Newcrest?s explorations show gold mineralization

Australian mining firm Newcrest Mining Limited said on Wednesday that explorations at the Kayu Manis and Kencana areas of its Gosowong mining concession in North Maluku had shown gold mineralization.

In an update report on its exploration activities, Newcrest said the TKD-26 and TKD-27 holes at Kayu Manis, drilled last October, had shown gold mineralization of 52 g/t each, extending close to the surface.

?At Kencana, results were received for holes DSD63-68 for part of DSD69 which had to be temporarily abandoned when drilling was suspended in late October 2003,? the company said in its statement to the Australian Stock Exchange.

Kencana?s hole DSD-69 would be re-entered in January 2004, it said.

Aside from Kayu Manis and Kencana, Newcrest also conducts mining activities at the Toguraci area of Gosowong. The firm is now the phase of ?pre-strip? development in the area and expects to start production there in February.

Newcrest holds 82.5 percent of PT Nusa Halmahera Minerals, which runs the Gosowong mining concession, while state-owned mining company PT Aneka Tambang Tbk. holds the remaining 17.5 percent. (Hotma)

Results from Kayu Manis area:

Hole TKD	Interval mdh	g/t Au	g/t Ag	From mdh
25	16.8	15	95	61.7
26	13.5	52	29	26.5
27	5.0	52	29	6.8
33	4.4	19	26	86.8

Results from Kencana area:

Hole DSD	Interval mdh	g/t Au	g/t Ag	From mdh
63	21.0	84	33	180.4
64	14.1	14	63	214.5
65	16.0	33	30	174.4
66	12.7	42	48	165.4
67	8.7	11	6.7	196.2
68	15.2	220	150	193.2
69	6.4	25	26	240.4