Newcrest Mining Limited – Exploration Update 10 June 2021

Highlights At Red Chris, drilling continues to expand the higher grade mineralisation intersected at East Ridge and in the Main Zone:At East Ridge, the new discovery adjacent to the East Zone, drilling continues to expand the footprint of the higher grade mineralisation with RC688 returning 344m @ 0.70gt Au & 0.75% Cu from 776m, incl. 170m @ 1.1gt Au & 1.1% Cu from 892m. This hole is 100m east of the discovery hole …

Highlights

  • At Red Chris, drilling continues to expand the higher grade mineralisation intersected at East Ridge and in the Main Zone:
    • At East Ridge, the new discovery adjacent to the East Zone, drilling continues to expand the footprint of the higher grade mineralisation with RC688 returning 344m @ 0.70g/t Au & 0.75% Cu from 776m, incl. 170m @ 1.1g/t Au & 1.1% Cu from 892m. This hole is 100m east of the discovery hole RC678 (previously reported).
    • East Ridge is located 300m east of East Zone and outside of Newcrest’s Red Chris Mineral Resource Estimate. Drilling to define the extent of the higher grade mineralisation is ongoing.
    • In the Main Zone, drilling has intersected high grade mineralisation with RC683 returning 300m @ 0.41g/t Au & 0.51% Cu from 260m, incl. 114m @ 0.67g/t Au & 0.85% Cu from 390m, incl. 22m @ 1.1g/t Au & 1.4% Cu from 464m. This hole is 100m east of RC679 (previously reported).
    • Main Zone has the potential for further higher grade mineralisation beneath and to the south west of the open pit.
  • At Havieron, growth drilling continues to return significant high grade extensions to the South East Crescent zone below the current Inferred Mineral Resource:
    • HAD133 returned 85m @ 11g/t Au & 0.29% Cu from 1345m, including 13m @ 32g/t Au & 0.46% Cu from 1363m, and including 14.5m @ 32g/t Au & 0.33% Cu from 1396.5m.
    • The high grade Crescent zone remains open at depth.

Newcrest Mining Limited (ASX: NCM) (TSX: NCM) Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said, “Our extensive growth drilling program has delivered several new exciting high grade intercepts at Havieron, including 85m @ 11gt Au and 0.29% Cu. These results highlight the potential for significant high grade depth extension of the South East Crescent zone. We are also excited by our continued exploration success at Red Chris, with drill results from East Ridge and Main Zone expanding the footprint of the higher grade mineralisation. East Ridge is our new discovery that is located outside of our initial Red Chris Mineral Resource estimate with drill results to date supporting the potential for resource growth at Red Chris over time. Drill results in the Main Zone have confirmed the potential for higher grade mineralisation which could support additional mining fronts beneath and to the south west of the open pit.”

Red Chris – Significant results since the March 2021 Quarterly Exploration Report([1]):

  • RC683:
    • 300m @ 0.41g/t Au & 0.51% Cu from 260m
    • including 114m @ 0.67g/t Au & 0.85% Cu from 390m
    • including 22m @ 1.1g/t Au & 1.4% Cu from 464m
  • RC684:
    • 252m^ @ 0.46g/t Au & 0.53% Cu from 814m
    • including 98m^ @ 0.85g/t Au & 0.86% Cu from 962m
    • including 16m^^ @ 1.2g/t Au & 1.2% Cu from 970m
  • RC688:
    • 344m @ 0.70g/t Au & 0.75% Cu from 776m
    • including 170m @ 1.1g/t Au & 1.1% Cu from 892m
    • including 78m @ 1.1g/t Au & 1.3% Cu from 894m

Havieron – Significant growth drilling results since the March 2021 Quarterly Exploration Report([2]):

  • HAD086W1
    • 99.7m @ 2.5g/t Au & 0.85% Cu from 1,308m
    • including 50.4m @ 4.3g/t Au & 1.6% Cu from 1,313.6m
  • HAD133
    • 85m @ 11g/t Au & 0.29% Cu from 1,345m
    • including 13m @ 32g/t Au & 0.46% Cu from 1,363m
    • including 14.5m @ 32g/t Au & 0.33% Cu from 1,396.5m

Red Chris, British Columbia, Canada(2)

Red Chris is a joint venture between Newcrest (70%) and Imperial Metals Corporation (30%). Newcrest acquired its interest in, and operatorship of, Red Chris on 15 August 2019.

The Brownfields Exploration program is focused on the discovery of additional zones of higher grade mineralisation within the Red Chris porphyry corridor including targets outside of Newcrest’s Mineral Resource estimate. During the period, there were up to eight diamond drill rigs in operation. A further 15,342m of drilling has been completed from 11 drill holes, with all drill holes intersecting mineralisation (except two which were dedicated geotechnical holes). This contributed to a total of 136,631m of drilling from 111 drill holes since Newcrest acquired its interest in the joint venture.

At East Ridge, located adjacent to the East Zone, Newcrest has discovered a new zone of higher grade mineralisation, with previously reported hole RC678^^ returning 198m @ 0.89g/t Au & 0.83% Cu from 800m, including 76m @ 1.8g/t Au and 1.5% Cu from 908m. The style of mineralisation and grade tenor is similar to that seen in the high grade pods from the East Zone.

Final results from follow-up drill hole RC684 drilled 100m down dip of RC678 returned 252m^ @ 0.46g/t Au & 0.53% Cu from 814m, including 98m^ @ 0.85g/t Au & 0.86% Cu from 962m. This hole demonstrates the continuity of the East Ridge zone over 100m vertically.

Results from follow-up drill hole RC688 drilled 100m east of RC678 returned 344m @ 0.70g/t Au & 0.75% Cu from 776m including 170m @ 1.1g/t Au & 1.1% Cu from 892m. This hole demonstrates the continuity of the East Ridge zone over 100m horizontally.

East Ridge is located 300m east of East Zone and outside of Newcrest’s Red Chris Mineral Resource estimate, and it supports the potential for resource growth over time. Mineralisation is open and extends the eastern side of the porphyry corridor as shown in Figures 1 and 2. Follow-up drilling to further define the extent and continuity of this high grade mineralisation continues.

In the Main Zone, drilling has confirmed the potential for further higher grade mineralisation which could support additional mining fronts, beneath and to the south west of the open pit. Results from RC679^^ (previously reported), which followed up historic results south west of the Main Zone pit, returned 456m^^ @ 0.37g/t Au & 0.42% Cu from 418m, including 98m^^ @ 0.71g/t Au & 1.0% Cu from 440m. Results from follow-up drill hole RC683 drilled 100m east of RC679 returned 300m @ 0.41g/t Au & 0.51% Cu from 260m, including 114m @ 0.67g/t Au & 0.85% Cu from 390m. This hole demonstrates the continuity of the higher grade mineralisation over 100m horizontally. The mineralisation is located within Newcrest’s Mineral Resource estimate. Drilling to define the extent and continuity of this high grade mineralisation is planned.

Approximately 50,000m of growth-related drilling is planned this calendar year with the increase to eight drill rigs in April 2021. Further drilling of the East Ridge is underway to define the extent of the mineralisation. Further targets along the porphyry corridor and neighbouring GJ property have been identified with the potential to conduct drilling to test these targets in the future.

Refer to Appendix 1 for additional information, and Drillhole data table for all results reported during the period.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_003.jpg

Figure 1. Schematic plan view map of the Red Chris porphyry corridor spanning East Ridge, East Zone, Main Zone and Gully Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases). 1 g/t AuEq and 2 g/t AuEq shell projections generated from a Leapfrog model. Gold equivalent (AuEq) grade calculated using a copper conversion factor of 1.67 ([gold grade (g/t)] + [copper grade (%) x 1.67]), using US$1,400/oz Au, US$3.40/lb Cu and 100% recovery.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_003full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_004.jpg

Figure 2. Long section view map of the Red Chris porphyry corridor showing drill hole locations and gold distribution.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_004full.jpg

Havieron Project, Western Australia3

The Havieron Project is operated by Newcrest under a Joint Venture Agreement with Greatland Gold. As announced on 30 November 2020, Newcrest has now met the Stage 3 expenditure requirement (US$45 million) and is entitled to earn an additional 20% joint venture interest, resulting in an overall joint venture interest of 60% (Greatland Gold 40%). Newcrest can earn up to a 70% joint venture interest through total expenditure of US$65 million and the completion of a series of exploration and development milestones (including the delivery of a Pre-Feasibility Study) in a four-stage farm-in over a six year period that commenced in May 2019. Newcrest may acquire an additional 5% interest at the end of the farm-in period at fair market value. The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program, Feasibility Study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer.

The Havieron Project is centred on a deep magnetic anomaly located 45km east of Telfer in the Paterson Province. The deposit is overlain by more than 420m of post mineral Permian cover. Newcrest commenced drilling in May 2019. Drilling activities from seven drill holes resulted in 5,757m of drilling completed since 31 March 2021, with all drill holes intersecting mineralisation. A total of 164,420m of drilling from 190 drill holes has been completed since Newcrest commenced exploration activity.

At the South East Crescent, growth drilling to expand the resource has commenced with two drill holes HAD086W1 and HAD133 extending the high grade mineralisation ~80m below the base of the Inferred Mineral Resource. These intercepts are also below previously reported hole HAD065W2^^ (120.7m @ 9.3 g/t Au & 0.18 % Cu from 1,349.3m, including 26.6m @ 34 g/t Au & 0.23 % Cu from 1,384.4m) and highlights significant high grade depth extension of the South East Crescent zone. Drilling continues to define the extent of the high grade South East Crescent zone.

Results from HAD086W1 and HAD133 include:

  • HAD086W1
    • 99.7m @ 2.5g/t Au & 0.85% Cu from 1,308m
    • including 50.4m @ 4.3g/t Au & 1.6% Cu from 1,313.6m
  • HAD133
    • 85m @ 11g/t Au & 0.29% Cu from 1,345m
    • including 13m @ 32g/t Au & 0.46% Cu from 1,363m
    • including 14.5m @ 32g/t Au & 0.33% Cu from 1,396.5m

HAD097W3 and HAD136 returned Crescent intercepts within the current Inferred Mineral Resource footprint. These holes were designed to target depth extensions in the breccia mineralisation. They also show good alignment with modelled grade and thickness within the South East Crescent zone which further supports the continuity of high grade.

Results include:

  • HAD097W3
    • 47.8m @ 2.3g/t Au & 0.28% Cu from 620.2m
    • including 28.3m @ 3.8g/t Au & 0.45% Cu from 639.7m
  • HAD136
    • 55.2m @ 2.5g/t Au & 0.65% Cu from 501m
    • including 24.5m @ 5.4g/t Au & 0.95% Cu from 506.8m

At the Northern Breccia results from an additional three growth holes identified mineralisation outside of the Inferred Mineral Resource footprint. These results support extensions to breccia mineralisation in the north west of the system and further highlights the potential for resource extensions outside of the South East Crescent zone.

Results include:

  • HAD089W1
    • 81.3m @ 1.2g/t Au & 0.04% Cu from 1,009.7m.

Currently, all drill rigs are operational on the growth drilling program with a focus on the South East Crescent depth extensions below 4,200mRL, the north west extensions of the Northern Breccia Zone and higher grade crescent-like mineralised zones. The intent of this drilling is to support the potential expansion of the existing Inferred Mineral Resource estimate. Drill testing and interpretation of the geological and mineralisation controls of the Eastern Breccia Zone is ongoing.

Further targets outside of Havieron, but within the joint venture area with Greatland Gold, have been identified with the potential to conduct drilling to test these targets in the future.

Refer to Appendix 2 for additional information, and Drillhole data table for all results reported during the period.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_005.jpg

Figure 3. 3D Plan view schematic showing the spatial association of the South East Crescent + Breccia, North West Crescent, Northern Breccia and Eastern Breccia targets.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_005full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_006.jpg

Figure 4. Plan view schematic of a horizontal slice at 4700mRL through the Crescent Sulphide Zone and Breccia-hosted Zones, showing the extents of the 0.5 and 1.0 g/t Au LeapfrogTM grade shells with highlighted newly reported intercepts for this period. Also shown is the Eastern Breccia, Northern Breccia and north-west extensions of known mineralisation outlines projected to the 4700mRL section – drilling is ongoing to confirm the extent of these zones.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_006full.jpg

Wilki Project, Western Australia

The Wilki Project covers a strategic landholding of ~2,200km2 surrounding the Telfer operation and is also in close proximity to the Havieron Project. Newcrest entered into this exploration farm-in and joint venture agreement with Antipa Minerals Limited on 11 March 2020.

During the period, Newcrest participated in Antipa’s share placements to maintain its 9.9% shareholding.

Exploration activity during the period included the re-interpretation and validation of anomalies generated from the previously reported Airborne Electromagnetic Survey (AEM) completed in CY20. Prioritisation of targets for the CY21 drill program has been completed utilising the AEM anomalies and other datasets including magnetics and geochemistry.

It is anticipated that the field program for the CY21 field season including drill testing will commence in June 2021.

Juri Joint Venture, Western Australia

On 30 November 2020, Newcrest announced its entry into the Juri Joint Venture which is a farm-in and joint venture agreement with Greatland Gold, with respect to its Black Hills and Paterson Range East projects, located within the Paterson Province approximately 50km from the Telfer operation. The joint venture covers an area of approximately 248km2.

Under the terms of the agreement, Newcrest has been granted an initial 25% joint venture interest with the potential to earn up to a 75% joint venture interest through total expenditure of A$20 million over a two stage earn-in, across a five year period. Greatland Gold will manage the Juri Joint Venture until the end of calendar year 2021, after which Newcrest has the right to be appointed as Manager.

Exploration activities have commenced with an initial program designed to drill test the Goliath, Outamind and Los Diablos targets in the Paterson Range East area. An initial scout drill program has been completed at the Goliath target with assay results pending. Subsequent work programs, including drilling, will also focus on the Parlay target within the Black Hills Project.

Tennant East, Northern Territory

Newcrest is the holder of six granted titles as well as seven application areas in the recently recognised Tennant East domain. Drill testing on the initial two target areas of Lantern and Sabretooth commenced in late April 2021.

Nevada, USA

Newcrest recently entered into an option and earn-in agreement with Discovery Harbour Resources Corp. on their Fortuity 89 property located in the Great Basin, Nevada. Fortuity 89 is characterised by limited outcrop in a large gravel covered plain. The limited outcrop is strongly altered, and other indications are consistent with the area having potential for epithermal gold mineralisation. On ground exploration work has commenced with target generation activities including mapping, sampling and geophysical surveys underway.

GJ Project, British Columbia, Canada

At the GJ Project, which is part of the Red Chris joint venture between Newcrest (70%) and Imperial Metals Corporation (30%), Newcrest is using its strong exploration expertise, to test the depth potential of the Donnelly Zone, part of a 10km porphyry corridor (Groat Stock). An initial program of two holes for 2,500m is planned to commence in the December 2021 half.

Appendix 1

Red Chris (70% Newcrest): JORC Table 1
Section 1: Sampling Techniques and Data

Criteria Commentary
Sampling techniques Core samples are obtained from core drilling. HQ and NQ diameter diamond core was drilled on a 3, 4.5m or 6m run. Core was cut using an automatic core-cutter and half core sampled at 2m intervals. Cover sequences were not sampled.
Drilling techniques Core drilling was advanced with HQ3, HQ, NQ3 and NQ diameter coring configuration.

Core from inclined drill holes are oriented on 3, 4.5m or 6m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line.

Drill sample recovery Core recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller’s depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled.

Core recoveries were typically 100%, with isolated zones of lower recovery.

Logging Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled -15,342m in 11 holes- all holes intersected mineralisation except for 2 dedicated geotechnical holes, including orientation of key geological features.

Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements.

Magnetic susceptibility measurements were recorded every metre.

All geological and geotechnical logging was conducted at the Red Chris Mine.

Digital data logging was captured, validated and stored in an acQuire database.

All drill cores were photographed, prior to cutting and/or sampling the core.

Sub-sampling techniques and sample preparation Sampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.

Core was cut and sampled at the Red Chris Mine core processing facility. Half core samples were collected in plastic bags together with pre-numbered sample tags and grouped in plastic bags for dispatch to the laboratory. Sample weights typically varied from 5 to 10kg. Sample sizes are considered appropriate for the style of mineralisation. Drill core samples were freighted by road to the laboratory.

Sample preparation was conducted at the independent ISO 9001 certified and ISO 17025 accredited Bureau Veritas Commodities Canada Ltd Laboratory, Vancouver (Bureau Veritas). Samples were dried at 650C, and crushed to 95% passing 4.75 mm, and the split to obtain up to 1kg sub-sample, which was pulverised (using LM2) to produce a pulped product with the minimum standard of 95% passing 106μm.

Duplicate samples were collected from crush and pulp samples at a rate of 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation.

Periodic size checks (1:20) for crush and pulp samples and sample weights are provided by the laboratory and recorded in the acQuire database.

Quality of assay data and laboratory tests Assaying of drill core samples was conducted at Bureau Veritas. All samples were assayed for 59 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method MA250). Gold analyses were determined by 50g fire assay with ICP-ES finish (method FA350). Carbon and Sulphur were determined by Leco (method TC000) and mercury using aqua regia digestion followed by ICP-ES/MS determination (method AQ200).

Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20).

Assays of quality control samples were compared with reference samples in the acQuire database and verified as acceptable prior to use of data from analysed batches.

Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats and grind size results are captured in acQuire database and assessed for accuracy and precision for recent data.

Due to the limited extent of the drilling program to date, extended quality control programs are yet to be undertaken, whereby pulped samples will be submitted to an umpire laboratory and combined with more extensive re-submission programs.

Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved and the database contains no analytical data that has been numerically manipulated.

The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results.

Verification of sampling and assaying Sampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core cutting. Corresponding sample numbers matching pre-labelled sample tags are assigned to each interval.

All sampling and assay information were stored in a secure acQuire database with restricted access.

Electronically generated sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the acQuire database.

Assessment of reported significant assay intervals was verified by re-logging of drill core intervals and assessment of high resolution core photography. The verification of significant intersections has been completed by company personnel and the Competent Person/Qualified Person.

No adjustments are made to assay data, and no twinned holes have been completed. Drilling intersects mineralisation at various angles.

There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data.

Location of data points Drill collar locations were surveyed using a RTK GPS with GNSS with a stated accuracy of +/- 0.025m.

Drill rig alignment was attained using an electronic azimuth aligner (Reflex TN14 GYROCOMPASS). Downhole survey was collected at 9 to 30m intervals of the drill hole using single shot survey (Reflex EZ-SHOT). At the end of hole, all holes have been surveyed using a continuous gyro survey to surface (Reflex EZ-GYRO).

Topographic control is established from PhotoSat topographic data and derived digital elevation model. The topography is generally low relief to flat, with an average elevation of 1500 m, with several deep creek gullies.

All collar coordinates are provided in the North American Datum (NAD83 Zone 9).

Data spacing and distribution The drill hole spacing ranges from 100 – 200m in lateral extent within an area of 1.5km2 at the East Ridge, 1.5km2 at the East Zone, 1.5km2 at the Main Zone and 1.5km2 at the Gully Zone.

No sample compositing is applied to samples.

Orientation of data in relation to geological structure Drilling of reported drill holes RC676, RC683, RC684, RC686, RC687 and RC688 are oriented perpendicular to the intrusive complex. The intrusive complex has an east-northeast orientation, with drilling established on a north-northwest orientation.

Drill holes exploring the extents of the East Ridge, East Zone, Main Zone and Gully Zone mineral system intersected moderately dipping volcanic and sedimentary units cut by sub-vertical intrusive lithologies. Steeply dipping mineralised zones with an east-northeast orientation have been interpreted from historic and Newcrest drill holes.

Sample security The security of samples is controlled by tracking samples from drill rig to database.

Drill core was delivered from the drill rig to the Red Chris Mine core yard every shift. Geological and geotechnical logging, high resolution core photography and cutting of drill core was undertaken at the Red Chris core processing facility.

Samples were freighted in sealed bags with security tags by road to the laboratory, and in the custody of Newcrest representatives.

Sample numbers are generated from pre-labelled sample tags. All samples are collected in pre-numbered plastic bags. Sample tags are inserted into prenumbered plastic bags together with the sample.

Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advice issued to Newcrest.

Details of all sample movement are recorded in a database table. Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to the laboratory analytical services. Any discrepancies logged at the receipt of samples into the laboratory analytical services are validated.

Audits or reviews Due to the limited duration of the program, no external audits or reviews have been undertaken.

Internal verification and audit of Newcrest exploration procedures and databases are periodically undertaken.

Section 2: Reporting of Exploration Results

Criteria Commentary
Mineral tenement and land tenure status Red Chris comprises 77 mineral tenures including five mining leases and is a joint venture between subsidiaries of Newcrest Mining Limited (70%) and Imperial Metals Corporation (30%). Newcrest Red Chris Mining Limited is the operator of Red Chris.

Newcrest Red Chris Mining Limited and the Tahltan Nation (as represented by the Tahltan Central Government, the Tahltan Band and Iskut First Nation) signed an updated Impact, Benefit and Co-Management Agreement (IBCA) covering Red Chris on 15 August 2019.

All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing.

Exploration done by other parties Conwest Exploration Limited, Great Plains Development Co. of Canada, Silver Standard Mines Ltd, Texasgulf Canada Ltd. (formerly Ecstall Mining Limited), American Bullion Minerals Ltd and bcMetals Corporation conducted exploration in the areas between 1956 and 2006.

Imperial Metals Corporation acquired the project in 2007 and completed deeper drilling at the East and Main Zones between 2007 and 2012.

Geology The Red Chris Project is located in the Stikine terrane of north-western British Columbia, 80 km south of the town of Dease Lake.

Late Triassic sedimentary and volcanic rocks of the Stuhini Group host a series of Late Triassic to Early Jurassic 204−198 Ma) diorite to quartz monzonite stocks and dykes.

Gold and copper mineralisation at Red Chris consists of vein, disseminated and breccia sulphide typical of porphyry-style mineralisation. Mineralisation is hosted by diorite to quartz monzonite stocks and dykes. The main mineral assemblage contains well developed pyrite-chalcopyrite-bornite sulphide mineral assemblages as vein and breccia infill, and disseminations. The main mineralisation event is associated with biotite and potassium feldspar-magnetite wall rock alteration.

Drill hole information As provided.
Data aggregation methods Significant assay intercepts are reported as (A) length-weighted averages exceeding 0.1g/t Au greater than or equal to 20m, with less than 10m of consecutive internal dilution; and (B) length-weighted averages exceeding 0.5g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution; and (C) length-weighted averages exceeding 1g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution; (D) length-weighted averages exceeding 5g/t Au greater than or equal to 10m, with less than 10m of consecutive internal dilution; and (E) length-weighted averages exceeding 10g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution. No top cuts are applied to intercept calculations.
Relationship between mineralisation widths and intercept lengths Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.
Diagrams As provided.
Balanced reporting This is the Twelfth release of Exploration Results for this project made by Newcrest. Previous release dates are 30 January 2020, 11 March 2020, 30 April 2020, 11 June 2020, 23 July 2020, 10 September 2020, 29 October 2020, 10 December 2020, 28 January 2021, 11 March 2021, and 29 April 2021.

Earlier reporting of exploration programs conducted by Newcrest and Imperial Metals Corporation have previously been reported. Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.

Other substantive exploration data Nil.
Further work Further drilling is planned to define the extents of the East Ridge, East Zone and Main Zone.

Drillhole data(1)

Red Chris Project, British Columbia, Canada

Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.1ppm (0.1g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Also highlighted are high grade intervals of Au >0.5ppm (0.5g/t Au), Au >1ppm (1g/t Au), Au > 5ppm (5g/t Au), Au >10ppm (10g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 10m. Gold grades are reported to two significant figures. Samples are from core drilling which is HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes.

Hole ID Hole Type Easting (m) Northing (m) RL (m) Total
Depth
(m)
Azimuth

(GRID)
Dip From
(m)
To (m) Interval
(m)
Au
(ppm)
Cu
(pct)
Cut off
RC676 DD 452008 6396133 1554 1505.4 145 -59 156 258 102^^ 0.26 0.06 0.1
incl. 166 176 10^^ 1.0 0.13 0.5
288 322 34^^ 0.14 0.05 0.1
460 486 26^^ 0.11 0.04 0.1
506 894 388^^ 0.34 0.30 0.1
incl. 700 712 12^^ 0.52 0.40 0.5
incl. 856 894 38^^ 0.64 0.51 0.5
906 964 58^^ 0.31 0.17 0.1
incl. 950 962 12^^ 0.60 0.20 0.5
1032 1332 300^ 0.28 0.27 0.1
incl. 1060 1080 20^^ 0.55 0.50 0.5
incl. 1100 1138 38 0.52 0.46 0.5
1392 1412 20 0.10 0.15 0.1
RC683 DD 451963 6395068 1537 1088.7 328 -59 260 560 300 0.41 0.51 0.1
incl. 390 504 114 0.67 0.85 0.5
incl. 464 486 22 1.1 1.4 1
660 690 30 0.10 0.06 0.1
826 900 74 0.13 0.10 0.1
914 1088.45 174.45 0.41 0.18 0.1
RC684 DD 453252 6396600 1420 1475.7 147 -63 550 606 56^^ 0.12 0.01 0.1
748 786 38^^ 0.28 0.34 0.1
814 1066 252^ 0.46 0.53 0.1
incl. 962 1060 98^ 0.85 0.86 0.5
incl. 970 986 16^^ 1.2 1.2 1
incl. 1016 1030 14^^ 1.1 1.1 1
incl. 1044 1054 10 1.1 1.0 1
1360 1382 22 0.11 0.04 0.1
1394 1420 26 0.11 0.10 0.1
RC685 DD 452533 6396281 1508 1202.3 149.9 -55 Development Hole
RC686 DD 451569 6395560 1526 1085.0 147.9 -59 386 454 68 0.12 0.11 0.1
522 548 26 0.10 0.03 0.1
572 600 28 0.12 0.04 0.1
618 682 64 0.13 0.07 0.1
822 1020 198 0.29 0.25 0.1
incl. 990 1002 12 0.59 0.18 0.5
RC687 DD 453126 6396509 1445 1480.8 149.8 -58 616 646 30 0.12 0.16 0.1
714 1030 316 0.26 0.34 0.1
incl. 786 802 16 0.59 0.66 0.5
1062 1090 28 0.12 0.21 0.1
1224 1256 32 0.17 0.02 0.1
1268 1314 46 0.15 0.02 0.1
1360 1450 90 0.12 0.02 0.1
RC688 DD 453385 6396598 1415 1535.5 146 -61 674 700 26 0.12 0.15 0.1
726 760 34 0.15 0.14 0.1
776 1120 344 0.70 0.75 0.1
incl. 892 1062 170 1.1 1.1 0.5
incl. 894 972 78 1.1 1.3 1
incl. 988 1062 74 1.2 0.90 1
incl. 1080 1104 24 0.74 0.87 0.5
1132 1214 82 0.18 0.35 0.1
1244 1272 28 0.13 0.29 0.1
1320 1352 32 0.10 0.02 0.1
RC689 DD 452677 6396314 1492 827.9 147.5 -57 Development Hole
RC690 DD 452587 6396286 1507 1226.6 148 -60 Development Hole
RC691 DD 452550 6396348 1495 1252.9 148 -60 Development Hole
RC691W DD 452551 6396346 1498 842.2 148 -60 Development Hole
RC692 DD 453147 6396820 1462 1749.0 148.1 -53 Assays pending
RC693 DD 453334 6396606 1416 1212.8 238 -59 Geotechnical Hole – Not Sampled
RC694 DD 452677 6396314 1492 770.0 147 -54 Development Hole
RC695 DD 452742 6396324 1491 851.5 150 -64 Development Hole
RC696# DD 453126 6396510 1445 1451.1 151 -63 Assays pending
RC697 DD 452584 6396356 1492 824.2 147 -57 Development Hole
RC698 DD 453332 6396598 1418 1019.7 200 -71 Geotechnical Hole – Not Sampled
RC699 DD 452539 6395336 1491 101.4 360 -90 Environmental Monitoring Hole – Not Sampled
RC700# DD 453422 6396505 1417 1265.0 145 -61 Assays pending
RC701# DD 453530 6397490 1469 964.0 145 -45 Geotechnical Hole – Not Sampled
RC702 DD 452742 6396326 1492 1157.5 150 -59 Development Hole
RC703# DD 452584 6396357 1492 1027.8 146 -62 Development Hole
RC704# DD 452550 6396348 1495 854.9 149 -46 Development Hole
RC705# DD 453310 6396503 1425 656.2 147 -59 Assays pending
RC706# DD 454519 6397469 1341 451.5 148 -45 Geotechnical Hole – Not Sampled

#drilling in progress. **partial intercept, assays pending. ^updated intercept ^^previously reported intercept

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_007.jpg

Figure 5. Schematic plan view map of the East Ridge showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases). 1 g/t AuEq and 2 g/t AuEq shell projections generated from a Leapfrog model and sliced at 800mRL. Gold equivalent (AuEq) grade calculated using a copper conversion factor of 1.67 ([gold grade (g/t)] + [copper grade (%) x 1.67]), using US$1,400/oz Au, US$3.40/lb Cu and 100% recovery.

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_007full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_008.jpg

Figure 6. Schematic plan view map of the East Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases). 1 g/t AuEq and 2 g/t AuEq shell projections generated from a Leapfrog model and sliced at 800mRL. Gold equivalent (AuEq) grade calculated using a copper conversion factor of 1.67 ([gold grade (g/t)] + [copper grade (%) x 1.67]), using US$1,400/oz Au, US$3.40/lb Cu and 100% recovery.

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_008full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_009.jpg

Figure 7. Schematic plan view map of the Main Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases). 1 g/t AuEq and 2 g/t AuEq shell projections generated from a Leapfrog model and sliced at 800mRL. Gold equivalent (AuEq) grade calculated using a copper conversion factor of 1.67 ([gold grade (g/t)] + [copper grade (%) x 1.67]), using US$1,400/oz Au, US$3.40/lb Cu and 100% recovery.

To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_009full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_010.jpg

Figure 8. Schematic cross section of RC688 (Section Line 35) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 8, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_010full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_011.jpg

Figure 9. Schematic cross section of RC684 (Section Line 34) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 9, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_011full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_012.jpg

Figure 10. Schematic cross section of RC687 (Section Line 32) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 10, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_012full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_013.jpg

Figure 11. Schematic cross section of RC676 (Section Line 21) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 11, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_013full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_014.jpg

Figure 12. Schematic cross section of RC683 (Section Line 15) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 12, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_014full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_015.jpg

Figure 13. Schematic cross section of RC673, RC675, RC679, RC680 and RC686 (Section Line 14) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 1 of this report, and in prior Newcrest exploration releases) 0.5 g/t AuEq, 1 g/t AuEq and 2 g/t AuEq shell projections generated from Leapfrog model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 13, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_015full.jpg

Appendix 2

Havieron Project (Greatland Gold Plc – Joint Venture Agreement): JORC Table 1
Section 1: Sampling Techniques and Data

Criteria Commentary
Sampling techniques Core samples are obtained from core drilling in Proterozoic basement lithologies. PQ-HQ and NQ diameter core was drilled on a 6m run. Core was cut using an automated core-cutter and half core sampled at 1m intervals with breaks for major geological changes. Sampling intervals range from 0.2 – 1.0m. Cover sequences were not sampled.
Drilling techniques Permian Paterson Formation cover sequence was drilled using mud rotary drilling. Depths of cover typically observed to approximately 420m vertically below surface. Steel casing was emplaced to secure the pre-collar.

Core drilling was advanced from the base of the cover sequence with PQ3, HQ3 and NQ2 diameter coring configuration.

Core from inclined drill holes are oriented on 3m and 6m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line.

Drill sample recovery Core recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller’s depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled.

Core recoveries were typically 100%, with isolated zones of lower recovery.

Cover sequence drilling by the mud-rotary drilling did not yield recoverable samples.

Logging Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled – 4,798 m for 7 drill holes, all intersecting mineralisation), including orientation of key geological features.

Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements.

Magnetic susceptibility measurements were recorded every metre. The bulk density of selected drill core intervals was determined at site on whole core samples.

All geological and geotechnical logging was conducted at the Havieron site.

Digital data logging was captured on diamond drill core intervals only, and all data validated and stored in an acQuire database.

All drill cores were photographed, prior to cutting and/or sampling the core.

The logging is of sufficient quality to support Mineral Resource estimates.

Sub-sampling techniques and sample preparation Sampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.

Core was cut and sampled at the Telfer and Havieron core processing facility. Half core samples were collected in pre-numbered calico bags and grouped in plastic bags for dispatch to the laboratory. Sample weights typically varied from 0.5 to 4kg. Sample sizes are considered appropriate for the style of mineralisation. Drill core samples were freighted by air and road to the laboratory.

Sample preparation was conducted at the independent ISO17025 accredited Intertek Laboratory, Perth (Intertek). Samples were dried at 105oC, and crushed to 95% passing 4.75mm, and the split to obtain up to 3kg sub-sample, which was pulverised (using LM5) to produce a pulped product with the minimum standard of 95% passing 106μm. Routine grind size analysis is conducted.

Duplicate samples were collected from crush and pulp samples at a rate of 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation.

Periodic size checks (1:20) for crush and pulp samples and sample weights are provided by the laboratory and recorded in the acQuire database.

Quality of assay data and laboratory tests Assaying of drill core samples was conducted at Intertek. All samples were assayed for 48 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method 4A/MS907), which is considered to provide a total assay for copper. Gold analyses were determined by 50g fire assay with AAS finish (method FA50N/AA), which is considered to provide a total assay for gold.

Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20).

Assays of quality control samples were compared with reference samples in acQuire database and verified as acceptable prior to use of data from analysed batches.

Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats and grind size results are captured in the acQuire database and assessed for accuracy and precision for recent data.

Extended quality control programs including pulp samples submitted to an umpire laboratory and combined with more extensive re-submission programs have been completed.

Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved and the database contains no analytical data that has been numerically manipulated.

The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results.

Verification of sampling and assaying Sampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core cutting. Corresponding sample numbers matching pre-labelled calico bags are assigned to each interval.

All sampling and assay information were stored in a secure acQuire database with restricted access.

Electronically generated sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the acQuire database.

Assessment of reported significant assay intervals was verified by re-logging of diamond drill core intervals and assessment of high resolution core photography. The verification of significant intersections has been completed by company personnel and the Competent Person/Qualified Person.

No adjustments are made to assay data, and no twinned holes have been completed.

There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data.

Location of data points Drill collar locations were surveyed using a differential GPS with GNSS with a stated accuracy of +/- 0.5m for all drill holes reported.

Drill rig alignment was attained using an electronic azimuth aligner. Downhole survey was collected at 6-12m intervals in the cover sequence, and every 6 to 30m in diamond drill core segments of the drill hole using single shot (Axis Mining Champ Gyro). The single shot surveys have been validated using continuous survey to surface (Axis Mining Champ) along with a selection of drill holes re-surveyed by an external survey contactor using a DeviGyro tool – confirming sufficient accuracy for downhole spatial recording.

A LIDAR survey was completed over the project area in Nov 2019 which was used to prepare a DEM / topographic model for the project with a spatial accuracy of +/- 0.1m vertical and +/- 0.3m horizontal. The topography is generally low relief to flat, elevation within the dune corridors in ranges between 250-265m Australian Height Datum (AHD) steepening to the southeast. All collar coordinates are provided in the Geocentric Datum of Australian (GDA20 Zone 51). All relative depth information is reported in AHD +5000m.

Data spacing and distribution Within the South-East Crescent and Breccia zone drill hole spacing ranges from 50 to 100m, to 50 by 50m within the initial resource extents. Outside the initial resource boundary drill hole spacing ranges from 50 to 200m in lateral extent within the breccia zone over an area of ~2km2. The data spacing is sufficient to establish the degree of geological and grade continuity.

Significant assay intercepts remain open. Further drilling is required to determine the extent of currently defined mineralisation. No sample compositing is applied to samples.

Drilling intersects mineralisation at various angles.

Orientation of data in relation to geological structure Drill holes exploring the extents of the Havieron mineral system intersect moderately dipping carbonate and siliclastic sedimentary facies, mineralised breccia and sub-vertical intrusive lithologies. Geological modelling has been interpreted from historic and Newcrest drill holes.

Variable brecciation, alteration and sulphide mineralisation is observed with a footprint with dimensions of 650m x 350m trending in a north west orientation and over 1000m in vertical extent below cover.

The subvertical southeast high grade arcuate crescent sulphide zone has an average thickness of 20m and has been defined over a strike length of up to 550m, and extended to over 700m in vertical extent below cover.

Drilling direction is oriented to intersect the steeply dipping high-grade sulphide mineralisation zones at an intersection angle of greater than 40 degrees. The drilled length of reported intersections is typically greater than true width of mineralisation.

Sample security The security of samples is controlled by tracking samples from drill rig to database.

Drill core was delivered from the drill rig to the Havieron core yard every shift. On completion of geological and geotechnical logging, core processing was completed by Newcrest personnel at the Havieron facility.

High resolution core photography and cutting of drill core was undertaken at the Havieron core processing facilities.

Samples were freighted in sealed bags by air and road to the Laboratory, and in the custody of Newcrest representatives. Sample numbers are generated directly from the database. All samples are collected in pre-numbered calico bags.

Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advise issued to Newcrest.

Details of all sample movement are recorded in a database table. Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to analytical services. Any discrepancies logged at the receipt of samples into the analytical services are validated.

Audits or reviews Internal reviews of core handling, sample preparation and assays laboratories were conducted on a regular basis by both project personnel and owner representatives.

In the Competent Person’s opinion, the sample preparation, security and analytical procedures are consistent with current industry standards and are entirely appropriate and acceptable for the styles of mineralisation identified and will be appropriate for use in the reporting of exploration results and Mineral Resource estimates. There are no identified drilling, sampling or recovery factors that materially impact the adequacy and reliability of the results of the drilling programme in place at the Havieron Project.

Section 2: Reporting of Exploration Results

Criteria Commentary
Mineral tenement and land tenure status The Havieron Project is entirely contained within mining tenement M45/1287, which is jointly owned by Greatland Pty Ltd and Newcrest Operations Limited. Newcrest has entered into a Joint Venture Agreement (effective 30 November 2020) and Farm-In Agreement (effective 12 March 2019) with Greatland Pty Ltd and Greatland Gold plc. Newcrest is the manager of the Havieron Project. Newcrest has now met the Stage 3 expenditure requirement (US$45 million) and is entitled to earn an additional 20% joint venture interest, resulting in an overall joint venture interest of 60%. Newcrest has the right to earn up to a 70% interest and acquire a further 5% at fair market value.

Newcrest and the Western Desert Lands Aboriginal Corporation are parties to an Indigenous Land Use Agreement (ILUA) which relates to the use of native title land for Newcrest’s current operations at Telfer and its activities within a 60-km radius around Telfer and includes its exploration activities at Havieron. The parties have agreed that the ILUA will apply to any future development activities by the Joint Venture Participants (Newcrest and Greatland Gold) at Havieron.

The mining tenement M45/1287 wholly replaces the 12 sub-blocks of exploration tenement E45/4701 (former exploration tenement on which the Havieron Project is based) and was granted on 10 September 2020. All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing for prior exploration tenement E45/4701.

Exploration done by other parties Newcrest completed six core holes in the vicinity of the Havieron Project from 1991 to 2003. Greatland Gold completed drill targeting and drilling of nine Reverse Circulation (RC) drill holes with core tails for a total of approximately 6,800m in 2018. Results of drilling programs conducted by Greatland Gold have previously been reported on the Greatland Gold website.

Drilling has defined an intrusion-related mineral system with evidence of breccia and massive sulphide-hosted higher-grade gold-copper mineralisation.

Geology The Havieron Project is located within the north-western exposure of the Palaeo-Proterozoic to Neoproterozoic Paterson Orogen (formerly Paterson Province), 45 km east of Telfer. The Yeneena Supergroup hosts the Havieron prospect and consists of a 9km thick sequence of marine sedimentary rocks and is entirely overlain by approximately 420m of Phanerozoic sediments of the Paterson Formation and Quaternary aeolian sediments.

Gold and copper mineralisation at Havieron consist of breccia, vein and massive sulphide replacement gold and copper mineralisation typical of intrusion-related and skarn styles of mineralisation. Mineralisation is hosted by metasedimentary rocks (meta-sandstones, meta-siltstones and meta-carbonate) and intrusive rocks of an undetermined age. The main mineral assemblage contains well developed pyrrhotite-chalcopyrite and pyrite sulphide mineral assemblages as breccia and vein infill, and massive sulphide lenses. The main mineralisation event is associated with amphibole-carbonate-biotite-sericite-chlorite wall rock alteration. Drilling has partially defined the extents of mineralisation which are observed over 650m by 350m within an arcuate shaped mineralised zone, and to depths of up to 1400m below surface.

Drill hole Information As provided.
Data aggregation methods Significant assay intercepts are reported as (A) length-weighted averages exceeding 1.0g/t Au greater than or equal to 10m, with a maximum of 5m consecutive internal dilution; and (B) length-weighted averages exceeding 0.2g/t Au for greater than or equal to 20m, with a maximum of 10m consecutive internal dilution, and (C) intervals of >30g/t which are greater or equal to 30 gram metres (Au_ppm x length). No top cuts are applied to intercept calculations.
Relationship between mineralisation widths and intercept lengths Significant assay intervals reported represent apparent widths. Drilling is not always perpendicular to the dip of mineralisation and true widths are less than downhole widths. Estimates of true widths will only be possible when all results are received, and final geological interpretations have been completed.
Diagrams As provided.
Balanced reporting This is the sixteenth release of Exploration Results for this project made by Newcrest. Previous release dates are 25 July 2019, 10 September 2019, 24 October 2019, 2 December 2019, 30 January 2020, 11 March 2020, 30 April 2020, 11 June 2020, 23 July 2020, 10 September 2020, 29 October 2020, 10 December 2020, 28 January 2021, 11 March 2021 and 29 April 2021.

Earlier reporting of exploration programs conducted by Newcrest and Greatland Gold have previously been reported. Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.

Other substantive exploration data Nil
Further work Growth drilling is planned to extend the December 2020 Inferred Mineral Resource estimate and define the limits of the Havieron mineralised system.

Drillhole data(1)

Havieron Project, Paterson Province, Western Australia

Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.20ppm (0.2g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Average grades are based on length-weighting of samples grades. Also highlighted are high grade intervals of Au >1.0ppm (1g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 5m, and intervals of >30g/t which are greater or equal to 30 gram metres (Au_ppm x length) are tabled. Gold grades are reported to two significant figures, the downhole lengths are rounded to 0.1m which may cause some apparent discrepancies in interval widths. Samples are from core drilling which is PQ, HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core PQ, HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes. Collars denoted with a * show partial results, with further significant assays to be reported in subsequent exploration updates.

Hole ID Hole
Type
Easting
(m)
Northing
(m)
RL
(m)
Total
Depth (m)
Azi Dip From
(m)
To (m) Interval
(m)
Au
(ppm)
Cu
(pct)
Cut
off
HAD086W1 MR-DD 464623 7598148 258 1460.6 225 -64 1240 1274 34 3.9 0.28 0.2 g/t Au
incl 1259 1271.2 12.2 10 0.36 1.0 g/t Au
1265 1266 1 47 0.05 30 g/t Au
1308 1407.7 99.7 2.5 0.85 0.2 g/t Au
incl 1313.6 1364 50.4 4.3 1.6 1.0 g/t Au
incl 1331 1331.9 0.9 46 3.8 30 g/t Au
incl 1339.4 1340.3 0.9 50 1.3 30 g/t Au
incl 1358 1359 1 50 0.01 30 g/t Au
incl 1393 1403 10 2.1 0.13 1.0 g/t Au
1426.3 1460 33.7 0.39 0.09 0.2 g/t Au
HAD089W1 MR-DD 464299 7597746 258 1138 290 -61 602 713.2 111.2 0.32 0.02 0.2 g/t Au
752.9 791.5 38.6 0.43 0.08 0.2 g/t Au
878.1 930.9 52.8 0.54 0.13 0.2 g/t Au
943.6 968.8 25.2 0.31 0.04 0.2 g/t Au
1009.7 1091 81.3 1.2 0.04 0.2 g/t Au
1078 1079 1 37 0.01 30 g/t Au
HAD096W1 MR-DD 463717 7597354 262 1350.4 31 -61 704 741.5 37.5 0.20 0.03 0.2 g/t Au
812 849 37 0.58 0.15 0.2 g/t Au
865.4 865.8 0.4 142 0.04 30 g/t Au
876.6 976 99.4 0.60 0.20 0.2 g/t Au
998 1023 25 0.27 0.27 0.2 g/t Au
1037 1115 78 0.45 0.07 0.2 g/t Au
1271.4 1321 49.6 0.65 0.08 0.2 g/t Au
incl 1281.2 1296 14.8 1.9 0.15 1.0 g/t Au
HAD097W3 MR-DD 464436 7598085 257 830 222 -63 620.2 668 47.8 2.3 0.28 0.2 g/t Au
incl 639.7 668 28.3 3.8 0.45 1.0 g/t Au
HAD106W2 MR-DD 463521 7597782 257 1026.4 69 -57 648.7 702.8 54.1 0.56 0.09 0.2 g/t Au
incl 674.9 688 13.1 1.6 0.11 1.0 g/t Au
726.9 754.8 27.9 0.22 0.06 0.2 g/t Au
793 850.3 57.3 0.31 0.06 0.2 g/t Au
HAD133 MR-DD 464071 7598315 257 1430.2 171 -65 1221 1329.5 108.5 1.7 0.43 0.2 g/t Au
incl 1244.7 1268 23.3 2.7 0.59 1.0 g/t Au
incl 1276 1289 13 2.4 0.62 1.0 g/t Au
incl 1309.9 1329 19.1 2.3 0.38 1.0 g/t Au
1345 1430 85 11 0.29 0.2 g/t Au
incl 1363 1376 13 32 0.46 1.0 g/t Au
incl 1366.6 1372.6 6 62 0.24 30 g/t Au
incl 1385.7 1386.4 0.7 82 0.19 30 g/t Au
incl 1396.5 1411 14.5 32 0.33 1.0 g/t Au
incl 1403 1406.6 3.6 120 0.46 30 g/t Au
HAD136 MR-DD 464451 7597544 257 1468.9 300 -62 501 556.2 55.2 2.5 0.65 0.2 g/t Au
incl 506.8 531.3 24.5 5.4 0.95 1.0 g/t Au
incl 512 513 1 31.4 1.2 30 g/t Au
788.8 883.6 94.8 0.34 0.12 0.2 g/t Au
919.7 940 20.3 0.35 0.16 0.2 g/t Au
979.3 1009 29.7 0.20 0.10 0.2 g/t Au
1022.6 1137.5 114.9 0.26 0.10 0.2 g/t Au
1148.9 1194.6 45.7 0.44 0.06 0.2 g/t Au
1329 1354 25 0.22 0.01 0.2 g/t Au

#drilling in progress. **partial intercept, assays pending. ^updated intercept ^^previously reported intercept

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_016.jpg

Figure 14. Schematic plan view map showing drill hole locations and significant intercepts reported in this release superimposed on the interpreted geology. Previously reported holes are not shown for the sake of clarity. Note some holes and results appear on multiple sections due to the sections orientation and sections overlap.

To view an enhanced version of Figure 14, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_016full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_017.jpg

Figure 15. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S1, +/-50m section width, as shown in Figure 10). Due to section window size and orientation holes may appear on multiple sections.

To view an enhanced version of Figure 15, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_017full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_018.jpg

Figure 16. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S2, +/-50m section width, as shown in Figure 10). Due to section window size and orientation holes may appear on multiple sections.

To view an enhanced version of Figure 16, please visit:
https://orders.newsfilecorp.com/files/7614/87139_fa1e024f04a2f90f_018full.jpg

Forward Looking Statements

This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “targets”, “outlook” and “guidance”, or other similar words and may include, without limitation, statements regarding estimated reserves and resources, certain plans, strategies, aspirations and objectives of management, anticipated production, study or construction dates, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. Newcrest continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.

These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Newcrest’s actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Newcrest operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on Newcrest’s results and performance, please see the risk factors included in the Annual Information Form dated 13 October 2020 lodged with ASX and SEDAR.

Forward looking statements are based on Newcrest’s good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Newcrest’s business and operations in the future. Newcrest does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Newcrest. Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic. Forward looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Newcrest does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in assumptions on which any such statement is based.

Ore Reserves and Mineral Resources Reporting Requirements

As an Australian Company with securities listed on the Australian Securities Exchange (ASX), Newcrest is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001 and the ASX. Investors should note that it is a requirement of the ASX listing rules that the reporting of ore reserves and mineral resources in Australia is in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and that Newcrest’s ore reserve and mineral resource estimates comply with the JORC Code.

Newcrest is also subject to certain Canadian disclosure requirements and standards, as a result of its secondary listing on the Toronto Stock Exchange (TSX), including the requirements of National Instrument 43-101 (NI 43-101). Investors should note that it is a requirement of Canadian securities law that the reporting of Mineral Reserves and Mineral Resources in Canada and the disclosure of scientific and technical information concerning a mineral project on a property material to Newcrest comply with NI 43-101. Newcrest’s material properties are currently Cadia, Lihir and Wafi-Golpu.

Competent Person’s Statement

The information in this document that relates to Exploration Targets, Exploration Results, and related scientific and technical information, is based on and fairly represents information compiled by Mr F. MacCorquodale. Mr MacCorquodale is the General Manager – Greenfields Exploration and a full-time employee of Newcrest Mining Limited. He is a shareholder in Newcrest Mining Limited and is entitled to participate in Newcrest’s executive equity long term incentive plan, details of which are included in Newcrest’s 2020 Remuneration Report. He is a Member of the Australian Institute of Geoscientists. Mr MacCorquodale has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code and as a Qualified Person under
NI 43-101. Mr MacCorquodale approves the disclosure of scientific and technical information contained in this document and consents to the inclusion of material of the matters based on his information in the form and context in which it appears.

Authorised by the Newcrest Disclosure Committee

For further information please contact

Investor Enquiries
Tom Dixon
+61 3 9522 5570
+61 450 541 389
Tom.Dixon@newcrest.com.au

Ben Lovick
+61 3 9522 5334
+61 407 269 478
Ben.Lovick@newcrest.com.au

North American Investor Enquiries
Ryan Skaleskog
+1 866 396 0242
+61 403 435 222
Ryan.Skaleskog@newcrest.com.au

Media Enquiries
Tom Dixon
+61 3 9522 5570
+61 450 541 389
Tom.Dixon@newcrest.com.au

Annie Lawson
+61 3 9522 5750
+61 409 869 986
Annie.Lawson@newcrest.com.au

This information is available on our website at www.newcrest.com


1 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.

2 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.

3 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87139

News Provided by Newsfile via QuoteMedia

Featured
Global News
gold coins and us money
nyker / Shutterstock

Is there more upside right now for gold or the US dollar? "I think clearly I'm in the camp of favoring gold on that one," said Will Rhind of GraniteShares.

Will Rhind: Upside Favors Gold; Strong US Dollar Checking Gains for Now youtu.be

Strength in the US dollar is keeping the gold price in check right now, but that won't last forever.

Speaking to the Investing News Network, Will Rhind, CEO of GraniteShares, said the yellow metal is in a good position given market conditions and looks set to strengthen moving forward.

"(Gold has) really managed to shrug off a lot of the negatives around rising rates and a strong dollar, and I think people have got to ask themselves, 'How much more can the dollar strengthen from here? ... Realistically is there more upside for the dollar here, or for gold?' I think clearly I'm in the camp of favoring gold on that one," he said.

read more Show less
Breaker Resources

Transitioning From Explorer to Developer in Western Australia

Related Articles Around the Web
BRB:AU
gold bars
Momentum studio / Shutterstock

"Those are the times that in my opinion people can make a lot of money by putting money into assets," Kal Kotecha of Junior Gold Report said.

Kal Kotecha: Gold Price Holding Up Well, Time to Watch for Buying Opportunities youtu.be

Gold's performance has disappointed some market participants this year, but according to Dr. Kal Kotecha of Junior Gold Report, the yellow metal is holding up well compared to other assets.

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Kotecha said that looking back over the last 20 years, gold has outperformed major indexes like the S&P 500 (INDEXDJX:.DJI).

"A lot of people want to see gold at US$5,000 and US$10,000 (per ounce), kind of like how bitcoin rose quite a bit. But gold is a different beast in itself," he said. "So in my opinion gold is doing well."

read more Show less

Australia is rich in gold, and is home to many major mines. Here's a look at the top Australian gold mines flush with the yellow metal.

With Australia earning more accolades within the gold space and the price of gold hitting record highs in the last two years, investors may want to find out more about gold mines in the country.

Currently the second-largest gold-producing country in the world, Australia is home to top producers and gold mines.

Read on for a breakdown of the Australian gold market, as well as the largest gold mines that can be found throughout the area.


The region of Australia

As previously mentioned, Australia is currently the second-largest gold-producing country across the globe.

Global gold consumption is expected to rise annually at a rate of 5.7 percent until 2023, when it’s expected to reach 4,535 tonnes. Australia’s continued expansion projects and new developments in the gold sector will improve output and help the country maintain its position as a key player in the gold production market.

One of the more prolific gold mining areas in Australia is Western Australia.

Recent exploration activity in the Pilbara region of Western Australia has renewed interest and helped increase the country’s consistent gold output. While the Pilbara region is typically known as one of the world’s largest producers of iron ore, the region is currently in the midst of a small gold rush thanks to a major discovery in 2017 by Novo Resources (TSXV:NVO,OTCQX:NSRPF) and Artemis Resources (ASX:ARV,OTCQB:ARTTF).

In fact, gold was the second largest commodity in Western Australia by value in 2020 to 2021, behind iron ore, at a record of AU$17.3 billion in sales in 2020. In 2021, the metal saw sales of AU$16 million in the state.

The Fraser Institute also named Western Australia one of the best mining jurisdictions in the world, coming in first in 2021. The area has attracted major miners like Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) and BHP (ASX:BHP,NYSE:BHP,LSE:BLT) to the region. Covering more than half a million square kilometres (km), Western Australia’s Pilbara is one of the most resource-rich regions in the state.

Western Australia itself represents close to 60 percent of the country’s total gold output and some geologists have compared the geology of the Pilbara Craton with South Africa’s Kaapvaal Craton and Witwatersrand Basin. Witwatersrand is home to the Earth’s largest known gold reserves and is responsible for over 40 percent of worldwide gold production. Both the Pilbara and Witwatersrand are similar in age and composition, sitting on top of the Archean granite-greenstone basement. The Pilbara area hosts numerous small mesothermal gold deposits containing conglomerate gold — mineralization known to hold large, high-grade gold nuggets.

What are the top Australian gold mines?

Below is a guided tour of the top 10 largest gold mines in Australia in terms of gold output, according to the Aurum Analytics quarterly report on Australian and New Zealand gold operations.

1. Cadia Valley

Owned and operated by Newcrest (ASX:NCM,OTC Pink:NCMGF), Cadia is officially the biggest mine in Australia in terms of production. During the second quarter of 2021, the asset had an output of 194,757 ounces of gold.

The mine is made up of the Cadia East underground panel cave mine and the Ridgeway underground mine (currently in care and maintenance), which produce gold doré bars from a gravity circuit and gold-rich copper concentrates from a flotation circuit.

In October of 2019, the company announced approval of the Cadia expansion project, bringing it to the execution phase. This stage involves beginning development for the next cave (PC2-3). In December 2021, the company received approval to expand production to 35 million tonnes a year.

2. Boddington

Newmont (TSX:NGT,NYSE:NEM) became the sole owner of this open-pit mine in 2009.

The mine is located 16 kilometres from Boddington, Australia, and has an annual gold production of 709,000 attributable ounces. The mine is Western Australia’s biggest gold producer. In 2020, the asset produced 670,000 ounces of the yellow metal.

In addition to gold, the mine also produces copper, and at the end of 2020, it provided an output of 56 million attributable pounds of the base metal.

In 2021, the company announced that Boddington would have the industry’s first autonomous haulage fleet.

3. Fosterville

Fosterville is a high-grade, low-cost underground gold mine located in the state of Victoria, Australia. The Fosterville mine features growing gold production at increasingly high grades, as well as extensive in-mine and district scale exploration potential.

The mine has been operational since 1989, with a lifetime production of over 16 million ounces of gold. Additionally, in terms of scale, it is Australia’s largest mine and its pits encompass more than 5 square kilometres. It’s also one of the lowest cost gold mines in the world.

The asset, which is owned by Agnico Eagle Mines (TSX:AEM,NYSE:AEM), is the third-largest gold-producing mine in Australia, producing an impressive 157,993 ounces in Q2 2021.

4. KCGM

Northern Star (ASX:NST,OTC Pink:NESRF) owns Kalgoorlie Consolidated Gold Mines (KCGM), which includes the Fimiston open pit, Mt Charlotte underground mine and Fimiston and Gidji processing plants.

Northern Star refers to the Fimiston open pit as a super pit because it has produced more than 50 million ounces of gold in the last 30 years.

The asset is located in the legendary Golden Mile, which was once reputed to be the richest square mile on earth. When fully developed, Kalgoorlie will be 3.6 kilometres long, 1.6 kilometres wide and up to 650 metres deep.

KCGM Operations had previously been joint-owned by Barrick Gold (TSX:ABX) and Newmont until both companies sold their interests, and the operations were handed entirely to Northern Star in June 2021.

5. Telfer

Another mine owned by Newcrest, Telfer is located in the eastern Pilbara and is one of the oldest in Australia. Between the years 1975 and 2000, the asset produced approximately 6 million ounces of gold until operations were suspended due to high operating costs.

Fortunately, production was able to restart in 2004, and the mine has since produced over 5 million ounces, with 416,000 ounces of gold in the 2021 financial year alone. The mine also produces copper, with an output of 16 tonnes in 2019.

In 2015, the company signed a land use agreement with the Martu people, which enabled work at the mine to continue in exchange for the Martu receiving AU$18 million over the course of five years with the addition of a further revenue-sharing agreement.

6. Tanami

Tanami has been fully owned and operated by Newmont since 2002, and it is located in the remote Tanami Desert of Australia. Additionally, both the mine and the plant are located on Aboriginal freehold land that is owned by the Warlpiri people and managed on their behalf by the Central Desert Aboriginal Lands Trust.

Tanami is a fly-in, fly-out operation in one of Australia’s most remote locations. The asset is 270 kilometres away from its closest neighbours, the remote Aboriginal community of Yuendumu. In 2020, Tanami produced 495,000 ounces of gold and reported 5.9 million ounces of gold reserves.

The Tanami Expansion 2 is currently underway to secure its future, potentially extending the mine life to 2040 and increasing annual gold production by an approximate 150 to 200 thousand ounces.

7. St. Ives

Owned and operated by Gold Fields (NYSE:GFI,JSE:GFI), St. Ives is both an open pit and underground mine, with two main open pits, and three underground mines.

In one of Gold Fields’ latest quarterly reports, it was revealed that St. Ives produced 393 tonnes of the yellow metal in 2021, up 2 percent from 385 tonnes in 2020.

8. Tropicana

Tropicana is co-owned by AngloGold Ashanti (ASX:AGG,NYSE:AU,OTC Pink:AULGF), which owns 70 percent, and Regis Resources (ASX:RRL), which owns the remaining 30 percent.

The mine spans 3,600 square kilometres, stretching over close to 160 kilometres in strike length along the Yilgarn Craton and Fraser Range mobile belt collision zone. The regional geology is dominated by granitoid rocks; it is a rare example of a large gold deposit within high grade metamorphic rocks that have undergone widespread recrystallisation and melting.

In 2021, Tropicana produced 265,000 ounces of gold with an all-in sustaining cost of AU$1,326 per ounce.

9. Jundee

Jundee is located in the increasingly sought-after Western Australia region and is owned by Northern Star after the miner purchased it from Newmont in 2014 for AU$82.5 million.

The project is well-known due to the fact that it solely uses underground mining and not the often utilized open pit mining. Jundee produces around 1.8 million tonnes of ore per year.

Most recently, the asset produced 83,562 ounces of gold in Q2 2021.

10. South Kalgoorlie Operations

The South Kalgoorlie Operations were acquired by Northern Star (ASX:NST,OTC Pink:NESRF) in 2018.

In the second quarter of 2021, the South Kalgoorlie Oerations produced 76,175 ounces of the precious metal.

How can you invest in Australian gold stocks?

Like all publicly listed stocks, gold companies issue shares that are available for investors to trade. When you purchase shares of a gold stock, you are essentially purchasing a stake in the company, making an investment with financial returns or losses from its profits.

There are two main ways that an investor can invest in gold mining stocks. The first way is when market participants purchase through a major mining company; the other way of trading on the stock market is by investing in a gold mining stock through a junior miner (a small cap stock).

Although no gold stock investing is 100 percent foolproof, backing a successful mining company in the precious metals space can alleviate some of the stress of a down stock market when you keep in mind that if a company’s share price goes down, it becomes more affordable to purchase and investors can more than likely anticipate that it will rise again and turn a profit.

While gold stocks are affected by some of the same factors that shape and shift the price of precious metals, they keep some distance from a direct correlation because it is possible for a gold miner and its stocks to be in a sound financial situation, even in a down market.

This is an updated version of an article first published by the Investing News Network in 2019.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Matthew Flood, currently hold no direct investment interest in any company mentioned in this article.

gold bar with stock chart
allstars / Shutterstock

Gold and gold stocks have done well in every stagflationary period dating back to 1960, said Adrian Day of Adrian Day Asset Management.

Adrian Day: Recession, Stagflation, Crash? Where We're Going, What it Means for Gold youtu.be

The US Federal Reserve hiked interest rates by 75 basis points last week in its ongoing fight against inflation, amping up its efforts to tame prices and leaving market watchers wondering what's next.

Speaking just ahead of the central bank's meeting, Adrian Day, president of Adrian Day Asset Management, said usually the Fed starts out hawkish and then backs off. But this time around the opposite is happening.

This is due to various factors, but US President Joe Biden's recent meeting with Fed Chair Jerome Powell is among them — in their discussion, Biden expressed that inflation is the Fed's responsibility.

read more Show less
Breaker Resources NL


Please find attached an ASX release by Global Lithium Resources Limited (GL1) announcing results from their initial reverse circulation drilling program at the Manna Lithium Project, situated within Breaker Resources NL’s 1.7Moz# Lake Roe Gold Project.

A maiden Inferred JORC Mineral Resource of 9.9Mt @ 1.14% Li2O and 49 Ta2O5 ppm^ was previously announced on 17 February 2022. The pegmatite system at Manna is open in all directions with several mineralised trends extending over a 5km x 1.5km area.


A Mineral Resource update for the Manna Lithium Project is expected in Q3 2022.

Breaker retains a 20% free-carried interest in the Manna Lithium Project with Global Lithium carrying all costs and expenditure to completion of a positive bankable feasibility study (BFS). Breaker is also entitled to milestone payments of up to $20 million.

On behalf of the Board of Directors,


For further information on Breaker Resources NL please visit the Company’s website at www.breakerresources.com.au, or contact:

Investors/Shareholders Tom Sanders
Tel: +61 8 9226 3666
Email: breaker@breakerresources.com.au


About Breaker Resources NL

Breaker Resources NL (ASX: BRB) is unlocking the potential of a new 1.7Moz greenfields gold district in the Kalgoorlie region of Western Australia, the world’s top-ranked mining jurisdiction.

The operational strategy is to develop a large open pit and underground gold mine while concurrently drilling to keep expanding the rapidly growing Resource. Major shareholders include the Electrum Gold Fund (10%), Paulson and Co (10%) and Franklin Templeton (6%).

The key attributes of the Lake Roe Project are its scale and high-grade mining optionality. Gold at the main deposit starts 5m from surface and occurs over a 150m-wide zone in a 3km-long single pit configuration, part of a 9km-long gold system. High-grade lodes discovered in the last year have confirmed that open pit mining will transition to underground mining. Open pit PFS studies to date indicate no barriers to development.

Free-carried lithium interests situated within the Lake Roe project have the potential to fund a large part of the capital expenditure expected for a standalone development.

The Ularring Project, situated in the emerging SW Yilgarn mineral province, hosts a known gold-copper system and untested nickel and PGE potential in a large, previously undrilled mafic-ultramafic belt. BRB’s initial drilling is expected to start in Q3 2022.


Click here for the full ASX Release

This article includes content from Breaker Resources NL (ASX: BRB), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

BRB:AU

Work at the company’s Cancet project is building toward a maiden resource in Q1 2023, said Managing Director Chris Evans.


Although prices have cooled off from the highs seen earlier this year, the lithium market remains in focus and investors are interested in how to get exposure to the green energy transition.

Chris Evans, managing director at Winsome Resources (ASX:WR1), said Australian investors in particular are aware of the lithium opportunity, and reacted well to the company’s ASX listing this past November.

The company initially came to market with three lithium assets in the James Bay region of Quebec, and has since acquired two additional lithium projects in the province.


Speaking to the Investing News Network, Evans explained that Cancet is the company’s main focus. Recent assay results released during the Prospectors & Developers Association of Canada (PDAC) convention build on previous drilling at the property, and have increased the known pegmatite strike length to 1,200 meters from 600 meters.

Looking forward, Evans said that two geological teams are now on the ground at Cancet, and are investigating targets identified through geophysical surveys to figure out which of them require drilling.

Known pegmatites that have already been drilled are also being stripped and cleared so that the company can complete field mapping and decide where to drill next.

“Really all that’s working towards a maiden resource in the first quarter of 2023,” said Evans.

In terms of the overall lithium market, he said a recent Goldman Sachs (NYSE:GS) report saying the battery metals bull market is “over for now” put a damper on sentiment, but is generally not thought to be a major concern.

“I think that probably initiated a bit of a correction in the market, which may have been needed because lithium prices and stocks were at all-time highs,” he said. “But in terms of an oversupply like Goldman Sachs is predicting, I haven’t heard anyone agree with that since I’ve been here at PDAC.”

Watch the interview above for more from Evans on Winsome Resources and its plans for the next six months. You can also click here for our recap of PDAC, and here for our full PDAC playlist on YouTube.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Winsome Resources is a client of the Investing News Network. This article is not paid-for content.

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

person using credit card to pay for something on their phone

Revenue from Australia's mobile sector is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026. Here's what to know about this industry.

After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.

Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.

This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.


In terms of digital innovation earnings as a percentage of GDP, for example. Australia stands at 7.4 percent, significantly behind the 11.2 percent average for companies that are part of the Organisation for Economic Cooperation and Development (OECD). According to its September 2021 Policy Primer report, the Australian Academy of Sciences called for the federal government to place greater emphasis on supporting emerging digital technologies.

"Australia risks falling behind as a technologically-driven nation unless we recognise emerging digital technologies as a central, independent sector in its own right, warranting investment in the core aspects of research, innovation, and workforce development," the report stated.

Understanding Australia's mobile tech landscape

One of the drivers of Australia's tech sector expansion is its booming mobile telephone industry. This expansion has taken many forms ranging from expanded use of mobile telephony, adoption of blockchain technology for supply chain management and the rise of the cryptocurrency market. The application of mobile tech to the banking industry is just one space where mobile usage has become key and is expected to continue developing. According to research firm KPMG, digital platforms will become the preferred and dominant business model form.

Chase Bank completed a survey revealing that the COVID-19 pandemic has accelerated the adoption of mobile banking technology. Banking apps allow users to deposit cheques, pay bills and perform transfers from their mobile device.

One critical side effect of COVID-19 has been the way lockdowns and related restrictions on behaviour has changed the way people live and work. Remote working conditions and enforced isolation has triggered increased demand for improved connectivity and internet speeds to facilitate this transition in corporate culture during the pandemic.

As a result, Australia's leading mobile telephony giants have been obliged to improve data capacity and speed, especially in regional areas that have badly lagged behind urban coverage. Some people have relocated to regional areas — where connectivity remains a challenge — and others are requiring more data capacity and fast speeds to allow them to work more efficiently from home.

The Australian mobile sector is dominated by three main players: Telstra (ASX:TLS), Optus — a subsidiary of Singapore-based Singtel (SGX:Z74) — and TPG Telecom (ASX:TPG). Telstra is the largest provider of mobile services with 48.7 percent market share followed by Optus at 26.3 percent.

In 2022, there have already been several major new developments in the Australian mobile sector. One such event has been the tentative network sharing agreement announced in February between Telstra and TPG Telecom, which brings an end to the bitter rivalry between the two competitors. The agreement provides a comprehensive framework for the two telecom giants to share mobile telecommunication infrastructure across Australia.

TPG and Telstra will both enjoy significant savings and benefits from this arrangement. Telstra will reap up to AU$1.8 billion in added revenues while gaining access to TPG's spectrum that expands Telstra's fixed wireless services in regional areas. Correspondingly, TPG gains access to 3,700 Telstra towers in regional areas; this means TPG does not have to spend significant money to duplicate the infrastructure for its own use.

In addition, Telstra announced earlier in the year that it will spend up to AU$1.6 billion on new infrastructure intended to improve connectivity and internet speeds as part of its response to the overall need to accommodate rising consumer demand in the wake of the pandemic.

What's the outlook for mobile tech in Australia?

One of the positive side effects of the pandemic has been the increasing adoption of wireless services by Australians and the ownership of internet-of-things devices that are prevalent in nearly all households.

According to GlobalData, a data and analytics company, mobile sector revenue in Australia is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026 at a compound annual growth rate of 3 percent. This revenue growth will mainly accrue from growth in the mobile data subsector.

Meanwhile, the three leading telephone companies will not only be expanding their 4G services but rolling out 5G networks across the country. 5G allows for improved and additional smartphone services and also enhances fixed wireless services that are competitive with higher speed National Broadband Network (NBN) connections.

In addition, low earth orbit satellite services are beginning to roll out in Australia led by Elon Musk's SpaceX's Starlink service that offers broadband connections delivered via its satellite network.

Overfall, the winding down of restrictions due to COVID-19 will likely see the big three companies enjoy higher revenues in 2022 after declines in earnings owing to the pandemic. Telstra, Optus and TPG Telecom all experienced significant earnings drops between 2020 and 2021 due to reduced international roaming fees, softening demand for headsets and ongoing adoption of NBN services.

But the outlook for 2022 is positive given overall improved economic prospects as Australia emerges from the pandemic, which actually increased overall consumer use of communication services in 2021.

Lockdowns resulted in increased consumer uptake of online services such as online shopping, data-intensive video streaming and the additional household usage of communication services. Indeed, in 2021, data traffic reached record highs as Australian consumers demanded improved internet speeds and unlimited data plans. Remote work will likely continue to remain elevated in 2022 and beyond, which should reinforce increased consumption of home communications services.

Telstar and TPG Telecom in particular are embarking on long term strategies that will drive future earnings growth via accelerating 5G adoption, expansion in dark fibre, and increased adoption of new services such as edge/cloud computing.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Harold Von Kursk, hold no direct investment interest in any company mentioned in this article.

Top News

Global News

×