INVESTOR PRESENTATION - May 2020 Tatogga Project, Golden Triangle, BC GTT : TSX-V - GT Gold Corp.
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
I N V E STO R P R E S E N TAT I O N Tatogga Project, Golden Triangle, BC May 2020 GTT : TSX-V
Cautionary Statement Regarding Forward Looking Information
Certain statements included in this presentation constitute forward-looking statements, including those identified by the words “proposed”, “will”, anticipate”, “believe”, “plan”, “estimate”,
“expect”, “intend”, “may”, “should” and similar words and expressions to the extent they relate to GT Gold Corp. (the “Company”) or its management.
The forward-looking statements are not historical facts and are based on current expectations and various estimates, factors and assumptions, and therefore involve known and unknown risks,
uncertainties and other factors.
Any forward-looking statements represent the Company’s estimates only as of the date of this presentation and should not be relied upon as representing the Company’s estimates as of any
subsequent date. The material factors and assumptions that were applied in making the forward-looking statements in this presentation include:
• execution of the Company’s existing plans or exploration programs for its properties, which may change due to changes in the views of the Company, or if new information arises which
makes it prudent to change such plans or programs; and
• the accuracy of current interpretations of geochemical, geophysical, drilling and other exploration results, since new information or new interpretations of existing information may result in
changes in the Company’s expectations. Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or
achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties
or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-
looking statements will materialize. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
QA/QC PROCEDURES
GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of RC chips and diamond drill core, the complete
details of which can be viewed on the Company’s website at http://www.gtgoldcorp.ca/projects/tatogga/
For full details on both Saddle North and Saddle South reverse circulation and diamond drill program assay results widths reported in this presentation, please refer to the corresponding press
release available on the Company website at www.gtgoldcorp.ca/news/. All assays are performed by ALS Canada Ltd. (Minerals), with sample preparation carried out at the ALS facility in
Terrace, BC, and assays at the North Vancouver laboratory. Assay values are uncut. For gold, fire assays are performed as per ALS protocol Au-AA26 (0.01-100.00 g/t Au) using 50 grams of
sample with assays equal to or greater than 5 g/t Au calculated gravimetrically, and lower-grade samples measured by (AA) atomic absorption. All samples that return equal to or greater than 5
g/t Au from initial fire assaying are additionally sent for screen metallic analysis using the remainder of the pulp (~950 grams of sample). This step is taken to ensure that any coarse grained,
nugget gold fraction that may have been missed in the fire assays has been captured.
GT Gold Corp.’s Qualified Person as defined by National Instrument 43-101 is Michael Skead, FAusIMM, VP Project Development. Mr. Skead has reviewed and approved the technical
information in this presentation.
TSXV: GTT 2
HEALTH AND SAFETY
COVID-19 Response Plan
IMMEDIATE EXPLORATION SEASON AHEAD
Supporting the health and safety Creating a plan to operate while
of employees and contractors instituting health and safety guidance
Limited in-person meetings Monitor the situation closely and
and postponed business ➢ ➢ maintain communication with
travel Tahltan Central Government
Mandated work from home ➢ ➢
Act according to guidelines of
where possible BC Office of Provincial Health
Personnel working on drill Abide by all safety protocols
core reduced to minimum to ➢ ➢ established within Tahltan
maintain 2 m social Traditional Territory
distancing
TSXV: GTT 3
TATOGGA PROPERTY
Tier 1 Mining Jurisdiction with Access and Infrastructure
SADDLE
DISCOVERIES
TATOGGA PROPERTY
Iskut
• Existing
Infrastructure
Community
• Easily
Accessible
• Within Tahltan
Traditional Territory
• Within Prolific
Highway 37
Golden Triangle
in BC, Canada 287 kV Power Line
N
5/14/2020
TSXV: GTT 4
Strong Management Team and Board of Directors
Ashwath Mehra Paul Harbidge Shawn Campbell Michael Skead Charles J. Greig
Executive Chairman President, CEO and Director Chief Financial Officer VP Project Development VP Exploration
• +30 years of mining and metals • Geologist with +20 years of experience • +15 years of progressively senior • Geologist with +30 years of • Geologist with +35 years of
experience in mining exploration and development experience in project and operations experience in mining exploration experience working in mining
• Extensive Capital markets expertise • Most recently served as Senior Vice financial management and development and mineral exploration
and network of European investors President of Exploration at Goldcorp • Most recently served as Head of • Most recently served as Director of • Extensive experience with deposits
Investor Relations with Goldcorp. Geoscience at Newmont Goldcorp in BC’s Golden Triangle
James Rutherford Renaud Adams Dale Finn John L. Pallot Adrian Reynolds Charles Tarnocai
Lead Independent Director Independent Director Director Independent Director Independent Director Independent Director
• +25 years of experience in • +25 years as global mining • Geologist with +40 years of • Seasoned executive with • +30 years of experience in • Geologist with +22 years of
investment banking and executive and operator experience including 30+ decades of experience natural resources sector experience in international
investment management • Currently serving as CEO years with Newmont Mining across a broad array of • +15 years' experience with mining and exploration
• Served as a Senior Vice and President of New Gold Corporation industries Randgold Resources as part • PH.D in economic geology
President at Capital Group • Instrumental in Richmont • Currently serving as Group • Extensive experience raising of the executive team • Most recently served as
responsible for mining Mines’ acquisition by Alamos Executive for Near-Mine capital for junior mining strategizing growth from VP Corporate Development at
investments Gold for ~US$700M Exploration in the Americas issuers exploration to mid-tier Alamos Gold
including eight minesites production
Technical expertise and a track record of value creation
TSXV: GTT 5
Short History of Greenfield Value Creation
GTT:TSX-V Saddle North Saddle North
opens on Discovery Geological
market Model
Saddle North
Q4 2016 2017 2018 2019 Q1 2020 Mineral Resource Q2 2020
PEA year end 2020
Saddle North
Saddle South Infill and
Discovery Expansion
Drilling
TSXV: GTT 6
Attractive New Investment Opportunity
with District Upside Potential in Canada
Clear Dual-focused Strategy to Create Longterm Value
1. ADVANCE SADDLE NORTH DISCOVERY 2. DEVELOP TATOGGA PROJECT PIPELINE
• Saddle North gold-rich copper porphyry system • Saddle area
mineralized to surface and open along strike and at highly prospective untested targets adjacent to Saddle
depth discoveries
• Geological model completed in Q1 2020 to form • Quash Pass target
foundation for initial mineral resource estimate in Q2 5-6 km long strong coincident soil and geophysical
• Continue ongoing engineering work and studies to anomaly located less than 8 km from Saddle area
deliver the Preliminary Economic Assessment (PEA) in • Additional targets
Q4 2020 identified on prospective 468 km2 property
TSXV: GTT 7
Advancing Saddle North
ADVANCING SADDLE NORTH
Saddle North Gold-rich Copper Porphyry
2020 Plan to Advance Saddle North Discovery to PEA
✓ Q1: De-risking achieved with initial metallurgical testwork and
potential for a simple, conventional flowsheet
✓ Q1: Relog of all historical drillcore to produce geological
model: lithology, structure, alteration and mineralization
completed
• Q2: Inaugural inferred mineral resource
• Q3: Additional metallurgical testwork
• Q4: Preliminary Economic Assessment
Summary of Mineralization
✓ Well-mineralized envelope of gold-rich copper porphyry with
demonstrated continuity in high-grade, southerly-plunging core
from surface to highest grades at depth
✓ Mineralized envelope extends ~1,400-1,600 m down-plunge,
~700 m along strike, and has a thickness of ~200-560 m
(1,550 m from surface),
✓ System is open at depth and highly prospective targets remain
untested along strike to West and East
TSXV: GTT 9
Saddle North: De-risking with Initial Metallurgical Testwork
Initial metallurgical testwork on composite Au Ag Cu Fe Stot
Saddle North Sample
samples from two zones of mineralization: (g/t) (g/t) (%) (%) (%)
Mineralization
1. Deeper high-grade core (>1% CuEq) Head A 0.89 1.55 0.52 6.87 1.85
1. High- Head B 0.95 1.55 0.49 6.80 1.87
✓ Results: recovered 88% of the copper
and 67% of the gold in a concentrate grade core Head C 0.92 1.58 0.50 6.78 1.74
grading 24.5% Cu and 32.2 g/t Au Average 0.92 1.56 0.50 6.82 1.82
2. Broad envelope of mineralization Head A 0.47 2.20 0.29 5.40 1.83
(>0.25% CuEq) 2. Broadly
Head B 0.46 2.40 0.30 5.38 1.81
✓ Results: recovered 75% of the copper Mineralized
Head C 0.41 2.20 0.30 5.47 1.84
and 57% of the gold in a concentrate Envelope
Average 0.45 2.27 0.30 5.41 1.83
grading 22.0% Cu and 23.3 g/t Au
Testwork conducted by Blue Coast Research Ltd., Parksville, BC.
✓ Potential for a simple, conventional flowsheet
Further comminution testing, with results expected in Q3 2020
• Nine variability samples have been collected and send to ALS Kamloops:
• 5 from potential open pit limits (3 from broad envelope of mineralization + 2 from high-grade core)
• 4 from deeper high-grade core of mineralization with underground mining potential
TSXV: GTT 10ADVANCING SADDLE NORTH
Geological Model Preparation: Process
41 Saddle North drill holes • Multi-element geochemistry used
(31,397 metres) relogged to define lithologic breaks
for lithology, alteration, structure & • Geophysical modelling of magnetic
mineralization over winter 2019/2020 and Induced Polarization data
used to delineate various units of
lithological, alteration types, and
structures • A series of hand drawn cross
sections and level plans were
completed for lithology,
structure, alteration and
mineralization
• Scanned and georeferenced
sections were manipulated
using Leapfrog software to
create a well-constrained 3D
geological model
TSXV: GTT 11ADVANCING SADDLE NORTH
Geological Model: Structure & Physical Bounds
Two major structures bound mineralization at Saddle North
1. Poelzer Fault
• Well-defined and
very predictable
• Strongly foliated
zone forming the
footwall to the known
mineralized zone
2. Southern Fault
• Relatively planar
• Marks the southern
contact of porphyritic
intrusive rocks with
host volcanic rocks
• Characterized by
more brittle fracturing
TSXV: GTT 12ADVANCING SADDLE NORTH
Geological Model: Lithology
Lithology Model
• Gold-rich copper porphyry
P1
centered on a series of
monzodiorite and
monzonite intrusions
• Eight lithology phases
defined: six pre-mineralization
phases (P0-P5) and two P2
distinct inter-mineralization
phases (I1-I2)
• Intrusive complex interpreted
to represent a series of
igneous bodies intruded over P3
a relatively short period of
time in late Triassic
• Porphyry phases have
significant controls on Au,
less so on Cu
P4
TSXV: GTT 13Weak
ADVANCING SADDLE NORTH
Geological Model: Alteration
• Potassic alteration - the dominant
style of alteration associated with
intense quartz-magnetite-sulphide A-
style quartz vein stockworks that carry Moderate
higher-grade Au and Cu at Saddle
North
• Quartz-Sericite-Pyrite (QSP)
alteration – a moderate to intense
hydrothermal alteration found both
above and on the shoulders to the
potassic core of the system with Strong
strong showing in the Poelzer footwall
• Strong correlation between
intensity of potassic alteration and
tenor of copper and gold grades
TSXV: GTT 143D View
ADVANCING SADDLE NORTH
Geological Model: Copper Equivalent Grade Shells
• Clear correlation of Cu and Au grades with potassic alteration (potassium
feldspar, magnetite and sulphide) and lithology phases
Alteration Lithology
0.25 % CuEq 0.25 % CuEq
0.75 % CuEq 0.75 % CuEq
• Sections and 3D
1.5 % CuEq 1.5 % CuEq view looking west-
northwest to northwest:
showing correlation
between copper
equivalent grade and
alteration (left) and
lithology (section at
middle, 3D at top)
Prices used to calculate CuEq and AuEq are, Au: $1,300.00/oz, Ag: $16.00/oz, Cu: $2.60/lb. All values are reported in USD and do not consider metal recoveries.
TSXV: GTT 15ADVANCING SADDLE NORTH
Next Steps in 2020
Q2: Expected release of inaugural inferred mineral resource for Saddle North
DISCUSS
DESCRIBE
SUMMARIZE
MATERIAL Mineral
SUMMARIZE DETERMINING
ASSUMPTIONS FACTORS Resource
PARAMETERS METHODS Estimate
• Cut-off grade and basis • Any material factors
✓ • Define methods used
Appropriate for determination
to determine resources
that could affect the and
geological model for mineral resource
• Commodity prices (Ordinary kriging, National
the deposit type estimates
• Mining and processing inverse distance (Environmental, Instrument
• Bulk density method squared, polygonal, permitting, legal, title,
• Search distances and • Metallurgical recovery
etc) socio-economic, 43-101
minimum samples per political, other factors) Technical
block • Costs related to mining,
• Interpolation distances
processing, and G&A Report
and directions
Q3: Results expected from further comminution testing of nine variability samples collected:
• 5 from potential open pit limits (3 from broad envelope of mineralization + 2 from high-grade core)
• 4 from deeper high-grade core of mineralization with underground mining potential
Q4: Anticipated completion of Preliminary Economic Assessment
TSXV: GTT 16Developing a Project Pipeline
Cadia 5.5km
DEVELOPING A PROJECT PIPELINE Big Cadia Little Cadia
Cadia Quarry Cadia Hill
2020 Exploring Property Potential Ridgeway
Cadia East
• Porphyry district comparisons show Tatogga upside
• Initial 10,000 m summer diamond drill program
is planned on two high priority target areas:
Saddle and Quash Pass Red Chris 3km
Main Zone East Zone OP Au ppm
0.5
Gully Zone 0.4
East Zone UG 0.3
Tatogga 0.2
Property 0.1
0
+1000 +1000
Saddle North Anomaly ~3km
Saddle NW SE
Quash Pass
Red Chris mine
+0 +0
N
IP chargeability
Note: Cadia and Red Chris sections sourced from Newcrest’s Exploration Edge presentation (Jan 20, 2020)
TSXV: GTT 18SADDLE AREA
• More to be Found
• Saddle North, along strike, at depth,
and in the Poelzer Footwall
• Western Geochem, Central and
Southern IP anomalies
• New and Old Targets
from Surface
• TTD064: 7.40 m @
2.28 g/t Au, 0.56% Cu
Collars
Legend
2020
Proposed
Past
Drilling
Induced RMI
Au-in-Soil
Polarization Magnetics Quash-Pass
Chargeability Contoured
(ppb)
> 25.0 mV/V >500 nT Plan Map
1–5
Base maps:
5 – 10 6.0 mV/V
100 nT IP Chargeability,
10 – 25 5.0 mV/V RMI Magnetic Contours,
25 – 50 50 m Elevation Contours,
4.0 mV/V 50 nT & Streams
50 – 75 .
3.0 mV/V 0 nT Projection: UTM NAD 83
75 – 100 Zone 9
TATOGGA PROPERTY 100 – 150 2.0 mV/V 0 250 500
Saddle North >150
0.0 mV/VSADDLE NORTH
• Porphyry: More to be Found
• Susceptibility constrained
magnetic inversion
Hole
• Sulfide constrained chargeability
TTD064
inversion
• New and Old Targets
from Surface
• TTD064: 7.40 m @
2.28 g/t Au, 0.56% Cu
Magnetics IP AuEq (g/t)
Inversion Inversion >1
Saddle North
(RTF) > 50 mV/v . View to South-East
.
> 500 nT
0.75 g/t Sections:
. IP Chargeability,
.
RTF Magnetics
0 0.5 g/t .
0 nT . Projection: UTM NAD 83
. Zone 9
0.25 g/t
TATOGGA PROPERTY . 0 250 500
Saddle North
. . .
< -500 nT 0 mV/V 0 metres430,000 mN
432,000 mN
QUASH-PASS
• Four Distinct Soil Geochemical Targets
• Main Trend, Silverhead, Central, &
6,402,000 mN Valleyside
• Multielement & Index Signatures
• Large base metal surface
expression
• Multielement zonation and
corridors
Au-in-Soil
(ppb)
1–5
5 – 10
10 – 25
25 – 50
50 – 75
75 – 100
100 – 150
>150
Induced Apparent
Polarization Conductivity
Chargeability (Mobile MT) Quash-Pass
> 25.0 mV/V > 6.86 mS/m
Plan Map
6.0 mV/V 5.59 mS/m Base maps:
IP Chargeability,
5.0 mV/V 5.06 mS/m
213 Hz MT, 50 m Elevation
4.0 mV/V 4.93 mS/m Contours, & Streams
.
Projection: UTM NAD 83
430,000 mN
432,000 mN
3.0 mV/V 4.73 mS/m Zone 9
TATOGGA PROPERTY 2.0 mV/V 4.54 mS/m 0 250 500
Quash-Pass 0.0 mV/V < 3.19 mS/m metresSOCIAL RESPONSIBILITY 2019 FIELD SEASON
Working in Tahltan Traditional Territory 27% Tahltan employees
Exploration spending in
$3M contracts with Tahltan or
Tahltan Partner companies
Community Sponsorship and
~$70k Communications Agreement
Respect for Community, Land and Wildlife
• Continuing water quality sampling 2017-2020
• Archaeological surveys of drill and camp sites
• Engaging with TCG Lands Director and the
Tahltan Heritage Resources Environmental
Assessment Team
• Flight management plan developed to minimize
disturbance to community and wildlife
TSXV: GTT 22INVESTOR INFORMATION
Equity Structure & Analyst Coverage
Institutions 39.6 Capitalization and Balance Sheet (C$)
Share Price2 $1.61
% GTT Retail Basic Shares Outstanding3 125.9M
Ownership1 24.7 Options Outstanding3 10.4M
11.9
Directors & Basic Market Capitalization $202.7M
Management 9.9% Cash4 ~$15.3M
14.9 8.9
Ross Beaty Total Debt $0
Newmont (14.9%) participated in 2 strategic Analyst Coverage
investments in GT Gold in 2019 5: • Agentis Capital – Michael Gray
• C$17.6M closed on May 29
• Cormark Securities – to be confirmed (analyst left firm Apr 2020)
• C$8.3M closed on December 12
• Industrial Alliance – George Topping (initiated May 12, 2020)
1. Source: IR Insight, Cap IQ, Morningstar, direct communication with firms • M Partners – Bereket Berhe
and SEDI filings to April 20, 2020.
2. As at close of day May 14, 2020. • Paradigm Capital – David Davidson
3. As at April 20, 2020.
4. As at December 31, 2019. • PI Financial – Chris Thompson
5. Refer to press releases dated May 29, 2019 and December 12, 2019.
.
• Stifel GMP – Tyron Breytenbach (initiated Apr 17, 2020)
TSXV: GTT 23MILESTONES AHEAD
2020 Working Towards a PEA and Project Pipeline
Advancing Saddle North gold-rich copper porphyry discovery
First drill holes (600 m drilled) - 2017
Discovery made (8,200 m drilled) - 2018
Delineation drilling (23,900 m drilled) - 2019
.......................................................... .......
✓ Metallurgical results - 2020
✓ Geological model
Ongoing engagement with Tahltan Nation
Inferred resource
Exploration of new targets
Preliminary Economic Assessment
TSXV: GTT 24Appendix
Systematic Exploration: Towards a Geological Model & Project Pipeline
Geological
Model
Assay Results
Hyperspectral/ Alteration Mapping
Structural Interpretation
Drill Testing & Oriented Core
Regional Geophysics
Geochemistry
Mapping
TSXV: GTT 26Saddle South – 2019 Exploration Drilling
TSXV: GTT 27Copper Outlook – Growing Demand for New Supply
Mine production and demand for mine supply Mt (forecasts after 5% disruption allowance)1
New projects are required to meet future Projected 5Mt deficit in new copper
demand growing at ~1.5% p.a. mine supply by 2028 as existing
production declines and demand
continues to grow steadily2
Global copper supply declines with diminishing long- Demand for copper is growing sustainably 3
term production1,2
• Driven by copper’s inherent high-efficiency and environmental
• Mine production expected to peak by 2022, creating benefits
structural deficit
• Driven by increased demand for electric vehicles and renewable
• Long-term production affected by decreasing mined energy systems
grades and increasing capital intensity
• Green initiatives led by China - with a predicted 50% of total
primary-energy supply coming from renewable sources by 2050
1. Source: Wood Mackenzie mining investment presentation at TD Mining Conference
in January 2019.
2. Source: RBC Capital Markets report on copper, published May 7, 2018. 3. Source: ICA (International Copper Association) website 2019.
TSXV: GTT 28PAUL HARBIDGE, PRESIDENT, CEO AND DIRECTOR
Sunlife Plaza
1100 Melville Street, Suite 610
Vancouver, BC V6E 4A6
236-427-4711
www.gtgoldcorp.caYou can also read
