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i The Oropesa Tin Project

November 2012
Forward Looking Statements
This presentation contains certain “forward-looking statements” and “forward-looking information” under applicable securities
laws concerning the business, operations and financial performance and condition of Eurotin Inc. (“Eurotin”). Except for
statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward-looking
statements include, but are not limited to, statements with respect to the estimation of mineral reserves and resources, the
realisation of mineral reserve estimate, mine life estimation, permitting timelines, the timing of future production, capital,
operating and exploration expenditures, costs and timing of the development of new deposits, success of exploration activities,
requirements for additional capital, government regulation of mining operations and environmental risks. Forward-looking
statements are frequently characterized by words such as “plan”, “except”, “project”, “intend”, “believe”, “anticipate”,
“estimate”, and other similar words, or statements that certain events or conditions “may” or “will” occur.

Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and
are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected in the forward-looking statements, as well as changes in
market conditions and other risk factors. Although Eurotin has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in forward-looking statements, there may be other factors
that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-
looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Eurotin undertakes no obligation to update forward-looking statements if circumstances or management’s
estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking statements.

Much of the technical information on the Oropesa project, contained in the following presentation, has been derived from the
NI 43-101 ‘Technical Report for the Oropesa Property, Cordoba Province, Region of Andalucia, Spain’ dated August 16th 2011
written by Qualified Person James G Burns P.Eng.

Peter Miller B.Sc (Geol), MBA, C.Sci – a Qualified Person, director and insider of the Company – and Victor Guerrero Merino
Euro.Geol are responsible for geological interpretation at Eurotin’s Spanish tin projects. All assay results reported here were
undertaken using lithium metaborate fusion methodology, using XRF-10 analysis, in the laboratories of ALS Chemex in
Vancouver. The drill core samples were prepared for assay in the facilities of ALS Chemex in Seville, Spain and were
collected and processed in a secure environment under the supervision of Qualified Person and independent geologist Victor
Guerrero Merino Euro.Geol .
Eurotin Corporate Structure
Eurotin Corporate Structure
Share Structure
Issued: 79,641,760
Warrants: 14,015,625
Eurotin Corporate Structure

Share Structure Eurotin Inc.

Options: 5,406,250
79,641,760 Canadian Public Company
Diluted: 99,063,635
Stock Options: 5,406,250 Stannico Resources Inc.
Eurotin Inc.

Fully Diluted: 99,063,635 Canadian Holding Company

Private Spanish Company Private Spanish Company

Oropesa Tin Project Santa Maria Tin Project

Earn in to a 96% Equity Interest Earn in to a 85% Direct Interest

MESPA has earned into a 50% interest in the Oropesa Project and will earn another
. by placing it into production. All tin production will be subject to a 1.35% NSR.
*Minas de Estaño de España SLU ** Minas de Estaño de Extremadura SLU
Summarising the Global Tin Market
1. The long term growth trend for tin is ~1.96%pa.
2. Despite the global economic slowdown, the tin
market remains in a state of supply deficit.
3. Global tin stocks are ~6 weeks supply and falling.
4. Without new mines, the supply deficit can be
The Tin Market

expected to grow to 60-75,000tpy by 2017/18.

5. The combined output potential of all known tin
projects is insufficient to plug this supply deficit. Indonesian Tin in Concentrate Output (t)

6. Chinese tin mine output peaked 10 years ago. 140,000


7. Indonesia, the world’s largest tin miner, faces 100,000

declining grades and falling production. 60,000
8. The San Rafael mine in Peru closes in 2017 – a 20,000
loss of 30/35,000tpy, or ~10% of global output. 1
2004 2 2006
3 4 2008
5 6 2010
7 8 2012e

9. Tin recycling plugged the recent supply gap, but Tin Usage

this has now peaked at 60-65,000tpy. Chinese Mined Tin

Output and Usage

10. New uses for tin will largely offset increased Mined Tin

efficiencies of use in current technologies.

11. The current price of ~$20,000/t is insufficient to
justify the construction of new tin mines.
Discussion on New Sources of Tin Supply
Best described by the expression: “ There is no low hanging fruit left to find.”
1. Tin has been used by man for over 4,000 years.

2. Historically, tin deposits have been relatively easy to find due to cassiterite’s
(SnO2) resistance to weathering and concentration in alluvial deposits.
The Tin Market

3. It is highly unlikely there are any 30/35,000tpy San Rafael tin mines left to find.

4. Almost all known tin projects will require a price of at least $25-30,000/t before
they can realistically expect to receive mine construction funding.

5. There are no easy, large, tin projects known in the world today; they all have some
challenges, usually consisting of one or more of the following:
a) Location – such as host country’s politics; also fiscal regimes & royalties.
b) Location – actual, or perceived, environmental concerns
c) Location – distance from markets and/or infrastructure.
d) Metallurgy – complex ores, unfavourable stannite/cassiterite ratios.
e) Grades – too low to justify exploitation at current metal prices.
f) Geology – narrow or complex structures, discontinuous ore zones.
g) Size – too small to be economic, or attract investment interest.
h) Other Metals – Reliance on these can create investor perception problems.
Oropesa - Location

The Oropesa Tin

Introduction to Oropesa
 Location: North west Andalucia in southern Spain.

 Spain: A pro-mining country, with an attractive fiscal regime. Also legal rights of
temporary occupation and expropriation of surface rights by miners.
Oropesa - Introduction

 Permitting Process: Comparatively straight forward, supported by watertight

security of tenure over title.

 Infrastructure: Excellent – Easy access (3kms from tarred road), plus abundant
nearby (~11kms) water and electricity.

 NIMBY: Low hills hide Oropesa from sight from nearest roads and villages.

 Local Attitude: Enthusiastic - Universal support to date.

 Workforce: Abundant, skilled – in

area of ~30% unemployment.

 Climate: Excellent, Mediterranean type.

Hot dry summers and cool wet winters.

 Major Andalucian Base Metal Mines:

Aguas Teñidas (Trafigura) : 2.0M.tpy.
Cobre Las Cruces (Inmet): 1.0M.tpy.
Oropesa’s Drilling Programs 1
Eurotin’s drilling strategy has initially been one of defining a bulk mineable, low cost,
open pit resource. This meant targeting thick medium grade zones, as opposed to
narrower higher grade zones. As the table below shows, the 200 hole drill program*
recorded 263 intercepts with an average grade of 1.12% tin.
Oropesa – Drill Programs

Oropesa – Plan of Drill Intercepts of +0.5% Sn

Highlights of Oropesa’s Drilling Program*
Hole # From (m) To (m) Width (m) Tin (%)
ORPC 2B 25.1 43.1 18.0 1.83%
ORPD 51 128.1 138.3 10.2 2.36%
ORPD 54 117.6 131.4 13.8 1.15%
ORPD 61 44.0 55.6 11.6 1.80%
ORPD 76 116.3 136.6 20.3 1.48%
ORPD 81 71.0 94.4 23.4 1.49%
ORPD 121 246.7 274.9 29.2 0.82%
ORPD 128 97.0 113.8 16.8 1.09%
ORPD 142 85.7 111.4 25.7 0.85%
ORPD 159 178.0 209.2 31.2 0.99%
ORPDM 4 120.2 141.2 21.0 1.07%

All Drill Intercepts*

Cutoff Grade No. of Intercepts Av. Thickness (m) Total Length (m) Tin Grade (%)
0.20% Sn 252 9.1 2,300.3 0.59%
0.35% Sn 251 4.3 1,070.0 0.97%
0.50% Sn 263 3.2 851.5 1.12%

All Drill Intercepts of +4 Metres*

Cutoff Grade No. of Intercepts Av. Thickness (m) Total Length (m) Tin Grade (%)
0.20% Sn 184 11.7 2,161.6 0.58%
0.35% Sn 96 8.5 811.9 1.01%
0.50% Sn 70 7.6 532.4 1.25%
* Excludes all Eurotin holes drilled NNE ‘down structure’, including ORPC 2: 107.5m @ 1.71% Sn
Oropesa’s Drilling Programs 2
Eurotin’s drilling programs at Oropesa began in late 2010 and so far has demonstrated
continuous tin mineralisation (shown in red) along a length of 1,400 metres. Drill
Oropesa – Drill Programs

holes have rarely exceeded a vertical depth of 225 metres.

Oropesa Drilling History*

Name No. Holes Metres Drilled Metres Assayed

IGME 32 7,147 1,146
Eurotin 211 45,062 12,406
Oropesa Line 3 – Simplified Cross Section

Line 3 Significant Drill Results

Oropesa - Geology

ORPD 75 196.9 9.4 1.00%

ORPD 28 141.8 29.6 0.63%
ORPD 51 128.1 10.2 2.31%
ORPD 57 104.3 5.6 0.96%
133.6 5.1 1.34%
ORPD 54 83.7 7.4 1.72%
117.6 13.8 1.15%
ORPD 60 55.9 25.7 0.91%
97.1 16.6 0.68%
Oropesa’s Unique Mineralisation
1. Most hard rock tin deposits are
relatively narrow (1-5m thick), with S N
occasional much wider dilation zones.
2. Most tin mineralisation can be ORPD 115
followed down to the source granite. ORPM 4
Oropesa - Geology

3. The tin mineralisation event is usually

much younger than its host rocks.
4. Most tin deposits are found in the form
of true veins (including greisen and
sheeted veins), skarns, pegmatites,
breccia pipes and in limestone
replacement zones.
5. Most are associated with the fluorine
minerals tourmaline and/or topaz.
None of the above apply at Oropesa.
At the time of undertaking the first Hole No. From Width Grade
resource calculations, a geological model ORPD 115 106.3m 9.2m 0.38%

capable of fully explaining Oropesa’s 170.1m 8.2m 0.84%

geology was not yet available. Then the ORPM 4 120.2m 21.0m 1.07%
metallurgical hole ORPM 4 was twinned 146.3m 9.0m 1.52%
with ORPD 115 – see right.
Oropesa Line 3 – Simplified Cross Section
The Concept of a Recumbent Fold

High Grade >0.5% Sn
Oropesa - Geology

Low Grade <0.5% Sn


Scale in Metres

0 50
Idealised Cross Section – Schematic of a
Mineralised Recumbent Fold at Oropesa
High Grade >0.5% Sn
Low Grade <0.5% Sn
These recumbent fold Greywacke
Oropesa - Geology

structures can be followed

along the entire length of
the Oropesa deposit.

Recumbent Fold in Cliff Face

Scale in Metres

0 50
N/S Faulting at Oropresa
The 1,400m long Oropesa tin Plan Section of Oropesa Tin Deposit
deposit is cut by a series of N/S
The correct interpretation of the
effect of these faults on recumbent
Oropesa - Faulting

fold structures has proven to be a

challenging task in constructing
mineral resource models.

X-Section Along Oropesa

Oropesa - Resource Oropesa Line 3 – ‘New’ & ‘Old’ Resource

In the X-section shown above of Line 3, the purple area represents the new
interpretation, currently under construction, while the blue represents the
previous one announced on October 9, 2012.
Oropesa’s First Open Pit Resource*
Cutoff Grade Tonnes - Mineralisation Tonnes – Contained Tin Tin Grade (%)
0.10% Sn 17,785,408 51,365 0.29%
0.20% Sn 11,740,307 42,474 0.36%
0.30% Sn 5,786,638 27,480 0.48%
0.40% Sn 2,972,388 17,889 0.60%
Oropesa - Resource

0.50% Sn 1,723,835 12,404 0.72%

*For further details – see the Company’s press release of October 9, 2012.

All Drill Intercepts

Cutoff Grade No. of Intercepts Av. Thickness (m) Total Length (m) Tin Grade (%)
0.20% Sn 252 9.1 2,300.3 0.59%
0.35% Sn 251 4.3 1,070.0 0.97%
0.50% Sn 263 3.2 851.5 1.12%

 When viewed against the average drill result grades, using the same cutoffs, the
resource grades and higher grade tonnages are disappointing. This has prompted a
structural re-interpretation of the Oropesa deposit’s mineralisation.
 This re-interpretation is an on going process and new wireframes are now under
construction, which will more accurately reflect the shape, and therefore the tonnage
and grades of the deposit’s mineralisation.
 The current geological model does not take into account any potential high grade
structures, consequently the high grade intercepts are modelled as isolated
occurrences within the overall mineralised domains.
Oropesa’s Styles of Tin Mineralisation
There are two distinct types of tin mineralisation at Oropesa:
Mineralisation Type Tin Grade Parameters Tin Grade - Typical SG/Density Thickness - Typical
Primary 0.5-5.0% 0.8-1.5% 2.8-3.5 3-12 metres
Oropesa - Mineralisation

Replacement* 0.1-0.6% 0.3-0.4% 2.6-2.8 2-25 metres

Item Primary Replacement

Cassiterite Visible Not Visible
Stannite Negligible Low
Sulphides 15-30% 5-15%
Other Metals Cu, Zn & Ag Cu, Zn & Ag
Host Rock Various Greywackes
Tin Source Deep Granite Primary Ores

Thin Section - Cassiterite Crystals – ORP 4 @ 124 metres

Scale in Microns

0 1,000

ORPC-1A at 233.40m @ 0.35% Sn

Oropesa – Local Exploration Potential
 The Oropesa deposit – shown in red - is interpreted as being a small part of a newly
discovered Tin District.
 The distribution of tin anomalies, see below, found in the SSE flowing streams,
indicates tin mineralisation extends to both the west and east of the known Oropesa
Oropesa - Exploration

 At least one other type of tin deposit is known at Oropesa: Adjacent to the
intersection of a major fault and some N/S mineralised structures, as demonstrated
by these drill intercepts beneath La Grana hill:
GR 10: 6m @ 4.03% Sn*
GR 10: 2m @ 2.10% Sn*
GR 13: 2m @ 1.64% Sn*
La Grana Hill
* Drilled by IGME in the late 1980s.
No Sampling

 In a typical Tin District,

economic deposits are
found in a variety of
geological environments.
 At Oropesa, no typical vein
structures leading down to
the source granite have yet
been discovered.
Oropesa – Regional Exploration Potential
Regional stream sediment sampling, undertaken by both Eurotin and IGME, indicates
that hard rock tin mineralisation should be found over an area of ~30km2.
Eurotins’s four investigation permits, shown below, have a combined area of 65.1km2.
Oropesa - Exploration
Oropesa – The Road to Pre-Feasibility
Eurotin’s current corporate goal is to demonstrate the economic viability of an open
pit tin mining operation at Oropesa. The pre-feasibility part is a 12-15 month process
which will require:
Oropesa – Pre-Feasibility

 A 30 hole infill drill program – see bottom right - to better define, and increase,
the current resource.

 An additional 40-50 drill hole program designed to further expand the resource,
based on:
 i) the results obtained from the Laabove
Grana Hill
infill program, and
 ii) the soil No
program currently underway.
No Sampling

 Complete the Stage 2

metallurgical studies and
preliminary flow sheet.

 Preliminary engineering

 Building a 2tph pilot plant.

 Complete base line studies.