24 Nov

2021 AGM Shareholder Presentation

ASX Announcement 24 November 202 1 AGM Presentation Castile Resources Limited ( ASX:CST ) ( Castile or the Company ) advis e s that the Co mpany will give a presentation at the annual general meeting today . T he presentation is attached to this announcement. The Company will a lso provide an update in respect to the Rover 1 project as set out in the video presentation available on the Company ’ s website at : https://www.castile.com.au/projects/rover - project/ This announcement has been authorised by the Board of Castile Resource s Limited . For further information pleas e contact: Sebastian Andre info@castile.com.au www.castile.com.au Castile Resources Limited Buried Treasure in the Territory 2021 AGM Shareholders Update www.castile.com.au Compliance & General Disclaimer 2 COMPETENT PERSONS STATEMENTS The information in this report that relates to Exploration Results and Mineral Resources and Exploration Data is based on, an d f airly and accurately represents, information and supporting documentation compiled by Mr. Jake Russell B.Sc. (Hons) MAIG and Mr Mark Savage who each have sufficient experience which is relevant to the styles of mineralisation, t he types of deposit under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and O re Reserves (JORC 2012)”. Mr Russell is a Member of the Australian Institute of Geoscientists and is a Director of Castile Resources Limited and is eligible to and may participate in any short - term and long - term incentive plans of the Company as disclosed in its annual reports and disclosure documents. Mr Savage is a Member of The Australasian Institute of Mining and Metallurgy and a full time employee of Castile. Mr Russell and Mr Savage each consent to the inclusion in this report of the matters based on this information in the form and context in which it appears. GENERAL DISCLAIMER This presentation has been prepared by Castile Resources Limited. It should not be considered as an offer or invitation or in duc ement to subscribe for the purchase of any securities in the Company. This presentation may contain forecasts and forward - looking statements. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied. Castile has not audited or investigated the accuracy or completeness of the information, statemen ts and opinions contained in this presentation. Accordingly, to the maximum extent permitted by applicable laws, Castile makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, an d take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission, from any information, statement or opinion contained in this presentation. This overview of Castile does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the informati on, statements and opinions contained in this presentation before making any investment decision. The information in this presentation is general in nature and does not purport to be complete. This presentation is not a pro spe ctus, disclosure document or other offering document under Australian law or under the laws of any other jurisdiction. This presentation is provided for information purposes and does not constitute an offer, invitation, indu cem ent or recommendation to subscribe for or purchase securities in Castile Resources in any jurisdiction. PREVIOUSLY REPORTED INFORMATION This presentation refers to information previously announced to the ASX, including mineral resource estimates and exploration re sults announced to the ASX on 12 February 2020 in its Prospectus dated 3 December 2019, and exploration results announced to the ASX on 14 and 20 October 2020 and also on 2 November 2020 and ASX:CST Announcement 26 No vem ber 2020 “Castile Resources Drilling Program Update” and ASX Announcement 24 May 2021 “High Grade Gold and Copper Results in Drilling at Rover 1”, ASX Announcement 2 June 2021 “30g/t Gold and 4% Copper In A ssa ys From Rover 1”, ASX Announcement 29 June 2021 “Latest Hits Expand High Grade Gold Zone at Rover 1”, ASX:CST August 23, 2021 “More Bonanza Gold Hits Expand Rover 1”, ASX:CST August 30, 2021 “Spectacular Copper Hits a t R over 1”, September 3, 2021 “ASX:CST Outstanding Metallurgical Results from Rover 1”, ASX:CST October 12, 2021 “Castile Resources Drilling Program Update” and ASX:CST November 19 2021 “Additional Environmentally Sustain abl e Product at Rover 1” The Company confirms that it is not aware of any new information or data that materially affects the information included in the or iginal market announcements or this presentation, and that all material assumptions and technical parameters underpinning the mineral resource estimates continue to apply and have not materially changed. This presentation was released on 24 November 2021 and was authorised for release by the Board of of Castile Resources Limited Castile Resources Limited – Level 7, Ashton Chambers, 189 St Georges Terrace, Perth WA 6000. www.castile.com.au 3 Strong Cash Position for Exploration and Development Western Zone Jupiter Deeps Zone ASX Code CST Shares on Issue 199.7M Share Price A$0.23 Market Cap A$46M Cash as at 30/09/21 A$8.9M 202 1 Resource Definition Drilling Completed at Rover 1 www.castile.com.au 4 The Rover Mineral Field Surrounding Infrastructure and Resources Gas, Rail, Road and Commercial Airport within a rich Prolific Goldfield Region 57kms Explorer 108 Explorer 142 Rover 1 6.9Mt 1.74g/t Au, 1.20% Cu, 0.06% Co & 0.14% Bi The Company refers to the mineral resource estimates contained in this presentation as sourced from its Prospectus dated 3 Decem ber 2019 and released on the ASX on 12 February 2020 and confirms that it is not aware of any new information or data that materially affects the mineral resource estimates inc luded in the Prospectus. Rover 3 Potential for Multi – Deposit Strategy Beginning with the Rover 1 Project Tennant Creek Adelaide to Darwin Railway Stuart Highway Rover 4 Amadeus Gas Pipeline www.castile.com.au 5 Gold Intercepts 10m @ 47.97g/t Au from 471m in R1ARD41 - 1 7m @ 125.93 g/t Au from 542m in WGR1D034 20m @ 32.61 g/t Au from 469m in WGR1D003 23m @ 13.22 g/t Au from 833m in WGR1D059 - 2A1 22.75m @ 21.89 g/t Au from 499m in WGR1D002 - 5 12m @ 58.40 g/t Au from 555m in WGR1D002 - 5 Copper Intercepts 21m @ 6.86% Cu from 469m in WGR1D011 27m @ 4.75% Cu from 429m in WGR1D024 - 1 27m @ 3.26% Cu from 935m in WGR1D055 - 1 30.2m @ 4.46% Cu from 827m in WGR1D059 - 2A1 42m @ 4.10%Cu from 360m in R1ARD30 29m @ 3.60% Cu from 399m in WGR1D034 - 1 Rover 1 – A Spectacular High Grade Gold Copper (IOCG) Deposit The Company refers to the exploration results contained in this presentation as sourced from its Prospectus dated 3 December 201 9 and released on the ASX on 12 February 2020, and confirms that it is not aware of any new information or data that materially affects the exploration results information incl ude d in the Prospectus Rover 1 Typical Tennant Creek high grade Iron Oxide Copper Gold (IOCG) deposit Castile is currently completing a PFS on the Rover 1 Deposit Over 85,000 metres of drilling and a Scoping Study has been completed by previous owners By - products include cobalt, bismuth , silver and coal washing magnetite www.castile.com.au 6 Rover 1 – 2021 Resource Definition drilling nearing completion 2021 Rover 1 Drilling Program Highlights from Castile Drilling Program Jupiter West 200m x 100m x 12m Jupiter Deeps 125m x 180m x 15m Jupiter 250m x 180m x 20m Holes 1, 2 & 3 and Daughters Complete Parent Hole 5 and 4 Daughters Complete 1 2 3 5 Vertical Depth 850m Vertical Depth 300m Hole 20CRD001 30.4m @ 35.6 g/t Au with 1.46% Cu inc 13.2m @ 76.27g/t Au with 1.16% Cu Hole 21CRD001A 31.7m @ 8.6g/t Au with 0.8% Cu inc 11.5m @ 17.2 g/t Au with 1.1% Cu Hole 21CRD005 42.2 m at 3.5% Cu with 2.1g/t Au inc 13.5 m at 7.5% Cu with 4.5g/t Au inc 2.5m at 12.9% Cu with 16.5g/t Au Open at Depth www.castile.com.au 7 Density Modifying Industrial Mineral (Coal Washing) Used in Chemicals and Medicines Lead replacement Battery Mineral Utilised for Lithium - ion batteries . Gold Copper Magnetite Cobalt Bismuth Key Minerals and a Density Modifying Industrial Mineral Magnetite Product Peko Rehabilitation Project Ltd was the most recent company to export a coal washing magnetite product from Tennant Creek to Ind ia Key Minerals By - Products Proposed mining shapes for magnetite, gold and copper www.castile.com.au 8 Rover 1 – Metallurgical Testing Confirms Additional By - Products Commodity Gold Copper Cobalt Bismuth Gravity Recovery 21.4% Bulk Flotation Recovery 72.4% 97.8% 88.0% 89.7% RECOVERY 93.8% 97.8% 88.0% 89.7% Metallurgy Testing supervised by METS Engineering in ALS Laboratories Gravity and Bulk Flotation Recovery Bulk Flotation Recoveries Rover 1 Proposed Mining Schedule www.castile.com.au 9 Industrial Mineral Magnetite By - Product at Rover 1 Sample Magnetite Fe 3 O 4 % Al 2 O 3 (%) SiO 2 (%) Total Fe (%) FeO (%) SG P 60 53mm Concentrate 96.6 0.33 2.99 66.0 28.8 4.8 P 95 53mm Concentrate 96.4 0.26 2.05 67.3 30.1 4.9 Testing was supervised by METS Metallurgy and performed by ALS Laboratories according to Australian Standard 4156.3 - 2008 (Coal Preparation, Part 3 L Magnetite for coal preparation plant use – Test Methods) Rover 1 Test Results Rover 1 can produce a saleable high - grade density modifying industrial mineral to the following specifications: Magnetite is used to produce a dense medium separation slurry for coal washing, mineral processing and recycling of metals an d p lastics . Standard Industry Classifications and Specifications Maxfine Grade 96 - 99% – Passing 45 micron 98 - 100% – Passing 53 micron Ultrafine Grade 90 - 95% – Passing 45 micron 95 - 99% – Passing 53 micron www.castile.com.au 10 Rover 1 – Potential for Environmentally Sustainable Mining Rover 1 Mining Studies are analysing the possibility of solar power options for the processing plant and an electrified underground haulage mining fleet Sandvik LH518B, 18t Underground Battery Powered Loader Epiroc MT42 Battery Powered 42t Underground Truck Solar Farm Utilising HVDC Cables www.castile.com.au 11 Strong NT Government Support and Community Engagement NT Chief Minister The Hon. Michael Gunner Site Visit NT Mining Minister The Hon. Nicole Manison Site Visit MLA for Barkly Region Steve Edgington and Deputy Mayor of Tennant Creek Ronald Plummer Site Visit Castile has donated Sporting Equipment to all schools within the entire Barkly Region www.castile.com.au 12 Regional Targets Prepared and Scheduled for DHEM 46kms ROVER 1 Resource Definition Drilling for PFS continues EXPLORER 108 1 NEW EXPLORATION HOLE TO BE DRILLED, 3 HOLE CLEANOUTS Existing Resource of 11.8Mt 3.2% Zn , 2.00% Pb, 11.1g/t Ag and 5.7Mt @ 0.36% Cu EXPLORER 142 1 HOLE EXTENSION TO BE DRILLED Existing Resource of 176Kt @ 5.2% Cu ROVER 3 Further EM assessment 2021 Drilling Program for Regional Targets ROVER 4 1 NEW EXPLORATION HOLE TO BE DRILLED www.castile.com.au 13 Explorer 108 Copper Feeder Zones make up the existing Mineral Resource of 5.7Mt @ 0.36% EM Probe to go down hole into NR108D026 at Explorer 108 to survey for anomalies beneath the lead/zinc deposit Explorer 108 – The Treasure Hunt for the Primary Copper Source Explorer 108 - Copper Feeder Zones surrounding the huge lead/zinc deposit – where is the copper coming from? The primary copper source at Mt Isa was discovered beneath the lead/zinc deposit Current Resource at Explorer 108 11.8Mt 3.2% Zn, 2.00% Pb, 11.1g/t Ag with 5.7Mt 0.36% Cu Explorer 108 and Mt Isa are 700kms apart and share the same Tectonic Setting, Host Rocks, Structural Controls and Mineralisation Style with the Primary Copper source situated beneath the lead/zinc deposit EM Probe to survey Hole NR108D026 *Comparison between Explorer 108 (A) and Mt Isa (B). Mt Isa simplified section from McLellan et al (2014). A B Mt Isa Simplified Section www.castile.com.au 14 Explorer 142 – DHEM to survey and drill test for Gold Anomalies EXPLORER 142 ROVER 1 Explorer 142 Resource: 176kt @ 5.2% Cu Similar size and geophysical properties to Rover 1 2021 drilling designed to explore for the gold cap at Explorer 142 ROVER 1 Hole NR142DD003 clean out complete for DHEM Targeting Gold structures www.castile.com.au 15 Experienced Board & Management Peter Cook Non - Executive Chairman Mr Cook is a geologist BSc (App Geol 1983), mineral economist (MSc Min Econ 1995 WASM) and highly experienced veteran of the Aus tralian resource sector. He is currently the Managing Director of Westgold and has more than a decade of association with the Company and its assets. Mr Cook has substantial exper ien ce in the exploration, development, mining, construction, permitting and financing of development projects within Australia as well as the corporate management of listed public entiti es. Mark Hepburn Managing Director Mr Hepburn has a degree in Economics and Finance ( B.Econ . & Fin 1992 UWA) and has been a member of the Australian Institute of Company Directors since 2008. He has significant experience in institutional stockbroking, corporate transactions and the management and corporate development of public compa nie s. He brings 28 years of substantial financial markets experience in the resources sector to Castile Resources. Mr Hepburn is also a Non - Executive Director of ASX listed lithium and g old explorer Firefinch Limited after an acting role as CEO where he oversaw the company’s refinancing and corporate re - structuring. He was also on the board of ASX listed Indonesian gold developer Sihayo Resources until November 2018. John Braham Non - Executive Director Mr Braham is an experienced Mining Finance and Investment professional having a 24 - year career with Macquarie Bank until 2017. F or the last 11 years of his service, he was an Executive Director and co - head of Macquarie’s Global Mining and Finance Division. Mr Braham has vast experience in the provision of debt and equity to mining, exploration and development companies, worldwide. Mr Braham brings Castile a set of finance and corporate skills to greatly assist with its future financ ing and development needs. Since November 2018, Mr Braham has served as Managing Director of the ASX listed and South American focused Equus Mining Limited and is currently an NT Government Mineral Task Force Member. Jake Russell Non - Executive Director Mr Russell is a geologist B.Sc. (Hons) MAIG with circa 20 years of experience in exploration, mining, resource development an d m anagement. He is currently the group Chief Geologist of Westgold Resources Limited and prior to its demerger from Metals X Limited, he was the Group Chief Geologist of Metals X Limi ted . Mr Russell brings Castile a second to none knowledge of the assets of Castile and a high degree of technical expertise in their exploration, resource development and exploitation. Michael Poepjes Mining Engineer Mr Poepjes is a Mining Engineer (B Eng ) a Mineral Economist (MSc [Min Econ]) and holds a Master’s Degree in Business Administration (MBA). Mr Poepjes has over twen ty years of experience in the mining industry working in gold, copper and tin across Australia in both Corporate and Operational roles. Mr Poepjes pre vious role was the Chief Operating Officer for Millennium Minerals. Prior to Millennium Minerals, he was the Group Mining Engineer for Metals X (which included the Westgold and Castil e a ssets) for seven years. Mark Savage Geology Manager Mr Savage is a geologist B.Sc. (Hons) MAusIMM with more than 20 years of experience in exploration, resource development and mining brings a wealth of experience to Castil e having worked previously for Metals X, RNI and Apex Minerals on pre - development assets. www.castile.com.au 16 Investment Highlights Castile Resources - The ASX's Newest Gold Copper Explorer & Developer 1. Extensive portfolio in the highly prolific Tennant Creek gold copper province region in the Northern Territory 2. Strategic focus on exploration & development at Rover 1 with experienced Board & Management • Fully funded 10,000m of drilling planned for 2021 with Resource Definition and high impact exploration targets • High - grade gold/copper polymetallic orebody at Rover 1 now includes significant high value magnetite product • Ongoing Pre - Feasibility Study at Rover 1 now includes significant high value magnetite product • Opportunities for Environmentally Sustainable Mining with a Solar Powered Plant and Electrified Mining fleet • Regional “Hub and Spoke” Strategy underway as DHEM begins on Castile owned nearby deposits with existing resources 3. Significant Upcoming News Flow: • September to December 2021 - Ongoing Drilling Results from Rover 1 and regional targets • December 2021/March Quarter 2022 – Preliminary Mining Studies and Pre - Feasibility Studies Results www.castile.com.au www.castile.com.au 18 Mineral Resource Statement The Company refers to the mineral resource estimates contained in this presentation as sourced from its Prospectus dated 3 Decem ber 2019 and released on the ASX on 12 February 2020 and confirms that it is not aware of any new information or data that materially affects the mineral resource estimates inc luded in the Prospectus.
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