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7/27/2019 AUC Mining - Exploration & Mining Potential in Kamalenge, Uganda
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October 2013
AUC MINING (U) Ltd
Exploration & Mining Potential inthe Kamalenge Area of Uganda
7/27/2019 AUC Mining - Exploration & Mining Potential in Kamalenge, Uganda
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AUC UGANDA
Part of the Congo Craton wedged between producing
goldfields in the eastern DRC and northern Tanzania
Permitting processes and legal tenure clearly set out
in the law
Encouraging the development of its mineral sector
Has invested heavily with World Bank and NDF
supported airborne data surveys (SMMRP)
A number of our targets host past and current
artisanal workings
High levels of international and local interest in themineral sector
Functional infrastructure, upgrades to road andpower networks ongoing
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7/27/2019 AUC Mining - Exploration & Mining Potential in Kamalenge, Uganda
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AUC SOCIAL RESPONSIBILITY
STRIVE TO IMPROVE THE QUALITY OF LIFE OF THOSE INVOLVED IN OUR INVESTMENTSTHROUGH IDENTIFYING SUSTAINABLE DEVELOPMENT OPPORTUNITIES
WE FURTHER: PROVIDE ASSISTANCE WITH LOCAL EDUCATION
IMPROVE WATER SUPPLIES MAXIMISING LOCAL PROCUREMENT AIDING THE FIGHT AGAINST MALARIA AFFORDING VOCATIONAL STUDIES TO UNDERGRADUATES TRAINING LOCALLY EDUCATED GRADUATE GEOLOGISTS IMPROVING OUR INFRASTRUCTURE HAS AIDED LOCAL COMMUNITIES USING UGANDAN SERVICE PROVIDERS WHEREVER POSSIBLE
7/27/2019 AUC Mining - Exploration & Mining Potential in Kamalenge, Uganda
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AUC COMPANY SNAPSHOT
Gold focused mining and exploration company
Setup to secure investments for the Ugandan mineral sector
Active in Uganda since 2006
One of the largest mineral investors here in recent times
US$14m of investments raised in the private equity market
A track record of mineral developments internationally and inUganda
Enhancing the knowledge database in our areas of interest
Engaged with successful and credible partners
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AREAS OF INTEREST
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AUC OUR FOCUS AT KAMALENGE
Regional and Detailed Exploration for GOLD andIOCG Type Deposits
Minimum of 4 magnetic lineaments defined at Kamalenge forexploration and mining.
13 hard rock Gold & IOCG areas defined at Kamalenge by Trenchingand Soils Geochemistry.
1 hard rock zone defined at Kamalenge for mining (Targets 1,2 and 3)with a preliminary resource of 45,000 tonnes at 6.2 g/t (Target 1).
7/27/2019 AUC Mining - Exploration & Mining Potential in Kamalenge, Uganda
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AUC VALUE OF THE SMMRP WORK
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Airborne MagneticTrends Related toCurrent Defined
Targets
The GMU License Areas areshown compared with the
magnetic anomalies defining aminimum of 4 possible zones
of mineralisation.
The aero-magnetic anomaliesvary between 8 and 16 km in
length are part of a largerstructure which is in excess of
25 km – the Lusaba Shear.
The Kamalenge Mining Licenserepresents 6 km2 within apotential area of 150 km2.
ScaleEach
quadrangleis 4 x 4 km
KamalengeMining Area
40 km
32 km
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AUC KAMALENGE – Local Targets
ScaleEach quadrangleis 500 x 500 m2
Lugingi and
Kyasampawo Area
SOIL GEOCHEMISTRYSIGNATURES
All 13 defined Target Areas
based on the Au (Cu, As, Pd)
signature (Yellow)
and theIOCG (Cu, U, Au, Ag, LREEs -Light Rare Earths) signature
(Brown).
Targets B through to H stillhave to be investigated.
Detailed sampling and trialmining in progress on
Target 1.
5 km
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AUC KAMALENGE – Exploration & Mining
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TARGET 1
(From the North East)
Reef 1 – Blue
Reef 2 – Green
Reef 3 – White
Reef 4 – Light Brown
Roads are in Red
Current Trenches areIn White
First Phase of the miningwill be in the Reefs
between the valley andTarget 1 hill
Exploration is continuing onTargets 1, 2, 3,
Kyasampawo Hill and theAdit
TARGET 1 Hill
and Mining Area
Kyasampawo Hilland the Adit
PIT A - Alluvials Area
Proposed Drilling program ( 1890 m) is planned
On TARGET 1 to intersect the Reefs at depths of
between 20 to 150 metres
TARGET 2
TARGET 3
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AUC KAMALENGE – Further Exploration
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TARGET 1 Hill
Drilling AreaKyasampawo Hill
and the Adit
PIT A - Alluvials Area
TARGET 1 Drilling intersects the Reefs atdepths of between 20 to 150 metres
TARGET 2
TARGET 3
TARGET 1 Proposed Drillholes andIntersections
1 24 3
Reefs
A B
A
B
200 m
Reef 1 – Blue
Reef 2 – Green
Reef 3 – White
Reef 4 – LightBrown
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AUC KAMALENGE – Exploration Potential
Kyasampawo Hilland the Adit
TARGET 1 Hill
and Mining Area
TARGET 3
TARGET 2
LUGINGI
LUGINGI – 1km Strike
(South of Targets 1 & 2)
Mineralisation length 1km – Open both ends
Zone over 116m wide – Open to South
Average ore width 54m (0.5g/t cut-off)
Average ore grade of 3.99g/t
Resource to 25m depth = 450,000 Oz
Resource to 100m depth = 1.8Mil Oz
LUGINGI – 3km Strike
(South & West of Targets 1 & 2)
Geological mapping shows length 3km – Open both ends
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AUC ALLUVIALS - Processing Trials
ALLUVIAL MATERIAL
5sq.km of Au bearing gravelsmapped
9,600 m3 processed at 287
mg/m3 recovered 2750 g (88 oz) of Au produced
Break-even recovery required= 660 mg/m3 (~0.4g/t)
Main challenges: Clay, Dilution,
Grade Control Enhanced processing options
under review
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AUC KAMALENGE – Primary Ore Trials
HARD ROCK (Pit C and adit area – Kyasampawo Hill )
TARGET 1
Open pit and part underground operation
In situ grade 5.7 g/t Au.252 tonnes processed at a feed head grade of 2.89 g/t
300 g ( 10 oz ) of Au production
Estimated gold recovery by gravity only, 41%
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7/27/2019 AUC Mining - Exploration & Mining Potential in Kamalenge, Uganda
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AVERAGE GOLD PRICE DURING THE TRIALMINING PERIOD WAS US$1,100 PER OUNCE.
AUC HISTORIC GOLD PRICE CHART
Data Source: Kitco website – September 2013
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AUC DOW:GOLD RATIOS
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Dow (DJIA) to gold ratio from 1900 to present andprojected to 2035. Major gold producers are listed at
the point that they were founded.
Yellow shading highlights periods when gold mining andexploration were generally more vibrant than othertimes.
Extract from “The Gold Report” interview with geologist & Exploration
Insights writer Dr.Quinton Hennigh – June 2012.
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AUC EXPLORATION TEAMS
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AUC ALLUVIALS MINING & PROCESSING
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AUC HARD ROCK MINING
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AUC INFRASTRUCTURE
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AUC MINING FLEET
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AUC IMPORTANT INFORMATION
Disclaimer and restrictions :
This presentation contains only a brief overview of Gold Mines of Uganda Limited and its associatedentities (“GMU”) and their respective activities and operations. The contents of this presentation, may
rely on various assumptions and subjective interpretations which is not possible to detail in thispresentation and which have not been subject to any independent verification.
This presentation contains both historical and a number of forward-looking statements. Known andunknown risks and uncertainties, as well as factors outside of GMU’s control, may cause the actual results,performance and achievements of GMU to differ materially from those expressed or implied in thispresentation. GMU does not warrant the accuracy, currency or completeness of the information withrespect to forward-looking statements contained in this presentation, nor the future performance of GMU.
The information contained in this document is being supplied only to persons who fall within Article 11(3)of the Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1996 (as amended). Norepresentation or warranty, express or implied is given to the accuracy of the information or opinionscontained in this document and no liability is accepted by GMU or any of its directors, members, officers,employees, agents or advisers for any such information or opinions.
Accordingly, this information is being supplied to you, in whole or in part, for information purposes onlyand not for any other purpose. In particular, the distribution of this document in jurisdictions other thanthe United Kingdom may be restricted by law and persons into whose possession this document comes
should inform themselves about, and observe, any such restrictions. Any failure to comply with theserestrictions may constitute a violation of laws of any such other jurisdiction.
This document and the information contained in it do not constitute a prospectus and do not form anypart of an offer of, or invitation to apply for, securities or shares. Any decision to apply for securitiesmust be made solely on the basis of information contained in the public domain.