RESOURCES INC. TSX-V: ORX

Transcription

1 RESOURCES INC. May, 2013

2 This presentation has been prepared as of May 24, 2013 and contains forward-looking statements relating but not limited to the Company s expectations, plans, intentions and beliefs, under the provisions of Canadian provincial securities laws. Forward-looking information can often be identified by forward-looking words such as anticipate, believe, await, expect, hope, goal, planned, intent, estimate, may, forecast and will or similar words suggesting future outcomes or other expectations, beliefs, plans, objectives, assumptions, intentions, comments or statements about future events or performance. Forward-looking information may include statements regarding the estimation of mineral resources, historical and current exploration results, potential mineralization, potential mineral resources and mineral reserves, historical non-compliant pre drilling results, and is based on current expectations that involve a number of business risks and uncertainties, many of which are beyond Orefinders Resources Inc. s ability to control or predict. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of mined ore varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in the price of gold and other commodity prices, poor market conditions, delays in the development of projects and other factors. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results that could impede planned business objectives for the Company. Potential shareholders and prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other unpredictable factors that could cause actual results to differ materially from those suggested by the forward-looking statements, and undue reliance should not be placed on such statements and information. Shareholders are cautioned not to place undue reliance on forward-looking information since forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific. These same assumptions, risks and uncertainties contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Orefinders Resources Inc. undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. All currency numbers are reported in Canadian dollars unless otherwise indicated. All scientific or technical information contained on this website has been reviewed and approved by William Yeomans, P.Geo, the President of Orefinders Resources Inc., who is a "qualified person" as defined in National Instrument of the Canadian Securities Administrators. 2

3 Bill Yeomans, P. Geo President, CEO and Director A gold exploration professional with over 27 years of experience in all stages of gold exploration throughout the Americas. Currently a director for Xmet Inc. with extensive exploration and management experience with junior and major mining companies including BHP and IAMGOLD Stuart W. Rogers CFO and Director Has served as an officer and/or director of technology and resource companies listed on the TSX-V, TSX, and NASDAQ since1987. Founder and former CFO of Prophecy Resource Corp Stephen Dulmage - Director A capital markets and finance professional with over 10 years experience specialized in asset evaluation, planning and operations management Adam Travis, B.Sc. Geology - Director Currently President and CEO of Colorado Resources Inc. Alex Stewart, B.A., J.D. Chairman and Director A former corporate/securities lawyer with over 35 years experience in the financial and public markets Stephen Stewart, MBA, M.Sc. VP Corporate Development MBA from U of Toronto, M.Sc. from U of Florida, with 10 years experience in mining and real estate Kevin E. Piepgrass, P. Geo, B.Sc. Geology VP Exploration Experience in managing and advancing exploration projects toward feasibility and mining in North and South America and East Africa 3

4 $1.57 $0.10/share (Directors, Management & Associates) 15.7 million shares (33%) Vendor of Mirado and Derlak Projects (Micon Gold Inc.) (30%) Micon Gold Inc. is an unlisted reporting company formed from the amalgamation of Brenbar Mines Ltd., Concopper Enterprises Inc. and Mirado Nickel Mines Limited on January 1, million shares Founders Shares 7.5 million shares (16%) $3.0m $0.50/share $3.7m Flow-Through $0.55/share (free trading April 18/13) 6 million shares 3.7 million shares Total Shares In escrow (included above) 21.1 million shares Total Issued 47.1 million shares Warrants 1,400,000 at $0.50 to April 3, 2017 (escrowed) 291,000 at $0.50 to June18, 2014 (escrowed) 679,000 at $0.50 to June 18, 2014 Options 3,275,000 at $0.50 to April 3, 2017 Estimated Cash Upon Closing Estimated Cash After Year 1 Program Fully Diluted 52.8 million shares CAD $ 5.2 million CAD $ 1.7 million 4

5 Gold projects in two of Canada s most prolific gold camps: Kirkland Lake camp (>40M oz Au past production) Red Lake camp (~25M oz Au past production) Mirado property is an advanced stage gold project located approx. 13km south of the Larder Lake Cadillac Fault South Break Property covers a strike length of 4km along the highly prospective structure Derlak Red Lake located1800m NE along strike from Claude Resources Inc s Madsen mine 5

6 Abitibi Greenstone Belt ( Ga) >200M oz Au mined along PDF-LLCF 100M oz Reserves Kirkland: 50M oz Au in production to date > $200M in exploration in Kirkland Lake gold camp for 2012 Volcanics and tuffs south of LLCF remain underexplored 6

7 12 patented claims covering 432 acres and an additional 10 staked claims covering 1880 acres (MZ) Bulk tonnage gold potential was completely ignored large sections of core not sampled >40,000m of historical surface and U/G drilling between * Four levels of underground workings developed to maximum depth of 150m Historic metallurgical work reported 95% Au recovery using direct cyanidation Favorable Bond Work Index reported (Dynatec, 1986) due to low silica Historic Environmental Baseline Study raised no concerns Dynatec Mining 7

8 North Zone South Zone Over 8400m of new diamond drilling (27 DDH s) now completed since January 2013, with encouraging results Several bonanza grade gold zones have been intersected; MD13-06, 9.88 g/t Au MD13-12, 10.6 g/t Au MD13-19, 8.1 g/t Au Broad Au zones near surface; MD13-01, 1.19 g/t Au MD13-03, 1.33 g/t Au MD13-06, 1.46 g/t Au MD13-15, 1.80 g/t Au 8

9 South Zone North Zone Newly discovered gold zone! Deep IP Chargeability extends potential mineralization to >600m depth 9

10 South Zone North Zone Well mineralized bulk tonnage potential in the south zone Limited drilling in north zone Many geophysical targets remain untested 10

11 Chargeability mv/v Chargeability mv/v Excellent correlation between IP Chargeability and Au-bearing Agglomerates and Tuffs intersected in diamond drill core and mapped on surface Recent IP Geophysics outlines large, mostly untested chargeability anomaly and indicates potential Au mineralization open in all directions 11

12 Historic Open Pit Mining overview Sampling of stockpile from Mirado Pit now underway 12

13 Past metallurgical test work indicate a low work index of 13.78, classified at 200 mesh Recent petrographic study indicate rock type as Latite (volcanic equivalent to Monzonite) which contains virtually no quartz Gold recovery with direct cyanidation using 0.4 kg/t NaCN and 0.3 kg/t CaO extracted 95% Au Gold recovery from a combined gravity concentration and flotation was 94.4% Gold recovery from selective flotation test work was 89.0% 33.8% of gold was free at 95% minus 200 mesh Samples were sourced from 350 kg of drill core Test work completed by Lakefield Research Ltd

14 Mirado Development Timeline IP Geophysical Survey Initial Twin Drilling & Prospecting Program Exploration & Target Drilling Q Q Q Q Q Q ,847m 6,000m (Completed) (Completed) 3500m DD Completed 5000m DD Completed Budget $200,000 $560,000 $800,000 Resource/Infill Drilling 3500m Diamond Drilling $560,000 First Nations Comunication Environmental Baseline Study - $100,000 Metallurgical Testwork $50,000 Resource Estimate (NI ) $50,000 Q Q Q Q Q Q $2,320,000 Estimated timeline toward achieving first NI Resource Estimate 14

15 South Break project located 8km from Larder Lake Town Patented and staked claims cover 4km of the highly prospective and under explored South Break structure Land package adjacent to Osisko to the north and flanked by the Trans- Canada Highway Historic drilling from 1949 intersected 2.08 oz/t Au over 8 feet at 50 depth (considered historical and is unverified) 15

16 Exploration on the South Break has begun as of May,

17 Madsen Headframe from Derlak Property Derlak Red Lake consists of 11 contiguous patented claims covering ~542.1 acres Property located within the Red Lake Greenstone Belt NW Ontario, <5km SW of Red Lake Town and 1800m NE, along strike of the past producing Madsen Mine 17

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20 Ability to complete drill program for a preliminary estimate within 12 months in the mining friendly jurisdiction of Kirkland Lake diamond drilling at Mirado has been successful in defining high-grade gold mineralization within broad, near surface gold zones The South Break property accessibly via Trans-Canada Hwy, covers 4km of favourable geology for hi-grade gold mineralization at low exploration costs The Derlak Red Lake project is strategically located 1800m NE along strike of the Madsen Mine, presenting the potential for new business opportunities All gold properties are situated on patented claims. Orefinders can earn 100% interest in surface and mining rights in gold camps with infrastructure Attractive deal structures provide a direct path to 100% ownership on all properties through low annual cash payments and exploration expenditures 20

21 Mirado - Kirkland Lake Cash Payments $25,000 on signing $50,000 on or before 1 st $75,000 on or before 2 nd Work Commitments $300,000 expenditure before 1 st $500,000 expenditure before 2 nd $1,200,000 expenditure before 3 rd Terms for 100% Buyout of 3% NSR 3% NSR of which 1% can be purchased for a total payment of $1,000,000 2 nd percent purchase for $2,000,000 3 rd percent purchase for $3,000,000 MZ Property Kirkland Lake Cash Payments $20,000 on signing $25,000 on or before 1 st $25,000 on or before 2 nd $25,000 on or before 3 rd $40,000 on or before 4 th Work Commitments $50,000 expenditure before 1 st $75,000 expenditure before 2 nd $100,000 expenditure before 3 rd $200,000 expenditure before 4 th Terms for 100% Buyout of 2% NSR 2% NSR of which 1% can be purchased for a total payment of $1,000,000 2 nd percent purchase for $2,000,000 21

22 Yost South Break Cash Payments $50,000 on signing $50,000 on or before 1 st $75,000 on or before 2 nd $100,000 on or before 3 nd Work Commitments $200,000 expenditure before 1 st $350,000 expenditure before 2 nd $350,000 expenditure before 3 rd Terms for 100% Buyout of 2% NSR 2% NSR which can be purchased for $2,000,000 Misema South Break Cash Payments $15,000 on signing $15,000 on or before 1 st $15,000 on or before 2 nd $15,000 on or before 3 rd $20,000 on or before 4 th Shares 80,000 over 4 years Work Commitments $50,000 expenditure before 1 st $50,000 expenditure before 2 nd $50,000 expenditure before 3 rd $50,000 expenditure before 4 th Terms of 2% NSR 2% NSR of which 1% can be purchased for a total payment of $1,000,000 The vendor retains 1% NSR 22

23 Derlak Red Lake Cash Payments $10,000 on signing $20,000 on or before 1 st $30,000 on or before 2 nd Work Commitments $200,000 expenditure before 1 st $300,000 expenditure before 2 nd $500,000 expenditure before 3 rd Terms of 3% NSR 3% NSR of which 1% can be purchased for a total payment of $1,000,000 2% NSR retained by Vendor 23

24 IAMGOLD Doyon-Westwood Au Mine Geology and Mineralization Amax Minerals Exploration Mirado Project Diamond Drilling Report Golden Shield Resources Limited Mirado Project Drilling Report Golden Shield Resources Limited Mirado Project Summary Report Claude Resources Inc. Mineral Resource Estimation Madsen Deposit /n%3A%5CClientServices%5CMiguel%5CPDF%5CClaudeTechReport.pdf Claude Resources Inc. Powerpoint Presentation June