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TSX.V: WKM November 2012
Near Term Development Long Canyon Trend Exploration
At and Near Surface Gold TUG Conceptual Pit Model
This presentation has been prepared by West Kirkland Mining Inc. (“West Kirkland” “WKM” or the “Company”). Information included in this presentation regarding the Company’s mineral properties has been compiled by R. Michael Jones, P.Eng, the President and Chief Executive Officer of the Company, and a non-independent Qualified Person for purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”), based on the independent technical reports, and Press Release Information filed by the Company with the Canadian securities regulators. For more detailed information regarding the Company and its mineral properties, you should refer to the Company’s independent technical reports and other filings with the Canadian securities regulators, which are available at www.sedar.com. Scientific or Technical information contained herein is derived from the Company’s technical reports which include more detailed information with respect to the Company’s properties, including the dates of such reports and the estimates included therein, details of quality and grade of each resource, details of the key assumptions, methods and parameters used in the resource estimates, a general discussion of the extent to which the resource estimates and the other estimates and projections included in the reports may be materially affected by any known environmental, permitting, legal, taxation, socio-political, marketing, or other relevant issues.
Information included in this presentation, the Company’s independent technical reports and the Company’s other public statements related to its mineral properties has been prepared in accordance with securities laws in effect in Canada. This presentation also contains information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This presentation is not an offer to sell, or a solicitation to buy, any securities in any jurisdiction. The Toronto Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this presentation, which has been prepared by the Company. Historical results presented herein are not guarantees or expectations of future performance.
Certain of the statements made herein, including statements regarding the timing of future activities and achievements by the Company, future anticipated exploration and development programs, business plans, potential mining scenarios and timing of production, business trends and future operating factors and anticipated supply and deficits, are forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. In addition, technical results constitute forward-looking statements to the extent that they represent, respectively, estimates of mineralization that may be encountered upon additional exploration and estimates of the capital and operating expenses, metals and currency prices and other operating conditions that may be encountered in the future.
Forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, among others: metals price volatility; demand and supply; additional fundraising requirements; defective title to mineral claims or property; discrepancies between actual and estimated reserves and resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; changes in national and local government legislation (including environmental legislation), taxation, controls, regulations and political or economic developments in Canada, or other countries in which the Company does or may carry out business in the future; success of exploration activities and permitting time lines; the speculative nature of mineral exploration, development and mining, including the risks of obtaining necessary licenses and permits; dilution; competition; currency fluctuations; and loss of key employees. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, mine collapses, cave-ins or flooding (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks).
The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.
Notice to US investors:
This presentation uses the terms “inferred mineral resources.” We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the SEC does not recognize them. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estimates of “inferred mineral resources” may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute “reserves” as in-place tonnage and grade without reference to unit measures. The terms “contained gold ounces” and “contained silver ounces” used in this press release are not permitted under the rules of the SEC. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally mineable.
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WKM Regional Exploration
Large land packages in two of North America’s most prolific gold-producing regions
Proven management team and veteran geologists with a discovery track record working their respective trends
Building value
• Defined gold resource
• Partnered with Newmont
• First gold deposit surrounded by 1000 square kilometers of exploration ground
• WKM land position is located adjacent to Newmont’s Long Canyon properties
• Newmont is actively drilling on exploration targets within Long Canyon Trend 3
Why West Kirkland Mining?
Share Structure (As of Nov 26, 2012)
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ISSUED & OUTSTANDING:
Common Shares: 37,893,336
Institutions (estimate) 50% 18,900,000
(Newmont 9.9%)
Management (escrowed: 918,000) 18% 6,666,075
Public float (estimate) 32% 12,200,000
WARRANTS & OPTIONS:
Warrants: ($0.60 to Jan. 20, 2014) 2,414,301
Stock Options: ($0.20 to $1.10) 1,595,000
FULLY DILUTED: 41,902,637
R. Michael Jones, B.A.SC., P.Eng Director, President & CEO
President, Director and CEO of Platinum Group Metals. Co-founder of West Timmins Mining – purchased by Lake Shore Gold Corp. in 2009. Co-founder of MAG Silver Corp. Founder of Glimmer Resources. Founder of companies that have discovered four mines, including two gold mines in the Kirkland Lake – Timmins area.
Frank Hallam, B.B.A., C.A. Director, CFO & Corporate Secretary
Founder of New Millennium Metals Corp. - amalgamated with Platinum Group Metals Ltd., where he currently serves as a director and CFO. Co-founder and director of MAG Silver Corp. Director of Lake Shore Gold Corp.
Pierre Lebel, Director Chairman of Imperial Metals Corporation since 2003, prior President from 1986-2003. Extensive experience in managing public companies serving as a director of a number of public companies during his career.
Eric Carlson, Director
Over 17 years of real estate investment, development, and management experience. President and Chief Executive Officer of Anthem Properties Corp. since July 1994.
John S. Brock, Director
Over 40 years of service in an executive role with 20 public junior companies. Through these companies under his management he has participated in 12 major mineral deposit discoveries worldwide.
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Corporate Management – Board of Directors
Technical Management – Local Gold Discovery Track Record WKM’s management has discovery track record of several large-scale gold mines in the districts where we are currently exploring. Our exploration managers are established and live in the gold districts where we operate
R. Michael Jones, B.A.SC., P.Eng Director, President & CEO
Michael G. Allen, P. Geo. VP Exploration
A broad range of experience from grass roots exploration to underground development and mine construction management in multiple deposit types and jurisdictions. Work history includes DeBeers Canada, Rubicon Minerals, and Taseko Mines.
Rich Histed, B.A. Geo. Manager, USA
30 years experience in exploration of precious metals and other commodities with Homestake Mining, Barrick Exploration USA, Golden Star Resources, North Mining and Reunion Gold. Nevada experience includes resource definition at Archimedes and belt-scale exploration for Barrick.
Ken Kryklywy, P. Eng. Manager, Ontario and Quebec
Over 25 years working in Kirkland Lake and Timmins mining camps from grass roots exploration to mine production. Previous 4 years with Northgate Minerals during prefeasibility stage for the Young-Davidson project adjoining WKM. 17 years with Barrick including adding to reserves at the Holt McDermott mine. Other work with Newmont at Holloway mine and with Kerr Addison.
Sandy McVey, P. Eng. PMP, MSc Manager, Projects
30 years experience in mine management of underground and surface mines and project management of mine and heavy civil construction in Canada, USA, and Africa. Recent experience includes planning and building Shafter Silver Mine, TX.
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USA Operations
Nevada
Inset Map
Nev
ad
a
Uta
h
Significant Land Position in Proven Gold Belts Nevada - 1,200 km2
Newmont Earn-in (Fronteer Gold, 11 Properties) – 234 km2
December 16, 2010
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WKM can earn up to 51% in all 11 properties by spending $15,400,000 over four years
$2,000,000 in year one, $3,000,000 in year two (completed)
After year two, WKM can allow projects to drop off and continue payment on project-specific basis
WKM can increase interest to 60% with aggregate spend on any property (including TUG) of $4,000,000 or a Prefeasibility on specific projects
TUG as of June 2012: $3,300,000 spent ($1,800,000 for 51%), additional $700,000
for WKM to earn 60%
Rubicon Earn-in - 952 km2
June 27, 2011
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Significant Land Position in Proven Gold Belts
WKM can earn up to 51% in portion of property across the valley north east of the Long Canyon Deposit by spending $15,000,000 in 4 years
WKM has completed the first year’s expenditure, Phase 1 drilling completed
WKM can increase earn up to 60% interest in “Class A” properties with additional $4,000,000 or a Prefeasibility
Annual Period
Annual Minimum of Exploration and Development Expenses
Aggregate Exploration and Development Expenses
1st year $2,000,000 $2,000,000
2nd year $3,000,000 $5,000,000
3rd year $5,000,000 $10,000,000
4th year $5,000,000 $15,000,000
Nevada – Long Canyon
Long Canyon
Gold Deposit
Toano
Lewis Spring
Bandito
TUG
KB
Uta
h
20 Km
10 Mi
Newmont Mineral Interests
60% WKM
40% Rubicon
60% WKM
40% Newmont, Others
51% WKM
25% Newmont
24% Rubicon
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60% WKM, 40% RMX
51% WKM, 25% NMC, 24% RMX
60% WKM, 40% NMC, Others
Newmont Mineral Interests 10
Newmont
Exploration
Drilling
12 Mile
TUG Completed Results
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Optioned TUG December 2010 from Fronteer
Spring 2012 commenced historic database compilation
2012 completed confirmation and resource expansion drilling
May 29, 2012 NI43-101 compliant resource estimate
Identified a shallow oxidized Carlin style deposit with potential for excellent return on investment
Completed first earn-in (51%) on TUG project from Newmont
Acquired a third party interest in TUG property and brought it into the project
TUG –Completed Milestones
TUG Resource (Caracle Creek International Consulting, May 29, 2012)
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1 Reported at a cut-off grade of 0.1 g/t Au. Mineral resources are not mineral reserves and do not have demonstrated economic viability. 2AuEq was calculated assuming 100% metal recovery using a metal price ratio between Ag and Au (Ag:Au)= 0.018 (AuEq= Au+(Ag*0.018) Resource estimate completed by Jason Baker, P. Eng of Carcle Creek, an independent qualified person as defined by NI 43-101 Resources do not have demonstrated economic viability See detailed NI 43-101 report to be filed on SEDAR
Area Category Quantity
(tonnes)1
Grade Au
g/t
Grade
Ag g/t
Grade
AuEq2
Ounces
Au
Ounces
Ag
Ounces
AuEq2
TUG Inferred 27,110,000 0.49 15.8 0.78 431,400 13,844,800 679,000
Approximately 44% of the resource ounces in
34% of the tonnes within 40 meters of surface
TUG Resource Grade Sensitivity
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These figures are not to be misconstrued as mineral resource as they are intended for the sole purpose of demonstrating the sensitivity of the resource estimate with respect to reporting cut-off grade. *Base case reported at a cut-off of 0.1 g/t Au
Cut-Off Tonnes Au g/t Ag g/t AuEq g/t Au Ounces Ag Ounces AuEq
Ounces
*0.1 27,110,000 0.49 15.8 0.78 431,400 13,844,800 679,000
0.2 22,430,000 0.57 18.0 0.89 408,100 13,019,600 642,000
0.3 16,690,000 0.67 21.9 1.07 362,200 11,726,000 573,300
0.4 11,960,000 0.80 25.8 1.27 309,400 9,921,300 487,900
0.5 9,090,000 0.92 28.8 1.43 267,900 8,408,300 419,200
0.6 7,350,000 1.00 31.0 1.56 237,400 7,331,300 369,400
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TUG Mineralization TUG Mineralization
15 Source: Company records, rounded figures, includes inferred Au to Ag ratio of 1:55
Open pit, heap leach grade and strip comparison
(g/t) (x:1)
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TUG Advantages
Projected low strip ratio
Historic metallurgical: 60% for Au, 40% Ag with a 3/8” crush
Highest recoveries from pulverized samples by bottle roll, 89.6% of gold, 66.4 % of silver
Existing database of historic engineering work
State administered permitting
Easily accessible, excellent infrastructure
Shallow open pit oxide gold resources are getting rarer to find!
TUG –The Next Steps
In-pit NI 43-101 Mineral Resource Estimate by Q1 2013
Preliminary Economic Assessment by Q1 2013
Metallurgical sampling by Q2 2013
Construction permits by Q2 2013
Operating permits by Q2 2014
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No
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Jan
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Mar
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May
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Jun
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g-1
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Sep
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Jan
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May
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ENGINEERING & PLANNING
Drilling (Resource, Met, Geotech)
Resource Upgrade (Pit Constrained)
Metallurgical Testing
Preliminary Economic Assessment
Process & Detailed Engineering
CONSTRUCTION PERMITTING
Cultural Survey
Approval Order (Air)
Small Mine Operation Permit (10 acres)
Construction Permits, various
OPERATION PERMITTING
Large Mine Operation Permit
Ground Water Discharge Permit
Title V Operating Permit (Air)
CONSTRUCTION
Construction Phase (10 acres)
Construction Phase (full site)
Commissioning
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TUG Timeline of Activities
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TUG Conceptual Surface Layout
Nevada Regional Targets: 12 Mile
Near and Like TUG Start Point
Located 10 km west of TUG
Possible additional feed to TUG operation
Action
Drilled 7 holes in 2012
TUG equivalent grades encountered at shallow depths
Only southern eastern corner of property explored to date
Additional targets along strike
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Long Canyon
Gold Deposit
12 Mile TUG
Uta
h
21
5 Kms
12 Mile Geology
Area Enlarged
TUG
12 Mile TUG Deposit
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5 Kms
Area Enlarged
TUG
12 Mile TUG Deposit
12M12-004 6.1 meters
@ 0.72 g/t Au, 2.19 g/t Ag
From 12.19m
1.02 g/t Au
1.73 g/t Au
0.73 g/t Au
12 Mile Geology
Mc
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Hole ID From (m) To (m) Length (m) Au g/t Ag g/t
12M12-001 67.06 77.72 10.66 0.34 1.03
and 88.39 96.01 7.62 0.23 0.67
and 99.06 108.2 9.14 0.31 0.75
12M12-002 0 12.19 12.19 0.31 0.75
and 123.44 128.02 4.58 0.19 0.24
and 131.06 135.64 4.58 0.21 0.06
12M12-003 0 22.86 22.86 0.35 1.12
including 10.67 15.24 4.57 0.52 1.14
12M12-004 7.62 25.91 18.29 0.44 1.67
including 12.19 18.29 6.1 0.72 2.19
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12 Mile Drill Results
Gold Mineralization in Long Canyon Trend
12 Mile Drill Pad 3 23
Long Canyon Deposit
#247340
0.606 g/t Au
1.42 g/t Ag
#247341
0.717 g/t Au
1.24 g/t Ag
#247342
0.526 g/t Au
1.11 g/t Ag
#247343
0.403 g/t Au
1.01 g/t Ag
Nevada - Toano
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Long Canyon
Gold Deposit
Toano
Uta
h
TUG
Detailed Geological
Mapping
60% WKM, 40% RMX
51% WKM, 25% NMC, 24% RMX
60% WKM, 40% NMC
Newmont Mineral Interests
±
Start Point
Identified favourable structures, and stratigraphy
WKM Work
3,460 soil samples
Reconnaissance mapping
Up to 3.6 g/t Au in rock
Results
Multiple Au in soil anomalies parallel to Long Canyon Trend with associated Ag, As, Sb up to 8 km long
Drilling completed to date: 2 holes, 1,000 meters
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Toano Nevada - Toano
2.2 g/t Au
3.6 g/t Au 1.4 g/t Au
1.5 g/t Au
Area Enlarged
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Idealized Cross Section of Mineralized NE Trending Structural Zone in Toano
District Scale Targets
High Au in
Stream Sediments
60% WKM, 40% RMX
51% WKM, 25% NMC, 24% RMX
60% WKM, 40% NMC, Others
Newmont Mineral Interests
TUG Deposit
Bandito Lewis Spring
TUG
KB
16 Km to Long Canyon Deposit
2 Miles
12 Mile N
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Toano
Patterson
Pass
Upcoming Milestones
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2012
Complete in-pit Resource Estimate
Initiate economic studies on TUG
Initiate permitting process
Metallurgical review
2013
Drilling in Long Canyon Trend
Submit TUG Large Mine permit application
Kirkland Lake Operations
Kirkland Lake – 80 km2 Major gold bearing trend: Cadillac-Larder Lake Break
Cunningham - 10 km2
Drilling to date has intersected high grade structures, identified target for follow up drilling
100% interest, east of AuRico’s 3.8 M oz Au Young-Davidson project
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Macassa Mine
3.5 M oz Au
Kirkland Lake Gold Inc.
KC1163: 16.15 g/t Au
over 5.0m (85.7-90.7m)
Cunningham Property
KC1008: 19.79 g/t Au over 7.9m
KC1134: 6.12 g/t Au
over 1.0m (9.5-10.5m)
KM1125: 6.29 g/t Au
over 1.5m (62.5-64.0m)
Kirkland Lake Drilling Kirkland Lake
Young-Davidson Mine
3.8 M oz Au
Aurico Gold 30
Hole ID From
(m) To
(m) Length
(m) Au
(g/t)
KC1183 177.90 178.20 0.30 3.94
KC1184 25.00 28.50 3.50 2.24
KC1186 8.00 11.00 3.00 7.80
Incl. 8.00 9.00 1.00 20.10
KC1187 16.10 17.00 0.90 3.98
and 21.80 39.60 17.80 1.25
KC1194 33.20 35.20 2.00 3.69
and 74.00 75.50 1.50 3.73
KC1195 120.00 121.10 1.10 2.12
KC1163 85.70 90.70 5.00 16.15
Incl. 85.70 87.90 2.20 34.49
KC1164 92.00 93.90 1.10 6.42
Cunningham Drill Results
WKM controls a near surface significant gold resource in a mining friendly jurisdiction
Significant historical work to build off
Short permitting timelines in Utah
Potential synergies with additional discoveries in Long Canyon Trend
In Canada, West Kirkland controls a significant land position along the Cadillac Lake Larder Lake Break
Built in valuation: WKM fast-tracking the TUG deposit and continues to explore its enormous land packages in USA and Canada
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WKM – Summary
For More Information
R. Michael Jones Michael G. Allen
President & CEO VP, Exploration
Office: 604 685-8311 Office: 604 628-4709
rmjones@wkmining.com mallen@wkmining.com
Knox Henderson
Investor Relations
Office: 604 628-4717
khenderson@wkmining.com
Updated: 11/27/12 32