+ All Categories
Home > Documents > For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX:...

For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX:...

Date post: 24-Sep-2020
Category:
Upload: others
View: 2 times
Download: 0 times
Share this document with a friend
29
Emerging Canadian Gold Producer AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM For personal use only
Transcript
Page 1: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

Emerging Canadian Gold Producer AGM Presentation - November 2012

| ASX: CVY | COVENTRYRES.COM

For

per

sona

l use

onl

y

Page 2: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Corporate Highlights

Coventry Resources is focused on taking the Cameron Gold Project into production by early 2015

Near-term gold producer in Ontario, one of the top mining friendly jurisdictions in the world

PEA study to be completed by year end 2012 on the 1.4 million oz. Cameron Gold Deposit

Potential to develop a “mine camp” to include many other prospects within the Cameron Project area

Very prospective exploration potential at the Rainy River Project and the Cameron Gold Camp

Drilling program to commence at Rainy River Project in Q1 2013

New listing on TSX-V in Q4 2012 will introduce Coventry to North American markets

M&A very prevalent with Ontario mining projects. Recent bids at significant premiums for Trelawney and Prodigy, 27% and 55% respectively, confirms advantages of working in Ontario

2 F

or p

erso

nal u

se o

nly

Page 3: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Corporate Details

Fast Facts ASX:CVY Nov. 2012 Ordinary Shares 240.2M

Market Capitalisation ~ $26M

Cash Position ~ $1.5M

EV/Resource ~ $16/oz

Share Price Performance .

(January 2012- November 2012)

Top Shareholders .

Sun Valley 12.65%

Macquarie Bank 10.49%

Directors/Management 4.83%

Top 20 55.89%

3 F

or p

erso

nal u

se o

nly

Page 4: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| 2012 Highlights 4

Preliminary Economic Assessment (“PEA”) on Cameron Gold Project nearing completion

Key new management appointments

Initiation of research/coverage

Argonaut – Speculative Buy - $0.25

TSX-V listing nearing completion with strong support from Haywood Securities Inc.

Stabilisation of share price

Acquisition of JORC-Code Resources near Cameron Gold Project

Delineation of significant gold anomalies at Rainy River Project

Additional anomalies identified along strike at the Cameron Gold Project

For

per

sona

l use

onl

y

Page 5: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Management

Michael Naylor: CEO, Director: Mr. Naylor has over 16 years experience in feasibility studies, project finance, development and risk management of gold projects.

Tony Goddard: VP Exploration, Director: Mr. Goddard has

more than 18 years exploration experience worldwide, primarily for gold and copper, with companies such as BHP Billiton, Rio Tinto, Phelps Dodge and Barrick Gold.

Steven Chadwick: VP Development, Director: Mr. Chadwick has over 35 years’ experience in the mining industry, incorporating technical, operating and management roles, as well as a strong metallurgical background. Mr. Chadwick has been a director and consulted to Teck Resources Australian subsidiary company for the past 10 years.

5 F

or p

erso

nal u

se o

nly

Page 6: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Management/Directors

Don Halliday: VP Investor Relations, Director: Mr. Halliday has over 24 years experience in investor relations, corporate development and fund raising for junior resource companies.

Mike Haynes: Non-Executive Director: Mr. Haynes is a qualified geologist/geophysicist with more than 19 years experience in the mining industry, including BHP and Billiton.

Eric Edwards: Non-Executive Director: Since 1996, Mr. Edwards has served as Chief Executive or Chief Financial Officer for a number of publicly traded gold companies. Mr. Edwards has had over 25 years experience in the gold mining sector in operations, business development and corporate finance.

6 F

or p

erso

nal u

se o

nly

Page 7: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| TSX-V Listing - Why 7

Merger expected to significantly enhance the Company’s profile in the North American investment community, where its projects are located.

Approximately 20% of the Company’s share register is held by North American Institutions.

Canadian investor and research community is familiar with the potential, development and valuations of Canadian mining projects, often reflecting higher valuations.

Enhanced board of directors and management team will be well suited to advancing Cameron towards production.

Direct exposure to TSX-V, which is renowned for its trading liquidity and access to equity finance in the mining industry.

The merged entity will have access to North American capital, including “flow through” financing.

The transaction is supported by Haywood Securities Inc. which has an extensive network of retail and institutional investors in North America and globally.

For

per

sona

l use

onl

y

Page 8: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| TSX Companies - Attractive Valuations

EV/Resource - Ontario Junior Gold Exploration and Development Companies

Market Enterprise Total Attributable Resource EV Per AU/oz

Company Cap Value Key Asset Stage M&I MI&I M&I MI&I

(C$M) (C$M) (oz AU) (oz AU) (C$/oz) (C$/oz

Rubicon Minerals $1,018 $823 Phoenix (100%) Optimized PEA Q4/12 0.5 2.8 $1,725.28 $294.54

Premier Gold $842 $775 Trans Canada (100%) PEA Due Q4/12 2.9 4.7 $270.05 $163.30

Harte Gold Corp $35 $33 Sugar Zone (100%) PEA Completed Q2/12 0.3 0.5 $102.02 $68.54

Queenston Mining $338 $228 Upper Beaver (100%) Opitmized PEA Q1/13 2.2 4.1 $105.06 $55.42

Rainy River $498 $418 Rainy River (100%) BFS Due Q2/13 6.2 8.5 $67.35 $49.12

Northern Gold Mining $94 $72 Garrison (80%) PEA Completed 1.1 1.6 $66.71 $44.47

Prodigy Gold $302 $252 Magino (100%) PFS Q2/13 6.3 6.6 $40.25 $38.09

Gold Canyon Resources $175 $134 Springpole (100%) PEA Due Q1/13 4.4 5.1 $37.28 $32.24

Treasury Metals $52 $49 Goliath (100%) PEA Completed Q3/13 0.8 1.6 $64.86 $30.24

Probe Mines Ltd $109 $82 Borden Lake (100%) PEA Due Q4/12 2.8 3.8 $29.85 $21.81

Lexam VG Gold Inc $39 $34 Buffalo (100%) Ad. Exploration 1.0 1.9 $33.16 $18.01

Temex Resources $45 $37 Judy/Hallnor (100%) Ad. Exploration 1.7 2.9 $21.42 $12.86

Moneta Porcupine Mines $39 $36 Golden Highway (100%) Ad. Exploration 1.1 4.3 $33.37 $8.48

Average (EXC. High/Low) $230 $195 2.2 3.6 $77.27 $48.55

Coventry Resources (Post RTO) $37 $35 Cameron Lake (100%) PEA Due Q4/13 0.6 1.5 $55.35 $23.85

Source: Haywood Securities, Company Reports, October 2012

8 F

or p

erso

nal u

se o

nly

Page 9: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| TSX-V Listing – Transaction Structure 9

Dual ASX/TSX-V listing to be achieved by way of merger with TSX-V listed Crescent Resources Corp.

The merger is being implemented by means of a court sanctioned scheme of arrangement

Crescent will undertake a 1:5 consolidation of its common shares prior to completion of the merger

Crescent will then offer to acquire all of Coventry’s shares on the basis of 0.2513 “post consolidation” shares

Based on a Coventry share price of $0.11, the merged entity should have an equivalent share price of approximately $0.45

Approximately 69.1m shares will be on issue resulting in a market capitalisation of approximately $31.0m

Coventry shareholders will have the option to hold their shares on the TSX-V or ASX (CDI’s)

Coventry will maintain its commitment to trade on ASX as there is strong support from its Australian register

For

per

sona

l use

onl

y

Page 10: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| TSX-V Listing – CDI’s 10

The electronic transfer system used on ASX, known as CHESS, cannot be used directly for the transfer of securities of foreign companies

To enable foreign companies to have their securities cleared and settled electronically through CHESS, chess depositary interests (CDI’s) are issued

CDI holders receive all the benefits of actual ownership of the underlying shares including:

Voting rights

Priority issues such as Rights Issues

Dividends, if any

Computershare (Company’s Share Registry) offers a cross border service designed to accelerate the transfer of securities between the ASX and TSX-V

For

per

sona

l use

onl

y

Page 11: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| TSX-V Listing – Important Dates and Timetable 11

Events Date Latest time and date for lodgement of completed proxy forms for the: 11 December 2012

Share Scheme Meeting 10.00 am Option Scheme Meeting 10.30 am

Time and date for determining eligibility for voting at the Scheme Meetings 4.00 pm on 11 December 2012

Scheme Meetings to be held at Holiday Inn, 778-788 Hay Street, Perth, WA 13 December 2012

Share Scheme Meeting 10.00 am (WST) Option Scheme Meeting 10.30 am (WST) (or, if later, immediately after

the Share Scheme Meeting) If the Schemes are approved by the Requisite Majorities, the expected timetable for implementation of the Schemes is: Second Court Date for approval of the Scheme(s) 14 December 2012 Effective Date of the Scheme(s) and last day of trading of CVY Shares on the ASX

14 December 2012

Suspension of trading of CVY Shares on the ASX 14 December 2012 Crescent CDIs to begin trading on the ASX on a deferred settlement basis 17 December 2012

Deadline for receipt of CVY Option exercise notices from those CVY Optionholders who wish to exercise their options

12.00 noon 18 December 2012

Deadline for receipt of Share Election Forms by the CVY Share Registry 2.00 pm (WST) on 18 December 2012

Record Date for determining entitlements to the Scheme Consideration 4.00 pm on 21 December 2012

Implementation Date for the transfer of CVY Shares and Coventry Options to Crescent and issue of Scheme Consideration

2 January 2013

Despatch of holding statements for Crescent CDIs and certificates7 for Crescent Consideration Shares

3 January 2013

Crescent Consideration Shares issued to Scheme Shareholders commence trading on TSX-V

4 January 2013

Termination of official quotation of CVY on the ASX 4 January 2013 Crescent CDIs begin trading on the ASX on a normal settlement basis 4 January 2013

For

per

sona

l use

onl

y

Page 12: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|The Projects

Cameron Gold Camp, Ontario, Canada

JORC-Code resources at the Cameron Gold Deposit of:

1.4 million ounces of gold at 2.24 g/t gold

Shallow JORC-Code resources at the Dubenski Gold Deposit of:

64,000 ounces of gold at 3.50 g/t gold

Preliminary Economic Study (“PEA”) due in Q4 2012

Simple metallurgy

Excellent infrastructure

Considerable upside to develop a “mine camp” on the dozens of other prospects within the combined 170.3km2 project area

12 F

or p

erso

nal u

se o

nly

Page 13: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|The Projects

Rainy River Project, Ontario, Canada

132.7km2 project adjacent to the 8.5M oz Rainy River Gold Deposit in NW Ontario

Rainy River Resources announced new discovery on Oct. 22, 2012 1km east of the deposit:

18.0m @ 4.3 g/t gold and 33.3 g/t silver

18.5m @ 2.2 g/t gold and 38.5 g/t silver

Coventry’s ground covers the extensions of the same geological sequence that hosts Rainy River, part of a large, essentially unexplored Archean belt

Numerous anomalies identified for drilling in Q1 2013

13 F

or p

erso

nal u

se o

nly

Page 14: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Cameron Gold Project - Location and Access

90km SE of Kenora (population ~15,000)

Access by a purpose built all-weather gravel road, 23km from a sealed highway

High voltage power within 30km

Numerous services and supplies within a short distance

Numerous +1Moz deposits and mines

3,000oz’s gold in ore stockpile

Waste dump

Offices and accommodation

Workshops Mine portal

Aerial view of the Cameron Gold Deposit and surface infrastructure

14

115kV high voltage power line within 30km of Cameron

For

per

sona

l use

onl

y

Page 15: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Cameron Gold Project – The Opportunity

Resource of 19.4Mt @ 2.24 g/t gold for 1,397,200 ounces

Lycopodium Engineering and AMC (from Perth and Toronto) undertaking PEA

PEA to be completed Q4, 2012 to examine developing an initial open pit mining operation

To be followed by underground mining

Opportunity to develop satellite deposits to feed a centralised processing facility

15 F

or p

erso

nal u

se o

nly

Page 16: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|Cameron Gold Project – Shallow Resources

Resources within 200 metres of surface Resources within 250 metres of surface Cut-off grade

(g/t gold) Tonnes (Mt) Grade

(g/t gold) Ounces of

gold

% Measured +

Indicated Tonnes (Mt) Grade

(g/t gold) Ounces of

gold

% Measured +

Indicated

0.5 7.44 1.89 452,893 97% 9.49 1.97 602,250 89%

1.0 5.14 2.42 399,607 97% 6.59 2.52 533,690 89%

Re-sampled and assayed ~10% of previous ~85,000 metres of diamond drill core

Completed 29,170 metres of diamond drilling at Cameron Gold Deposit

High confidence in grade and distribution of shallow mineralisation, with >97% of resources within 200 metres of surface classified as “Measured” and “Indicated”

Robust resource base, with few ounces “lost” when applying a 1.0g/t vs 0.5 g/t cut off

16 F

or p

erso

nal u

se o

nly

Page 17: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Cameron Gold Project - Metallurgy

Considerable metallurgical test work undertaken 1985 – 1989.

Metallurgical test work program completed in July 2012 from a representative sample sourced from conceptual open pit and underground.

Gold recoveries of circa 91-93% from cyanide leach tests.

Highly amenable to conventional crush, grind and CIL route.

Communition testing indicates low to moderate work indices prevail.

Bond mill index of 12.4 kWh/t Rod mill bond index averaged 15.5

kWh/t Abrasion indices averaged 0.328.

17

Drill core from the Cameron Gold Project

For

per

sona

l use

onl

y

Page 18: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Cameron Gold Project – Pipeline to production

2012 2013 2014 2015

ACTIVITY Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Exploration - Cameron

Exploration – Rainy River

Resource Upgrade

Environmental Baseline

Preliminary Economic Assessment

Definitive Feasibility Study

ESIA/Mine Permitting/Financing

Construction

Production

Projected Production

18 F

or p

erso

nal u

se o

nly

Page 19: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| West Cedartree Property – Further Growth 19 F

or p

erso

nal u

se o

nly

Page 20: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|West Cedartree Property – Further Growth

Dubenski Gold Deposit

JORC-Code compliant Indicated and Inferred Resource of 573,000 tonnes at 3.50 g/t gold for 64,000 ounces of gold

New resource calculation underway

Dogpaw Gold Prospect

Representative historical intercepts of:

6.0m @ 47.97 g/t gold from 48.2m 2.6m @ 46.54 g/t gold from 51.7m 4.6m @ 10.51 g/t gold from 49.9m

Resource calculation underway

20 F

or p

erso

nal u

se o

nly

Page 21: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|West Cedartree Properties – Further Growth

McLennan Gold Prospect

Mineralised zone greater than 300m in length

Significant results from trench samples

Historical intercepts under TR1-TR3 include:

5.8m @ 5.80 g/t gold from 24.0m

9.0m @ 4.04 g/t gold from 26.0m

16.5m @ 1.67 g/t gold from 44.0m

2.2m @ 5.25 g/t gold from 66.9m

Follow-up drilling to commence in Q1 2013.

21 F

or p

erso

nal u

se o

nly

Page 22: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|Rainy River Project - Exploration Upside

Secured mineral rights covering 132.7km² adjacent to 8.5Moz Rainy River Gold Deposit in NW Ontario

Coventry is the second largest landholder in the District

Rainy River Gold Deposit discovered in 1994 by follow-up of anomalies delineated in a 1987-88 regional till geochemistry survey

Rainy River is a gold-rich type deposit related to the VMS family

VMS deposits commonly occur in clusters sometimes over hundreds of kilometres of strike

22 F

or p

erso

nal u

se o

nly

Page 23: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|Rainy River Project – Exploration Technique 23 F

or p

erso

nal u

se o

nly

Page 24: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|Rainy River Project – Exploration Upside

Hole 77 returned BOH till sample of highly anomolous Nickel, Copper and Chrome.

10 other high priority anomalies to be followed up in the winter drilling program

Anticipated 6,000m drilling program to commence in Q1 2013

24 F

or p

erso

nal u

se o

nly

Page 25: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Value Drivers

Moving Cameron Gold Project to production to capitalise on high gold prices

Results of PEA to be released in December 2012

Well balanced pipeline of highly prospective projects in NW Ontario, Canada

Exploration to continue at Cameron, West Cedartree and Rainy River projects

Considerable news flow with drilling programs, economic study, final feasibility study and mine permitting activity ongoing

TSX-V listing to raise the Company’s profile in North America is scheduled for year end 2012

Ongoing M and A activity with gold companies in Ontario. Prodigy Minerals recently acquired at premium of 55% premium or valuation of $65-70 on an EV/oz gold basis. Trelawney Res. acquired at 27% premium in June 2012 and Brett Res. acquired at 53% premium in March 2010

ASX:CVY, www.coventryres.com

25 F

or p

erso

nal u

se o

nly

Page 26: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|Competent Persons Statement

The information in this report that relates to Mineral Resources or Ore Reserves is based on information compiled by Mr Peter Ball who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Ball is the Director of Data Geo Geological Consultants. Mr Ball has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ and a Qualified Person as defined in the Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr Ball consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to exploration results is based on information

compiled by or under the supervision of Anthony Brendon Goddard. Mr Goddard is Technical Director of Coventry Resources Limited and a Member of the Australian Institute of Geoscientists. Mr Goddard has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and a Qualified Person as defined in the Canadian National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr Goddard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

26 F

or p

erso

nal u

se o

nly

Page 27: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|Appendix 1 – Cameron Gold Deposit/JORC Resource

Cut-off grade (g/t gold) Category Tonnes Grade

(g/t gold) Ounces of gold

0.5 Measured 3,230,000 2.23 232,000 Indicated 6,922,000 1.82 405,000 Inferred 17,847,000 1.68 962,000

Total 27,999,000 1.78 1,599,000

1.0 Measured 2,472,000 2.68 213,400 Indicated 4,724,000 2.33 353,700 Inferred 12,226,000 2.11 830,100

Total 19,422,000 2.24 1,397,200

1.5 Measured 1,793,000 3.23 186,000 Indicated 3,084,000 2.91 289,000 Inferred 7,853,000 2.60 658,000

Total 12,730,000 2.77 1,133,000

2.0 Measured 1,288,000 3.81 158,000 Indicated 2,068,000 3.49 232,000 Inferred 4,867,000 3.14 491,000

Total 8,223,000 3.33 882,000

27 F

or p

erso

nal u

se o

nly

Page 28: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

| Appendix 2 - Cameron Gold Deposit/Shallow Resources

Resources within 200 metres of surface

Resources within 250 metres of surface

Resources within 300 metres of surface

Cut-off grade (g/t

gold) Category Tonnes

Grade (g/t

gold)

Ounces of gold Tonnes

Grade (g/t

gold)

Ounces of gold Tonnes

Grade (g/t

gold)

Ounces of gold

0.5 Measured 2,246,000 2.25 162,600 2,888,000 2.28 211,800 3,145,000 2.25 227,700

Indicated 5,007,000 1.72 277,500 5,680,000 1.78 324,800 6,351,000 1.81 370,500

Inferred 187,000 2.13 12,800 922,000 2.21 65,700 2,125,000 2.02 137,800

Total 7,440,000 1.89 452,900 9,491,000 1.97 602,200 11,621,000 1.97 736,000

1.0 Measured 1,698,000 2.74 149,400 2,203,000 2.75 195,100 2,406,000 2.71 209,800

Indicated 3,311,000 2.25 239,100 3,784,000 2.31 280,500 4,279,000 2.34 321,900

Inferred 125,000 2.75 11,100 601,000 3.00 58,000 1,427,000 2.65 121,500

Total 5,135,000 2.42 399,600 6,589,000 2.52 533,700 8,112,000 2.50 653,100

1.5 Measured 1,243,000 3.28 131,200 1,619,000 3.30 171,800 1,762,000 3.25 184,000

Indicated 2,074,000 2.85 190,300 2,404,000 2.93 226,100 2,773,000 2.94 262,400

Inferred 117,000 2.85 10,800 402,000 3.88 50,300 822,000 3.69 97,400

Total 3,434,000 3.01 332,300 4,425,000 3.15 448,100 5,356,000 3.16 543,800

28 F

or p

erso

nal u

se o

nly

Page 29: For personal use only - Australian Securities Exchange · AGM Presentation - November 2012 | ASX: CVY | COVENTRYRES.COM ... Probe Mines Ltd : $109 $82 Borden Lake (100%) PEA Due Q4/12

|Appendix 3 - Dubenski Gold Deposit/JORC Resource

Resource Classification Tonnes Gold Grade (g/t Au) Gold Ounces

Indicated 551,000 3.53 62,700

Inferred 22,000 2.57 1,800

Total 573,000 3.50 64,500

29 F

or p

erso

nal u

se o

nly


Recommended