RIU SYDNEY 2019 - Spectrum Metals Limited
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RIU SYDNEY 2019
Disclaimer
Forward Looking Statements
Statements regarding Spectrum’s plans with respect to its mineral properties and programmes
are forward-looking statements. There can be no assurance that Spectrum’s plans for
development of its mineral properties will proceed as currently expected. There can also be no
assurance that Spectrum will be able to confirm the presence of additional mineral
resources/reserves, that any mineralisation will prove to be economic or that a mine will
successfully be developed on any of Spectrum’s mineral properties. The performance of
Spectrum may be influenced by a number of factors which are outside the control of the
Company and its Directors, staff and contractors.
Competent Person Statement
The information in this report that relates to Data and Exploration Results is based on information
compiled and reviewed by Mr John Downing, a Competent Person who is a Member of the
Australian Institute of Geoscientists (MAIG) and a consultant to Spectrum. Mr Downing has
sufficient experience which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he has undertaken to qualify as a Competent Person as
defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results,
Mineral Resources and Ore Reserves’. John Downing consents to the inclusion in the report of
the matters based on his information in the form and context in which it appears.
2
Corporate Snapshot
Capital Structure 12 Month Share Price
Current Shares On Issue (m) 1,264
Options (m) 72.5
Fully Diluted (m) 1,336
Current Share Price (A$) 0.019
Market Capitalisation (A$m) 24.0
Cash (31 Mar, 2019) * (A$m) 0.8
Debt (A$m) 0.0
EV (A$m) 23.8
* Raised $5.0m post Mar Qtr
Major Shareholders % Board and management
Patina Resources Pty Ltd 10.7 Alexander Hewlett Chairman
A Barton & Assocs 7.1 Paul Adams Managing Director
Rock the Polo & Assocs 2.9 James Croser Technical Director
Leonid Charuckyj 2.1 Nader El Sayed Non-Executive Director
Plateaux Resources Pty Ltd 2.1
Top 40 45.8
3
Spectrum Overview
Spectrum’s Strategy
• Gold in WA
• Brown-fields assets
• Focus on high grade
• Under-drilled and open mineralisation
• Rapid discovery
• Proximity to 3rd party mills
• Low hurdles to start-up
• Expertise in high grade mining
• Aim to be a producer
4
SPX Primary Asset - Penny West, WA
Potted history of Penny West….
• 1989/90 Eastmet granted title and find Penny
West by soil sampling
• 1991 / 92 Eastmet mine Penny West open pit
• One of the highest grade open pits ever
mined in WA from 121,000 tonnes at 21.8 g/t
for 85,000 ozs (Holden & Hoyland, 2004)
• Successive owners of Youanmi – GMA(‘93),
AMI/QMM (‘98), Aquila (‘00), Goldcrest (‘02),
Ventour (’03), Apex (‘07), Private (‘12)
• SPX completed acquisition mid-December
2018, maiden drill program mid-February
2019, discovered Penny North 5th March 2019,
Phase II drilling started 4th May 2019
5
Penny West Gold Project
SPX Maiden RC program (Feb-Mar)
• 4,500m RC designed
• 24 holes, a mixture of infill, extensions
and new targets
• Test along strike and down plunge of high
grade intersections
• Three targets:
– Penny West (18 holes)
– Northern Extension (3 Holes)
– Magenta (3 Holes)
• Potential for resource growth at all three
targets
* See Spectrum’s ASX release dated 20 February, 2019
6
Penny West Gold Project
Penny North Discovery
• First hole assayed: 8m @ 23 g/t
• Changed drilling program
immediately
• Follow up hole: 8m @ 24g/t
• Others include 6m @ 46g/t and
4m @ 105 g/t
• All 20 holes hit mineralisation
• Similar mineralogy to Penny
West lode
• Strikes north-south
• Dips east
• Open in all directions
* See Spectrum’s ASX release dated 30 April 2019
7
Penny West Gold Project
Deepest hole on
southern-most line – 5m
@ 28.9 g/t
Very thick mineralised
interval (31m) seems
Northern Extension different to previous
intersections
New focus for drilling
Open to the south and
down dip / plunge
Northern holes still to be
drilled
Long Section through Penny West lode with SPX drilling pierce points
* See Spectrum’s ASX release dated 3 April, 2019
8
Penny West and Penny North
NW fault
Penny West Open Pit
8m @ 23.8g/t
Discovery intersection
5m @ 28.9g/t
Looking WNW
9
Penny West Gold Project
* See Spectrum’s ASX released dated 30 April, 2019
10Penny West Gold Project
Penny West over the next 6-9 months
1. Complete Phase II RC drilling program
currently 11,000m
2. Continue to drill out Penny North
3. Undertake follow up program around new
discovery under the south end of Penny
West Pit & Magenta
4. Follow up geophysics over 3km strike
length of Penny West Shear
5. Resource estimate
11First Hit Gold Project
* See Spectrum’s ASX release 29 January 2019
12Pathway to Development
• Leverage from historic high-grade deposits
• Multiple high-grade intersections beneath mines
• Under drilled with potential to discover further high grade ounces
• Early high grade discovery at Penny North
• Aggressive drilling campaigns give high news flow
• Mineralisation open in all directions
• Multiple toll milling options nearby
• Mining expertise within the company
• Potential for low CAPEX project development
• Pathway to production and cashflow
13SPX Contact: Paul Adams – Managing Director Spectrum Metals Ltd E:paul@spectrummetals.com.au M:+61 431 931 942
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