Corporate Presentation - April 2019 - Veta Resources
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Corporate Presentation April 2019
Disclaimer
This presentation (in this projected form and as verbally presented) (Presentation) is provided on the basis that neither Veta Resources
Inc. (Veta), nor its officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisors make any
representation or warranty (express or implied) as to the origin, validity, accuracy, reliability, relevance, currency or completeness of the
material contained in the Presentation and no responsibility is taken for any errors or omissions. Nothing contained in the Presentation is,
or may be relied upon as, a promise, representation or warranty, whether as to the past or the future. Veta excludes all warranties
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(including that arising from negligence) arising out of the Presentation (or any accompanying or other information) whatsoever, nor by
reason of any reliance upon it. Veta accepts no responsibility to update any person regarding any inaccuracy, omission or change in
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Statements relating to reserve and resource estimates are expressions of judgment, based on knowledge and experience and may
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and will be taken to have made, its own investigation, assessment and analysis of the information in this Presentation and other matters
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be an offer for subscription, invitation or recommendation with respect to the shares in any jurisdiction and neither this document nor its
contents shall form the basis of any contract or commitment Veta owns the copyright in this Presentation.
2
Management
Brian Jennings, BSc. CPA – Director, President and CEO
• Extensive experience in executive positions with companies in multiple industries
• CFO and Director of Soltoro Ltd acquired by Agnico Eagle June 2015 / Director Pine Point Mining
acquired by Osisko Metals December 2017
• Formerly Vice-President Corporate Restructuring at Ernst and Young
• Chartered Accountant combined with Bachelor of Science degree (Geology)
Michael Corey P.Geo – Director, Vice President Exploration
• 35 years of global mineral exploration experience involved in projects from discovery to feasibility
• Former Country Manager Indonesia and Exploration Manager South America for MMG Ltd.
• Senior Mining Analyst – Tollcross Securities
• Senior Geologist – Underground Exploration, Grasberg, Indonesia, Freeport-McMoRan
• Registered Professional Geoscientist APGO
Patrick Burns – Advisory Board and Technical Consultant
• 35 years managing mineral exploration programs in Canada, and South and Central America
• First project manager of the exploration team which discovered the Escondida copper porphyry project
in Chile.
• Integral in discovery of San Cristobal epithermal gold deposit in Chile, and the Sustut copper deposit in
British Columbia
• Initiated first comprehensive regional exploration program for Au-Ag deposits in the Southern Chile
Coastal Belt in mid-1990’s.
3
Independent Directors
Steve McIntyre – Director
• 30 years of experience in the mining and mineral exploration business – 10 years with Noranda and 20
years as an officer and director of several junior exploration companies
• Former Chairman and Director of Trelawney Mining and Exploration Inc. – acquired by IAMGOLD in
June 2012 for $608 million
Chris Irwin – Director
• Managing partner of Irwin Lowy LLP specializing in securities and corporate/commercial law in the
resource sector
• Former director of Trelawney Mining and Exploration Inc. – acquired by IAMGOLD in June 2012 for
$608 million / former director of Southern Star Resources Inc., which was formerly listed on the TSX
prior to becoming Gold Eagle Mines Ltd. and being taken over by Goldcorp Inc. in a $1.5 billion
transaction
Albert Contardi – Director
• 15 years of legal, investment and capital markets experience advising a broad range of clients,
including both senior and junior issuers, underwriters, agents, selling security holders, entrepreneurs
and private corporations
• Former Vice President of Corporate Finance and Compliance at an exempt market dealer, where his
responsibilities included advising on public and private equity and debt financings, public listings,
mergers and acquisitions and other corporate transactions
4
Property Location – Chile
JOY Properties SANTIAGO
• 125 km south west of Yamana’s Minera
Yamana
Florida operating mine Minera
• 200 km southwest of Santiago Florida Mine
• 56 km2 under option and 59 km2 100%
owned
• High grade polymetallic veins
JOY
Properties
Roy Property
• 105 km south of the JOY Project
• 100% owned Fresnillo
• 18 km2 Claims 2018 LOS
• Porphyry Copper Opportunity ANDES
TALCA
Quilvo Property ROY
Property
• 140 km south of the JOY Project
• 100% owned
• 16 km2 Quilvo
Property
• High Sulphidation Au Opportunity
Veta Properties
3rd Party Properties
5
Year Round Exploration
• Altitude: maximum 500 meters
• Access: excellent – available roads
provide direct access
• Temperature: 4 Celsius winter, 30 Celsius
summer
• Rainfall: 4 mm per month summer, 146 mm
per month winter. No snowfall
6
Dominant Land Position – 115 km2
• JOY West: Veta has earned 85%
JOY
/ US $100K December 2019 earns West
100% / 1% NSR buyable for
US $750K first 4 years and US $1 JOY
East
million thereafter
• JOY East: combined option La Negrita
Mine
payments of US $570K by
February 2022 earns 85% / 15%
carried to commencement of
feasibility / 15% may be converted Veta
100%
to 2% NSR buyable for US $2 Owned
million
• Veta: 100% owned properties 3rd Party
Owned
• La Negrita Mine: 3rd Party
owned (10tpd) with high-grade
veins that reportedly average 12g/t
Au and ~100g/t Ag with up to 40
g/t Au
7
Polymetallic Quartz Veins
• Extensive system of
polymetallic mineralized
quartz veins occur
proximal to the granite-
sediment contact
• Veins are structurally
Granite
controlled with individual
veins up to 5 m wide
along 25 km contact
• Electrum identified in
narrow veins
• Vein characteristics
similar to Yamana
Minera Florida Mine 125 Sediment
km to the north
• No detailed exploration
or previous drilling
8
JOY East – Phase I Sampling
Surface Rock Sampling:
• 59 samples
• Up to: 48.69 g/t Au, 629
g/t Ag, 3% Zn, 1.7% Pb,
and 0.26% Cu
• Average: 8 g/t Au, 90 g/t
Ag, 1,200 ppm Zn, 962
ppm Pb, 198 ppm Cu,
and 9.5 g/t AuEq
• Visible electrum/gold
observed in quartz vein in
granite. Assay of – 13kg/t
Au and 2,680 g/t Ag
• Three principal vein
systems identified -
inferred combined strike
length of 3.2 km
9
JOY West – Phase I Sampling
Surface Rock Sampling:
• 13 surface rock samples Vein System
10 km Strike
• Up to: 9 g/t Au, 16.8 g/t Ag Length
• Average: 2.65 g/t Au, 5 g/t La Negrita Mine
Ag
• Vein system extends 10 km
to northwest
10Phase II Program - Regional Sampling and Mapping
Phase II Surface Rock
Sampling
• 353 surface rock samples
Priority Target Area - initial 2,600m
• 55 3.0 g/t AuEq drill program planned for high-grade
• 96 0.5 g/t AuEq vein targets in Q2 2019
• 25km total combined
length of vein systems
Priority Target
• JOY East and West Area
• Initial geophysics and
trenching complete 25km of vein
systems
• Drilling 2,600m - Q2 2019
4 Secondary Target Areas
Identified
• 0.5 g/t AuEq (and
associated Ba, Sb)
11 11JOY Property Magnetic Survey Area
RTP 1st Vertical Derivative Image Interpreted Fault
Trend of Polymetallic
La Negrita Quartz Vein Systems
• Drone Magnetic Survey – 101 line km survey
at 50m line spacing over area of planned
initial drilling
• Survey identified additional structures
prospective for polymetallic veins
• High Mag zones occur in sediments proximal
to the granite contact
• Anomalous gossan boulders observed with
up to 400 ppm Cu and 800 ppm Zn, Pb
Potential for Sediment
Hosted Mineralization indicating potential for sediment-hosted
mineralization
12JOY Property: 4 Priority Drill Targets
2
3 4
1
Initial 2,600m drill program planned to test 4
priority high-grade vein targets in Q2 2019
Target Area
13JOY Property: Priority Drill Target 1
• Area of multiple high grade quartz
veins over a zone 600 m along
strike La Negrita
Mine - 10 tpd
• Surface samples of vein material
returned assays up to: 8.53 g/t Au,
11.2 g/t Ag & 7.56 g/t Au, 16.8 g/t Ag
• Trenches completed over 300m of
vein strike length. Multiple veins
identified within 75m wide zone of
altered granite
• Trench sampling returned: 6.92g/t Au
over 1m; 2.88g/t over 2m; 1.42g/t Au
over 12m (incl 3.53g/t Au over 3m)
• La Negrita Mine 150m north of
property boundary (10tpd) with high-
grade veins that reportedly average
12g/t Au and ~100g/t Ag with up to 40
g/t Au
• Drill program: 6 hole / 900m initial
program to test veins over 300m
14JOY Property: Priority Drill Target 2
• Area of multiple high-grade quartz
veins over zone 100m wide x 250m
in length
• Surface samples of vein material Electrum in 15cm
wide quartz vein
returned assays up to:
• 13kg Au, 63 oz Ag as electrum
from 15cm wide quartz vein
• 26.76 g/t Au, 31.8g/t Ag from vein
material 250m along strike from
electrum sample
• Antonia Audit: underground
exploration by property owner
intersected 21g/t Au, 70g/t Ag from
1.5m wide vein
• Trench sampling returned 6.5g/t Au Antonia Adit
21g/t Au, 70g/t
over 5m, incl. 21.85 g/t Au, 25g/t Ag Ag over 1.5m
over 1m
• Drill program: 5 hole / 750m initial
program to test veins over 200m
15JOY Property: Priority Drill Target 3
• Area of multiple high-grade
quartz veins over 200m wide
zone
• Surface assays up to 48g/t Au
& 362 g/t Ag from vein
material with 250m strike
length at surface.
• Drill Program 4 hole / 600m
initial program to test veins
16JOY Property: Priority Drill Target 4
• Area of multiple high-grade
quartz veins over area 50m
wide and 150 in length
• Surface samples of vein
material returned assays up to
12.55g/t Au, 629g/t Ag
• Trench channel sampling
returned 2.72g/t Au, 204g/t Ag
from 1m wide vein.
• Drill Program: 3 hole / 350m
initial program to test veins
over 100m of strike length
17Southern Chile – Project Generation
WHY?
• Highly prospective region with little previous exploration
• Proven +1 Moz Au potential
• In-depth technical knowledge of the Southern Chile Coastal Range
• Excellent access & ability to work year round
• Stable & investor-friendly mining jurisdiction with supportive local communities
• Mexican state company Fresnillo has recently staked 318km2 about 15km
southeast of Veta JOY properties
HOW?
• Access to a regional exploration database compiled in 1995-1996
• Aggressive field evaluation of prioritized properties
• University of Chile providing additional technical support
RESULTS TO DATE
• Roy – Porphyry Cu Opportunity – staked 2018 by Veta 100%
• Quilvo – High Sulphidation Au Opportunity – staked 2018 by Veta 100%
18
18 18Accomplishments / Business Plan
2018
Exploration Tasks Status
Consolidate the JOY Region Substantially Complete
Negotiate Preliminary Access Agreements Complete
Phase I and II Mapping and Sampling Complete
NI 43-101 Technical Report Complete
Trenching Complete
Geophysical Survey Complete
Identify Initial Drill Targets Complete
Project Generation Ongoing
Corporate Tasks
Financing July 2018 - $1 million @ $0.15 per share Complete
Finalize Chilean Corporate Structure Complete
Finalize JOY East and West Option Agreements Complete
Assemble Field and Support Staff in Chile Complete
Listing CSE Ongoing
2019
Business Plan Status
Financing Ongoing
Initial Drill Program Q2
Continue Mapping, Sampling, and Trenching Ongoing
Project Generation Southern Chile Ongoing
19 19Corporate
Financial Position
Working Capital $150,000
Share Structure
Issued and Outstanding 17,186,320
Options $0.15 – October 11, 2023 1,550,000
Warrants $2.00 - $2.80 three years from listing 980,580
Warrants $0.15 – July 11, 2020 305,205
Fully Diluted 20,022,100
20 20Exceptional Investment Opportunity
• In-depth Technical Knowledge of the Belt: combined +30 years of in-
house exploration experience in South America
• Friendly Mining Jurisdiction: Chile is one of the most mining friendly
regions in the world
• Demonstrated +1Moz Potential: Yamana’s Minera Florida mine (historic
production 2.5 million oz Au) demonstrates the proof of concept that
significant deposits occur in the Chilean Coastal Range
• High Grade Gold – Silver: The JOY Properties host an extensive system
of polymetallic mineralized quartz veins with rare visible gold / electrum
• Dominant Land Position: The Joy Project consists of 115 km2.
Anomolous values in quartz veins have been mapped and sampled along
25 km strike length of a granite contact with sediments
• New Discovery Potential: the JOY Properties have had no previous
detailed exploration or drilling – exceptional investment upside potential
• Year Round Exploration: Maximum altitude of 500 m, no snowfall, and
excellent access provide for year round cost-effective exploration
21
21 21Appendix
Option Agreements
JOY West
US $40,000 August 2018 (Paid)
US $30,000 December 2018 (Paid)
US $30,000 January 2019 (Paid) Earns 85%
US $100,000 December 2019 Earns 100%
1% NSR – buyable for US $750K for 4 years / US $1 million thereafter
JOY East
US $30,000 August 2018 (Paid)
US $120,000 August 2019
US $100,000 August 2020
US $100,000 August 2021
US $250,000 August 2022 Earns 85%
15% carried until commencement of feasibility and converted to 2% NSR if no participation.
2% NSR buyable for $2 million, or $500K per year over four years.
23Exploration Comparable: Yamana Minera Florida
• Proof of Concept that Mesozoic
rocks of the Southern Chile Coastal
Range host significant Au-Ag Yamana Miner Florida Mineral Reserves and Resources1
polymetallic mineralization Tonnes Grade Contained oz
• Structurally-controlled Au-rich (000’s) (g/t) (000’s)
polymetallic quartz vein/breccia Proven and Probable
systems with discrete zones of high- Gold 3,202 3.56 366
grade Au (60g/t), Ag (300 g/t) & Zn
Silver 3,202 23.2 2,393
(5%)
• Veins size: 2.5 Moz of Au Zinc 4,897 1.77% 197 million lbs
• Production guidance: 85,000 oz Au
Inferred
in 2019 Gold 6,445 5.01 1,038
• Production capacity: 2,300 tonnes Silber 6,445 29.4 6,093
per day plant / floatation, leaching Zinc 6,445 1.32% 187 million lbs
and electrowinning processes (1) Source Yamana.
• Ongoing exploration / discovery
24Roy Property: Porphyry Cu Opportunity
• Exploration License – 100% owned – 18km2
• Previous exploration by Arauco Resources in
1993 identified a 2km2 area of highly
anomalous Mo (>100ppm) and Cu
(>400ppm) within siliceous & argillic altered
rocks
• Initial surface sampling in Nov 2017 by Veta
returned up to 98ppm Mo & 466 ppm Cu
• Historical and current sampling characteristic
of a porphyry-related lithocap
• No detailed exploration, geophysics or drilling
completed
• Exploration target similar to the Andacollo Arauco 1993 sample
porphyry Cu-Au deposit hosted within >400ppm Cu
Arauco 1993 sample
Mesozoic rocks north of Santiago. Initial >100ppm Mo
resource of ~300Mt at 0.7% Cu, 0.25g/t Au.
Epithermal veins, breccia & manto’s occur up
to 4km from the main porphyry. Grades up to
8g/t Au are contained within dominate NW-
trending structures
25 25Quilvo Property: High Sulphidation Au Opportunity
• Exploration License – 100%
owned – 16km2
• Claims cover area of previous
Cyprus-Anvil trench samples
(1996) report up to 12g/t Au from
quartz vein/breccias
• No detailed exploration,
geophysics or drilling completed
• Property occurs within inferred
southern extension of Mesozoic-
aged volcanic and intrusive rocks
• Initial Nov 2017 site visit 3km zone of advanced argillic alteration
confirmed extensive high-
sulphidation type alteration system
• Exploration target is a high-
sulphidation Au-Ag system such
as El Indio and polymetallic Au-Ag
veins/breccia similar to Minera
Florida
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