Newcrest reports mineral resource at Havieron
PERTH (miningweekly.com) – Gold miner Newcrest Mining has reported an initial inferred mineral resource of 52-million tonnes, grading 2 g/t gold and 0.31% copper at its Havieron project, in Western Australia.
The project is estimated to contain some 3.4-million ounces of gold and 160 000 t of copper.
Newcrest in November this year reached its Stage 3 earn-in expenditure requirements, having spent $45-million on exploration, and is now entitled to earn an additional 20% interest in the JV, taking its overall share to 60%.
The company can take this stake to 70% by spending a total of $65-million and on completing a series of exploration and development milestones in a four-stage farm-in over a six-year period, which started in May last year.
In addition to continuing exploration work at Havieron, Newcrest is also conducting brownfield exploration at its Red Chris project, in Canada, and has entered into an exploration and farm-in joint venture (JV) agreement with Antipa Minerals over ground in the Paterson Province of Western Australia, known as the Wilki project.
The company is also undertaking exploration at the Juri JV with Greatland Gold, also in Western Australia, where it has been granted an initial 25% interest with the potential to earn up to a 75% stake in the project area by spending A$20-million over a five-year period.
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