material
10 231,680 1.60 16.33 3.76 0.90 TOTAL
8 518,400 1.60 12.18 6.10 0.98 TOTAL
6 1,215,040 1.60 9.18 8.04 0.96 TOTAL
5 1,751,360 1.60 8.04 9.55 0.99 TOTAL
4 2,356,800 1.60 7.13 11.04 1.15 TOTAL
3 2,960,960 1.60 6.40 11.48 1.14 TOTAL
2 3,085,760 1.60 6.25 11.50 1.12 TOTAL
0 3,095,680 1.60 6.24 11.51 1.12 TOTAL
For further informa.on see ASX Release 5-‐12-‐2013
Indicated Resource EsLmate (less buffers)
PermiPng – Urquhart Point & Regional ExploraLon
• Licence to operate is in place to progress both mining at Urquhart Point & conOnued regional exploraOon • Landowner agreements are in place over both Urquhart Point (Wik
and Wik Waya People) & T16 (Apudthama Land Trust) • Environmental Authority (EA) issued • Plan of OperaOons (PO) accepted • Environmental Bond in place • Environmental Management Plan (EMP) in drai • ERA 50 coastal works applicaOon submijed (required prior to
shipping HM concentrate) • Urquhart Point is not affected by the Cape York Regional Plan
(CYRP) • Pre-‐commissioning work can begin now on ML20669 (Urquhart
Point) • ExploraOon can conOnue at T16 (awaiOng end wet season and
bejer understanding of proposed CYRP)
• Seeking Partners (Project Equity Funding) • Feasibility Study – Will be updated once resource is
updated (April 2014) and project execuOon is defined • Plant design200-‐300tphr size, capital requirement
(including working capital) • Heavy Mineral (HM) concentrate off take partner • Project execuOon plan • PosiOve exploraOon results discovery T16 (EPM15371)
has major exploraOon upside, but further exploraOon may be affected by CYRP
Current Status
Regional Targets IdenLfied using Radiometrics
• Data used in idenOfying 22 HMS Regional ExploraOon targets included: • Data sources from the Cape York airborne geophysical survey (ID-‐1225)
• Shujle Radar Topographic Model gridded data • Digital geological data over Cape York Peninsula compiled by the Geological Survey of Queensland
• Specific data on the Urquhart Point mineral sand deposit provided by Oresome Australia (example/control target signature)
• Surface reconnaissance samples collected in field work in early 2013 idenOfied T16 as ready drill target (indicaOng large target area & HM> 1%)
• T16 Regional ExploraOon Target 160km N of Weipa/ Urquhart Point
• T16 is one of many targets along 300km of coastal belt
• We never thought Urquhart Point only 3km away from Weipa was the only Zircon-‐RuOle HM deposit in Western CYP
Only a very small porOon of T16 was drilled by 36 shallow holes (area within 1.8km x 800m) – scope cut short by bad weather late 2013
T16 Summary ZIRCON RICH HEAVY MINERAL SAND MINERALISATION CONFIRMED EXCELLENT POTENTIAL FOR ADDITIONAL DISCOVERIES IN CAPE YORK PENINSULA • All 36 auger holes drilled (average depth 3.7m) on T16 recorded significant
(HM) mineralisaLon • Average of 1.7% HM (total HM) based on 134 samples (total 152 one metre (m)
samples collected) • HM assemblage analysis confirmed a weighted average of 1.43% HM (aier
screening) ranging from (0.47% to 3.01%) HM over an average composited interval thickness of 3.5 m
• The Zircon-‐rich HM assemblage averaged (35 drill hole composites) 32.6% Zircon, 5.9% RuLle and 10.7% other Titanium minerals (Ilmenite, Anatase, Leucoxene)
• Weighted average composite grade of 0.45% Zircon (ranging from 0.18 to 0.87% Zircon)
• Valuable Heavy Mineral (VHM) (Zircon, RuLle, other Titanium (Ti) Minerals) comprise 49% of the total HM – see Pie Graph
• 24 holes ended with samples recording over 1% HM • T16 HM mineralisaLon is within fine quartz sand with generally low slimes • Only a small porLon of the total T16 target area has to date been drilled • T16 is only one of many targets along the Company’s 300 km of sandy coastal
belt of western Cape York, suggesOng significant potenOal for addiOonal HM mineralisaOon discoveries
Summary of the T16 HM Assemblage Analysis of Composited Samples of 35 drill holes
(Zircon rich 33% of HM)
• Significant mineralisaOon drilled over 1.8km x 800m area open in most direcOons
• All 36 holes intersected significant HM mineralisaOon (>1%HM)
Queensland Government Drak Cape York Regional Plan (CYRP)
On 20 November 2013 the Queensland Government (QLD Gov) released for consultaOon the latest drai of the CYRP
• T16 target and most regional tenements are included in areas under which mining acOviOes may be significantly restricted.
• The drai plan is open for consultaOon unOl March 2014. • In light of highly significant discovery at T16 and subsequent
confirmaOon of zircon rich HMS, Metallica is liaising with the QLD Gov and has lodged a formal submission on the CYRP during the consultaOon period
• Oresome may resume exploraOon drilling acOviOes on T16 aier the end of the 2014 wet season subject to the outcomes of the drai CYRP
• Urquhart Point HMS Project is not affected by the CYRP.
CYRP Submission
Metallica/Oresome’s submission: • Notes the CYRP’s potenOal to significantly or
considerably restrict economic and community development and mining on the Western Cape York
• Provides an alternaOve set of boundaries in Strategic Environmental Areas (SEA’s) where Oresome is directly affected – SEA #2, #21, #24
• Includes lejers of support from: • Cook Shire Council (represenOng local shire/community)
• Apudthama Land Trust (represenOng TradiOonal Owners) • Professor David Mulligan, Director of the Centre for Mined Land RehabilitaOon, James Cook University
Key Points/Summary
• Oresome has idenOfied the potenOal for a new mineral sands province and an industry in Cape York
• Ongoing evaluaOon and the development of the Urquhart Point project is planned for 2014
• Funding & development is significantly influenced by outcomes of to the Cape York Regional Plan (CYRP)
• Submissions will be made to the QLD Government seeking to ensure the potenOal for Zircon-‐Ti Mineral sand developments can be a valuable contributor to the local economy and community of Cape York to the benefit QLD
Statements and material contained in this presentaOon, parOcularly those regarding possible or assumed future performance, producOon levels or rates, mineral prices, resources or potenOal growth of Oresome Australia Pty Ltd, industry growth or other trend projecOons are, or maybe, forward looking statements.
Such statements relate to future events and expectaOons and, as such, involve known and unknown risks and uncertainOes. The Urquhart Point minerals and project is at the evaluaOon and feasibility stage and Regional ExploraOon projects are in the early exploraOon phase and although reasonable care has been taken to ensure that the facts stated in this presentaOon are accurate and or that the opinion expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the informaOon contained in this document or on its completeness.
Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors. Nothing in this presentaOon should be construed as either an offer to sell or a solicitaOon of an offer to buy or sell shares in any jurisdicOon.
This material is used for a company and project summary presentaOon only, for more detailed informaOon the reviewer should seek company informaOon as provided on the parent company website, www.metallicaminerals.com.au
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