Newcrest Mining has returned promising assays at the Havieron joint venture gold project in Western Australia, indicating growth in its mineral resource outside of the current estimate.
Greatland Gold signed a farm-in agreement with Newcrest to form the Havieron JV in March 2019.
Havieron’s initial inferred mineral resource, which was recorded in December 2020, contained 3.4 million ounces of gold and 160,000 tonnes of copper.
Newcrest’s drilling activity at the South East Crescent zone near Havieron has delivered assays of 133 metres at seven grams per tonne of gold and 0.05 per cent copper from 1446 metres, including 55.9 metres at 9.7 grams per tonne of gold and 0.04 per cent copper from 1449 metres.
This is around 250 metres below Havieron’s initial inferred mineral resource estimate, opening the door for further expansion.
Newcrest has uncovered higher grade zones in the Northern Breccia and Eastern Breccia zones of Havieron, which was also focussed on potential resource growth.
Assays from eight drill holes at Northern Breccia have been returned to Newcrest, with the latest drilling supporting extensions to breccia mineralisation.
Newcrest stated that drilling had also confirmed and increased the continuity of mineralisation at Havieron with a 300-metre north-west mineralised corridor remaining open at depth.
One drillhole at Northern Breccia returned 29.1 metres at 9.7 grams per tonne of gold and 0.29 per cent copper from 813.2 metres.
Newcrest has also continued drilling activity at the Red Chris gold mine in Canada to expand high grade mineralisation intersected at the East Ridge zone.
“We are excited by our continued exploration success at Red Chris and Havieron, with our extensive growth drilling programs delivering a number of new high grade intercepts in the period,” Newcrest managing director and chief executive officer Sandeep Biswas said.
“At Red Chris, results from our new East Ridge discovery demonstrate the continuity of mineralisation along strike and at Havieron we intersected several new high grade intercepts.
“These results continue to support the potential for resource growth outside of the existing resource shells.”