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Greta news from Havieron today
Primorus Investments*s CEO did his university paper on Telfer [Newcrest owned near Havieron Newcrest/GGP].
Looks like the industry will be watching for the next batch of results from Newcrest at Havieron.
As I said, that on Rio*s Winu [on the structural corridor to Newcrest/GGP*s Havieron at Paterson, W.Australia] both mining types & Hartley*s of Australia could work out the potential size, scale of Winu.
So, similarly, the professionals in the industry are looking to the next few holes assay results for Havieron?
Wed, 31 July 2019
Primorus Investments has just tweeted about Newcrest/GGP*s Havieron project and mentioned the 11 holes and that they are looking forward to the next batch of results. This thread is about the next batch of results from Newcrest at Havieron under the JV.
Primorus tweeted a few minutes ago: "..only 11 holes drilled and of those 6 have spectacular Au/Cu intercepts. Amazing stuff. Looking forward to the next batch."
See my last post with the link.
Wed 31 July 2019
Hotcopper:
From "Leondaniel" on 29 July 2019 with 17 votes.
Quote:
"Latest chatter about the find includes talk that Rio is preparing to start some sterilisation drilling in preparation for the positioning of mine infrastructure. "
"If that is the case, the mining major is giving thought to being around Paterson for a long time."
"Sounds GOOD!!!."
Link: https://hotcopper.com.au/asx/azy/discussion/
LeonDaniel was referring to Livewire Markets article in my Sat 13:04 post within this thread. To read the said article, click reply icon and it will open up the thread.
I quoted what LeonDaniel said as this is industry on-topic news for the players at Paterson Province, Western Australia.
Mkt closed now - Mon, 29 July 2019:
Conclusion:
When Newcrest issued their announcement ie Quarterly Report in Australia on Thur, 25 July 2019. I was able to read this announcement as soon as it was released in Australia on the ASX before the market opened the next day in London [UK] .
Whilst the Havieron [Newcrest/GGP] assay results were about Hole 6 Extension, Hole 10 & 11, it is possible that there are now further assays pending or in the works?
Nevertheless, Newcrest informed in this said announcement that they are going to bring in a FURTHER rig at Havieron, Paterson, Western Australia in Aug 2019 [3+1=4].
Just on the 11 holes drilled at Havieron [Newcrest joint ventured with Greatland Gold after Hole 6-9 results [Hole 1-5 earlier] were published.
On these 11 holes via my own research, some of which I have posted on this thread, I have been able to ascertain the potential SIZE or scale of Havieron for myself. I used the standard method of analysis via comparitives etc and via the Sprotts report as a check etc.
This was the same type of observation etc that worked for me and others on Solgold as we shared research etc.
It appears that Australians and Canadians are more nuanced in mining stocks and the stock market valuation models etc. A lot follow Sprott and Rick Rule [President & CEO] at the various mining conferences in Toronto etc as these are house-hold names in the mining investment sphere and highly successful. So, there is no need to go through baseline/s as they know the theories and they are nuanced in the exploration results data. Both Canada & Australia are mining countries and as such there are a lot of mining co*s listed in these 2 countries. Many are geologists and work in the investment sphere ie Australian & Canadian mining investors.
So, this chapter closes as results will determine the short-term and thereafter.
It was very interesting that Solgold & Aurelian Resources hit the $1 billion re-rate. Both these shares were junior exploration minnows which rose from pennies or cents to the $1 billion re-rate [commonly known for Tier 1 deposits]. History now but just examples of which the Commodity Discovery Mgm quoted ie Aurelian relating to Newcrest/GGP JV and prior to JV.
News
Mon, 29 July 2019 at 7pm.
Newcrest 1st drill at Havieron [JV with GGP] at Paterson, Western Australia with assay results was released at their Qtr Report on 25 July 2019. Newcrest Holes drilled were Hole 6 Extension, Hole 10 and Hole 11 at Havieron.
For perspective, Rio*s Winu [structural corridor to Havieron, Paterson, W.A] : Mining types & Hartley*s [Australian broker] were able to estimate the size of the Rio project at around Hole 14 at Winu, Paterson, Western Australia.
Comment:
With 3 rigs spinning 24/7, a 4th rig is about to arrive at Havieron in Aug, 2019.
So, just 3 more holes to go ie 12, 13 & 14 as the industry via Mining Journal etc watch the results.
Similarly, BHP proposed an investment of some $250m at Cascabel [Solg] at around Hole 16-17 at Cascabel. However, Newcrest had entered much earlier prior to Hol]e 16-17.
Interesting. Last post - typo error: travelled not travel.
Mon 29 July 2019
"Newcrest drilling boosts GGP."- Mining Journal, Mon 29 July 2019
[8 mins ago via https://twitter.com/clairenfc/status/1155827477777981442
Quote:
"Hole 11 extended the known mineralised breccia and CONFIRMED COPPER grades were INCREASING WITH DEPTH, the co said, with ASSAY values up to 2.3% cu copper."
"Newcrest agreed earlier this year to spend US$5 million on the project with the option to acquire 70% of Havieron by spending US$65m on exploration and development over five years."
"First drill results from...Havieron project in Western Australia have CONFIRMED the presence of HIGHER-GRADE copper-gold mineralisation."
One can read the details of Hole 6 Extension in the article etc.
Comment:
News has now travel to the industry via Mining Journal etc.
Newcrest*s All-In Sustaining Cost:
$720 /oz
per their Qtr Report issued on 25 July 2019 [same time as the Havieron results]
https://twitter.com/NewcrestMining/status/1154158155858710528
NEWCREST TWEET:
[Top of their current timeline]:
"Our farm-in agreement with Greatland Gold has confirmed the presence of a higher-grade copper-gold mineralisation from our first drill results with the Havieron project." [Tweet shows a picture with the word: "HAVIERON PROJECT"]
https://twitter.com/NewcrestMining/status/1154240672670474245 dated 25 July 2019
My 11:40 post under this thread, Mon 29 July 2019.
From the poster Chartbuster [London South East] on 28 July 2019 at 16:37:
"The 52m @ 7g/t is h u g e ...more importantly the 17 m @ 21 gpt + cu [ over 2/3 of a Oz per tonne] is a fat ore block the size of a 5 storey building....incredible.
4 rigs is serious." [Ref: Newcrest/GGP Havieron Hole 6 Extension assay result dated 25.7.19]
Chartbuster on 25 July 2019 [London South East] at 10:30
"Im a 30 year industry veteran..gold exploration geologist to boot."
https://www.lse.co.uk/profiles/chartbuster
Comment:
Just a bit of further info relating to Aurelian Resources by Commodity Discovery Mgm relating to Newcrest [Joint Venture with Greatland Gold #GGP at Havieron, Paterson, W.Australia].
My said 11:40 post within this thread, ref article: " DOUBLE DIGIT GRAMS PER TONNE." [Aurelian]
So, the doubt digit result from Newcrest*s Hole 6 Extension at Havieron is notable?
Newcrest in their 25 July 2019 Qtr Report said that another rig will be at Havieron in Aug 2019 = 4 rigs [3+1].
From recall, Aurelian had 5 rigs? I have to try to find the article again when I have the time.
News
Mon 29 July 2019
DYOR. Please check.
Link to Newcrest*s Havieron results [screenshot from Newcrest*s 25 July 2019 Qtr Report]
https://twitter.com/HTrader64/status/1154166757529198592
[Also shows Havieron Hole 1, 3, 5, 6 & 8 results] + Newcrest*s Hole 6 Ext & Hole 11 results.]
The Aurelian Resources story as per 24hr gold is said to be instructive for investors and speculators. Not difficult to see why as it is the case study example.
Aurelian went from Canadian 60c to $40 :
"The stock went on a m e t e o r i c rise which took it from $0.60 to $40 within a few months as drilling confirmed the initial grade and thickness of more than 200 metres grading d o u b l e digit grams per ton."
"So this discovery raises an interesting question: Is the discovery of a company maker like Fruta del Norta a lucky shot or are there possibly any prior indicators to that a company is about to find something BIG?"
"In Aurelian*s case there is in fact an important lesson to learn since there were a l o t of s i g n a l s that the market simply o v e r l o o k e d."
[Ref: Methodical exploration as a hint for mining investors: Aurelian Resources Fruta del Norte." - 24hr gold, 14.11.09
<>"Kinross to buy Aurelian"-The Star, 25 July 2008
https://www.thestar.com/business/2008/07/25/kinross_to-buy-aurelian.html
"When Aurelian announced its blockbuster find in 2006, the junior explorer soared from a penny stock to $40 a share as it unveiled a series of glowing drill results and got the industry buzzing amid a troubling dearth of n e w discoveries in this supercharged run for metals." [ Article mentions bullion at $920 per ounce].
"Kinross has struck a $1.2 bn friendly deal to scoop Aurelian ..."
POST COMMODITY DISCOVERY MGM ARTICLE
Newcrest on 25 July 2019 [Qtr report] informed on Havieron*s [Newcrest/GGP Joint Venture] at Paterson Province, Western Australia 1st drill results [under Newcrest drilling] for Hole 6 Extension, Hole 10 & 11.
Hole 6 Extension [Havieron under Newcrest drilling]:
Over 700 m in vertical extent - 23m at 1g/t Au & 0.19 % cu [from872m]
12 m at3.1 g/t Au & 0.08% cu [from1071m]
<> 52m at 7g/t Au gold & 0.17% cu [from1122m]
<> inc17m @ 21 g/t Au & 0.39% cu [from 1153m]
Commodity Discovery Mgm mentioned 275m @ 5g/t au gold [Havieron under GGP]. The Commodity Discovery Mgm*s - under Willem Middlekoop.
An interesting case study which was also cited by 24hr gold as relevant study for investors and speculators of junior mining stock/s?
Mon 29 July 2019
News
DYOR. Please check as there can be copying errors.
From Commodity Discovery Management per my Fri, 26 July 2019 post:
"To put this in perspective, the MONSTER discovery of Aurelian Resources in Ecuador in 2006 started with a s i m i l a r hole."
[The above refers to Greatland Gold*s "impressive" result 275m at 5 g/t gold end of last year. This was prior to the Newcrest Joint Venture]
Link: https://www.cdfund.com/en/you-find-a-new-mine-next-to-a-old-mine/
Aurelian Resources
So, to follow up on the story as provided by Commodity Discovery Management on GGP & Newcrest-GGP Joint Venture, the Aurelian results were:
Bonzales Pena: 8 holes - 114m at 1.58g/t Au gold
Mineralisation O P E N to the North & South & DEPTH. Traced over 500m.
Fruta del Norte came in at 13.7 million ounces [43-101]
[To read, kindly type: "Methodical Exploration as a hint for mining investors: Aurelian Resources Fruta del Norte." - 14.11.09 by 24hr gold.
<> "Aurelian reports strong in-fill drill results on FDN: Concessions in good standing & progress in govt. discussions."-24 hr gold, 25.1.08 [Reference]
Some highlights:
"149.63 metres grading 12.51 g/t Au gold & 15.71 g/t silver
"119 metres grading 8.03 g/t Au gold & 22.6 g/t Ag
"75.81 metres grading 11.06 g/t Au & 22.05 g/t Ag
Deposit contained Inferred 13.7 million ounces of gold & 22.4 million ounces of silver. [58.9 million grading 7.23 g/t gold and 11.8 g/t silver determined by a cut-off rate of 2.3 g/t gold equivalent.]
"Kinross to acquire Aurelian Resources in $1.2 B friendly deal" -CBC.ca, 24.7.2008
Posting to illustrate what Commodity Discovery Mgm mentioned in the the article relating to Newcrest/GGP JV & GGP prior to the JV.
Mon 29 July 2019
DYOR. Please check.
Quote: Ref: Newcrest Joint Venture with Greatland Gold at Havieron.
"But even with the share price leap, the value of Newcrest*s potential spend is still roughly commensurate with Greatland*s ENTIRE CAPITALISATION." [Article mentioned GGP*s cap at £50m]
"The answer is simple enough as shown by Greatland Gold this week: a $65 million joint venture deal that could pay all expenses to feasibility, and which could lead to the development of a MAJOR PRODUCING MINE."
"So, its not just a ONE-OFF hit that Newcrest is buying into, its a solid WORK programme that could be about to YIELD A MAJOR DISCOVERY."
"Because although the Greatland exploration blockS were previously thought to be on the EDGE OF THE PROSPECTIVE AREA, that*s NO LONGER THE CASE. Newcrest KNOWS this and accordingly it hasnt joint ventured the block containing Greatland*s 275m hit, but it has JOINT VENTURED 11 OTHERS held by Greatland, and obtained a 1ST RIGHT of refusal over more to the NORTH."
"The likelihood now is that Newcrest drill rigs will mobilise rapidly at Havieron in an endeavour to replicate Greatland*s own drilling success. That in turn is likely to lead to some interesting NEWSFLOW that already has Greatland shareholders s a l i v a t i n g."
"This farm-in has in my opinion, the potential to OPEN UP the ENTIRE HAVIERON region to COMMERCIAL MINING in a time frame and cost that stand-alone operations could never compete with", said Alistair Clayton, Executive Director of Primorus Investments, which owns around 1.1% of Greatland shares."
["Nevertheless, the sheer QUALITY of the intercept, its LENGTH & GRADE, meant that Greatland was unlikely to be short of SUITORS offer to provide assistance, and on attractive terms too."]
Article by Alistair Ford, Proactive Investors for This is Money, Daily Mail dated 18.3.19
Comment:
Alistair Ford is a Mining Analyst. A re-visit of this article especially in light of the recent 1st assay results issued by Newcrest [Havieron Hole 6 Extension, Hole 11 & Hole 11] on 25 July 2019 [Qtr Report] provides further insight and overview. More importantly, it views the said Newcrest 1st Havieron results of 25 July 2019 against what was said by A.Ford on 18 Mar 2019.
Link: https://www.thisismoney.co.uk/money/investing/article-6822623/SMALL-CAPS-IDEAS-Gold-miner-Greatland-secures-65m-joint-venture-deal.html
DYOR. Please check.
News
Sun, 28 July 2019 at 11:10am
Note:
After 14 diamond holes [and partial results] at Winu [Rio], mining types were able to estimate and come up with the size of Winu.
I am breaking off as I had other work to do. When I have the time, I may post further on this with a link etc.
Since both Rio [Winu] and Newcrest [Havieron JV GGP] are the hotspots at Paterson Province, Western Australia, all the mining community will be following progress at both these said projects.
I have also posted at London South East RIO forum relating to Diggers & Dealers Mining Conference in Kalgoorie, Australia on Mon 5 Aug 2019 [attribution & thanks to PaddyGall for the info & link]. Both Rio Exploration and Newcrest [Exploration Manager] at presenting on the 1st day of this Conference.
If any Australian is attending, we may hear more from Rio & Newcrest on their Paterson Province, W.A exploration etc.
Sat, 27 July 2019 at 7.46pm.
On 25 July 2019, Newcrest reported their Quarterly results.
This was where Newcrest revealed their 1st assay results for Havieron Hole 6 Extension [1,216m] , Hole 10 & Hole 11 at Paterson Province, W.Australia [JV with Greatland Gold #GGP]
Similarly, Rio*s Winu [also in the Paterson Province, W.Australia ]1st assay results was also for 11 holes.
https://www.miragenews.com/rio-tinto-exploration-update-winu-project/
dated 6 June 2019
"As announced on 27 Feb 2019, Rio Tinto has discovered... for the 11 diamond drill holes reflecting drilling to end of 2018."
"The next phase of reverse circulation [RC] and diamond drilling [DC] is underway to f u r t h e r define the mineralisation EXTENT & CONTINUITY and results will be reported in a subsequent release in Q3, 2019. There are currently 8 diamond rigs, 3 RC rigs and a waterbore rig drilling at Winu."
Comment:
Majors tend to follow a certain style when reporting on 1st assays on a project per Paterson Province, W.Australia? So, we have 2 majors reporting 1st assays at Paterson Province, W.A. & both reported 741m [Rio] & over 700m [Newcrest Hole 6 Extension at Havieron] as the featured holes. I stated that on the Carraway map on Paterson, Rio*s said result was listed on the map of 741m. Havieron was also listed for the result under Greatland Gold.
News,
Sat 27 July 2019 at 7.35pm
contd:
So, one could evaluate the Havieron project.
So, research was helpful in pre-evaluating Havieron prior to the Newcrest/GGP Joint Venture?
The other big player is Rio at Winu [structural corridor to Havieron] in Paterson Province, Western Australia. The other player is Fortescue [Australia].
Once Newcrest released drill results at Havieron [Newcrest/GGP Joint Venture] at its Qtr Results on 25 July 2019 [Hole 6 Extension, Hole 10 & Hole 11 top line], we read that Rio "latest chatter about the find includes talk that Rio is preparing to start some s t e r i l i s a t i o n drilling in preparation for the position of mine INFRASTRUCTURE." [See Barry Fitzgeralds latest article: "The buzz is around Rio*s big Winu copper find", Livewire, 25 July 2019. ]
Barry Fitzerald: "Newcrest, a long time resident of the Paterson from its ageing Telfer gold-copper mine, added to the Paterson*s HOTSPOT STATUS this week with its reporting of f i r s t drill results from its recently entered in to Havieron Joint Venture with London *s Greatland."
"Centred on a DEEPLY BURIED MAGNETIC ANOMALY 45km east of Telfer, a new exploration campaign started in the qtr with 2 rigs, since increased to 3."
Mr Fitzgerald gives the details on Hole 6 Ext and mentioned Fortescue as well pegging land at Paterson.
Link: https://www.livewiremarkets.com/wires/the-buzz-is-back-around-rio-s-big-winu-copper-find
Comment:
Newcrest*s drill results for Havieron Hole 11 mentioned grades increasing with depth for copper. This will be interesting if more details are released other than top line results eg local values up to 2.3% Cu etc?
From Caesar*s Reports [2], it appears that Newcrest is interested in the deeper parts of Havieron and per their own latest Qtr*s, new zones are also the focus?
DYOR. Please check as there can be copying errors. On Hotcopper, there is facility to use underline. I use caps instead and I find it helpful when I am trying to locate data as I can see the key words.
Sat, 27 July 2019
Newcrest*s Annual Mineral Resources & Ore Reserves Statement as at 31 Dec 2018 via Ann. on 14 Feb 2019. This is the latest as the next Newcrest announcement on reserves will be around 14 Feb 2020 for 2019.
Quote:
"Group Ore Reserves: As at 31 Dec 2018, Group ore reserves are estimated to contain 5 4 m il l i o n ounces of gold , 7 million tonnes of copper & 36 million ounces of silver."
"This represents a DECREASE of approx. 8.1 million ounces of gold [-13%] , 3.5 million tonnes of copper [-34%] & 0.6 million ounces of silver [-2%] as c o m p a r e d with the estimate as at 31 Dec 2017.
Link: https://www.newcrest.com.au/media/resource_reserves/2018/Ore_Reserves.pdf
My Comment:
I had read a report that Newcrest, like other majors need to replenish their reserves etc. So, I decided to follow up on this.
So, what does Havieron [Newcrest/GGP Joint Venture] mean to Newcrest? [Hypothesis]
Telfer {Newcrest] according to some maps show 27 million ounces of gold whilst others show 32 moz of gold.
Since Commodity Discovery Management [see my last post on this forum at 22:24] has stated that "An Indication that HAVIERON MIGHT BE TELFER*S SISTER",
it appears rather obvious that Havieron could be material [caveat: if all plays out etc ?]. The Newcrest / GGP Paterson JV licences also means that Newcrest could be given 1st right of refusal for GGP*s Blackhills, Paterson East etc if there are DISCOVERIES [See Caesar*s Report within this thread].
<>My Posts on Havieron, Paterson, Western Australia
I had done 3 pieces of research p r i o r to the release of Hole 5 results at Havieron [under GGP and pre-Newcrest JV] . I checked the geological meaning & visuals from the RNS as to what to expect from the Hole 5 results. The share price was then 1.28-1.3p for some time. Hole 5 did turn out to be head turning & subject to so much news reporting both in the UK and Australia. So GGP*s RNS did give indicators.
Secondly, I did research from the historical early drill results from Newcrest*s Telfer mine [standard analysis by all the players at Paterson and mentioned by Sprotts Report] p r io r to Newcrest releasing assay results for the Havieron JV with GGP. Newcrest*s results for Hole 11 at Havieron appears to show that it is akin to Telfer style? However, the surprise is the deeper depths at Hole 6 Extension & potentially Hole 11 awaited [Newcrest*s results].
Per Commodity Discovery Management, it was stated:
"Once the similarities of the geological setting of these TWO projects, an indication that Havieron might be Telfer*s Sister, Newcrest PROPOSED to Greatland Gold #GGP to be the operator of the project."
So, Newcrest compared or saw s i m i l a r i t i e s of Telfer to Havieron [GGP]. Similarities would appear to be objective ie drill results/ geology etc. From research of Telfer*s drill results compared to Hole 5 Havieron, one could tell that it appeared to be better than Telfer? So, one could eval
From Commodity Discovery Management B.V [NL] :
Havieron [Newcrest /Greatland Gold #GGP Joint Venture] "The project is only 40km East of Telfer gold mine, just around the corner from a geological perpective."
"This mine, which is , which is in its final gasp had a deposit of 27 million ounces of gold and operated by Newcrest. Once the s i m i l a r i t i e s of the geological s etting of these t w o projects were recognised, an indication that HAVIERON MIGHT BE TELFER*S SISTER, Newcrest proposd to Greatland Gold to become the operator of the project."
"This is a great deal for Newcrest. Despite the old Telfer mine being on its last legs, gold production in the Paterson might continue for much longer. The ore can be transported cheaply by truck. At the same time, a m i l l does not have to be built for Havieron and this makes the project more e c o n o mically v i a b l e. Savings here can quickly add up to HALF A BILLION DOLLARS."
"The small print indicates that Newcrest will also benefit from any n e w discoveries on the Greatland property."
"Greatland has drilled a number of holes in the Havieron project with IMPRESSIVE results. The highlight hole returned almost 5 GRAMS of gold per tonne over 275 metres, at the end of last year. To put this in perspective, the MONSTER discovery of Aurelian Resources in Ecuador in 2006, started with a SIMILAR HOLE. We therefore immediately bought a 1st POSITION, and now own more than 1% of this London listed co."
"The 2nd major discovery in the Paterson area was made by Rio Tinto..."
Link: https://www.cdfund.com/en/you-find-a-new-mine-next-to-an-old-mine/
The London-listed co mentioned in the above refers to GGP.
Relating to David Lenigas*s tweet today, Fri 26 July 2019, it appears that there are further assay results to come on Newcrest*s Hole 11 at Havieron [JV with GGP]?
The maths relating to 2,800 metres drilled and the assay results of Hole 6 Extension, Hole 10 & Hole 11 does appear to suggest that Hole 11 went deeper than 838m as the objective target was at least 1,000 m?
On reading the RNS from GGP of 25 July 2019 [Thur] it stated that it was confirmed that copper grades are increasing with depth [see my 16:56 post] with local values up to 2.3% cu copper.
Copper!?
Interesting.
Fri, 26 July 2019 at 9.30pm
News
I have checked Greatland*s website on Paterson which is now under Newcrest relating to Havieron, Paterson, W.Australia.
The depth is 1,400 metres and beyond.
Link: https://greatlandgold.com/paterson/
Please check.
Fri, 26 July 2019 at 7.45pm
My last post:
Newcrest confirmed that copper grades are increasing with depth re: Havieron Hole 11 [Newcrest drilling].
Grades increasing with depth reminds me of Solgold*s Cascabel wherein the CEO then said the same thing.
Antipa*s [in the structural corridor to Rio*s Winu and Havieron [Newcrest/GGP] at Paterson, W.Australia] stated in their July 2019 Presentation for Noosa Mining Conference [ Link: www.antipaminerals.com.au ]
"Pg 6 Provides ore forming environment similar to porphyry copper gold]."
r to
Comment:
With such depths to 1,216 metres at Hole 6 Havieron Extension recently drilled by Newcrest, it does appear to be in the style of porphyries?
Greatland Gold is being kept informed of the progress of drilling at Havieron by Newcrest. See link: https://twitter.com/LONDONAIMCAP/status/1152313184264630286
Quote: "Greatland expects to continue to receive regular u p d a t e s as the programme progresses." 19.7.19
Gervaise Heddle, CEO of GGP said that the next 15,000 metres of drilling by Newcrest will have a lot of results.... [Link: https://twitter.com/GervaiseHeddle [see his Proactive Interview video on 25 July 2019 per Newcrest results on Havieron]
From the Newcrest Havieron, Paterson, Western Australia on 25 July 2019 [Thur]D:
Total of 2,800 metres drilled for Hole 6 Extension, Hole 10 & Hole 11.
Per Caesar*s Report, the program would reach 1,000 metres.
So, Newcrest8s Hole 6 Extension went from 838 metres [initially drilled by Greatland Gold at Havieron] to 1,216 metres [further 378 metres].
Hole 10 Havierion -Newcrest traversed over the top of the mineralised zone.
Hole 11: Per Newcrest: "C on f i r m e d that copper grades are i n c r e a s i n g with depth, with local values u p to 2.3% Cu copper include:
39 metres 1.1 g/t Au gold & 0.82% cu from 754 metres and 14m at 2.9g/t Au gold
48 metres at 0.59 g/t Au and 0.9% cu FROM 838 m.
Comment:
So, for a total of 2,800 metres for Hole 6 Extension, Hole 10 & Hole 11, David Lenigas per his said tweet today is expecting more assay results for Hole 11. Not difficult to see why?
Also, interesting about "confirmed copper grades are increasing at depth."
Newcrest*s next steps per 25 July 2019 GGP RNS:
"Further define the extent of the u p p e r gold zone."
"Test the d e p t h extents of the mineralisation and associated magnetic a n o m a l y and search for a d d i t i o n a l zones."
"Greatland Gold attracts Newcrest Mining as partner at Havieron."- Caesars Report,1 April 2019
https://www.caesarsreport.com/blog/greatland-gold-attracts-newcrest-mining-as-partner-at-havieron/
Quote:
"That being said, it*s important to emphasize there are s e v e r a l h i g h grade zones within this 121 metre interval and that will be very likely be the main focus of the u p c o m i n g exploration programs, and the main reason why Greatland is bringing in Newcrest."
"...established its 70% ownership in the project, it will be allowed to purchase a f i n a l 5% based on fair market value, which will probably be a NPV-based v a l u e."
Comment:
This is now post Newcrest*s release of assay results for their 1st stage drill [started 22 May 2019] on Thur 25 July 2019 [Qtr results]. The Newcrest results did show that it was the higher grades they were targeting per Caesar*s Report.
In term of the said 5% which Newcrest can purchase of Havieron - GGP after the 70% mark, Caesars views fair value being NPV value.
Most majors want to acquire at least 51% in any project as they can then become the operator of the project. BHP also wanted to invest in Solgold if they offered 70% of Cascabel [out of their 85% stake] for US$250 million. So, appears standard?
Newcrest said in their Qtr Report on 25.7.19 on Havieron that they are looking to further zones at Havieron, Paterson, Western Australia.
Fri, 26 July 2019
"Newcrest and Greatland Gold start drilling at Havieron."-Caesars Report, 18 June 2019
https://www.caesarsreport.com/blog/newcrest-and-greatland-gold-start-drilling-at-havieron
Quote:
"The initial drill program will consist 10,000 metres of drilling to define the e x t e n t along s t r i k e and at [ s u b s t a n t i a l] d e p t h as some of the drill holes will be drilled to 1,000 metres. The drill program started in the final week of May and we will probably see f i r s t a s s a y results in July."
Comment:
So, Newcrest*s Hole 6 Extention at Havieron went further than 1,000 metres to 1,216 metres. Newcrest started drilling on 22 May 2019 and no one knew when the assay results would be out so Caesar*s Report was correct as Newcrest released first assay results on Thur, 25 July 2019 via a Ann at their Quarterly Report.
Posting as I had tweeted this but it possible no one saw it as it was not tagged #ggp then or #newcrest.
Newcrest Hole 6 Havieron [Extension hole from GGP*s earlier drill]
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Per the info, Hole 6 at 1,216 metres is the "deepest" hole at Havieron.
Per my view, it is possible they may go deeper than 1,216 metres as & when?Reason is that the chart shown by Newcrest on 25 July 2019 [Qtr Report] shows that it is " o p e n" at depth & to north & south.
Newcrest gave out results as "over 700m" for Hole 6 extension at 52m at 7g/t & 7m at 21 g/t. Alistair Ford calls these "very high grades" in his said interview today, Fri 26 July 2019.
For world class holes, Anglo American had 717m at 3.6% cu copper and ranked No 1. Solgold*s ranked holes 5,9,12, 23R, 17 go to some 1560 metres at 0.59g/t gold & 0.54% cu copper [Hole 10 at Cascabel] with an equivalent of 0.93 Cu Eq. These were ranked 10,11,15, 18, 25 & 29 of world class best porp copper-gold intersections. So, ranking gives an idea and forms a comparitive or benchmarking [mgm term] otherwise how would DL know and tweet: "..probably best hole in the world."
Rio*s Winu, also at Paterson, Western Australia [structural corridor to Newcrest/GGP*s JV Havieron], their best recorded hole was : 741 metres from 68m grading 0.45% copper and 0.52g/t gold . See map via https://stockhead.com.au/resources/carawine-is-chasing-giants-in-victoria-and-wa/ 22 July 2019
Carawine refers Rio*s Winu with best result on map + Havieron [GGP] best result of 275m at 4.77g/t and 0.61% cu copper. It is standard to show the best result in the region as a comparitive or called benchmarking.
For this reason, the over 700m at 52m at 7g/t & 7m at 21g/t is quoted by Barry Fitzerald in his latest article on Rio*s Winu , Gervaise Heddle [CEO of GGP] , Alastair Ford, Mining Analyst today etc.
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I read on a Canadian site that NCM has a assay lab at Telfer but will not be using this for Havieron assays. Many co*s also use XRF prior to assay testing at labs. From the Qtr Report from Newcrest on 25 July 2019, they stated that they photograph the core prior to it going to the labs etc.
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Await Hole 11 results as per David Lenigas*s tweet in this thread.