23 Nov

Investor Presentation - ASX Investor Copper Day

Redbank Copper – Emerging Australian Copper Company Positioned for the Copper Cycle Tuesday 23 November 2021 ASX Investor – Copper Day Disclaimer and Forward Looking Statements This presentation is not a prospectus nor an offer of securities for subscription or sale in any jurisdiction nor recommendation to buy or sell Redbank Copper Limited securities . 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 Redbank Copper Limited and consult with their own legal, tax, business and/or financial advisers in connection with any acquisition of securities or investment in Redbank Copper Limited . The information contained in this presentation has been prepared in good faith by Redbank Copper Limited . 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, Redbank Copper Limited, 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 Redbank Copper Limited, but these are not intended to be forecasts, forward looking statements, or statements about future matters for the purposes of the Corporations Act (Cth, Australia) or any other applicable law . The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause Redbank Copper Limited’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 to be published in relation to the matters described in this presentation 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 all 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 in this presentation necessarily involve significant elements of subjective judgment, analysis and assumptions and you should satisfy yourself in relation to such matters . Competent Person Statement The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Code’) sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves . The Information contained in this presentation has been presented in accordance with the JORC Code and references to “Measured, Indicated and Inferred Resources” are to those terms as defined in the JORC Code . The information in this presentation that relates to Geology and Exploration Results is based, and fairly reflects, information compiled by Mr Michael Hannington, who is a Member of the Australian Institute of Geoscientists . Mr Hannington is Executive Director of Redbank Copper Limited . Mr Hannington has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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’ . Mr Hannington consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears . All parties have consented to the inclusion of their work for the purposes of this presentation . The interpretations and conclusions reached in this presentation are based on current geological theory and the best evidence available to the author at the time of writing . It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for absolute certainty . Any economic decisions which might be taken on the basis of interpretations or conclusions contained in this presentation will therefore carry an element of risk . Details of Redbank Copper Limited’s Mineral Resource estimates which appear in this presentation are estimates previously disclosed in Redbank’s ASX announcement dated 24 June 2021 in compliance with The Australasian Code for Reporting for Exploration Results, Mineral Resources and Ore Reserves, 2012 . Redbank Copper Limited confirms that it is not aware of any new information or data that materially affects the information included in the 24 June 2021 ASX announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed . Disclaimer Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au Redbank Project – The McArthur Basin 3 Corporate Structure “2021 field season complete: foundation surveys undertaken and new regional data acquired” 1. As at 22 November 2021 2. As at 30 September 2021 3. Graph as at 22 November 2021 Current Cornerstone Investor and Shareholdings 1 Wyllie Group Pty Ltd 7.87% Top 20 44.78% Management Team (undiluted basis) 6.55% Current Capital Structure ASX:RCP Shares on Issue 518,900,730 Performance Rights 1,000,000 Director Options 6,750,000 Share Price 1 A$0.062 Market Capitalisation A$32.2M Cash in Bank 2 A$4.48M Enterprise Value ~A$28.7M Corporate and Geological Team Tony Kiernan NON - EXECUTIVE CHAIRMAN Appointed 21 April 2021 Tony Kiernan is a highly experienced public company director and former solicitor, with an extensive career in the mining and exploration sectors spanning over 35 years . Tony’s previous roles include Chairman of Saracen Mineral Holdings prior to the company’s merger with Northern Star Resources, Chairman of Venturex Resources and Chairman of Chalice Mining . Currently, Tony serves as Chairman of Pilbara Minerals . Michael Hannington EXECUTIVE DIRECTOR Appointed 2 August 2019 Michael Hannington is a geophysicist and lawyer with over 30 years’ experience managing exploration and mining projects with roles acquiring, financing, developing and managing mining operations within North Ltd and Oxiana Ltd . Mike is the past founding director of Talisman Mining Ltd and Alchemy Resources Ltd and has more recently acted as a technical consultant for high net worth individuals acquiring base metal projects in North America, Africa and Asia . Bruce Hooper NON - EXECUTIVE DIRECTOR Appointed 1 December 2020 Bruce Hooper is a registered professional geoscientist with extensive resources industry experience spanning the base metal, precious metal and energy sectors in Australia, Asia, the Americas and Africa . Most recently, Bruce completed 9 years as Chief Exploration & Business Development Officer at Sandfire Resources Ltd . During this period he was seconded to be Chief Executive Officer of Tintina Resources based in Montana, USA . Prior to 2012 , Bruce worked in several senior exploration, operational and business development roles for a variety of companies including British Petroleum (‘BP’), Rio Tinto Ltd, North Ltd, Straits Resources Ltd, Perilya Ltd, Ivernia Inc . along with both private and public board roles . Daryl Henthorn NON - EXECUTIVE DIRECTOR Appointed 2 August 2019 Daryl Henthorn has over 30 years’ experience in financial services, advisory and operational management across a number of industries and has broad commercial skills . Daryl has experience in equity raising, debt, private equity and the structuring of financial instruments for ASX listed and private companies . He has served on the board of public companies and acts as trustee for unlisted investment vehicles . Dale Henderson NON - EXECUTIVE DIRECTOR Appointed 2 September 2021 Dale Henderson is an engineer and Chief Operating Officer at Pilbara Minerals Ltd . Dale leads Pilbara Mineral’s lithium mining and processing operations . Dale has previously worked for major resource companies, including : Fortescue Metals Group, Chevron and Occidental Petroleum . “A highly experienced corporate and technical team with a track record of discovery and development” Michael Cowin Exploration Manager Allan Ronk Consulting Geologist John Beeson Consulting Geologist Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au The McArthur Basin – What lies between McArthur & Century Deposits The only copper deposit between the McArthur and Century base metal deposits is at Redbank Figure 9: Oblique Google Earth image showing Redbank Project area in the Northern Territory 6 There are numerous surface copper anomalies within the Redbank Project tenements that have never been drilled Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au Redbank Project – October 2021 1. Prospecting 1916 to 2021 – rapid identification of additional copper prospects 2. Soil Sampling – rapid assessment of copper in soils at 500m x 500m spacing 3. Airborne EM Survey (VTEM Max) – significant conductors identified 7 Bill Masterton. Photo courtesy of www.themastertons.org/bill - masterton - hermit.html Figure 1: Soil Sample locations – extending west via tracks Figure 2: VTEM survey image of conductivity – survey partially complete to early October 2021 Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au Redbank Project – November 2021 1. Conductor – Reductant – Shale 2. No drilling over conductor 8 Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au Redbank Project – Field Activity commenced June 2021 Redbank Project: Exploration 2021 Field Season • Disseminated copper – June 2021 - Gradient Array IP (GAIP) surveying east of the Bluff Deposit has confirmed that an east - west structural corridor links the breccia pipe copper deposits • Source to the copper beneath the breccia hosted copper deposits – July 2021 - Magnetotelluric (MT) survey has identified the Wollogorang Formation as a laterally extensive conductor at approx . 100 m depth • Stratabound copper deposit – July to October 2021 - Airborne EM survey now complete has identified significant late - time conductors – DDIP surveys undertaken to determine if there is a chargeability response within these conductors and then drill tested for copper mineralisation • Drilling anomalies – September 2021 - initial 5 , 000 m drill program to test IP chargeability targets east of the Bluff Deposit • Surface copper anomalies – June to November 2021 - prospecting and regional soil sampling continuing at 500 m x 500 m spacing over an expanded area outside the known copper deposits Expanding Redbank’s Footprint • First pass geological reconnaissance over recently granted tenements both south and west of the central Redbank Project area reveal copper at surface • Recent acquisition of the Merlin Diamond Mine by Lucapa Diamond Company has reignited interest in diamond exploration over Redbank’s Project area Figure 3: Oblique Google Earth image showing Redbank Project exploration targets 9 “The process of turning knowledge of the rocks into an economic copper discovery and value for shareholders” Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au 10 Breccia Pipes – Keys to a Bigger Discovery Geological Understanding of the Breccia Pipes • Breccia pipes are fractured rocks caused by overpressure at depth • Previous mapping suggests this is due to a 50 + metre build up of salt in the lower Wollogorang Formation • Salt is one of the key ingredients in stripping copper from source rocks and depositing within host rocks – in this case, the breccia pipes • The breccia pipes are hosted in Tawallah Group rocks described by the Northern Territory Geological Survey . Studies are underway to correlate these rocks with the Mt Isa district in Queensland to enhance copper prospectivity in far eastern Northern Territory • Small diameter breccia pipes have daylighted and are exposed at surface • Larger diameter breccia pipes appear to be recessive – they do not daylight and are not exposed at surface • One exploration target is to hunt for large buried copper mineralised breccia pipes using extensive soil sampling – this strategy worked in the discovery of the Century deposit . Redbank is also operating it’s own IP surveys Figure 10: Full and half core photos from historical core on site Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au Redbank Project – The Copper Deposits JORC 2012 Inferred Resource of 8.4Mt @ 1.1% Cu (0.3% Cu cutoff ) Figure 4: Redbank Project – location of breccia pipe hosted copper deposits 11 Sandy Flat copper deposit mineralised wireframe Bluff copper deposit mineralised wireframe Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au Redbank Project – The Copper Exploration Business Magnetotelluric Soundings highlight major vertical structures and simple geology 12 Figure 5: Magnetotelluric Survey – line of soundings along deposits Figure 6: Magnetotelluric Survey – line of regional soundings Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au Redbank Project – 2021 Field Activity Completed 13 1. Airborne EM survey completed – major conductor ~5km northeast of Redbank deposits 2. DDIP (dipole dipole IP) ground geophysical surveys completed over VTEM conductors 3. Soil sampling surveying completed – assays pending results expecting into January 2022 4. Gravity and magnetotelluric surveys highlight copper prospective Wollogorang and McDermott stratigraphy 5. Drill IP anomalies east of the Bluff Deposit 6. Stratigraphic drill hole completed to 700m depth through sediment package and REDOX zones 7. Helicopter supported soil and stream sediment sampling at Redbank West next to McArthur Mine completed Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au 14 Emerging Copper Company – The Key Components Scale A district size landholding covering 14,084 km ², with existing resources World Class Identified by Geoscience Australia as a key area with potential for discovery of world class base metals deposits Grade Breccia pipes contain high grade copper People Retained experienced geological team with a track record of discovery How to convert an opportunistic re - birthing of the Redbank Project into an investment opportunity Redbank Copper Limited has secured a dominant ground holding and is well resourced to build the next Emerging Australian Copper Company Redbank Copper Limited ASX: RCP Level 1, 1A Agnew Way, Subiaco, WA +61 8 9362 9888 admin@redbankcopper.com.au Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au 16 Environment, Social and Governance Processes Traditional financial reporting alone is not sufficient for investors and regulators who demand demonstratable progress in companies engaging in ESG reporting Climate change strategy, Biodiversity, Water efficiency, Energy efficiency, Carbon intensity, Environmental management systems Equal opportunities, Freedom of association, Health and safety, Human rights, Customer & products responsibility, Child labour Business ethics, Compliance, Board independence, Executive compensation, Shareholder democracy Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au 17 Opportunity to Develop a World Class Copper Company First - Mover Position – The largest exploration tenement holder in the Northern Territory’s McArthur Basin and a strategic tenement landholding in South Australia World Class Area – Geoscience Australia has identified a highly prospective trend for major base metal deposits, traversing the McArthur Basin through Redbank’s tenements Current 8 . 4 Mt @ 1 . 1 % Cu Resource (JORC 2012 ) & Extensive Geological Database – Over 60 years of exploration data, reports and over 25 , 000 m of drillcore , with the potential to expand current resource Current Program of Works – Extensive field work program underway with geological team undertaking field mapping, soil sampling and ground geophysical surveys and drilling Significant Discovery Opportunities – 50 + breccia pipes within current Redbank Project tenements and identification of receptive host stratigraphy provides multiple opportunities for further discovery Copper Extraction Potential – Sandy Flat site provides potential commercial copper production opportunity through the processing of the previous mine tailings and pit water Management Team – Highly experienced geological management team with extensive exploration and corporate capabilities Environmental, Social, Governance – Processes now in place to significantly improve management of exposure to ESG risks and how thi s information is reported to the market Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au 18 Appendix A: Redbank Project Reported Mineral Resource Mineral Resource Estimates for each breccia pipe copper deposit (JORC 2012) Note: Discrepancies in summation may occur due to rounding Inferred (at 0.3% cutoff ) Deposit tonnes Cu grade (%) Cu metal (t) Redbank 437,700 1.0 4,200 Azurite 291,700 1.3 3,700 Punchbowl 1,162,400 0.8 9,500 Roman Nose 963,000 0.9 8,200 Bluff 2,221,100 1.4 31,700 Sandy Flat 3,100,900 1.0 29,800 Prince 220,400 0.7 1,500 Total 8,397,200 1.1 88,600 Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au 19 Appendix B: Competent Person Statement – Redbank Project Competent Person Statement The Mineral Resource summary table is based on information, and fairly represents, information compiled by Ms Christine Shore, who is a Fellow of the Australasian Institute of Mining and Metallurgy . At the time the Mineral Resource Estimate was reported to the ASX on 24 June 2021 , Ms Shore was a fulltime employee of Entech Pty Ltd . Ms Shore has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she undertook 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’ . Ms Shore has previously consented to the inclusion in Redbank Copper reports of the matters based on her information in the form and context in which it appears . Redbank Copper Limited – Emerging Australian Copper Company ASX:RCP – www.redbankcopper.com.au 20 Appendix C: Environmental and Social Responsibility Environmental and Social Responsibility Statement The McArthur Basin is still at the very early stages of exploration using modern geochemical and geophysical techniques . As an early explorer in this district, Redbank Copper Limited is mindful of its Environmental and Social responsibility to the land and the Traditional Owners . Redbank Copper Limited is engaged with the Traditional Owners and their representatives at the Northern Land Council and continue to listen and understand more about the connection that our first Australians have over Northern Australia . We are considerate of the mixed use of the land as pastoralists develop North Australian cattle stations . Redbank Copper is committed to its Environmental and Social responsibility with all stakeholders and believes that a social license to operate is a long - term obligation . The Redbank Board ensures an ESG framework is in place for all Redbank’s activities and the Company operates to the highest standards in its dealings with pastoralists, traditional owners, Northern Territory Government personnel, the investment community and our shareholders ; the owners of Redbank Copper .
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