Newcrest?s Gosowong gold output ups in Q4
Thursday, July 19 2001 - 06:49 AM WIB
Australian mining firm Newcrest Mining Limited reported on Wednesday higher production in Gosowong gold mine in North Maluku province during the fourth quarter ended June this year.
According to the company?s statement, Gosowong produced 75,655oz of gold, far higher than last year?s corresponding period production of 57,913oz. The company said the increase in production was due to higher ore grade.
Newcrest said, during the forth quarter, the company?s mill processed 55,278 ton of ore at a grade of 44.02 gram /ton of gold, as against last year?s corresponding period of 53,828 tons of ore at a grade of 35.23 gram/ton of gold with a recovery of 96.7 percent.
The company further said that extension in the North East corner of the Gosowong pit will contribute a further 45,000oz gold (in-situ) to the mineral resource.
Meanwhile Newcrest said that drilling at Toguraci (2km west of Gosowong) was focused mostly in the area of two mineralised vein zones - Midas and Damar, where narrow but high grade gold mineralisation has been intersected at shallow depth. Infill drilling is being conducted to investigate the mining potential of the mineralisation and this work will be completed in the next quarter.
Investigations continued to evaluate other identified quartz structures at Toguraci and at the nearby Tobobo prospect to the north.
Newcrest holds 82.5 percent stake in PT Nusa Halmahera Mineral, the mine operator, while state owned mining company PT Aneka Tambang Tbk holds the remaining 17.5 percent. (alex)