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Newcrest Mining Ltd.
Summary
| Project: | Cadia Valley Operations | |
|---|---|---|
| Deposit: | Cadia - multiple | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 2/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 13-2-2017: Newcrest Mining Ltd. announces a Resource Estimation report for its Cadia - multiple deposit at the Cadia Valley Operations project. Annual update of mineral resources and ore reserves. Newcrest Mining Limited has updated its Mineral Resource a | |
| Resources: | ||
| CP/QP: | [Resources]: Stephen Guy (Internal) | |
| ABSTRACT: | Newcrest Mining Limited has updated its Mineral Resource and Ore Reserve estimates for the twelve month period ending 31 December 2016 and for this purpose, has completed a detailed review of all production sources. The review has taken into account updated long term metal prices, foreign exchange and cost assumptions, and mining and metallurgy performance to inform cut-off grades and physical mining parameters. In Cadia, gold and copper is associated with porphyry-style alteration and mineralisation. Minor molybdenum and silver is also present. Disseminated, vein and replacement mineralisation is found in and around Ordovician intrusions emplaced into volcanic and volcano sedimentary rocks. Metal is produced either in a copper concentrate containing elevated gold values or as gold doré. Concentrate is piped to a filter plant at the nearby town of Blayney before transport by rail to Port Kembla for export to international customers. The 100% Newcrest owned Cadia operations are located south of Orange in the central west of New South Wales. Mining commenced in 1998 with a large-scale open pit at Cadia Hill, followed by development of a bulk tonnage underground mine at Ridgeway. The Cadia East large scale underground Panel Cave mining operation reached first commercial production in January 2013. The Cadia Mineral Resources and Ore Reserves are reported and/or based on an estimated ‘value’ that incorporates the forecast revenue streams from both recoverable gold and copper, operating costs and the realisation costs (concentrate transport, smelting and refining). | |
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