review of the saddle north geological …...shawn campbell cfo management participants webcast...
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Tatogga Project, Golden Triangle, BC Webcast presentation - April 29, 2020
R E V I E W O F T H E
S A D D L E N O R T H G E O LO G I C A L M O D E L
GTT : TSX-V
Shawn CampbellCFO
Management Participants
Webcast Technical Review of the Saddle North Geological Model
TSXV: GTT 2
Michael SkeadVP Project Development
Paul HarbidgePresident, CEO
and Director
➢ ➢
Limited in-person meetings
and postponed business
travel
➢
➢
➢
➢
Creating a plan to operate while
instituting health and safety guidance Supporting the health and safety
of employees and contractors
Mandated work from home
where possible
Drill core personnel reduced
to minimum necessary at
2 m social distancing
Monitor the situation closely and
maintain communication with
Tahltan Central Government
Act according to guidelines of
BC Office of Provincial Health
Abide by all safety protocols
established within Tahltan
Traditional Territory
IMMEDIATE EXPLORATION SEASON AHEAD
HEALTH AND SAFETY
COVID-19 Response Plan
TSXV: GTT 3
Cautionary Statement Regarding Forward Looking Information
TSXV: GTT 4
Certain statements included in this presentation constitute forward-looking statements, including those identified by the words “proposed”, “will”, anticipate”, “believe”, “plan”, “estimate”,
“expect”, “intend”, “may”, “should” and similar words and expressions to the extent they relate to GT Gold Corp. (the “Company”) or its management.
The forward-looking statements are not historical facts and are based on current expectations and various estimates, factors and assumptions, and therefore involve known and unknown risks,
uncertainties and other factors.
Any forward-looking statements represent the Company’s estimates only as of the date of this presentation and should not be relied upon as representing the Company’s estimates as of any
subsequent date. The material factors and assumptions that were applied in making the forward looking statements in this presentation include:
• execution of the Company’s existing plans or exploration programs for its properties, which may change due to changes in the views of the Company, or if new information arises which
makes it prudent to change such plans or programs; and
• the accuracy of current interpretations of geochemical, geophysical, drilling and other exploration results, since new information or new interpretations of existing information may result in
changes in the Company’s expectations. Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or
achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties
or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-
looking statements will materialize. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
QA/QC PROCEDURES
GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of RC chips and diamond drill core, the complete
details of which can be viewed on the Company’s website at http://www.gtgoldcorp.ca/projects/tatogga/
For full details on both Saddle North and Saddle South reverse circulation and diamond drill program assay results widths reported in this presentation, please refer to the corresponding press
release available on the Company website at www.gtgoldcorp.ca/news/. All assays are performed by ALS Canada Ltd. (Minerals), with sample preparation carried out at the ALS facility in
Terrace, BC, and assays at the North Vancouver laboratory. Assay values are uncut. For gold, fire assays are performed as per ALS protocol Au-AA26 (0.01-100.00 g/t Au) using 50 grams of
sample with assays equal to or greater than 5 g/t Au calculated gravimetrically, and lower-grade samples measured by (AA) atomic absorption. All samples that return equal to or greater than 5
g/t Au from initial fire assaying are additionally sent for screen metallic analysis using the remainder of the pulp (~950 grams of sample). This step is taken to ensure that any coarse grained,
nugget gold fraction that may have been missed in the fire assays has been captured.
GT Gold Corp.’s Qualified Person as defined by National Instrument 43-101 is Michael Skead, FAusIMM, VP Project Development. Mr. Skead has reviewed and approved the technical
information in this presentation.
Short History of Greenfield Value Creation
TSXV: GTT 5
Q4 2016 2017 2018 2019 Q1 2020Saddle North
PEA YE 2020
Saddle North
Infill and
Expansion
Drilling
Saddle South
Discovery
GTT:TSX-V
opens on
market
Saddle North
Discovery
Saddle North
Geological
Model
TATOGGA PROPERTY
Tier 1 Mining Jurisdiction with Access and Infrastructure
4/30/2020TSXV: GTT 6
Saddle North Geological
Model
SADDLE NORTH GEOLOGICAL MODEL
Preparation: Core Relog and Process Overview
41 Saddle North drill holes
(31,397 metres) relogged for lithology, alteration & structures
over winter 2019/2020
• Multi-element geochemistry used
to define cryptic lithologic breaks
• Geophysical modelling of magnetic
and Induced Polarization data
used to delineate various units of
lithological, alteration types, and
structures
TSXV: GTT 8
Geologists at work in logging facility
• A series of hand drawn cross
sections and level plans were
completed for lithology, structure,
alteration and mineralization
• Scanned and georeferenced
sections were manipulated using
Leapfrog software to create a well-
constrained 3D geological model
SADDLE NORTH GEOLOGICAL MODEL
Preparation: Process Overview
TSXV: GTT 9
Two major structures bound mineralization at Saddle North
SADDLE NORTH GEOLOGICAL MODEL
Structure: Physical Bounds
TSXV: GTT 10
2. Southern Fault
1. Poelzer Fault
• Well-defined and
very predictable
• Strongly foliated
zone forming the
footwall to the known
mineralized zone
• Relatively planar
• Marks the southern
contact of porphyritic
intrusive rocks with
host volcanic rocks
• Characterized by
more brittle fracturing
SADDLE NORTH GEOLOGICAL MODEL
Lithology: Porphyry
• Gold-rich copper porphyry centered on
a series of monzodiorite and monzonite
intrusions
• Intrusive complex interpreted to represent a
series of igneous bodies intruded over a
relatively short period of time in late Triassic
• Minor post-mineralization felsic and mafic dykes
also observed
• Host country rocks belong to the Triassic Stuhini
Group
• The intrusive complex and its host rocks (Stuhini
Group) are overlain unconformably by the Lower
Jurassic Hazelton Group
.
TSXV: GTT 11
Intermineral
Phase 1 (“I1”)
Intermineral
Phase 2 (“I2”)
SADDLE NORTH GEOLOGICAL MODEL
Lithology: Mineral Phases
• Cross section through lithologic model, showing porphyry
phases, Stuhini Group host volcanic rocks, and overlying
Hazelton Group clastic and subordinate volcanic rocks.
TSXV: GTT 12
• Eight lithology phases defined: two distinct inter-
mineral phases (I1-I2) and six less distinct and
generally better-mineralized older phases (P0-P5)
Au Cu
P1
P2
P3
P4
• Porphyry phases have significant controls on Au, less so on Cu
SADDLE NORTH GEOLOGICAL MODEL
Mineralization: Lithology and Grade
TSXV: GTT 13
Potassic: low Potassic: moderate Potassic: high
SADDLE NORTH GEOLOGICAL MODEL
Alteration: Potassic• Potassic alteration - the dominant style of alteration associated with intense quartz-sulphide A-style quartz
vein stockworks that carry higher-grade Au and Cu at Saddle North
TSXV: GTT 14
Saddle North core showing
potassic alteration
Poelzer
Hangingwall
Poelzer
Footwall
Poelzer
Hangingwall
SADDLE NORTH GEOLOGICAL MODEL
Alteration: Quartz-Sericite-Pyrite (QSP)• QSP alteration (phyllic alteration) – a moderate to intense hydrothermal alteration found both above & on
the shoulders to the potassic core of the system with strong showing in the Poelzer footwall
TSXV: GTT 15
Au Cu
Weak
Moderate
Strong
• Potassic alteration (potassium feldspar, biotite and magnetite) strongly controls grade
SADDLE NORTH GEOLOGICAL MODEL
Mineralization: Alteration and Grade
TSXV: GTT 16
0.25 % CuEq
0.75 % CuEq
1.5 % CuEq
Lithology
0.25 % CuEq
0.75 % CuEq
1.5 % CuEq
Alteration
3D ViewSADDLE NORTH GEOLOGICAL MODEL
Mineralization: Copper Equivalent Grade Shells
• Sections and 3D
view looking west-
northwest to
northwest:
showing correlation
between copper
equivalent grade and
alteration (left) and
lithology (section at
middle, 3D at top)
TSXV: GTT 17
• Clear association of Cu and Au grades with potassic alteration (potassium
feldspar, magnetite and biotite) and lithology phases
SADDLE NORTH GEOLOGICAL MODEL
Next Steps: From Geological Model to Initial Resource end of Q2
TSXV: GTT 18
Mineral resource = “reasonable prospects of eventual economic extraction”
DESCRIBE
DETERMINING
METHODS• Define methods used
to determine resources
(Ordinary kriging,
inverse distance
squared, polygonal,
etc)
SUMMARIZE
ASSUMPTIONS• Cut-off grade and basis
for determination
• Commodity prices
• Mining and processing
method
• Metallurgical recovery
• Costs related to mining,
processing, and G&A
SUMMARIZE
PARAMETERS✓ Appropriate
geological model for
the deposit type
• Bulk density
• Search distances and
minimum samples per
block
• Interpolation distances
and directions
DISCUSS
MATERIAL
FACTORS• Any material factors
that could affect the
mineral resource
estimates
(Environmental,
permitting, legal, title,
socio-economic,
political, other factors)
Mineral
Resource
Estimate
and
National
Instrument
43-101
Technical
Report
The cut-off grade will reflect the assumed mining method
2020 Exploration
Plan
TSXV: GTT 20
• Porphyry district comparisons show Tatogga upside
• Initial 10,000 m summer diamond drill program
is planned on two high priority target areas:
Saddle and Quash Pass
Red Chris mine
Saddle
TatoggaProperty
Quash Pass
Anomaly ~3km
+0
+1000
+0
+1000
NW SE
IP chargeability
Red Chris
Saddle North
3km
Cadia 5.5km
Gully Zone
Main Zone East Zone OP
East Zone UG
Au ppm
0.5
0.4
0.3
0.2
0.1
0
Ridgeway
Big Cadia
Cadia Quarry Cadia Hill
Little Cadia
Cadia East
N
2020 EXPLORATION PLAN
Tatogga: Potential for a Pipeline
Note: Cadia and Red Chris sections sourced from Newcrest’s Exploration Edge presentation (Jan 20, 2020)
0 500
metres
250
Quash-Pass
Plan MapBase maps:
IP Chargeability,
RMI Magnetic Contours,
50 m Elevation Contours,
& Streams.
Projection: UTM NAD 83
Zone 9
Induced Polarization
Chargeability
> 25.0 mV/V
6.0 mV/V
5.0 mV/V
4.0 mV/V
3.0 mV/V
2.0 mV/V
0.0 mV/V
RMI MagneticsContoured
>500 nT
100 nT
50 nT
0 nT
<-200 nT
TATOGGA PROPERTYSaddle North
SADDLE AREA
• More to be Found
• Saddle North, along strike, at depth,
and in the Poelzer Footwall
• Western Geochem, Central and
Southern IP anomalies
• New and Old Targets
from Surface• TTD064: 7.40 m @
2.28 g/t Au, 0.56 % Cu
1 – 5
5 – 10
10 – 25
25 – 50
50 – 75
75 – 100
100 – 150
>150
Au-in-Soil (ppb)
Collars Legend
2020 Proposed
Past Drilling
TATOGGA PROPERTYSaddle North
0 500
metres
250
Saddle NorthView to South-East
Sections:IP Chargeability,
RTF Magnetics.
Projection: UTM NAD 83
Zone 9
• New and Old Targets
from Surface• TTD064: 7.40 m @
2.28 g/t Au, 0.56 % Cu
Magnetics Inversion
(RTF)
> 500 nT
0 nT
.
< -500 nT
IP Inversion
> 50 mV/v
0
.
0 mV/V
>1..
0.75 g/t..
0.5 g/t ..
0.25 g/t..
0
AuEq (g/t)
SADDLE NORTH
• Porphyry: More to be Found
• Susceptibility constrained
magnetic inversion
• Sulfide constrained chargeability
inversion
Hole
TTD064
6,402,000 mN
43
0,0
00
m
N
43
2,0
00
m
N
43
0,0
00
m
N
43
2,0
00
m
N
Apparent Conductivity (Mobile MT)
> 6.86 mS/m
5.59 mS/m
5.06 mS/m
4.93 mS/m
4.73 mS/m
4.54 mS/m
< 3.19 mS/m
Induced Polarization
Chargeability
> 25.0 mV/V
6.0 mV/V
5.0 mV/V
4.0 mV/V
3.0 mV/V
2.0 mV/V
0.0 mV/V
TATOGGA PROPERTYQuash-Pass
QUASH-PASS
• Multielement & Index Signatures• Large base metal surface
expression
• Multielement zonation and
corridors
0 500
metres
250
Quash-Pass
Plan MapBase maps:
IP Chargeability,
213 Hz MT, 50 m Elevation
Contours, & Streams.
Projection: UTM NAD 83
Zone 9
• Four Distinct Soil Geochemical Targets• Main Trend, Silverhead, Central, &
Valleyside
1 – 5
5 – 10
10 – 25
25 – 50
50 – 75
75 – 100
100 – 150
>150
Au-in-Soil (ppb)
2019 FIELD SEASON
Respect for Community, Land and Wildlife
• Continuing water quality sampling 2017-2020
• Archaeological surveys of drill and camp sites
• Engaging with TCG Lands Director and the Tahltan Heritage Resources Environmental Assessment Team
• Flight management plan developed to minimize disturbance to community and wildlife
SOCIAL RESPONSIBILITY
Working in Tahltan Traditional Territory
TSXV: GTT 24
Tahltan employees
Exploration spending in
contracts with Tahltan or
Tahltan Partner companies
Community Sponsorship and
Communications Agreement
27%
$3M
~$70k
TSXV: GTT 25
9.9%
Newmont (14.9%) participated in 2 strategic
investments in GT Gold in 2019 5:
• C$17.6M closed on May 29
• C$8.3M closed on December 12
8.914.9
11.9
39.6
24.7
% GTT
Ownership1Retail
Ross Beaty
Institutions
Directors &
Management
1. Source: IR Insight, Cap IQ, Morningstar, direct communication with firms
and SEDI filings to April 20, 2020.
2. As at close of day April 24, 2020.
3. As at April 20, 2020.
4. As at December 31, 2019.
5. Refer to press releases dated May 29, 2019 and December 12, 2019.
.
Capitalization and Balance Sheet (C$)
Share Price2 $1.34
Basic Shares Outstanding3 125.9M
Options Outstanding3 10.4M
Basic Market Capitalization $168.7M
Cash4 ~$15.3M
Total Debt $0
Analyst Coverage
• Agentis Capital - Michael Gray
• Cormark Securities – to be confirmed (analyst left firm Apr 2020)
• M Partners - Bereket Berhe
• Paradigm Capital – David Davidson
• PI Financial - Chris Thompson
• Stifel GMP – Tyron Breytenbach (initiated coverage Apr 17, 2020)
INVESTOR INFORMATION
Equity Structure & Analyst Coverage
TSXV: GTT 26
Advancing Saddle North gold-rich copper porphyry discovery
First drill holes (600 m drilled) - 2017
Discovery made (8,200 m drilled) - 2018
Delineation drilling (23,900 m drilled) - 2019
.......................................................... .......
✓ Metallurgical results - 2020
✓ Geological model
Ongoing engagement with Tahltan Nation
Inferred resource
Exploration of new targets
Preliminary Economic Assessment
MILESTONES AHEAD
2020 Working Towards a PEA and Project Pipeline
Q & A
PAUL HARBIDGE, PRESIDENT, CEO AND DIRECTOR
Sunlife Plaza
1100 Melville Street, Suite 610
Vancouver, BC V6E 4A6
236-427-4711
www.gtgoldcorp.ca
Thank you / Meduh