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Demetallica Ltd (DRM)

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A Deep Dive profile provides ASX listed companies with an opportunity to tell their story in plain English.

Demetallica Ltd.

Demetallica Limited is an Australian public minerals exploration company with an extensive exploration portfolio composing of base metals, gold, silver and gypsum.  The Company's primary focus will be to expand on existing Resources and/or seek to define new mineral resources within its Projects to the standards of the JORC Code in order to assess and, where appropriate, pursue development options through studies and resource improvement.

Highlights

The Company holds an extensive exploration portfolio composing of base metals, gold, silver and gypsum

High quality board & management team with deep knowledge of assets and proven track record

100% interest in 6 exploration projects

Newly consolidated Chimera tenement position and resource base provides potential value upside

Complementary pipeline of growth projects provides opportunity for exploration success

OZ Minerals (6.6%#) and Sandfire (7.8%) positioned as foundation shareholders of Demetallica following the IPO

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People

Board

Roger Higgins

Non-Executive Chairman

Roger Higgins has over 40 years’ experience in mine management, project development and sustainability. He has worked in Australia, Canada, Chile, Papua New Guinea and USA. He is a Non-Executive Director of Newcrest Mining Ltd (ASX: NCM) and Worley Ltd (ASX: WOR).

Profile

Roger Higgins

Non-Executive Chairman

Roger Higgins has over 40 years’ experience in mine management, project development and sustainability. He has worked in Australia, Canada, Chile, Papua New Guinea and USA. He is a Non-Executive Director of Newcrest Mining Ltd (ASX: NCM) and Worley Ltd (ASX: WOR), Non-Executive Chairman of Ok Tedi Mining Ltd and Adjunct Professor with the Sustainable Minerals Institute (University of Queensland). The Board considers that Dr Higgins is an independent Director.

Andrew Woskett

Managing Director

Andrew Woskett graduated in civil engineering, worked for 4 years in petroleum retail infrastructure then joined CRA group company Minenco in 1981. He has 40 years project and corporate experience, directly responsible for definition, evaluation, construction and management of resource projects in base metals, gold, nickel, iron ore and coal.

Profile

Andrew Woskett

Managing Director

Andrew Woskett graduated in civil engineering, worked for 4 years in petroleum retail infrastructure then joined CRA group company Minenco in 1981. He has 40 years project and corporate experience, directly responsible for definition, evaluation, construction and management of resource projects in base metals, gold, nickel, iron ore and coal. Andrew is a Fellow of the Australasian Institute of Mining and Metallurgy and has a post graduate degree in commercial law. Andrew was managing director of Ballarat Goldfields NL (1993-2002), initiating modern underground mine development and consolidating the Ballarat field under single ownership. He was founding managing director of Spitfire Oil plc (2005-2008) and listed Spitfire on AIM in 2007. He became managing director of Minotaur Exploration (ASX: MEP) in March 2010 and ceased in that role on 28 February 2022 upon its merger with Andromeda Metals Ltd. The Board considers that Mr Woskett is not an independent Director.

George McKenzie

Non-Executive Director

George McKenzie is a resources and native title lawyer with over 25 years’ experience representing many of South Australia’s explorers and mine developers. He was a long standing Councillor of the South Australian Chamber of Mines and Energy Inc (SACOME), having served as Vice-President and is an Honorary Life Member of SACOME.

Profile

George McKenzie

Non-Executive Director

George McKenzie is a resources and native title lawyer with over 25 years’ experience representing many of South Australia’s explorers and mine developers. He was a long standing Councillor of the South Australian Chamber of Mines and Energy Inc (SACOME), having served as VicePresident and is an Honorary Life Member of SACOME. He was a member of the Minerals and Energy Advisory Council which advised the South Australian Minister of Mineral Resources and Energy on strategic issues, from 2000 to 2019. The Board considers that Mr McKenzie is an independent Director.

Antonio(Tony) Belperio

Non-Executive Director

Building on BSc (Hons) and PhD qualifications in geology, Tony Belperio has accumulated over 40 years of experience in a wide variety of geological disciplines in university, government and mineral exploration entities.Tony has demonstrated notable strategic leadership in copper-gold exploration.

Profile

Antonio(Tony) Belperio

Non-Executive Director

Building on BSc (Hons) and PhD qualifications in geology, Tony Belperio has accumulated over 40 years of experience in a wide variety of geological disciplines in university, government and mineral exploration entities. He has been awarded the University of Adelaide’s Tate Memorial Medal, the Geological Society of Australia’s Stillwell Award and Webb Medal, and AMEC’s Prospector of the Year Award for contributions in academic, government and exploration geosciences. Tony has demonstrated notable strategic leadership in copper-gold exploration, having played a lead role in the discovery of the Prominent Hill iron-oxide copper-gold deposit in 2001 in South Australia, and the Artemis and Jericho polymetallic discoveries in 2014 and 2017 respectively in the Cloncurry district. More recently Tony has pioneered the application of natural clay nanomaterials to address global environmental issues. Tony is a Fellow of the AusIMM and Non-Executive Director of Copper Search Ltd (ASX: CUS). The Board considers that Dr Belperio is an independent Director.

Key Management

Glen Little

Manager Exploration and Business Development

Glen has over 25 years' tenure as an exploration geologist and manager experienced across gold, copper and base metals. Glen has a strong record in copper-gold exploration, resource definition, project evaluation, project generation and business development

Profile

Glen Little

Manager Exploration and Business Development

Glen is a +25-year exploration geologist and manager experienced across gold, copper and base metals. Glen has a strong record in copper-gold exploration, resource definition, project evaluation, project generation and business development. Glen managed Minotaur Exploration’s technical activities for 7 years, leading the team to discovery of the Jericho copper-gold deposit. With Demetallica he will define and guide exploration directions and progress the business towards development of key projects.

Varis Lidums

Company Secretary and Commercial Manager

Varis Lidums is a Chartered Accountant with over 25 years’ experience in the resources, energy and accounting industries. He held senior positions in the UK with BP and Shell and was a Councillor of the South Australian Chamber of Mines and Energy Inc.

Profile

Varis Lidums

Company Secretary and Commercial Manager

Varis Lidums is a Chartered Accountant with over 25 years’ experience in the resources, energy and accounting industries. He held senior positions in the UK with BP and Shell and was a Councillor of the South Australian Chamber of Mines and Energy Inc. (SACOME). Varis joined Minotaur Exploration in 2012 and has gained hands-on M&A experience through Minotaur’s 2013 takeover of Breakaway Resources Ltd, 2022 merger with Andromeda Metals and Minotaur’s numerous asset disposals and purchases.

Projects

PYRAMID GOLD

The Pyramid tenement group is located 180km south of Townsville . The project, covering "150km²" embraces two main areas prospective for gold, being the West Pyramid Range and East Pyramid Range.

Demetallica is attracted to the project by the very credible drilling history and an extensive geochemical database, positioning Pyramid as a compilation of advanced gold exploration prospects.

Inaugural RC drilling in April 2021 successfully replicated historic drill results within the 500m strike envelope of known gold lodes. Demetallica intends to insert 2 diamond holes to obtain structural understanding of the lode system.

Highlights:

  • Potential for shear-hosted high-grade gold and larger-tonnage Intrusion Related Gold Systems (IRGS) comparable to Mount Leyshon and Mount Wright

  • Recent drilling at Gettysberg prospect demonstrated presence of shear-hosted high-grade gold mineralisation

  • Drilling planned for Djoser, Pradesh, Marrakesh and Gettysberg South

 

PEAKE & DENISON PROJECT

750km NNW of Adelaide on the NE margin of the Gawler Craton lies the Peake and Denison Inlier, a Paleoproterozoic basement terrane covered by younger sediments. The project area covering 2,547km² comprises four granted exploration licences owned 100% by Demetallica.

As well as being prospective for Cloncurry-style copper gold mineralisation, the Company believes the Peake and Denison Project area is also prospective for Cannington-style silver-lead-zinc mineralisation.

Copper mineralisation has been intersected in 4 historic drill holes at the Davenport Creek prospect, an intense northwest-trending magnetic anomaly that lies just north of the Sturt target.

Highlights:

  • Targeting IOCG and BHT mineralisation - geology has striking similarities to Cloncurry terrane in NW Qld

  • Multiple areas of enhanced magnetic response

  • OZ Minerals is funding $1.4M ‘proof of concept’ drilling into 3 selected targets

  • Diamond drilling to commence after Easter

 

CHIMERA POLYMETAL PROJECT

Chimera Project is well located in world-class Cloncurry mining district, Northwest Queensland. Strategic tenement position and resource base established via series of transactions with former joint venture partners OZ Minerals and Sandfire.

Highlights:

  • Demetallica cements a dominant footprint of +2,000km2

  • 3 JORC standard deposits within 20km radius - Jericho (Cu-Au-Ag) , Sandy Creek (Cu- Au) and Altia (Pb-Ag-Zn)

  • Combined resource base of +17Mt has 154kt of contained Cu and 107koz Au with significant exploration upside

  • Clear opportunity to significantly expand known resources through infill and extension drilling

  • Ability to systematically unlock regional potential through re-evaluation of known copper resources and reinvigoration of regional exploration

 

WINDSOR POLYMETALLIC PROJECT

The Windsor tenements are located 60km south of Charters Towers in mid north Queensland. Covering 629km² the 7 tenements offer discovery potential for multi-element deposits with similar geochemistry to nearby high-grade VMS style mines, such as Thalanga, Highway-Reward, Waterloo and Liontown. Stratigraphic horizons encapsulating those deposits are interpreted to continue through the Windsor ground. Past exploration has been inhibited by the highly conductive nature of the cover sequence overlying basement across significant parts of the project area, such that drilling is sparse and shallow. Where basement does outcrop drilling has been shallow, especially in modern-day terms; thus most of the tenement area is described as relatively lightly explored.

LAKE PURDILLA GYPSUM PROJECT

The Lake Purdilla Project comprises 2 tenements covering 219km2 . The Project is centred around 130km SE of Ceduna, South Australia .

The lake sediments located in depressions in the underlying Bridgewater Formation include fine silt and clay, with evaporitic gypsum, halite and aragonite. Lake Purdilla and Lake Toorna feature typically bare evaporate surfaces with extensive systems of well-defined gypsarenite dunes (≤ 10m) developed on the lake margins.

CANNINGTON PROJECT

The Cannington Project comprises 8 tenements covering 808km2 adjacent the Cannington silver-lead-zinc mine, approximately 200km by road southeast of Cloncurry in NW Qld.

As with the Chimera Project, the most relevant package of rocks within the Cannington Project is the Soldiers Cap Group and its lateral equivalents, the Kuridala and Staveley Formations The Project is prospective for structurally-controlled oxide-rich or sulphide-rich copper-gold mineralisation like Eloise, Kulthor and Osborne and sedimentary exhalative lead-zinc-silver mineralisation similar to Cannington and Pegmont. The major lead-zinc-silver Cannington deposit lies just to the east of the Project area and the Osborne Cu-Au deposit just south. The Company is currently undertaking a technical review of the Cannington Project’s large exploration data package and is yet to form a view as to where to target further exploration effort.

Milestones

Historical Milestones

Peak and Denison project farm-in and JV agreements executed with Oz Exploration Pty Ltd
Moonta JV executed by way of agreement with Peninsula Resources
Recent drilling at Gettysberg prospect demonstrated presence of shear-hosted high-grade gold mineralisation

Future Milestones

Resource upgrade and publication of a new resource estimate for the Jericho project
Demetallica to commence marketing of gypsum deposits at the Lake Purdilla project to plasterboard and cement manufacturer
Results of diamond drilling program at the Peake and Denison projects to enhance underestimating of resource
Target drilling for Windsor project to commence in Q3 2022

Resources

Jericho Drilling Progress

09 Jun 2022 | Presentation
PDF (2491.3 KB)

Presentation

14 Apr 2022 | report
PDF (4105.3 KB)

Prospectus

14 Apr 2022 | announcement
PDF (1713.5 KB)

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