Newcrest doubles Kencana resource estimate
Thursday, October 14 2004 - 12:50 AM WIB
Australian gold mining firm Newcrest Mining Limited announced on Thursday new unaudited mineral resource estimate for the Kencana deposit at Gosowong, Halmahera island at 1.7 million tonnes at 41 grams gold per tonne for 2.2 million ounces.
The new resource estimate is an increase of 1.1 million ounces on the previous estimate reported in February 2004. Newcrest?s share of the new Mineral Resource estimate is 1.8 million ounces of gold.
Newcrest has an 82.5% interest in Gosowong and its joint venture partner Aneka Tambang holds the remaining 17.5%.
Kencana prospect is located adjacent to Toguraci mine, which was broght into production by the joint venture earlier this year. (alex)