Newcrest Mining (ASX:NCM) - Managing Director & CEO, Sandeep Biswas
Managing Director & CEO, Sandeep Biswas
Source: ABC
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Newcrest Mining (NCM) has found its best drill result so far at its Havieron Project in Western Australia
  • The significant intercept was 109 metres at 6.3g/t of gold and 0.71 per cent copper
  • The new results have extended the known mineralisation at the project by 220 metres
  • In Canada, Newcrest has reported infill drilling at its Red Chris gold and copper play has confirmed the continuity of high-grade mineralisation within the East Zone
  • As a result, follow-up drilling is planned for Red Chris
  • Newcrest is up 5.04 per cent on the market this morning, trading for $29.86 per share

Newcrest Mining (NCM) has found its best drill result so far at its Havieron Project in Western Australia.

The new results have extended the known mineralisation at the project by 220 metres.

The mining giant recently completed a step-out drilling program, which expanded the mineralisation footprint with hole HAD066. The hole drilled 220 metres north-west of the previous drilling, intersecting 82.1 metres at 2.4 g/t of gold and 0.08 per cent copper.

However, it was hole HAD059 which found Newcrest’s best significant intercept at Havieron to date, intercepting 109 metres at 6.3g/t of gold and 0.71 per cent of copper.

Drilling at the project is aiming to deliver the maiden inferred resource in the second half of this year, as well as defining the lateral and depth extents to the mineralisation.

Red Chris

In Canada, Newcrest has also reported positive results. Infill drilling at its Red Chris gold and copper play confirms the continuity of high-grade mineralisation within the East Zone.

Results from hole RC616 confirmed that the hole intersected a broad zone of high-grade mineralisation of 514 metres at 0.81g/t of gold and 0.57 per cent copper, including 80 metres at 3.4g/t of gold and 1.7 per cent of copper.

The company said this high-grade zone has not been intersected previously and “confirms the potential of finding additional discrete high-grade pods of mineralisation within the East Zone”.

Follow up drilling on this hole is currently underway.

Newcrest Managing Director and CEO, Sandeep Biswas, is pleased with the results from Havieron and Red Chris.

“At Havieron we have returned our best drill result to date and with the step-out drilling result we see real potential to further expand this orebody,” he said.

“Getting underground is now the priority and we continue to progress the work to commence decline development by the end of this calendar year or early 2021,” he added.

Newcrest is up 5.04 per cent on the market this morning, trading for $29.86 per share at 11:20 am AEST.

NCM by the numbers
More From The Market Herald

" Appen (ASX:APX) positioned to weather pandemic, reaffirms guidance

Data annotation and artificial intelligence company Appen (ASX:APX) has today reaffirmed its guidance for the 2020…

" Appen (ASX:APX) beats earnings guidance, outperforms a weak market

Data annotation and artificial intelligence specialist Appen (APX) has soared today after beating its earnings guidance…
Appen (ASX:APX) - CEO, Mark Brayan

" Appen’s (ASX:APX) shares rise on business restructure

Machine intelligence company Appen (ASX:APX) has made some changes to the structure of its business.
The Market Herald Video

" Appen (ASX:APX) receives $1.17b takeover bid from Canadian tech giant

Appen (ASX:APX) has received an unsolicited $1.17 billion takeover bid from Canadian telco giant Telus International.