24 Nov

AGM Presentation - Complete

Middle Island Resources Barkly Copper Gold Focus Annual General Meeting – November 2021 Exploring for Copper in Elephant Country 2 2 AGM Resolutions For Against Discretion Resolution 1 Adoption of Remuneration Report 11,509,650 95.12% 562,086 4.65% 28,623 0.24% Resolution 2 Re-Election of Peter Thomas as a Director 13,105,192 96.13% 499,242 3.66% 28,623 0.21% Resolution 3 Election of Director – Mr Bruce Stewart 13,123,482 96.41% 460,002 3.38% 28,623 0.21% Resolution 4 Approval of 10% Placement Facility 12,995,023 95.88% 530,168 3.91% 28,623 0.21% Middle Island Resources Barkly Copper Gold Focus Annual General Meeting – November 2021 Exploring for Copper in Elephant Country 4 4 Disclaimer Notice The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Middle Island Resources Limited (“MDI”) nor does it form the basis of any contract or commitment. MDI makes no representation or warranty, express or implied, as to the accuracy, reliability or completeness of this material. MDI, its directors, employees, agents and consultants shall have no liability, including liability to any person by reason of negligence or negligent misstatement, for any statements, opinions, information or matters, express or implied, arising out of, contained in or derived from, or for any omissions from this material except liability under statute that cannot be excluded. Forward Looking Statements Statements contained in this material, particularly those regarding possible or assumed future performance, timeframes, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of MDI, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors. Previously Reported Information This presentation includes information that relates to Mineral Resources and exploration results which were prepared and first disclosed under the JORC Code 2012. The information was extracted from the Company’s previous ASX announcements as follows:- • Mineral Resources: ASX Releases 14 April 2020, 24 July 2020, 14 August 2020, 2 October 2020, 21 October 2020, 17 November 2020 & 7 July 2021. • Exploration Results: ASX Releases of 18 January 2017, 12 September 2017, 14 November 2017, 19 December 2018, 14 April 2020, 21 April 2020, 28 April 2020, 8 May 2020, 22 May 2020, 29 May 2020, 26 June 2020, 2 July 2020, 29 July 2020, 30 July 2020, 6 August 2020, 18 August 2020, 27 August 2020, 9 October 2020, 30 October 2020 & 23 December 2020. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of reporting of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which any Competent Person’s findings are presented have not been materially modified from the original market announcements. Disclaimer Notice and Competent Person’s Statement 5 5 Capital Structure ASX Code: MDI Shares on Issue 122M Unlisted Options 21.6M Number of Shareholders ~2,300 Top 20 Shareholders ~46% Institutions ~11% Directors ~3% Cash & Investments (15 November 2021) A$2.0M Market Cap at 10cps (15 November 2021) A$12M 6 6 • Barkly Super Project (COPPER) • MDI has secured a dominant > 5,220km 2 position • Crosswind's copper prospect discovered during first site visit. • Prospective unexplored IOCG province (i.e. Olympic Dam style) • Recent 10 holes drilled by MinEX CRC’s National Drilling Initiative (NDI) • Exciting results uncovered at April AGES conference, NT • Sandstone (GOLD) • Feasibility Study completed – Positive marginal result - Requires additional ounces at current gold price • 750ktpa processing plant upgrade - Positive option • JORC (2012) Mineral Resources - 768,100oz gold*. • ~59,000m drilling last 15 months, defined 5 new satellite pits. • Only processing plant for 150km • Sandstone focus – to identify additional >25,000oz Au by Exploration, Toll Treatment or M&A * Refer to Mineral Resource Statement on slide 17. Investment Highlights 7 7 Barkly Tableland - Infrastructure Source – AGES Conference, Alice Springs, NT April 2021 8 8 • Permits & applications 5,220km² • First-mover along recently identified ‘East Tennant’ prospective for IOCG. • MDI permits adjoining Rio Tinto & Newcrest Mining. • Crosswinds copper discovery provides proof of concept. • NDI intersected sulphides over > 300m in hole NDIBK04 Barkly Copper-Gold Super-Project - NT 9 9 • Significant copper oxide identified at MDI’s Crosswinds prospect. • Spot pXRF readings between 24.8% and 76.2% Cu . • Composite chip sampling assays of 130m at 0.76% Cu. • Reflects migration of copper along growth faults extending from Proterozoic basement. • Provides ‘proof of concept’ for the Barkly mineralised model. Barkly Project – Crosswinds Copper Discovery 10 10 • Core released to public on Friday 23 April 2021. • 10 holes drilled (~4,000m) through cover into PROSPECTIVE basement. • Basement intersected between 80 to 200m on average • Tennant Creek basement intercepted • Hole NDIBK04 intercepted significant Copper Mineralization along with over 300m of sulphides • Chemical assays are pending • Holes were drilled for Stratigraphy NOT metal. • MDI’s Crosswinds prospect is 50km directly along strike of Hole NDIBK04. Barkly Project – National Drilling Initiative 11 11 • Jessica Prospect – 3m @ 1.5%Cu (ASX - 19 Aug 2020) – discovered by analysing old water bores with a pXRF • BHP JV (Elliot Project) – $22M for 75% over 10 years (ASX - 24 Sept 2020) Barkly Project – Encounter Resources 12 12 • 11km south of Sandstone, 400km NW of Kalgoorlie. • Sealed highway between Mt Magnet & Leinster. • 100% interest in 180km 2 . • Includes two fully permitted Mining Leases that pre-date Native Title. • Existing gold processing plant on site. • Near fully permitted; operating licence, permitted tailings storage facility & bore field. Sandstone Gold Project - Location & Tenure 13 13 • Five new, shallow, satellite gold deposits defined:- • McIntyre: 23m @ 2.08g/t 24m @ 1.95g/t 18m @ 2.47g/t • Ridge: 4m @ 99.5g/t 4m @ 50.5g/t (close to surface) 9m @ 5.41g/t 7m @ 6.49g/t • McClaren: 4m @ 90.6g/t 3m @ 29.8g/t 8m @ 3.35g/t Sandstone Gold Project – Five New Deposits 14 14 • Plum Pudding: 11m @ 22.5g/t 7m @ 24.1g/t 17m @ 8.16g/t 7m @ 19.0g/t • Old Town Well: 3m @ 20.6g/t 14m @ 2.22g/t 6m @ 3.23g/t • All located on permitted Mining Leases within 2.5km of processing plant. • Resource estimates & updates completed. • Pit optimisations & designs being finalised. Sandstone Gold Project – Five New Deposits 15 15 • Logical district-scale consolidation opportunity. • Only plant within 150km; central processing hub. • At least 15 stranded gold deposits aggregating ~1.8Moz within 100km. • Upgrade justified on consolidation of third party deposits and/or organic exploration success • MDI flexible on process to make the project work Sandstone Gold Project – Consolidation Opportunities 16 16 * The Two Mile Hill Tonalite Deeps and BIF Deeps have been reported within optimised wireframes. All wireframes include waste and have an aggregate grade at or above the cut-off of 0.64 o g/t Au. Sandstone – Resource Statement Table 1 Sandstone Mineral Resources, 30 June 2021 Sandstone Open Pit Deposits – Summary Mineral Resource Estimates (2012 JORC Code) at 0.5g/t cut-off Deposit Indicated Inferred Total Tonnes Au Au Tonnes Au Au Tonnes Au Au kt g/t Oz kt g/t Oz kt g/t Oz Two Mile Hill 1 1,901 1.1 66,000 178 0.8 5,000 2,078 1.1 71,000 Shillington 3 1,440 1.2 57,200 830 1.1 29,300 2,270 1.2 86,500 Wirraminna 3 300 1.3 12,100 280 1.1 9,700 580 1.2 21,800 Old Town Well 5 282 1.0 8,800 68 0.6 1,400 351 0.9 10,100 Plum Pudding 5 384 1.1 13,100 35 0.9 1,000 419 1.1 14,100 Eureka 340 0.9 9,700 221 0.9 6,500 561 0.9 16,200 Twin Shafts 4 149 1.0 4,700 37 0.7 900 186 0.9 5,600 Goat Farm 4 398 1.0 13,200 398 1.0 13,200 McIntyre 4 496 1.2 19,400 67 0.9 1,900 562 1.2 21,300 Ridge 6 173 1.2 6,700 67 1.9 4,000 240 1.4 10,700 McClaren 6 236 1.4 10,600 60 1.7 3,200 296 1.5 13,800 Open Pit Subtotal 5,701 1.1 208,300 2,241 1.0 76,100 7,941 1.1 284,300 Sandstone Underground Deposits – Summary Mineral Resource Estimates (2012 JORC Code)* Two Mile Hill 2 14,000 1.10 480,000 14,000 1.10 480,000 Two Mile Hill – BIF 2 200 3.10 20,000 200 3.10 20,000 Underground Subtotal 14,200 1.1 500,000 14,200 1.1 500,000 TOTAL 5,701 1.1 208,300 16,220 1.2 569,600 22,141 1.1 784,300 Unit 1, 2 Richardson Street West Perth Western Australia, 6005 Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au Thank you
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