AGATA NICKEL LATERITE PROJECT EXPLORATION UPDATE NOVEMBER 2014 1 - PowerPoint PPT Presentation

AGATA NICKEL LATERITE PROJECT EXPLORATION UPDATE NOVEMBER 2014 1

DEPOSIT LOCATION 2

EXPLORATION WORK PROGRAM The exploration drilling program commenced at the west and south pit of • Agata North to check the validity of previous Mindoro drillhole data and to increase the confidence the resource. The goal of the program is to produce an updated NI43-101 compliant resource. The current exploration program includes a total of 494 in-fill drill holes • (diamond drilling) and 143 twin holes (auger drilling) as summarized below: Proposed no. of Estimated Sequence Location Purpose Drillholes Meterage Infill 100 1,600 Phase I West Pit S Twin hole 57 1,072 Infill 110 1,760 Phase II West Pit N Twin hole 86 1,055 Phase III Central Pit Infill 220 3,520 Phase IV South Central Pit Infill 64 1,024 3

INITIAL INFILL DRILL RESULTS To date, 93 holes of the 494 infill drill holes have been completed and • results have yielded significant intercepts of up to 2.3% nickel and 52.5% iron Results of the in-fill drill program will be used to upgrade the mineral • resource estimation at the project on reviewing data from previous work and mapping at Agata South. A total of 52 out of 143 auger drill holes have been completed to date and • initial assay results on samples show higher nickel and iron grades as compared with previous drill data. In addition, thicker saprolite horizons have been intercepted during the • drill campaign, indicating a potential increase in volume and grades of the current resource. Due to the variability of the deposit, full results of the twin hole drill program will be announced upon completion of the program. 4

INFILL/TWIN HOLE DRILL LOCATIONS

STEP OUT DRILL PROGRAM Concurrent with the infill drilling, exploration work will also include step-out • drilling in order to define ore extensions outside the pit design and to assess the potential of satellite laterite deposits mapped at the southern areas of the MPSA. Potential drill targets include Agata South-A, Agata South-B and Agata • South-Central (see map on next slide). Other areas for possible ore extensions are the eastern-, western- and southern end of the current Agata North reserves outline. Reconnaissance mapping will be carried out to locate areas of possible • drill targets. A full drill program will be defined once ground assessment and drill target • definition are completed. 6

POSSIBLE STEP OUT DRILLING LOCATIONS Potential drill • targets include Agata South-A, Agata South-B and Agata South- Central Other areas for • possible ore extensions are the eastern-, western- and southern end of the current Agata North reserves outline.