Newcrest?s Gosowong gold production up slightly in July-Sep. quarter

Australian gold miner Newcrest Mining Limited announced on Monday that gold production from its mine in Gosowong, Maluku province in July-September quarter of 2001 was 76,215 oz, slightly increased compared to last year?s corresponding period of 75,655 oz.

The company said in its quarterly statement it processed 59,805 tons of ore at a grade of 40.6g/t Au with a gold recovery of 97.5 percent.

Newcrest reported no significant security disturbance that might affect production during the quarter despite the fact that Maluku was one of the religious conflict prone province.

Meanwhile the company said exploration in Gosowong district continued with resource definition drilling continued on the mineralized vein zones at Toguraci, which is located 2 km west of Gosowong.

According to Newcrest, the Toguraci prospect is located within protected forest and special permitting is being pursued for a mining operation.

Investigations at the Tobobo prospect had also located two gold mineralized veins for drill testing, said Newcrest.

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