Asx annoucement agm presentation 21.11.11
Transcript of Asx annoucement agm presentation 21.11.11
21st November 2011
ASX Announcement 4/66 Kings Park Road, West Perth WA 6005 PO Box 52, West Perth WA 6872
People I Science I The Essence of Exploration ASX Symbol: QRL [email protected] www.quintessentialresources.com.au ACN 149 278 759
ASX: QRL
Presentation to Shareholders : AGM Quintessential Resources Ltd (ASX:QRL, Quintessential) Managing Director, Paige McNeil, will be presenting the attached presentation to shareholders at the Annual General Meeting at 10am (WST) on 21st November 2011 at the Celtic Club, 48 Ord Street West Perth WA. For more information and to register to receive ASX announcements via email please visit: www.quintessentialresources.com.au Paige McNeil Managing Director +61 8 6278 3202 [email protected]
The Essence of Exploration
Annual General Meeting
21st November 2011
ASX : QRL
www.quintessentialresources.com.au
Quintessential Resources Ltd
Disclaimer Statements: This presentation has been prepared to provide information on Quintessential Resources Limited.
It is not intended as an offer, invitation solicitation or recommendation with respect to the purchase
or sale of any securities.
This presentation should not be relied upon as the sole representation of any matter that a
potential investor should consider in evaluating Quintessential, its affiliates or any of its directors,
agents, officers or employees do not make any representation or warranty, express or implied, as
to or endorsement of, the accuracy or completeness of any information, statements,
representations or forecasts contained in this presentation, and they do not accept any liability for
any statement made in, or omitted from, this presentation.
The information in this report that relates to Exploration Results and Mineral Resources is based
on information compiled by, or compiled under the supervision of Dr Salam Malagun - Member of
the Aust. Inst. of Geoscientists. Dr Malagun is the Technical Director of Quintessential Resources
Ltd and a full time employee of the Company. Dr Malagun has sufficient experience which is
relevant to the type of mineralisation and type of deposit under consideration to qualify as
Competent Person as defined in the 2004 Edition of the Australasian Code of Reporting
Exploration Results, Mineral Resources and Ore Resources. Dr Malagun consents to the inclusion
in the report of the matters based on the information in the form and context in which it appears.
Prospective investors should make their own independent evaluation of an investment in the
Company.
Quintessential is a dynamic junior mineral exploration company
focussed on acquiring, exploring and developing highly prospective
mineral properties in Papua New Guinea for World Class Porphyry
Copper and Gold deposits.
LISTED ON ASX: 10.8.11
ORDINARY SHARES: 30,000,000
IN ESCROW (24 months): 10,000,000
UNLISTED OPTIONS: 12,000,000
MARKET CAP @ $0.25: $10M
RANGE: $0.20 - $0.32
TOP 20: 51.63%
DIRECTORS HOLD: 37.40%
Corporate Structure
Experienced Management Team
Chairman Jay Stephenson MBA, FCPA, CMA, FCIS, MAICD
Over 20 years of business development including approximately
16 years as Director, Chief Financial Officer and Company Secretary for
various listed and unlisted entities. Jay has been involved in business
acquisitions, mergers, initial public offerings, capital raisings, as well as
managing all areas of finance for companies. Jay sits on the boards of
Doray Minerals, Drake Resources, Strategic Minerals and Aura Energy.
Managing Director Paige McNeil GradDipEd, ACIS, GAICD
& Company Secretary Over 12 years mineral exploration experience including the past 7 years as
Administration Manager and/Company Secretary for various Australian and
Canadian listed and unlisted companies predominantly operating in PNG,
including Frontier Resources Ltd. 2010 Recipient of WA Business News
40under40 award.
Exploration Director Dr. Salam Malagun PhD, MSc, MAIG
Over 25 years geological experience through out Papua New Guinea and
Queensland. Salam has worked on most of the major mineral deposits in
PNG and his PhD research contributed significantly to the discovery of the
Simberi Gold Deposit.
Management have strong PNG technical and logistical experience with proven corporate and exploration track records.
Tenement Portfolio
Strategic Land Position
Destination for Development
PNG is highly prospective for World Class Mines – Gold and Porphyry Copper-Gold
Porgera >26M ozs Au Barrick Gold
Kainantu 2M ozs Au Barrick Gold
Golpu Target &Wafi Deposit >27M ozs Au + 9 Mt Cu Newcrest / Harmony
Lihir >45M ozs Au Newcrest
Morobe 4M ozs Au +80M ozs Ag Newcrest / Harmony
Ok Tedi >16M ozs Au + 9Mt Cu Ok Tedi Mining
Grasberg >75M ozs Au + 26Mt Cu Freeport
Tolukuma 2M ozs Au Petromin
Panguna >16M ozs Au + 8 Mt Cu Rio Tinto
Frieda >18M ozs Au + 11 Mt Cu Xstrata / Highlands
Misima >4M ozs Au Placer (closed)
The Ramu lateritic nickel mine is under construction (total resources of 220 Mt of 0.98% Ni+ 0.1% Co)
OK Tedi Mining Ltd: >16Mozs Au + 9Mt Cu
Bismarck Gold and Porphyry Copper-Gold Mineralised Districts
320.5km2 granted 19/2/10.
57km highly prospective
strike length.
Located in Northwest
trending Papuan Fold belt,
about 100km northeast of
the giant Porgera Mine.
2 gold districts & 2 porphyry
gold - copper -molybdenum
districts containing twenty
(20) prospects.
Located on a major NE structural zone with aeromagnetic anomalies indicative
major hydrothermal systems.
Quintessential believes the Tekem Gold and Mal Porphyry Copper-Gold Districts
have excellent potential for the discovery of World Class gold and copper
deposits.
Mal Porphyry Copper District
Tekem Gold District
Giwi Porphyry Copper District
M'Sende Gold District
Bismarck Gold and Porphyry Copper-Gold Mineralised Districts
Exploration Activity – 4 months Exploration Strategy
Focus is on advancing the Tekem Gold District
for World Class epithermal gold and porphyry
copper-gold deposits via an initial 5000m
drilling program operated with Company owned
diamond drilling rigs
Aggressively explore for World Class porphyry
copper-gold-silver-molybdenum deposits at the
Irak, Mal and Giwi Prospects by completing
three grid based 3D-IP geophysical surveys to
determine drilling targets for 2012
Establish road access to the Bismarck
tenement by completing a track to Tekem
(stage 1) and then to Irak and Mal (stage 2)
Blue Sky: Additional geographic focus in PNG
via Exploration Licence Applications
Achievements
Company owned rigs and supporting heavy
equipment purchased and received in country.
Diamond drilling rigs have been commissioned
and the drilling program prepared to target the
geophysical anomalies via:
Resource Delineation Drilling
Depth Extension drilling
Geophysical and geochemical programs
completed at:
Irak Prospect
Mal Prospect
Giwi Prospect
Landowner negotiations completed and stage 1
of the dozer track has commenced to Tekem
2 EL Applications in Milne Bay are pending
ministerial granting. 2 additional tenements were
applied for in New Britain (post IPO)
Focus: Tekem Gold District
5000m Drilling Program
A distinct NW oriented magnetic low is obvious through the Tekem Gold District.
“Lows” represent intense hydrothermal activity and possible mineralised zones.
A 3D-IP geophysical survey was completed in April and demonstrated a large NW trending and plunging conductivity
anomaly sitting astride a very intense and large chargeability anomaly.
The conductivity zone is ~1,000m long, 250m wide and 200m thick. The chargeability anomaly is more than 1,600m
long at depth. This data is invaluable in initial drill targeting, plus deeper and along strike resource extension drilling.
Existing drill holes containing the gold Inferred Resource are shown and they barely touch the conductivity zone,
suggesting it is untested. The conductivity may represent semi massive copper sulphides.
Three Dimensional Induced Polarisation (3D-IP) (Conductivity)
Tekem Gold District
Mineralisation/Deposit
Model
The Wafi – Golpu gold-copper
deposits are the models used for the
Tekem Gold District.
Both districts have major gold-
copper systems associated with a
diatreme, multiple mineralised
intrusives and are significant
topographic highs.
Tekem has a major geophysical
anomaly at shallow to moderate
depths that could represent
significant copper.
Awale has a district „donut‟ copper in
soil anomaly 300m in diameter which
is the same diameter as the Golpu
intrusive.
Diatreme
Tekem
Awale
Wafi -Golpu &Tekem
Gold District
Comparative Schematic
Sections
Simular geological circumstances
exist as a diatreme plus copper
and gold mineralised intrusives in
receptive host rocks have been
created.
Golpu has a 300m diameter (like
Awale) and contains 4.8Mt Copper
and 8.8Moz Gold.
Harmony / Newcrest's deposit
took 20 years to show its potential
with deeper drilling.
Quintessential plan to
systematically drill deeper to test
the depth extension of the
mineralisation.
Mineralised Model
Copper - Gold
EL 1727 – Bismarck
Long Section : Tekem Historic Drill Holes
Carpenter Pacific
1994 drilled 5 Scout Holes
High grade zone
2.25m of 21.3g/t gold from
40m
From surface
mineralisation
25.5m of 2.1g/t gold
incl. 2.0m of 16.0g/t
gold
Broad zones of low-grade
gold
80m of 1.5g/t gold
JORC Compliant Inferred Resource
Cut-off grade (g/t Au) Tonnes Grade
(g/t gold) Approximate Total
Ounces Gold
Zone 1 0.5 526,000 1.52 25,700
1.0 350,000 1.93 21,700
Zone 2 0.5 272,000 1.79 15,650
1.0 187,000 2.28 13,700
Total 0.5 798,000 1.61 41,400
1.0 536,000 2.05 35,400
Focus: Irak & Mal Porphyry Copper-Gold Prospects
2012 Drilling Program
The aeromagnetics (TMI) clearly show the Mal District as a typical porphyry copper signature
in this environment with a strong positive on the northern side and a corresponding negative
on the southern side.
The Irak & Mal region has strongly anomalous copper, gold and silver mineralisation in rocks, soils and
creeks over a large area, with nine occurrences that have never been drilled.
Grid based 3D-IP and soil geochemistry programs have been completed to assist in discriminating
additional drilling targets.
Irak & Mal Prospects : Porphyry Copper-Gold-Molybdenum
Irak Prospect : Porphyry Copper-Gold
3D-IP Geophysical Survey
Irak Prospect Geochemical Results
High grade maiden assay results from the
Irak Prospect were reported including:
15m of 1.38% Cu + 17g/t Ag + 170 ppm Mo
including:
2m of 4.69% Cu + 47g/t Ag + 219 ppm Mo
7m of 1.88% Cu + 23g/t Ag + 158 ppm Mo
2m of 2.76% Cu + 31g/t Ag + 228 ppm Mo
18m of 0.53% Cu + 10 g/t Ag + 48 ppm Mo
including:
2m of 2.64% Cu + 35g/t Ag + 34 ppm Mo
Data from the 3D-IP geophysical program
was received 18.11.11 and is currently being
interpreted and will be released forthwith.
Mal Porphyry Copper-Gold District
Interpreted Structures on SRTM Topographic Image
3D-IP Geophysical Surveys Completed in 2011
Giwi Porphyry Copper-Gold District
3D-IP Geophysical Surveys
Diamond Drilling
2 x diamond drill rigs + supporting equipment have been received in country.
The rigs have been commissioned and mobilisation to site has commenced.
Cortech engineer commissioning the track mounted
DSC800C QRL employee taking inventory of drilling rods
CSD500C in foreground with company Hilux in background
EL1727 terrain is mountainous with deeply incised streams,
moderate to steep slopes and elevations from 900 to 2100m.
Mostly tropical rainforest except for patches of grassland
lower in the river valleys.
Historically access is via fixed wing aircraft to several airstrips
in the region or by helicopter. However road access is
currently underway.
The road from Mt Hagen terminates at Kompiam, about 10km
south of the Tekem Prospect. This road is being continued to
allow access to Tekem via track based vehicles. Stage 2 of
this project will extend the access track to the Irak and Mal
Prospects.
Mt Hagen has highway access to the port cities of Lae and
Madang and has been established as the Company‟s
logistical base.
Location & Infrastructure
Image showing crawler with crane being utilised to
unpack core trays from the container
HINO tray back truck Back up Generator Bull dozer will be used to cut the track to site
Tekem Camp Site
Employees taking inventory of supplies
Tekem Exploration Camp : West Wing under construction
Tekem Geologists & Drillers Quarters
QRL Mechanic connecting hoses on rig
Image showing diamond drill rig CSD500C in the foreground, track mounted (large) diamond drill rig in the middle-ground and crawler
with crane enabling the unpacking of drilling consumables from containers in the background in the yard at Mt Hagen.
Proposed Access Track
Our People : Q Team Quintessential have welcomed the interest of
and engaged additional geologists and field
technicians who are experienced explorers in
PNG. Four experienced diamond drillers are
on site to commence the Tekem drilling
program and have committed to drilling
through Christmas.
The Company also engages teams of
landowners to construct basic field
accommodation and assist in exploration
Landowners are working in co-operation with
the Company.
Blue Sky ELA‟s in Milne Bay
Blue Sky ELA‟s in New Britain
Quintessential Resources Ltd
Highly prospective, drill ready projects in arguably the most prospective
and under explored geological address in Papua New Guinea Highlands.
Gold and Porphyry Copper-Gold-Molybdenum focus.
Experienced management team with a proven track record for cost
effective exploration in PNG.
Strategic Land Holdings with no known environmental or social
impediments.
Company owned exploration equipment.
Additional geographic focus in Milne Bay and New Britain with 4
exploration license applications (ELA‟s).