NEWGEN21-Proceedings-Full

Cayley Lode Discovery – Shallow, High-Grade Mineralisation







● Magma / Butte copper lode-style system –

outstanding exploration target never before seen in


Australia


● Mineralisation so far defined over ~1.5 km strike


length to ~300m depth, averaging 10-50m thickness


● Resource drilling underway on ~40m X 40m drill

pattern



● Mineralisation remains open along strike and down-

dip



● Access to the southern paddock secured from 1

December 2021- 4 rigs















72

Cayley Lode Discovery – Shallow, High-Grade Mineralisation







● Magma / Butte copper lode-style system –

outstanding exploration target never before seen in


Australia


● Mineralisation so far defined over ~1.5 km strike


length to ~300m depth, averaging 10-50m thickness


● Resource drilling underway on ~40m X 40m drill

pattern



● Mineralisation remains open along strike and down-

dip



● Access to the southern paddock secured from 1

December 2021- 4 rigs















73

Cayley Lode Discovery – Resource Drilling Long Section






























































74

Magma, Arizona – Sulphide Zonation





Sulphides are zoned from

arsenical copper sulphides


typical of high-sulphidation


mineralisation through

intermediate sulphidation to low


sulphidation.


Gold has an affinity with the


distribution of bornite.


It should be noted that the high-


/ low-sulphidation mineralogy

should not be taken to imply a


degree of wall-rock reaction


common to those epithermal

deposit styles.







75

Magma, Arizona – Sulphide Zonation





Sulphides are zoned from

arsenical copper sulphides
Cayley SE Cayley NW

typical of high-sulphidation


mineralisation through

intermediate sulphidation to low

Cayley Surface
sulphidation.


Gold has an affinity with the

SMD073
distribution of bornite.


It should be noted that the high-


/ low-sulphidation mineralogy

should not be taken to imply a


degree of wall-rock reaction


common to those epithermal

deposit styles.







76

Cayley Lode Discovery – Amenable to Open Pit and UG









SMD087




● 87m @ 1.74% Cu, 0.57g/t Au and 20g/t Ag, incl.


● 24m @ 4.19% Cu, 1.27g/t Au and 53g/t Ag, and



● 9m @ 4.09% Cu, 1.83g/t Au and 39g/t Ag






Typical of most Cayley Lode intercepts:


– a large intercept amenable to open pit bulk

mining, and


- multiple discrete higher-grade intervals

providing a ‘sweet spot’ of focus for


underground mining







See ASX announcement 15/06/2020 and 14/07/2020 and available from www.stavely.com.au

77

Cayley Lode Discovery – Recent Big Intercepts







SMD104



● 144m at 1.04% copper, 0.15g/t gold and 3.4g/t


silver, from 35m drill depth, including:



● 84m at 1.55% copper, 0.23g/t gold and 5g/t


silver from 95m, including:



● 28m at 3.31% copper, 0.49g/t gold and


7.1g/t silver






















See ASX announcement 28/10/2020 and available from www.stavely.com.au


78

Cayley Lode Discovery – Recent Big Intercepts





SMD106



● 48m at 1.39% copper, 6.33g/t gold and 12g/t


silver, from 85m drill depth, including:



● 16.7m at 3.13% copper, 17.93g/t gold and 29g/t

silver from 115m, including:




● 2m at 0.74% copper, 132g/t gold and 38g/t

silver from 116m, and



● 0.9m at 21.10% copper, 17.45g/t gold and


232g/t silver from 130.8m



● Late-stage high-grade gold overprint associated


with cooler carbonate / base metal / precious



metal style of mineralisation


See ASX announcement 02/11/2020 and available from www.stavely.com.au


79

Cayley Lode Discovery – Where is the Gold?






























































80

Cayley Lode Discovery – Where is the Gold?








SMD051 149.8m (3.33g/t Au) µXRF at 100µm




















































81

Cayley Lode Discovery – Where is the Gold?






























































82

Cayley Lode Discovery – Where is the Gold?






























































83

Cayley Lode Discovery – Where is the Gold?






























































84

Cayley Lode Discovery – Where is the Gold?







SMD106



● 48m at 1.39% copper, 6.33g/t gold and 12g/t


silver, from 85m drill depth, including:



● 16.7m at 3.13% copper, 17.93g/t gold and 29g/t


silver from 115m, including:



● 2m at 0.74% copper, 132g/t gold and 38g/t


silver from 116m, and



● 0.9m at 21.10% copper, 17.45g/t gold and

232g/t silver from 130.8m














See ASX announcement 02/11/2020 and available from www.stavely.com.au


85

Cayley Lode Discovery – Where is the Gold?








SMD106 116m (173.5g/t Au) µXRF at 100µm




















































86

Cayley Lode Discovery – Where is the Gold?






























































87

Cayley Lode Discovery – Where is the Gold?






























































88

Cayley Lode Discovery – Where is the Gold?






116m






















































89

Cayley Lode Discovery – Where is the Gold?






➢ Selected drill core samples scanned at 100µm looking for gold ‘peaks’


➢ Those gold ‘peaks’ then scanned at 25µm to identify the deportment / association of the gold


✓ Of the ‘normal’ Cayley Lode mineralisation, typically 0.1-0.5g/t but can be up to 5.0g/t, gold is


most commonly associated with bornite and chalcopyrite



X However, for extremely high grades (say +10g/t), it would appear the gold is associated with a

late quartz-pyrite phase probably related to a cooler base-metal / precious metal style of


mineralisation



X The quartz-pyrite associated high-grade gold is unlikely to report to a sulphide concentrate

❖ The implication is that the high gold grades must be tightly constrained / severely top-cut in the


resource to ensure the ‘unrecoverable’ (rare) high grades are not smeared through the Mineral


Resource estimate so that they are not misrepresented as recoverable metal


❖ There is an option to include a gravity circuit in the process plant design to capture the high-

grade gold - bonus







90

Vertically Extensive – With Multiple Discovery Opportunities








SMD050: 32m at 5.88% copper, 1.00g/t gold and 58g/t silver,

from 62m drill depth on the UCF



SMD059: 18m at 1.00% copper, 0.1g/t gold and 3g/t silver,


from 235m drill depth on the UCF underneath the LAS





SMD032: 6m at 6.73% copper, 0.84g/t gold and 15g/t silver,

from 538m drill depth on the CLS

SMD044: 10m at 2.43% copper, 0.30g/t gold and 11g/t silver,

from 583m drill depth on the CLS




SMD044: 38.3m at 1.59% copper, 0.27g/t gold and 8g/t

silver, from 890m drill depth on the NSS

SMD044W1: 18m at 3.62% copper, 0.28g/t gold and 15g/t

silver, from 848m drill depth on the NSS





See ASX announcements 17/12/2019, 26/09/2019, 23/04/2019, 12/03/2019, 18/12/2018 and available from www.stavely.com.au


91

Current Programs – Systematic Exploration Approach








1. Complete shallow Resource drill-out on Ultramafic

Contact Fault (Cayley Lode)



2. Continue to define mineralisation on the Ultramafic
Contact Fault below the Low Angle Structure



3. Bring mineralisation in the Copper Lode Splay closer

to surface


1km
4. Extend the Copper Lode Splay at depth


5. Bring mineralisation in the North-South Structure

closer to surface


6. Test regional targets






 Big Bang opportunity – find the porphyry, it’s


still out there!






92

Current Programs – How do we see this as a possible development?







1. A Phase-1 open pit based on high-grade structurally-
controlled mineralisation drives an open pit that also


captures a significant proportion of the 28Mt at 0.4%

copper secondary chalcocite-enriched blanket



2. A Phase-2 underground is developed from the base of

the Phase-1 open pit and spirals between mineralised

lodes on either side of the decline




3. Additional lodes are accessed from existing infrastructure




4. If continuity of mineralisation is confirmed to depths in

excess of 1km – and we have intercepted mineralisation

at ~1,150m drill depth in SMD045W2* – then at a vertical

rate of mining advance of 50m-60m per year, we can


envisage a multi-decade underground mine life after the

Phase-1 open pit


*See ASX announcement 18 June 2019 and available from www.stavely.com.au

93

REGIONAL EXPLORATION




































94

Regional Exploration – Toora West Discovery






● Emerging discovery at the Toora West porphyry prospect


● ‘Blind’ discovery under 30m of younger transported cover


















































95

Regional Exploration – Toora West Discovery






● Emerging discovery at Toora West


● Aircore drilling intercepts porphyry-style alteration and quartz


veining with copper sulphides defined over 1,600m x 1,000m


o STWAC029

▪ 1m at 0.15% Cu from 58m down-hole, and

▪ 3m at 0.34% Cu from 64m, including:


• 1m at 0.61% Cu and 2.46g/t Ag from 64m

o STWAC030

▪ 3m at 0.17% Cu from 35m down-hole, including:


• 1m at 0.32% Cu from 35m, and

▪ 1m at 0.14% Cu from 45m

o STWAC031

▪ 3m at 0.11% Cu from 39m down-hole, and


▪ 1m at 0.18% Cu from 50m to the end-of-hole


● Strong anomalism, better grades expected at depth


See ASX announcement 07/07/2021 and available from www.stavely.com.au

96

Regional Exploration – Massive Opportunity for Discovery






● Emerging discovery at Toora West


● ‘Blind’ discovery under 30m of younger transported cover



● To be tested with 3 x diamond drill holes as soon as


ground conditions permit (still soggy)



● Very important implication:



● The Stavely Minerals geology team has developed a

targeting methodology that has identified porphyry-style

copper-molybdenum mineralisation under cover



● This methodology can be extended throughout the

1,500km tenure held by Stavely Minerals
2


● The team has identified 19 regional targets ready for


testing subject to landowner access agreements (~20 of

50 done)


See ASX announcement 14/10/2021 and available from www.stavely.com.au

97

Summary – Key Factors that Contributed to Discovery






● The key factors that contributed to the discovery of the Cayley Lode include:


● Getting into a prospect that had:

● A large hydrothermal system


● An unusually oxidised and low-pH fluid


● Good metal endowment


● A willingness to drill-test concepts as drilling builds the knowledge base, and the target/model evolves with new
information



● Routine collection of multi-element geochemistry plus SWIR on every metre of drilling

● The early and ongoing use of external consultants – this brings to bear a multiplier effect in terms of the number
and variety of systems previously seen and provides specialist skills to the group


A very flat organisational structure and an appreciation of diversity – not necessarily in traditional diversity areas of
●
gender, sexuality, religion or race – although those can contribute to diversity in backgrounds, experiences,

perspectives and skillsets, the key being an environment where people engage with a diversity of ideas that can be

openly debated




● Keeping an open mind – we came into this project looking for a porphyry (and still are) but discovered a lode-style
of copper-gold-silver mineralisation not previously known in Australia


98

Acknowledgements






● Many thanks to our primary consultants:
Dr Greg Corbett
●

Dr Scott Halley
●

● Dr Paul Ashley


● Credit is due to the Geological Survey of Victoria and Geoscience Australia for the work they had done that
provided us confidence in the prospectivity of the Stavely Volcanic Arc, with especial mention to:


Dr Ross Cayley
●
David Taylor
●

● Phil Skladzien


● Credit is also due to the Victorian Government for providing ~$1 million of drilling co-funding leading up to the
Cayley Lode discovery



● Credit is primarily due to the geology and field assistant team on-site and in the office including:
Hamish Forgan
●

Stephen Johnson
●


● Dr Michael Agnew

● Jennifer Murphy

99

THANK YOU Contact Us:



Stavely Minerals Limited

Level 1, 168 Stirling Highway
Nedlands WA 6009
www.stavely.com.au

[email protected]
Ph: 08 9287 7630





The information in this presentation is extracted from information available to view on www.stavely.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 announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in
the relevant market announcement continue to apply and have not materially changed. 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.






100
100

Cayley Lode Discovery – Where is the Gold?






























































101

Cayley Lode Discovery – Where is the Gold?








SMD051 149.8m (3.33g/t Au) µXRF at 100µm




















































102

Cayley Lode Discovery – Where is the Gold?






























































103

Cayley Lode Discovery – Where is the Gold?






























































104

Cayley Lode Discovery – Where is the Gold?






























































105

Cayley Lode Discovery – Where is the Gold?







SMD106



● 48m at 1.39% copper, 6.33g/t gold and 12g/t


silver, from 85m drill depth, including:



● 16.7m at 3.13% copper, 17.93g/t gold and 29g/t


silver from 115m, including:



● 2m at 0.74% copper, 132g/t gold and 38g/t


silver from 116m, and



● 0.9m at 21.10% copper, 17.45g/t gold and

232g/t silver from 130.8m














See ASX announcement 02/11/2020 and available from www.stavely.com.au


106

Cayley Lode Discovery – Where is the Gold?








SMD106 116m (173.5g/t Au) µXRF at 100µm




















































107

Cayley Lode Discovery – Where is the Gold?






























































108

Cayley Lode Discovery – Where is the Gold?






























































109

Cayley Lode Discovery – Where is the Gold?






116m






















































110

Discovery of the





Hemi Gold Deposit












9November 2021

FORWARD LOOKING STATEMENTS DISCLAIMER





These materials prepared by De Grey Mining Limited (or the “Company”) include forward looking statements. Often, but not always, forward looking statements can generally be
identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may
include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs

or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and
achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign
exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development,

including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework
within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel,
industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments
that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking

statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or
foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking
statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are
beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these

materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant securities exchange listing rules, in providing this information
the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or
circumstances on which any such statement is based.

All references to the scoping study and its outcomes in this presentation relate to ASX announcement Mallina Gold Project Scoping Study dated 5 October 2021. Please refer to the

announcement for full details and supporting information.
2

Acknowledgements






▪ Andy Beckwith – Technical Director


▪ Allan Kneeshaw – Business Development Manager


▪ Rohan Deshpande – Hemi Exploration Manager



▪ Steve Garwin – Geology Consultant


▪ Contractors (Topdrill, Wallis, Bostech), ALS laboratories etc


▪ Many Geologists and field crew on the De Grey exploration team





























3

Presentation outline






▪ Introduction/Regional
Geology



▪ Early exploration



▪ De Grey exploration


▪ Drill targeting



▪ Hemi discovery


▪ Maiden resource

estimate



▪ Scoping Study


▪ Hemi geology



▪ Conclusions








4

Introduction






▪ Hemi – recently discovered

6.8Moz gold deposit in Pilbara


▪ ~60km south of Pt Hedland



▪ ~150km long tenement package


▪ De Grey – held Hemi tenement

since before 2002


▪ 9Moz total gold resources



























5

Regional Geology





▪ Hemi in the Archaean Pilbara Craton


▪ Broad ENE trending greenstone and meta-sedimentary sequence


▪ Complex folding and deformation



▪ Mallina Formation sediments


▪ Intruded by Langenbeck mafic-ultramafic sills and felsic to intermediate granitoids (Mt Dove Granite)


▪ Major structural corridors – Tabba Tabba shear zone and Mallina shear zone






























6

Pilbara Gold – Mallina (1888)















































Rock with visible gold picked up by Jimmy Withnell to throw Telegram sent by Magistrate Colonel Edward Fox

at a crow near Roebourne in 1888 1 Angelo to Colonial Secretary Sir Malcom Fraser

following Jimmy Withnell’s gold discovery 2


1: Source: WA Museum 7
2: Source: State Records Office of WA Cons527 Item 1888/0244

Pilbara Gold – Toweranna (1895)














▪ Pilbarra Creek (1888)


▪ Egina (1888)



▪ Nickol River (1890)


▪ Croyden (1895)


▪ Hong Kong (1895)


▪ Toweranna (1895)


▪ Weerianna (1896)



▪ Station Peak (1897)












8

Early Exploration – 1960s - 2000






▪ 1960s – Bamboo Creek discovered old workings (Barry Stubbs prospect) on Tabba Tabba


shear zone, 11km SE of Hemi


▪ 1970s – 1980s – Ni-Cu PGE exploration (International Nickel, Utah, Hunter)



▪ Geophysics, mapping, soil geochem, 12 percussion holes


▪ 1988 – Several RC holes drilled at Location 9 (Jacob), 2km SE of Hemi



▪ WMC – explored for gold 1981-82 and again in 1991. Discovered mineralisation on TTSZ

(Amanda prospect, 25km ENE of Hemi)



▪ 1995 - CRAE – O’Meara JV. Significant results from TTSZ 10km SE of Hemi in RAB. Follow up

RC negative and CRAE pulled out

















9

MallinaShear Zone exploration




▪ 1996 – Resolute discovered “Indee” (Withnell) deposits, 25km WSW of Hemi, during

regional scale exploration program


▪ Resolute – also discovered Calvert, T1 (Shaggy) and Mt Berghaus


▪ Increased interest in exploration potential of MSZ









































10

De Grey Mining Ltd










▪ DEG listed on ASX in

HEMI 2002, with founding

Chairman Ron Manners

and MD Denis O’Meara



▪ Tenement package

assembled by O’Meara, a


well-known prospector

























▪ De Grey Prospectus, 2002 11