AusQuest
AusQuest
Annual General Meeting
Annual General Meeting
November 2009
November 2009
Managing Director Presentation
Managing Director Presentation
Disclaimers
Forward-Looking Statements
This presentation contains forward looking statements concerning the projects owned by AusQuest Limited. Statements concerning mining
reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on specific assumptions.
Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the
forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements are based on
management's beliefs, opinions and estimates as of the dates the forward looking statements are made and no obligation is assumed to update
forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. Data and amounts
shown in this presentation relating to capital costs, operating costs and project timelines are internally generated best estimates only. All such
information and data is currently under review as part of AusQuest Limited's ongoing development and feasibility studies. Accordingly, AusQuest
Limited cannot guarantee the accuracy and/or completeness of the figures or data included in the presentation until the feasibility studies are
completed.
Competent Person's Statement
The information in this presentation that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Graeme
Drew who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Drew is employed by AusQuest Limited and is the Company's
Managing Director. Mr Drew has sufficient experience which is relevant to the style of mineralisation and the type of deposits under
consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Drew consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.
JORC Exploration Targets
It is common practice for a company to comment on and discuss its exploration in terms of target size and type. The information in this
presentation relating to exploration targets should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves.
Hence the terms Resource(s) or Reserve(s) have not been used in this context. The potential quantity and grade is conceptual in nature, since
there has been insufficient work completed to define them beyond exploration targets and that it is uncertain if further exploration will result in
the determination of a Mineral Resource.
Currency
All dollar amounts shown in this presentation are in Australian dollars unless otherwise stated.
Capital Structure
ˇ Listed securities
227m
ˇ Listed Options
104m (20c end November 2009)
ˇ Unlisted Options
56m (incl 48m options to Cliffs
@ 40c in May 2011, & 8m staff
options)
ˇ Major shareholders
Cliffs 30%, Passport Capital
6.5%, Hamersley 4.6%, C Ellis
4.7%
ˇ Cash Position
A$24M (Oct 2009)
Summary Exploration Progress
ˇ Table Hill - Large areas prospective for shallow
manganese outlined using 2009 drill results.
ˇ Manganese potential within the upper portions of the
Frere Iron Formation recognised at Stanley
ˇ Manganese potential along structures at Wolfe?
ˇ Drill results infer potential for sediment hosted base metal
deposits in the Plenty River region.
ˇ 68% increase in Inferred Resource at Rocklea Channel
Iron Prospect.
ˇ New opportunities on the radar third party discussions
underway
AusQuest Projects
Rocklea Fe
Rocklea Fe
Table Hill Mn, Ni
Table Hill Mn, Ni
Wolfe Mn
Wolfe Mn
Diamantina Cu-Au
Diamantina Cu-Au
Plenty River Cu, Ni
Plenty River Cu, Ni
Dundas Au
Dundas Au
Large tenement holdings across Australia
Stanley Mn
Stanley Mn
Table Hill Stratigraphic Control on Mn
(Diagramatic)
GEOTEM Conductivity Sections
provide window into basin stratigraphy.
The Boondawarri and Spearhole
sandstones are conductive and
produce stratigraphic marker horizons
in GEOTEM data.
Manganese occurs ~300 metres above
the Spearhole sandstone and variable
distances below the Boondawarri.
Control provided by 2009 drilling
critical to outlining areas that contain
target stratigraphy
Clay alteration plus manganese
produces EM responses within the
target horizon
Target
Stratigraphy
Variable
EM response
Table Hill Regional Summary
0
50km
GEOTEM Image Ch 20
GEOTEM Image Ch 20
Table Hill MN1 Manganese Corridor
GEOTEM Channel 20
GEOTEM Channel 20
Clay alteration
1.9m @ 7.8%Mn, 23.2%Fe
4m @ 47.5%Mn
New Targets
Table Hill Target Stratigraphy MN5-MN6
Manganese target areas outlined
for bedrock sampling
MN6
MN5
Table Hill Stratigraphic Manganese Target
Section C-D
Section A-B
Mundadji
ni
Mundadji
ni
Spearhol
e
Spearhol
e
Mundadji
ni
Mundadji
ni
Spearhol
e
Spearhol
e
MN6 Drill-hole
0
2km
200
0
400
Conductivity Depth Sections from GEOTEM data
Mn Target
Table Hill Manganese 2010 program
ˇ Critical Year for the Table Hill Project
ˇ Manganese exploration to focus within MN1 corridor
and areas with favourable stratigraphy
ˇ Complete stratigraphic interpretation of regional
GEOTEM data to outline key target areas
ˇ Bedrock geochemical sampling of key areas to
confirm manganese (&/or base metal) prospectivity
Wolfe Manganese Project Drill Summary
Ruby Plains Prospect
Ruby Plains Prospect
Tenement
Granted
Application
Wolfe Manganese - 2010 Program
ˇ Compile and assess 2009 drill results from Ruby Plains
prospect
ˇ Early results suggest manganese potential associated
with cross cutting structures
ˇ Identify and sample prospective structural dislocations
of ERD-MKS contact ahead of further drilling
Stanley Manganese Project
Recce Soils confirm Mn anomaly
Mn Outcrop
55%Mn (Niton)
Stanley Manganese outcrop
55%Mn
(Niton)
Stanley GEOTEM Manganese Targets
Frere Iron Formation
Windida Carbonate Member
20m at 3.8% Mn
WRC35
Flight Line 3 EM Section
Windida Carbonate Member
Flight Line 4 EM Section
Potential
Potential
Mn
Mn
Target
Target
Potential
Potential
Mn
Mn
Target
Target
Stanley - 2010 Program
ˇ Infill mapping and surface sampling in areas of
anomalous Mn response.
ˇ Regional mapping and prospecting of prospective
Mn stratigraphy
ˇ Reconnaissance drilling down dip from high grade
surface manganese occurrence(s)
ˇ Drill test conductive stratigraphy within the Windida
Carbonate Member for Mn mineralisation
Plenty River Cu, Ni, Zn Prospects
Plenty River Caroline Prospect Area
Sulphide bearing
sediments inferred
from magnetics
Caroline Prospect - Core photos
Laminated sulphide bearing sediments
Chalcopyrite in Veins
Sphalerite (ZnS) disseminated through core
Plenty River White Gums Prospect Area
Sulphide bearing
sediments inferred
from magnetics
?
White Gums Prospect - Core photos
Galena in Veins
Galena in Veins
Sulphide veinlets & disseminations
Plenty River 2010 Program
ˇ Early drill results suggest potential for new base metal
province at Plenty River
ˇ Magnetic data implies sulphide rich (FeS) sediments
could be wide spread throughout the region
ˇ Exploration for sediment hosted Zn & Cu to target
sulphidic sediments adjacent to major structures/growth
faults
ˇ Sampling, geophysics and drilling in 2010
Diamantina - Potential IOCG Target
Mulligan
Machattie
Major Structure
Major Structure
Drill
Drill
-
-
hole
hole
Machattie
IP Target
ˇIP data infers large sulphide target
below Cretaceous sediments at
contact of Machattie IOCG system
ˇCompetitor results report Cu along
the Toomba Fault
ˇ2010 Confirm size of IP target
and test by drilling
Toomba Fault
Diamantina Hinge Zone
Dundas Gold Project - 2010
Proterozoic - Archaean
boundary Gold target
ˇComplete calcrete
sampling - 2009
ˇBedrock drill gold
targets - 2010
Rocklea CID Resource (2009)
* Resources as reported to the ASX on August 13, 2008.
*
*
ˇInferred Resource includes higher
grades - 28.2Mt @ 55.6%Fe,
6.0%SiO2, 2.3%Al2O3, 11.3%LOI
ˇPotential strike extensions should
increase resource base
ˇRealise value for shareholders
AusQuest in 2010
ˇ Focus will be retained on Provincial scale opportunities
ˇ Exploration to concentrate on Company's Provincial scale
manganese (3) and base metal (2) projects
ˇ Critical year for both the Table Hill and Wolfe projects
ˇ Looking at gold opportunities on and off-shore and
considering energy related projects
ˇ Annual budget expected to be about $8.0m for 2010
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