IN 2017 WE ACHIEVED A MAJOR NEW DISCOVERY … · in 2017 we achieved a major new discovery...
Transcript of IN 2017 WE ACHIEVED A MAJOR NEW DISCOVERY … · in 2017 we achieved a major new discovery...
IN 2017 WE ACHIEVED A MAJOR NEW DISCOVERY (ACTUALLY, TWO OF THEM).
THIS SUMMER WE OPEN IT UP.June 19, 2018
- Forward looking Statements & Qualified Person
Certain statements included in this presentation constitute forward-looking statements, including those identified by the words “proposed”, “will”,anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar words and expressions to the extent they relate to GT GoldCorp. (the “Company”) or its management.
The forward-looking statements are not historical facts and are based on current expectations and various estimates, factors and assumptions. Theytherefore involve known and unknown risks, uncertainties and other factors.
Any forward-looking statements represent the Company’s estimates only as of the date of this presentation and should not be relied upon asrepresenting the Company’s estimates as of any subsequent date. The material factors and assumptions that were applied in making the forward-looking statements in this presentation include:
(a) execution of the Company’s existing plans or exploration programs for its properties, which may change due to changes in the views of theCompany, or if new information arises which makes it prudent to change such plans or programs; and
(b) the accuracy of current interpretations of geochemical, geophysical, drilling and other exploration results, since new information or newinterpretations of existing information may result in changes in the Company’s expectations. Readers should not place undue reliance on the Company’sforward-looking statements, as the Company’s actual results, performance or achievements may differ materially from any future results, performanceor achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect theCompany’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that suchforward-looking statements will materialize. The Company disclaims any intention or obligation to update or revise any forward-looking statements,whether as a result of new information, future events or otherwise.
QA/QC Procedures
GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of RC chipsand diamond drill core, the complete details of which can be viewed on the Company's website at http://www.gtgoldcorp.ca/projects/tatogga/
Saddle Reverse Circulation and Diamond Drill Program Assay Results
Widths reported in this presentation are drilled core lengths. True widths are estimated to be approximately 85-90% of drilled lengths for minus 50degree holes, and approximately 70% for minus 70 degree holes. All assays are performed by ALS Canada Ltd. (Minerals), with sample preparationcarried out at the ALS facility in Terrace, BC, and assays at the North Vancouver laboratory. Assay values are uncut. For gold, fire assays are performedas per ALS protocol Au-AA26 (0.01-100.00 g/t Au) using 50 grams of sample with assays equal to or greater than 5 g/t Au calculated gravimetrically, andlower-grade samples measured by (AA) atomic absorption. All samples that return equal to or greater than 5 g/t Au from initial fire assaying areadditionally sent for screen metallic analysis using the remainder of the pulp (~950 grams of sample). This step is taken to ensure that any coarsegrained, nugget gold fraction that may have been missed in the fire assays has been captured.
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GT Gold Corp.’s Qualified Person as defined by National Instrument 43-101 is Charles James Greig, P.Geo., VicePresident, Exploration. Mr.Greig has reviewed and approved the technical information in this presentation.
CJ Greig, P.Geo
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SADDLE - Two Major Discoveries in 2017
The intrusive ‘engine’ responsible for it all?
Multiple high-grade gold-silver vein zones
Exploration Discovery Award Mines & Money, London, UK, November 2017)
1. 2.
2,000 metres
– This is Where it is – Good Access and It’s
Reasonably Close to Infrastructure
Flagship TatoggaProperty: 42,520 hectares Saddle discoveries Pass Gossan target Valleyside target 10 km from a
paved highway Nearby grid power
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– Saddle Discovery – Lay of the Land
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Saddle North
Saddle South
1 km
Red Chris Mine M&I resources (2012): 13 MOz gold, 9 Blbs copper, 5 MOz silver
>1,000 metresdepth
Saddle
– Saddle Discovery Area – View to North
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Thick overburden
Saddle South
Saddle North(in valley bottom)
Photo credit: CJ Greig
– Saddle Discovery Area – View to Southeast
Thick Cover, a General Lack of Outcrop and Visible Colour Kept Saddle Hidden From Previous Explorers
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Saddle South(~1700m
elev.)Saddle North(~1600m
elev.)
Thick glacial deposits
– Saddle Discovery History
A Discovery Rooted In Geochemistry Commencing with regional soil
sampling in 2013, we developed the Saddle target from grassroots as an off-the-radar, privately-held company.
By the close of 2016 the Saddle target looked exceptional. We believed it offered very high discovery potential and, in 2017, we drilled it for the first time ever.
The target delivered the anticipated discovery.
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Saddle South
Saddle NorthChosen initial focus area for drilling
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– Saddle South (West Side) 2017 Drilling Plan View
Thick glacial deposits
Early RC holes (blue)Later DDH (red)
We Drilled the Gold-in-Soil Geochemical Anomaly
Alpine Grassland
86 holes for total 15,998 metres drilled at Saddle South in 2017
N
550 m
– Saddle South – West Side 2017 Drill Results
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At Saddle South -west side, drilling (right) has outlined a large vein zone - at surface - dense with mineralization and spanning approx. 500 X 150 X 500 metres, open in several directions
N400 metres
SADDLE SOUTH – WEST SIDE
Cros
s Sec
tion
Comes to Surface Along Full Trend
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– Saddle South – West Side 2017 Drill Results
Vein Zone Continuity Is Excellentand Mineralized Intercepts are Abundant
400 metres
SADDLE SOUTH LONG SECTION
– Saddle South – West Side 2017 Drill Results
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Saddle South High Grade Vein SystemTypical Cross Section Numerous High-Grade
Intercepts to Date With Results as High as 51.53 g/t Au Over 6.95 Metres (350 Gram-Metres) in Hole TTD007
– Saddle South – Numerous High Grade Intercepts
High Grade Core Drilling Intercepts: TTD002: 6.57 g/t Au over 14.78 m (97 g-m)
TTD007: 51.53 g/t Au over 6.95 m (358 gram-metres)
TTD010: 5.10 g/t Au over 23.66 m (120 g-m) TTD014: 5.84 g/t Au over 20.71 m (121 g-m) TTD019: 14.75 g/t Au over 12.15 m (179 g-m) TTD022: 13.22 g/t Au over 7.00 m (93 g-m) TTD031: 48.85 g/t Au over 3.36 m (164 g-m) TTD038: 10.18 g/t Au over 6.87 m (70 g-m) TTD040: 12.64 g/t Au over 6.60 m (83 g-m) TTD045: 20.17 g/t Au over 2.31 m (47 g-m) TTD046: 20.02 g/t Au over 8.25 m (165 g-m) TTD056: 23.78 g/t Au over 4.02 m (96 g-m)
TTD058: 31.79 g/t Au & 1,141.10 g/t Ag over 3.01 m (96 g-m)
Inc. 117.00 g/t Au & 1,835.00 g/t Ag over 0.70 m
TTD059: 12.12 g/t Au over 5.83 m (71 g-m)
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High Grade RC Drilling Intercepts: TTR008: 13.03 g/t Au over 10.67m (139 gram-
metres)
TTR013: 8.75 g/t Au over 8.53m (75 g-m)
TTR017: 14.11 g/t Au over 3.05m (43 g-m)
TTR019: 17.41 g/t Au over 9.14m (159 g-m)
TTR020: 10.70 g/t Au over 9.14m (98 g-m)
TTR022: 15.33 g/t Au over 8.84m (136 g-m)
TTR025: 8.79 g/t Au over 7.62m (67 g-m)
Note: Widths shown are not true widths. True widths vary greatly depending upon a combination of the dip and azimuth of holes, and the strike and dip of the target zone. The intercepts shown are estimated to range from approx. 90% of drilled lengths for minus 45-degree holes, to 70% for minus 70-degree holes, and about 50% for minus 85-degree holes
– Saddle South – Exploration Upside(There’s Lots of It)
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Saddle SouthEast Side
Saddle SouthWest Side
OPEN
OPEN
OPEN
OPEN
Discovery Zone
– Saddle South – East Side 2017 Drill Results
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First-Ever Hole Into Target (Hole 59)
Achieved 12.12 g/t Au over 5.83 metres
– Saddle South – Styles of Mineralization
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1. Semi Massive to Massive Sulphide Veins
2. “Thin Vein” Style
3. Vein Breccias
4. Carbonate-Rich Veins
– Saddle North – the Elephant in the Room
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A Very Large Target With Large-Scale and High Grade Potential
2,000 metres
Almost the last hole of the 2017 season (TTD062) drilled a new Cu-Au-Ag-enriched intrusion, possibly representing the “engine” that may have driven the entire Saddle mineralized system. It is a massive target
– Saddle North - East End Porphyry Discovery
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Hole 62 – A First-Ever Test of the Possible System ‘Engine’ Mineralized pretty much top to bottom
Mineralogy suggests the intrusive ‘hot zone’
Grade strengthens steadily with depth
Bottoms in highest grade mineralization
Top priority is to deepen this hole
Potentially analogous to nearby Red Chris deposit
From (m) To (m) Length Au (g/t) Ag (g/t) Cu (%)
TTD062 23.47 234.00 210.53 0.14 0.28 0.16
Including 23.47 51.00 27.53 0.06 0.25 0.08
And 51.00 100.00 49.00 0.10 0.28 0.14
And 100.00 150.25 50.25 0.17 0.26 0.17
And 150.25 200.27 50.02 0.15 0.25 0.17
And 200.27 234.00 33.73 0.22 0.36 0.24
– Saddle North – A New Cu-Au-Ag Discovery
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Hole 64 – Last Hole of the 2017 Program Tested the Intrusive Periphery 1,000 Metres West of Hole 62 and Returned Rich (Porphyry-Style) Grades Near Surface:
Monzonite intrusive hosting strongly elevated gold (averaging 1.35 g/t Au), silver (averaging 1.42 g/t Ag), and copper (averaging 0.37% Cu), associated with sheeted quartz veins akin to those seen at the nearby Red Chris mine where grade is directly related to quartz content –the more quartz, the higher the grade
From (m) To (m) Length Au (g/t) Ag (g/t) Cu (%)
TTD064 134.60 153.00 18.40 1.35 1.42 0.37
Including 134.60 142.00 7.40 2.28 2.03 0.56
– Tahltan First Nation – Our Community
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Chad Day, President, Tahltan Central Government, and Kevin M. Keough on signing of 2017 Communications Agreement
We have an outstanding relationship with the Tahltan First Nation
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- Strongly Positive Initial Metallurgical Results
Initial, unoptimized metallurgical test results for 28 composites spatially and mineralogically representative of the Saddle quartz-carbonate-sulphide mineralization show it is amenable to standard cyanidation processing1
Average recoveries of 84% gold and 25% silver, including numerous samples that showed recoveries of over 90%, and as high as 98%
Optimization is expected to increase average recoveries well into the 90s
Future testing will include floating a sulphide con and other approaches aimed at maximizing recoveries with minimum cost
Note 1. 80% passing 100 microns, maximum 48 hour retention time – most reports within 24 hours
Field of View ~0.25mm
Field of View ~0.65mm
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- Key Priorities for Summer 2018
EXPANSION DRILLING AND LOTS OF IT (est. 18,000 Metres)
1. Expansion drilling of the high-grade gold-silver vein systems at Saddle South (west side), Saddle South (east side), and Saddle North (west end)
2. Expansion drilling of the new intrusive discovery at Saddle North (central & east end)
3. Completion of an initial NI 43-101 compliant resource calculation (Q1 2019?)
– Capital Structure & Market Position
Notes:
1. Of the 91.3 million basic shares outstanding, 19.1 million are presently held in escrow. Of this total, approx. 17.3 million are held in escrow for the 3 original property holders plus 2 original New Chris Minerals shareholders who vended in on the creation of GT Gold on Nov. 10, 2016. Another 1,800,000 shares are held in escrow for six original holders of the CPC (Manera Capital) used for the go-public transaction. These escrowed shares will be released in three remaining tranches -15% per tranche (i.e. approx. 6.4 million shares) - on, respectively, Nov 21, 2018, and May 21 and Nov 21, 2019
Major Shareholders (est.):
Management & Directors 15%Institutions 12%Ross Beaty 9.3%Other High Net-Worth Investors 20%Retail 43.7%
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(1)
Source: Stockwatch
52-week high $2.76
Saddle discovery announcement July 25, 2017
Seasonal drilling stop early October
Trading at 38 cents pre-discovery
Annual lows and start of new seasonal up-cycle
Basic Shares 91,289,712 Warrants 5,411,584 Options 8,288,333 FD Shares 104,989,629
Share Price (June 18 close) 0.84$
FD Market Cap 88,191,288$
Cash (As at June 18) 7,200,000$ In-Money Warrants 1,082,317$
Enterprise Value 79,908,972$
GT Gold Capitalization Table
– Strong Management
Steve Burleton, President & Chief Executive Officer – CFA, MBA, is an experienced mining executive with significant experience in capital raising, corporate development and strategy. He served most recently as VP, Business Development at Richmont Mines Inc. prior to Richmont being acquired by Alamos Gold Inc. for US$770 million. At Richmont he was responsible for financing and worked closely with its executive team to determine strategic direction. He has over 18 years of experience in the Canadian investment banking industry advising and executing debt and equity financing for companies in the mining, fertilizer and industrial products sectors. Mr. Burleton is a CFA Charterholder and holds an MBA from York University.
Charles J. Greig, Vice President, Exploration, and Qualified Person (NI 43-101) – P.Geo, B.Sc. & M.Sc. Geological Sciences – UBC, and B.Comm - UBC. With more than 35 years in the sector, Mr. Greig is among the most experienced geologists in B.C., having worked on projects such as Brucejack Lake (Pretivm), Red Mountain (Lac Minerals, IDM), Silbak-Premier (Westimin, Ascot), IKE (HDI-Amarc), and abroad on projects such as La India in Mexico (Grayd, Agnico Eagle) and Bisha in Eritrea (Nevsun).
Paul L. Kania, Chief Financial Officer – CPA. Mr. Kania is a financial professional with broad experience providing CFO, Controller and financial reporting and consulting services to public and privately held businesses in various sectors in both Canada and the U.S. He has significant experience in the mining sector. In addition to his Certified Public Accountant (CPA) designation, he holds a HBA, Economics and Philosophy from the University of Toronto, and an Accounting and Finance certificate from Ryerson University.
Jo-Anne Archibald, Corporate Secretary - Ms. Archibald is President of DSA Corporate Services Inc. Previously, she served as Senior Vice President at TMX Equicom. She holds an MBA from the Ivey School of Business at Western University and an Honours B.Sc. from the University of Guelph. Ms. Archibald is a Fellow (FCIS) of the Institute of Chartered Secretaries and Administrators (ICSA) and a graduate of the ICD-Rotman Directors Education Program from the Institute of Corporate Directors (ICD.D).
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– Experienced Board of Directors
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Ashwath Mehra, Executive Chairman, Director – BSc. Philosophy & Economics, London School of Economics. Mr. Mehra has 30 years of experience in mining and metals, and significant experience in debt and equity capital markets. He commenced his career trading commodities with Philipp Brothers in London, England. From 1990 to 2000, he served as a Senior Partner at Glencore International AG (and its predecessor) where he ran the nickel and cobalt businesses. He also served as Co-Owner and CEO of MRI Trading AG from 2001 to 2011, and successfully sold the firm in 2011.
Steve Burleton, President & Chief Executive Officer, Director – CFA, MBA, (York), is an experienced mining executive with significant experience in capital raising, corporate development and strategy. He served most recently as VP, Business Development at Richmont Mines Inc. prior to Richmont being acquired by Alamos Gold Inc. for US$770 million. At Richmonthe was responsible for financing and worked closely with its executive team to determine strategic direction. He has over 18 years of experience in the Canadian investment banking industry advising and executing debt and equity financing for companies in the mining, fertilizer and industrial products sectors.
Charles J. Greig, Vice President, Exploration, and Qualified Person (NI 43-101), Director – P.Geo, B.Sc. & M.Sc. Geological Sciences – UBC, and B.Comm - UBC. With more than 35 years in the sector, Mr. Greig is among the most experienced geologists in B.C., having worked on projects such as Brucejack Lake (Pretivm), Red Mountain (Lac Minerals, IDM), Silbak-Premier (Westimin, Ascot), IKE (HDI-Amarc), and abroad on projects such as La India in Mexico (Grayd, Agnico Eagle) and Bisha in Eritrea (Nevsun).
John L. Pallot, Director (Independent) - Mr. Pallot studied at Simon Fraser University prior to serving with Telus Corp. for 30 years. He has more than 20 years of involvement with public companies as a director and/or in senior executive capacities with such companies as Statesman Resources, Messina Minerals, Windarra Minerals (acquired by Wesdome Gold), Westward Exploration, and Redmile Capital (now Orla Exploration). He presently serves as an independent director of Klondike Gold Corp.
Taj Singh, Director (Independent) – M.Eng, P.Eng; CPA, CMA; B.Eng., University of Toronto; M.Eng., McMaster University. Mr. Singh is a Professional Engineer and a Chartered Professional Accountant. He has 17 years of experience in the minerals sector and presently serves as President and CEO of Discovery Metals Corp. Prior to joining Discovery Metals, Mr. Singh was VP of Engineering, Projects & Business Development at Timmins Gold Corp; VP and Mining Equity Research Analyst at Macquarie Capital Markets; and worked in various senior engineering roles at Inco Limited and Vale Limited.
Charles Tarnocai, Director (Independent) – B.Sc., Geology, Brock University; Ph.D Geological Sciences, University of Ottawa. Dr. Tarnocai has 22 years of experience in international mining and mineral exploration and was most recently Vice President, Corporate Development for Alamos Gold Inc. During his 7 years with Alamos Gold, he was responsible for the identification, financial and technical evaluation, and acquisition of development and production-stage mining projects. Prior to that Dr. Tarnocai held the position of Chief Geologist with Oro Gold Resources Ltd. and, for the previous 13 years, the position of Research Geologist with Placer Dome Inc.
Renaud Adams, Director (Independent) - P.Eng., B.Sc. Engineering, Laval University. Mr. Adams served as President and Chief Executive Officer of Richmont until its acquisition by Alamos in November 2017, and has 25 years of experience as an executive and operator in the mining industry. Prior to his tenure with Richmont, Mr. Adams was President and Chief Operating Officer of Primero Mining Corp. from November 2011 to October 2014; Senior Vice-President, Operations Americas of IAMGOLD Corporation from February 2010 to October 2011; and, prior thereto, Vice President and General Manager of the Rosebel Gold Mine in Suriname for IAMGOLD Corporation. He also has served as a member on several Boards of mining companies.
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- Saddle Recap and GTT Investment Case
o Drilling confirms a discovery of merit, but it is early dayso Initial metallurgy is excellento The vein zones and intrusive centre offer both:
high-grade and large-scale resource potential
o We intend this year to demonstrate: grade scale resource