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Newcrest Mining Ltd.
Summary
| Project: | Gosowong | |
|---|---|---|
| Deposit: | Gosowong | |
| Location: | Indonesia | |
| Commodities: | Gold-Silver | |
| 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 Gosowong deposit at the Gosowong project. JV - Annual update of mineral resources and ore reserves. Newcrest Mining Limited has updated its Mineral Resource and Ore Reserve est | |
| Resources: | (Reserve, Prob.): 1.9Mt @ 9.7g/t Au for 0.58Moz Au insitu contained at project | |
| CP/QP: | [Resources]: Rob Taube (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. All economic mineralisation at Gosowong is of low sulphidation epithermal type occurring as mineralised fault systems resulting from high temperature gold and silver bearing hydrothermal fluids. The ore shoots are narrow and approximately planar although irregular and complex in local detail. The deposits are relatively moderate to low in dip averaging around 40-50 degrees in the Kencana – Gosowong structural corridor and sub-vertical in the Toguraci corridor. Silver to gold ratio in the ore is approximately 1:1. The Gosowong Mineral Resource estimate is a combination of Mineral Resources estimated for the Kencana orebodies (K1, K2 and K-link), Toguraci orebodies (Damar, Yahut-BOD, Midas, Wulan and Kayu Manis), Gosowong Underground, Gosowong tailings and stockpiles. A review of the long term cost base assumptions for Ore Reserves and Mineral Resources estimates was conducted during 2016 as part of the routine annual update process. | |
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