Newcrest Mining Limited - Quarterly Exploration Report - 30 September 2022

Wednesday, October 26, 2022 4:45 PM PDT
NEWSFILE

Growth potential advances across all regions as exploration portfolio expands

At Brucejack, drilling continues to confirm the potential for resource growth at the Valley of the Kings (VOK) deposit and the surrounding area with further high grade intercepts returned from the 1080 HBx Zone and Golden Marmot, which are located outside the current Pretium published resource.

  • At 1080 HBx Zone, drilling has expanded the VOK deposit and confirmed the continuity of the higher grade mineralisation at depth and to the south, with 22 of 44 holes returning intervals in excess of 5 grams per tonne gold. Drilling continues to deliver narrow intervals of very high grade gold mineralisation within broader zones of stockwork and vein arrays. Mineralisation now extends over 75m of strike and remains open. Results include, VU-4546, 22m @ 178g/t Au from 2m, including 1.0m @ 3,876g/t Au from 2m. In addition, VU-4331 returned 70.1m @ 35g/t Au from 337.5m, including 1.0m @ 2,310g/t Au from 361.5m.

  • At Golden Marmot, located approximately 3.5 km north of the Valley of the Kings, assays were received for the first 19 holes drilled during the quarter. Holes were drilled to infill the main zone, with 7 of 19 holes returning intervals in excess of 5 grams per tonne gold with results including, SU-888, 46.5m @ 16g/t Au from 66m, including 1m @ 488g/t Au from 77.5m and including 1m @ 236g/t Au from 99.5m. In addition, SU-879 returned 91.5m @ 9.1g/t Au from 100.5m, including 1.5m @ 514g/t Au from 138m.

At Red Chris, ongoing drilling activities at East Ridge continue to confirm continuity and expand the footprint of higher grade mineralisation.

  • At East Ridge, drilling has expanded the vertical extent of the mineralisation within the Exploration Target area previously reported on 21 July 2022. RC820 returned 278m @ 0.74g/t Au & 0.44% Cu from 1,658m, including 66m @ 1.7g/t Au & 1.1% Cu from 1,870m and RC835 returned 284m @ 0.75g/t Au & 0.63% Cu from 1,295m, including 112m @ 1.4g/t Au & 1.0% Cu from 1,433m. Both holes have extended higher grade mineralisation by a further 100m at depth to more than 600m vertical and both holes remain open at depth.

At Havieron, growth drilling continues to identify and expand high grade extensions to the mineralisation in the Eastern Breccia, South East Crescent Zone and Northern Breccia with potential for further incremental resource growth.

  • In the Eastern Breccia extensions to the southeast of the current Mineral Resource are reported including HAD152W2, 120m @ 2.1g/t Au & 0.17% Cu from 1,724m including 20.3m @ 3.1g/t Au & 0.68% Cu from 1,781.7m, HAD152W3, 64.5m @ 2.8g/t Au & 1.1% Cu from 1,798m including 13.5m @ 9.8g/t Au & 0.89% Cu from 1,843.5m and HAD104W3, 62m @ 3.0g/t Au & 0.12% Cu from 1,566m including 26.7m @ 6.4g/t Au & 0.16% Cu from 1,593m.

  • At the Northern Breccia a new zone of high grade sulphide mineralisation is being defined within the ~200m gap between the current Northern Breccia and Eastern Breccia Mineral Resource volumes. Results include HAD098W3, 15.4m @ 12 g/t Au & 0.27% Cu from 1,379.6m and HAD098W5, 81.3m @ 3.2g/t Au & 0.29% Cu from 1,357.2m including 53.3m @ 3.5g/t Au & 0.30% Cu from 1,360.5m. Drilling is ongoing to define the extents of this higher grade zone of mineralisation which is open to the northwest.

  • At the South East Crescent, drilling continues to demonstrate incremental growth at depth outside of the current Mineral Resource. Results include HAD086W5, 39.9m @ 4.6g/t Au & 0.10% Cu from 1,401.1m, including 20.6m @ 8.7g/t Au & 0.13% Cu from 1,403m, HAD086W6, 110m @ 1.7g/t Au & 0.16% Cu from 1,337m including 20.7m @ 4.4g/t Au & 0.10% Cu from 1,380.3m and HAD152W2, 20m @ 7.6g/t Au & 0.14% Cu from 1,453m.

Melbourne, Australia--(Newsfile Corp. - October 26, 2022) - Newcrest (ASX: NCM) (TSX: NCM) (PNGX: NCM) Managing Director and Chief Executive Officer, Sandeep Biswas, said, "Newcrest delivered another excellent quarter of exploration results with significant growth potential highlighted across our key targets at Brucejack, Red Chris and Havieron."

"At Brucejack we returned several high-grade intercepts during the quarter, supporting our views for significant resource growth potential. Golden Marmot remains open to the east, north, and south, with the target displaying many geological features of the nearby Valley of the Kings deposit."

"The results of our East Ridge discovery at Red Chris continue to expand the higher-grade footprint, and Havieron has continued to deliver encouraging results, demonstrating its potential for incremental growth outside of the current resource."

"We were also very pleased to expand our global exploration portfolio during the quarter with the addition of five new emerging projects in the highly prospective Great Basin Region in North America," said Mr Biswas.

Brucejack, British Columbia, Canada(1)

The Brucejack Property hosts the Valley of the Kings (VOK) high-grade gold deposit. The VOK is characterised by multiple occurrences of higher grade mineralisation over selected intervals hosted within broader zones of stockwork and vein arrays. Growth activities are focused on both resource expansion within the existing mine area, as well as brownfields exploration activities within 4km of the mine area. Both programs returned results of higher grade mineralisation during the period.

Resource expansion drilling during the quarter was focused on targets in the 1080 HBx Zone and Galena Hill. A total of 19,913m in 92 drill holes was completed using 3 underground drill rigs. Assay results were received for four drill fans in the 1080 HBx Zone. All other assays are pending.

Brownfields drilling during the quarter focused on targets in Gossan Hill South and Golden Marmot. A total of 23,731m in 55 drill holes was completed using 4 drill rigs on surface. During the quarter final assay results were received from the first 19 holes at Golden Marmot.

At 1080 HBx Zone, assays were received for 44 drill holes (four drill fans). All drill holes intersected gold mineralisation, with 22 of the 44 drill holes intersecting higher grade mineralisation, in excess of 5 grams per tonne. Drill holes at 1080 HBX are collared within the current Pretium published resource and are drilling in the resource for the initial 120 to 150 meters, depending on the orientation of the drill hole. The drill program was designed to follow up on the extensions of the high-grade gold mineralisation intersected in 1080 East drill program (previously reported).

Results have confirmed the continuity of higher grade gold mineralisation hosted in a zone oriented sub-parallel to Domain 20, which is currently being mined in the VOK. Drill fans were spaced at 15 meters horizontally in order to rapidly advance this new zone. Assays received to date cover an area of 75m x 300m x 250m. The 1080 HBX zone extends mineralisation an additional 150m south of the previous 1080 East drilling and gold mineralisation has now been intersected up to 225m south and 240m below the existing Mineral Resource estimate. Drilling is currently in progress to test the structure an additional 60 meters along strike to the west and an additional 15 meters along strike to the east.

Results for the reporting period include:

  • VU-4331
    • 70.1m @ 35g/t Au from 337.5m
    • including 1m @ 2,310g/t Au from 361.5m
  • VU-4340
    • 25.63m @ 88g/t Au from 49.5m
    • including 1m @ 2,100g/t Au from 50.5m
  • VU-4529
    • 38.5m @ 36g/t Au from 118.5m
    • including 1m @ 1,315g/t Au from 156m
  • VU-4546
    • 22m @ 178g/t Au from 2m
    • including 1m @ 3,876g/t Au from 2m

At Golden Marmot, assays were received for 19 drill holes. All drill holes intersected gold mineralisation, with 7 of the 19 drill holes intersecting higher grade gold mineralisation, in excess of 5 grams per tonne.

The focus for the 2022 drill program at Golden Marmot was to infill the main zone identified in 2021 and to step out from known mineralisation. Initial assays from the 2022 drill program have confirmed the presence of gold mineralisation over an area with dimensions of 100m wide, 200m long, and 300m high. The zone remains open to the east, north, south, and at depth. Mineralisation encountered at Golden Marmot displays many of the salient geological features that characterise hanging wall domains in the Valley of the Kings deposit immediately to the south. Future exploration drilling will focus on identifying controlling structures.

Results for the reporting period include:

  • SU-873
    • 12m @ 9.9g/t Au from 154.5m
    • and 1m @ 3,010g/t Au from 269.5m
  • SU-874
    • 13.5m @ 25g/t Au from 148.5m
    • including 1.5m @ 216g/t Au from 150m
  • SU-875
    • 10.5m @ 32g/t Au from 183m
    • including 1m @ 328g/t Au from 190m
  • SU-879
    • 91.5m @ 9.1g/t Au from 100.5m
    • including 1.5m @ 514g/t Au from 138m
  • SU-888
    • 46.5m @ 16g/t Au from 66m
    • including 1m @ 488g/t Au from 77.5m
    • including 1m @ 236g/t Au from 99.5m
    • and 12.5m @ 6.9g/t Au from 180m

Approximately 54,000m of resource expansion drilling and 35,000m of brownfield exploration drilling targeting mineralisation definition and continuity are planned during calendar year 2022 with three drill rigs operating underground and four drill rigs operating on surface.

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

Figure 1. Plan view map of the Brucejack Property, spanning the 4km gossanous trend from Golden Marmot and Hanging Glacier in the northwest to Bridge Zone in the southeast.

To view an enhanced version of Figure 1, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_003full.jpg

Figure 2. Long section view (looking west) of the Brucejack Property. Refer to figure 1 for the location of the cross section. Viewing window is +/- 150 meters.

To view an enhanced version of Figure 2, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_004full.jpg

Red Chris, British Columbia, Canada(2)

Red Chris is a joint venture between Newcrest (70%) and Imperial Metals Corporation (30%) and is operated by Newcrest.

The Brownfield 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 seven diamond drill rigs in operation. A further 20,926m of drilling has been completed from 27 drill holes, with all drill holes intersecting mineralisation. This contributed to a total of 286,300m of drilling from 278 drill holes since Newcrest acquired its interest in the joint venture in August 2019.

At East Ridge, located adjacent to the East Zone, drilling is ongoing with 63 holes completed and 6 in progress. The follow up drilling is being completed on a nominal 100m x 100m grid to determine the footprint and characterise the mineralisation, and to demonstrate the continuity of the higher-grade mineralisation. Drilling to date has tested a corridor 900m long and to a vertical extent of 1,000m within which zones of higher grade mineralisation have been identified.

East Ridge is outside of Newcrest's Mineral Resource estimate. Diamond drilling continues to define the extent and continuity of this higher grade mineralisation. A further 25 diamond drill holes are planned, at a minimum, to test and close out the target mineralisation. This program is expected to be completed by the second quarter of calendar year 2023.

Results for the reporting period include:

  • RC808
    • 222m @ 0.44g/t Au & 0.61% Cu from 818m
    • including 46m @ 1.2g/t Au & 1.3% Cu from 936m
    • including 28m @ 1.5g/t Au & 1.6% Cu from 936m
  • RC813
    • 298m @ 0.26g/t Au & 0.31% Cu from 446m
    • including 52m @ 0.51g/t Au & 0.75% Cu from 458m
  • RC819
    • 334m @ 0.35g/t Au & 0.50% Cu from 1,276m
    • including 56m @ 0.83g/t Au & 0.80% Cu from 1,552m
    • including 22m @ 1.1g/t Au & 0.93% Cu from 1574m
  • RC820
    • 312m @ 0.49g/t Au & 0.49% Cu from 1,296m
    • including 182m @ 0.64g/t Au & 0.64% Cu from 1,406m
    • including 16m @ 1.7g/t Au & 1.2% Cu from 1,562m
    • 278m @ 0.74g/t Au & 0.44% Cu from 1,658m
    • including 66m @ 1.7g/t Au & 1.1% Cu from 1,870m
    • including 22m @ 3.3g/t Au & 1.8% Cu from 1,882m
  • RC835
    • 284m @ 0.75g/t Au & 0.63% Cu from 1,295m
    • including 112m @ 1.4g/t Au & 1.0% Cu from 1,433m
    • including 86m @ 1.7g/t Au & 1.2% Cu from 1,459m

Drilling continues to expand the vertical extent of the East Ridge mineralisation. The latest drilling results from holes RC819, RC820 and RC835 extend the higher grade mineralisation by a further 100m at depth to more than 600m vertical. All holes remain open at depth.

These results demonstrate further support of the upside range of the Exploration Target defined in the June 2022 Quarterly Exploration Report dated 21 July 2022. The Exploration Target potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Drilling within the Exploration Target area also continues to define the continuity of the higher grade mineralisation in hole RC808, located 100m above RC786 (previously reported).

The East Ridge mineralised corridor (>0.4g/t Au and >0.4% Cu) extends over 900m long, up to 1,000m high and 125m wide, with higher grade (>0.8g/t Au and >0.8% Cu) in several smaller pods over an area 500m high, 400m long and 100m wide.

Approximately 50,000m of growth-related drilling targeting mineralisation definition and continuity is planned for the first half of FY23 from eight drill rigs.

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

Figure 3. Schematic plan view map of the Red Chris porphyry corridor spanning East Ridge, East Zone, Main Zone and Gully Zone showing significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report), 0.3g/t Au, 1g/t Au, 0.3% Cu and 1% Cu shell projections generated from a LeapfrogTM model.

To view an enhanced version of Figure 3, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_005full.jpg

Figure 4. Long section view (looking North West) of the Red Chris porphyry corridor showing drill hole locations, gold distribution and Exploration Target (previously released).

To view an enhanced version of Figure 4, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_006full.jpg

Havieron Project, Western Australia, Australia(3)

The Havieron Project is operated by Newcrest under a Joint Venture Agreement (JVA) with Greatland Gold. Newcrest is the manager and holds a 70% interest in the Havieron Project (Greatland Gold holds a 30% interest). The JVA 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. The Joint Venture commenced drilling during the June 2019 quarter and has completed 269,585m of drilling from 327 drill holes to date (excluding holes in progress, abandoned holes, or drill holes which have not been sampled).

Drilling activities in the quarter have produced a further 20,345m of drilling from 21 holes with up to 6 drill rigs operating during the quarter. New assay results are reported from 20 drill holes (7 were assays pending from previous quarter). Of the reported holes, 11 holes returned significant assay intercepts in excess of 50 gram metres gold (Au ppm x length m).

Growth drilling targeting mineralisation definition and continuity continues to show potential for resource additions outside of the existing Indicated and Inferred Mineral Resource limits, including:

  • Extensions of the Eastern Breccia including definition of identified internal higher grade zones - assay results reported for 8 drill holes, 3 holes awaiting assays.
  • Extensions to the Northern Breccia at depth between the current Northern Breccia Resource and Eastern Breccia Resource - assay results reported for 4 drill holes, 2 holes awaiting assays.
  • Extension of the South East Crescent at depth below the current Mineral Resource - assay results reported for 5 drill holes.
  • Drilling is continuing to target geophysical targets outside of the main Havieron system - 3 drill holes results reported and 4 holes awaiting assays from step out drilling north and south of the Havieron system.

At the Eastern Breccia, assays for 8 holes targeting strike and depth extensions from previously reported drill holes have been received, with 3 holes awaiting assays. The Eastern Breccia is developed below the 4,100RL with a footprint of over 500m in strike, up to 200m in width, and over 250m in vertical extent. Within this zone multiple northwest trending internal higher-grade (>1 g/t Au) sulphide dominated domains are observed. The Eastern Breccia remains open at depth and to the northwest and southeast.

Results for the quarter further highlight geological continuity within the Eastern Breccia with results extending the high grade zones ~170m to the southeast of the current Eastern Breccia Mineral Resource. Drilling within the Eastern Breccia footprint is ongoing to confirm the continuity of internal higher grade sulphide zones.

Results include:

  • HAD104W3
    • 62m @ 3.0g/t Au & 0.12% Cu from 1,566m.
    • including 26.7m @ 6.4g/t Au & 0.16% Cu from 1,593m.
  • HAD145AW5
    • 168m @ 0.69g/t Au & 0.27% Cu from 1,623m.
    • including 11.3m @ 2.4g/t Au & 0.53% Cu from 1,686m.
    • 38m @ 1.9g/t Au & 0.17% Cu from 2,038m.
    • including 23m @ 2.5g/t Au & 0.16% Cu from 2,053m.
  • HAD152W2
    • 120m @ 2.1g/t Au & 0.17% Cu from 1,724m.
    • including 20.3m @ 3.1g/t Au & 0.68% Cu from 1,781.7m.
  • HAD152W3
    • 82m @ 2.7g/t Au & 0.21% Cu from 1,695m.
    • 64.5m @ 2.8g/t Au & 1.1% Cu from 1,798m.
    • including 13.5m @ 9.8g/t Au & 0.89% Cu from 1,843.5m.

At the Northern Breccia a new zone of high grade sulphide mineralisation is being defined within the ~200m gap between the current Northern Breccia and Eastern Breccia Mineral Resource volumes. This new zone originally intercepted in HAD093^^, 76.7m @ 1.9 g/t Au & 0.07 % Cu from 1,306.13m including 18.2m @ 10 g/t Au & 0.17 % Cu from 1,347.8m and HAD101^^ 92.5 m @ 1.9g/t Au & 0.06% Cu from 1,296m has now been defined over a NW trending strike length of 100m in HAD098W2, HAD098W3 and HAD098W5, and remains open to the northwest. Drilling is ongoing to define the extents of this higher grade zone of mineralisation with the potential to provide incremental resource growth.

Results include:

  • HAD098W2
    • 27m @ 1.9g/t Au & 0.19% Cu from 1,170m.
    • including 12m @ 3.7g/t Au & 0.26% Cu from 1,178m.
    • 39.3m @ 2.1g/t Au & 0.12% Cu from 1,335.7m.
    • 20.7m @ 3.6 g/t Au & 0.43 % Cu from 1,387.3m.
  • HAD098W3
    • 15.4m @ 12 g/t Au & 0.27% Cu from 1,379.6m.
  • HAD098W5
    • 106.2m @ 0.78g/t Au & 0.12% Cu from 1,114.7m.
    • 81.3m @ 3.2g/t Au & 0.29% Cu from 1,357.2m.
    • including 53.3m @ 3.5g/t Au & 0.30% Cu from 1,360.5m.

South East Crescent growth drilling continued during the quarter targeting higher grade mineralisation at depth below the current Mineral Resource. Results were received from 5 drill holes indicating an extension of Crescent style mineralisation up to 100m to the northwest of the current Mineral Resource between 4,100mRL and 4,000mRL. Additionally, HAD153W2 extended Crescent style mineralisation ~100m to the west of the current South East Crescent Mineral Resource on the 3,900mRL.

Results include:

  • HAD086W5
    • 39.9m @ 4.6g/t Au & 0.10% Cu from 1,401.1m.
    • including 20.6m @ 8.7g/t Au & 0.13% Cu from 1,403m.
    • 41.9m @ 1.7g/t Au & 0.11% Cu from 1,491.8m.
    • including 16.1m @ 3.9g/t Au & 0.12% Cu from 1,512m.
  • HAD086W6
    • 110m @ 1.7g/t Au & 0.16% Cu from 1,337m.
    • including 12.9m @ 3.5g/t Au & 0.49% Cu from 1,356.1m
    • including 20.7m @ 4.4g/t Au & 0.10% Cu from 1,380.3m.
  • HAD152W2
    • 20m @ 7.6g/t Au & 0.14% Cu from 1,453m.
    • including 16m @ 9.4g/t Au & 0.17% Cu from 1,455m.
  • HAD153W2
    • 21.5m @ 3.0g/t Au & 0.22% Cu from 1,663.5m.

Testing for system depth extents, HAD156 successfully intersected mineralisation 450m below the current Mineral Resource extents on the 3,400mRL returning 30m @ 1.5g/t Au & 0.18% Cu from 2,079m. Further analysis is required to confirm if this intercept links up to the South East Crescent, or Eastern Breccia, or if it is a separate zone, but it demonstrates the Havieron mineralised system has the potential to extend over 1,450m from the base of the Permian cover sequence.

Drilling to test geophysical targets outside of the known Havieron mineralised system, including evaluating the Havieron dolerite at multiple intervals north and south of the Havieron mineralised envelope revealed no significant intercepts from three drill holes (HAD157, HAD158 and HAD160). Three additional holes are awaiting assays.

Ongoing drilling is planned for the Eastern Breccia, Northern Breccia and camp scale targets external to the Havieron mineralised footprint.

Refer to Appendix 3 for additional information and Drillhole data table for all results reported during the period.

Figure 5. 3D Plan view schematic showing the spatial association of the South East Crescent, Northern Breccia, North West Pod and Eastern Breccia in relation to the current exploration growth target areas and the Mineral Resource extents. Also highlighted are selected previously reported^^ and new intercepts >100 gram metres (Au ppm x length) that have been intersected outside of the Inferred Mineral Resource. Intercepts are projected to the 4600RL.

To view an enhanced version of Figure 5, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_007full.jpg

Figure 6. 3D oblique view of the Havieron system viewed from the south-east, showing the position of high-grade intercepts (previously^^ reported and new) and mineralised zones >100 gram metres (Au ppm x length) that have been intersected outside of the Mineral Resource extents. Further higher-grade mineralisation and assay results continue to support incremental expansion of the Northern Breccia and Southeast Crescent, as well as extensions to the Eastern Breccia (refer to Figure 5 for spacial relationship of drill holes and zones).

To view an enhanced version of Figure 6, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_008full.jpg

Figure 7. Plan view schematic of a horizontal slice at 3900mRL 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. This diagram highlights >50 gram metres intersections drilled during the period, refer to inset diagram for relationship to all Havieron drilling.

To view an enhanced version of Figure 7, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_009full.jpg

Wilki Project, Western Australia, Australia

The Wilki Project is an exploration farm-in and joint venture with Antipa Minerals Limited (Antipa). The project area covers a strategic landholding of ~2,200km2 surrounding the Telfer operation and is adjacent to the Havieron Project. Newcrest entered into this exploration farm-in and joint venture agreement with Antipa on 11 March 2020. Newcrest currently also has a 9.9% shareholding in Antipa.

As previously highlighted, Newcrest has elected to proceed to the next stage (Stage 1) of the farm-in agreement following completion of the initial exploration expenditure commitment (A$6 million). Newcrest has the potential to earn a 51% joint venture interest in the Wilki Project through expenditure of a further A$10 million by March 2025 during Stage 1. As of 1 July 2022, Newcrest is now the manager and operator of the Wilki Project.

Cultural clearance activities commenced over priority areas during the quarter allowing access for soil sampling and follow up drilling will be ready for execution on completion of access.

Juri Joint Venture, Western Australia, Australia

The Juri Joint Venture is a farm-in and joint venture agreement with Greatland Gold with respect to the Black Hills and Paterson Range East projects, located within the Paterson Province approximately 50km from the Telfer operation and in proximity to the Havieron Project. The joint venture covers an area of approximately 248km2. Newcrest currently has a 51% interest in the Juri Joint Venture. Under the terms of the agreement, Newcrest has the potential to earn an additional 24% joint venture interest through expenditure of a further A$17 million by October 2024.

Drilling was completed at the A9 target and the initial hole of a planned two hole program was completed at Tama. Assay results are currently pending. Further work will be focused on the A27 anomaly in Black Hills region.

Western USA

During the quarter Newcrest entered into agreements with two separate companies in the Great Basin Region in North America. The Great Basin is a prospective region for gold deposits of multiple types including epithermal deposits.

Newcrest entered into four separate definitive option and earn-in agreements with Headwater Gold Inc. (Headwater Gold) and purchased a 9.9% equity interest in the company. Newcrest has the option to acquire up to a 75% interest individually in each of Headwater Gold's Agate Point, Midas North and Spring Peak Projects in Nevada and the Mahogany Project in Oregon. At Spring Peak, preparation is underway for diamond and RC drilling in the December 2022 quarter to follow up on promising gold intercepts completed by Headwater Gold in late 2021. Target definition work is currently underway at Midas North.

Newcrest has also signed an option and earn-in agreement with Gunpoint Exploration Ltd. (Gunpoint) to acquire up to 75% of the Appaloosa property located in Nevada, USA (with an option to acquire the remaining 25% of Appaloosa post the earn-in period). Appaloosa is an underexplored mineralised structural zone situated within Gunpoint's Talapoosa gold-silver project. Newcrest is currently performing target definition work including mapping, geophysics and rock chip and channel sampling.

Central Andes, Northern Chile

During the September 2022 quarter, Newcrest provided notice to Mirasol Resources and Cornerstone Capital Resources to terminate the earn-in agreements at the Gorbea and Mioceno projects, respectively.

Northern Andes, Ecuador

Planning is in progress for the second phase of scout drilling at the Gamora Project, located in southeast Ecuador. This work is being conducted by Newcrest as the operator under an earn-in agreement with Lundin Gold Inc. (Lundin Gold) pursuant to which Newcrest can earn up to a 50% interest in eight exploration concessions. The concession area covers strategic landholdings to the north and south of Lundin Gold's Fruta del Norte mining operation. The next phase of drilling at Gamora will focus on testing priority copper-gold porphyry targets starting in the December 2022 quarter.

Appendix 1

Brucejack (100% Newcrest): JORC Table 1

Section 1: Sampling Techniques and Data

CriteriaCommentary
Sampling techniquesCore samples are obtained from core drilling. HQ diameter diamond core was drilled on a 3m run. Whole core was sampled at 1.5m intervals except where visible gold was identified, in which case the sample length was shortened to 1.0 or 0.5m.
Drilling techniquesCore drilling was advanced with HQ diameter coring configuration. Core from select inclined drill holes are oriented on 3m 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 recoveryCore 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.
LoggingGeological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled - 43,644m).Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements. All geological and geotechnical logging was conducted at the Brucejack Mine. Digital data logging was captured, validated and stored in a GeoSpark database. All drill cores were photographed, prior to sampling the core.
Sub-sampling techniques and sample preparationSampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.Whole core HQ samples. Whole core samples were collected in plastic bags together with pre-numbered sample tags and grouped into shipping bins for dispatch to the laboratory by dedicated transport. Sample lengths were typically 1.5m, and weights typically varied from 11 to 15kg, with an average weight of approximately 12.5 Kg. Sample sizes are considered appropriate for the style of mineralisation. All drill core samples were freighted by road to the laboratory via hired transport.Sample preparation was conducted at the independent ISO 9001 certified and ISO 17025 accredited ALS Global preparation laboratories. Samples were dried at 600C, and crushed to 90% passing 2 mm, and split to obtain up to 1 kg sub-sample, which was pulverised (using LM2) to produce a pulped product with the minimum standard of 85% passing 75μm.Duplicate sample data are available from crush and pulp samples at a rate of approximately 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation.
Quality of assay data and laboratory testsAssaying of drill core samples was conducted at ALS in North Vancouver. All samples were assayed for 33 elements using a 4-acid digestion followed by ICP-OES determination (method ME-ICP61). Gold analyses were determined by 50g fire assay with atomic absorption finish (method Au-AA26; with trigger to Au-Gra22 50g gravimetric overlimit method at 18 ppm). 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 Geospark SQL database and verified as acceptable prior to formal use of data from analysed batches. Laboratory quality duplicates including replicates and preparation duplicates are captured in the Geospark SQL database and assessed.Prepared pulp splits for mineralized samples were sent to MS Analytical Labs in Langley BC for secondary lab check work by comparable Au and ICP methods to ensure agreement with original results; check pulps were prepared for 20 samples, from 5 of the Golden Marmot holes, and overall a representative 5-7% of mineralized samples for VOK drilling was sent for secondary lab checks, including North Block Phase 4 and 1080 East level drilling. Comparisons are acceptable.Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved. 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 assayingSampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core sampling. Corresponding sample numbers matching pre-labelled sample tags are assigned to each interval. All sampling and assay information were stored in a secure GeoSpark database with restricted access. 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 GeoSpark database. Assessment of reported significant assay intervals was verified by review of visible gold identified in the drill core and review 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 pointsAll collar coordinates are provided in the North American Datum (NAD83 Zone 9N). 1080 HBx: Underground drill collar locations are marked up by the survey department with spray paint, and a back site and foresight are provided to enable alignment; Drills are then aligned by the drill contractor based on the markup and sights, and a TN-14 collar Gyro is used to confirm orientation prior to drilling. Golden Marmot: Surface drill collar locations are marked with a stake, and a back site and fore site are provided to enable alignment. Collar locations are picked up using a Trimble 7-series differential GPS and a TN-14 collar Gyro is used to confirm orientation prior to drilling. Topographic control is established from 2014 Lidar.
Data spacing and distribution1080 HBx: Drill hole spacing is 15m laterally. Assays have been received for six drill fans to date, which is insufficient for estimation of a Mineral Resource. Golden Marmot: Drill hole spacing was at 30m horizontal spacing within an area of 0.75km2. The current drill hole spacing does not provide sufficient information for the estimation of a Mineral Resource.No sample compositing is applied to samples.
Orientation of data in relation to geological structureDrill holes at 1080 HBx are oriented towards 205 degrees in order to drill perpendicular to the broadly WNW-ESE oriented mineralization domains. Drilling at 1080 HBx intersected a mineralized structure oriented sub-parallel to Domain 20, hosted in the Eastern Promises Porphyry unit. Drill holes at Golden Marmot are oriented towards either 145 degrees or 325 degrees in order to drill perpendicular to the mineralization domains which broadly strike towards 115 degrees.
Sample securityThe security of samples is ensured by tracking samples from drill rig to database and by using trusted transportation services, and third party laboratories with security protocols.Drill core was delivered from the drill rig to the Brucejack Core Facility. Geological and geotechnical logging, high resolution core photography and whole core sampling was undertaken at the Brucejack Core Facility.Sample numbers are obtained from pre-made sample tag books, first ensuring no duplication of sample ID's in the database. Sample tags are inserted into labelled plastic bags together with the sample, and the bagged sample secured with a zip tie.Samples were grouped in sequence into rice bags, then placed into dedicated sample shipment bins for transport offsite. Samples are transported by road to the preparation lab where transfer of custody occurs.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 shipments are recorded in a shipment tracking table and require offsite removal forms prior to leaving the Brucejack site. Shipping dates, Hole IDs, sample ranges, and special instructions are recorded with the dispatch of samples to the laboratory analytical services. Receiving laboratories have a workorder template of methods and duplicates by which to process the samples unless otherwise specified. Any discrepancies noted during sample login at the laboratory are communicated and addressed.
Audits or reviewsDue 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

CriteriaCommentary
Mineral tenement and land tenure statusBrucejack comprises 346 mineral tenures including four mining leases and is 100% owned by Newcrest Mining Limited. All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing.
Exploration done by other partiesGranduc, Esso, Newhawk, Lacana Mining Corp., and Silver Standard conducted exploration in the area between 1960 and 2010. Pretium Resources acquired the Brucejack Property in 2010 and drilled the discovery hole at the Valley of the Kings in 2011. North Block and 1080 level were first drilled in 2020. Golden Marmot was previously drilled in 1988 and 2011.
GeologyThe Brucejack Project is located in the Stikine terrane of north-western British Columbia, 50 km north of the town of Stewart. Early Jurassic sedimentary and volcanic rocks of the Lower Hazelton Group host mineralisation. A pervasive quartz-pyrite-sericite alteration event predates the main stage of epithermal mineralisation. Gold mineralisation at Brucejack consists of electrum hosted in vein stockworks, sheeted veins, and veinlets.
Drill hole informationAs provided.
Data aggregation methodsSignificant assay intercepts are reported as length-weighted averages exceeding 0.6g/t Au greater than or equal to 10m, with less than 7.5m of consecutive internal dilution. Also reported are intervals greater than 150g/t Au. Intervals below a cutoff of 1.0gt Au were not reported as significant results. No top cuts are applied to intercept calculations.
Relationship between mineralisation widths and intercept lengthsSignificant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.
DiagramsAs provided.
Balanced reportingThis is the third release of Exploration Results for this project made by Newcrest. Exploration results have been reported by Newcrest since April 2022.Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.
Other substantive exploration dataNil.
Further workDrilling is currently underway at 1080 HBx to complete the remaining 5 drill fans in the program. . Follow up drilling is also being planned for the Bridge Zone, Eastern Promises, and West VOK.

 

Drillhole data(1)

Brucejack, British Columbia, CanadaReporting Criteria: Intervals are reported as length-weighted averages exceeding 0.6g/t Au greater than or equal to 10m, with less than 7.5m of consecutive internal dilution. Also reported are intervals greater than 150g/t Au. Intervals below a cutoff of 1.0gt Au were not reported as significant results. Samples are from core drilling which is HQ in diameter. Core is photographed and logged by the geology team before being whole core sampled and sent for assay. Each assay batch is submitted with duplicates and standards to monitor laboratory quality.

Hole ID Hole Type Easting (m) Northing (m) RL(m) Total Depth (m) Azimuth Dip From (m) To (m) Interval (m) Au (ppm) Cut off
VU-4329DD42675662578391087444.4205-4561.591.530100.6
102129272.20.6
153180272.00.6
193.5211.5182.20.6
292.5309.416.91.80.6
332360281.50.6
VU-4330DD42675662578391088372205-36.764.594.5301.00.6
123141181.70.6
202.527976.5130.6
incl.227.5228.51426150
incl.271.922731.08189150
288370.582.57.90.6
incl. 3413421409150
VU-4331DD42675662578381088407.6205-30.1106.512316.56.00.6
135156211.40.6
177211.534.51.30.6
337.5407.670.1350.6
Incl.361.5362.512310150
VU-4332DD42675662578381088365.8205-23.65161.510.51.30.6
76.59013.51.30.6
105153482.10.6
247.6248.61408150
268.5283.5155.50.6
VU-4333DD42675662578391088282.2205-17.42748211.00.6
58.510849.55.50.6
229.5241.5121.30.6
VU-4334DD42675662578391089267205-9.12739121.60.6
52.513279.53.00.6
VU-4335DD42675662578391089234.12050.246.594.5481.70.6
VU-4336DD42675662578391089218.32058.949.59040.58.10.6
incl. 8485.51.5175150
108120123.60.6
VU-4337DD42675662578391090200.820517.924105812.20.6
VU-4338DD42675662578391090182.720526.61294.582.51.40.6
VU-4339DD42675662578391091125.520533.61124131500.6
incl. 121311850150
VU-4340DD42675662578391091110.820540.549.575.1325.63880.6
Incl. 50.551.512100150
VU-4405DD42681062578481087393.2205-37.3179286.5107.53.60.6
VU-4406DD42681062578481087360.2205-30.222.537.5151.60.6
98109.511.5160.6
Incl.98991158150
121.5157.5361.70.6
237250.513.51.00.6
279292.513.51.10.6
301.535957.5290.6
incl. 316.5317.51186150
incl. 32432511414150
VU-4407DD42681062578481087321.2205-23.826271152150
58.58425.51.60.6
108142.534.57.40.6
incl.1401411235150
2062071480150
291304.513.52.40.6
VU-4408DD42681062578481088351.4205-17.2930211.60.6
43.56319.51.20.6
220.523413.51.20.6
316.5351.434.93.10.6
VU-4409DD42681062578481088420.2205-9.27.531.524210.6
incl. 16171408150
55.756.711064150
91.511119.55.50.6
121.5142.5211.60.6
249262.513.55.70.6
300319.319.32.20.6
346.536013.51.20.6
VU-4410DD42681062578481088336.3205-0.48499151.10.6
295.531822.52.00.6
VU-4411DD42681062578481088300.42058.131.57846.53.40.6
216226.510.51.60.6
261283.522.51.20.6
VU-4412DD42681062578481089242.720517.782.59310.5120.6
120132122.60.6
VU-4413DD42681062578481089221.8205254.52116.5130.6
3970.531.52.50.6
VU-4414DD42681062578481090179.720533.327281216150
52.570.5183.00.6
VU-4415DD42681062578481090137.720539.95.56.511575150
5470.516.52.40.6
VU-4527DD42674062578391088447.1205-36.931.54210.52.80.6
84174901.10.6
213447.1234.11.70.6
VU-4528DD42674062578391088429205-30.1240265.525.51.50.6
340.5394.5542.70.6
VU-4529DD42674062578391088441205-23.946.58740.53.60.6
118.515738.5360.6
incl. 15615711315150
370.5406.5362.20.6
VU-4530DD42674062578391088420205-17.548145971.90.6
230.5231.511865150
231.5232.51189150
VU-4531DD42674062578401089410.6205-9.384147633.40.6
298.5373.5751.10.6
VU-4532DD42674062578401089413.72050.516.5121.51052.00.6
VU-4533DD42674062578401089156.12058.91545301.70.6
55.5121.5661.40.6
VU-4534DD42674062578391090212.920517.863112.549.56.50.6
147.36158.0610.7580.6
Incl..147.36148.361611150
198212.914.91.50.6
VU-4535DD42674062578391090188.620526.61525.510.51.50.6
11012919.51.00.6
VU-4536DD42674062578401091161.720533.3103.512319.51.10.6
VU-4537DD42674062578391091101.220540.3No significant results
VU-4546DD42682662578481087243.2205-37224221780.6
incl.2313876150
62.263.21187150
118.513819.52.00.6
165222571.10.6
VU-4547DD42682662578481087336.1205-29.678106.528.51.90.6
VU-4548DD42682662578481088200.6205-22.9175.518610.52.00.6
1992001157150
VU-4549DD42682662578481088186.3205-14.592111191.50.6
156184.528.51.90.6
VU-4550DD42682662578481089147.3205-7.901.51.5451150
849915150.6
130.5145.5156.60.6
VU-4551DD42682662578481089389.92051.62749.522.53.80.6
67.582.5151.20.6
VU-4552DD42682662578481090300.420511.9No significant results
VU-4553DD42682662578481090290.72052358.57213.51.20.6
258274.516.51.70.6
VU-4554DD42682662578481091101.720534.16070.510.55.00.6
VU-4555DD42682662578481092104.920543.5No significant results
SU-872DD42547962618321702418.2147-49.8No significant results
SU-873DD42547662618331702433.5149-62.51154.516712.59.90.6
269.5270.513010150
SU-874DD42575262617001770191.7325-50.71148.516213.5250.6
incl. 150151.51.5216150
SU-875DD42575262617001770341.5327-73.89183193.510.5320.6
incl. 1901911328150
202.521613.51.50.6
SU-876DD42575262617001770369352-59.42No significant results
SU-877DD42575262617001770404351-75.76195207121.80.6
SU-878DD42557062618021716361.3146-44.68171183121.10.6
SU-879DD42557062618021716457.3145-52.05100.519291.59.10.6
incl. 138139.51.5514150
SU-880DD42557062618021716376.3146-59.951857391.00.6
114.413823.62.00.6
192204121.60.6
2712721202150
273.5274.51354150
SU-881DD42557062618641724425.2199-45.397.5109.5121.20.6
SU-882DD42556962618681723379.9200-57.5148.5163.5151.80.6
174.318914.71.10.6
SU-883DD42575762616391762352.6326-75.792931275150
313.5331.5184.00.6
SU-884DD42558662618771721364.8146-55.8100.5124.5241.00.6
141205.564.52.50.6
SU-885DD42582862616121780442.2020-50Assays pending
SU-886DD42552862618071712290.1147-44.44093532.00.6
126166.3340.332.60.6
SU-887DD42552862618071710438.1148-52.46127162.335.31.00.6
SU-888DD42552862618071710456.5147-59.9666112.546.5160.6
incl. 77.578.51488150
incl. 99.5100.51236150
180192.512.56.90.6
SU-889DD42597162614301764394.522-45.12No significant results
SU-890DD42562862618691724184.2147-44.9984163.579.51.10.6
SU-891DD42562862618681723280.5146-57.6129187.558.51.20.6
196.5217.5211.20.6
207.16242.535.341.30.6
SU-892DD42562862618691723367.9145-70Assays pending
SU-893DD42554262618931710442.8145-45Assays pending
SU-894DD42554262618921709547.6145-55Assays pending
SU-895DD4254486261452157849455-45Assays pending
SU-896DD4254476261451157766655-60Assays pending
SU-897DD42575462616431765307.4325-65Assays pending
SU-898DD42561162617961727352.4145-45Assays pending
SU-899DD42561162617961727448.2145-52.5Assays pending
SU-900DD42561162617961727388.4145-60Assays pending
SU-901DD42597262614301748676.820-75Assays pending
SU-902DD42556962616951705311.2325-55Assays pending
SU-903DD42557062616941704472.9325-65Assays pending
SU-904DD42582862616141782796.820-65Assays pending
SU-905DD42535662615111565605.155-45Assays pending
SU-906DD42528962615561541800.455-60Assays pending
SU-907DD42569762617271754186.5325-50Assays pending
SU-908DD42569862617261755271.4325-80Assays pending
SU-909DD42544762620381632404.2340-50Assays pending
SU-910DD42545362620361635653.555-50Assays pending
SU-911DD42545062620381636511.680-50Assays pending
SU-912DD42532162618291640604.1145-50Assays pending
SU-913DD42522362618231592600.3145-50Assays pending
SU-914DD42541962619161660544.4145-50Assays pending
SU-915DD42541962619171660556.7145-60Assays pending
SU-916DD42546262619031679466.3145-45Assays pending
SU-917DD42546262619051678487.5145-52Assays pending
SU-918DD42546262619051679514.5145-60Assays pending
SU-919DD42550262619021695551145-57.5Assays pending
SU-920DD42506262619881498402.7340-50Assays pending
SU-921DD42548762619611666538.3143-51Assays pending
SU-922DD42548662619611665596.6143-58Assays pending
SU-923DD42571862618001754249325-50Assays pending
SU-924DD42551462620261634521145-60Assays pending
SU-925DD42553262619581675445.9145-45Assays pending
SU-926DD42553362619571675566.6145-60Assays pending
SU-927DD42585362617241769301.6335-50Assays pending

 

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

Figure 8. Schematic plan view map of 1080 HBx showing the location of the four drill fans from this release, the previously released drill fans, and the additional planned drilling, relative to Domain 20 and Domain 13.

 To view an enhanced version of Figure 8, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_010full.jpg

Figure 9. Cross section for drill fan 1080_37_ELAT17_40 (as shown on Figure 8) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

To view an enhanced version of Figure 9, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_011full.jpg

Figure 10. Cross section for drill fan 1080_37_ELAT17_39 (as shown on Figure 8) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

To view an enhanced version of Figure 10, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_012full.jpg

Figure 11. Cross section for drill fan 1080_37_WLAT18_36 (as shown on Figure 8) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

To view an enhanced version of Figure 11, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_013full.jpg

Figure 12. Cross section for drill fan 1080_37_WLAT18_35 (as shown on Figure 8) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

To view an enhanced version of Figure 12, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_014full.jpg

Figure 13. Schematic plan view map of the Golden Marmot drilling showing the location of the drill fans and previous drilling.

To view an enhanced version of Figure 13 please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_015full.jpg

Figure 14. Cross section for drill holes SU-872, SU-873, SU-902, SU-903, SU-914, SU-915 (as shown on Figure 13) showing all significant intercepts. Due to window size (+/- 30m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 14, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_016full.jpg

Figure 15. Cross section for drill holes SU-886, SU-887, SU-888, SU-916, SU-917, SU-918 (as shown on Figure 13) showing all significant intercepts. Due to window size (+/- 30m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 15, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_017full.jpg

Figure 16. Cross section for drill holes SU-878, SU-879, SU-880 (as shown on Figure 13) showing all significant intercepts. Due to window size (+/- 30m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 16, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_018full.jpg

Figure 17. Cross section for drill hole SU-884 (as shown on Figure 13) showing all significant intercepts. Due to window size (+/-30m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 17, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_019full.jpg

Figure 18. Cross section for drill holes SU-883, SU-890, SU-891, SU-892, SU-897, SU-908, SU-924 (as shown on Figure 13) showing all significant intercepts. Due to window size (+/-20m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 18, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_020full.jpg

Figure 19. Cross section for drill holes SU-874, SU-875 (as shown on Figure 13) showing all significant intercepts. Due to window size (+/-20m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 19, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_021full.jpg

Figure 20. Cross section for drill holes SU-876, SU-877 (as shown on Figure 13) showing all significant intercepts. Due to window size (+/-20m) and section orientation (090˚) holes may appear on multiple sections.

To view an enhanced version of Figure 20, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_022full.jpg

Figure 21. Cross section for drill holes SU-881, SU-882 (as shown on Figure 13) showing all significant intercepts. Due to window size (+/-20m) and section orientation (090˚) holes may appear on multiple sections.

To view an enhanced version of Figure 21, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_023full.jpg

Appendix 2

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

CriteriaCommentary
Sampling techniquesCore 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 techniquesCore 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 recoveryCore 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.
LoggingGeological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled - 20,925.8m in 27 holes - all holes intersected 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.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 preparationSampling, 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 wood crates 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 testsAssaying 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 the 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 assayingSampling 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 pointsDrill 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 distributionThe 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. An initial Mineral Resource for the East Zone, Main Zone and Gully Zone was released on 31 March 2021. No sample compositing is applied to samples.
Orientation of data in relation to geological structureDrilling of reported drill holes RC804W, RC805, RC805W2, RC807, RC808, RC809, RC811, RC813, RC814, RC815, RC816R, RC818, RC819, RC820, RC822, RC825, RC832, RC834, RC835, RC839 and RC844 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 securityThe 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 reviewsDue 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

CriteriaCommentary
Mineral tenement and land tenure statusRed Chris (including the GJ Property) comprises 204 mineral claims 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. In June 2022, Newcrest closed the acquisition of four early stage exploration properties from Hawkeye Gold & Diamond. The Todagin, McBride and Railway properties are expected to be added to the Red Chris Joint Venture.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 amended and restated 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 partiesConwest 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.
GeologyThe 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 informationAs provided.
Data aggregation methodsSignificant 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 lengthsSignificant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.
DiagramsAs provided.
Balanced reportingThis is the twentieth release of Exploration Results for this project made by Newcrest. Exploration results have been reported by Newcrest since January 2020.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 dataNil.
Further workFurther drilling is planned to define the extents of the East Ridge, Main Zone and Gully Zone.

 

Drillhole data(1)

Red Chris Project, British Columbia, CanadaReporting 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 and copper 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 Dip From (m) To (m) Interval (m) Au (ppm) Cu (pct) Cut off
RC804WDD  453877639698513421684.2147-5714581534760.120.350.1
15541618640.120.340.1
RC805DD  453731639698913641133.5144-5810561082260.130.040.1
RC805W2DD  453731639698913641330.1144-5812761330.154.10.140.510.1
RC807DD  453758639676113751619.4148-5891810501320.350.400.1
incl.9901032420.610.540.5
108814303420.270.420.1
incl.12581298401.00.880.5
14421528860.120.200.1
RC808DD  453753639658213941442.0148-552444200.200.000.1
736758220.160.450.1
774800260.100.290.1
81810402220.440.610.1
incl.888922340.520.810.5
incl.936982461.21.30.5
incl.936964281.51.61
RC809DD  453826639681613521812.2146-5691010501400.220.420.1
incl.10201038180.520.930.5
109813462480.170.340.1
RC811DD  451453639532715241043.3147-71141201060.140.020.1
152192400.110.040.1
2225182960.440.290.1
incl.278290120.620.330.5
incl.3384641260.620.390.5
5368503140.230.250.1
9261014880.140.190.1
RC813DD  451622639586815291198.4151-54216238220.110.130.1
322398760.250.310.1
4467442980.260.310.1
incl.458510520.510.750.5
796816200.170.130.1
8521198.4346.40.310.330.1
incl.910944340.580.370.5
RC814DD  451528639604015291289.4149-57404426220.110.040.1
4867542680.250.200.1
incl.606616100.710.390.5
9301020900.210.130.1
110012821820.220.250.1
RC815DD  453889639675013471634.0149-54764818540.130.290.1
12301260300.110.390.1
RC816RDD  453753639658213941257.9149-48842910680.150.330.1
RC818DD  453208639691614642019.8146-6014541540860.230.270.1
164817641160.560.250.1
incl.16481698500.640.430.5
179019181280.100.080.1
RC819DD  453372639701014622065.5145-55127616103340.350.500.1
incl.15161540240.520.740.5
incl.15521608560.830.800.5
incl.15741596221.10.931
170820103020.240.350.1
RC820DD  453285639697014662069.0145-56129616083120.490.490.1
incl.140615881820.640.640.5
incl.15621578161.71.21
165819362780.740.440.1
incl.16581672141.10.500.5
incl.16841702180.810.360.5
incl.17961830340.640.200.5
incl.18701936661.71.10.5
incl.18821904223.31.81
incl.19161934181.21.11
19501980300.360.370.1
incl.19521962100.740.780.5
RC822DD  451664639598915421286.0148-58432506740.120.230.1
518590720.160.250.1
610674640.270.320.1
6928201280.110.130.1
916964480.330.140.1
98212802980.230.230.1
incl.10201032120.650.740.5
RC825DD  45348463964021417932.2145-53442494520.120.150.1
612676640.110.160.1
696750540.110.150.1
RC832DD  45141063960141520974.5147-59298326280.110.030.1
400470700.150.020.1
574664900.200.160.1
682710280.130.090.1
7589281700.330.340.1
incl.860926660.520.480.5
RC833DD  451611639609115291022.1149-58Assays Pending 
RC834DD  45314663964171448809.0149-48464490260.120.130.1
5347021680.170.110.1
RC835DD  453083639691314661808.6146-54129515792840.750.630.1
incl.13231355320.530.570.5
incl.13991413140.660.670.5
incl.143315451121.41.00.5
incl.14591545861.71.21
RC836DD  453111639659514422030.5141-65Assays Pending 
RC837DD  45147463959251529926.4149-60Assays Pending 
RC838DD  45147363959241529815.1149-50Assays Pending 
RC839DD  453807639667813811409.1148-58672698260.120.250.1
76211944320.220.40.1
12341276420.110.290.1
RC840DD  453667639694413711979.2147-62Assays Pending 
RC841DD  453896639705710981576.1145-48Assays Pending 
RC842DD  453733639699313631754.0148-56Assays Pending 
RC843DD  453628639653714031189.0146-53Assays Pending 
RC844DD  45170163958911536797.0145-58234262280.110.240.1
276350740.120.270.1
398422240.200.310.1
5007302300.210.200.1
incl.564574100.820.540.5
742770280.200.100.1
RC845DD  453628639653614041085.5145-47Assays Pending 
RC846DD  453831639702613521790.3145-57Assays Pending 
RC847DD  45086463951581520233.3150-63Development Hole
RC848#DD  453481639702414431901.3145-57Assays Pending 
RC849DD  45096663951811483200.3338-60Development Hole
RC850DD  45101563948981488200.0146-44Development Hole
RC851DD  45090863948561523250.2139-68Development Hole
RC852DD  45092563948171524229.6125-60Development Hole
RC853#DD  453109639659614421386.0154-63Assays Pending 
RC854#DD  453896639705710961311.1144-53Assays Pending 
RC855DD  454037639710211221214.7148-40Assays Pending 
RC856DD  451306639559614351050.0147-59Assays Pending 
RC857#DD  453253639706614711286.0146-57Assays Pending 
RC858#DD  45129763954771457782.2152-59Assays Pending 
RC859#DD  45315863970481471584.0149-58Assays Pending 

 

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

Figure 22. Schematic plan view map of East Ridge showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases). 0.3 g/t Au, 1 g/t Au, 0.3% Cu and 1% Cu shell projections generated from a LeapfrogTM model.

To view an enhanced version of Figure 22, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_024full.jpg

Figure 23. Schematic plan view map of Main Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases). 0.3 g/t Au, 1 g/t Au, 0.3% Cu and 1% Cu shell projections generated from a LeapfrogTM model.

To view an enhanced version of Figure 23, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_025full.jpg

Figure 24. Schematic cross section of RC811 (Section Line 12N - as shown on Figure 23) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 24, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_026full.jpg

Figure 25. Schematic cross section of RC832 (Section Line 15N - as shown on Figure 23) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 25, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_027full.jpg

Figure 26. Schematic cross section of RC813 and RC814 (Section Line 16N - as shown on Figure 23) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 26, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_028full.jpg

Figure 27. Schematic cross section of RC822 and RC844 (Section Line 17N - as shown on Figure 23) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 27, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_029full.jpg

Figure 28. Schematic cross section of RC834 (Section Line 32N - as shown on Figure 22) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 28, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_030full.jpg

Figure 29. Schematic cross section of RC835 (Section Line 34N - as shown on Figure 22) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 29, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_031full.jpg

Figure 30. Schematic cross section of RC818 and RC825 (Section Line 35N - as shown on Figure 22) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 30, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_032full.jpg

Figure 31. Schematic cross section of RC820 (Section Line 36N - as shown on Figure 22) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 31, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_033full.jpg

Figure 32. Schematic cross section of RC819 (Section Line 37N - as shown on Figure 22) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 32, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_034full.jpg

Figure 33. Schematic cross section of RC808 and RC816R (Section Line 38N - as shown on Figure 22) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 33, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_035full.jpg

Figure 34. Schematic cross section of RC807 and RC839 (Section Line 39N - as shown on Figure 22) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 34, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_036full.jpg

Figure 35. Schematic cross section of RC805/W2, RC809 and RC815 (Section Line 40N - as shown on Figure 22) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 35, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_037full.jpg

Figure 36. Schematic cross section of RC804/W (Section Line 41N - as shown on Figure 22) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from LeapfrogTM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 36, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_038full.jpg

Appendix 3

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

CriteriaCommentary
Sampling techniquesCore 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 techniquesPermian 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 is 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 recoveryCore 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.
LoggingGeological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled - 15,824m for 21 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 preparationSampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.Core was cut and sampled at the Havieron core processing facility. Half core samples of between 0.2 and 2.0 m 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 8kg. 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 testsAssaying 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 assayingSampling 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 pointsDrill 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 distributionWithin the South-East Crescent and Breccia zone drill hole spacing ranges from 50 to 100m, to 50 by 50m within the 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 structureDrill 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 securityThe 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 reviewsInternal 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

CriteriaCommentary
Mineral tenement and land tenure statusThe 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 and holds a 70% interest (Greatland Gold holds a 30% interest). Newcrest and Jamukurnu-Yapalikurnu Aboriginal Corporation (formerly WDLAC) are parties to an ILUA which relates to the use of native title land for Newcrest's current operations at Telfer and its activities within a 60km 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 part of the exploration tenement on which the Havieron Project is based) and was granted on 10 September 2020.
Exploration done by other partiesNewcrest 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.
GeologyThe 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 InformationAs provided.
Data aggregation methodsSignificant 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 lengthsSignificant 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.
DiagramsAs provided.
Balanced reportingThis is the twenty-fourth release of Exploration Results for this project made by Newcrest.. Exploration results have been reported by Newcrest since July 2019.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 dataNil
Further workGrowth drilling is targeting the extensions of the 30 June 2022 Indicated and Inferred Mineral Resource estimate and to define the limits of the Havieron mineralised system.

 

Drillhole data(1)

Havieron Project, Paterson Province, Western AustraliaReporting 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 and copper 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 IDHole TypeEasting (m)Northing (m)RL (m)Total Depth (m)AzimuthDipFrom (m)To (m)Interval (m)Au (ppm)Cu (pct)Cut off
HAD055W10MR-DD46371575973412631248.147-56No Significant Results
HAD055W11MR-DD46371575973412631635.947-56No Significant Results
HAD086W5MR-DD46462475981502581685225-651348.51383.334.80.340.060.2 g/t Au
HAD086W5MR-DD1401.1144139.94.60.100.2 g/t Au
HAD086W5MR-DDincl.14031423.620.68.70.131.0 g/t Au
HAD086W5MR-DD1491.81533.741.91.70.110.2 g/t Au
HAD086W5MR-DDincl.15121528.116.13.90.121.0 g/t Au
HAD086W6MR-DD46462475981502581524.4225-65133714471101.70.160.2 g/t Au
HAD086W6MR-DDincl.1356.1136912.93.50.491.0 g/t Au
HAD086W6MR-DDincl.1380.3140120.74.40.101.0 g/t Au
HAD086W6MR-DDincl.135713581.0330.0030 g.m. Au
HAD098W2MR-DD46359175973812641748.438-6111701197271.90.190.2 g/t Au
HAD098W2MR-DDincl.11781190123.70.261.0 g/t Au
HAD098W2MR-DD1335.7137539.32.10.120.2 g/t Au
HAD098W2MR-DDincl.1374.213750.8650.1330 g.m. Au
HAD098W2MR-DD1387.3140820.73.60.431.0 g/t Au
HAD098W2MR-DDincl.1392.41392.70.31540.0130 g.m. Au
HAD098W2MR-DD1604.6163227.40.750.040.2 g/t Au
HAD098W3MR-DD46359175973812641908.238-611379.6139515.4120.271.0 g/t Au
HAD098W3MR-DDincl.1381.21381.40.21751.230 g.m. Au
HAD098W3MR-DDincl.1391.613931.4470.3430 g.m. Au
HAD098W3MR-DD17591800410.300.010.2 g/t Au
HAD098W4MR-DD46359175973812641098.738-61No Significant Results
HAD098W5MR-DD46359175973812641849.138-611114.71220.9106.20.780.120.2 g/t Au
HAD098W5MR-DDincl.1196.41208.712.31.60.271.0 g/t Au
HAD098W5MR-DD1357.21438.581.33.20.290.2 g/t Au
HAD098W5MR-DDincl.1360.51413.853.33.50.31.0 g/t Au
HAD098W5MR-DDincl.14211438.517.53.90.261.0 g/t Au
HAD098W5MR-DD15481574.526.51.10.060.2 g/t Au
HAD098W6MR-DD4635917597381264120338-61Assays Pending
HAD098W7MR-DD46359175973812641836.838-61Assays Pending
HAD104W3MR-DD4635227597782257196587-631414.51463.348.80.70.180.2 g/t Au
HAD104W3MR-DD15661628623.00.120.2 g/t Au
HAD104W3MR-DDincl.15931619.726.76.40.161.0 g/t Au
HAD104W3MR-DD16401667.727.71.50.240.2 g/t Au
HAD145AW3MR-DD46320175978162561560.674-651285.91317.231.31.20.680.2 g/t Au
HAD145AW3MR-DD14331476430.330.050.2 g/t Au
HAD145AW5MR-DD46320175978162562162.274-6515091564550.280.120.2 g/t Au
HAD145AW5MR-DD162317911680.690.270.2 g/t Au
HAD145AW5MR-DDincl.16861697.311.32.40.531.0 g/t Au
HAD145AW5MR-DD1983.5200420.50.450.010.2 g/t Au
HAD145AW5MR-DD20382076381.90.170.2 g/t Au
HAD145AW5MR-DDincl.20532076232.50.161.0 g/t Au
HAD152W2MR-DD4634017597059254189833-6414531473207.60.140.2 g/t Au
HAD152W2MR-DDincl.14551471169.40.171.0 g/t Au
HAD152W2MR-DDincl.14691469.90.9660.7230 g.m. Au
HAD152W2MR-DD172418441202.10.170.2 g/t Au
HAD152W2MR-DDincl.173017322.0430.0130 g.m. Au
HAD152W2MR-DDincl.1781.7180220.33.10.681.0 g/t Au
HAD152W3MR-DD46340175970592542141.633-6416951777822.70.210.2 g/t Au
HAD152W3MR-DDincl.17181719.11.11161.430 g.m. Au
HAD152W3MR-DD17981862.564.52.81.10.2 g/t Au
HAD152W3MR-DDincl.1843.5185713.59.80.891.0 g/t Au
HAD152W3MR-DDincl.18481849.71.7510.7230 g.m. Au
HAD152W3MR-DD19842032480.880.030.2 g/t Au
HAD152W3MR-DD20542130.276.21.10.080.2 g/t Au
HAD152W4MR-DD46340175970592542169.533-64Assays Pending
HAD152W5MR-DD46340175970592542172.233-64Assays Pending
HAD153W1MR-DD46478675984182691690.5200-6115571611540.480.360.2 g/t Au
HAD153W1MR-DD16411673320.720.040.2 g/t Au
HAD153W2MR-DD46478675984182691756.1200-611663.5168521.53.00.220.2 g/t Au
HAD156MR-DD46367275969402552323.330-7520792109301.50.180.2 g/t Au
HAD157MR-DD4645587599017258933.8270-65No Significant Results
HAD158MR-DD46406275995162601174.690-65No Significant Results
HAD159MR-DD46408675972532611917.729-7613201360400.670.060.2 g/t Au
HAD159MR-DD13881416280.330.050.2 g/t Au
HAD159MR-DD14981536380.750.180.2 g/t Au
HAD159MR-DD16941754600.60.150.2 g/t Au
HAD159MR-DD17661808420.630.040.2 g/t Au
HAD160MR-DD46366075968982551083.490-63No Significant Results
HAD163MR-DD46449175981432581725198-80Assays Pending
HAD165MR-DD464067759916325796785-65Assays Pending
MEC001MR-DD4631507595777253497.945-73Assays Pending
MEC001W1MR-DD46315075957772531143.245-73Assays Pending
NOR002MR-DD46422976001432581177.585-75Assays Pending

 

# drilling in progress, **partial intercept, assays pending. ^updated intercept ^^previously reported intercept, +intercept within published resource

Figure 37. 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 37, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_039full.jpg

Figure 38. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S1, +/-50m section width, as shown in Figure 37). Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the period. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 38, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_040full.jpg

Figure 39. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S2, +/-50m section width, as shown in Figure 37). Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the period. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 39, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_041full.jpg

Figure 40. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S3, +/-50m section width, as shown in Figure 37). The blue intercepts represent results wholly or partially within the Mineral Resource. Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the period which. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 40, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_042full.jpg

Figure 41. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S4, +/-100m section width, as shown in Figure 37). Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the quarter. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 41, please visit:https://images.newsfilecorp.com/files/7614/142076_c8c59e7494a96824_043full.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", "target", "anticipate", "believe", "continue", "objectives", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding estimated reserves and resources, internal rates of return, expansion, exploration and development activities and the specifications, targets, results, analyses, interpretations, benefits, costs and timing of them; certain plans, strategies, aspirations and objectives of management, anticipated production, sustainability initiatives, climate scenarios, dates for projects, reports, studies or construction, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. The Company 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 the Company's actual results, performance, and achievements 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 resources or reserves, political and social risks, changes to the regulatory framework within which the Company 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 the Company's results and performance, please see the risk factors discussed in the Operating and Financial Review included in the Appendix 4E and Financial Report for the year ended 30 June 2022 and the Annual Information Form dated 6 December 2021 which are available to view at www.asx.com.au under the code "NCM" and on Newcrest's SEDAR profile.

Forward looking statements are based on management's current expectations and reflect Newcrest's good faith assumptions, judgements, estimates and other information available as at the date of this report and/or the date of Newcrest's planning or scenario analysis processes 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 global events such as geopolitical tensions and the ongoing COVID19 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 and reporting 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 - Standards of Disclosure for Mineral Projects (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, Red Chris and Wafi-Golpu. Copies of the NI 43-101 Reports for Cadia, Lihir and Wafi-Golpu, which were released on 14 October 2020, and Red Chris, which was released on 30 November 2021, are available at www.newcrest.com and on Newcrest's SEDAR profile.

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 2022 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 EnquiresTom Dixon+61 3 9522 5570+61 450 541 389[email protected]

Rebecca Lay+61 3 9522 5298+61 438 355 511[email protected]

North American Investor EnquiriesVlada Cvijetinovic+1 604 566 8781+1 604 240 2998[email protected]

Media EnquiriesTim Salathiel+61 3 9522 4263+61 407 885 272[email protected]

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/142076

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