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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Newcrest Mining Limited    NCM   AU000000NCM7

NEWCREST MINING LIMITED

(NCM)
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Newcrest Mining : September 2020 Interim Exploration Report

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09/09/2020 | 07:55pm EDT

Exploration Update

10 September 2020

Highlights

  • Havieron mineralisation extended with expansion of the northern breccia which includes higher gradesulphide zones
  • Initial inferred resource for Havieron planned for delivery in the December 2020 quarter
  • Red Chris drill results confirms the presence of multiple discrete high grade pods in the East Zone with RC634 reporting 394m** @ 1.6 g/t Au & 0.86% Cu from 650m including 166m @ 3.0 g/t Au & 1.5% Cu from 806m

Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said "Havieron has continued to expand its mineralisation with further high grade intercepts including 1m @ 100 g/t gold. Drilling results at Red Chris have returned 166m @ 3.0 g/t gold and 1.5% copper, which is significantly higher than we would expect to find in porphyry systems. Red Chris' results also confirm the presence of multiple discrete high grade pods of mineralisation within the East Zone. We remain on track to commence declines at both projects by the end of this year or early next calendar year which will enable us to accelerate definition and development of these exciting growth options."

Havieron - Significant results since the June Quarterly Exploration Report:

  • HAD043W2
  1. 116.2m @ 2.6 g/t Au & 0.65% Cu from 607m
    1. Including 18m @ 6.3 g/t Au & 0.92% Cu from 671m
  • HAD047
    1. 309m @ 0.99 g/t Au & 0.07% Cu from 915m
    1. Including 44m @ 3.3 g/t Au & 0.15% Cu from 1157m
    1. Including 1m @ 100 g/t Au & 0.85% Cu from 1158m
  • HAD055W1
    1. 171m @ 1.5 g/t Au & 0.10% Cu from 890m
    1. Including 12.1m @ 4.5 g/t Au & 0.04% Cu from 984.9m
  • HAD077
    1. 127.6m @ 2 g/t Au & 0.33% Cu from 551m
    1. Including 29.8m @ 6.7 g/t Au & 0.86% Cu from 616m
  • HAD078
    1. 208.6m @ 1.2 g/t Au & 0.22% Cu from 832.4m
  1. Including 10.4m @ 4.0 g/t Au & 0.11% Cu from 1002.6m

Red Chris - Significant results since the June Quarterly Exploration Report:

  • RC625:
  1. 426m^ @ 0.62 g/t Au & 0.48% Cu from 640m
    1. including 76m^^ @ 1.9 g/t Au & 1.2% Cu from 734m
    1. including 60m^^ @ 2.2 g/t Au & 1.3% Cu from 736m
  • RC634
    1. 394m** @ 1.6 g/t Au & 0.86% Cu from 650m
    1. including 202m @ 2.7 g/t Au & 1.3% Cu from 802m o including 166m @ 3.0 g/t Au & 1.5% Cu from 806m o including 26m @ 8.8 g/t Au & 3.4% Cu from 888m o including 12m @ 12 g/t Au & 4.4% Cu from 890m o including 12m @ 1.5 g/t Au & 0.93% Cu from 988m o including 10m @ 1.0 g/t Au & 0.71% Cu from 1022m
  • partial intercept, assays pending; ^ updated intercept or ^^ previously reported.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Exploration Update September 2020

1

At the Havieron Project, additional drilling results since the 30 June 2020 Quarterly Exploration Report has validated the expanded extent of the Havieron mineralised system. Drilling continues to define a new mineralised breccia zone "Northern Breccia" which has a current footprint of ~300m x 100m x 300m is open at depth and highlights the potential for a broad bulk tonnage opportunity. Importantly internal higher grade zones related to massive sulphide mineralisation are also observed within this breccia. These results further advance the geological understanding of the system and indicate further potential for both additional breccia and higher grade sulphide style mineralisation in this less explored region.

Infill drilling in the south-east continues to demonstrate geological and grade continuity over the upper 600m vertical extent of the high grade crescent sulphide zone and surrounding breccia with infill hole HAD077 returning 127.6m @ 2 g/t Au & 0.33% Cu from 551m including 29.8m @ 6.7 g/t Au & 0.86% Cu from 616m. Ongoing infill drilling is nearing completion, focused on the delivery of an initial inferred resource in the December 2020 quarter.

At Red Chris, additional drilling results since the 30 June 2020 Quarterly Exploration Report continue to confirm the continuity of high grade within the East Zone. Infill resource definition drilling of the East Zone has returned a partial intercept of 394m** @ 1.6 g/t Au & 0.86% Cu from 650m, including 166m @ 3 g/t Au & 1.5% Cu from 806m in RC634. Newcrest remains on track to announce an initial resource for Red Chris in the March 2021 quarter.

Final results from the western pod drill hole RC625 (partial results reported in the 30 June 2020 Quarterly Exploration Report) were received with results including 426m^ @ 0.62 g/t Au and 0.48% Cu from 640m including 60m^^ @ 2.2 g/t Au and 1.3% Cu from 736m. Follow up drilling to define the extent and continuity of this zone is ongoing.

Newcrest has implemented and maintained measures to reduce and mitigate the risks of the COVID-19 pandemic to its project workforce and key stakeholders. Potential impacts of the COVID-19 pandemic on the drilling activity at all of our exploration projects are being actively managed. There have been no confirmed cases of COVID-19.

** partial intercept, assays pending; ^ updated intercept or ^^ previously reported.

Havieron Project, Western Australia

The Havieron Project is operated by Newcrest under a farm-in agreement with Greatland Gold Plc. Newcrest has earned a 40% interest in the project and is now progressing Stage 3 work programs, including ongoing exploration drilling and studies to support early development options. Newcrest can earn up to a 70% joint venture interest through expenditure of US$65 million and the completion of a series of exploration and development milestones in a four-stagefarm-in over a 6 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 farm-in agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program and feasibility study, the resulting joint venture ore 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 target is overlain by more than 420m of post mineral Permian cover. Newcrest commenced drilling during the June 2019 quarter and has progressively increased its drilling activities to the extent that nine drill rigs are now in operation. A further 22,155m of new drilling has been completed since 30 June 2020, contributing to a total of 98,968m of drilling since Newcrest acquired its interest in the joint venture.

At Havieron, exploration programs have focused on an infill drilling program to deliver an inferred resource and step out drilling to define the extent of the Havieron mineralised system. The step out drilling has defined a 650m x 350m NW trending ovoid shaped variably mineralised breccia. On the margins of the breccia is a higher grade sulphide zone.

The high grade sulphide zone forms an ovate shape with a south-eastern and north-western closure. The mineralisation is best developed in the south-eastern closure.

  • In the south-eastern closure:
    • The upper levels of the system (-170m to -400mRL) have an internal unfolded strike of 550m, an average width estimate of 20m and a height of 230m
    • The mid level of the system (-400m to -600mRL) has an internal unfolded strike of 400m, an average width estimate of 20m and a height of 200m
    • The lower levels (-600m to -800mRL) where drill tested, has the crescent zone which tapers in strike length to 200m, with a width of approximately 20m and a height of 200m
    • Breccia mineralisation adjoining the Crescent zone continue to deliver strong results including HAD077
  • In the north-western closure:
    • Initial drill testing indicates mineralisation is thinner and irregular (typically averages <5m, with rare 10m intercepts)
    • At this early stage additional drill testing is required to determine ore shoot distribution
  • Mineralisation on the limbs between the south-east and north-west closure is irregularly developed

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Exploration Update September 2020

2

Infill drilling of the south-east arcuate sulphide Crescent zone (with nominal drill spacing of 50 - 100m laterally, and 100m vertically) is nearing completion to support the delivery of an initial inferred resource in the December 2020 quarter.

Ongoing extensional drilling has confirmed and further expanded the footprint of the northern breccia hosted mineralisation. Previously reported drill holes HAD066 and HAD046W1 intersected a new breccia zone returning 128.7m^^ @ 1.0g/t Au and 0.13% Cu from 734.1m (HAD066) and 134.6m^^ @ 2.5g/t Au and 0.07% Cu from 923m (HAD046W1). Importantly hole HAD046W1 internal to this interval returned a higher grade zone including 27.3m^^

  • 10g/t Au and 0.13% Cu from 944.7m associated with more intense sulphide development. Drilling in the reporting period has continued to define this mineralised northern breccia zone. Additional results during the reporting period include HAD047, 309m @ 0.99 g/t Au and 0.07% Cu from 915m including 44m @ 3.3 g/t Au and 0.15% Cu from 1157m and HAD078, 208.6m @ 1.2 g/t Au & 0.22% Cu from 832.4m including 10.4m @ 4.0 g/t Au & 0.11% Cu from 1002.6m.

** partial intercept, assays pending; ^ updated intercept or ^^ previously reported.

Table 1: Significant Havieron intercepts

Hole ID

From (m)

To (m)

Width (m)

Gold (g/t)

Copper (%)

HAD043W2

607

723.2

116.2

2.6

0.65

including

671

689

18

6.3

0.92

HAD047

915

1224

309

0.99

0.07

including

1157

1201

44

3.3

0.15

including

1158

1159

1

100

0.85

HAD048

960.6

1035.9

75.3

1.8

0.17

including

973

1003.0

30

3.7

0.27

HAD048

1141

1222.1

81.1

1.6

0.83

HAD055W1

890

1061.0

171

1.5

0.10

HAD068W2

1131.2

1191.3

60.1

1.3

0.14

including

1131.9

1153.4

21.5

2.9

0.20

HAD069

1006

1193.0

187

0.61

0.10

HAD072

543.7

613.2

69.5

1.4

0.50

including

548.8

573.4

24.6

3.5

1.40

HAD074

710.9

876.6

165.7

0.62

0.35

HAD075

913

1049

136

0.5

0.14

HAD076

884.6

997

112.4

0.9

0.08

HAD076

1049

1075

26

4.9

0.16

including

1063

1063.7

0.7

178

0.53

HAD077

551

678.6

127.6

2.0

0.33

including

616

645.8

29.8

6.7

0.86

HAD078

832.4

1041

208.6

1.2

0.22

HAD079

1195

1277

82

1.0

0.13

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Exploration Update September 2020

3

HAD048 81.1m @ 1.6g/t Au & 0.83% Cu from 1141m, incl. 11.3m @ 2.3g/t Au & 0.92% Cu from 1188m.

HAD079 82m @ 1.0g/t Au

  • 0.13% Cu from1195m, incl. 24m @ 2.9g/t Au & 0.33% Cu from1233m.

464000mE HAD048 75.3m @ 1.8g/t Au & 0.17% Cu from960.6m, incl. 30m @ 3.7g/t Au & 0.27% Cu from 973m.

464200mE HAD047 309m @ 0.99g/t Au & 0.07% Cu from 915m, incl. 44m @ 3.3g/t Au & 0.15% Cu from1157m.

7598000mN

7598000mN

HAD070 40.6m @ 1.1g/t Au

HAD081 47.2m @ 0.82g/t Au &

HAD076 112.4m @ 0.9 g/t Au &

& 0.15% Cu from762.4m,

0.21% Cu from1122.8m.

0.08 % Cu from 884.6m and 26m @

incl. 11m @ 1.6g/t Au &

4.9g/t Au & 0.16% Cu from 1049m.

0.25% Cu from787m.

HAD078 68.7m @ 1.2g/t

HAD072 69.5m @ 1.4g/t Au &

Au & 0.13% Cu from

Northern Breccia Projection

729.3m, incl. 14.7m @ 2

0.5% Cu from 543.7m, incl. 24.6m

g/t Au & 0.15 % Cu from

@ 3.5g/t Au & 1.4% Cu from

744.3m.

548.8m.

HAD078 208.6m @1.2 g/t

Au & 0.22% Cu from

7597800mN

832.4m, incl. 10.4m @

4g/t Au & 0.11% Cu from

HAD074 165.7m @ 0.62g/t Au

1002.6m.

& 0.35% Cu from710.9m.

HAD075 136m @ 0.5g/t Au

& 0.14% Cu from913m.

HAD069 187m @ 0.61 g/t Au & 0.1 % Cu from 1006m.

HAD055W1 171m @ 1.5g/t Au

  • 0.10% Cu from890m, incl.
    12.1m @ 4.5g/t Au &
    0.04% Cu from984.9m.

Legend

HAD077 127.6m @ 2g/t Au &

Crescent Sulphide Zone Slice -300mRL

0.33% Cu from551m, incl.

29.8m @ 6.7g/t Au & 0.86%

1g/t Au LF Shell Slice -300mRL

HAD043W2 116.2m @ 2.6g/t

Cu from 616m.

1g/t Au LF Shell Slice -600mRL (Northern Breccia)

HAD068W2 60.1m @ 1.3 g/t

Au & 0.65% Cu from607m,

Au & 0.14 % Cu from

0.5g/t Au LF Shell Slice -300mRL

incl. 18m @ 6.3g/t Au &

1131.2m, incl. 21.5m @ 2.9

Post Mineral Dyke Slice -300mRL

0.92% Cu from671m.

g/t Au & 0.2 % Cu from

464000mE

Significant Intercepts > 0.2 g/t Au

1131.9m

0

50

100m

Figure 1. Plan view schematic of a horizontal slice at -300mRL through the crescent sulphide zone and breccia- hosted mineralisation, showing the extents of the 0.5 and 1.0 g/t Au Leapfrog grade shells with highlighted intercepts reported from this Exploration Update. Also shown is the northern breccia 1 g/t Au Leapfrog shell projected from - 600mRL - drilling ongoing to confirm the extent of the northern breccia.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne - Exploration Update September 2020

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Newcrest Mining Limited published this content on 10 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2020 22:54:00 UTC


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