Building Resource Partnerships To Unlock The Value Of...
Transcript of Building Resource Partnerships To Unlock The Value Of...
Speaker: Stephen Nano
President & CEO
Sprott Stansberry
Investment Conference
Booth 13, July 2015 TSX.V: MRZ
Building Resource Partnerships To Unlock The Value
Of Mirasol’s Project Bank
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Cautionary Statement
This presentation contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than
statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or
developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by the words “expects”, “plans” “anticipates”, “believes”, “intends”, “estimates”,
“projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Information inferred
from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking
statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the
Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that
could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration
successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance and actual results or developments may differ materially from those
projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s
management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in
the event that management’s beliefs, estimates or opinions, or other factors, should change.
This presentation may use the term “indicated resource”. The Company advises investors that although this term is recognized and required
by Canadian securities regulations (under National Instrument 43-101 “Standards of Disclosure for Mineral Projects”), the US Securities and
Exchange Commission does not recognize this term. Investors are cautioned not to assume that any part of or all of the mineral deposits in
these categories will ever be converted into reserves.
Stephen Nano, President and CEO for the Company and a “Qualified Person” under National Instrument 43-101, has reviewed and approved
the scientific and technical information in this presentation.
MIRASOL RESOURCES
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Mirasol – Why Invest?
• Well funded Approx. $22M CAD
• Conservative capital structure
• 44.2 million shares outstanding
• 47.8 million fully diluted (3.6 million options)
• Large “Mirasol Project Bank” Leverage for additional JV’s
• 10 Drill projects
• 6 Headline projects - large mineral systems, multiple drill targets
defined Big Company Targets
• Gorbea Gold Belt New Joint Venture, Strong Strategic Partner
• Intellectual capital project generation engine delivering new
opportunities to the “project pipeline”
Share ownership July 2015
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Mirasol Project Generator: Conserve Capital Structure
Reducing dilution
4 projects drilled
under JV ≈ 15,500m
to 2008
2009-10 Joaquin & Virginia
discoveries reported
Sa
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Silv
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• Discovery Increased the share price
• Discovery Reduced the cost of capital / decreased share dilution
• Discovery Delivered the opportunity for a liquidity event
Exploring since 2010 for discovery, with no shareholder dilution
Since December 2012
Exploring with zero
share dilution2004 2005 2006 2007 2009 2010 2011
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Mirasol: Innovation / Discovery / Wealth Creation
• Building a pipeline of quality new projects
• Leveraging strong JV’s from existing “Project Bank”
• Developing strategic partnerships with quality metal producers
• Shareholder wealth creation through discovery
Project Bank 1
Project Bank 2
Project Bank 3
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JV 1st earn in exploration spend JV cash payments to Mirasol
Project Bank Leverage Through JV for Drill Testing & Discovery
Project generation & target definition
Building 2nd Project Bank
Atlas Titan Claudia Curva Rubi etc.
2nd phase
JV Deals
Potential
New Discovery
Phase
Building 3rd Project Bank
Atacama – Puna Gen.
1st phase
JV Deals
Building 1st
Project Bank
Discovery Phase
Potential
for New JV
deals
Start of Drilling
Titan & Atlas
Joaquin & Virginia
Drill Discoveries
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Drill Discovery
Drilling
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Start of Drilling
Titan & Atlas
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Strong JV’s lead to Increased Drilling & Discovery2nd cycle of new JV deals commenced – upturn quantity of drilling
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Potential
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Start of Drilling
Titan & Atlas
Joaquin & Virginia
Drill Discovery
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Discovery Drives Up Share Price Even in Challenging market
Conditions
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Key Messages for Investors
• Mirasol is conserving its Capital Structure / exploring without share dilution
• Joint Ventures & drilling have driven discovery and share price appreciation
for Mirasol in the past
• The “Project Bank” represents the distillation of many years of work and
many millions of dollars of exploration investment
• Investors buying shares now leverage from Mirasol’s large “Project Bank”
• Mirasol is focusing on delivering new JV deals on drill ready projects in our
“Project Bank”
Objective accelerate drill testing of these projects to deliver discovery
& shareholder wealth creation
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The Mirasol “Project Bank”
Headline projects:
• Atlas – bulk minable gold/silver
• Titan – bulk minable gold/silver
• Rubi – porphyry copper/moly/gold
• Claudia – high grade gold/silver
• La Curva – high grade gold
• Virginia – high grade silver
Additional drill ready projects:
• Espejo – high grade gold/silver
• Libanesa – high grade silver
• Morito – high grade gold/silver
• Sascha – high grade gold/silver
• Homenaje – high grade gold/silver
Headline Projects
Chile
Drill targets
defined
Headline Projects
Argentina
New Gorbea JV
Prioritized for
new JV’s
Strategic locations
near mines or
advanced resources
These are projects where Mirasol has invested shareholder dollars & is now focused
finding JV partners to drill test with the objective of delivering near term discovery
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Eocene-O
ligocene
Igneous B
elt
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New Gorbea Gold Belt JV - Chile• Located in prospective
Miocene mineral belt
• New Gorbea JV with strong
strategic partner
• JV partner is operating
mines in Chile & Argentina
Gorbea JV terms:
• 9 Mirasol Projects include Atlas &
Titan
• Year 1 commitment of US$2M
with 3,000m of drilling
• 51% spend commitment of $10M
& $2M payments over 4 years
• 65% on completion of PEA on
>1Moz gold @ 0.3g/t gold cut-off
in an additional 2 years
• 75% on completion of feasibility
and decision to mine
• Mirasol conversion royalty option
at PEA or feasibility
• Mirasol retains min. 2.5% NSR &
funded to production equity in
project
*See news release March 26, 2015
Mirasol Headline Projects
Mirasol Pipeline Projects
Gold / Silver
Copper
Legend
Eocene-Oligocene Igneous Belt
Miocene-PlioceneIgneous Belt
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ATLAS PROJECT
New IP Geophysics Area
Completed by JV Partner,
July 2015
Survey 400m line spacing,
150m dipoles
ATLAS GOLD ZONE Rock chip assays &
Trench channel assays
to 50.3 g/t Au
PAMPA ZONERock chip assays
to 2.91 g/t Au & 421 g/t Ag
ATLAS SILVER ZONERock chip assays &
Trench channel assays
to 639 g/t Ag
ESCONDIDA TARGETRock chip assays
to 2470 g/t Ag
Oculto
Resistivity
Target
Falda Zone
Previous Mirasol IP Geophysics Survey
200m line spacing, 50m dipoles
Post Mineral Cover
Syn-Post Mineral
Miocene Domes & Lavas
Host Miocene Volcanics
10 500100
Pole Dipole (PDP) 50m Res. Depth Slice
15440 Ohm-m
Rock Chip Assays > 0.5 g/t Gold Equiv.
2 to 50.4
1 to 2
*Gold equivalence
is calculated by
Au + Ag / 60
Areas of Gold/Silver
Rock Chip Assays > 50ppb Au
0.5 to 1
New Gorbea JV – Mirasol Atlas Gold / Silver Project - Chile
• 25 km2 alteration system
• Multiple gold prospects
identified
• New discovery, no
previous drilling
• Exploration potential for
large oxide gold
mineralization deposit
• Large, new IP
geophysical survey –
completed by JV partner
• Exploration camp
capacity upgraded
ahead of planned drilling
in September to
November 2015
*See news release July 28, 2015
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New Gorbea JV – Mirasol Titan Gold Project - Chile
• Large outcropping oxide gold system
• Strategic location 8 km south of Atlas
project
• Targeting oxide gold deposit
• Conceptual porphyry copper-gold
target at depth
Summary of Mirasol results to date
• Best trench results include;
- 194m @ 0.41 g/t Au
incl. 31m @ 1.36 g/t Au
• RC drill intersections include;
- 18m @ 2.16 g/t Au
incl. 10m @ 3.85 g/t Au
Geophysics & drilling anticipated for
summer season 2015 / 2016
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Mirasol Santa Cruz Argentina “Project Bank”
Base Imagery: ASTER GDEM
Mining Provence:
Cerro Vanguardia AngloGold Ashanti
Cerro Negro Goldcorp
Manantial Espejo Pan American Silver
San Jose Hochschild Mining
Cerro Morro Yamana Gold
• Large Mirasol portfolio of gold &
silver projects
• Headline projects – Claudia,
La Curva & Virginia
• Additional drill ready projects,
strategically located
• Claudia & La Curva projects
targeted for JV
Mirasol Headline Projects
Mirasol Drill Targets Defined
Mirasol Pipeline Project
Legend
Operating Mines & Adv. Projects
Jurassic Volcanics
Mirasol
Santa
Cruz
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Claudia Gold / Silver Project – Santa Cruz Argentina
• Claudia large project with 5 standalone
prospects; Curahue, Rio Seco, Cilene,
Ailen & Laguna Blanca
• Strategic location adjoining world class
AngloGold Ashanti Cerro Vanguardia gold
silver mining district
• Curahue Trend;
Step change for Claudia Project
15.5 km long, largely gravel covered
• Geophysics / geochemistry / geology
Big system / Strategic location
*See news release July 27, 2015
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Gradient Array Resistivity
Low High
(Ohm m)
Io Trend - trenching
*See news release July 27, 2015
Claudia Project – 15 km Curahue Trend• Large gold - silver vein system evident
• No previous drilling of Mirasol targets
• Strategically located adjacent to Cerro Vanguardia
Rock Chip & Trench AssaysGold Equivalent (Au+Ag/55)
Ro
ck
ch
ips T
ren
ch
ing
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• Strategic project in new gold district
• Four large gold-silver prospects identified / no previous drilling
• Potential for high-grade & bulk mineable gold mineralization
• 6 km long La Castora trend with 3 separate drill targets defined by gold-silver
assays / geology & geophysics
• Drill ready targets at Chato, Arthur & Southwest prospects
Curva Gold-Silver Project – Santa Cruz ArgentinaNew District / Four Prospects – 3 Drill Ready / No Previous Drilling
Mirasol La Curva – 36 600 Ha
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Key Messages for Investors
• Large portfolio of 10 drill ready projects
• 6 Headline projects – large systems / multiple drill targets / big company
projects
• The “Project Bank” represents the distillation of many years of work &
many millions of dollars of exploration investment
• Mirasol is focusing on accelerating new JV’s on drill ready projects in our
“Project Bank” to deliver discovery
Leveraging Mirasol Project Bank through JV’s to accelerate drill testing
& potential discovery
New Gorbea Joint Venture: drill testing of the large Atlas/Titan
Gold-Silver projects in Summer 2015 / 2016 (southern hemisphere)
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Atacama Puna – Generative Program
• Targeting giant Gold, Silver & Copper deposits of
the Mio-Pliocene & late Eocene-Oligocene age belts
• Initial focus Mio-Pliocene belt:
• Salares Norte – Gold Fields Ltd.
• Alturas – Barrick Gold Corp.
• Atlas/Titan – Mirasol Resources
• New framework database & target generation –
reinitiated November 2014
• “Project Generation Engine” back online
Actively acquiring property portfolios in
prospective settings in Chile & Argentina
Targeting giant Gold, Silver & Copper deposits
Bol iv ia
ATACAMA
PUNA
Generative
Program
Pascua-Lama
Salares Norte
New Gold Fields
Discovery La Coipa
Escondida
Chuquicamata
Collahuasi
El Teniente
Alturas
New Barrick Gold
Discovery
Alumbrera
Mirasol
Gorbea JV
Atlas/Titan
Base Imagery:
ASTER GDEM
Mirasol
Rubi
Mirasol Generative
Atacama Puna Program
Legend
Copper Deposits
Key Exploration
Projects
Gold Deposits
Miocene-Pliocene Igneous Belt
Eocene-Oligocene Igneous Belt
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Mirasol Resources Ltd
• Well funded exploring without dilution
• Conservative capital structure even in a challenging market a
significant discovery will deliver value to shareholders
• Strong “Project Bank” leverage through JV’s to accelerate
drill testing & the potential for near term discovery
• New Gorbea Gold Belt JV will deliver drill testing of Atlas & Titan
• Project generation engine is back online;
Delivering new exploration opportunities
A strategic advantage