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 @ 0.70g/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.

Melbourne, Australia–(Newsfile Corp. – June 9, 2021) – 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 @ 11g/t 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.

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

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.

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

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 Leapfrog^TM 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

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.

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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.

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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.

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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.

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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:
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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:
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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:
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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:
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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:
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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

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

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

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
[email protected]

Ben Lovick
+61 3 9522 5334
+61 407 269 478
[email protected]

North American Investor Enquiries
Ryan Skaleskog
+1 866 396 0242
+61 403 435 222
[email protected]

Media Enquiries
Tom Dixon
+61 3 9522 5570
+61 450 541 389
[email protected]

Annie Lawson
+61 3 9522 5750
+61 409 869 986
[email protected]

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

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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