A Global Exploration Vehicle Principal exploration company in
A Global Exploration Vehicle • • • Principal exploration company in Lundin Group Active in Eritrea and South America Business model: Add value through exploration Flexible and opportunistic Cash ~$21 million Symbol NGQ – TSX Shares outstanding 146. 8 million Fully diluted 154. 2 million Market Capitalization $145 million
The Lundin Group-Combined value >$10 B One of the most successful resource groups in the world Oil Exploration Oil Production Mining Exploration Mining Production Other
Projects Canada – JV Partner copper-gold porphyry Eritrea volcanogenic massive sulphide copper/zinc Congo carbonate hosted copper/lead/zinc Chile, Argentina copper-gold porphyry
Arabian-Nubian Shield A Major Massive Sulfide Province • • • Arabian-Nubian Shield emerging as one of the world’s most significant VMS belts >180 Mt of massive sulfide discovered in last ten years. Best discovery record in the world. Much of it in Eritrea High value gold-rich deposits. High value gold caps overlie enriched copper mineralization Still underexplored Desert terrain is easy to explore with low cost remote sensing and basic prospecting Most has not been flown by airborne geophysics Ariab +60 Mt Hambok 27 Mt Asmara 60 Mt Bisha 39 Mt
Eritrea Bisha Deposit: 1 million oz gold 9. 8 million oz silver 747 million lbs copper 1 billion lbs zinc Gold-Rich VMS Exploration • Large land package covering extensions of Bisha belt • Significant resource at Hambok • Excellent exploration potential near Hambok • New high grade discovery at Aradaib
• Prospecting has identified numerous gossan + outcrops on licenses • Area has never been flown with airborne Mag and EM • VTEM Survey underway • Will cover Hambok Trend, Aradaib, and Shukula for the first time • Expected to generate lots of drill targets. M+I 10. 4 Mt @ 1% and Cu 2. 2% Zn Inferred 17 Mt @ 0. 85 Cu and 1. 7% Currently conducting VTEM survey in order to detect mineralized bodies obscured by overburden.
Hambok Trend • Hambok is coincident with a strong gravity anomaly shown in red • Untested potential along linear trend from Hambok • This area will be covered by planned airborne survey
Aradaib • Recent high-grade discovery ARD-01: 10 m 1. 9% Cu, 1. 2% Zn, 0. 92 g/t Au, 21 g/t Ag 7 m 1% Cu, 15. 1% Zn, 0. 39 g/t Au, 33 g/t Ag ARD-03: 13 m 3. 3% Cu, 5. 6% Zn, 1. 8 g/t Au, 46 g/t Ag ARD-04: 7 m 2. 7% Cu, 1. 7% Zn, 0. 82 g/t Au, 26 g/t Ag ARD-10 -03 From 71 to 72 m: 11. 70 g/t Au 157 g/t Ag 9. 63% Cu 6. 50% Zn
Oil Exploration Aradaib Exploration Potential • 3 km trend. Oil of Production anomalous rock geochemistry; scattered gossans • Extensive shallow cover on strike Mining Exploration Mining Production • Drilling to date has only tested a tiny fraction of the exploration potential • Upcoming airborne survey will trace mineralization under cover Other
Other Significant Prospects - Shukula • • Significant new discovery High copper-zincgold gossan Opens up a new belt Will be covered by airborne survey
Other Significant Prospects. Koken • Favorable host rocks extend for >100 km to the north of Bisha • Alteration associated with mineralization shows up on satellite imagery- green and red patches • Follow-up prospecting has found high copper, zinc, gold geochemistry
Eritrea- Other Opportunities • Significant new shallow potash play • Historical production; recent new results • Close to tidewater • Potential for other evaporite minerals? ? Recent shallow potash intercepts 15 m 16% KCl
NGEX in South America • Porphyry copper-gold projects • NGEX has exactly the kind of projects all of interest to: the above will want – China, Japan, and Korea – mid tier base metal producers – Gold companies • Large copper deposits in stable jurisdictions on Pacifc rim are very rare • Most are controlled by majors – – Large size +500 Mt potential By-product gold; good Cu eq grades Concentrate producers Located in stable jurisdictions on Pacific rim
Vicuna Project • Copper and gold potential • District scale play – at least 3 major copper-gold systems on one contiguous land package – each one a potential company maker • Partnered with Japanese – 60% NGEX – 40% JOGMEC
Josemaria, Argentin Cover Resource • Large resource with potential to grow substantially • Is the other half under cover? • Higher grade core • JOGMEC earning 40%, funding current program
Los Helados, Chile Large copper-gold porphyry system At least 1000 m by 700 m by 450 m 760 m @ 0. 4 % Cu, 0. 2 g/t Au Including 345 m 0. 6% Cu, 0. 2 g/t Au Deepest drill holes still in mineralization at +800 M Higher grades at southern end High sulfidation gold potential at higher levels
Filo del Sol • Large highsulphidation gold system • Overprinted on deeper porphyry copper • Very large alteration zone with limited testing Holes drilled so far are very similar to first 54 first holes at Veledaro
A Significant Resource Base with Excellent Exploration Potential
Summary • A very strong pipeline of resource and resource extension projects in South America and Eritrea- not fully valued • Eritrean projects historically discounted but this may be changing – – Hambok is very similar to Emba Derho Aradaib is the best new discovery since Bisha Airborne Mag/EM could be a game changer Opening of Bisha Mine and strong interest in region from gold majors may lead to re-rating of Eritrean projects • South American exploration starts November, 2010 – Will drill 4 porphyry copper projects and one high-sulfidation gold project. News through May 2011 • Teck program at GJ- Spring 2011
Thank You! For more information please contact: Wojtek Wodzicki, President and CEO wojtekw@namdo. com or Sophia Shane sophias@namdo. com or Check our website www. ngexresources. com
NGEX NI 43 -101 Resources Total Inferred • 4. 4 billion lbs Cu • 4. 8 million oz Au • 652 million lbs Zn • 3. 2 million oz Ag • 673 million lbs Cu Total • 833, 363 oz Au Measured and • 530. 7 million lbs Zn Indicated • 2. 4 million oz Ag Project T Mm Cu % Cu lbs mm Zn % Zn lbs mm Au g/t Au oz Ag g/t Ag oz mm Hambok M&I 10. 7 0. 98 231. 2 2. 25 530. 7 0. 2 68, 801 6. 84 2. 3 Hambok Inferred 17 0. 85 318. 6 1. 74 652. 1 0. 19 103, 845 5. 89 3. 2 GJ M&I 69. 1 0. 29 442 0. 34 764, 562 GJ Inferred 23 0. 26 131. 8 0. 31 229, 230 Josemaria Inferred 460 0. 39 3, 955 0. 30 4, 436, 700
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