Outstanding recent drill results17 Jun 2020 01:14
Havieron significant results include:
HAD059 returned:
Newcrest Mining Limited – Exploration Update June 2020
109m @ 6.3g/t Au and 0.71% Cu from 668m
including 55.4m @ 11g/t Au and 0.79% Cu from 676.1m
HAD059W2
including 4m @ 78g/t Au and 1.2% Cu from 718m
returned:
166m @ 2.8g/t Au and 0.23% Cu from 794m
including 29m @ 12g/t Au and 0.19% Cu from 912m
HAD061 returned:
17.4m @ 15g/t Au and 2% Cu from 526m
including 1.7m @ 56g/t Au and 1.9% Cu from 534m
including 1m @ 103g/t Au and 3.5% Cu from 539.4m
HAD062 returned:
132.2m @ 4.3g/t Au and 0.49% Cu from 557.8m
including 54.4m @ 9.3g/t Au and 1.1% Cu from 557.8m
including 4.5m @ 66g/t Au and 2.6% Cu from 573.5m
HAD063 returned:
101m @ 4.6g/t Au and 0.36% Cu from 636m
including 26.9m @ 16g/t Au and 1% Cu from 640.1m
HAD066
returned:
o ** ?
? ?
o
? ?
Red Chris significant results include:
o
o
o
o
o and 3% Cu from 752m
o
o
o o o o
** partial intercept, assays pending; ^ updated intercept or ^^ previously reported in Quarterly Exploration Report dated 30 April 2020.
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-stage farm-in over a 6 year period that commenced in May 2020. 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 cover. Newcrest commenced drilling during the June 2019 quarter and has increased drilling activity since, such that nine drill rigs are now in operation. A further 20,200m of new drilling has been completed since the end of March 2020.
At Havieron, exploration programs have focussed on infill drilling (with nominal drill spacing of 50 – 100m laterally, and 100m vertically) to support a maiden inferred resource in the second half of the calendar year 2020, and step out drilling to define the extent of the Havieron deposit. The drilling results since the last Exploration Report continue to demonstrate the geological and mineralisation continuity over the upper 600m of the high grade “crescent” sulphide zone (previously referred to as the arcuate sulphide zone) below the post mineralisation cover.
The high grade sulphide zone forms a crescent shape:
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