Tr Transforming the Carmacks Cu-Au Au-Ag Ag Project Yu Yukon, Canada 28 February 2019 TSX.V:COL
FO FORWARD LO LOOKING ST STATEMENTS This presentation includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, the timeliness of regulatory approvals, the timing and success of future exploration and development activities, exploration and development risks, market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that the proposed exploration and development of the mineral projects will proceed as planned, market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. The current technical report entitled “JDS Energy & Mining. 2016. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada”, with an effective date of 12 October 2016 and posted on www.sedar.com on 25 November 2016 (“the 2016 PEA”), is preliminary in nature and there is no certainty that the PEA findings will be realized. The economic analysis in the 2016 PEA is based solely on measured and indicated mineral resources and does not include inferred mineral resources. Refer to the 2016 PEA for a discussion of the applicable qualifications and assumptions and the impact on the results of the previous studies on the Carmacks Project. National Instrument 43-101 Dr. Harlan Meade, P.Geo., Director of the Company, is the Qualified Person who has reviewed and approved the content herein, for compliance with National Instrument 43-101. TSX.V: COL | 2 Forward Looking Statements
Fo Focus used ed on n the he Carmacks Projec ect CARMACKS OXIDE Cu-Au-Ag PROJECT 100% owned Advanced-stage development asset SX/EW cathode copper and gold/silver dore production Positive 2016 PEA Based on 7-year mine life Measured & Indicated Resource 11.98 Mt @ 1.07% Cu, 0.456 g/t Au and 4.58 g/t Ag 282 M lbs Contained Cu, 171,800 oz Au, and 1,705,800 oz Ag 2015 and 2017 Exploration Added additional 4.3 MT Measured and Indicated Resource and Potentially 2.5 Years Additional Mine Life TSX.V: COL | 3 Focused on the Carmacks Project
Co Copper N North – Co Corporate S Structure Capital Structure (as at 28 February 2019) Issued: 85,900,413 Options: 5,264,000 Warrants: 17,101,066 Fully Diluted: 108,265,479 Management/Directors: 10,634,667 (9.8%) TSX.V: COL | 4 Corporate Structure
Our Experienced Team Ou Dir Directors – Ma Management - Adv Advisors Robert McKnight, P.En Rob Eng. MBA - Ch Chairman Currently Executive Vice-President of Nevada Copper Corp. He is a geological engineer, with over 30 years of Ø experience in the resource business and a wealth of knowledge in project finance, mergers and acquisitions, feasibility studies and valuations. Doug Ramsey, M. Do M.Sc., R.P. P.Bio. – Pr Pres esident ent and nd CEO Over 35 years experience in permitting, development, operations, and closure of base and precious metal mines. Ø Previously, VP Sustainability and Environmental Affairs at Copper North (2012 to 2018). Dr Dr. Harlan Me Meade, P. P.Geo. – Di Director Retired President and CEO of Copper North (Dec 2018). Former President and CEO Selwyn Resources Ltd.; Yukon Zinc Ø Corporation. Over 40 years experience in exploration and development in the mineral industry. Bi Bill Ko Kouts tsoura ras, CA, C.F.A - Di Director Former Executive Vice President and Chief Financial Officer of Endeavour Financial Corporation . Ø Lo Lorne Anderson, CA – Di Director An independent Financial Consultant to the minerals industry and has served on the Boards of several public Ø companies. He formerly was the Chief Financial Officer and treasurer of Glamis Gold and a director of Tahoe Resources. Loy Ch Lo Chunpongtung, P , P.E .Eng. g. – Di Director Mr. Chunpongtong is a mining engineer with 25 years of experience in mine planning-scheduling, pit optimization, pit Ø design, ore-grade control planning, and advanced geo-statistical modelling. Loy is the Surface Mining Society Peer Review Chair for the CIM Journal and is an Executive Officer of the CIM Surface Mining Society. Dr Dr. Jack Mi Milton – Seni Senior Geo eology Advisor Jack has a unique understanding of the Carmacks Copper Belt and particularly our project site, having served as Ø Project Geologist on our Carmacks exploration programs since 2014. Re Rebecca Mor oriarty, CPA, CA - Ch Chief Financial Officer A Chartered Professional Accountant with over 16 years of experience in the mining industry, and a B.Sc. (Geology) Ø from Queens University. She previously spent 11 years at PricewaterhouseCoopers LLP working with public resource companies. TSX.V: COL | 5 Directors –Management-Advisors
Ca Carmacks P Proje ject – Fa Far from Rem emote In In the heart of the Carmacks Copper Belt TSX.V: COL | 6 Far from Remote
Tr Transfor orming the Carmacks Pr Proj oject In In the beginning (2011 for Copper North) Ø Copper-only heap leach project – M3 2012 Feasibility • 7 year mine life, based on: M&I M&I 11.98 Mt @ 1.07% Cu • Ignored 0.456 g/t Au and 4.58 g/t Ag • $177M pre-production Capex • (current CAD would add approx. $22M to Capex) • $1.59/lb Cash cost of production • IRR: 14.1% (pre-tax), 10.0% (after-tax) • NPV (8%): $55M (pre-tax), $14.5M (after-tax) • Payback: 4.1 years (pre-tax), 5.3 years (after-tax) • Based on CAD=USD at par , TSX.V: COL | 7 Before the Transformation
Tr Transfor orming the Carmacks Pr Proj oject Buildi Bu ding g Va Value Bu Building val alue in th the Carmac armacks Pro roject t by: Ø Maximizing metal recovery from the mineral resource Ø Engineering a low-cost producer Ø Expanding the mineral resource through exploration Adding to our: Ad Qu Quality Deposit High-grade: oxide copper with significant recoverable gold Ø and silver, plus: Early stage copper-gold-silver sulphide mineral resource § Excelle Exce llent Loca ocation ion Yukon, Canada: low political risk, stable tax regime Ø Yukon reduced corporate tax from 15% to 13% in April § 2017 Infrastructure: all weather road access, 11 km from the Yukon Ø Energy grid TSX.V: COL | 8 Building Value
Ca Carmacks Co Copper-Go Gold-Si Silver er Projec ect Bu Buildi ding g Va Value Ma Maximizing Me Metal Recovery Ø Oxide deposit grades 1.07% Cu, 0.45 g/t Au, and 4.5 g/t Ag (Zones, 1, 4, 7, and 7A) Ø Historical plan was to heap leach and only recover copper Ø Selected two-stage agitated tank leach process efficiently recovers copper by sulphuric acid leach and precious metals by cyanide leach JDS Energy and Mining. 2016. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, § Canada, filed on www.sedar.com on 25 November 2016. The 2016 PEA is preliminary in nature and there is no certainty that the PEA findings will be realized. Ø Leached copper recovered by SX/EW to produce LME grade A copper cathode Ø Leached gold and silver recovered by carbon-in-leach Ø Near 100% recovery of acid-soluble copper and cyanide-leachable gold TSX.V: COL | 9 Maximizing Metal Recovery
Ca Carmacks Co Copper-Go Gold-Si Silver er Projec ect Bu Buildi ding g Va Value En Engineering a Low ow-co cost st Copper r Pro roduce cer Ø Precious metals recovery adds 73% to net project revenue (at US$3.20/lb Cu, and US$1,320 Au) Ø Result is a low-cost Cu producer after precious metals credits US$1.08/lb lb C1 cash cost in lower decile of global copper producers § compared to $1.59/lb for copper only heap leach En Engineered for or En Environ onmental Sustainability Ø Barren tailings slurry treated for cyanide destruction Ø Treated tailings filtered and placed in a dry stack tailings management area § Best Available Technology (BAT) for tailings management Ø Water recovery and re-use in the process plant is maximized; including water recovery through tailings filtration Ø Oxide tailings and waste rock are not acid generating Ø The net result - a project that minimizes water consumption and discharges to the natural environment that can be closed quickly and effectively. TSX.V: COL | 10 A Low-cost Producer
Ca Carmacks Cu Cu-Au Au-Ag Ag Project Tw Two-St Stage e Agitated ed Tank nk Lea Leachi hing ng TSX.V: COL | 11 Two-Stage Agitated Tank Leaching
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