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    NCM   AU000000NCM7

NEWCREST MINING LIMITED

(NCM)
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Newcrest Mining Limited - Quarterly Exploration Report for the Three Months Ended 30 June 2021

07/21/2021 | 07:55pm EDT

Highlights

  • At Red Chris, drilling continues to expand the higher grade mineralisation intersected at East Ridge, with the new discovery adjacent to the East Zone returning the highest grade intercept to date (at East Ridge), supporting the potential for resource growth:
    • RC700 returned 366m @ 1.1g/t Au & 0.93% Cu from 738m, incl. 146m @ 2.1g/t Au & 1.6% Cu from 780m. This hole is the highest grade intercept to date (at East Ridge) and located 100m above RC688 (previously reported).
    • East Ridge is located outside of Newcrest's Red Chris initial Mineral Resource estimate. Mineralisation remains open in all directions and drilling to define the extent is ongoing.
  • At Havieron, growth drilling continues to confirm extensions to the high grade South East Crescent and the Northern Breccia mineralisation outside of the initial Inferred Mineral Resource estimate:
    • HAD133^^ located in the South East Crescent returned 85m @ 11g/t Au & 0.29% Cu from 1,345m, including 13m @ 32g/t Au & 0.46% Cu from 1,363m, and including 14.5m @ 32g/t Au & 0.33% Cu from 1,396.5m.
    • The high grade zone within the South East Crescent zone remains open at depth.
    • HAD138 from the Northern Breccia returned 84.5m @ 2.0 g/t Au & 0.05% Cu from 683m, including a high grade zone of 12.7m @ 6.0 g/t Au & 0.01% Cu from 685.3m.

Melbourne, Australia--(Newsfile Corp. - July 21, 2021) - Newcrest Mining Limited (ASX: NCM) (TSX: NCM) Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said, "Our East Ridge discovery continues to impress, with drilling during the quarter returning the highest grade intercept reported in this zone. Drilling at East Ridge has extended the higher grade mineralisation across the eastern end of the porphyry corridor which further highlights the potential for resource growth over time. Our extensive growth drilling program at Havieron has identified several exciting results from the South East Crescent Zone which has extended the high grade mineralisation beneath the initial Inferred Mineral Resource estimate."

Red Chris - Significant results since the March 2021 Quarterly Exploration Report(1):

  • RC683^^
    • 300m @ 0.41g/t Au & 0.51% Cu from 260m
    • including 114m @ 0.67g/t Au & 0.85% Cu from 390m
    • including 22m @ 1.1g/t Au & 1.4% Cu from 464m
  • RC684^^
    • 252m @ 0.46g/t Au & 0.53% Cu from 814m
    • including 98m @ 0.85g/t Au & 0.86% Cu from 962m
    • including 16m @ 1.2g/t Au & 1.2% Cu from 970m
  • RC688^^:
    • 344m @ 0.70g/t Au & 0.75% Cu from 776m
    • including 170m @ 1.1g/t Au & 1.1% Cu from 892m
    • including 78m @ 1.1g/t Au & 1.3% Cu from 894m
  • RC700:
    • 366m @ 1.1g/t Au & 0.93% Cu from 738m
    • including 226m @ 1.6g/t Au & 1.3% Cu from 774m
    • including 146m @ 2.1g/t Au & 1.6% Cu from 780m

Havieron - Significant growth drilling results since the March 2021 Quarterly Exploration Report(2):

  • HAD086W1^^
    • 99.7m @ 2.5g/t Au & 0.85% Cu from 1,308m
    • including 50.4m @ 4.3g/t Au & 1.6% Cu from 1,313.6m
  • HAD133^^
    • 85m @ 11g/t Au & 0.29% Cu from 1,345m
    • including 13m @ 32g/t Au & 0.46% Cu from 1,363m
    • including 14.5m @ 32g/t Au & 0.33% Cu from 1,396.5m
  • HAD138
    • 84.5m @ 2.0g/t Au & 0.05% Cu from 683m
    • Including 12.7m @ 6.0g/t Au & 0.01% Cu from 685.3m

Red Chris, British Columbia, Canada(2)

Red Chris is a joint venture between Newcrest (70%) and Imperial Metals Corporation (30%). Newcrest acquired its interest in, and operatorship of, Red Chris on 15 August 2019.

The Brownfields Exploration program is focused on the discovery of additional zones of higher grade mineralisation within the Red Chris porphyry corridor, including targets outside of Newcrest's initial Mineral Resource estimate. During the period, there were up to eight diamond drill rigs in operation. A further 30,055m of drilling has been completed from 26 drill holes, with all drill holes intersecting mineralisation (except six which were dedicated geotechnical holes). This contributed to a total of 166,686m of drilling from 137 drill holes since Newcrest acquired its interest in the joint venture.

At East Ridge, located adjacent to the East Zone, drilling is ongoing with ten holes completed and three in progress. The follow up drilling is being completed on a nominal 100 x 100m grid to determine the footprint of the mineralisation and demonstrate the continuity of the higher grade mineralisation.

Newcrest has discovered a new zone of higher grade mineralisation, with previously reported hole RC678^^ returning 198m @ 0.89g/t Au & 0.83% Cu from 800m, including 76m @ 1.8g/t Au and 1.5% Cu from 908m. The style of mineralisation and grade tenor is similar to that seen in the high grade pods from the East Zone.

Results from follow-up drill hole RC688 (drilled 100m east of RC678) returned 344m^^ @ 0.70g/t Au & 0.75% Cu from 776m including 170m @ 1.1g/t Au & 1.1% Cu from 892m. This hole demonstrates the continuity of the East Ridge zone over 100m horizontally. Results from drill hole RC700 drilled 100m above RC688 returned 366m @ 1.1g/t Au & 0.93% Cu from 738m, incl. 146m @ 2.1g/t Au & 1.6% Cu from 780m. This is the highest grade intercept returned from East Ridge and is comparable to intercepts returned in the high grade pods from the East Zone (previously reported).

Final results from follow-up drill hole RC684 drilled 100m down dip of RC678 returned 252m^^ @ 0.46g/t Au & 0.53% Cu from 814m, including 98m^^ @ 0.85g/t Au & 0.86% Cu from 962m. Results from follow-up drill hole RC692 drilled 100m down dip of RC684 returned 274m @ 0.40g/t Au & 0.41% Cu from 1,090m, incl. 94m @ 0.61g/t Au & 0.49% Cu from 1,242m. These holes demonstrate the continuity of the East Ridge zone over 200m vertically.

East Ridge is located 300m east of East Zone and is outside of Newcrest's initial Red Chris Mineral Resource estimate, supporting the potential for resource growth over time. Mineralisation is open in all directions and extends the eastern side of the porphyry corridor as shown in Figures 1 and 2. Follow-up drilling is in progress to further define the extent and continuity of this high grade mineralisation.

In the Main Zone, drilling has confirmed the potential for further higher grade mineralisation which could support additional mining fronts, beneath and to the south west of the open pit. Results from RC679 (previously reported), which followed up historic results south west of the Main Zone pit, returned 456m^^ @ 0.37g/t Au & 0.42% Cu from 418m, including 98m^^ @ 0.71g/t Au & 1.0% Cu from 440m. Results from follow-up drill hole RC683 drilled 100m east of RC679 returned 300m^^ @ 0.41g/t Au & 0.51% Cu from 260m, including 114m^^ @ 0.67g/t Au & 0.85% Cu from 390m. This hole demonstrates the continuity of the higher grade mineralisation over 100m horizontally. The mineralisation is located within Newcrest's initial Red Chris Mineral Resource estimate. Drilling to define the extent and continuity of this high grade mineralisation is planned.

Approximately 50,000m of growth-related drilling is planned this calendar year from eight drill rigs.

Refer to Appendix 1 for additional information, and the Drillhole data table for all results reported during the period.

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Figure 1. Schematic plan view map of the Red Chris porphyry corridor spanning East Ridge, East Zone, Main Zone and Gully Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases). 1 g/t AuEq and 2 g/t AuEq shell projections generated from a Leapfrog model. Gold equivalent (AuEq) grade calculated using a copper conversion factor of 1.67 ([gold grade (g/t)] + [copper grade (%) x 1.67]), using US$1,400/oz Au, US$3.40/lb Cu and 100% recovery.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7614/90916_95bb76101468b8dc_003full.jpg

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Figure 2. Long section view of the Red Chris porphyry corridor showing drill hole locations and gold distribution.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7614/90916_95bb76101468b8dc_004full.jpg

Havieron Project, Western Australia(3)

The Havieron Project is operated by Newcrest under a Joint Venture Agreement with Greatland Gold. As announced on 30 November 2020, Newcrest has now met the Stage 3 expenditure requirement (US$45 million) and is entitled to earn an additional 20% joint venture interest, resulting in an overall joint venture interest of 60% (Greatland Gold 40%). Newcrest can earn up to a 70% joint venture interest through total expenditure of US$65 million and the completion of a series of exploration and development milestones (including the delivery of a Pre-Feasibility Study) in a four-stage farm-in over a six year period that commenced in May 2019. Newcrest may acquire an additional 5% interest at the end of the farm-in period at fair market value. The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program, Feasibility Study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer.

The Havieron Project is centred on a deep magnetic anomaly located 45km east of Telfer in the Paterson Province. The deposit is overlain by more than 420m of post mineral Permian cover. Newcrest commenced drilling in May 2019. Drilling activities from 29 drill holes resulted in 25,418m of drilling completed since 31 March 2021. Results from 14 of 29 holes drilled have been received, with 9 holes returning significant assay intercepts in excess of
50 gram metres Au (Au_ppm x length). A total of 184,081m of drilling from 212 drill holes has been completed since Newcrest commenced exploration activity (excluding holes in progress, abandoned holes, or drill holes which have not been sampled).

Drilling in the reporting period was designed to support potential resource growth at the South East Crescent, Northern Breccia and Eastern Breccia. Drilling was also designed to define the Havieron footprint. Drilling completed included:

  • South East Crescent Zone - four drill holes completed, with assay results reported for two drill holes
  • Northern Breccia - 21 drill holes completed, with assay results reported for 12 drill holes
  • Eastern Breccia - four drill holes, all assays pending. These holes are part of the program to extend the Havieron footprint

At the South East Crescent, four drill holes targeting resource extensions on 75m x 75m spacing for up to 200m below the initial Inferred Mineral Resource extents have been completed. Results from two drill holes have been received, with HAD086W1^^ and HAD133^^ extending the high-grade mineralisation ~80m below the base of the Inferred Mineral Resource estimate. These intercepts are also below previously reported hole HAD065W2^^ (120.7m @ 9.3g/t Au & 0.18% Cu from 1,349.3m, including 26.6m @ 34g/t Au & 0.23% Cu from 1,384.4m). Assay results from two further drill holes HAD133W1 and HAD133W2 are pending. Drilling is ongoing to assess the extent of the mineralisation below the South East Crescent Inferred Resource.

Results from HAD086W1 and HAD133 include:

  • HAD086W1^^
    • 99.7m @ 2.5g/t Au & 0.85% Cu from 1,308m
    • including 50.4m @ 4.3g/t Au & 1.6% Cu from 1,313.6m
  • HAD133^^
    • 85m @ 11g/t Au & 0.29% Cu from 1,345m
    • including 13m @ 32g/t Au & 0.46% Cu from 1,363m
    • including 14.5m @ 32g/t Au & 0.33% Cu from 1,396.5m

Three further holes drilled to test lower target positions in the Northern Breccia traversed the South East Crescent Zone within the current Inferred Mineral Resource footprint including HAD097W3^^, HAD097W4^^ and HAD136^^. Results demonstrate good alignment with modelled grade and thickness within the South East Crescent zone which further supports the geological model including continuity of high grade.

Results include:

  • HAD097W3^^
    • 47.8m @ 2.3g/t Au & 0.28% Cu from 620.2m
    • including 28.3m @ 3.8g/t Au & 0.45% Cu from 639.7m
  • HAD097W4
    • 50m @ 1.1g/t Au & 0.04% Cu from 1,051m
    • including 10m @ 2.0g/t Au & 0.04% Cu from 1,081m
  • HAD136^^
    • 55.2m @ 2.5g/t Au & 0.65% Cu from 501m
    • including 24.5m @ 5.4g/t Au & 0.95% Cu from 506.8m

At the Northern Breccia, 21 drill holes have been completed, with results from 12 drill holes reported. Drilling has targeted the Northern Breccia mineralisation footprint on a 75m x 75m target spacing to allow for a full assessment of the potential resource footprint in this zone (previously limited by drill spacing). Drilling has extended the mineralised breccia footprint around the Inferred Mineral Resource extents with reported drill holes supporting extensions to breccia mineralisation. Drilling has confirmed and increased the continuity of mineralisation as a north-west mineralised corridor which has been identified up to 300m in length, and 100m wide, between 4300 - 4100mRL and remains open at depth. Higher grade mineralisation has been identified internal to the mineralised breccia corridor. The results support the potential for incremental resource extensions.

Results include:

  • HAD057W6
    • 25.1 m @ 2.3g/t Au & 0.03% Cu from 1,123.4m
    • including 13.4m @ 4.0g/t Au & 0.06% Cu from 1,127.5m
  • HAD089W1^^
    • 81.3m @ 1.2g/t Au & 0.04% Cu from 1,009.7m
  • HAD136W1
    • 36.2m @ 2.7g/t Au & 0.09% Cu from 988.8m
  • HAD138
    • 84.5m @ 2.0g/t Au & 0.05% Cu from 683m
    • Including 12.7m @ 6.0g/t Au & 0.01% Cu from 685.3m

At the Eastern Breccia four drill holes have been completed, with results from all drill holes pending. Drilling has targeted along strike from prior reported drill holes HAD083 and HAD084, over a strike length of approximately 600m. Drill testing and interpretation of the geological and mineralisation controls of the Eastern Breccia Zone is ongoing.

All drill rigs are currently operational on the growth drilling program, including testing extensions of the South East Crescent Zone below 4,200mRL, extension and definition of the Northern Breccia and associated internal higher-grade zones to support potential expansion of the existing Inferred Mineral Resource. Additionally, drilling programs are focussed on defining the system footprint of the Havieron deposit, including Eastern Breccia.

Refer to Appendix 2 for additional information, and Drillhole data table for all results reported during the period.

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Figure 3. 3D Plan view schematic showing the spatial association of the South East Crescent and Breccia, North West Crescent, Northern Breccia and Eastern Breccia targets.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/7614/90916_95bb76101468b8dc_005full.jpg

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Figure 4. Plan view schematic of a horizontal slice at 4700mRL through the Crescent Sulphide Zone and Breccia-hosted Zones, showing the extents of the 0.5 and 1.0 g/t Au LeapfrogTM grade shells with highlighted newly reported intercepts for this period. Also shown is the Eastern Breccia, Northern Breccia and north-west extensions of known mineralisation outlines projected to the 4700mRL section - drilling is ongoing to confirm the extent of these zones. This diagram highlights >50gram metres intersections drilled during the quarter, refer to inset diagram for relationship to all Havieron drilling.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/7614/90916_95bb76101468b8dc_006full.jpg

Wilki Project, Western Australia

The Wilki Project covers a strategic landholding of ~2,200km2 surrounding the Telfer operation and is also in close proximity to the Havieron Project. Newcrest entered into this exploration farm-in and joint venture agreement with Antipa Minerals Limited on 11 March 2020. Newcrest currently maintains a 9.9% shareholding in Antipa.

During the period, scout reverse circulation drill testing commenced at the Chicken Ranch, Tims Dome and WEM020 targets. Assay results are pending.

Additional drill testing in the next period will focus on the completion of the WEM020 program together with initial holes into the Tyama and WEM004 targets.

Juri Joint Venture, Western Australia

On 30 November 2020, Newcrest announced its entry into the Juri Joint Venture. Juri is a farm-in and joint venture agreement with Greatland Gold with respect to its Black Hills and Paterson Range East projects, located within the Paterson Province approximately 50km from the Telfer operation. The joint venture covers an area of approximately 248km2.

Under the terms of the agreement, Newcrest has been granted an initial 25% joint venture interest with the potential to earn up to a 75% joint venture interest through total expenditure of A$20 million over a two stage earn-in, across a five year period. Greatland Gold will manage the Juri Joint Venture until the end of calendar year 2021, after which Newcrest has the right to be appointed as Manager.

Initial scout drill testing of the Goliath, Outamind and Los Diablos targets in the Paterson Range East area has been completed. Assay results are pending. Subsequent work programs for the next period, including drilling, will focus on the Parlay target within the Black Hills Project.

Tennant East, Northern Territory

Newcrest is the holder of six granted titles as well as seven application areas in the recently recognised Tennant East domain. Initial drill testing on the initial two target areas of Lantern and Sabretooth has been completed with assay results pending.

Nevada, USA

Newcrest recently entered into an option and earn-in agreement with Discovery Harbour Resources Corp. on their Fortuity 89 property located in the Great Basin, Nevada. Fortuity 89 is characterised by limited outcrop in a large gravel covered plain. The limited outcrop is strongly altered, and other indications are consistent with the area having potential for epithermal gold mineralisation. On ground exploration work has commenced with target generation activities including mapping, sampling and geophysical surveys completed.

At the Jarbidge project in north-eastern Nevada, field activities will commence in late July 2021 with field crew and drill rig mobilisation. The Jarbidge district is a low sulfidation epithermal system with several historic workings. Newcrest is targeting high grade veins, with this season's work focusing on drill testing veins identified in outcrop and drilling last year. The planned program currently comprises six holes for ~2,100m.

GJ Project, British Columbia, Canada

At the GJ Project, which is part of the Red Chris joint venture between Newcrest (70%) and Imperial Metals Corporation (30%), Newcrest is planning to test the depth potential of the Donnelly Zone which is part of a 10km porphyry corridor (Groat Stock). An initial program of two holes for 2,500m is planned to commence in the September 2021 quarter.

Central Andes, Northern Chile

In Chile, exploration activity remained suspended during the period due to the COVID-19 pandemic. Newcrest expects to resume field activity in late August 2021.

Northern Andes, Ecuador

In Ecuador, all exploration activity remained suspended due to the COVID-19 pandemic. Newcrest expects to resume field activity in the second half of the 2021 calendar year.

Brownfield Exploration

No significant activity to report.

Appendix 1

Red Chris (70% Newcrest): JORC Table 1
Section 1: Sampling Techniques and Data

CriteriaCommentary
Sampling techniquesCore samples are obtained from core drilling. HQ and NQ diameter diamond core was drilled on a 3, 4.5m or 6m run. Core was cut using an automatic core-cutter and half core sampled at 2m intervals. Cover sequences were not sampled.
Drilling techniquesCore drilling was advanced with HQ3, HQ, NQ3 and NQ diameter coring configuration.

Core from inclined drill holes are oriented on 3, 4.5m or 6m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line.
Drill sample recoveryCore recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller's depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled.

Core recoveries were typically 100%, with isolated zones of lower recovery.
LoggingGeological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled -30,055m in 26 holes- all holes intersected mineralisation except for 2 dedicated geotechnical holes, including orientation of key geological features.

Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements.

Magnetic susceptibility measurements were recorded every metre.

All geological and geotechnical logging was conducted at the Red Chris Mine.

Digital data logging was captured, validated and stored in an acQuire database.

All drill cores were photographed, prior to cutting and/or sampling the core.
Sub-sampling techniques and sample preparationSampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.

Core was cut and sampled at the Red Chris Mine core processing facility. Half core samples were collected in plastic bags together with pre-numbered sample tags and grouped in plastic bags for dispatch to the laboratory. Sample weights typically varied from 5 to 10kg. Sample sizes are considered appropriate for the style of mineralisation. Drill core samples were freighted by road to the laboratory.

Sample preparation was conducted at the independent ISO 9001 certified and ISO 17025 accredited Bureau Veritas Commodities Canada Ltd Laboratory, Vancouver (Bureau Veritas). Samples were dried at 650C, and crushed to 95% passing 4.75 mm, and the split to obtain up to 1kg sub-sample, which was pulverised (using LM2) to produce a pulped product with the minimum standard of 95% passing 106μm.

Duplicate samples were collected from crush and pulp samples at a rate of 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation.

Periodic size checks (1:20) for crush and pulp samples and sample weights are provided by the laboratory and recorded in the acQuire database.
Quality of assay data and laboratory testsAssaying of drill core samples was conducted at Bureau Veritas. All samples were assayed for 59 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method MA250). Gold analyses were determined by 50g fire assay with ICP-ES finish (method FA350). Carbon and Sulphur were determined by Leco (method TC000) and mercury using aqua regia digestion followed by ICP-ES/MS determination (method AQ200).

Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20).

Assays of quality control samples were compared with reference samples in the acQuire database and verified as acceptable prior to use of data from analysed batches.

Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats and grind size results are captured in acQuire database and assessed for accuracy and precision for recent data.

Due to the limited extent of the drilling program to date, extended quality control programs are yet to be undertaken, whereby pulped samples will be submitted to an umpire laboratory and combined with more extensive re-submission programs.

Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved and the database contains no analytical data that has been numerically manipulated.

The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results.
Verification of sampling and assayingSampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core cutting. Corresponding sample numbers matching pre-labelled sample tags are assigned to each interval.

All sampling and assay information were stored in a secure acQuire database with restricted access.

Electronically generated sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the acQuire database.

Assessment of reported significant assay intervals was verified by re-logging of drill core intervals and assessment of high resolution core photography. The verification of significant intersections has been completed by company personnel and the Competent Person/Qualified Person.

No adjustments are made to assay data, and no twinned holes have been completed. Drilling intersects mineralisation at various angles.

There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data.
Location of data pointsDrill collar locations were surveyed using a RTK GPS with GNSS with a stated accuracy of +/- 0.025m.

Drill rig alignment was attained using an electronic azimuth aligner (Reflex TN14 GYROCOMPASS). Downhole survey was collected at 9 to 30m intervals of the drill hole using single shot survey (Reflex EZ-SHOT). At the end of hole, all holes have been surveyed using a continuous gyro survey to surface (Reflex EZ-GYRO).

Topographic control is established from PhotoSat topographic data and derived digital elevation model. The topography is generally low relief to flat, with an average elevation of 1500 m, with several deep creek gullies.

All collar coordinates are provided in the North American Datum (NAD83 Zone 9).
Data spacing and distributionThe drill hole spacing ranges from 100 - 200m in lateral extent within an area of 1.5km2 at the East Ridge, 1.5km2 at the East Zone, 1.5km2 at the Main Zone and 1.5km2 at the Gully Zone.

No sample compositing is applied to samples.
Orientation of data in relation to geological structureDrilling of reported drill holes RC676, RC683, RC684, RC686, RC687, RC688, RC692, RC696 and RC700 are oriented perpendicular to the intrusive complex. The intrusive complex has an east-northeast orientation, with drilling established on a north-northwest orientation.

Drill holes exploring the extents of the East Ridge, East Zone, Main Zone and Gully Zone mineral system intersected moderately dipping volcanic and sedimentary units cut by sub-vertical intrusive lithologies. Steeply dipping mineralised zones with an east-northeast orientation have been interpreted from historic and Newcrest drill holes.
Sample securityThe security of samples is controlled by tracking samples from drill rig to database.

Drill core was delivered from the drill rig to the Red Chris Mine core yard every shift. Geological and geotechnical logging, high resolution core photography and cutting of drill core was undertaken at the Red Chris core processing facility.

Samples were freighted in sealed bags with security tags by road to the laboratory, and in the custody of Newcrest representatives.

Sample numbers are generated from pre-labelled sample tags. All samples are collected in pre-numbered plastic bags. Sample tags are inserted into prenumbered plastic bags together with the sample.

Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advice issued to Newcrest.

Details of all sample movement are recorded in a database table. Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to the laboratory analytical services. Any discrepancies logged at the receipt of samples into the laboratory analytical services are validated.
Audits or reviewsDue to the limited duration of the program, no external audits or reviews have been undertaken.

Internal verification and audit of Newcrest exploration procedures and databases are periodically undertaken.

 

Section 2: Reporting of Exploration Results

CriteriaCommentary
Mineral tenement and land tenure statusRed Chris comprises 77 mineral tenures including five mining leases and is a joint venture between subsidiaries of Newcrest Mining Limited (70%) and Imperial Metals Corporation (30%). Newcrest Red Chris Mining Limited is the operator of Red Chris.

Newcrest Red Chris Mining Limited and the Tahltan Nation (as represented by the Tahltan Central Government, the Tahltan Band and Iskut First Nation) signed an updated Impact, Benefit and Co-Management Agreement (IBCA) covering Red Chris on 15 August 2019.

All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing.
Exploration done by other partiesConwest Exploration Limited, Great Plains Development Co. of Canada, Silver Standard Mines Ltd, Texasgulf Canada Ltd. (formerly Ecstall Mining Limited), American Bullion Minerals Ltd and bcMetals Corporation conducted exploration in the areas between 1956 and 2006.

Imperial Metals Corporation acquired the project in 2007 and completed deeper drilling at the East and Main Zones between 2007 and 2012.
GeologyThe Red Chris Project is located in the Stikine terrane of north-western British Columbia, 80 km south of the town of Dease Lake.

Late Triassic sedimentary and volcanic rocks of the Stuhini Group host a series of Late Triassic to Early Jurassic 204−198 Ma) diorite to quartz monzonite stocks and dykes.

Gold and copper mineralisation at Red Chris consists of vein, disseminated and breccia sulphide typical of porphyry-style mineralisation. Mineralisation is hosted by diorite to quartz monzonite stocks and dykes. The main mineral assemblage contains well developed pyrite-chalcopyrite-bornite sulphide mineral assemblages as vein and breccia infill, and disseminations. The main mineralisation event is associated with biotite and potassium feldspar-magnetite wall rock alteration.
Drill hole informationAs provided.
Data aggregation methodsSignificant assay intercepts are reported as (A) length-weighted averages exceeding 0.1g/t Au greater than or equal to 20m, with less than 10m of consecutive internal dilution; and (B) length-weighted averages exceeding 0.5g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution; and (C) length-weighted averages exceeding 1g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution; (D) length-weighted averages exceeding 5g/t Au greater than or equal to 10m, with less than 10m of consecutive internal dilution; and (E) length-weighted averages exceeding 10g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution. No top cuts are applied to intercept calculations.
Relationship between mineralisation widths and intercept lengthsSignificant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.
DiagramsAs provided.
Balanced reportingThis is the Thirteenth release of Exploration Results for this project made by Newcrest. Previous release dates are 30 January 2020, 11 March 2020, 30 April 2020, 11 June 2020, 23 July 2020, 10 September 2020, 29 October 2020, 10 December 2020, 28 January 2021, 11 March 2021, 29 April 2021, and 10 June 2021.

Earlier reporting of exploration programs conducted by Newcrest and Imperial Metals Corporation have previously been reported. Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.
Other substantive exploration dataNil.
Further workFurther drilling is planned to define the extents of the East Ridge, East Zone and Main Zone.

 

Drillhole data(1)

Red Chris Project, British Columbia, Canada

Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.1ppm (0.1g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Also highlighted are high grade intervals of Au >0.5ppm (0.5g/t Au), Au >1ppm (1g/t Au), Au > 5ppm (5g/t Au), Au >10ppm (10g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 10m. Gold grades are reported to two significant figures. Samples are from core drilling which is HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes.

Hole ID Hole
Type
Easting
(m)
Northing (m) RL (m) Total
Depth
(m)
Azimuth
(GRID)
Dip From
(m)
To
(m)
Interval (m) Au
(ppm)
Cu
(pct)
Cut
off
RC632W DD 452643 6396523 1471 1052 149 -56 Development Hole
RC633W DD 452504 6396348 1496 1109.2 148 -62 Development Hole
RC676^^ DD 452008 6396133 1554 1505.4 145 -59 156 258 102 0.26 0.06 0.1
              incl. 166 176 10 1 0.13 0.5
                288 322 34 0.14 0.05 0.1
                460 486 26 0.11 0.04 0.1
                506 894 388 0.34 0.3 0.1
              incl. 700 712 12 0.52 0.4 0.5
              incl. 856 894 38 0.64 0.51 0.5
                906 964 58 0.31 0.17 0.1
              incl. 950 962 12 0.6 0.2 0.5
                1032 1332 300 0.28 0.27 0.1
              incl. 1060 1080 20 0.55 0.5 0.5
               Incl. 1100 1138 38 0.52 0.46 0.5
                1392 1412 20 0.1 0.15 0.1
RC683^^ DD 451963 6395068 1537 1088.7 328 -59 260 560 300 0.41 0.51 0.1
              incl. 390 504 114 0.67 0.85 0.5
              incl. 464 486 22 1.1 1.4 1
                660 690 30 0.1 0.06 0.1
                826 900 74 0.13 0.1 0.1
                914 1088.45 174.45 0.41 0.18 0.1
RC684^^ DD 453252 6396600 1420 1475.7 147 -63 550 606 56 0.12 0.01 0.1
                748 786 38 0.28 0.34 0.1
                814 1066 252 0.46 0.53 0.1
              incl. 962 1060 98 0.85 0.86 0.5
              incl. 970 986 16 1.2 1.2 1
              incl. 1016 1030 14 1.1 1.1 1
              incl. 1044 1054 10 1.1 1 1
                1360 1382 22 0.11 0.04 0.1
                1394 1420 26 0.11 0.1 0.1
RC685 DD 452533 6396281 1508 1202.3 149.9 -55 Development Hole
RC686^^ DD 451569 6395560 1526 1085 147.9 -59 386 454 68 0.12 0.11 0.1
                522 548 26 0.1 0.03 0.1
                572 600 28 0.12 0.04 0.1
                618 682 64 0.13 0.07 0.1
                822 1020 198 0.29 0.25 0.1
              incl. 990 1002 12 0.59 0.18 0.5
RC687^^ DD 453126 6396509 1445 1480.8 149.8 -58 616 646 30 0.12 0.16 0.1
                714 1030 316 0.26 0.34 0.1
              incl. 786 802 16 0.59 0.66 0.5
                1062 1090 28 0.12 0.21 0.1
                1224 1256 32 0.17 0.02 0.1
                1268 1314 46 0.15 0.02 0.1
                1360 1450 90 0.12 0.02 0.1
RC688^^ DD 453385 6396598 1415 1535.5 146 -61 674 700 26 0.12 0.15 0.1
                726 760 34 0.15 0.14 0.1
                776 1120 344 0.7 0.75 0.1
              incl. 892 1062 170 1.1 1.1 0.5
              incl. 894 972 78 1.1 1.3 1
              incl. 988 1062 74 1.2 0.90 1
              incl. 1080 1104 24 0.74 0.87 0.5
                1132 1214 82 0.18 0.35 0.1
                1244 1272 28 0.13 0.29 0.1
                1320 1352 32 0.10 0.02 0.1
RC689 DD 452677 6396314 1492 827.9 147.5 -57 Development Hole
RC690 DD 452587 6396286 1507 1226.6 148 -60 Development Hole
RC691 DD 452550 6396348 1495 1252.9 148 -60 Development Hole
RC691W DD 452551 6396346 1498 842.2 148 -60 Development Hole
RC692 DD 453147 6396820 1462 1749 148.1 -53 1090 1364 274 0.40 0.41 0.1
              incl. 1100 1110 10 0.54 0.62 0.5
              incl. 1204 1222 18 0.65 0.62 0.5
              incl. 1242 1336 94 0.61 0.49 0.5
                1378 1454 76 0.12 0.17 0.1
                1550 1572 22 0.11 0.08 0.1
RC693 DD 453334 6396606 1416 1212.8 238 -59 Geotechnical Hole - Not Sampled
RC694 DD 452677 6396314 1492 770 147 -54 Development Hole
RC695 DD 452742 6396324 1491 851.5 150 -64 Development Hole
RC696 DD 453126 6396510 1445 1508.1 151 -63 786 844 58 0.16 0.25 0.1
                860 1162 302 0.19 0.29 0.1
                1174 1196 22 0.11 0.29 0.1
                1478 1504 26 0.23 0.04 0.1
RC697 DD 452584 6396356 1492 824.2 147 -57 Development Hole
RC698 DD 453332 6396598 1418 1019.7 200 -71 Geotechnical Hole - Not Sampled
RC699 DD 452539 6395336 1491 101.4 360 -90 Environmental Monitoring Hole - Not Sampled
RC700 DD 453422 6396505 1417 1334 145 -61 738 1104 366 1.1 0.93 0.1
              incl. 774 1000 226 1.6 1.3 0.5
              incl. 780 926 146 2.1 1.6 1
                1152 1172 20 0.10 0.28 0.1
RC701 DD 453530 6397490 1469 2135.3 145 -45 Assays Pending
RC702 DD 452742 6396326 1492 1157.5 150 -59 Development Hole
RC703 DD 452584 6396357 1492 1183.8 146 -62 Development Hole
RC704 DD 452550 6396348 1495 971.9 149 -46 Development Hole
RC705 DD 453310 6396503 1425 1264.3 147 -59 Assays Pending
RC706# DD 454518 6397466 1343 1165.3 148 -45 Assays Pending
RC707 DD 452644 6396362 1489 1097.2 147 -59 Development Hole
RC708 DD 453483 6396405 1417 1208 145 -62 Assays Pending
RC709 DD 453184 6396558 1430 1383.2 149 -58 Assays Pending
RC710 DD 452580 6396361 1492 1050 146 -52 Development Hole
RC711 DD 452551 6396345 1498 994.7 150 -49 Development Hole
RC712 DD 454732 6397201 1236 101.7 270 -10 Geotechnical Hole - Not Sampled
RC713 DD 453381 6396452 1425 1103.6 153 -56 Assays Pending
RC714 DD 454733 6397202 1236 1100 302 -15 Geotechnical Hole - Not Sampled
RC715 DD 454734 6397193 1235 173.5 181 -25 Geotechnical Hole - Not Sampled
RC716 DD 452644 6396362 1489 1104.6 148 -65 Development Hole
RC717 DD 454724 6397171 1244 295.2 249 -8 Geotechnical Hole - Not Sampled
RC718# DD 453485 6396610 1403 1089.7 145 -58 Assays Pending
RC719# DD 453207 6396504 1431 791.2 148 -56 Assays Pending
RC720 DD 454068 6398175 1486 40.1 300 -77 Geotechnical Hole - Not Sampled
RC721 DD 454069 6398151 1484 40 130 -65 Geotechnical Hole - Not Sampled
RC722 DD 454045 6398149 1486 60 183 -50 Geotechnical Hole - Not Sampled
RC723 DD 454015 6398110 1486 60.8 0 -90 Geotechnical Hole - Not Sampled
RC724 DD 454013 6398107 1486 40 0 -90 Geotechnical Hole - Not Sampled
RC725 DD 453981 6398066 1471 60 220 -60 Geotechnical Hole - Not Sampled
RC726# DD 454725 6397172 1244 302 291 -9 Geotechnical Hole - Not Sampled
RC727# DD 453316 6396752 1448 443.1 147 -58 Assays Pending
RC728#   DD 452434 6396600 1460 482 150 -49 Development Hole
RC729# DD 452504 6396348 1495 26 150 -54 Development Hole

 

#drilling in progress. **partial intercept, assays pending. ^updated intercept ^^previously reported intercept

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Figure 5. Schematic plan view map of the East Ridge showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases). 1 g/t AuEq and 2 g/t AuEq shell projections generated from a Leapfrog model and sliced at 800mRL. Gold equivalent (AuEq) grade calculated using a copper conversion factor of 1.67 ([gold grade (g/t)] + [copper grade (%) x 1.67]), using US$1,400/oz Au, US$3.40/lb Cu and 100% recovery.

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Figure 6. Schematic plan view map of the East Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases). 1 g/t AuEq and 2 g/t AuEq shell projections generated from a Leapfrog model and sliced at 800mRL. Gold equivalent (AuEq) grade calculated using a copper conversion factor of 1.67 ([gold grade (g/t)] + [copper grade (%) x 1.67]), using US$1,400/oz Au, US$3.40/lb Cu and 100% recovery.

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Figure 7. Schematic plan view map of the Main Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases). 1 g/t AuEq and 2 g/t AuEq shell projections generated from a Leapfrog model and sliced at 800mRL. Gold equivalent (AuEq) grade calculated using a copper conversion factor of 1.67 ([gold grade (g/t)] + [copper grade (%) x 1.67]), using US$1,400/oz Au, US$3.40/lb Cu and 100% recovery.

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Figure 8. Schematic cross section of RC688 and RC700 (Section Line 35N) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 9. Schematic cross section of RC684 and RC692 (Section Line 34N) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 10. Schematic cross section of RC687 and RC696 (Section Line 32N) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 11. Schematic cross section of RC676 (Section Line 21N) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 12. Schematic cross section of RC683 (Section Line 15N) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Figure 13. Schematic cross section of RC686 (Section Line 14N) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

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Appendix 2

Havieron Project (Greatland Gold Plc - Joint Venture Agreement): JORC Table 1
Section 1: Sampling Techniques and Data

CriteriaCommentary
Sampling techniquesCore samples are obtained from core drilling in Proterozoic basement lithologies. PQ-HQ and NQ diameter core was drilled on a 6m run. Core was cut using an automated core-cutter and half core sampled at 1m intervals with breaks for major geological changes. Sampling intervals range from 0.2 - 1.0m. Cover sequences were not sampled.
Drilling techniquesPermian Paterson Formation cover sequence was drilled using mud rotary drilling. Depths of cover typically observed to approximately 420m vertically below surface. Steel casing was emplaced to secure the pre-collar.

Core drilling was advanced from the base of the cover sequence with PQ3, HQ3 and NQ2 diameter coring configuration.

Core from inclined drill holes are oriented on 3m and 6m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line.
Drill sample recoveryCore recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller's depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled.

Core recoveries were typically 100%, with isolated zones of lower recovery.

Cover sequence drilling by the mud-rotary drilling did not yield recoverable samples.
LoggingGeological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled - 21,677m for 29 drill holes, all intersecting mineralisation), including orientation of key geological features.

Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements.

Magnetic susceptibility measurements were recorded every metre. The bulk density of selected drill core intervals was determined at site on whole core samples.

All geological and geotechnical logging was conducted at the Havieron site.

Digital data logging was captured on diamond drill core intervals only, and all data validated and stored in an acQuire database.

All drill cores were photographed, prior to cutting and/or sampling the core.

The logging is of sufficient quality to support Mineral Resource estimates.
Sub-sampling techniques and sample preparationSampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.

Core was cut and sampled at the Telfer and Havieron core processing facility. Half core samples were collected in pre-numbered calico bags and grouped in plastic bags for dispatch to the laboratory. Sample weights typically varied from 0.5 to 4kg. Sample sizes are considered appropriate for the style of mineralisation. Drill core samples were freighted by air and road to the laboratory.

Sample preparation was conducted at the independent ISO17025 accredited Intertek Laboratory, Perth (Intertek). Samples were dried at 105oC, and crushed to 95% passing 4.75mm, and the split to obtain up to 3kg sub-sample, which was pulverised (using LM5) to produce a pulped product with the minimum standard of 95% passing 106μm. Routine grind size analysis is conducted.

Duplicate samples were collected from crush and pulp samples at a rate of 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation.

Periodic size checks (1:20) for crush and pulp samples and sample weights are provided by the laboratory and recorded in the acQuire database.
Quality of assay data and laboratory testsAssaying of drill core samples was conducted at Intertek. All samples were assayed for 48 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method 4A/MS907), which is considered to provide a total assay for copper. Gold analyses were determined by 50g fire assay with AAS finish (method FA50N/AA), which is considered to provide a total assay for gold.

Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20).

Assays of quality control samples were compared with reference samples in acQuire database and verified as acceptable prior to use of data from analysed batches.

Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats and grind size results are captured in the acQuire database and assessed for accuracy and precision for recent data.

Extended quality control programs including pulp samples submitted to an umpire laboratory and combined with more extensive re-submission programs have been completed.

Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved and the database contains no analytical data that has been numerically manipulated.

The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results.
Verification of sampling and assayingSampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core cutting. Corresponding sample numbers matching pre-labelled calico bags are assigned to each interval.

All sampling and assay information were stored in a secure acQuire database with restricted access.

Electronically generated sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the acQuire database.

Assessment of reported significant assay intervals was verified by re-logging of diamond drill core intervals and assessment of high resolution core photography. The verification of significant intersections has been completed by company personnel and the Competent Person/Qualified Person.

No adjustments are made to assay data, and no twinned holes have been completed.

There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data.
Location of data pointsDrill collar locations were surveyed using a differential GPS with GNSS with a stated accuracy of +/- 0.5m for all drill holes reported.

Drill rig alignment was attained using an electronic azimuth aligner. Downhole survey was collected at 6-12m intervals in the cover sequence, and every 6 to 30m in diamond drill core segments of the drill hole using single shot (Axis Mining Champ Gyro). The single shot surveys have been validated using continuous survey to surface (Axis Mining Champ) along with a selection of drill holes re-surveyed by an external survey contactor using a DeviGyro tool - confirming sufficient accuracy for downhole spatial recording.

A LIDAR survey was completed over the project area in Nov 2019 which was used to prepare a DEM / topographic model for the project with a spatial accuracy of +/- 0.1m vertical and +/- 0.3m horizontal. The topography is generally low relief to flat, elevation within the dune corridors in ranges between 250-265m Australian Height Datum (AHD) steepening to the southeast. All collar coordinates are provided in the Geocentric Datum of Australian (GDA20 Zone 51). All relative depth information is reported in AHD +5000m.
Data spacing and distributionWithin the South-East Crescent and Breccia zone drill hole spacing ranges from 50 to 100m, to 50 by 50m within the initial resource extents. Outside the initial resource boundary drill hole spacing ranges from 50 to 200m in lateral extent within the breccia zone over an area of ~2km2. The data spacing is sufficient to establish the degree of geological and grade continuity.

Significant assay intercepts remain open. Further drilling is required to determine the extent of currently defined mineralisation. No sample compositing is applied to samples.

Drilling intersects mineralisation at various angles.
Orientation of data in relation to geological structureDrill holes exploring the extents of the Havieron mineral system intersect moderately dipping carbonate and siliclastic sedimentary facies, mineralised breccia and sub-vertical intrusive lithologies. Geological modelling has been interpreted from historic and Newcrest drill holes.

Variable brecciation, alteration and sulphide mineralisation is observed with a footprint with dimensions of 650m x 350m trending in a north west orientation and over 1000m in vertical extent below cover.

The subvertical southeast high grade arcuate crescent sulphide zone has an average thickness of 20m and has been defined over a strike length of up to 550m, and extended to over 700m in vertical extent below cover.

Drilling direction is oriented to intersect the steeply dipping high-grade sulphide mineralisation zones at an intersection angle of greater than 40 degrees. The drilled length of reported intersections is typically greater than true width of mineralisation.
Sample securityThe security of samples is controlled by tracking samples from drill rig to database.

Drill core was delivered from the drill rig to the Havieron core yard every shift. On completion of geological and geotechnical logging, core processing was completed by Newcrest personnel at the Havieron facility.

High resolution core photography and cutting of drill core was undertaken at the Havieron core processing facilities.

Samples were freighted in sealed bags by air and road to the Laboratory, and in the custody of Newcrest representatives. Sample numbers are generated directly from the database. All samples are collected in pre-numbered calico bags.

Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advise issued to Newcrest.

Details of all sample movement are recorded in a database table. Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to analytical services. Any discrepancies logged at the receipt of samples into the analytical services are validated.
Audits or reviewsInternal reviews of core handling, sample preparation and assays laboratories were conducted on a regular basis by both project personnel and owner representatives.

In the Competent Person's opinion, the sample preparation, security and analytical procedures are consistent with current industry standards and are entirely appropriate and acceptable for the styles of mineralisation identified and will be appropriate for use in the reporting of exploration results and Mineral Resource estimates. There are no identified drilling, sampling or recovery factors that materially impact the adequacy and reliability of the results of the drilling programme in place at the Havieron Project.

 

Section 2: Reporting of Exploration Results

CriteriaCommentary
Mineral tenement and land tenure statusThe Havieron Project is entirely contained within mining tenement M45/1287, which is jointly owned by Greatland Pty Ltd and Newcrest Operations Limited. Newcrest has entered into a Joint Venture Agreement (effective 30 November 2020) and Farm-In Agreement (effective 12 March 2019) with Greatland Pty Ltd and Greatland Gold plc. Newcrest is the manager of the Havieron Project. Newcrest has now met the Stage 3 expenditure requirement (US$45 million) and is entitled to earn an additional 20% joint venture interest, resulting in an overall joint venture interest of 60%. Newcrest has the right to earn up to a 70% interest and acquire a further 5% at fair market value.

Newcrest and the Western Desert Lands Aboriginal Corporation are parties to an Indigenous Land Use Agreement (ILUA) which relates to the use of native title land for Newcrest's current operations at Telfer and its activities within a 60-km radius around Telfer and includes its exploration activities at Havieron. The parties have agreed that the ILUA will apply to any future development activities by the Joint Venture Participants (Newcrest and Greatland Gold) at Havieron.

The mining tenement M45/1287 wholly replaces the 12 sub-blocks of exploration tenement E45/4701 (former exploration tenement on which the Havieron Project is based) and was granted on 10 September 2020. All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing for prior exploration tenement E45/4701.
Exploration done by other partiesNewcrest completed six core holes in the vicinity of the Havieron Project from 1991 to 2003. Greatland Gold completed drill targeting and drilling of nine Reverse Circulation (RC) drill holes with core tails for a total of approximately 6,800m in 2018. Results of drilling programs conducted by Greatland Gold have previously been reported on the Greatland Gold website.

Drilling has defined an intrusion-related mineral system with evidence of breccia and massive sulphide-hosted higher-grade gold-copper mineralisation.
GeologyThe Havieron Project is located within the north-western exposure of the Palaeo-Proterozoic to Neoproterozoic Paterson Orogen (formerly Paterson Province), 45 km east of Telfer. The Yeneena Supergroup hosts the Havieron prospect and consists of a 9km thick sequence of marine sedimentary rocks and is entirely overlain by approximately 420m of Phanerozoic sediments of the Paterson Formation and Quaternary aeolian sediments.

Gold and copper mineralisation at Havieron consist of breccia, vein and massive sulphide replacement gold and copper mineralisation typical of intrusion-related and skarn styles of mineralisation. Mineralisation is hosted by metasedimentary rocks (meta-sandstones, meta-siltstones and meta-carbonate) and intrusive rocks of an undetermined age. The main mineral assemblage contains well developed pyrrhotite-chalcopyrite and pyrite sulphide mineral assemblages as breccia and vein infill, and massive sulphide lenses. The main mineralisation event is associated with amphibole-carbonate-biotite-sericite-chlorite wall rock alteration. Drilling has partially defined the extents of mineralisation which are observed over 650m by 350m within an arcuate shaped mineralised zone, and to depths of up to 1400m below surface.
Drill hole InformationAs provided.
Data aggregation methodsSignificant assay intercepts are reported as (A) length-weighted averages exceeding 1.0g/t Au greater than or equal to 10m, with a maximum of 5m consecutive internal dilution; and (B) length-weighted averages exceeding 0.2g/t Au for greater than or equal to 20m, with a maximum of 10m consecutive internal dilution, and (C) intervals of >30g/t which are greater or equal to 30 gram metres (Au_ppm x length). No top cuts are applied to intercept calculations.
Relationship between mineralisation widths and intercept lengthsSignificant assay intervals reported represent apparent widths. Drilling is not always perpendicular to the dip of mineralisation and true widths are less than downhole widths. Estimates of true widths will only be possible when all results are received, and final geological interpretations have been completed.
DiagramsAs provided.
Balanced reportingThis is the seventeenth release of Exploration Results for this project made by Newcrest. Previous release dates are 25 July 2019, 10 September 2019, 24 October 2019, 2 December 2019, 30 January 2020, 11 March 2020, 30 April 2020, 11 June 2020, 23 July 2020, 10 September 2020, 29 October 2020, 10 December 2020, 28 January 2021, 11 March 2021, 29 April 2021 and 10 June 2021.

Earlier reporting of exploration programs conducted by Newcrest and Greatland Gold have previously been reported. Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.
Other substantive exploration dataNil
Further workGrowth drilling is planned to extend the December 2020 Inferred Mineral Resource estimate and define the limits of the Havieron mineralised system.

 

Drillhole data(1)

Havieron Project, Paterson Province, Western Australia

Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.20ppm (0.2g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Average grades are based on length-weighting of samples grades. Also highlighted are high grade intervals of Au >1.0ppm (1g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 5m, and intervals of >30g/t which are greater or equal to 30 gram metres (Au_ppm x length) are tabled. Gold grades are reported to two significant figures, the downhole lengths are rounded to 0.1m which may cause some apparent discrepancies in interval widths. Samples are from core drilling which is PQ, HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core PQ, HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes. Collars denoted with a * show partial results, with further significant assays to be reported in subsequent exploration updates.

Hole IDHole
Type
Easting
(m)
Northing
(m)
RL
(m)
Total
Depth
(m)
AziDipFrom
(m)
To (m)Interval
(m)
Au
(ppm)
Cu
(pct)
Cut
off
HAD046W2 MR-DD4642747598204257122362225Assays pending
HAD057W6MR-DD46445975980262571562.2225-55950.9976.625.70.590.040.2 g/t Au








9951039440.670.150.2 g/t Au








1123.41148.525.12.30.030.2 g/t Au







incl1127.51140.913.44.00.061.0 g/t Au







incl11321132.70.7430.0030 g/t Au








12871309220.250.020.2 g/t Au








15191558390.310.220.2 g/t Au
HAD057W7 MR-DD46446075980272571064.855225Assays pending
HAD057W8 MR-DD46445975980262571153.655225Assays pending
HAD069W3 MR-DD46444075982152571500.962222Assays pending
HAD084W1 MR-DD46327175978432561983.86583Assays pending
HAD086W1^^MR-DD46462375981482581460.6225-6412401274343.90.280.2 g/t Au







incl12591271.212.2100.361.0 g/t Au







incl126512661470.0530 g/t Au








13081407.799.72.50.850.2 g/t Au







incl1313.6136450.44.31.61.0 g/t Au







incl13311331.90.9463.830 g/t Au







incl1339.41340.30.9501.330 g/t Au







incl135813591500.0130 g/t Au







incl13931403102.10.131.0 g/t Au








1426.3146033.70.390.090.2 g/t Au
HAD089W1^^MR-DD46429975977462581138290-61602713.2111.20.320.020.2 g/t Au








752.9791.538.60.430.080.2 g/t Au








878.1930.952.80.540.130.2 g/t Au








943.6968.825.20.310.040.2 g/t Au








1009.7109181.31.20.040.2 g/t Au







incl107810791370.0130 g/t Au
HAD089W2MR-DD46429975977462581192290-61738.276122.80.290.140.2 g/t Au








824851270.610.090.2 g/t Au








867963.696.60.430.110.2 g/t Au







incl928.293910.81.20.461.0 g/t Au








981.2100826.80.330.020.2 g/t Au








11221166440.410.040.2 g/t Au
HAD089W3 MR-DD46430075977472581379.361290Assays pending
HAD090W1 MR-DD46359775979992552041.264105Assays pending
HAD096W1^^MR-DD46371775973542621350.431-61704741.537.50.200.030.2 g/t Au








812849370.580.150.2 g/t Au







incl865.4865.80.41420.0430 g/t Au








876.697699.40.60.20.2 g/t Au








9981023250.270.270.2 g/t Au








10371115780.450.070.2 g/t Au








1271.4132149.60.650.080.2 g/t Au







incl1281.2129614.81.90.151.0 g/t Au
HAD097W3^^MR-DD4644367598085257830222-63620.266847.82.30.280.2 g/t Au







incl639.766828.33.80.451.0 g/t Au
HAD097W4MR-DD46443675980852571120222-6392710391120.310.010.2 g/t Au








10511101501.10.040.2 g/t Au







incl10811091102.00.041.0 g/t Au
HAD099MR-DD4640907597787257884294-65663.4708.244.80.650.050.2 g/t Au
HAD099W1MR-DD4640907597787257978.2294-65653724710.500.070.2 g/t Au
HAD099W2 MR-DD46409175977892571059.965294Assays pending
HAD106W2^^MR-DD46352175977822571026.469-57648.7702.854.10.560.090.2 g/t Au







incl674.968813.11.60.111.0 g/t Au








726.9754.827.90.220.060.2 g/t Au








793850.357.30.310.060.2 g/t Au
HAD133^^MR-DD46407175983152571430.2171-6512211329.5108.51.70.430.2 g/t Au







incl1244.7126823.32.70.591.0 g/t Au







incl12761289132.40.621.0 g/t Au







incl1309.9132919.12.30.381.0 g/t Au








1345143085110.290.2 g/t Au







incl1363137613320.461.0 g/t Au







incl1366.61372.66620.2430 g/t Au







incl1385.71386.40.7820.1930 g/t Au







incl1396.5141114.5320.331.0 g/t Au







incl14031406.63.61200.4630 g/t Au
HAD133W1 MR-DD46407275983172571673.665171Assays pending
HAD133W2 MR-DD46407275983172571545.265171Assays pending
HAD136^^MR-DD46445175975442571468.9300-62501556.255.22.50.650.2 g/t Au







incl506.8531.324.55.40.951.0 g/t Au







incl512513131.41.230 g/t Au








788.8883.694.80.340.120.2 g/t Au








919.794020.30.350.160.2 g/t Au








979.3100929.70.200.100.2 g/t Au








1022.61137.5114.90.260.100.2 g/t Au








1148.91194.645.70.440.060.2 g/t Au








13291354250.220.010.2 g/t Au
HAD136W1MR-DD46445175975442571549.1300-62592.161724.90.840.050.2 g/t Au








930967.837.80.340.040.2 g/t Au








988.8102536.22.70.090.2 g/t Au







incl101110121880.0530 g/t Au








105012512010.450.090.2 g/t Au








1460.31482.422.10.370.110.2 g/t Au
HAD138 **MR-DD46345075978722531506.876-56683767.584.52.00.050.2 g/t Au







incl685.369812.76.00.011.0 g/t Au







incl710.272110.86.80.071.0 g/t Au







incl710.27110.8730.2830 g/t Au








783.11506.8Assays pending
HAD138W1 MR-DD46345175978732531609.75676Assays pending
HAD139 MR-DD4639867597789257743.458327Assays pending
HAD140 MR-DD463489759805825512075899Assays pending
HAD141 MR-DD46336375975052642036.26527Assays pending
HAD147 MR-DD46449075981392581341.769227Assays pending

 

#drilling in progress. **partial intercept, assays pending. ^updated intercept. ^^previously reported intercept.

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Figure 14. Schematic plan view map showing drill hole locations and significant intercepts reported in this release superimposed on the interpreted geology. Previously reported holes are not shown for the sake of clarity. Note some holes and results appear on multiple sections due to the sections orientation and sections overlap.

To view an enhanced version of Figure 14, please visit:
https://orders.newsfilecorp.com/files/7614/90916_95bb76101468b8dc_016full.jpg

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Figure 15. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S1, +/-75m section width, as shown in Figure 14). Due to section window size and orientation holes may appear on multiple sections.

To view an enhanced version of Figure 15, please visit:
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Figure 16. Schematic cross section of geology and significant new drillhole intercepts (looking southwest, Section Line S2, +/-100m section width, as shown in Figure 14). Due to section window size and orientation holes may appear on multiple sections.

To view an enhanced version of Figure 16, please visit:
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Forward Looking Statements

This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "targets", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding estimated reserves and resources, certain plans, strategies, aspirations and objectives of management, anticipated production, study or construction dates, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. Newcrest continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.

These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Newcrest's actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Newcrest operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on Newcrest's results and performance, please see the risk factors included in the Annual Information Form dated 13 October 2020 lodged with ASX and SEDAR.

Forward looking statements are based on Newcrest's good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Newcrest's business and operations in the future. Newcrest does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Newcrest. Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic. Forward looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Newcrest does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in assumptions on which any such statement is based.

Ore Reserves and Mineral Resources Reporting Requirements

As an Australian Company with securities listed on the Australian Securities Exchange (ASX), Newcrest is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001 and the ASX. Investors should note that it is a requirement of the ASX listing rules that the reporting of ore reserves and mineral resources in Australia is in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and that Newcrest's ore reserve and mineral resource estimates comply with the JORC Code.

Newcrest is also subject to certain Canadian disclosure requirements and standards, as a result of its secondary listing on the Toronto Stock Exchange (TSX), including the requirements of National Instrument 43-101 (NI 43-101). Investors should note that it is a requirement of Canadian securities law that the reporting of Mineral Reserves and Mineral Resources in Canada and the disclosure of scientific and technical information concerning a mineral project on a property material to Newcrest comply with NI 43-101. Newcrest's material properties are currently Cadia, Lihir and Wafi-Golpu.

Competent Person's Statement

The information in this document that relates to Exploration Targets, Exploration Results, and related scientific and technical information, is based on and fairly represents information compiled by Mr F. MacCorquodale. Mr MacCorquodale is the General Manager - Greenfields Exploration and a full-time employee of Newcrest Mining Limited. He is a shareholder in Newcrest Mining Limited and is entitled to participate in Newcrest's executive equity long term incentive plan, details of which are included in Newcrest's 2020 Remuneration Report. He is a Member of the Australian Institute of Geoscientists. Mr MacCorquodale has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code and as a Qualified Person under NI 43-101. Mr MacCorquodale approves the disclosure of scientific and technical information contained in this document and consents to the inclusion of material of the matters based on his information in the form and context in which it appears.

Authorised by the Newcrest Disclosure Committee

For further information, please contact:

Investor Enquiries
Tom Dixon
+61 3 9522 5570
+61 450 541 389
Tom.Dixon@newcrest.com.au

Ben Lovick
+61 3 9522 5334
+61 407 269 478
Ben.Lovick@newcrest.com.au

North American Investor Enquiries
Ryan Skaleskog
+1 866 396 0242
+61 403 435 222
Ryan.Skaleskog@newcrest.com.au

Media Enquiries
Tom Dixon
+61 3 9522 5570
+61 450 541 389
Tom.Dixon@newcrest.com.au

This information is available on our website at www.newcrest.com


1 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.

2 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.

3 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90916


ę Newsfilecorp 2021
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