Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine

Transcription

JASON SANDER
General Manager
14th July 2014
Forward looking statements
Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and
Section 21E of the US Securities Exchange Act of 1934.
In p
particular, the forward looking
g statements in this document include among
g others those relating
g to the Damang
g Exploration
p
Target
g Statement; the Far
Southeast Exploration Target Statement; commodity prices; demand for gold and other metals and minerals; interest rate expectations; exploration and
production costs; levels of expected production; Gold Fields’ growth pipeline; levels and expected benefits of current and planned capital expenditures;
future reserve, resource and other mineralisation levels; and the extent of cost efficiencies and savings to be achieved.
Such forward looking
statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or
achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward
looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South
Africa Ghana,
Africa,
Ghana Australia,
Australia Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future
acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and
surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly taxation
and environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; the
availability and cost of raw and finished materials; the cost of energy and water; inflation and other macro-economic factors, industrial action, temporary
stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS and other occupational health risks experienced by
Gold Fields’ employees.
These forward looking statements speak only as of the date of this document. Gold Fields undertakes no obligation to update publicly or release any
revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of
unanticipated events.
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
2
Agnew/Lawlers Gold Mine
Location
• Located in the Eastern Goldfields Province of the
Archaean aged Yilgarn Craton
● Map of site/tenement position
● Show pits, plants, shafts etc
● Size of tenements etc
• 1,020km NE by sealed road from Perth
• 380km north by sealed road from Kalgoorlie
• Full mining and processing facilities
• Fly in / Fly out from Perth – reside in Leinster
• 8 days on / 6days off roster
3
Location
•
Agnew Mill (EMU Mill) located 25 km SW of Leinster
•
Waroonga underground mine located adjacent to the Agnew Mill
•
New Holland underground mine located 2km NW of Agnew Mill
•
78,547ha granted tenements (Including Lawlers purchase of
2500m
5000m
~27,000ha)
•
-
100 mining leases
-
18 exploration
l ti lilicences
-
27 prospecting leases
portion of the NorsemanTenements focused on the northern p
Leinster
Agnew Mill
Wiluna Greenstone Belt, ~35km north and south and ~25km SE
of the Agnew Mill
4
History
1894
Patrick Lawlers’ prospecting party finds gold
1896
Lawlers town site gazetted
1904
Waroonga Mine opened
1936
Agnew town site gazetted
1976
purchases Waroonga
g Leases and Emu Mine
WMC p
1984
Forsayth NL purchases Great Eastern Lease
Modern open pit mining commences at Waroonga
1986
Modern open pit mining commenced at Lawlers
1990
Genesis New Holland discovered
1992
Plutonic Resources purchase Forsayth NL
1998
Homestake acquires Plutonic Resources
2001
Gold Fields acquires Agnew from WMC
g with Homestake
Barrick merges
2002
Kim lode discovered
2012
FBH discovered
2013
Gold Fields purchases Lawlers from Barrick
Agnew Produced 2.4 Moz Since Acquisition From WMC In 2001
5
Historical Production
Agnew mined 28
28.2mt
2mt @ 5
5.0g/t
0g/t Au for
4.4 Moz since commercial production
commenced in 1987 to December 2013
Lawlers mined 17.1mt @ 4.1g/t Au for
2.3 Moz since commercial production
commenced in 1985 to December 2013
~7 Moz Produced To Date – 10 Moz Within Reach
6
Historical Production
Lawlers District: 1894 - 2013
Tonnes
Grade
Ounces
Kt
g/t
Moz
Pre 1985
951
12.9
0.39
Agnew
28 158
28,158
50
5.0
4 56
4.56
Lawlers
17,058
4.1
2.27
Total
46,167
4.9
7.23
Lode
Waroonga/New Holland: 1894 - 2013
Tonnes
Grade
Ounces
Kt
g/t
Moz
Pre 1985
359
7.8
0.09
Waroonga
10 516
10,516
64
6.4
2 15
2.15
New Holland
9,413
5.3
1.62
Total
20,288
5.9
3.86
Lode
Waroonga/New Holland production is around 3,000oz per hectare to date
7
Replacement of Reserves
Typical Regenerative Orogenic Geology
8
Replacement of Reserves
Lawlers Reserves and Production
14
1.4
1.2
Million Ounces
1.0
0.8
0.6
0.4
0.2
0.0
2001
2002
2003
2004
2005
Reserve
2006
Production
2007
2008
2009
Cumulative Production
2010
2011
2012
2013
Reserve @ 06/13
Typical Regenerative Orogenic Geology
9
Management Team
Jason Sander
General Manager
Dave
Thornton
Mining
Manager
Dayna Dankbaar
HR
Superintendent
Mike Mead
Sustainable
Development
Superintendent
Neil Lester
Engineering &
Processing
Manager
Peter Johansen
Mineral
Resources
Manager
Amanda Swart
Business
Applications
Superintendent
10
Dave Thornton – Mining Manager
Jason Sander – General Manager
•
•
•
B Eng (Mining) (Hons)
Commenced with Gold
Fields in 2005. In Agnew
GM role since Dec 2013.
Prior work history with
Tritton Resources Ltd,,
WMC/ Gold Fields – St
Ives, HWE and Roche Bros
at BHP Billiton Pilbara sites
Peter Johansen - Mineral Resources Manager
•
•
•
•
•
•
•
B. Eng. (Mining Eng.)
At Agnew since October 2013.
Prior work history with Barrick at
their Darlot & Lawlers mine and
with MacMahon’s (Olympic
Dam) and Harmony
Neil Lester– Engineering & Processing Manager
B. Sc. ((Hons))
7.5 years at Agnew
25 years experience in
exploration and mining in
Australia and PNG – Au,,
CU, Ni and Fe
Previous roles with CRAE
(Pilbara and WA Goldfields)
and Newmont ((Jundee))
•
•
•
BSc (Hons),
(Hons) Grad Dip Bus
Admin, Grad Dip Extractive
Metallurgy
At Agnew since Nov 2013
Prior to that with Barrick at their
Lawlers, Kanowna and
Paddington sites in the goldfields
region of Western Australia
MANAGEMENT TEAM
11
Amanda Swart – Business Applications
Superintendent
•
•
•
Dayna Dankbaar – HR Superintendent
Diploma of Accounting
8 months at Agnew
Previously Commercial Manager
Leighton Contractors, Admin Supt
Dominion Gold Ops,
Ops prior roles
with Vale Australia, Origin Energy,
Mt Magnet Gold, Plutonic
Resources, Deeson Heavylift.
•
•
•
B. Mngt. (HR)
3yrs 9mths at Agnew
Prior work experience in Australia
with Harrier, Poyry Pty Ltd, Abi
Group, Worley Parsons and
Martens and Heads (New York).
Mike Mead – Sustainable Development
Superintendent
•
•
•
BSc (Environmental Science) /
BSc. Marine Science
12 months at Agnew
Prior experience
p
with
Consolidated Minerals Woodie
Woodie Project, and DEC (WA)
MANAGEMENT TEAM
12
What did we buy?
Acquisition of Lawlers Gold Mine: What Did We Buy?
POSITIVES
CHALLENGES
●
A strong strategic fit with Agnew and GFA
● Embedding full value from consolidating the sites
●
A team of good and focussed operators
● Introducing Gold Fields operating franchise and DNA
●
A mature and well-functioning mine site
● Exploration spend and lead time required to realise
●
Significant potential for synergies:
exploration potential and add / replace quality reserves
̵ One mill
̵ One camp
̵ Optimised site power
̵ Contract consolidation
̵ People rationalisation
̵ Increased overall site flexibility
● Significant resource extension and brownfields
exploration potential
A Great Acquisition With Significant Upside
14
Resources & Reserves and Main Ore Bodies
New Holland Open Pit
G
Genesis
i Open
O
Pit
Mineral Resource (@ A$1,570/oz): 19.2Mt @ 5.93g/t for 3.66Moz
Mineral Reserve (@ A$1,370/oz):
4.2Mt @ 7.05g/t for 0.95Moz
Hidden Secret Open Pit
200 Series
500 Series
600/700 Series
Sheba
Waroonga Pit
Main
Kim
FBH
Edmunds
15
Site and Infrastructure
Agnew (EMU) Processing Plant
• 600kW Jaw crusher
• 1.2Mtpa
1 2Mtpa CIL
• Cyanide Code Compliant
• In-pit TSF (5km away)
Waroonga UG
Agnew Paste Plant
• Dry tails designed Aran plant commissioned in 2008
• Average production rate of 110m3/hr with a
maximum of 200m3/hr
Waroonga Underground
• Single decline truck haulage from a portal in the Waroonga pit
• Ramp Gradient = 1:7
• Decline and Truck Access Profile (5.2m wide x 5.8m high)
• Ore Drive Profile (5.0m wide x 5.0m high)
New Holland Underground
• Decline truck haulage from portals in the New Holland and Genesis
pits
p Gradient = 1:7
• Ramp
• Decline and Truck Access Profile (5.0m wide x 6.0m high)
• Ore Drive Profile (4.6m wide x 4.7m high)
EMU Processing Facility
16
Other Site Infrastructure

Leinster airport
Leinster
17
Why did we buy Lawlers?
Our Due Diligence View
● What did we see overall?
̵ Two side by side operations with different mining methods that can be streamlined into one multi-mine
operation
● Can meet GFI key metric of 15% FCF margin at a gold price of US$1,300/oz
̵ Closing down the Lawlers Processing Facility
̵ Reducing duplication
̵ Focusing on near mine potential
● Synergies
̵ Operating mine less than 5km away from the Agnew Processing Facility
̵ Operate the Agnew Processing Facility at full capacity
̵ Well established skilled workforce
̵ Combined
C bi d workforce
kf
iin one camp and
d single
i l fli
flight
h provider
id
̵ Access to water
● Resource and reserve growth
g
● Regional exploration potential
Potential To Be A Gold Fields Franchise Asset
19
Our Due Diligence View
Genesis Open Pit
New Holland Open Pit
Hidden Secret Open Pit
Sheba
Potential for deeper lodes??
Potential extensions
Current target areas
Drilled to be developed
Drilled,
New Holland Under Explored - Gets Better!
20
Our existing View of Agnew
Agnew’s
s potential
Rajah
Kath
Main
South
Main
North
Waroonga North
Hauptspalt
FBH
Yeoman
Kim
Indicated Resource
Link
Inferred Resource
Pre-resource early stage target
Target Zones
High Grade Shoots Open at Depth – Potential Along Strike!
21
What have we done since the acquisition?
Strategic Focus: Delivering Results
● Synergies realised
̵ Lawlers Processing facility placed on care and maintenance at end of October 2013
̵ Downsized the workforce and kept the highest performers
̵ Lawlers Camp placed on care and maintenance and employees now in Leinster
● Historically high grade and strong margin producer
̵ Transitioning to deeper mining and changing mining conditions
̵ Strategy
St t
in
i place
l
tto maintain
i t i tonnage
t
rate
t and
d margin
i
● Controlling the Cost Profile at Depth
̵ Reviewing
g underground
g
mining
g cost basis at Waroonga
g Underground
g
● Reserve Growth
̵ Targeting near surface opportunities in close proximity to the Waroonga / New Holland Complex
● Optimisation of the synergies from integration of Agnew with Lawlers
̵ Two discreet mines provides greater optionality
̵ Full Mill Capacity with additional gravity circuit upside with low capital expense
23
Synergies from acquisition (in-place
(in place and planned)
Synergy
Overall Impact
Utilization of equipment between mines –
truck, loader, production drilling
Cost savings, reduced capital spend
Closure of Lawlers Mill
Significant cost saving - $7.8Mpa (processing cost alone
before electricity increase)
Potential to increase further
A
Acquired
i d critical
iti l water
t resource
Establish a fit for purpose workforce
Amalgamation of skilled workforce
Review of organisational structure resulted in 64
redundancies
Review and consolidation of supply
contracts
Cost savings due to increased bargaining power with
suppliers of diesel, power, explosives, freight
Consolidation of flights & accommodation
Cost savings – terminated additional catering & charter
flight contracts
Morale - all personnel residing in the same camp and
FIFO via Leinster
24
New Holland: Leveraging Improved Production and AIC
● Equipment rationalisation enabled significant Capex and Opex savings.
p
requirement
q
for surface support
pp all development
p
headings.
g Along
g with efficiency
y
● Removed the Barrick corporate
improvements enabled the decommissioning of a Jumbo drill rig
● Significant improvement in mine layouts and drive location to minimise internal dilution
̵ More
M
selective
l ti mining
i i method
th d to
t ensure 15% ffree cash
h flflow margins
i are achieved
hi
d
Genesis 500 Series
Low-Grade Halo
High-grade Core
Ore Drive
Ore Drive
After
Before
25
Waroonga: Leveraging Improved Production and AISC
● Introduction of in-pit haulage at both New Holland and Waroonga
● Significant reduction in capital development per level in the Lower Kim South area
2013 Original Design
Final July Design
Reduction in development achieved through optimisation of stope extraction sequence
̵ First stage
g improvement
p
-> 148m of development
p
̵ Second stage improvement -> 62m of development
Total of 210m reduction per level
(~$1.3M savings)
26
Recent Performance
f
•
Focus on free cash flow and growing the
margin
•
No ounces for ounces sake, no marginal
mining
•
Optimised contractor vs owner mining
•
Site specific cost savings and business
process re-engineering
Gold Fields Control
27
Key Metrics
KPI’s
Unit
Q4 2013
Q1 2014
LTI’s
0
0
Ore mined - UG
kt
267
266
Mined grade - UG
g/t
7.32
6.91
Ore processed
kt
349
294
Head grade
g/t
6.52
6.35
Recovery
%
91 5
91.5
94 6
94.6
Gold sold
koz
73.6
59.2
Revenue
US$m
94.5
76.1
Operating cost
US$m
41.8
41.2
Operating Profit
US$m
52.7
34.9
Capital expenditure
US$m
19.5
20.9
US$/oz.
929
1,025
Safety
AISC
28
Processing
Processing Plant
•
Contract crushing -1.3 Mtpa tertiary crushing plant
•
2 stage ball milling circuit consists of closed primary ball mill (1.2
MW) and closed secondary ball mill (1.1 MW)
•
Throughput 1.3 Mtpa
•
Leach feed of p80 106 to 125 microns
•
Gravity circuit of two 30” Knelson concentrators feeding an ILR.
Gravity recovery typically 50% to 70%
•
Leach circuit consists of three 1,390 m3 leach tanks and six 490 m3
leach tanks. Residence time is 24 hours.
•
T i l plant
Typical
l t recovery iis 94% tto 95%
95%.
•
Effort since amalgamation of operations is directed at maximising
mill throughput
30
Milling Gravity Circuit and Gold Recovery
Milling,
Nameplate Capacity:
Ball mill 1 feed size (P80):
Grind size (P80):
Ball mill 1 charge:
Ball mill 2 charge:
1.20Mtpa
1
20Mtpa
8mm
106 -125 m
(80mm balls)
(50mm balls)
31
Tailings Storage Facility
•
In-pit TSF3 commenced in 2004 in the old
Redeemer pit and underground
•
Current capacity 4.5 Mt (as at June 2014)
•
Currently investigating additional Life of Mine TSF
options.
32
Processing - Grade
33
Processing - Recovery
34
Mining - Underground
Mineral Resources :
•
10.31Mt @ 6.20g/t for 2,055koz
Mi
Mineral
l Reserves:
R
•
2.96Mt @ 7.47g/t for 712koz
Overview:
̵ One underground mine, accessed by one portal
̵ Main focus is the higher grade Kim orebody
̵ Utilise longhole open stoping combined with paste fill
̵ Vertical depth of 1,200m
̵ High stress conditions, utilise fibrecrete for ground support
̵ Barminco Contract for all underground mining
̵ Fleet of:
• 8Trucks
8T k (Atl
(Atlas Copco)
C
)
• 4 Loaders (Caterpillar)
• 2 Jumbos (Sandvik)
• 2 Production Drills (Atlas Copco)
• 3 Charge rigs
Waroonga Pit
• Two Spray rigs
• 3 Agi trucks for fibrecrete
36
255,000
• Decline accessed
Waroonga Pit
• Full Contract Mining
• Longhole open stoping with paste fill
6,900,000
6,900,000
• Steeply dipping discrete orebodies.
255,000
300m
Access
Drives
Vent Infrastructure
Developed Areas
Historical Stopes
Future Mining Areas
Link
Longsection facing East
37
Mining Methods –Stope Sequence - M Front transition
● Transition to the M Front commenced in Q1 with the southern side completed
● Northern extent due to transition in Q3
50m
100m
38
Mineral Resources:
•
2.22Mt @ 8.78g/t for 627koz
Genesis Pit
Mineral Reserves:
•
1.18Mt @ 6.27g/t for 237koz
O
Overview:
i
̵ One underground mine, accessed by two portals which are in separate pits
̵ Main focus is the Genesis 500 series
New Holland Pit
̵ Utilise longhole open stoping combined with room and pillar
̵ Development intensive due to the flat nature of the orebody
̵ Vertical depth of 600m
̵ Good ground conditions, utilise mesh for ground support
̵ Limited airleg mining for escapeways and stoping slots
̵ Gold Fields do all underground mining
̵ Barminco perform underground diamond drilling
̵ Fleet of:
•
4 Trucks (Caterpillar and Atlas Copco)
•
4 Loaders (Caterpillar)
•
2 Jumbos (Sandvik)
•
oduct o Drills
s ((Atlas
t as a
and
d Sa
Sandvik)
d )
2 Production
•
1 Charge rig
39
255,000
Genesis Pit
New Holland Pit
690m
6,900,000
6,900,000
Oblique view facing North West
200mV
250mH
255,000
75-80%
Extraction
New Holland Underground:
• Decline accessed with 2 Portals
• Full owner mining
• Utilise longhole open stoping combined with room and pillar
p
intensive due to the flat nature of the orebody.
y
• Development
40
OHS & Sustainability
Key Safety Metrics
Target
42
Safety Initiatives in 2014
● Vital Behavior's initiated in Q2 (Safety Culture Program)
● Standardisation and increased communication of Agnew’s Injury Management
p
Schedule Tracking–
g Q
Quarterlyy (bonus
(
parameter)
p
)
● Internal Compliance
● Diesel Particulate monitoring has been integrated into existing monitoring programmes
● New Safety Management System and Strategic Plan rolled out to include both New Holland and
Waroonga Critical Hazard Risks Assessments.
43
Agnew Gold Mine – Environment and Community
Key Projects for 2014
Item
Detail
Actions
•
Project 1
Project 2
Water Security
Lawlers operations to be ISO14001
accredited
Agnew
GoldAustralia
Mine | Jason
Sander
| July 2014 Gold Mine | Jason Sander | July 2014
Gold
Fields
Site Visit:
Agnew/Lawlers
•
•
Existing
g Emu bore-field extraction volumes have
been optimised across all bores
Water management plans to include the
additional water now available from Lawlers
bore-fields and pits
Lawlers to be included under Agnew’s
Environmental Management System
Certification (ISO14001) via an upcoming
expansion of scope audit
44
Agnew Gold Mine
Human Resources
Description
2013
2014
Employees in service
302
285
Contractors
261
281
TE+C
563
566
Tonnes mined/ TE+C
234
251
Oz Sold / TE+C
43
35
*TE+C (Total number of employees plus Total number of Contractors)
45
Top Five Priorities
● Focus on costs
● Kim South replacement
g endowment p
potential of combined site to account - Life of Mine extension
● Turning
● Paste Plant management
● Safety management on combined Agnew / Lawlers site
46
Mine Geology
6,930,000
6,925,000
6
F
Meters
Siltstone
6,920,000
Sandstone
Mafic
Mafic Intrusive
M
Mafic Volcanic
6,915,0
000
Dolerite
Basalt
Ultramafic
6,910,000
6,930,000
6,925,000
6
6,920,000
/
2,500 5,000 7,500 10,000
6,905,000
M
Agnew Agnew
Mill
6,90
00,000
environment
Conglomerate
0
F
for gold rich fluids and deliver them to the near-surface
Felsic
275,000
F
(Ida Fault – Waroonga Shear) that potentially tap the mantle
270,000
M
● Agnew/Lawlers adjacent to major super-crustal structures
265,000
F
rock packages that all have potential to host gold deposits
260,000
Agnew_Geology
Sediment
6,915,0
000
● Locally the Belt is composed of sedimentary and volcanic
255,000
Granite
6,910,000
Belt
250,000
6,905,000
● Situated in northern portion of Norseman-Wiluna Greenstone
245,000
00,000
6,90
Regional Geology
Mill
M
6,895,000
6,890,000
0
6,890,000
0
MM
Mill
M
245,000
250,000
255,000
260,000
265,000
270,000
F
275,000
6,885,000
6,880,000
M
F
6,880,000
6,885,000
M
F
F
in part by the local host rock chemistry
Lawlers
Mill
Lawlers
F
subtle differences in alteration and mineralisation controlled
M
intersections between structures and stratigraphy,
g p y, there are
6,895,000
F
● Although all Agnew deposits are broadly hosted by
48
Geology and Mineralisation
Agnew_Geology
Felsic
High potential for
further extensions
or repeat lodes
Granite
Sediment
Siltstone
Sandstone
Conglomerate
Mafic
Mafic Intrusive
Dolerite
Mafic Volcanic
Basalt
Ultramafic
49
Geology and Mineralisation
255,000
Waroonga Cross Section
Resource:2.4
Resource:2
4 Mt @ 8.72
8 72 g/t for 0.67Moz
0 67Moz
Reserve 1.2 Mt @ 6.24 g/t for 0.24Moz
16 8 Mt @ 5
16.8
5.53
53 g/t
/t ffor
6,900,000
0
3.0 Mt @ 7.37 g/t for
6,900,000
0
Resource:
R
2.99Moz
Reserve:
0.71Moz
New Holland Cross Section
Mafic/
Ultramafic
255,000
Rock Code
SSF
SSL
SSVC
- Fine Grained Sandstone
- Siltstone
- Very Course Sandstone
50
Exploration
Agnew/Lawlers Gold Mine - Growth Pipeline (Brownfields)
Mine (Extensional) Exploration
Colours
Black: Waroonga
Blue: New Holland
Regional (Additional) Exploration
FBH
Indicated
Resource
FBH
500 Series
Cinderella
Resource
Development
The Link
Kath
500 Series
200 Series
Advanced
Drilling
Waroonga Extensions
600/700 Series
Hidden Secret
Yeoman (Main South)
Initial Drilling
Waroonga North
FBH (deep)
Kim South (deep)
GNH (deep)
Eastern Sandstone
Target
Definition
Research and development
3-D Leapfrog Modelling
Ongoing Deep Drilling Programs
5
Cinderella North, Alice
15
Cams, Pinnacles
Research and development
3-D GoCAD & Leapfrog Modelling
Mineral Systems/Prospectivity Mapping
 Large number of regional targets on Lawlers ground being assessed
 Potential of all known resources on Lawlers tenement package being reviewed and assessed
 Open pit resources currently not included in Lawlers resource statement
52
Agnew_Geology
Felsic
Granite
Geology
gy
S di
Sediment
t
Siltstone
• Endowment and
Exploration Potential is
strong over combined
tenement areas
Sandstone
Waroonga
• Lawlers prospect areas
under review – little
surface exploration
completed for last 10+
years
Conglomerate
Mafic
Mafic Intrusive
Dolerite
Mafic Volcanic
Basalt
Ultramafic
Target Area
53
Positioning New Holland and Waroonga Relative To Each Other (looking East)
N
S
2.6km
Waroonga Nth
plunge
600/700 series
~640m
3.2km
Previous Lease Boundary
p
g
g areas
~640m separates
the 2 underground
mining
Very large system with potential to +2km depth
̵ NH-G beyond 700 series
̵ Hidden Secret plunge
̵ Waroonga North
Waroonga
Deeps
2000mbs
000 bs
̵ Waroonga Deeps
54
The Targets (Plan view and looking West)
Hidden Secret
200 Series
1,500 m
6,901,000
6,903
3,000
500 Series
6,900,00
00
6,900,00
00
6,901,000
6,902,000
255,000
6,903
3,000
254,000
6,902,000
253,000
0
/
300
1,000 m
600
Meters
253,000
254,000
255,000
55
Waroonga Drilling Results: Kath Upper,
Upper Kim/Fitzroy Positions
8 2m @ 11
8.2m
11.5g/t
5g/t incl
incl. 4.6m
4 6m @ 15.4g/t
15 4g/t
Kath Upper
Rajah
Waroonga North
Main
South
Main
North
Legend
Target completed,
Preliminary Assays received
Target completed,
completed Assays
Pending
Kath
Target not yet completed
Yeoman
FBH
Existing intersection point on
“Kim Contact”
75
50
EMSD1081W9:
Kim:
5.5m @ 6.9g/t incl. 1.3m @ 17.4g/t
Fitzroy:
1.6m @ 1.8g/t
Midreef:
NSA
Bengal:
NSA
EMSD1080W7:
Kim:
12.6m @ 6.7g/t incl. 4.5m @ 14.8g/t
Fitzroy:
4.8m @ 3.2g/t
Midreef:
NSA
Bengal:
NSA
Link
EMSD1080W8:
Kim:
1.3m @ 16.2g/t
Fitzroy:
1.3m @ 1.5/t
Midreef:
5.0m @ 2.2g/t
10.0m @ 1.8g/t
Bengal:
9.8m @ 3.0g/t incl. 7.89m @ 3.37g/t
EMSD1081W10:
Kim/Fitzroy: 7.8m @ 5.4g/t incl. 1.8m @ 9.2g/t
Midreef:
4.8m @ 5.7g/t incl. 2.2m @ 10.4g/t
Bengal:
3.1m @ 1.8g/t
Hastings (?): 11.7m @ 2.4g/t
Target Zones
40
30
20
10
5
Kim
EMSD1081W11:
Ki /Fit
Kim/Fitzroy:
17 3 @ 4
17.3m
4.3g/t
3 /t iincl.
l 3
3.4m
4 @ 12
12.3g/t
3 /t
Midreef:
Assays Pending
Bengal:
Assays Pending
Gram-Metre-Product
Isoline Legend:
EMSD1081W12:
Kim/Fitzroy: 3.0m @ 2.4g/t
Midreef:
27 9m @ 4
27.9m
4.0g/t
0g/t
Bengal:
Note: Gram-Metre-Product Isolines highlight
general areas of mineralisation and do not
necessarily highlight high grade ore shoots! Only
Fitzroy/Bengal Isolines are true-width-corrected.
Other Isolines represent down-hole intersections.
Waroonga Stopes and Development as of end of
December 2013
Incl 2.6m
Incl.
2 6m @ 12.3g/t
12 3g/t
Incl. 6.9m @ 6.4g/t
3.89m @ 2.76g/t
N – S Longitudinal Section, looking East. Isolines shown are for Kim/Fitzroy Surface only.
56
Waroonga Drilling Results: Waroonga North,
North Kath
EMSD1104:
0.3m @ 23.2g/t
EMSD1103:
2.37m @ 19.0 g/t
Kath Upper
Rajah
Waroonga North
Main
South
Main
North
EMSD1125A:
8.07m @ 2.10g/t
EMSD1090:
3 5m @ 11
3.5m
11.15g/t
15g/t incl
incl. 1.58m
1 58m @ 22
22.96g/t
96g/t
Kath
Legend
EMSD1134:
4.13m @ 8.17g/t incl. 1.60m @ 17.68g/t
Yeoman
FBH
EMSD1139:
5.2m @ 15.03g/t incl. 2.73m @ 19.73g/t
Existing intersection point on
“Edmunds Footwall”
Gram-Metre-Product
Isoline Legend:
Link
KSOD46001:
1.9m @ 10.3g/t
Kim
KSOD46002:
1m @ 12.1g/t
KSOD46003:
0.8m @ 10g/t
WDU1226:
3.5m @ 20.5g/t
7
5
5
0
4
0
3
0
2
0
1
0
5
Note: Gram-Metre-Product Isolines highlight
general areas of mineralisation and do not
necessarily highlight high grade ore shoots!
Only Fitzroy/Bengal Isolines are true-widthcorrected. Other Isolines represent down-hole
intersections.
Waroonga Stopes and Development as of
end of December 2013
N – S Longitudinal Section, looking East. Isolines shown are for Edmunds/Bengal surface only.
57
Genesis New Holland Exploration
200 Series
Hidden Secret
500 Series
Obvious targets tested in 2014
58
The 200 Series
T
Target
t Area
A
•
Current 200 Series reserve approximately 250m along strike
•
Interpreted structure extends another ~950m but is not sufficiently drill
t t d
tested
250Koz Target
59
The 500 Series
South
North
Target Area
Extrapolation of 500 Series position
Genesis Pit
•
Genesis 500 main ounce producer since 2011
•
Mineralised system is open to the north – Structures intersected 200m
north
th iin 2014 Q1
•
Drilling to test further extensions of the 200 Series as well
500Koz Target
60
South
600/700 Series
North
600/700
Series
1.2m @15g/t
N
New
H
Holland
ll d
Genesis
700 Series
S i currently
tl >400m
400
strike length and a further
100m below 600 series.
Open to north and south
Batavia
Sheba
600 S
Series
i currently
tl >800
>800m
strike length approximately
120m below 500 Series.
Open to north and south
+250Koz Resource Target
61
Hidden Secret
1m@68 0g/t
1m@68.0g/t
1m@43.8g/t
Hidden Secret Pit
8m@20.2g/t
2m@62.2g/t
Hidden
Secret
1m@105g/t
2m@28.9g/t
3m@53.5g/t incl.
1m@142g/t
2m@51.3g/t
1m@33.8g/t
3m@33.0g/t
WARCD0470
Hidden Secret
4m@23 0g/t
4m@23.0g/t
WARCD0470
2m@38.6g/t
WARCD0470
6m@34.0g/t incl.
2m@96.9g/t
WARCD0470
Longsection of Hidden Secret with Au
>10g/t
2m@22.8g/t
WARCD0470
0.3m@307g/t
1m@46.6g/t
WARCD0470
WARCD0470
C
New Holland
• Wide spaced drilling between New Holland and
Hidden Secret pits
• Presence of high grade (westerly style)
mineralisation similar to the 500 series
• No drilling at depth
200m
1.6km Strike Length – Existing High Grade Intersections
62
Conclusions
•
Outstanding reserve replacement history
-
Agnew and Lawlers have historically had a LoM of approximately 3 years, every year, since 1986
•
Situated in a highly prospective region for further gold discovery
•
Experienced focused management team
•
About to develop a new major orebody which will improve margins
• Well positioned with excellent exploration potential to extend life and deliver
ounces at targeted AISC’s
A Strong GFI Franchise Asset
63
JASON SANDER
General Manager
14th July 2014

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine

Transcription

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