Building a substantial new long-life gold project in

Australia's premier gold district

ASX Code: BDC

February 2019 RRS Summer Series

Sydney | Melbourne

Corporate Overview

Capital Structure

ASX Code

BDC

Shares on Issue

915.7 million

~$41 million (at 4.5c)

Market Capitalisation

Top 20 Shareholders

36.4%

12.46%

Board & Management

Cash at 31 January 2019

~$1.6 million

Board of Directors

David Hatch

Non-executive Chairman

John Young

Managing Director

Executive Director

Neil Biddle

Rowan Johnston

Executive Director

Peter Buttigieg

Non-executive Director

Sam Randazzo

Non-executive Director

Management & Technical Team

Russell Hardwick Bradley TomsChief Financial Officer/Company Secretary Exploration Manager

Ross Whittle Herbert Catherine Jones

Senior Geologist Senior Geologist

2019 - Positioned for Growth

  • Two corporate mergers completed (Aphrodite Gold, Excelsior Gold)

  • 12,700m of diamond and RC drilling at Aphrodite

  • Total group Mineral Resource Estimate (MRE) completed for newly-consolidated Bardoc Gold Project:

    38.6Mt @ 2.1g/t gold for 2,575,000 ounces of contained gold

    (ASX Release 13 Nov 2018)

  • Incorporates new Indicated and Inferred Resource for Aphrodite: 20.2Mt @ 2.4 g/t gold for 1,563,000 ounces of contained gold

  • 2018 diamond drilling success at Zoroastrian points to potential expansion of underground Resources

  • Technical / feasibility studies will continue into 2019 to advance the Bardoc production strategy

  • Consolidated MRE provides a strong foundation for ongoing feasibility and technical studies aimed at establishing the Bardoc Gold Project as a significant new mid-tier gold development project in the North Kalgoorlie region of WA

  • Potential for further consolidation opportunities

Aphrodite - Expansion of Alpha Deeps

  • New Indicated and Inferred Mineral Resource

    • 20.2Mt @ 2.4 g/t gold for 1,563,000 ounces of contained gold

  • 24% increase in contained ounces - up by 300,000oz

  • Further drilling required targeting the "Alpha Deeps" which remains open in all directions

  • 2019 Updated Exploration Target of 1.6 - 2.6Mt at 4 - 6g/t Au for ~200,000 to 500,000 ounces*

  • Focus on the underground - conversion to Ore Reserve estimated at 45%

  • R&D work on ore sorting is ongoing

* The potential quantities and grades of the Exploration Target are conceptual in nature and there has been insufficient exploration to date to define a Mineral Resource. It is not certain that further Exploration will result in the estimation of a Mineral Resource.

Attachments

  • Original document
  • Permalink

Disclaimer

Spitfire Materials Ltd. published this content on 12 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 February 2019 23:34:03 UTC