Newcrest at Havieron, Paterson20 Nov 2019 12:15
"GGP: Developing the Paterson*s next major gold project alongside leading resource player Newcrest..." 1 hr ago, Wed 20 Nov 2019
https://twitter.com/theminingmaven/status/1197092423983341568
https://miningmaven.com/media/attachments/2019/11/19/ggp-report-for-web.pdf
In Mar 2019, Newcrest farmed into Havieron via a US$65m deal. [Intro]
Some highlights:
"Pg 7: How big is Havieron? As it stands, consensus for Havieron*s resource is between 3Moz-4Moz of gold equivalent. Indeed, this is the minimum fig was quoted in a research note on Greatland by Numis in Aug 2019."
"At an assumed grade of 2g/t, this figure indicates that the Havieron deposit contains between 50Mts & 60Mts of Mineralised Material. However, there is an increasing bank of evidence to suggest that Havieron could,in fact, be significantly larger than this."
"Firstly, 3D g r a v i ty & m a g n e t i c models completed by Greatland before the farm-in indicated that the potential for mineralisation to extend from (c) 400m below surface to 1,200m across some 300m."
"Secondly, drilling has already c o n f i r m e d that mineralisation has been observed over 950m v e r t i c a l extent and has e x t e n d ed the deposit to the n o r th & w e s t."
"Even so, it is quite possible Havieron contains in excess of 100Mts of mineralised material..in excess of 5Moz."
"Regardless, Newcrest*s ongoing commitment to further drilling is strongly suggestive of its ambitious attitude towards Havieron..there are plenty of indicators that Havieron could play host to a much larger gold deposit than the m a r k e t currently a s s u m e s."
"Newcrest*s most recent drilling results came in Oct 2019..4 sub-vertical zones of higher grade mineralisation within a larger mineralised envelope. ..extended Havieron*s envelope to the n o r t h & at depth." ["over 950m vertical, up from 700m."
My Comment:
Numis broker report was first reported in parts by Proactive Investors and the above gives a bit more detail.
Newcrest*s latest ann on 23.10.19 gives results from Havieron Hole 14-18. [Greatland drilled 9 holes and obtained the Newcrest farm-in. Newcrest then drill Havieron Hole 10-14 and said that Hole 19-33 is in various stages of progress on 23 Oct 2019.
Numis*s gave the dimensions for Havieron as 300m [across], 200m [height] and 800m [depth] at 2g/t per their broker report via Proactive Investors.
Sprotts on 14Jan 2019 did a broker reports and used 80m radius with the various sensitivity chart to give Moz starting from an assumption of 2g/t, depth extent 800m based on a cylindrical resource with a "80m radius" to be 3.103 Moz. For 1,000 extent, it then goes to 3.879Moz [same assumptions at 2g/t].
SATELLITE IMAGERY
From the latest seen as at mid-Nov 2019, the tool measured it at 1,200m across [Greatland cites 1,000m x 1,000m as the anomaly and 1.5m as the strike].
It appears that the latest drilling is now Havieron South & North on the W e s t e r n
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