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Newcrest Mining Ltd.
Summary
| Project: | Namosi | |
|---|---|---|
| Deposit: | Namosi | |
| Location: | Fiji | |
| Commodities: | Gold-Copper | |
| Date: | 2/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 13-2-2017: Newcrest Mining Ltd. announces a Resource Estimation report for its Namosi deposit at the Namosi project. JV - Annual update of mineral resources and ore reserves. Newcrest Mining Limited has updated its Mineral Resource and Ore Reserve estimat | |
| Resources: | (Reserve, Prob.): 940Mt @ 0.12g/5t Au for 3.7Moz Au insitu contained at project | |
| CP/QP: | [Resources]: Vik Singh (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. 7. The Namosi Project is located in the south-eastern part of Viti Levu, the main island of the Republic of Fiji, 30km westnorthwest of the Fijian capital city of Suva. Newcrest entered into the Namosi Joint Venture (NJV) with Nittetsu Mining Co., Ltd and Mitsubishi Materials Corporation in 2007 and now holds a 70.75% interest in the joint venture and is manager of project activities. The known porphyry-style copper-gold systems in Fiji occur mainly in the southeast of Viti Levu. These are the Namosi deposits associated with diorite porphyry and quartz diorite porphyry including the Waisoi, Wainabama and Waivaka districts. The Namosi Project includes a Mineral Resource and Ore Reserve estimate for Waisoi and a Mineral Resource estimate for Wainaulo (both of which are contained in the Waivaka district). The Ore Reserve estimate for Waisoi is based on extraction via two open pits: Waisoi East and Waisoi West. The Namosi Joint Venture is not a material mining project for Newcrest. | |
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