Martabe - G-Resources
Martabe - G-Resources Martabe - G-Resources
PTAR MARTABE Martabe Geology Resources & Reserves Exploration 29th September 2009 Stuart Smith
- Page 2 and 3: PTAR MARTABE -:Ìf UPDATE ON NEAR M
- Page 4 and 5: PTAR MARTABE ¡.1: t tl , ^3 lL^ l-
- Page 6 and 7: EXPLANATToN ¡ C¡tiês ¡lertab€
- Page 8 and 9: PTAR MARTABE Deposits are of the "
- Page 10 and 11: PTAR MARTABE Oblique view of Pit 1
- Page 12 and 13: +, Reporting to Australian Joint Or
- Page 14 and 15: PTAR MARTABE Resources & Reselves n
- Page 16 and 17: PTAR MARTABE Near Mine - Resource E
- Page 18 and 19: PTAR MARTABE Drilling Continued wit
- Page 20 and 21: Barani Þ Steep dipping vein system
- Page 22 and 23: Ramba Joring PTAR MARTABE Very simi
- Page 24 and 25: Ramba Joring Þ Further work requir
- Page 26 and 27: Pit 1 East PTAR MARTABE Adding Reso
- Page 28 and 29: Based on PTAR MARTABE lncreasing ou
- Page 30 and 31: PTAR MARTABE CoW Exploration Likely
- Page 32 and 33: Tani Hill PTAR MARTABE Large scale,
- Page 34: Near Mine programmes underway and w
PTAR<br />
MARTABE<br />
<strong>Martabe</strong><br />
Geology<br />
<strong>Resources</strong> & Reserves<br />
Exploration<br />
29th September 2009<br />
Stuart Smith
PTAR<br />
MARTABE<br />
-:Ìf<br />
UPDATE ON NEAR MINE EXPLORATION<br />
UPDATE ON REGIONAL EXPLORATION<br />
lntroduction
PTAR<br />
MARTABE<br />
<strong>Martabe</strong> CoW occurs in a highly<br />
prospective Plate Margin setting<br />
Not just theory; its visible in<br />
earthquake data<br />
Broad Tectonic Setting<br />
\<br />
,nrn#<br />
OCEANIC<br />
PLATE<br />
-I<br />
S.UNDALAND<br />
9 -to*Il-f;'r|'o'<br />
Eafthquake epicentre data, showing subducting slab
PTAR<br />
MARTABE<br />
¡.1:<br />
t tl<br />
, ^3 lL^ l---^^¿<br />
l^^^^:¿^<br />
many of the largest Au ^.. deposits<br />
Broad Tectonic Setting
p The Sumatran segment of the<br />
Plate Margin is highly productive<br />
for Au<br />
ho lncludes Au-only deposits (LS<br />
and HS Epithermal) and<br />
sediment-hosted<br />
ìr"4'ro includes Cu-Au porphyrystyle<br />
prospects<br />
,ç* The belt has a total gold<br />
inventory of +18Moz<br />
,ôi'<br />
\Ñ<br />
IND¡AN.AUSÏRALIAN<br />
OCEANIC PLATE<br />
5{þ ktn<br />
O High Sulphidation<br />
û Low Suþhidation<br />
I Sedment Hosted
EXPLANATToN<br />
¡ C¡tiês<br />
¡lertab€ Distrlct<br />
I volcanoes<br />
,/ raun ,{ lmicilno<br />
olc Ouatomary Alluy¡um and Colluv¡um<br />
aü Quaternary Rhyodac¡te Tufl Ooba Tufi)<br />
qrr QuatefnaryEssalt4ndes¡to-Dac¡teLåvas<br />
Iertiary lnùuslons and Volcan¡cs (?)<br />
Tert¡sry Volcan¡cs, mostly Andosite<br />
(Angkola Formation)<br />
Te.t¡ary Sedimenl" mostly Saridstons<br />
(Bðrus Formåt¡on)<br />
PTAR<br />
MARTABE<br />
oæ<br />
Uesozo¡c - Paleozo¡c Granire (S¡bolga Compler)<br />
llosozoic - nota \rolcan¡c + m€ta L¡mgstons<br />
(Woyla Group)<br />
Paþozolc . lløso¿olc, meta S'ed¡ment +<br />
Llmestoneg<br />
Paleo:o¡c not¡ Sodiment¡, mostly S¡lBlono<br />
(fapanull Group)<br />
Regional Geological $etÉf;ng<br />
Volcanic, intrusive and<br />
sedimentary rocks with NW<br />
fault bounded structures<br />
H ig hly favorable structural<br />
setting for development of<br />
mineralisation
PTAR<br />
MARTABE<br />
Geology-Exploration Team<br />
Current team has significant project history with continuity of key staff from<br />
PTAR to OxianalOZL to G-<strong>Resources</strong><br />
Currently building up with new local and expatriate staff<br />
All geology functions have reporting links to GM-Exploration<br />
Ensure consistency of approach<br />
Transfer of knowledge<br />
As we grow we will ensure close links between Exploration, Resource<br />
Development & Mining to ensure two-way knowledge transfer<br />
So that Mining benefits from the existing knowledge of deposits<br />
So that Resource Development and Exploration benefit from increased<br />
knowledge as we develop the deposits
PTAR<br />
MARTABE<br />
Deposits are of the " High Sulphidation<br />
Epithermal" class<br />
Closely associated with hydrothermal<br />
fluids from an underlying magma<br />
Local Sett¡ng
P¡t 1<br />
r Relatively simple geometry with<br />
shallow dipping component and<br />
steeper elements<br />
r Allows for favourable stripping ratios<br />
r Close relationship between lithology,<br />
alteration, structure and<br />
mineralisation<br />
0.01 to 0,50<br />
0.50 to 1.00<br />
1.00 to 2.50<br />
. dt' r.J<br />
d' ;i"v<br />
P[ I Cro¡. g.clhn -LitÞþgt<br />
2.5f1to 5.00<br />
>= 5.00 Pit 1 Au Block Model - cross secfron
PTAR<br />
MARTABE<br />
Oblique view of Pit 1 Block model coloured by Au; USD700 pit shell<br />
10<br />
P¡t 1r 3D Geometry
PTAR<br />
MARTABE<br />
High Sulphidation Style Quartz Vein Styles<br />
ffi_<br />
Oxide Milky QuarÞ Vein with<br />
Colloform Banded<br />
-..-..ry<br />
æÃ<br />
A
+, Reporting to Australian Joint Ore<br />
Reserves Committee (JORC)<br />
standard<br />
r. Two categories:<br />
¡' Mineral Resource<br />
v lnferred<br />
u lndicated<br />
:, Measured<br />
, Ore Reselve<br />
t Probable<br />
: Proved<br />
Most recent statement<br />
June 2008 OZ Minerals<br />
,, New statement in preparation<br />
ing levelof<br />
geological<br />
-.<br />
ES ORE RESERVES<br />
4-"""'<br />
Measured Proved<br />
Consideration of m in in g, metallurgical, economic, marketin g,<br />
legal, environmental, social and governmental factors<br />
(the "Modifying Factors").<br />
12<br />
..t
PTAR<br />
MARTABE<br />
<strong>Resources</strong> & Reserves<br />
Mt (s/t Au) (s/t As) Gold (Moz) Silver (Moz)<br />
Measured 3.79 2.9 46 0.35 5.61<br />
Indicated 47.71 1.7 22 2.61 33.75<br />
Inferred 39.65 1.1 13 1.40 16.57<br />
Total 91.15 1.5 19 4.36 55.92<br />
Inferred 36.56 1.0 4 1.18 5.',17<br />
Total 36.56 1.0 4 1.18 5.17<br />
Inferred 10.39 1.1 0.37<br />
Total 10.39 1.1 0.37<br />
TOTAL RESOURCES 138.10 1.3 5.91 61.09<br />
Proven 3.9 2.7 41.8 0.34 5.29<br />
Probable 31.8 1.8 23.9 1.88 24.42<br />
TOTAL RESERVES 35.7 1.9 25.9 2.22 29.71<br />
13
PTAR<br />
MARTABE<br />
<strong>Resources</strong> & Reselves<br />
new <strong>Resources</strong><br />
t, Uluala Hulu (first resource)<br />
Currently preparing new Reserves<br />
P¡t 1<br />
Barani/Ramba Joring/Uluala Hulu<br />
Reserves require metallurgical test work,<br />
pit optimisation etc
Geology<br />
PTAR<br />
MARTABE<br />
Developing and testing our<br />
understanding of the deposits<br />
Geochemistry<br />
For regional work stream sediment<br />
sampling, highly effective<br />
So/ sampling effective at prospect<br />
scale<br />
Geophysics<br />
Electrical methods most effective<br />
Resrsfivity - can be acquire from<br />
aircraft, but detailed data requires<br />
ground acquisition<br />
Magnefrcs - ore magnetically inert; but<br />
magnetics useful for geological<br />
understanding<br />
Exploration Tech n iq ues<br />
15<br />
Maftabe near mine area geophysics (resrstivity) image
PTAR<br />
MARTABE<br />
Near Mine - Resource Extension &<br />
Discovery<br />
Ore that could be treated through<br />
<strong>Martabe</strong> plant - maximising the<br />
value of the plant<br />
2010 Budget US$6.9M<br />
CoW - New Discovery<br />
Likely to require new processing<br />
facility<br />
Targeting<br />
Au -similar to <strong>Martabe</strong><br />
Cu-Au porphyry - similar to<br />
Batu Hijau (Newmont)<br />
2010 Budget US$2.9M<br />
Exploration Strateg ies<br />
SoLrthr Tap.artuli,
PTAR<br />
MARTABE<br />
Existing Deposits<br />
Defining <strong>Resources</strong> in areas<br />
of known mineralisation (e.9.<br />
Ramba Joring East)<br />
Conversion of <strong>Resources</strong> to<br />
Reserves<br />
Nearby deposits where<br />
<strong>Resources</strong> are yet to be<br />
defined (eg Tor Uluala and<br />
Uluala Hulu)<br />
Also nearby exploration<br />
(g eo p hys/g eo logy/g eoch e m )<br />
targets remain to be tested<br />
17<br />
Near Mine Exploration
PTAR<br />
MARTABE<br />
Drilling Continued with 2-3 rigs<br />
Focused on<br />
Barani, Ramba Joring, P¡t 1 East<br />
and Uluala Hulu<br />
Total - 69 holes - 11,304 m<br />
January - August 2009<br />
18<br />
Drilling Status up to August 2009<br />
35.000<br />
3ù.000<br />
25.000<br />
20.000<br />
15.000<br />
10.000<br />
5.000<br />
0<br />
-v=2 *E *<br />
õ = -l¡r Èç =,<br />
=<br />
= EE õ<br />
-o.F<br />
Total holes COW since 1998<br />
. -125 000 m - "near mine"<br />
. 6697.5 m - COW-wide on 5 prospects<br />
Ë= ËF<br />
{- õ õ<br />
J<br />
É, 1
Barani<br />
PTAR<br />
MARTABE<br />
2009 work had two aspects<br />
Within current resource -<br />
increasing confidence<br />
Along strike - adding ounces<br />
2009 Dril ling Results<br />
at<br />
¡l<br />
AßO774, 18.3n@t-38g/t<br />
ì<br />
l\ '<br />
t\ tr<br />
ApsDza6, 19,1m @ 1.88<br />
8.1m @ 1.24<br />
apsFs¡, ¡a.¡. en ¡.ot øfLl, r.rt J<br />
AßDlilO, 72.4m et 6.2 ¡/t lu, r¡.rg c/ì t<br />
APSO697, 19.3m €) 4.98 g/t Au, 9.08 S/t AE<br />
APSO779,2O,9n @ 3.63 zlt Au,3.79 s,lt As, \<br />
APSD7IO,31.7m @ 3.7AeltA¡u,tO,86s,lt As \<br />
APSD785, 25.35m @ 4.51 E,/t Au, 10.05 &/t As<br />
AP5D7:14,32.8m @ 8.96 elt ^!,L.62EltA3<br />
295m @ 16.73 s/t Au, 5.9 3/t Aß<br />
24,6ttt @ 2.97 Elt Au, O.7l Elr îú,<br />
21.h Gt sl29 s/t Au, t.ol s/t As -<br />
27.l'm @ 2.66 Elt Au, 2.92 Bß a4<br />
9.2m e 4.65 8/t Au,2.9l ßlt Aß<br />
,9m @ 1.88 r/t Au, 1.42 slt Aß<br />
2,93 El. Au,z,ts clt Ag<br />
AE;D789, ll.rrm Gu 3,Sr àt eu, O.ZS ¡/t eg<br />
< r:o'r17.2n Érf.O4 8/r Al, 1i18 8/t Ag
Barani<br />
Þ Steep dipping vein system<br />
> High grades developing to<br />
south<br />
Þ Recent intersections<br />
29.5m@16.7 g/t Au<br />
21 .1m@5.29 g/t Au<br />
11.4m@3.51 g/t Au<br />
18.3m@3.41 g/t Au<br />
20
Barani<br />
¡* Resource update<br />
currently underway<br />
p. Further drilling required<br />
BARANI SE€TION N166825<br />
O 25m<br />
LOOKING NORTH<br />
+<br />
+<br />
0.s g/t Au<br />
1.0 g/t Au<br />
21<br />
2.5Om @ 1.309¿/tAu<br />
S.¡gm €r t.¡S g/t ¡rt<br />
16.10m @ 1.77 ß/t Au<br />
@ 2.10 g/t Au<br />
@ r.æ s/t Au<br />
2.40m €t 1.70 s/t Au<br />
1.88 E/t Au<br />
b*<br />
o%- I r.o-z.s<br />
-$ i 2.5-5.0<br />
I | >s.o<br />
j o New Holes<br />
i o old Holes<br />
1rD^<br />
"Q+
Ramba Joring<br />
PTAR<br />
MARTABE<br />
Very similar geology to Pit 1<br />
Recent Results<br />
55.8m@4.27 g/t Au<br />
15.1 m@3 .41 glt Au<br />
12.2m@4.19 g/t Au<br />
35.9m@2.48 g/t Au<br />
Legend<br />
I sil¡caAlteration<br />
S¡l¡ca + Alunite + D¡ck¡te Alterat¡on<br />
Clay Alterat¡on<br />
Chlo¡ite i Calc¡te Alteration<br />
Au ¡n B/t<br />
I 1.0 - 2.5 a New Holes<br />
M:Î z.s-s.o . otd Hotes<br />
I >5.0<br />
)<br />
2009 Drilling Results<br />
APSD761, 3s.9m @ 2.48 s/t Au,2.91 g/t At<br />
APSD754, ss.8sm @ 4.27 Elt A!,7.69 Elr ^9,<br />
10.4m @ 2.69 s/t Au, 16.38 8/r A8<br />
APSD749, 17.2m @ 4.Lg gl¡ Au, 12.1 g/t Ag,"i<br />
22.2m @ L.7t glt A!,2.2 clt. AB<br />
APSD746, 22.1m @ 2.45 g/t 4u,14.45 g,lt AE<br />
APSD776, 10-0m @ 1.3 g/t Au, 5.6 Elt Ag<br />
9.0m @ 1.3 t/t Au ,4.19 eh. Ag,<br />
15.1m @ 3.41 8/t 4u,7.83 8/t Ag<br />
APSD762, 6.2m @ 2.62 glt Au, 4.Ls tlt ^g<br />
18.4m @ 2.43 t/t Au, u.41 g/t At<br />
Ë-
Ramba Joring<br />
Two zones<br />
PTAR<br />
MARTABE<br />
Broadly co-incident with<br />
modelled resistivity highs<br />
Controls on higher grades<br />
still unclear<br />
RAMBA JORING SECTION OB-098<br />
TOOKING NORTH<br />
23<br />
2009 Drilling Results
Ramba Joring<br />
Þ Further work required<br />
Þ Remains open<br />
RAMBA JORING SECTION OB{99<br />
24<br />
rtsm I 121¡ t/t Au
Uluala Hulu<br />
PTAR<br />
MARTABE<br />
Similar to Pit 1 and<br />
Ramba Joring<br />
Recent Results<br />
36m@2.07 g/t Au<br />
1 18m@3.99 g/t Au<br />
19.4m@3.58 g/t Au<br />
82.7m@4.13 g/t Au<br />
lnitial resource being<br />
calculated now<br />
ULUALA HULU PROSPECT<br />
E-W Section Nl7120O<br />
Alteration lnterpreted<br />
2009 Drilling Results<br />
i<br />
I<br />
! 82.7m@a.13 glt Au<br />
uo.1 gft As<br />
I aesojoo ..'. ,'<br />
118m@3.99 glt Au<br />
38.0 gft Ag
Pit 1 East<br />
PTAR<br />
MARTABE<br />
Adding Resource ounces with<br />
additional drilling<br />
2009 Drilling Results<br />
DH Id From (m) mdh Au (g/t) As (s/t) Cu (ppm)<br />
APS1D7.96 95.Í zgi<br />
AFSiD796 144^! 5Af<br />
APSD796 164.t 5.7( 1.3€ 17.5¿ 19(<br />
APSD796 175.( 18.5( 1.57 63.2f 25S<br />
APSD798 142.1 6.3( 1.3! 12.i '141<br />
APSD799 7.1 2.8r 2.8 4.71 tl¡<br />
APS,D79g 22.1 7-4G<br />
APSD799 43.2 2.4( 6.71 129.9€ 132!<br />
APSD799 106.f 5.6( 1.9 ¡ 27.O1 102i<br />
APSD799 135.( 9.0( 1.2e 30.82 27t<br />
APSD799 168.( 11.0( 1.4t 19.6', 23'<br />
APSD799 186.i 11.2( 2,4r 26.2¿ 39i<br />
APSDSOl 112.( 12.0( 2.1( 34.3f 1621<br />
APSDsOl 131.( 9.6t 2.31 22.21 21t<br />
APSDsOl 169.C 20.8( 1.O2 18.21 1',lt<br />
641
P¡t 1<br />
PTAR<br />
MARTABE<br />
Example of ability to convert<br />
<strong>Resources</strong> to Reserves<br />
lncreased Au-price<br />
By bring¡ng lnferred to<br />
lndicated<br />
Barani, Ramba Joring, Uluala<br />
Hulu also expected to add<br />
ounces during 2010 from<br />
Resource to Reserve<br />
<strong>Resources</strong> to Reselves<br />
27<br />
Pit 1 2008 Block Modelcoloured by Resource Category
Based on<br />
PTAR<br />
MARTABE<br />
lncreasing our understanding of<br />
deposits<br />
Further geophysics<br />
Re-interpretation of geophysics<br />
'<br />
Near M¡ne Targets<br />
nt^,ià Joi¡ng<br />
Maftabe near mine area geophysics (resrstivity) image
PTAR<br />
MARTABE<br />
Targets range from extensions and<br />
links between existing deposits (eg<br />
Ramba Joring East, Barani South) to<br />
new essentially untested targets (eg<br />
Barani West, Baringin)<br />
Major programs to be initiated in late<br />
2009 and through 2010 to build our<br />
Structu ral understanding<br />
Understanding of volcanic and<br />
sed imentary architecture<br />
Knowledge of hyd rothermal<br />
alteration zoning<br />
Ultimately leading to better targeting,<br />
as well as Resource/Reserve<br />
estimation and Mining<br />
29<br />
Near M¡ne Targets<br />
Maftabe near mine area geophysics (resistivity) image with<br />
defined targets<br />
-'{<br />
l.r<br />
\ +i<br />
I<br />
. l'<br />
rl I\<br />
(2)
PTAR<br />
MARTABE<br />
CoW Exploration<br />
Likely to require new<br />
processing facility<br />
Targeting<br />
Au - similar to <strong>Martabe</strong><br />
Cu-Au - similar to Batu<br />
Hijau (Newmont)<br />
Full CoW-wide review<br />
completed with external and<br />
internal people<br />
Priorities set, targets defined<br />
Budget US$2.9M<br />
GoW Exploration
.'' PTAR<br />
MARTABE<br />
Kapur-Gambir District<br />
Multiple prospects, "campscale"<br />
play<br />
Quartz vein Au systems<br />
Complex structural<br />
controls<br />
Most have drilling, but are<br />
poorly understood<br />
Further work required<br />
Significant drill results to be followed up<br />
9.1 m @ 15.29 g/t Au and 1 1 .27glt Ag<br />
4.0m @ 47.1291t Au and 17.689/t Ag<br />
10.4m @ 13aglt Au and 5.079/t Ag<br />
21.1m @ 2.92glt Au and 1.059/t Ag<br />
31<br />
Kapur-Gambir D¡strict
Tani Hill<br />
PTAR<br />
MARTABE<br />
Large scale, possibly<br />
porphyry-related alteration<br />
at surface<br />
Resistivity high at surface<br />
- alteration<br />
Resistivity low and<br />
chargeability high at depth<br />
- possibly sulphide<br />
mineralised porphyry body<br />
Drill test planned<br />
32<br />
Tani H¡ll<br />
Tqni Hill Section 143.350 N - Resistivity<br />
Toni Hill Section 743.j50 N - Chorgeobility
PTAR<br />
MARTABE<br />
Tango Papa<br />
<strong>Martabe</strong> style alteration and<br />
rock samples<br />
Au up to 12.7 glt<br />
Baning<br />
Sediment-hosted Au (similar<br />
to Sihayo, Sepon)<br />
Rocks up to 4.7 glt Au<br />
Golf Mike<br />
<strong>Martabe</strong> style<br />
Southern Corridor & Rantu<br />
Panjang<br />
Po rp hyry-style affi n ities<br />
Recon naissance exploration<br />
undenruay<br />
33<br />
Other GoW Targets
Near Mine programmes underway and will be expanded<br />
CoW Exploration review completed, leading to target prioritisation and 2year<br />
exploration plan<br />
34