Newcrest reports N. Maluku gold output, exploration
Tuesday, January 24 2012 - 03:33 AM WIB
Operation
Gosowong, Halmahera Island, N. Maluku (82.5%)
Gosowong?s December quarter performance was 107,500 ounces of gold at a cash cost of A$404 per ounce. This compares with the September quarter performance of 79,798 ounces of gold at a cash cost of A$508 per ounce.
Gold production was 35% higher than the previous quarter due to record mill throughput. Gold feed grade and recoveries were consistent with the previous quarter. Underground mining continued in the K1, K2 and K-Link orebodies. Waste movement continued on the Gosowong open pit cutback in preparation for the expected commencement of ore production in the June 2012 quarter.
Total site costs were consistent with the previous quarter, with lower unit cash costs reflecting increased gold production.
Exploration
Exploration at Gosowong was ongoing on three fronts including step out drilling for incremental growth of known resources at Toguraci and Kencana, and discovery exploration for new resources elsewhere in the Contract of Work. At Toguraci two new high grade epithermal vein intercepts were reported including:
- NTD035 4.1m (3.8m)5 @ 15g/t Au from 337.6m
- NTD032 2.4m (2.3m)5 @ 34g/t Au from 297.4m
These results indicate that a new structure well north of the known Toguraci shoots may be present. Follow up drilling is ongoing to determine the size and grade of the mineralisation.
At Kencana, underground drilling tested extension targets in and around the K1 and K2 shoots. Drilling within the K1 North resource has returned a high grade intercept of 3.9m (3.1m)5 @ 205g/t Au from 146.6m extending the high grade mineralisation within the known resource down plunge.
Step out drilling to the south of the K2 shoot also returned some strong results including:
- K2D061 13.3m @ 58g/t Au from 59.9m
- K2D119 22.3m @ 33g/t Au from 44.1m
These intercepts occur outside the current resource and indicate potential for incremental growth to the south. (end of edited excerpt)