Commodities, Exploration/Development, Gold, News

Newcrest looks to horde more Havierons in the Paterson

Gold

Newcrest Mining is committed to uncovering more high-grade gold deposits around the Havieron project in the Paterson Province of Western Australia by looking deeper under the surface.

The Havieron project is a joint venture (JV) between Newcrest and Greatland Gold.

Newcrest entered a six-year farm-in agreement with Greatland for Havieron in May 2019 and has since drilled 180,000 metres at the project.

Newcrest general manager Fraser MacCorquodale said the company is focusing on additional exploration targets around Havieron, which has an initial inferred resource of 3.4 million ounces of gold and 160,000 tonnes of copper.

“Over the past few years there have been some great exploration success stories coming out of Australia,” MacCorquodale said in a presentation at Diggers & Dealers 2021.

“The best example is the Havieron discovery by Greatland who were willing to drill holes up to a kilometre and the reward for both companies out of that has been fantastic.

“We’ve got a growth program in place right now and that is all about how we grow that resource base.”

According to MacCorquodale, the exploration targets looking to grow Havieron include the South East Crescent Deeps, which shows high-grade gold that is open at depth, the Northern and Eastern Breccia targets that also show open higher-grade mineralisation, as well as other geophysical targets surrounding Havieron.

The South East Crescent Deeps contain drilling results of 40.4 metres at 4.3 grams-per-tonne of gold and 1.6 per cent copper, and 85 metres at 11 grams of gold-per-tonne and 0.29 per cent copper.

“That mineralisation is still open – the drilling program is trying to find the extent of the high-grade and continuity of mineralisation,” MacCorquodale said.

Newcrest will be seeking a larger zone of mineralisation through its Northern and Eastern Breccia targets which could see similar results to Havieron’s existing North West Corridor.

“We’re drilling around those to define the footprint of the higher-grade and also to see if we can get that corridor to link to one bigger zone of mineralisation,” MacCorquodale said.

“The Eastern Breccia target only has a number of holes drilled so we still don’t have the geological controls and dimensions of the system.”

Newcrest said it is hoping to find further Havieron-like deposits around its existing project.

“This is all about (finding if there) are there more Havierons floating around Havieron,” MacCorquodale said.

“We’re looking forward to see what is coming out of our drilling programs.”

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