Newcrest announces Kencana resource estimate

Australian gold miner Newcrest Mining Limited announced on Tuesday that it had managed to increase gold resources from its gold prospect in Halmahera island, North Makulu province.

The company said in a statement released to the Australian Stock Exchange that Kencana initial resources estimate, which remained restricted to a portion of mineralization only, had resulted in total Inferred and Indicated Resources of 0.84 million tons at 41 gram/ton au for 1.1 million ounces of gold.

Newcrest said further drilling and studies were required before feasibility study was undertaken and necessary permits sought.

Newcrest had already in latter stage of development to commence gold production from Toguraci mine, which is located close to Kencana prospect.

Beside Kencana, Newcrest also conducts exploration in Kayu Manis prospect.

Newcrest holds 82.5 percent equity in PT Nusa Halmahera Mineral, which runs the Halmahera gold mine, while state miner PT Aneka Tambang Tbk, holds the remaining 17.5 percent. (alex)

Kencana resource estimate

Category	Tonnes Mt	Grade Au g/t	Gold Insitu MOz	Grade Ag g/t	Silver Insitu MOz
Indicated	0.31	69	0.68	46	0.46
Inferred	0.53	26	0.44	48	0.83
Total	0.84	41	1.1	47	1.3