Investor Presentation - Moneta Porcupine · 2020-05-01 · This presentation contains...
Transcript of Investor Presentation - Moneta Porcupine · 2020-05-01 · This presentation contains...
TSX: MEOTC: MPUCF I XETRA: MOP
Investor Presentation
May 2020
HIGH GRADE GOLD IN THE TIMMINS CAMP
OTC: MPUCF; Xetra: MOPTSX : ME
Forward-Looking Statements
2
This presentation contains forward-looking information and forward-looking statements, collectively “forward-looking statements”. All
statements, other than statements of historical fact, that address activities, events or developments that the Company believes,
expects or anticipates will or may occur in the future (including, without limitation, statements regarding exploration programs,
potential mineralization, future plans and objectives of the Company, updated to the mineral resources, and the timing and results
thereof) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company
based on information currently available to the Company.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could
cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to the
availability and costs of financing needed in the future, changes in commodity prices, changes in equity markets, changes to regulations
affecting the Company's activities, the uncertainties involved in interpreting exploration results and other geological data and the other
risks involved in the mineral exploration industry.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements
are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.
TSX : ME
Overview of Moneta
3TSX : ME
Ontario Focused Gold Explorer in the Timmins Camp
Excellent Neighbourhood:
FLAGSHIP ASSETGolden Highway Project
Latest Resource in District
• Significant increase in resource
• 58% growth(1) in November 2019
• Regional scale potential
1) In the Indicated resource category. Inferred resource category increased by 40%.
• New Updated Resource
• Significant high-grade resource
• Preliminary Economic Assessment underway; results in 2020
• No royalties or encumbrances
Newmont, Pan American Silver, McEwen Mining, Osisko Mining and Kirkland Lake Gold
Moneta’s Highlights
4TSX : ME
Golden Highway Project has a Current Resource 1 of 556,500 ozs (3.82Mt @ 4.53 g/t Au) Indicated & 1,174,000 ozs (8.74Mt @ 4.31 g/t Au) Inferred
Updated November 201950% increase in contained ounces Open in all directions with excellent potential for expansion
• 100% Ownership of Major Land Package consisting of 6 Gold Projects along the Prolific Destor-Porcupine Fault Zone (DPFZ)
Existing Infrastructure to Support Future Gold Production Scenarios• Good Neighbours: Newmont-Goldcorp, McEwen Mining, Pan American Silver,
Osisko Mining and Kirkland Lake Gold
• 50% Ownership of Garrison Project JV with Kirkland Lake Gold
• Existing Infrastructure to Support Future Gold Production Scenarios
1. November 15, 2019 Micon International Limited NI 43-101.
• No royalties or encumbrances over resources
Corporate Information
5TSX : ME
Shares Outstanding 311.5 Million 52 Week RangeHigh: $0.14Low: $0. 06
Options ($0.22)Warrants ($0.16)
17.3 Million1.5 Million
May 1, 2020
Current Share Price $0.115
Fully Diluted 330.3 Million Market Capitalization $35.8M
Insiders acquired 4.5MM shares in the last year
Institutional Shareholders
Mackenzie Funds Eric Sprott
Sprott Funds K2
Dundee US Global
Analyst Coverage
Don Blyth Paradigm
Geordie Mark Haywood
Cash Position $4.7MM
Debt Nil
Leadership: Management & Directors
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Management Team:
Gary O’Connor CEO & Chief Geologist
Ian Peres President & CFO
Board of Directors:Kevin Heather Independent Director
Rod Cooper Independent Director
Alex Henry Independent Director
Patricia Sheahan Independent Director
Mark Wayne Independent Director
Warren Bates Independent Director
Josef Vejvoda Independent Director
Successful Track Record in Exploring, Developing and Producing
Team experience includes:
6 Gold Projects In The Timmins Camp
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• Timmins Gold Camp has produced >80Moz Gold over the last 100 years• Canada’s most prolific gold producing camp• 618km2 land package along the DPFZ• Adjacent to operating mines with under-utilized mills• Excellent infrastructure (roads, power and local workforce)
Golden Highway Project
8TSX : ME
Summary
Large Archean Orogenic Gold System
Deposit Type Archean Greenstone deposits
Size and Scale
• Large open system; resources over ~4km strike • Several drill targets identified over additional 4km• Regional scale potential over 12km strike of BIF• Plus ultramafic/mafic hosted deposits
Grade
• High grade mineralized structural setting• Defining high grade extensional veins• Readily able to expand high grade structures• Underground resource model
Current Resource 1556,500 oz of Indicated (3.82 Mt @ 4.53 g/t Au)1,174,000 oz of Inferred (8.47 Mt @ 4.31 g/t Au)
1) See NI 43-101 technical report dated February 2019 for details
Golden Highway Project
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New Geology
Major jog in DPFZ• Several splays of the DPFZ• >12km strike length • Transgressive basin
Sedimentary Basin• Timiskaming age clastics• Extensional regime
Mafic/Ultramafic • Splays along DPFZ• Structural settings
Drilling• 74,000 m of new drilling
Same sequence and age of units as Timmins Camp
Mineral Resource Estimate by Deposit
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Golden Highway ProjectAs at November 2019 (Prepared by Micon International), reported at a 3.00 g/t Au cut-off
Indicated Inferred
DepositTonnes
(t)Grade
(g/t Au)Ounces
(oz)Tonnes
(t)Grade
(g/t Au)Ounces
(oz)
South West 3,239,000 4.53 472,000 7,601,000 4.32 1,056,500
WJ South 364,000 4.19 49,100 173,000 4.59 25,500
“55” Zone 216,000 5.11 35,400 327,000 4.31 45,300
WJ North - - - 265,000 3.80 32,400
Discovery - - - 108,000 4.12 14,300
Total 3,819,000 4.53 556,500 8,474,000 4.31 1,174,000
• Top capping by deposit on 1m composites varying from 6 g/t Au to 37 g/t Au• Minimum 1.50 m width. Constrained to geological wire frames • At US$1,250/oz Gold Price, 60 m search radius• Ordinary kriging, 5m x 5m x 10m parent blocks with sub-blocking• Variable bulk densities, averaging 2.78 t/m3
South West Mineral Resource Update
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November 2019 comparison with January 2019 by Category
*Includes West Block
Resource estimate by Terry Hennessy of Micon International, November 20193g/t Au cut-off
Indicated Inferred
Resource Tonnes Grade Ounces Au Tonnes Grade Ounces Au
Date (t) (g/t) (oz) (t) (g/t) (oz)
January 2019 2,007,000 4.63 298,900 5,583,000 4.21 755,800
November 2019 3,239,000 4.53 472,000 7,601,000 4.32 1,056,500
Difference + 1,232,000 + 173,100 + 2,018,000 + 300,700
Percentage + 61% + 58% + 36% + 40%
Resource: Selectivity by Cut-Off Grade
TSX : ME 12
South West Deposit; Mineral Inventory
• 7.2% of tonnes in isolated blocks removed from resource estimate• 5.4% of ounces in isolated blocks removed from resource estimate
See NI 43-101 technical report dated February 2019 for details
Unclassified Mineral Inventory
Cut-off Tonnes Grade Ounces
(g/t) (t) (g/t) (oz)
5.00 2,377,000 6.56 501,200
4.50 3,302,000 6.04 641,600
4.00 5,177,000 5.40 898,700
3.50 7,872,000 4.83 1,221,300
3.00 11,298,000 4.34 1,577,200
2.50 16,109,000 3.86 2,000,100
2.00 25,005,000 3.28 2,636,700
1.50 40,005,000 2.70 3,476,200
1.00 57,643,000 2.25 4,175,000
0.50 74,696,000 1.91 4,596,200
South West Geology
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Golden Highway Project
Updated Interpretation
Host• 3 x BIF units• One favourable host• Coarse sandstone
Veins• Extensional• Steeply dip to SW• Strike NNW• Drilled to 1,200 m• Veins up to 25m wide• Up to 400m strike length• Alteration/vein type
Resource Geology: Cross Section View
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Golden Highway Project
• Focus has been on South West• Shallow and limited drilling at “55” & Windjammer South• New resource in November 2019• 50% increase in ounces• West Block and Gap extensions included
Exploration Potential
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• New discoveries at Westaway & Halfway
• Additional targets at Dyment 3 and Western targets
• 8km of 12km BIF strike length
• Another 4km not tested
Golden Highway Project
New gold vein systems hosted in Timiskaming sediments
Halfway 2019 drilling:1.80 m @ 7.48 g/t AuInc. 0.77 m @ 15.50 g/t Au3 new zonesWestaway 2019 drilling:
5.25 m @ 6.30 g/t Au& 4.25 m @ 5.77 g/t Au12 new zones
Comparable Company Valuations
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Moneta Porcupine; Golden Highway Project
“5.56”: Grade of deposit (g/t Au)
15.00
0.67
6.27
7.37
0.64
5.56
7.52
5.58
6.148.58
1.87
6.100.91
4.38
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
6.0
6.5
7.0
7.5
8.0
05010015020025030035040045050055060065070075080085090095010001050
Resource(Moz)
Market Cap($Million)
Market Cap Resource
Precedent Transactions
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Moneta Porcupine; Golden Highway Project
5.67
3.19
4.66
8.51
5.18 6.048.69
5.38
1.66
1.37
0.90
13.64
5.33
4.38
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
6.0
6.5
7.0
$0.00
$50.00
$100.00
$150.00
$200.00
$250.00
$300.00
$350.00
$400.00
$450.00
$500.00
Richmont Mines
(Alamos Gold)
Klondex (Hecla
Mining)
Lakeshore Gold (Tahoe Resources)
Claude Resources
(Silver Standard
Resources)
Probe Mines
(Goldcorp)
Queenston Mining (Osisko)
Integra Gold Corp
(Eldorado Gold)
AVERAGE Romarco (Oceana
Gold)
Kaminak (Goldcorp)
Trelawney Mining
(Iamgold)
Dalraidian (Orion)
Barkerville (Osisko)
Moneta porcupine
Total Resource(Moz)
Precedent Transactions Comparison (Price$/oz)
C$/oz Total Resource (oz) “5.56”: Grade of deposit (g/t Au)
TSX : ME
Steady Progress Throughout 2019
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• Completed new NI43-101 new resource estimate and technical report on Golden Highway Project
• Mr. Eric Sprott increases investment in Moneta Porcupine to 9%
• Completed financings for proceeds of $6.2M
• Signed and executed exploration agreement with Wahgoshig First Nation
• Completed a 10,000 m drill program that expanded total resources by 58% in the indicated category and by 40% in the inferred category at South West
• Current resource increased by 473,800 gold ounces in 2019 (+173,100 ounces indicated and +300,700 ounces inferred).
Golden Highway Project
2020 Plans & Objectives
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• 2020 January - March Drill Program of 18,000 metres
• Drill extensions of West Block resource to the west
• Drill test expansion potential at “55” and Windjammer South
• Test new Halfway and Westaway targets
• Test new exploration targets
• Gold recovery test-work: Improved to 94%-95.5%
• Continue to de-risk project
• Update new resources as required
• PEA at South West
• 2020 Fall/Winter Drill Program
Expand and De-risk Mineral Resource Estimates
Golden Highway Project
TSX : ME
Pathway to Production*
20
2017-2020
Successful financings and strong balance sheet $4.7M
in cash
Increased resources by 58% and 40% to 1.8 million gold
ounces in 2019
2020 winter/spring drill program completed
Commenced Preliminary Economic Assessment(“PEA”)
Study
Environmental Base-Line underway
Additional drill program planned for Q3/Q4 for
resource expansion
2020-2022Continue drill programs onGolden Highway Project to
expand resources
Complete PEA in 2020 and announce results
Evaluate potential to build Moneta mill or ship feed to one of six mills in Timmins
with excess capacity
Complete pre-feasibility study. Commence feasibility
study
Build decline ramp in advance of commencement
of production
* Estimated timeline. Forward looking statements - there can be no assurance that each or any of these objectives will be completed.
2022-2032Production could commence
at South West deposit
Production estimated for up to 10 years at 100,000
ounces of gold per year
Continue to expand drilling and resources on additional 8
kilometres of prospective land
Advance the joint venture project with Kirkland Lake
Gold
Investment Highlights
21TSX : ME
Ontario Focused Gold Explorer in the Timmins Camp
Excellent Neighbourhood:
Golden Highway Project
Latest Resource in District
• Significant increase in resource
• 58% growth(1)
in November 2019
• Regional scale potential
• Short time-line to production
1) In the Indicated resource category. Inferred resource category increased by 40%.
• Safe jurisdiction
• Expanding resource base
• Significant high-grade resource
• No royalties or encumbrances
• PEA to be completed in 2020
Newmont Goldcorp, Pan American Silver, McEwen
Mining, Osisko Mining and Kirkland Lake Gold
22TSX : ME
CORPORATE CONTACT
Moneta Porcupine Mines Inc.65 Third AvenueTimmins ON P4N 1C2
Tel: 1-705-264-2296 | TimminsTel: 1-647-456-9223 | Toronto
Email:[email protected]
monetaporcupine.com
TSX : ME