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Focus is gold exploration in Tanzania
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Starting with a solid asset base of exploration and development
projects in Tanzania
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New capital structure following a 1:50 consolidation
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The company cost base has been reset
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Prioritising financial resources into GOLD exploration in Tanzania
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Technically focused. We aim to deliver value through our
exploration results
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Reviewing the value of the Ntaka Nickel Project to Indiana
shareholders
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Exploration is underway at the Naujombo gold target
www.indianaresources.com.au
2
INDIANA RESOURCES - Starting Strongly
A new company under new management
Campbell Baird Managing Director
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Capital Structure
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ASX Code
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IDA
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Issued Capital (shares)
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31.3M
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Market capitalisation
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$3.6M
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Cash (June 30 2016)
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ca. $0.7M
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EV
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$2.9M
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No. Options
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407K
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A mining executive who has been part of the Australian and global mining industry for over 25 years. During his 4 years of tenure as CEO at Focus Minerals Pty Ltd, Campbell increased annual gold production from 5,000 ounces to 175,000. Prior to holding this position, Campbell had extensive international experience developing projects and leading multiple feasibility studies across multiple commodities.
Derek Fisher Chairman
Dr Fisher has more than 40 years' experience in mining companies, spanning both corporate and operational roles, with a particular emphasis on iron ore and nickel projects. He has played key roles in listing and managing resources companies on both the ASX and TSX as well as identifying, evaluating, developing and operating quality mine developments.
Bruce McFadzean Non-Executive Director
Bruce has over 30 years' experience in mining and minerals processing across a range of commodities including gold, copper and nickel. Bruce has had extensive exposure to all levels of operations, with his work history including five years with BHP Billiton, ten years with Rio Tinto and overseas roles where he managed the construction and start-up of several new mining operations.
Indiana shareholder base
Nick Corlis General Manager - Technical
Nick is a geologist with over 20 years of Australian and international experience in the resources industry across a broad range of commodities including, gold, iron ore, base metals, graphite and coal. He has significant experience in mineral exploration and project management; from M&A/ project generation, discovery and resource definition, through to feasibility and development.
Remaining shareholders
Top 20
Shareholders
www.indianaresources.com.au
3
TANZANIAN FOCUS ON GOLD AND NICKEL
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The Indiana team are custodians of:
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Kishugu gold target
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Naujombo gold target
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Ntaka Hill nickel project
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Nanyindwa nickel-copper prospect
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Misikisi nickel-copper prospect
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Substantial datasets from a decade of
exploration campaigns
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Previous discoveries give confidence of
further exploration success
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Tanzania is a highly prospective country for
gold
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Excellent existing infrastructure
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Tanzania is the 4th largest producer of gold in
Africa
Outstanding gold exploration targets - immediate focus of strategy
www.indianaresources.com.au
4
A NEW GOLD PROVINCE IN TANZANIA
Kishugu / Naujombo gold targets
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Two large drill ready anomalies
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Each anomaly ~6km x 600 m
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Anomalies are 35 km apart and sit on a
common structural corridor
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Kishugu soil sampling results up to 0.9
g/t along main trend1
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Kishugu 2015 test pitting program in
2015 returned positive results (see Appendix B)2
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Limited soil sampling at Naujombo to
date (up to 0.1 g/t), but enough to identify extensive trend within the structural setting3
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Both anomalies exhibit very similar
multi-element signatures. Gold correlates strongly with arsenic, bismuth and silver signatures
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NO drilling on either target areas
Location of Kishugu and Naujombo
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Since announcing these exploration results on 14 October 2014, Indiana is not aware of any new information or data that materially affects the information included in that announcement.
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Since announcing these exploration results on 30 November 2015, Indiana confirms that it is not aware of any new information or data that materially affects the information included in that announcement.
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Since announcing these exploration results on 7 May 2015, Indiana confirms that it is not aware of any new information or data that materially affects the information included in that announcement.
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www.indianaresources.com.au
5
KISHUGU
Extensive gold-in-soil anomaly - Work-to-date
IP Conductivity, gold in surface soils and location of planned drill lines2
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Measures 6km by 600m @ +10ppb with significant higher soils values within the main trend1
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Soil sampling on 400m x 200m centres
over main trend
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Gradient array induced polarisation
(GAIP) over identified trend
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7 test pits to nine metres depth on
selected targets, but failed to intersect bedrock (see Appendix B)
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No drilling in the area and little
effective outcrop
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Work to date has not closed the
anomaly off along the strike
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Since announcing these exploration results on 14 October 2014, Indiana confirms that it is not aware of any new information or data that materially affects the information included in that announcement.
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Since announcing these exploration results on 26 November 2014, Indiana confirms that it is not aware of any new information or data that materially affects the information included in that announcement.
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www.indianaresources.com.au
6
NAUJOMBO
Developing gold-in-soil anomaly
Naujombo soil sampling1
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6km x 1km soil anomaly
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Located ~35km north-east of Kishugu
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Similar structural setting to Kishugu
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Similar geochemical and geophysical
signature to Kishugu
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Niton analysis shows arsenic levels
most closely correlate to existing laboratory analysed gold data
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Reconnaissance soil sampling
conducted on a 400m x 200m grid with maximum values of up to 131ppb Au (0.13g/t)1
1. Since announcing these exploration results on 7 May 2015, Indiana confirms that it is not aware of any new information or data that materially affects the information included in that announcement.
www.indianaresources.com.au
7
KISHUGU AND NAUJOMBO
Work underway
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In-fill soil sampling is underway at Naujombo
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Gradient Array Induced Polarisation (GAIP) work underway at Naujombo
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Priority drill targets identified at Kishugu
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Current work at Naujombo will guide drill programs
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RAB drill programs to commence at both Kishugu and Naujombo in July / August
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Potential for early exploration success to provide re-rating within a market responding to
strengthening gold sentiment
Ntaka Exploration Camp and road to project - note mobile phone tower in background
www.indianaresources.com.au
8
Ntaka Hill Nickel Project (60% and project manager)
Re-evaluation of a smaller mine option may add significant value
Ntaka Hill Resource model showing a 0.75% Ni cut-off1
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High-grade lower capex project identified
and scoped
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High-grade core within existing 2013 JORC
Resource1
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Mix of open pit and UG over 10 years,
potential to produce ~10,000 tonnes of Ni
metal per annum1
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Excellent metallurgy capable of producing a
premium concentrate with low impurities (~18% Ni & low levels of MgO).
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Access to existing road and port
infrastructure
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Low holding cost, limiting future
expenditure
Indiana management is reviewing how best to
maximise the value of Ntaka Hill for shareholders
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Power infrastructure is expanding into
region
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Retention Licence provides security of
tenure to April 2020 - low cost exposure to
Ni price upside
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Significant exploration upside; no inclusion
1. Since announcing this exploration information on 13 July 2015, Indiana confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the exploration information in that announcement continue to apply and have not materially changed.
of exploration results in resource model since 2012
www.indianaresources.com.au
9
Ntaka Hill
Ntaka offers significant opportunity
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An immediate head start over the majority of its global competitors in the nickel industry
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Control of a project with a desirable
commodity in a stable jurisdiction
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A large world class well defined
resource from surface (see Appendix C)
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Potential resource upside with inclusion
of drilling post 2013
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Excellent exploration upside
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High-grade scenario indicates scope for
lower half of cost curve
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Sufficient critical mass to move straight
to DFS level and then into production
within 24 months
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Potential for relatively low capital
intensity
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Access to existing infrastructure
Significant high-grade intersections at Ntaka Hill since 2006
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NAD13-372: ASX announcement 1/ November 2013
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NAD11-238: ASX announcement 3 November 2011
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NAD10-220: ASX announcement 14 December 2010
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NAD10-226: ASX announcement 25/1/2011
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NAD013: ASX announcement 17 /7/2006
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NAD08-121: ASX announcement 6/1/2009
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NAD07-028: ASX announcement 21 11/2007
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Since announcing these seven exploration results, Indiana is not aware of any new information
or data that materially affects the information included in those announcements.
www.indianaresources.com.au
10
REGIONAL EXPLORATION OPPORTUNITY
Substantial exploration data set with limited drilling
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Historical focus and significant expenditure on nickel exploration
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Significant datasets from multiple
exploration campaigns
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Over 68,000 surface samples
(soil/stream/rock chip)
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VTEM and soil surveys have identified
several nickel sulphide and copper targets
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Au anomalies in stream sediment surveys
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High likelihood of defining and delineating
additional targets
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Soil sampling programs will be undertaken to
refine previous results and improve targeting for follow up drilling programs
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Regional targets:
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Nanyindwa nickel sulphide
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Misikisi nickel sulphide
Regional soil sampling programs since 2006
www.indianaresources.com.au
11
MISIKISI AND NANYINDWA
Early stage nickel sulphide targets
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Misikisi1
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Up to 3.1% Ni in Niton surface samples
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Wide sampling on a 400 x 200m grid
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Geochemistry infers ultramafic host
rock present
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Nanyindwa
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Ni and Cu anomalism at surface
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Interpreted ultramafic
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Electromagnetic target coincides with
anomalous copper like Ntaka - massive sulphide target
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Next steps will be to follow up in-fill soil
1. See Appendix A for JORC 2012 Table One Reporting