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Production, cash-flow and growth in Brazil Unlocking the potential of an emerging high-grade gold camp
Mark Papendieck, Managing Director &
Marcelo J de Carvalho, VP Brazil & GM Operations
Simexmin, 15-18May 2016
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Disclaimer, Forward-Looking Statements and Competent Person’s Statement
► No JORC Mineral Resources or Reserves have been defined at the Company's Projects and it is uncertain if future work will result in the definition of JORC Mineral Resources or Reserves. As such, the Company makes no representations about the grade of any potential mineralised rock that may be delivered to a mill for processing, nor can the Company make any forecasts about the potential production of ounces of gold. This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. To the fullest extent permitted by law, Orinoco Gold Limited does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Orinoco Gold Limited . Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation subject to any continuing obligations under applicable law, Orinoco Gold Limited do not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation only changes in events, conditions or circumstances on which any such forward looking statement is based. The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Klaus Petersen who is a member of the Australasian Institute of Mining and Metallurgy and CREA. Dr Klaus Petersen is an employee of Orinoco Gold Limited and has sufficient experience, which is relevant to the style of mineralisation and type of deposits 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. Dr Klaus Petersen consents to the inclusion in this presentation of the matters based on the information in the form and context in which it appears. It is common practice for a company to comment on and discuss its exploration in terms of target size and type. The information in this presentation relating to exploration targets should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. Hence the terms Resource(s) or Reserve(s) have not been used in this context in this presentation. The potential quantity and grade of resource targets are conceptual in nature since there has been insufficient work completed to define them beyond exploration targets and that it is uncertain if further exploration will result in the determination of a Mineral Resource or Ore Reserve. There is information in this presentation relating to previous exploration results. Full results are included in ASX Releases and are available to view on the Company’s website www.orinocogold.com
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Brazil’s New High-Grade Gold Producer
Maiden production imminent
► Cornerstone asset – 70%-owned Cascavel Gold Mine, Brazil
► Final construction underway, commissioning June, first gold July
► Potential to become one of the world’s highest grade gold mines
► Simple gravity processing = low costs, strong margins
► Experienced team with extensive Brazilian experience
► Expertise in coarse, free-gold deposits
► Outstanding growth potential and exploration upside
► Potential for multiple production centres
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Corporate Snapshot
Our goal is to deliver strong returns for our shareholders and benefits for all of our key stakeholders by building a significant high-grade gold production business in central Brazil, leveraging off the growing cash-flows generated by the Cascavel gold mine.
ASX Code OGX
Shares on Issue 266.6M
Options on Issue
Share Price 18c
Market Capitalisation ~A$48M
Cash ~A$3.7m
Debt and Secured Hedging Nil (Forward gold sale 20% production for 3 years)
Board of Directors
John Hannaford Non-Executive Chairman
Mark Papendieck Managing Director
Ian Finch Non-Executive Director
Brian Thomas Non-Executive Director
Jonathon Challis Non-Executive Director
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Mark Papendieck – Managing Director
► 10 years working in Brazil, previously co-founder/MD of ASX-listed Centaurus Metals
Dr Klaus Petersen – President, Brazil
► Brazilian geologist +25 years experience, gold specialist
Dr Marcelo de Carvalho – VP Brazil Operations & Chief Geologist
► Brazilian geologist, previously head of Generative Exploration for TSX-listed Yamana Gold
Tim Spencer – Chief Financial Officer ► 20 years’ experience in precious metals finance/treasury roles with gold mining companies
and gold refineries
Jim Porter – Mining Consultant
► Ex-Manager of AngloGold’s Western Deep Levels (Witwatersrand)
Noel O’Brien – Process Consultant
► Ex-Managing Director of SNC Lavalin South Africa
The Team to Deliver
Key management with extensive Brazilian experience
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Cascavel Gold Mine Countdown to gold production
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Cascavel Gold Mine Countdown to gold production
Mina Cascavel
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Ouro Alto Teor e Metais Base
► Cascavel (70%) – Nova mina de ouro de alto teor, produção em curso, excelente potencial de exploração near mine
► Sertão (OGX:100%) – Mina de Ouro de alto teor produziu de 2004 a 2007 248K Oz@ 29g/ton, mineralização aberta ao longo do plunge, excelente potencial de exploração near mine
► Tinteiro Target – Ag/Cu/Co/W alto teor
► Faina Goldfields Project (70%) – Potencial para milhões de onças de Au, IOCG, e metais base
Geologia Regional
► Similaridades no posicionamento tectônico-estratigráfico
► Entre os depósitos do Maciço de Goiás
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Anglo Gold
4M oz @ 7.76g/t
Yamana
1.4M oz @ 4.1g/t Yamana
300koz(?)oz
Troy
257,000 oz @ 24.95g/t
Orinoco
Cascavel target
Orinoco
Eliseu target
Orinoco
Tinteiro target : Depósitos de
Au, Cu, Ag, W relacionados a
rochas intrusivas tardas –
ocorrem em todas as
unidades
Old miners
?oz
Tectônico e Estratigráfico l
Posicionamento
Tectônico e
Estratigráfico
Posicionamento Tectônico e Estratigráfico
Geologia e Mineralizações Elementos Importantes
• Ciclos sedimentares compostos por base silissiclástica e associações vulcânicas
(conglomerados, grauvacas, quartzitos e pelitos) e topo caracterizado por
sedimentação química (Bifs, cherts e dolomitos)
• Unidades estratigráficas separadas por zonas de cisalhamento reversas e de
baixo ângulo (empurrões)
• Vários falhamentos de diferentes idades (Paleo P/ Brasililianos e Pós
Brasilianos) e regimes (dúcteis e rúpteis) cortam as unidades do GB
• Algumas dessas estruturas são profundas e condutos de rochas intrusivas
tardias que variam de alcalinas máficas a granodioríticas e alterações
hidrotermais associadas;
•Essas rochas intrusivas, indeformadas, ocorrem nas bordas e dentro da pilha de
rochas do GB
• Alteração hidrotermal intensa e disseminada: sericítica, clorítica, silicificação,
hematítica, magnetítica, qz+kf, carbonática, tourmalinização.
•Alterações associadas a brechas hematíticas, veios ou corpos stratabound
Principais elementos associados às mineralizações – sistema extenso e aberto
Depósitos– Idades e Ciclos Distintos- Retrabalhamento e reciclagem – múltiplos eventos mineralizantes
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Mais velho (Archaean/Paleoproterozoic)
•Mineralização de Au associadas a estruturas de baixo ângulo e
veios de quartzo + carbonatos com halo de alteração estreito
composto por sericita, fuchsita e sulfetos (Py e AsPy); Ouro
Orogênico (Cascavel, Sertão)
• Mineralização de Au relacionadas a paleo-canais em
conglomerados e remobilizações tardias- Paleoplacer
Remobilizado (Eliseo, Sierra)
Mais jóvens (Paleoproterozoic? Neoproterozoic?
Cambrian?)
• Mineralizações de Au/Ag/Cu/Fe/W associadas a dolomitos
impuros hidrotermalizados. Associação: W e Cu. Carbonate
Replacement (Expressão distal de IOCG?)
• Sistema Polimetálico - Forte associação geoquímica entre Au,
Cu, Ni, Co, Ba, As, Ti, LREE, Mn, U, ± Ag); IOCG - Tinteiro e
várias outras ocorrências, associadas a toda a pilha de rochas.
Au ± As
Au+Cu+Ag+U+Fe
Cascavel e Sertão- Au Orogênico
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► Depósitos relacionados a veios de quartzo em zonas de cisalhamento - ouro livre
Eliseo – Au paleoplacer
Tinteiro:
Polimetálico -
IOCG
Sertão:
Orogênic
o
Cascavel
:
Orogênic
o
Mineralização de Au associadas a estruturas de baixo
ângulo, (empurrões) e veios de quartzo + carbonatos com
halo de alteração estreito composto por sericita, fuchsita e
sulfetos (Py e AsPy); Ouro Orogênico (Cascavel, Sertão)
Cascavel – 1740 - 2016
Cascavel – Geologia e Mineralização
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18
18
(~last 20m w/ vertical scale exaggeration)
Mesre Winze
Cascavel Winze
Cascavel – Controle Estrutural
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Lineação de intercessão = Orientação
dos shoots
Veio de Quartzo laminado com Sericita
Li // shoots
Sn-1
Veios
Sn
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Cascavel – Teor
Produção histórica - Mestre – teores +50g/t
Amostra de alto volume Mestre- 0.5 t @ 39.3 g/t Au
Amostra de alto volume Cuca- 2.7 tonnes at 27g/t Au
Amostra de alto volume Cascavel - 2.8t @ 24.1g/t Au
Amostra de Painel Cascavel - 15m @ 88g/t.
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Cascavel – Mina e Ore shoots
► Ore shoots orientados para WSW Segundo Li
► Confirmação da disposição dos shoots
► Devido efeito pepita, controle sendo realizado com amostragem de painéis (50 x 50 cm, contínuos)
► Amostra de batéia para resultados qualitativos imediatos
► Quassificação de teores:
Baixo Teor < 5g/ton
Médio 5 a 25 g/ton
Alto 25 a 100 g/ton
Super alto > 100 g/ton
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Potencial de Crescimento
► Imenso potencial de crescimento em raio de 3km do Cascavel – oportunidade de Brown Field
► Vários níveis venulados em falhas secundárias paralelas ao empurrão principal
► Essas falhas ocorrem por 20km ao lomgo de strike e já foram confirmadas 1,6km ao longo do mergulho
► Características geológicas semelhantes em todos os alvos
Controle Estrutural define novos alvos
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Mina Sertão
► Open pit (2003-2006) produziu 256koz @24.95g/t
► Localizada a 28km do Cascavel – Oportunidade de se tornar a segunda mina em operação em curto período
► Programa de sondagem preliminar 2015
• 0.5m @ 7.33g/t Au (STO_004: from 141.5-142.0m)
• 1.82m @ 13.55g/t Au (STO_005: from 130m)
• 0.65m @ 13.05g/t Au (STO_005: from 126.2m)
• 0.46m @ 21.40g/t Au (STO_005: from 131m)
• 0.5m @ 46.8g/t Au (STO_022: from 150.2m)
► Potencial de 950m ao longo do strike e 1.6km down-dip (aberto)
► 2m @ 18.7g/t Au (SRT001 de 541m de profundidade)
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Mina Sertão
Cross-section
Polimetálico Tardio – Tinteiro IOCG
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Au ± As
Au+Cu+Ag+U+Fe
► Brechas hematíticas e gossans mineralizados aflorantes
► Alteração ferruginosa em larga escala (+ alterações potassica/sericitica e calcica-sodica)
► Anomalias geoquímica (Au/Cu) e geofísica (Grav + Mag) coincidentes com cruzamentos de estruturas regionais
► Trends marmarcados perla associação Au + Cu + Fe + Ba + Co + V + U (ppm – não ppb)
► Sondagem ao longo das falhas, afastado do centro de alteração mostram altos teores de Au (+Cu)
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Polimetálico Tardio – Tinteiro IOCG
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Tinteiro – Intrusivas e Alterações
Sistema Tinteiro –Alteração e Introdução de Metais
17,6m@1263 ppm
Ag
2m@0,91 % Cu
4m@1137 ppm W
0,73m@ 4,8 ppm
Au
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Modelo mostra a camada de mármore, as
falhas regionais como condutos de fluidos e
possível fonte magmática, atestada pela
associação de elementos.
Sistema Tinteiro (Tardio) – Modelo
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Sistema Tinteiro (Tardio) – Modelo Regional
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Obrigado!
