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Newcrest Mining Ltd.
Summary
| Project: | Lihir | |
|---|---|---|
| Deposit: | Lihir | |
| Location: | Papua New Guinea | |
| Commodities: | Gold | |
| 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 Lihir deposit at the Lihir project. Annual update of mineral resources and ore reserves. Newcrest Mining Limited has updated its Mineral Resource and Ore Reserve estimates for | |
| Resources: | (Reserve, P+P): 360Mt @ 2.3g/t Au for 26Moz Au insitu contained at project | |
| CP/QP: | [Resources]: Glenn Paterson-Kane (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. The Lihir Gold Mine is located on Niolam Island, 900 kilometres north-east of Port Moresby in the New Ireland Province of Papua New Guinea. As Niolam Island is the principal island of the Lihir Group, it is generally referred to as Lihir Island. The Lihir Gold Mine is 100% owned by Newcrest and became part of Newcrest in September 2010 with the merger of Lihir Gold Limited and Newcrest. The Lihir Gold Mine consists of three linked open pits, Minifie, Lienetz and Kapit, that will be mined over the project life. The mine operates by conventional open pit methods. The plant's facilities first crush and grind the ore. A flotation plant is used to concentrate ore, in addition to direct fed ore, before it is fed to autoclaves for pressure oxidation followed by conventional CIL technology to recover gold. The Lihir resource model was updated in October 2012 with the inclusion of data from additional drilling data and is based on the data from approximately 2,250 drill holes completed since project inception up to July 2012. This resource model remains unchanged. | |
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