Name of the Project
Havieron gold/copper project.
Location
Paterson region of Western Australia.
Project Owner/s
The project is a joint venture (JV) between Newcrest Mining and Greatland Gold.
Newcrest has the right to earn up to a 70% interest in the JV by completing a series of exploration and development milestones in a four-stage farm-in. Newcrest may acquire an additional 5% interest at the end of the farm-in period at fair market value.
Project Description
The project includes the construction of a boxcut, exploration decline and associated surface infrastructure.
The project has an initial inferred mineral resource estimate of 52-million tonnes at 2 g/t gold and 0.31% copper for 3.4-million ounces of gold and 160 000 t copper, presented on a 100% basis.
Mineralisation remains open in multiple directions outside of the initial inferred mineral resource estimate, which indicates the possibility that the resource could continue to increase over time with additional planned drilling activity.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The Newcrest board has approved A$146-million for the construction of the project.
Planned Start/End Date
Not stated.
Latest Developments
Newcrest has received the necessary regulatory approvals to start key early works activities at the Havieron project.
The early works programme includes construction of a boxcut, exploration decline and supporting surface infrastructure, including evaporation ponds, an explosives magazine, maintenance workshops, fuel facilities, an administration building and a laydown area.
Work is ongoing to finalise the water management plan for the early works programme and to progress further approvals and permits, which will be required to start development of any operating underground mine and associated infrastructure.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Newcrest Mining, tel +61 3 9522 5333 or email reception@newcrest.com.au.