KEITH YATES – Adelaide Resources Limited

KEITH YATES – Adelaide Resources LimitedKEITH YATES – Adelaide Resources Limited

Adelaide Resources LimitedAdelaide Resources Limited

The Company . . .The Company . . .

• Listed in 1996

• ASX Code: ADN

• 57.3 million shares issued

• Unlisted options - 2.43 million

• Cash - $2.3 million

• 1100 shareholders

• 12 month trading - 10 to 26 cents

• Market capitalisation - $12 million (21 cents)

• Listed in 1996

• ASX Code: ADN

• 57.3 million shares issued

• Unlisted options - 2.43 million

• Cash - $2.3 million

• 1100 shareholders

• 12 month trading - 10 to 26 cents

• Market capitalisation - $12 million (21 cents)

JohnHoranJohnHoran

Kevin WillsKevin Wills

Keith Yates(Executive Chairman)Keith Yates(Executive Chairman)

Directors . . .Directors . . .

ProminentHill

ProminentHill

Olympic DamOlympic Dam

MoontaMoonta

Olympic Copper-Gold ProvinceOlympic Copper-Gold Province

SOUTHAUSTRALIA

SOUTHAUSTRALIA

South AustraliaGAWLERCRATON

300 KM300 KM

Adelaide


Proterozoic Gold Arc

ChallengerChallenger

TarcoolaTarcoola

TunkilliaTunkillia

BarnsBarns

SOUTHAUSTRALIAN

PROJECTS

SOUTHAUSTRALIAN

PROJECTS


300 KM300 KM

ProminentHill

Olympic Dam

Adelaide



BARTON(Nickel)

BARTON(Nickel)

THE TWINS (Copper-Gold)THE TWINS (Copper-Gold)

MOONTA - WALLAROO(Copper-Gold)


EYRE PENINSULA(Gold)


ANABAMA(Copper)

ANABAMA(Copper)

WARRAMBOO (Iron)WARRAMBOO (Iron)



• To demonstrate that a very poorly explored region with no mining history in an unfashionable province was prospective for gold

• To convince investors of the Gawler Craton’s gold potential and of the project’s merit

• To develop cost effective reconnaissance techniques to explore very large areas typically masked by extensive shallow cover and geochemically depleted regolith

• To demonstrate that a very poorly explored region with no mining history in an unfashionable province was prospective for gold

• To convince investors of the Gawler Craton’s gold potential and of the project’s merit

• To develop cost effective reconnaissance techniques to explore very large areas typically masked by extensive shallow cover and geochemically depleted regolith

EYRE PENINSULA PROJECTEYRE PENINSULA PROJECT

THE CHALLENGE IN 1996THE CHALLENGE IN 1996

CENTRAL GAWLER CRATONProterozoic Gold ArcCENTRAL GAWLER CRATONProterozoic Gold Arc

Australia’s new goldfrontier

Australia’s new goldfrontier

Stuart Shelf

Gawler RangeVolcanics

Hiltaba SuiteGranites

TarcoolaTarcoola

TunkilliaTunkillia

Nuckulla Hill Nuckulla Hill

BarnsBarnsWeednannaWeednanna

Proterozoicgoldmineralisation


THE GOLD ARCTHE GOLD ARC

• Emerging regional gold province ~500km long

• Very little outcrop - sand cover and deep weathering

• Recognition of significance required calcrete geochemistry commencing 1995

• Calcrete is highly effective and cost efficient

• Large mineralising systems evident in geology

• Emerging regional gold province ~500km long

• Very little outcrop - sand cover and deep weathering

• Recognition of significance required calcrete geochemistry commencing 1995

• Calcrete is highly effective and cost efficient

• Large mineralising systems evident in geology



PROTEROZOIC GOLD ARCPROTEROZOIC GOLD ARC

• << 1% outcrop

• Lack of drainage

• Geochemical depletion in upper regolith

• << 1% outcrop

• Lack of drainage

• Geochemical depletion in upper regolith

Q1: Why wasn’t it identified by early prospectors?

A1: The early prospectors missed it because:

Q1: Why wasn’t it identified by early prospectors?

A1: The early prospectors missed it because:


PROTEROZOIC GOLD ARCPROTEROZOIC GOLD ARC

• Lack of effective reconnaissance gold exploration technique until calcrete geochemistry (1993)

• Excepting Tarcoola-Glenloth, 20th century gold exploration didn’t commence until 1995

• Many gold finds are very recent: - Tunkillia 1996, Nuckulla Hill 1996, Weednanna 1999, Barns 2000

• Gold exploration effort only 7 years old with negative market sentiment prevailing for half that time

• Lack of effective reconnaissance gold exploration technique until calcrete geochemistry (1993)

• Excepting Tarcoola-Glenloth, 20th century gold exploration didn’t commence until 1995

• Many gold finds are very recent: - Tunkillia 1996, Nuckulla Hill 1996, Weednanna 1999, Barns 2000

• Gold exploration effort only 7 years old with negative market sentiment prevailing for half that time

Q1: Why wasn’t it identified earlier by modern explorers?

A1: Modern explorers missed it because:

Q1: Why wasn’t it identified earlier by modern explorers?

A1: Modern explorers missed it because:

Calcrete sampling using hand auger

Nodular calcrete

Calcrete bearing soil profile

Calcrete horizon

CALCRETECALCRETE

19.0

14.012.0

12.0

11.0

7.8

7.2 6.7

5.6 5.15.1

4.6

4.0

4.03.8

3.4

3.3

3.2

3.0

2.9

2.9

2.8

2.7

2.4 2.4

2.4

2.3

2.3

2.2 2.2

2.2

2.1

2.1 2.1

2.1

2.0

1.91.8

1.8

1.7

1.6

1.6

1.6

1.6

1.6

1.5

1.5

1.4

1.4

1.4

1.4

1.4

1.3 1.3

1.3

1.3

1.2

1.2

1.2 1.2

1.2

1.1

1.1

1.1

1.1

1.0

1.0

1.0

1.0

1.0

1.0

0.9

0.9

0.9

0.9

0.9

0.9

0.9

0.9

0.9

0.8

0.8 0.8

0.8

0.8

0.7

0.7

0.3

0.3 0.2

0.1

10.0

200 Metres

2.4 Calcrete sample location andgold value in parts/billion 2.5 ppb gold 5 ppb gold 10 ppb gold

TYPICAL CALCRETE ANOMALYTYPICAL CALCRETE ANOMALY

Kyancutta

BarnsMinnipa

Yaninee

Wudinna

Kimba

Darke Peak

Lock

32º30'

33º30'

33º

136º 136º30’135º 135º30'

EL 2869

Eyre

Highway

EL 2752

EL3076

EL 2806

EL2669

EL 2844

Warramboo Iron Project(Excluded from Newmont Joint Venture)

30 Kilometres

EL 2846

EL2845

Eyre Peninsula Tenements

EL 3119

GOLD IN CALCRETEGOLD IN CALCRETE

THE NEWMONT - ADELAIDE DEALTHE NEWMONT - ADELAIDE DEAL

• 4.65% shareholding in Adelaide Resources

• $5 million over 5 years max. for 51%

• $1 million minimum per year

• Adelaide initial operator

• Adelaide may contribute at 49% or dilute to 30% free carried

• If required Newmont to assist with mine financing

• Sole risk arrangements

• 4.65% shareholding in Adelaide Resources

• $5 million over 5 years max. for 51%

• $1 million minimum per year

• Adelaide initial operator

• Adelaide may contribute at 49% or dilute to 30% free carried

• If required Newmont to assist with mine financing

• Sole risk arrangements

EYRE PENINSULA JOINT VENTUREEYRE PENINSULA JOINT VENTURE

EYRE PENINSULA TENEMENTS

EYRE PENINSULA TENEMENTS

WarrambooIron ProjectWarrambooIron Project

Barns Gold ProjectBarns Gold Project

Lock

EyreEyre

HighwayHighway

WudinnaWudinna

Kimba

30 KM30 KM

Newmont JV(6,701 sq km)

Newmont JV(6,701 sq km)

EYRE PENINSULA JOINT VENTUREwith Newmont Australia

EYRE PENINSULA JOINT VENTUREwith Newmont Australia

Update . . . Update . . .

• JV expenditure to end 2003 of $0.77 million

• District wide gold exploration effort implemented

• 391 RAB/Aircore holes (20,150m) completed at nine gold prospects

• 1440 surface calcrete samples collected on nine tenements

• Very promising gold targets emerging

• JV expenditure to end 2003 of $0.77 million

• District wide gold exploration effort implemented

• 391 RAB/Aircore holes (20,150m) completed at nine gold prospects

• 1440 surface calcrete samples collected on nine tenements

• Very promising gold targets emerging

2004 RC Drilling

2004 RC Drilling

10 KM

EYRE PENINSULA JV - A new gold districtEYRE PENINSULA JV - A new gold district

WUD6WUD6

KO3KO3

WUD2CentralWUD2Central

65 x 20km65 x 20km


AdvancedAdvanced

DefinedDefined

AnomalyAnomaly

WudinnaWudinna

6 3 6 50 0 0 m N

6 3 6 60 0 0 m N

6 3 6 40 0 0 m N

6 3 6 70 0 0 m N

6 3 6 80 0 0 m N

5 4 0 00 0 m E 5 4 1 00 0 m E 5 4 2 00 0 m E 5 4 3 00 0 m E

1 00 0 m etre s

2.5ppb gold incalcrete contour

Drill traverse

Bedrock anomalyzone

Western ZonesEastern Zone

Southern Zone

NorthernZone

White TankZone

5ppb gold incalcrete contour

Barns Gold Project

500 metres

Section 6365900mN

BARNS GOLD PROJECT

BARNS GOLD PROJECT

Mineralised zoneMineralised zone

16m @ 1.0 g/t16m @ 1.0 g/t

11m @ 2.84 g/t11m @ 2.84 g/t

36m @ 1.80 g/t36m @ 1.80 g/t11m @ 2.45 g/t11m @ 2.45 g/t

9m @ 1.17 g/t9m @ 1.17 g/t

2m @ 67.6 g/t2m @ 67.6 g/t

PrimaryPrimary

OxideOxide

DepletedDepleted

100 M100 M

BARNS GOLD PROJECTEastern Zone Section - 6365900mN

BARNS GOLD PROJECTEastern Zone Section - 6365900mN

146.7 @ 0.87 g/t146.7 @ 0.87 g/t88.6 @ 1.25 g/t88.6 @ 1.25 g/t

2003 RAB Drilling

2003 RAB Drilling

10 KM

EYRE PENINSULA JV - A new gold districtEYRE PENINSULA JV - A new gold district

WUD6WUD6

KO3KO3

WUD2CentralWUD2Central

65 x 20km65 x 20km


AdvancedAdvanced

DefinedDefined

AnomalyAnomaly

WudinnaWudinna

25ppb gold in bedrock25ppb gold in bedrock

100ppb gold in bedrock100ppb gold in bedrock

EYRE PENINSULA JOINT VENTURE

WUD6 - RAB Drilling

EYRE PENINSULA JOINT VENTURE

WUD6 - RAB Drilling

> 2.5ppb calcrete anomaly> 2.5ppb calcrete anomaly

500 M500 M

1/2.691/2.69

1/1.441/1.44

6/0.896/0.89

15/1.0415/1.04

RAB drillingRAB drilling

2.6km2.6km

217 RAB Holes9,058 metres> $300,000 spent

217 RAB Holes9,058 metres> $300,000 spent

SectionSection

Planned RC DrillholePlanned RC Drillhole

EYRE PENINSULA JOINT VENTUREWUD6 - 6362900mN

Red Rag Zone

EYRE PENINSULA JOINT VENTUREWUD6 - 6362900mN

Red Rag Zone

SaproliteSaprolite

BedrockBedrock

22/0.3822/0.382/1.782/1.78

50 to 100ppb Au50 to 100ppb Au

100 to 500ppb Au100 to 500ppb Au

>500ppb Au>500ppb Au

00

-50-50

-100-100

EYRE PENINSULA JOINT VENTURE2004 Budget - $1.3 million

EYRE PENINSULA JOINT VENTURE2004 Budget - $1.3 million

RAB Drilling $245KRAB Drilling $245K

RC Drilling$795K

RC Drilling$795K

Calcrete sampling $45KCalcrete sampling $45K

Tenement maintenance $60KTenement maintenance $60K

~80% on drilling related activities~80% on drilling related activities

Administration $155KAdministration $155K

SOUTHAUSTRALIAN

PROJECTS

SOUTHAUSTRALIAN

PROJECTS


300 KM300 KM

ProminentHill

Olympic Dam

Adelaide



BARTON(Nickel)

BARTON(Nickel)

THE TWINS (Copper-Gold)THE TWINS (Copper-Gold)





ANABAMA(Copper)

ANABAMA(Copper)

WARRAMBOO (Iron)WARRAMBOO (Iron)


BARTONBARTON

WESTERN GAWLER CRATONWESTERN GAWLER CRATON

BARTONNICKEL

EXPLORATIONCONCEPT

BARTONNICKEL

EXPLORATIONCONCEPT

Barton SidingImmarna Trans Australia Railway

Eyre Highway20 KM20 KM

Target intrusiveTarget intrusive

Airborne EMTraverse

Airborne EMTraverse

Proposed airborneEM survey areas

Hoistem systemHoistem system

BARTON NICKEL PROJECTAirborne Electromagnetics

BARTON NICKEL PROJECTAirborne Electromagnetics

BARTON NICKEL PROJECTBARTON NICKEL PROJECT

• Vastly underexplored area

• Conceptually attractive geological setting

• Target is massive nickel sulphides of Voisey’s Bay style

• Airborne EM provides the exploration tool

• Negotiations with potential JV party at advanced stage

• Vastly underexplored area

• Conceptually attractive geological setting

• Target is massive nickel sulphides of Voisey’s Bay style

• Airborne EM provides the exploration tool

• Negotiations with potential JV party at advanced stage

ANNUAL DRILLING ACTIVITYANNUAL DRILLING ACTIVITY


RC / Diamond RAB / Aircore

0

10000

20000

30000

40000

50000

1998 1999 2000 2001 2002 2003

Metres

2004

ForecastForecast

0

2.5

3.0

1998 1999 2000 2001 2002 2003 2004

$ (million)

ANNUAL EXPLORATION EXPENDITUREANNUAL EXPLORATION EXPENDITURE


Joint VentureJoint Venture

2.0

1.5

1.0

0.5


High levels of drilling in Australia’s newest gold frontier

Exciting new gold prospects

Active drilling program on new targets inpedigreed copper-gold district

~$2M funding by joint venturers in 2004 with additional ADN expenditure

New deals and projects in pipeline

Providing shareholders with discovery opportunities!

Date post:	10-Jan-2016
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KEITH YATES – Adelaide Resources Limited

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