Morrison Copper/Gold Project
Pacific Booker Minerals Inc.
Morrison Copper/Gold/Moly (Silver) Project
pacific booker minerals inc.
Morrison Copper/Gold Project
Forward Looking Statement
This presentation may include forward-looking
statements respecting the strategies. By their
nature, forward-looking statements are subject
to numerous risks and uncertainties that can
significantly affect future results. Actual future
results may differ materially from those
assumed or described in such statements as a
result of the impact of issues, risks and
uncertainties, which the Company may not be
able to control. The Company disclaims any
intention or obligation to update or revise these
forward-looking statements.
pacific booker minerals inc.
Company Profile
Morrison Copper/Gold Project
• Pacific Booker Minerals Inc. (PBM) is a publicly
traded company (TSX-Venture: BKM; NYSE MKT:
PBM)
• PBM owns 100% of the Morrison property located
in Central British Columbia, Canada
• 30,000 tonnes/day open-pit mining and milling
operation for the production of copper/gold
concentrate and molybdenum concentrate
• Completed a full Feasibility Study
pacific booker minerals inc.
Morrison Copper/Gold Project
•
Company Profile
BC Environmental Assessment Certificate Application Review
completed. Application rejected by Provincial Ministers
October 1, 2012 although:
– The Proposed Project does not have the potential for significant
adverse effects, and
– First Nations have been consulted and accommodated appropriately.
•
Draft Federal Comprehensive Study report also concludes that
the Project does not have the potential for significant adverse
effects
•
The company is strongly committed to continue to work
forwards bringing the proposed Morrison Copper/Gold Project
to commercial production
pacific booker minerals inc.
Morrison Copper/Gold Project
Project Location
pacific booker minerals inc.
Morrison Copper/Gold Project
Site Access
• Paved Provincial Highways to the Village
of Granisle
• All-season barge across Babine Lake and a
logging road network that extends to the
Morrison deposit (40km)
• Within 30 km of two former producing
mines, Granisle and Bell
pacific booker minerals inc.
Morrison Copper/Gold Project
Granisle Mine
The Granisle Mine produced 214,000 tonnes of copper, 6,833kg of gold and
69,753kg of silver from 52.7 million tonnes of ore averaging 0.47% copper
pacific booker minerals inc.
Morrison Copper/Gold Project
Bell Mine
The Bell Mine produced 303,277 tonnes of copper, 12,749kg of gold and
27,813kg of silver from 77.2 million tonnes of ore averaging 0.47% Cu
pacific booker minerals inc.
Morrison Copper/Gold Project
Morrison History
• The Morrison was discovered by Noranda
Exploration in 1962
• Noranda drilled 95 holes totaling 13,893m
from 1963 to 1973
• Noranda published two resource estimates
for the Morrison
• The first in 1976 was 86 million tonnes
grading 0.42% copper
• The second in 1992 was an inferred
resource of 190 million tonnes of 0.41%
copper and 0.21 g/t gold
pacific booker minerals inc.
Morrison Copper/Gold Project
Drill Program
Pacific Booker Minerals Inc. commenced
with a 43-101 compliant drill program in
January 1998 to establish grade and
continuity of copper values and gold
grades. PBM drilled 177 holes totaling
31,872.83m for:
– Resource Estimation
– Metallurgical Test-work
– Geotechnical Engineering
– Geochemical
– Condemnation
– Water Monitoring
pacific booker minerals inc.
Morrison Copper/Gold Project
Site Arrangement
pacific booker minerals inc.
Resource Estimate
Morrison Copper/Gold Project
Measured + Indicated
Inferred
Average Grade
Average Grade
Cut-off
% Eq
Cu
Tonnes>
Cut-off
Cu EQ
(%)
Cu (%)
Au
(g/t)
Mo
(%)
Tonnes>
Cut-off
Cu EQ
(%)
Cu (%)
Au
(g/t)
Mo
(%)
0.15
281,652,590
0.40
0.34
0.17
0.005
87,806,392
0.38
0.33
0.16
0.004
0.20
265,954,503
0.41
0.35
0.17
0.005
81,798,181
0.40
0.34
0.17
0.005
0.25
238,475,426
0.44
0.37
0.18
0.005
61,661,854
0.45
0.38
0.19
0.004
0.30
206,869,448
0.46
0.39
0.20
0.005
56,524,341
0.47
0.40
0.21
0.005
0.35
170,772,241
0.49
0.42
0.21
0.005
47,875,646
0.50
0.42
0.22
0.005
0.40
133,351,540
0.52
0.44
0.22
0.005
38,587,285
0.53
0.45
0.23
0.005
•CuEq=Cu+Au*0.303+Mo*3.18
pacific booker minerals inc.
Metallurgy
Morrison Copper/Gold Project
• Metallurgy is straightforward and good recoveries
and acceptable concentrates can be achieved
• Metallurgical recoveries would be very similar to
former nearby Bell Mine.
• Metallurgical Test-work results:
– IME Inc. - 88.4% copper, 63.0% gold
– PRA Ltd. - 85.7% copper, 59.7% gold
– SGS Canada - 84.0% copper, 59.0% gold,
50.0% Molybdenum; 26.5% concentrate grade
pacific booker minerals inc.
Morrison Copper/Gold Project
Processing
• The treatment process will be a conventional
crushing, grinding and flotation system
• High Pressure Grinding Rolls (HPGR) will be
utilized to reduce Power and Consumables costs
• Production of approximately 135,000 to 160,000
tonnes of concentrate per year containing copper,
gold and molybdenum
pacific booker minerals inc.
Morrison Copper/Gold Project
HPGR
pacific booker minerals inc.
Mine Plan
Morrison Copper/Gold Project
• Development of the open pit is planned as a fourphase mining operation utilizing conventional
truck and shovel equipment
• Mining methods will incorporate drilling, blasting,
loading and haulage
• Planned production rate is 30,000 t/d ore
pacific booker minerals inc.
Mineable Reserve
Morrison Copper/Gold Project
The total mineable reserve included in the measured and
indicated resource, classified as proven and probable, at Net
Smelter Return (NSR) cut-off-value of $CDN5.60/t, is 224.25Mt
with an average grade of 0.330% Cu, 0.163g/t Au and 0.004%
Mo.
Cut-off $5.60 NSR
ROM
Cu
Au
Mo
TOTAL
(TONNES)
%
g/t
%
Proven
115,121,000
0.355
0.173
0.004
Probable
109,130,000
0.304
0.152
0.004
Subtotal
224,251,000
0.330
0.163
0.004
Inferred
7,381,000
0.225
0.102
0.003
pacific booker minerals inc.
Feasibility Study Results
Morrison Copper/Gold Project
•
The mineable reserve is 224.25 Mt;
•
The waste total is 184.12 Mt for a strip ratio of 0.82:1;
•
Recoveries are Cu 84.0%, 56.0% Au and 50.0% Mo.
•
Recovered metal is 1.37 billion lbs (625,000 tonnes) Cu, 658,090 oz (25
tonnes) Au and 10.05 million lbs (4,559 tonnes) Mo;
•
Mine life of 21 years;
•
Capital cost is estimated at CDN$516.68 million (including a CDN$59.92
million contingency allocation).
•
A projected exchange rate of C$1.00/ US$0.87;
•
Operating cost of CDN$8.15 per tonne milled;
•
Pre-Income Tax Internal Rate of Return (IRR) of 20.05%, based on
metal prices of (four year trailing average as of January 12, 2009) Cu
$2.75, Au $658.32 and Mo $29.23;
•
Net Present Value (NPV) at 8.0% discount rate is CDN$495.9M; and
•
Payback period on capital is 4.2 years.
pacific booker minerals inc.
Morrison Copper/Gold Project
Feasibility Study Results
Note: Silver was not included in the
financial analysis; however, there is an
opportunity
for
improved
economic
performance if silver credits are received
from the treatment and refining of the
copper concentrate.
Metallurgical testwork to date has reported silver present in
the concentrate ranging from 65.3g/t to
100g/t.
pacific booker minerals inc.
Morrison Copper/Gold Project
Infrastructure
The Project has the advantage of existing regional
infrastructure in place to service the region:
– Road network
– Nearby electrical power 25 km from the Project
site
– Full service town (Granisle) within daily
commuting distance from the Project site
– Deep-sea shipping terminal at the Port of
Stewart
pacific booker minerals inc.
Morrison Copper/Gold Project
Hagan Forest Service Road
pacific booker minerals inc.
Morrison Copper/Gold Project
Electrical Power Supply
pacific booker minerals inc.
Morrison Copper/Gold Project
Village of Granisle
pacific booker minerals inc.
Morrison Copper/Gold Project
Environmental
The Environmental Assessment Certificate is required
to apply for a Mining Permit for the construction,
operation and maintenance, decommissioning and
reclamation of the proposed 30,000 tonnes/day
open-pit mine
• A number of Licences and Permits accepted for
Concurrent Review
• Federal Comprehensive Study Report completed
• Provincial and Federal Review harmonized to
ensure joint steps are undertaken consistent with
the Canada-British Columbia Agreement for
Environmental Assessment
pacific booker minerals inc.
Morrison Copper/Gold Project
•
Environmental
BC Environmental Assessment Certificate Application Review
completed. Application rejected by Provincial Ministers
October 1, 2012 although:
– The Proposed Project does not have the potential for significant
adverse effects, and
– First Nations have been consulted and accommodated appropriately.
•
Draft Federal Comprehensive Study report also concludes that
the Project does not have the potential for significant adverse
effects
•
The company is strongly committed to continue to work
forwards bringing the proposed Morrison Copper/Gold Project
to commercial production
pacific booker minerals inc.
Pre- Production
Morrison Copper/Gold Project
During the review and in anticipation of issuance of
an Environmental Assessment Certificate, PBM
intends to:
• Finalize our contracting strategy for Pre-production;
• Tender Pre-Production Contracts (EPCM or EPC)
• Procurement including ordering long lead time items
(i.e. HPGR, Ball Mills, etc);
• Detailed Engineering and Design; and
• Site Engineering Survey
pacific booker minerals inc.
Morrison Copper/Gold Project
Pre- Production
Upon issuance of an Environmental Assessment Certificate
and Federal authorizations, the Company may proceed
with construction commencing September 2013:
• Construction of new 25 km 138kV overhead power
line from the existing former Bell mine site to the
proposed Morrison Mine Site substation;
• Clearing of timber from the tailings storage facility,
plant site, waste storage dump, on-site road
corridors, on-site pipeline and power line corridors;
and
• On-site road construction between existing Forest
Service Road and proposed Plant Site
• Process Plant, etc.
pacific booker minerals inc.
Opportunities
Morrison Copper/Gold Project
• Reduced operating costs
– Reagents, diesel, road transportation, ocean freight,
maintenance supplies, treatment and refining charges
• Reduced Capital Costs
– Costs obtained at peak of price cycle
•
•
•
•
•
Lower strip ratio (ie better ore grades)
Pilot Plant Tests – improve recoveries
Revenue from Silver
LNG (financial and environmental benefit)
Revised closure plan (ie eliminate progressive closure,
deferred water discharge until pit full, optimized water
handling and treatment, metal recovery from water
prior to discharge
• Accelerated MLARD
pacific booker minerals inc.
Project Summary
Morrison Copper/Gold Project
• Ore production rate of 30,000 tonnes / day
• The total mineable reserve is 224.25Mt with an
average grade of 0.330% Cu, 0.163g/t Au and
0.004% Mo
• Recovered metal is 1.37 billion lbs (625,000
tonnes) Cu, 658,090 oz (25 tonnes) Au and 10.05
million lbs (4,559 tonnes) Mo;
• Mine life is 21 years
• Proposed Construction Date is 2013
• Proposed Start of Operation is 2015
pacific booker minerals inc.
Project Advantages
Morrison Copper/Gold Project
• Gold, Copper, Molybdenum, (Silver) Resource
• Excellent access and regional infrastructure in
place
• Deep-sea shipping terminal, road network, nearby
electrical power (25km), full service town
• Low operating cost
• Low capitalization
• Opportunities for improved economic performance
• Shares Outstanding - 12.2 Million
• Shares Fully Diluted - 15.0 Million
• No Debt
pacific booker minerals inc.
Pre-Tax Financial Model
Morrison Copper/Gold Project
Discount Rate 8%
Discount Rate 5%
Cu
$/lb
2.75
Cu
$/lb
2.75
Au
$/troy oz
658.32
Au
$/troy oz
658.32
Mo
$/lb
29.23
Mo
$/lb
29.23
Ag
$/troy oz
0
Ag
$/troy oz
0
Ag
$/troy oz
30
Ag
$/troy oz
30
IRR
20.06%
IRR
20.06%
NPV
$496 M
NPV
$790M
IRR
21.87%
IRR
21.87%
NPV
$583 M
NPV
$906M
pacific booker minerals inc.
Pre-Tax Financial Model
Morrison Copper/Gold Project
Discount Rate
8%
Discount Rate
5%
Cu
$/lb
3
Cu
$/lb
3
Au
$/troy oz
900
Au
$/troy oz
900
Mo
$/lb
16
Mo
$/lb
16
Ag
$/troy oz
0
Ag
$/troy oz
0
Ag
$/troy oz
30
Ag
$/troy oz
30
IRR
23.99%
IRR
23.99%
NPV
$684M
NPV
$1,039M
IRR
25.70%
IRR
25.70%
NPV
$771M
NPV
$1,155 M
pacific booker minerals inc.
Pre-Tax Financial Model
Morrison Copper/Gold Project
Discount Rate
8%
Discount Rate
5%
Cu
$/lb
3.25
Cu
$/lb
3.25
Au
$/troy oz
1200
Au
$/troy oz
1200
Mo
$/lb
16
Mo
$/lb
16
Ag
$/troy oz
0
Ag
$/troy oz
0
Ag
$/troy oz
30
Ag
$/troy oz
30
IRR
29.01%
IRR
29.01%
NPV
$942M
NPV
$1,381M
IRR
30.61%
IRR
30.61%
NPV
$1,029M
NPV
$1,498 M
pacific booker minerals inc.
Pre-Tax Financial Model
Morrison Copper/Gold Project
Discount Rate
8%
Discount Rate
5%
Cu
$/lb
3.5
Cu
$/lb
3.5
Au
$/troy oz
1500
Au
$/troy oz
1500
Mo
$/lb
16
Mo
$/lb
16
Ag
$/troy oz
0
Ag
$/troy oz
0
Ag
$/troy oz
30
Ag
$/troy oz
30
IRR
33.75%
IRR
33.75%
NPV
$1,199M
NPV
$1,724M
IRR
35.26%
IRR
35.26%
NPV
$1,287
NPV
$1,841 M
pacific booker minerals inc.
Market
Morrison Copper/Gold Project
•Exchanges -
TSX-V (BKM)
NYSE MKT(PBM)
•Shares Outstanding -
12.2 M
•Shares Diluted -
15.0 M
•Stock price -
$5.50
•Market Cap -
$67 M
•No Debt
pacific booker minerals inc.
Morrison Copper/Gold Project
Office:
Contact Information
#1702-1166 Alberni Street
Vancouver, B.C. V6E 3Z3
Phone:
604-681-8556
Fax:
604-687-5995
Toll Free:
1-800-747-9911
US Toll Free: 1-800-234-3680
Website: www.pacificbooker.com
pacific booker minerals inc.
Morrison Copper/Gold Project
Thank you
pacific booker minerals inc.