COLT RESOURCES CORPORATE PRESENTATION

Transcription

1 COLT RESOURCES CORPORATE PRESENTATION April 2015

2 CAUTIONARY STATEMENT DISCLAIMER This document has been prepared by Colt Resources Inc. (the Company ) solely for investor presentations. This document does not constitute an offering document. This document is the sole responsibility of the Company. Information contained herein does not purport to be complete and is subject to certain qualifications and assumptions and should not be relied upon for the purpose of making an investment in the Company s securities or entering into any transaction in relation therewith. The information and opinions contained in this document are provided as at the date hereof and are subject to change without notice and, in furnishing this document, the Company does not undertake or agree to any obligation to provide recipients with access to any additional information or to update or correct the document. No securities commission or similar regulatory authority has passed on the merits of any securities referred to in this document, nor has it reviewed this document. Forward Looking Information Certain of the information contained in this presentation may contain forward-looking information. Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of the Company, or the assumptions underlying any of the foregoing. In this presentation, words such as may, would, could, will, likely, believe, expect, anticipate, intend, plan, estimate and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company s control. These risks, uncertainties and assumptions include, but are not limited to, those described under Risk Factors in the Company s revised annual information form available on SEDAR at and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this presentation to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws. National Instrument Technical and scientific information contained in this document relating to the Company s projects in Portugal is derived from the following National Instrument Standards of Disclosure for Mineral Projects ( NI ) compliant technical reports: A Preliminary Economic Assessment on the Tabuaço Tungsten Project dated October 1, 2013, A Preliminary Economic Assessment on the Boa Fe Gold Project, Portugal, dated May 7, 2013, the NI Technical Report, Boa Fé/Montemor Gold Project, dated March 4 th, 2013, the Tabuaco Tungsten Project, Portugal. NI Technical Report, dated November 15 th, 2012, the NI Technical Report Boa Fé/Montemor Gold Project Alentejo Region of Southern Portugal dated August 16 th, 2012, the NI Technical Report Boa Fé/Montemor Gold Project Alentejo Region of Southern Portugal dated December 21, 2011, the NI Technical Report on Exploration, Montemor Gold Project, Alentejo Region of Southern Portugal dated March 4, 2011, the Technical Report (NI ) on the Armamar Meda Concession, Northern Portugal dated September 6, 2010 and the Technical Report (NI ) on the Penedono Gold Concession, Northern Portugal dated August 27, 2010 (collectively, the Technical Reports ). The Company has filed the Technical Reports under its profile on SEDAR at Technical Advisor SRK Consulting (U.K) Inc. has been awarded a broad mandate to provide overall technical assistance to the Company in Portugal and will be producing several NI compliant reports as projects progress (see: January 18, 2011 press release). Gareth O Donovan CEng MSc BA (Hons) FIMMM FGS - SRK Exploration Services Ltd. is the independent qualified person, as defined in NI , for the Company s projects in Portugal. 2

3 A DIVERSIFIED ASSET PORTFOLIO 3

4 VALUE DRIVERS - Tabuaço Tungsten Project (PEA information) Tungsten price sensitivity analysis results (left table) and discount rate sensitivity analysis results (rigth table). Information extrated from Colt September 4th, 2013 press release Positive Preliminary Economic Assessment for Colt s 100% owned Tabuaço Tungsten Project, Northen Portugal - Boa Fé Gold Project (PEA information) Gold price sensitivity analysis results. Information extrated from Colt May 7 th, 2013 press release Preliminary Economic Assessment filed on SEDAR for Colt s 100% Boa Fé and Montemor Projects, Southern Portugal - Senhora do Convento, QSPA (Wine company), 100% owned and cash flow positive operating company ( - Book value: CAD$10M+ - Borba concession (base metals); - Cercal concession (base metals); - Santo António Joint Venture (JV) (gold); - Colt Resources Middle East (base metals). 4

5 TABUAÇO PROJECT Colt s Tungsten Project Tabuaço project is a skarn type deposit located in the North Central region of Portugal. The tungsten mineral is present as scheelite and occurs as fine to coarse disseminations within the 2 main skarn horizons and numerous lenses or pods of tungsten bearing skarn material. Colt has 100% mineral rights on the concession covering the Tabuaço project. EML was granted in February, A positive Preliminary Economic Analysis on Tabuaço project was relesed in October, From NI , October,

6 TABUAÇO PROJECT The upwards potential Tabuaço tungsten project is divided in 5 distinct geological blocks (from SSE to NNW): The SPA block, the Winery block, the GAP block, the Aveleira block and the Quintã block. 6

7 TABUAÇO PROJECT The upwards potential What are the geological features that support the upwards potential? Large-scale geological strike ~NNW-SSE (the same regional direction of the Variscan fold axes) suggests that additional skarn tungsten deposits can occur on-strike to the NNW of the Tabuaço deposit (Aveleira is one example); The geological formation considered as the most favourable to host tungsten bearing skarns (Bateiras formation) extends from Tabuaço to the NNW for several kms within Colt s concession and beyond; The Armamar-Tabuaço granite intrusion along the NNW trending belt is believed as a key contributor in the generation of tungsten-rich skarn deposits; The metasedimentary suit and its enclosed mineralized skarn horizons dip underneath the granite to some extent, indicating that the deposits remain open for further expansion; A late cross cutting fault system affecting the project area appears to cut the regional NNW-SSE trending belt into distinct geological blocks, affecting the expected alignment for geology and mineralization with regards to adjacent blocks. 7

8 BOA FÉ/MONTEMOR PROJECT Colt s Gold Project The Boa Fé Gold project is located in the Alentejo region of Portugal.. Current license area encompasses an EML and an exploratorion licence both granted in November, A positive Preliminary Economic Analysis on Boa Fé gold project was relesed in May, The known Montemor gold deposits are located within a segment of the Boa Fé shear corridor, considered as part of the wider Montemor shear zone that crosses the Ossa Morena Zone, an important tectonic and metallogenic domain in southern Portugal. Gold mineralisation is considered to conform to the orogenic gold and is hosted in either silicified schist or felsic meta-volcanics. Gold occurs in association with arsenic minerals, in fractures, and in gangue. Although there is a close association with sulphides, a significant quantity of gold also occurs independently. 8

9 BOA FÉ/MONTEMOR PROJECT Colt s Gold Project 9

10 BOA FÉ/MONTEMOR PROJECT Infill Drilling concluded in several deposits 10

11 BOA FÉ/MONTEMOR PROJECT The future Colt February 9 th, 2015 press release: Earn-in agreement for Boa Fé Montemor Gold Project Montréal, Québec, Colt Resources Inc. ( Colt or the Company ) (TSXV: GTP) (FRA: P01) (OTCQX: COLTF) is pleased to announce that it has signed a binding letter of intent (the LOI ) for its Boa Fé Montemor ( Boa Fé Montemor ) gold exploration concession located in Portugal, setting out the terms of an exclusive proposed earn-in arrangement with DSM Resources Corp ( DSM ), a private mineral exploration company. Under the terms of the LOI, DSM can earn up to a 100% interest, in three phases as described below, in Aurmont Resources Unipessoal Lda ( Aurmont ), the wholly-owned Portuguese subsidiary of the Company which currently owns the Boa Fé Montemor project. (For further information, please follow the hyperlink Earn-in agreement for Boa Fé Montemor Gold Project) 11

12 BORBA PROJECT Non-precious metal asset The Borba project is copper project and the specific target is the remaining resource at the old Miguel Vacas mine, last exploited in the 1980 s. Concession is located in the Alentejo region of Portugal. Quick geological review of Borba concession: - Prolific geological setting, in the Ossa-Morena zone of the Hercynian orogen; - Sedimentary & volcanic formations ranging from the Proterozoic up to the Devonian; - A number of old Cu mines and several Au anomalies; - Includes part of the 70km long, NW-SE trending Barrancos-Alandroal Cu- Au belt. Mid 1980 s Minargol s Miguel Vacas open pit (Mined ) - Extracted ca. 346 tons of oxide copper ore; - Produced ca. 895 tons Cu metal in concentrate (with very low metal recoveries). 12

13 BORBA PROJECT The upwards potential Several historical resources estimates converged at a total of around 3.1Mton of ore containing ca. 43,000t of copper metal; The structure seems to remain open, both along strike and down dip; With a reasonable grade (~1.4%Cu), a steep dip (70º) and large width (ave.9-10m), Miguel Vacas may hold significant potential at current copper prices; The last available resource estimation is not NI compliant. It is recommended that Colt proceeds investigation of Miguel Vacas deposit, with the aim of defining a NI compliant resource inventory; A modest diamond drill program is needed for the above purpose; Campaign is already planned and evaluation drilling can begin immediately after funding. Ideal for JV partnership. Colt drilled 2 holes at Miguel Vacas in late July 2014 : one hole under the old open pit mine and another shallow hole north of the pit. Hole BOMV intersected 3 Cu mineralized zones between 89.15m and 143.9m down hole, confirming extension of the Miguel Vacas copper mineralization underneath the old pit down to a vertical depth of 110 meters (70 meters under pit bottom). Hole BOMV confirmed the extension of the mineralized structure to the north of the Miguel Vacas pit. 13

14 CERCAL PROJECT Base and precious metal potential In the Iberian Pyrite Belt of South Portugal and SW Spain, a prolific mineral province with a high track record of production of Cu, Zn, Pb, Sn, Au, Ag, and pyrite for sulphuric acid manufacturing (home to giant deposits like Neves-Corvo, Aljustrel, Rio Tinto, Tharsis) Prolific geologic setting, with typical IPB volcanic & sedimentary units Several geophysical anomalies worth testing, which may indicate massive sulphide deposits Several geochemical anomalies for Au, Ag, Cu, Zn, Pb, etc. A number of small-scale old mines and mineral occurrences for Fe, Mn, Cu, Zn, Pb, Au, Ag, Ba Cu-Au-Ag mineralized stockwork hosted by felsic volcanic tuffs known at Salgadinho Widespread alteration phenomena recognised in country rocks (chloritisation, sericitisation, ankeritisation, silicification), indicative of strong hydrothermal activity Several low-temperature silica±fe-mn veins with anomalous metal contents, suggesting late- to post-tectonic hydrothermalism, which may have generated epithermal deposits 14

15 CERCAL PROJECT Salgadinho Cu-Au-Ag deposit a drill ready target Salgadinho discovered and drilled in the 1970 s by Government s exploration department SFM. Also drilled to limited extent by three exploration companies between 1981 and Stockwork sulphide mineralization disseminated in sericitized felsic tuffs and chloritized tuffites Sulphide mineralization ranging up to >30m thick, 30ºNE dip, and intersected by drilling for 1.3km along strike and up to 650m down-dip 60 historical holes, but these are too widely spaced, and their drill core was in most cases inadequately sampled Salgadinho Cu-Au-Ag mineralization Salgadinho Au Mineralization Historical (non NI compliant) resource estimate done in 1983 by a Government geologist, points at 1.28 Mton with 0.90% Cu, 0.73g/t Au, 9.48g/t Ag He noted that this resource is open laterally, and estimated an upwards potential up to 7.55Mt It is our view that this may have underestimated the deposit, due to too widely spaced drilling, large amount of core losses, and inadequate sampling Gold content may have been overlooked, as most core sampling was concentrated in zones with visible copper minerals, whereas gold can occur elsewhere where there is only pyrite Salgadinho is drill ready, with a view to outline a NI compliant resource estimate and ideal for JV partnership 15

16 COLT MIDDLE EAST - CRME Focused on securing near term, world-class production assets in emerging mining areas; CRME has access to an international network of investors attracted by its business model; CRME management has a proven track record of raising capital, and successfully constructing/operating billion dollar mining projects. The team brings a diversified skill set essential for de-risking mining projects at all stages of the mining cycle; from exploration to mine building, commissioning, production, and expansion; Colt Middle East believes in stakeholder participation where stakeholders are provided with exposure to project revenues. ColtME s long-term strategy is to build a major diversified world class mining company with its stakeholders. 16

17 PROJECTS - PAKISTAN The deposits, which are the focus of Colt Middle East Pakistan s interest, are all located in the Tethyan belt, which runs from Asia to Europe and comprises one of the largest mineral deposits on earth. Particular area of interest is in the Chagai Hills, an area explored in detail in the 1970s by the geological survey of Pakistan. It is estimated that there could be over a substantial wealth of recoverable mineral resources in the region which if further investigated could be exploited for the greater benefit of the Baloch people and the Pakistani nation. All the surveys conducted so far have supported this assumption. Project highlights: Very large magnetic anomaly on map. Close to Nok-Kundi Town (District Chaghi). Close to the Quetta-Taftan highway (RCD High Way). Close to the Quetta-Zahidan Railway Track. Dispersed population and generally lowly populated area. Local people are very supportive. 17

18 QSPA, 100% OWNED Located on a stunning property high in the Douro Valley, Portugal, SDC has a long history of making excellent Ports; Committed long-term winemaker, Jean-Hugues Gros; Currently sold in Europe and the USA; SDC Vintage Port on all first class American Airlines flights; 2011 Vintage received a score from London, England. 18

19 RECENT MILESTONES Incubated and launched Colt Resources Middle East (CRME) as a separate portfolio company; Completed all BFS required infill drilling (5650m) at Boa Fé gold project; Completed the majority of BFS required infill drilling (5600m) at Tabuaço tungsten project; Successful resource expansion campaign at Tabuaço tungsten project - New discovery on first drill target in the GAP area confirms management s belief in project s significant upside potential (Press release from August 1 st, Colt Resources reports encouraging results from the gap zone at its Tabuaço Tungsten Project, Northern Portugal); Gap discovery will lead to lower initial project CAPEX and increased mine life. Colt reported first drilling results from Miguel Vacas copper project, within its Borba concession, east central Portugal with results with 0.9 m of 8.3% (Press release from January, 28 th 2015 Colt Resources reports first drilling results from Miguel Vacas copper project, within its Borba concession, east central Portugal); Significant company wide cost reduction program implemented. 19

20 LOOKING FORWARD Unlocking the value of our non-precious metal assets; Emphasis to be given towards completion of Tabuaço tungsten project BFS; Continued evaluation of M&A and JV opportunities; JV earn-in partner expected to fund aggressive 12,500 meter regional drilling campaign aimed at resource expansion on our Boa Fé, Montemor-o-Novo gold project in; 4000 meter drilling campaign planned in 2015 at past producing Miguel Vacas open pit copper mine. Strengthening of board and management team; Continued cost reduction initiatives. 20

21 VALUE DRIVERS - Tabuaço Tungsten Project (PEA information) Tungsten price sensitivity analysis results (left table) and discount rate sensitivity analysis results (rigth table). Information extrated from Colt September 4th, 2013 press release Positive Preliminary Economic Assessment for Colt s 100% owned Tabuaço Tungsten Project, Northen Portugal - Boa Fé Gold Project (PEA information) Gold price sensitivity analysis results. Information extrated from Colt May 7 th, 2013 press release Preliminary Economic Assessment filed on SEDAR for Colt s 100% Boa Fé and Montemor Projects, Southern Portugal - QSPA, 100% owned and cash flow positive operating company ( - Book value: CAD$10M+ - Borba concession (base metals); - Cercal concession (base metals); - Santo António Joint Venture (JV) (gold); - Colt Resources Middle East (base metals). 21

22 CAPITAL STRUCTURE TSX-V: GTP FRANKFURT: P01 OTC Pink: COLTF Shares outstanding m Shares fully diluted 1,2,3, m Directors & Officers Non-European Retail European Retail HNW (European) Shareholders Current share price 4 $ wk high low 4 $ $0.33 Global Institutional 0% 10% 20% 30% 40% Market capitalization Average exercise price of warrants and options $39.2m $0.31 per share As of April 22 nd ,600,000 options outstanding with a weighted average exercise price of $ ,362,089 warrants with average exercise price of $ ,385,965 zero dividend convertible (0.57 Euros) prfd. shares August 2016 maturity. 4. Source: TSX-V Exchange April 22 nd 2015 From Google Finance 22

23 THANK YOU! For further information visit our website at Corporate presentation April 2015 Nikolas Perrault, CFA President and CEO Tel: Shahab Jaffrey Chief Financial Officer Tel: