24 Nov

Investor Presentation

EXPLORING WORLD CLASS DISTRICTS GOLD – COPPER INVESTOR PRESENTATION – NOVEMBER 2021 DISCLAIMER AND FORWARD-LOOKING STATEMENTS This presentation has been authorised for release by the Board of Diablo Resources Limited. It is not a prospectus nor an offer of securities for subscription or sale in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions, investors should rely on their own examination of Diablo Resources Limited (Company) and consult with their own legal, tax, business and/or financial advisers in connection with any acquisition of securities or interest in the Lone Pine Gold Project and the Devil’s Canyon and Western Desert Gold-Copper Projects. The information contained in this presentation has been prepared in good faith by the Company. However, no representation or warranty, express or implied, is made as to the completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, the Company, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use of, or reliance on, anything contained in or omitted from this presentation. Certain information in this presentation refers to the intentions of the Company, but these are not intended to be forecasts, forward looking statements, or statements about future matters for the purposes of the Corporations Act 2001 (Cth) or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factors that may the Company’s actual results, performance or achievements to differ from those referred to in this presentation to occur as contemplated. The presentation contains only a synopsis of more detailed information available in relation to the matters described in this document and accordingly no reliance may be placed for any purpose whatsoever on the sufficiency or completeness of such information and to do so could potentially expose you to a significant risk of losing any of the property invested by you or incurring by you of additional liability. Recipients of this presentation should conduct their own investigation, evaluation and analysis of the business, data and property described in this presentation. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and you should satisfy yourself in relation to such matters. COMPETENT PERSON STATEMENT The information in this report regarding exploration results, exploration targets and the mineral resources is based on and fairly represents information compiled by Mr Gregory Smith, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Smith is a Director and shareholder of the Company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity 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 Ore Reserves’. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements. DISCLAIMER 2 2 HIGH-GRADE COUNTRY US-FOCUSSED EXPLORER NEAR PROLIFIC GOLD MINES Historic high-grade sampling and drilling Devil’s Canyon - Nevada • Rock samples: 191.5 g/t Au, 524 g/t Ag,16.05% Cu 1 Western Desert – Utah • Rock samples: 6.9 g/t Au, 1495 g/t Ag and 5.09% Cu 2 Lone Pine – Idaho Drill results: • 1.2m @ 17.0 g/t Au • 1.9m @ 12.9 g/t Au • open in all directions 3 3 3 $9.7M Market Cap at A$0.13 74.5m Shares on issue $6.0M Cash on hand DBO ASX ticker BARNABY EGERTON-WARBURTON – Non-Executive Director Currently the Non-Executive Chairman of Pantera Minerals Ltd and Arizona Lithium Ltd, and a Non-Executive Director of Lord Resources and Locality Planning and Energy Ltd, Barnaby has over 25 years of trading, investment banking, international investment and market experience with positions at JP Morgan, BNP Equities (New York) and Prudential Securities (New York). Barnaby holds a degree in economics and is a graduate of the Australian Institute of Company Directors. GREG SMITH – Non-Executive Director Currently a Non-Executive Director at BPM Minerals Ltd, Greg was also the vendor of Arizona Lithium’s Big Sandy Lithium Project. An experienced Geologist, Greg has worked over a wide cross section of minerals and countries including in North America, Australia, Asia and throughout Africa. Greg was the exploration manager for Moto Gold Mines Ltd, responsible for the discovery of 22.5 million ounces of gold in the Democratic Republic of Congo (Kibali Mine). He is a Member of the Australasian Institute of Mining and Metallurgy. LYLE THORNE – Chief Executive Officer Lyle is a geologist with over 29 years’ experience. Until late 2019, he was Exploration Manager for NTM Gold Ltd and led the team that significantly increased the gold endowment of the Company’s project and ultimately led to the merger with Dacian in 2020. He is a founder of Rincon Resources Ltd and BPM Minerals Ltd technical teams which listed ASX in Late 2020 and is a Member of the Australasian Institute of Mining and Metallurgy. BOARD AND MANAGEMENT THE TEAM BEHIND THE SUCCESSFUL BPM & PANTERA IPO’S PAUL LLOYD – Non-Executive Chairman Currently Managing Director of Arizona Lithium and Chairman of BPM Minerals, Paul is a Chartered Accountant with over 30 years’ commercial experience and operates his own corporate consulting business, specialising in the area of corporate, financial and management advisory services. Paul floated Beacon Minerals Ltd on the ASX in 2006 and has been responsible for a large number of IPOs, RTOs, project acquisitions and capital raisings for ASX listed public companies. 4 Team • Gavin Harrison (President) -16 years of industry experience. • Don Hamilton (Regulatory Specialist) - 20 years of industry experience. • Charlie Knowles (Senior Exploration Geologist) - 16 years of industry experience. Service and skills • Utah-based consulting firm with extensive knowledge and experience. • Planning, implementation and completion of exploration development programs, regulatory compliance, drilling services and drill program management using external contractors. • Exploration for commodities including uranium, vanadium, copper, manganese, potash, lithium, gold, silver, oil and gas exploration. • Fleet of track-mounted diamond drill rigs and support equipment tailored to remote exploration programs. • Involved with the Diablo Projects since the early stages with sound knowledge of the project history and logistics required to complete exploration moving forward. IN-COUNTRY MANAGEMENT TEAM HARRISON LAND SERVICES LLC – WESTERN US SPECIALISTS 5 COMPANY BACKGROUND EXPLORATION SUCCESS Western Desert Project Rock Chip Sample - 4.52 g/t Au, 2.63% Cu 1 • The Company is a spin out of the US Gold and Copper projects of Arizona Lithium Limited (AZL) formerly Hawkstone Mining Limited (HWK) • Diablo Directors have strong track record of identifying key projects and creating value for shareholders. • Technical Management Team have over 100 years combined exploration experience, with significant North American exposure. • All projects have been acquired after a rigorous evaluation process of numerous opportunities within North America, focussing on near surface drill ready prospects 4 . • Explore regions with projects located in highly prospective, world- class terrain. • Company making potential. • Focus on USA gold and gold-copper Projects. • Identify and complete systematic exploration at priority target areas utilising modern-day exploration techniques. • Target low-risk jurisdictions, Nevada, Idaho and Utah, USA ranked #1, #9 and #25 respectively by the Fraser Institute Annual Survey of Mining Companies 2020. • Drill ready targets at all projects. • Limited shallow historical drilling. • Significant opportunity to discover mineralised zones near surface. COMPANY STRATEGY MAXIMISE SHAREHOLDER WEALTH THROUGH TARGETED EXPLORATION 6 7 Aggressive Exploration planned at all projects COMPANY STRATEGY MAXIMISE SHAREHOLDER WEALTH THROUGH TARGETED EXPLORATION DEVILS CANYON 16 Year 1 (A$) Year 2 (A$) Total (A$) Geochemistry, geophysics and mapping 95,000 110,000 205,000 Drilling and assaying 600,000 1,100,000 1,700,000 Metallurgical and scoping studies 30,000 30,000 Total 695,000 1,240,000 1,935,000 WESTERN DESERT Year 1 (A$) Year 2 (A$) Total (A$) Geochemistry, geophysics and mapping 20,000 100,000 120,000 Drilling and assaying 700,000 1,150,000 1,850,000 Metallurgical and scoping studies 30,000 30,000 Total 720,000 1,280,000 2,000,000 LONE PINE Year 1 (A$) Year 2 (A$) Total (A$) Geochemistry, geophysics and mapping 35,000 35,000 Drilling and assaying 500,000 900,000 1,400,000 Metallurgical and scoping studies 30,000 30,000 Total 535,000 930,000 1,465,000 8 DEVIL’S CANYON & WESTERN DESERT GOLD-COPPER PROJECTS LOCATED IN PROLIFIC (195 Moz) CARLIN GOLD TREND • Two 100%-owned old exploration projects located in Nevada and Western Utah, USA. • Devil’s Canyon Gold Project consists of 90 claims covering 7km 2 lying 20km west of the Kinross Bald Mountain Gold Mine (5.9Moz) in the prolific Battle Mountain- Eureka Trend (Carlin Gold Trend) and 40km north of the Ruby Hill Mine, Nevada. 5 • Western Desert Gold Project consists of 258 claims and 1 state lease covering 25km 2 located north of Wendover, Utah, and 50km east of the Newmont owned, Long Canyon Mine with resources of 2.3Moz of gold. 6 • Both Projects acquired at minimal cost, the result of the Company identifying priority target areas in highly endowed mineral districts. 9 Located in the 195 Moz Carlin Trend, Nevada, USA • Minimal modern-day exploration, limited shallow drilling completed in 1980’s • Diablo high-grade rock chip sampling results: • 191.5 g/t Gold • 524 g/t Silver • 10.25% Copper 7-8 • Initial Vendor rock chip sampling returned high-grade results including: • 92.2 g/t Gold • 1.23% Copper within Target T1 9 • Due diligence sampling proximal to the margin of the intrusive returned similar results with peak grades of: • 16.05% Copper • 173 g/t Silver • 2.65 g/t Gold 10 DEVIL’S CANYON GOLD-COPPER PROJECT INTRUSIVE RELATED AU-CU-AG MINERALISATION 10 Switchback Ridgeline Eastside Southside Rock sampling in late 2020 identified four distinct mineralised zones, associated with structural targets: Ridgeline • Gold ranging 1.12g/t - 191.5 g/t • Silver ranging 22.1g/t – 524 g/t • Copper ranging 0.54% - 10.25% corresponding to Target T1 11 Eastside • Gold ranging 0.9g/t - 7.15 g/t • Silver ranging 32.6g/t – 174 g/t • Copper ranging 1.32% - 6.14% parallel to Target T3 Switchback • Copper ranging 0.22% - 4.41% • Silver ranging 0.6 g/t - 63.6 g/t on southern contact of magnetic high Southside • Copper ranging 0.40% - 7.74% • Silver ranging 0.60 g/t - 30.1 g/t correlating with Targets T5 & T6 DEVIL’S CANYON GOLD-COPPER PROJECT INTRUSIVE RELATED MINERALISATION 11 Switchback DEVIL’S CANYON PROJECT EXPLORING FOR WORLD CLASS GOLD-COPPER DEPOSITS • Rock Sample results and reconnaissance mapping suggest two potential styles of mineralisation resulting from multiple intrusive and mineralising phases 12 • Airborne magnetic survey identified geophysical features interpreted to represent: • Magnetite skarn alteration at lithological contacts and along structures • Zones of magnetite destruction possibly related to later mineralizing events • Soil geochemistry and detailed geological mapping is planned for Q2 2022 • Maiden drill program budgeted and finalized, permitting and logistics planning underway 12 Cu Oxide Mineralisation in old prospecting pit 12 WESTERN DESERT GOLD-COPPER PROJECT EXPLORING IN UNTESTED NEW REGIONS Western Desert Gold Project covers similar geology as Newmont/Barrick 2.3Moz Long Canyon Gold Mine, located 50km to the west 13 • 11 geological/structural targets on basis of geology, sampling and multi element geochemistry. Several areas of old diggings never systematically explored • Rock chip sampling of outcropping mineralisation and old workings within the Project area returned high grade results including: • Gold to 6.92 g/t • Copper to 5.09% • Silver to 1,495 g/t • Lead to >20% 14 • Infill stream sediment sampling completed in 2020, anomalous zones identified • Ground magnetic and gravity surveys completed, with targets identified • Drilling of targets to commence in Q4 2021 at Copper Blossom, Taco, A3 & A6 13 13 Priority targets at Western Desert • 100% interest in the historical high-grade Lone Pine Gold Project • Minimal modern day exploration • Shallow drilling in 1990’s at King Solomon (18 holes) 15 • Increased the landholding at Lone Pine to 272 claims (incl. 2 patented) covering an area of 20.23km 2 , securing further highly prospective areas • Beartrack Mine , located 8 km west of the Lone Pine Gold Project is presently being explored by TSX listed Revival Gold Inc. Total resource stands at 3Moz Au 16 LONE PINE GOLD PROJECT HISTORICAL HIGH-GRADE GOLD PROJECT 12 14 3 • Mined prior to 1907 via 6 adits at 30m vertical intervals the longest of which, Adit # 6 is 365m in length • Gold mineralisation has been traced over 600 metres and remains open at depth and to the northeast and southwest along strike • Maiden drilling at the Lone Pine Vein Zone in 2020 confirms high grade and excellent geological continuity: • 17.02 g/t Au over 1.22m in LPDD01 incl. 65.6 g/t Au over 0.31m • 19.6 g/t Au over 0.45m in LPDD006 • 7.06 g/t Au over 2.63m in LPDD07 incl. 1.37m @ 13.23 g/t Au • 12.93 g/t Au over 1.91m in LPDD08 incl. 29.7 g/t Au over 0.82m • 10.39 g/t Au over 0.86m in LPDD11 17 • Shallow trenching returned high grades including: • 9.38 g/t Au over 1.83m • 20.32 g/t Au over 0.91m LONE PINE VEIN ZONE HIGH GRADE ZONE AT SURFACE- NEVER DRILLED 15 15 3 REGIONAL EXPLORATION – LONE PINE GOLD PROJECT REGIONAL POTENTIAL FOR MULTIPLE ZONES High-grade results from 2020 regional rock chip - mapping include: A drone magnetic survey was recently completed and identified regional targets Sample ID Au g/t Location KS20032 92.70 King Solomon Workings KS20018 69.50 King Solomon Workings LP113 24.70 2.1km S King Solomon LP114 19.60 2km S King Solomon LP093 8.15 4.4km SE King Solomon LP097 19.90 4.4km SE King Solomon LP082 6.30 3.6km E King Solomon LP056 22.10 1km W Lone Pine LPGK20002 13.95 200m W Lone Pine LP071 15.70 Between Lone Pine and King Solomon 18 16 WESTERN DESERT GOLD-COPPER PROJECT Maiden Drill Program and Results Q4/2021 – Q1/2022 DEVIL’S CANYON GOLD-COPPER PROJECT Surface Geochemistry, Geological Mapping Q2/2022 Maiden Drill Program and Results Q2/Q3 2022 LONE PINE PROJECT Drilling Lone Pine & King Solomon Mineralised Zones & Results Q2/Q3 2022 Regional Surface Geochemistry & Results Q3/2022 NEWSFLOW CATALYSTS NEXT STEPS 17 For further information: Paul Lloyd (Chairman) pl@diabloresources.com.au Lyle Thorne(CEO) lt@diabloresources.com.au Level 1, 10 Outram Street West Perth WA 6005 ASX:DBO | diabloresources.com.au APPENDIX ASX REFERENCES 19 1 ASX Announcement, Hawkstone Mining Ltd. Acquisition of Western Desert Gold - Copper Project, Utah, USA-Hawkstone Mining Ltd (16/03/2020) 2 ASX Announcement, Hawkstone Mining Ltd. Acquisition of Carlin Trend Gold Project Hawkstone Mining Ltd (07/10/2020) 3 ASX Announcement, Hawkstone Mining Ltd. High Grade Gold and Copper Results at Devil’s Canyon Gold Project, Nevada (02/12/2020) 4-5 ASX Announcement, Acquisition of Western Desert Gold - Copper Project, Utah, USA-Hawkstone Mining Ltd (16/03/2020) 6 ASX Announcement, Acquisition of Carlin Trend Gold Project Hawkstone Mining Ltd (7/10/2020) 7 ASX Announcement, Hawkstone Mining Ltd. High Grade Gold and Copper Results at Devil’s Canyon Gold Project, Nevada (2/12/2020) 8 ASX Announcement, Hawkstone Mining Ltd. Devil’s Canyon Gold Project High Grade Assays to 191.5 g/t Gold (1/02/2021) 9 ASX Announcement, Hawkstone Mining Ltd. Acquisition of Carlin Trend Gold Project With Samples up to 92 g/t Gold (7/10/2020) 10 ASX Announcement, Hawkstone Mining Ltd. Target A1 Identified Over 92.2 G/T Gold Rock Chip Sample At Devil’s Canyon Gold Project (23/10/2020) 11 ASX Announcement, Hawkstone Mining Ltd. Target T1 Identified Over 92.2 g/t Gold Rock Chip Sample At Devil’s Canyon Gold Project (1/02/2021) 12 ASX Announcement, Hawkstone Mining Ltd. 191.5 g/t Gold, 524 g/t Silver & 10.25% Copper, Spectacular Results From Devil’s Canyon Gold Project (1/02/2021) 13 Source: https://miningdataonline.com/property/100/Long-Canyon-Mine.aspx 14 ASX Announcement, Hawkstone Mining Ltd, 950% increase in Western Desert Copper-Gold Project. (03/07/2021) 15 ASX Announcement, Hawkstone Mining Ltd, Acquisition of Historical High Grade Lone Pine Project (3/02/2020) 16 Revival Gold Presentation (05/20/2020) 17 ASX Announcement, Hawkstone Mining Ltd, Final Drill Results Confirm Lone Pine High Grade Potential (25/11/2020) 18 ASX Announcement, Hawkstone Mining Ltd, High Grade Rock Chip Samples up to 24.7g/t Au Identify Further Mineralised Zones (9/12/2020) 19 ASX Announcement, Hawkstone Mining Ltd, Notice of Meeting & Proxy Form (04/08/2021)
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