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191024 Newcrest Sept 2019 Quarterly Report

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191024 Newcrest Sept 2019 Quarterly Report Quarterly Exploration Report For the three months ended 30 September 2019 Highlights Newcrest continued the search for new discoveries during the September 2019 quarter with greenfield exploration activity undertaken in Australia, USA, Ecuador and Chile, the highlights of which include: • Further high grade drilling results at Havieron, Western Australia including • HAD017 45.0m @ 7.1 g/t Au and 0.08% Cu from 1077m; and • HAD018 returned 96.4m @ 4.5 g/t Au and 0.14% Cu from 916.4m • The commencement of drilling at Red Chris, Canada with four drill rigs mobilised to site • The commencement of drilling at Tanami, Western Australia Havieron Project, Western Australia Drilling continued to assess the Havieron Project in the Paterson province in Western Australia with 7 holes for 9,180 metres completed, including the drill holes released on 10 September 2019. Table 1: Significant Havieron Q1 2020 intercepts Hole ID From (m) To (m) Width (m) Gold (g/t) Copper (%) HAD012 900 943 43 7.9 0.83 HAD013 481 517 36 4.1 0.84 HAD014 450 694.6 244.6 2.0 0.40 Including 465 494.3 29.3 4.0 0.86 Including 557 579.4 22.4 4.3 0.82 HAD014 816.6 891.9 75.3 3.4 0.43 Including 859.3 872.5 13.2 16 0.93 HAD017 780 904 124 1.6 0.35 Including 880.2 895.4 15.2 5.7 1.2 HAD017 1011.4 1061 49.6 2.9 0.12 HAD017 1077 1122 45 7.1 0.08 Including 1095 1121 26 3.8 0.12 HAD018 597.3 673 75.7 1.9 0.5 Including 607 624 17 1.4 0.99 Including 632.8 649 16.2 6.7 0.56 HAD018 916.4 1012.8 96.4 4.5 0.14 Including 928.5 943.9 15.4 20 0.32 Newcrest Mining Limited – Quarterly Exploration Report to 30 September 2019 Drilling has defined up to 4 sub vertical zones of higher-grade mineralisation in a larger envelope of variable mineralised crackle breccia fractured host rock. Drilling is ongoing to demonstrate the continuity and extent of high grade mineralisation. The Havieron Project is operated by Newcrest under a farm-in agreement with Greatland Gold Plc. It is centred on a deep magnetic anomaly located 45km east of Telfer in the Paterson Province. The target is overlain by more than 400m of post mineral cover. Newcrest commenced drilling during the June 2019 quarter. Six drill rigs are currently operational. Figure 1. Schematic Plan View Map. Newcrest Mining Limited – Quarterly Exploration Report to 30 September 2019 Figure 2. Schematic Cross Section Figure 3. Schematic Cross Section 7597725mN 7597650mN (looking North). (looking North). Figure 3. Schematic Cross Section 7597800mN (looking North). Newcrest Mining Limited – Quarterly Exploration Report to 30 September 2019 Red Chris, British Columbia, Canada During the quarter Newcrest commenced drilling at Red Chris which is the Joint Venture agreement between Newcrest (70%) and Imperial Metals Corporation (Imperial) (30%). Newcrest acquired its interest in the Joint Venture on 15 August 2019. Four diamond rigs are currently operating. At the East Zone a deep infill resource definition drilling programme is underway to provide additional geological, metallurgical and geotechnical data to support studies for future underground operations. A new step out exploration drilling programme is underway searching for additional zones of high grade mineralisation’s within the main mineralised trend. Two of the drill rigs are presently operational in the Gully Zone following up previous high grade intercepts. Figure 4. Red Chris exploration zones Drilling will continue to test the upside of the East Zone, Main Zone and Gully Zone and a number of regional targets for the remainder of FY20. Tanami Province, Northern Territory and Western Australia In the Tanami, drilling was undertaken on the Dune and Anomaly 16 Prospect areas within the Euro projects operating under Newcrest’s farm-in agreement with Prodigy Gold NL. Assay results are pending. Further activities were focussed on heritage clearance surveys in preparation for the field campaign focusing on the Hutch’s Find, Afghan and Mojave Prospects within the Encounter Joint Venture. Drill testing commenced in late September 2019. Mt Isa Inlier, Queensland In the Mt Isa province, review of the drilling results from the Canteen Prospect, part of a farm-in agreement with Exco Resources, is ongoing. Tatau/Big Tabar Island, PNG Newcrest has made the decision to withdraw from Tatau/Big Tabar Island Option and Farm-in with St Barbara Ltd. Newcrest Mining Limited – Quarterly Exploration Report to 30 September 2019 Central Andes, Northern Chile During the quarter Newcrest continued preparations to resume drilling at the Gorbea high-sulfidation gold project under an option and farm-in agreement with Mirasol Resources Ltd. The Gorbea project comprises several large high sulfidation alteration systems, of which the Atlas target is the current focus. A new exploration camp is in place and a planned 3,000m diamond drilling programme is expected to commence early in the December 2019 quarter. At the Mioceno project, which is an option and farm-in agreement with Cornerstone Capital Resources Inc., a programme of in-fill Controlled-source Audio-frequency Magnetotellurics, followed by initial diamond drilling is also planned to commence during the December 2019 quarter. At the Altazor high-sulfidation epithermal gold and porphyry project, which is the subject of an option and farm-in agreement with Mirasol Resources Ltd, a programme consisting of in-fill CSAMT geophysics and 2,000m of drilling is being planned subject to further discussions and agreements with the local community. Also in northern Chile, planning continued on work programmes to define prospective targets at the Vicuna properties under an option and farm-in agreement with Compania Minera del Pacifico S.A (CAP). Northern Andes, Ecuador In Ecuador, Newcrest has submitted applications for permits relating to the Cana Brava option and farm-in agreement with Cornerstone Capital Resources Inc., and the Lundin Gold Inc. exploration joint venture. The Cana Brava project contains several high-level porphyry gold-copper targets as well as epithermal vein targets. The current focus of the Lundin Gold joint venture is the Gamora porphyry copper-gold prospect. Wyoming, USA In the USA, 3,700m of diamond drilling was completed during the September 2019 quarter at the Rattlesnake Hills project, Wyoming (alkalic epithermal and porphyry-hosted gold target). Rattlesnake Hills is an option and farm-in agreement with GFG Resources Inc., who are operators of the project. Results from the drilling are in the process of being received and interpreted. Nevada, USA At the Jarbidge project in Nevada (low-sulfidation epithermal gold target), Newcrest completed 2,500m of diamond drilling during the September 2019 quarter. Results from the drilling are in the process of being received and interpreted. In addition, reconnaissance geological mapping and sampling has identified further epithermal gold targets of interest in the district. Brownfield Exploration Brownfields exploration activities continued within provinces hosting Newcrest operations. • Cadia – Exploration activities continue within extensions of the Cadia Mine Corridor. Work programmes utilising deep penetrating Induced Polarisation techniques have commenced at the Willow West area. • Telfer – Mine corridor activities have focussed on the drill testing of the Ironclad Prospect, whilst in the immediate Telfer mine area, result of drilling in West Dome South are currently being reviewed. • Lihir – Reconnaissance soil sampling of regional prospects continued. • Gosowong – Drill testing continued on priority structural targets within the vicinity of the Gosowong operations. Newcrest Mining Limited – Quarterly Exploration Report to 30 September 2019 Appendix 1 Havieron Project (Greatland Gold plc farm-in agreement): JORC Table 1 Section 1 Sampling Techniques and Data Criteria Commentary Sampling techniques Diamond core samples are obtained from diamond drilling in Proterozoic basement lithologies. PQ-HQ and NQ diameter diamond core was drilled on a 6m run. Diamond core was cut using an automated core-cutter and half core sampled at 1 m intervals with breaks for major geological changes. Sampling intervals range from 0.2 – 1.0 m. 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 420 m vertically below surface. Steel casing was emplaced to secure the pre-collar. Diamond drilling was advanced from the base of the cover sequence with PQ3, HQ3 and NQ2 diameter coring configuration. Diamond core from inclined drill holes are oriented on 6 m 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 Diamond core recovery is systematically recorded from the commencement of diamond 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. Diamond 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 diamond core drilled), 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 Havieron site. Digital data logging was captured on diamond drill core intervals only, and all data validated and stored in an AcQuire database.
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