Sherlock Minerals Company Brief June 2015 Email: sherlock@sherlockminerals.com.au
Disclaimer This presentation has been prepared by Sherlock Minerals Pty Ltd (the Company ). This presentation is being provided to a limited number of recipients for the sole purpose of providing preliminary background information to enable recipients to understand the business activities of the Company. It is not intended as an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities. The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. The opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. This presentation does not constitute financial product advice. To the fullest extent permitted by law, the Company and its associates or any of its directors, agents, officers or employees do not make any representations or warranties, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility or liability for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This document has been prepared as a summary only, and does not contain all information about the Company’s assets and liabilities, financial position and prospects and the rights and liabilities attaching to the Company’s securities. This document should be read in conjunction with any other reports and information provided or released by the Company. Some of the statements contained in this presentation are forward-looking statements. Forward looking statements include but are not limited to, statements concerning estimates of expected costs, statements relating to the advancement of the Company’s investments and other statements which are not historical facts. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward-looking statements include the potential that the Company’s projects may experience technical, geological, metallurgical and mechanical problems, changes in product prices and other risks not anticipated by the Company or disclosed in the Company’s published material. Competent Persons Statement: The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Peter Reid, who is a Competent Person, and a Member of the Australian Institute of Geoscientists. Mr Reid is a Director of Sherlock Minerals Pty Ltd. Mr Reid has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Repor ting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Reid consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Thomas Creek - Potential for a World Class Copper-Gold Porphyry Deposit • Surface soil copper-gold anomaly extends 1.8 km by 1.2 km and still open. • Exceptional surface assays up to 7 % Cu and 3 g/t Au. • Primary chalcopyrite and gold within massive pyrite host saprock found below soil cover. • Large IP anomaly – at least 300m by 500m in surface area, below mineralisation and starting at approximately 100m depth. panned pyrite-chalcopyrite sulphides + gold from sap rock ore shoots
Sherlock Minerals • Mineral exploration company focussed on discovering high value poly-metallic mineral deposits • Experienced management team with strong technical and industry credentials: Peter Reid, Graham Ascough, Donald Stephens • Committed low cost operator to maximise spending of funds on drilling and exploration
TEAM Exploration geologist with 21 years of exploration and management experience. Peter Reid Involved with Prominent Hill Cu-Au discovery and several successful ASX mineral start up companies. Managing Director Founded ASX listed geothermal explorer, Petratherm. BSc Hons, MAIG Current Exploration Manager of Petratherm and an executive Director of ASX listed Lawson Gold Senior mining executive and geophysicist with more than 24 years of exploration and management experience Graham Ascough Global experience in project generation and exploration, former Chairman exploration manager for major Canadian mining house BSc, MAUSIMM, Falconbridge. PGeo Recently retired MD of Mithril Resources. Director and Chairman of four ASX listed mining companies Chartered Accountant and Corporate Advisor with more than 25 Donald Stephens years of industry experience Holds directorships and is company secretary with a number of Director & public listed and private companies Company Secretary Provides corporate advice over a number of industries BAcc, FCA Track record of successful start up of several ASX companies, with strong capital raisings.
Assets • Exciting range of projects including well advanced, drill-ready targets through to conceptual greenfield plays. All 100% owned! 3758km 2 ground holding in South Australia (Granted) 394km 2 ground holding in Tasmania (Granted)
Western Tasmania – World Class Metal Province 16Mt @ 12.6% Zn, • Polymetallic Copper, Gold, 5.9% Pb, 2.2 g/t Au Lead, Zinc and Silver VMS 28Mt @ 14.3% Zn, Deposits of the Mt Read 4.3% Pb, 2.4 g/t Au Volcanic Belt 2.83 Mt @ 12.5g/t Au 24.54 Mt @ 1.41% Sn • Gold – Henty 12.0 Mt @ 1.11% Ni • Nickel - Avebury 311Mt @ 1.0% Cu, 0.3g/t Au • Tin – Renison Bell • Tenements cover 38km Mt Read Volcanic Belt strike length of the underexplored southern portion of the highly prospective Mt Read Volcanic Belt • The largest holding of Mt Read Belt in Tasmania!
Tasmania - Projects • Thomas Creek Copper Gold Hill 99 Project Henrietta • Henrietta Nickel Project • Hill 99 Copper Zinc Gold Project • Greenfield Polymetallic Thomas Creek VMS, Gold and other Nickel Plays • Sherlock has reviewed historical airborne EM data and has identified numerous targets exhibiting VMS and Ni-PGE type signatures EM targets (red and blue dots)
Thomas Creek Project • Large scale geochemical and geophysical target • Potential for a World Class Sized Deposit • Classic demagnetised Thomas Creek magnetic ring typical Porphyry Target of porphyry copper deposits • Associated with major rift / transfer fault intersection - regional dilational zone RTP aeromagnetic image and tenement outline
Thomas Creek Copper-Gold Target • Copper anomaly overlies IP Magnetic Feature target in centre of magnetic low consistent with the expected response from a porphyry system Proposed 3D View (looking North) Drill Collars IP anomalies on sections Copper in soil Anomaly (Cu range 200ppm – 7.0%; sporadic Au upto 3 g/t) Surface IP 400m Anomaly Magnetic Body
Thomas Creek Copper-Gold Target Soil anomaly includes exceptional assays up to 7.0% copper 3 g/t gold Economic grades of primary copper-gold occurs in deeply weathered remnant thick ore shoots, several metres in width and open along strike Panned samples show chalcocite ± covellite (blue-grey) partly replacing chalcopyrite.
Historic Shallow Drilling at Thomas Creek • 8 shallow BQ sized holes completed in 1996 do not test the IP anomaly and appear have been drilled adjacent to parallel shallow high grade ore shoots. 58m @ 0.08% Cu from 40m Inc. 9m @ 0.13% from 50m • Broad zones of low grade Cu reported – i.e. Inc 27m @ 0.1 from 71m TCD2 - 58m @ 0.08% Cu from 40m, TCD5 - 15m @ 0.17% Cu from 32m. 76m @ 0.05% Cu from 45m Inc. 5m @ 0.1% Cu from 74m • Significant core loss from intensely altered Inc. 9m @ 0.1% Cu from 108m zones – higher copper-gold grades may not have returned sample for assay. 15m @ 0.17% Cu from 32m Inc. 5m @ 0.21% Cu,0.12 g/t Au • Strongly altered porphyritic diorite – Typical alteration andesite with extensive hematite stockwork Chl-Ser + hematite vein system (after primary sulphide?) and stockwork veining intense – silica - K-spar, sericite, chlorite alteration 300m • Drilling to 60-90m vertical depth (if no uplift) May still be in leached Cu depleted • zone!
Henrietta Nickel Project GeoTEM Z component Channels 1-15 TMI (magnetics) RTP magnetic image with strong magnetic highs likely mapping prospective ultramafic rocks Intense late-time electromagnetic high GeoTEM Z component Late time 1km • Reprocessing of historical airborne EM data identified new target not recognised by previous explorers • Late channel, associated with magnetic high
Henrietta Nickel Project • EM targets coincident with mapped belt of ultramafic rocks • Reconnaissance field visit located Ultramafic rocks iron gossan which assayed 0.6% Ni & 52ppb Pt • EM conductor spans 1.4km of unexplored strike length • Potential for Avebury style deposit (12Mt @ 1.11% Ni) Geological map with priority 1 EM targets (red circles)
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