drake resources
STRATEGY UPDATE
Presented by Jason Stirbinskis,CEO
Aprii 2015
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Disclaimer & Competent Persons Statement
This presentation has been prepared to provide information on Drake Resources Limited's projects. It is not intended as an offer, invitation solicitation or recommendation with respect to the purchase or sale of any securities. This presentation should not be relied upon as the sole representation of any matter that a potential investor should consider in evaluating Drake. Its affiliates or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained in this presentation, and they do not accept any liability for any statement made in, or omitted from, this presentation. Prospective investors should make their own independent evaluation of an investment in the Company.
Caution Regarding Forward Looking Information.
This document contains forward looking statements concerning Drake. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on Drake's beliefs, opinions and estimates of Drake as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments
Competent Persons Statement
The information related to Seimana exploration results is extracted from the report entitled "Final Drill Results - Seimana Gold Project" created on
30/7/14 and is available to view on www.drakeresources.com.au. The information related to Sulitjelma exploration results is extracted from the report
entitled "Surface samples reveal high grade copper and zinc - Sulitjelma" created on 5/11/14 and "VTEM results reveals 6 targets at Sulitjelma Project -
Norway" created on 22/1/15, both reports are available to view on www.drakeresources.com.au. The company confirms that it is not aware of any new
information or data that materially affects the information included in the original market announcements. The company confirms that the form and
context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
The information related to Granmuren exploration results is extracted from the report titled "Granmuren Final Results adds deeper Ni/Cu mineralisation" created on 28/5/13 and is available to view on www.drakeresources.com.au. The information related to Joma exploration results is extracted from the report titled "Joma EM results confirm prospective targets" created on 5/9/13 and is available to view on www.drakeresources.com.au. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. This information was prepared and first disclosed under the JORC code 2004. It has not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was reported.
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Lero/Lefa 5+Moz Gold Yanfolia 3+Moz Gold
Siguiri 5+Moz Gold
TriK 3+Moz Gold
Kouroussa 1+Moz Gold
Kiniero 1Moz Gold
Mansounia 1+Moz Gold
Kalana 2Moz Gold
Kodieran 2Moz Gold
3
Sei
Sei
Spe gold
Best ro
Best dr
40+ Gold Abu mo work Avo dep sou Mult Sigu Man
100k
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Seimana Gold - Drilling
2014 program
17 RC holes ~100m
deep at 7 locations for
~1600m
10 intersections of
better than 10m x g/t
6 holes intersected
>5g/t
Results include
4m @ 19.80g/t Au
7m @ 2.64g/t Au
3m @ 5.60g/t Au
5m @ 2.64g/t Au
3m @ 3.50g/t Au
5 of the 7 prosects drilled returned strong results.
33+ more 'priority'
targets to go
1M @ 3g/t from 34m in
KRDR001 AND 7m @
2.64g/t from 18m
including 3m @ 5.63g/t
AND 3m @ 3.50g/t from
66m in KRD002
3m @ 5.60g/t from 26m
AND 1m @ 3.90g/t from
39m in hole KOTR001 AND
1m @ 1.2g/t from 29m
and 1m @ 1g/t from 48m
in KOTR002
14m @ 1.69g/t from 55m including 3m @ 3.50g/t from 66m in KROU002
AND
10m @ 1.34g/t from 36m
including 3m @ 2.58g/t
from 42m in KROU002
4m @ 19.8g/t from 50m including 1m @ 52.6g/t in TAMR001 AND 7m @
1.55g/t from 34m including 1m @ 8.13g/t from 40m AND 8m @
1.8g/t from 59m including
5m @ 2.64g/t from 61m in
hole TAMRC002
26m @ 0.41g/t within 71m of low grade
mineralisation from surface in FOUR002 AND
8m @ 0.92g/t in FOUR005
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Sulitjelma Copper Zinc
PAN JV asset1
Long and substantial regional copper / zinc
mining history
2014 VTEM covered 70km2 of highly
prospective ground
6 priority targets identified, surface
sampling above targets included grab
samples of
Up to 10.7% Copper, 15.1% Zinc
April 2015 program commences with
Ground EM over the 6 targets
Intention to conduct follow up work in
2015
1: Under the JV terms, Panoramic has the right to sole-fund exploration to earn a 70% interest in the project.
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Granmuren Nickel Discovery
Granmuren Deposit
Nickel / copper massive and disseminated sulphides From surface to +300m
Open laterally in all directions
& at depth
Long intercepts of low grade
sulphides
Higher grade intercepts at
depth
Grades comparable to open pit nickel mines of the Nordic region
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Granmuren Nickel Province
Regional - Bergslagen
1000 years of mining, 6000 known deposits Diverse - BIF, Skarn, Base Metals and REE Eg. Garpenberg polymetallic and Sala silver
Drake's Regional Footprint
Numerous magmatic Ni-Cu occurrences - 100%
Drake
Independent view - 'Potential World Class Nickel
Camp'
Correlates with global nickel deposit forming era
eg Thompson, Raglan, Sudbury, Kotalahti
NEXT STEPS
VTEM investigation of regional targets
Based on geological setting, sampling and historic production
"The combination of these aspects, and the demonstrated presence of numerous magmatic Ni-Cu occurrences within Bergslagen, all point to the area having potential for the region to contain a
world-class Ni camp".
Drake controls this potential Nickel Province!
Joma Copper Zinc
Joma Mine
Possibility of near term production via recommissioning of old operations Joma Mine Exploration target - see announcement 17 March 2014
Joma Exploration
51km2 of Koli Copper/Zinc complex
Under explored
Next Steps - Drilling of Target 1.
Geophysics signature larger than the
historic Joma mine
25 known Cu/Zn deposits in the region
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H1 Newsflow
MARCH
Entitlement issue
Commission Drilling Seimana
Commission EM Sulitjelma
APRIL
1250M drilling program at Seimana commences
Ground EM at Sulitjelma commences
MAY Seimana drill results
JUNE
Sulitjelma ground EM results
Drake H2 plan