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Summa Silver Provides Annual Update Letter from CEO
VANCOUVER, BC, Jan. 5, 2021 /CNW/ - Summa Silver Corp. ("Summa Silver" or the "Company") (CSE: SSVR) (OTCQB: SSVRF) (Frankfurt: 48X) is pleased to provide the following letter to all shareholders from the CEO.
Dear Shareholders and Investors,
This past year marked a strong debut year for Summa Silver. After listing in February, the Company quickly optioned two high-quality silver and gold exploration properties in under-appreciated historic mining districts in the United States and raised $13M in two private placements.
Our highest priority is to create shareholder value through systematic exploration of our two highly prospective silver and gold projects.
Highlights from 2020
Aggressive drilling at the Hughes Property in Nevada was the central focus of our exploration strategy in 2020. Originally budgeted for 7,500 m of drilling in 15 holes, our first ever drill program was expanded and ultimately consisted of 14,460 m of drilling in 29 holes.
Key takeaways from the 2020 Hughes drill program include:
High-grade silver and gold mineralization was discovered in four target areas across a 3.5 km trend.
The area around the historic Belmont Mine hosts numerous well mineralized and unmined veins.
The Ruby discovery may represent a 1.3 km extension of the Tonopah district to the east
The Murray area hosts broad zones of mineralization that likely cross the property boundary to the west onto Blackrock Gold Corp's Tonopah West Property.
Assays for 14 holes remain pending, all of which intersected quartz veins and breccias.
In addition to the Hughes Property, the Company also optioned a large portion of the historic Mogollon mining district near Silver City, New Mexico. Undrilled since the 1980's, historical drill results outline a target area at the old Consolidated Mine. The target spans 500 x 200 m where 8 historic drill holes are reported to have averaged 497 g/t silver equivalent over average drilled lengths of 13.3 m. Taking a step back and looking at the bigger picture, this Consolidated Mine target represents approximately 0.6 km of the 34 km of cumulative structure/vein length on the property. Putting those numbers into context, the Consolidated Mine target represents less than 2% of the prospective target horizons on the property.
Outlook for 2021
It is very clear to us at Summa Silver that both the Hughes and Mogollon properties warrant significant drill programs in 2021 as we drive towards mineral resource estimates at both projects. With that in mind, we are planning a two-faceted approach to unlock value for shareholders in 2021.
At the Hughes property, follow up drilling at all four of the original target areas is required and we will systematically drill step out holes around areas of known mineralization. We are also planning a geological mapping and sampling program covering the large, but under-documented zones of hydrothermal alteration on the northern and eastern portions of the property.
At the Mogollon property, the Consolidated Mine target area clearly warrants a thorough mineral resource assessment via a pattern of grid drilling. Permits for this drill program are expected in Q1. We are also planning boots-on-the-ground geological mapping and sampling program to gain a better understanding of the geologic controls on silver and gold mineralization.
Looking back to the beginning of 2020, Summa Silver was just an idea. I'm very grateful to our supportive shareholders who are integral to our success. I'm also very pleased with how far we've come in one short year and look forward to using our geological expertise to create further shareholder value in 2021.
At Summa Silver, we strive to communicate our corporate message with transparency and consistency with the public market community and we urge you to reach out to allow us to get to know our shareholders better.
Follow Summa Silver on Twitter: @summasilver
LinkedIn: https://www.linkedin.com/company/summa-silver-corp/
ON BEHALF OF THE BOARD OF DIRECTORS
"Galen McNamara"
Galen McNamara, Chief Executive Officer
info@summasilver.com
www.summasilver.com
Investor Relations Contact:
Kin Communications
Arlen Hansen
604-684-6730
SSVR@kincommunications.com
Qualified Person
The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company, and a qualified person as defined by National Instrument 43-101.
About Summa Silver Corp
Summa Silver Corp is a Canadian junior mineral exploration company. The Company has options to earn 100% interests in the Hughes property located in central Nevada and the Mogollon property located in southwestern New Mexico. The Hughes property is host to the high-grade past-producing Belmont Mine, one of the most prolific silver producers in the United States between 1903 and 1929. The Mogollon property features a number of high-grade past-producing mines which operated between the 1880's and 1942.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Cautionary note regarding forward-looking statements
This news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. These forward–looking statements or information relate to, among other things: the exploration and development of the Company's mineral exploration projects.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the current COVID-19 pandemic; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; and other related risks and uncertainties.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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SOURCE Summa Silver Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2021/05/c8524.html
24.5
0.40
0.05
0.2 g/t Au
864.8
889
24.2
2.5
0.09
0.2 g/t Au
incl
874.4
875.3
1
50
0.72
30 g/t Au
934
977.5
43.5
0.84
0.15
0.2 g/t Au
HAD081^^
MR-DD
463407
7597521
263
1366.1
43
-57
1034
1073
39
0.25
0.05
0.2 g/t Au
1122.8
1170
47.2
0.82
0.21
0.2 g/t Au
HAD082^^
MR-DD
464090
7597791
257
1027.1
303
-66
570
622.6
52.6
0.24
0.07
0.2 g/t Au
641.4
694
52.7
0.24
0.02
0.2 g/t Au
740
807.7
67.7
0.28
0.06
0.2 g/t Au
903.7
951
47.3
1.4
0.03
0.2 g/t Au
HAD083
MR-DD
463543
7597518
262
1791.5
43
-62
734
778
44
0.33
0.07
0.2 g/t Au
953.1
1004
50.9
1.1
0.12
0.2 g/t Au
incl
989
1001.9
12.9
3.5
0.12
1.0 g/t Au
1016
1050
34
4.4
0.05
0.2 g/t Au
incl
1036.5
1048
11.5
13
0.10
1.0 g/t Au
incl
1036.5
1037
0.5
166
0.33
30 g/t Au
incl
1042
1043
1
38
0.19
30 g/t Au
1098
1281.7
183.7
1.8
0.18
0.2 g/t Au
incl
1132.2
1133.4
1.2
33
0.64
30 g/t Au
incl
1165.2
1182.4
17.2
8.8
0.47
1.0 g/t Au
incl
1169
1170
1
47
1.8
30 g/t Au
incl
1172.5
1173.5
1
47
0.49
30 g/t Au
incl
1238.8
1254
15.2
2.2
0.36
1.0 g/t Au
1405
1427
22
0.31
0.25
0.2 g/t Au
1439
1517
78
0.61
0.16
0.2 g/t Au
1529
1663
134
1.4
0.04
0.2 g/t Au
incl
1603
1618
15
1.6
0.02
1.0 g/t Au
incl
1630.1
1631
0.9
52
0.95
30 g/t Au
1677
1775.2
98.2
1.9
0.14
0.2 g/t Au
incl
1723.9
1765
41.1
3.7
0.10
1.0 g/t Au
incl
1725
1726
1
39
0.01
30 g/t Au
HAD084
MR-DD
463270
7597841
256
1995.4
83
-65
1300.3
1322.8
22.5
0.29
0.68
0.2 g/t Au
1344.1
1376.8
32.7
0.56
0.28
0.2 g/t Au
1536.8
1879
342.2
2.0
0.11
0.2 g/t Au
incl
1572
1586
14
19
0.20
1.0 g/t Au
incl
1577.5
1577.8
0.3
637
0.35
30 g/t Au
incl
1601.5
1620
18.5
2.7
0.23
1.0 g/t Au
incl
1629.9
1641
11.1
6.6
0.11
1.0 g/t Au
incl
1659
1686.8
27.8
1.4
0.40
1.0 g/t Au
incl
1726.3
1745.8
19.5
4.2
0.04
1.0 g/t Au
incl
1741
1742
1
49
0.01
30 g/t Au
incl
1751
1767.6
16.6
2.7
0.10
1.0 g/t Au
incl
1866
1876
10
2.1
0.05
1.0 g/t Au
HAD085*
MR-DD
463488
7598056
255
1636
112
-63
568.8
643
74.2
2.0
0.09
0.2 g/t Au
incl
594
613.1
19.1
7.0
0.23
1.0 g/t Au
659
737
78
0.30
0.04
0.2 g/t Au
768.7
789.2
20.5
0.28
0.06
0.2 g/t Au
835
1182.9
347.9
0.44
0.08
0.2 g/t Au
incl
1137
1149.1
12.1
1.2
0.13
1.0 g/t Au
1212
1272
60
2.0
0.02
0.2 g/t Au
incl
1234.8
1236
1.2
54
0.02
30 g/t Au
HAD087
MR-DD
464336
7598258
257
1669
222
-70
1234
1258
24
0.46
0.15
0.2 g/t Au
1454
1489
35
0.20
0.18
0.2 g/t Au
HAD088
MR-DD
463850
7598074
256
664
186
-58
477
526
49
0.45
0.07
0.2 g/t Au
HAD089
MR-DD
464299
7597746
258
1402.2
290
-61
565
601
36
0.75
0.04
0.2 g/t Au
incl
579
601
22
1.0
0.04
1.0 g/t Au
697
788
91
1.6
0.21
0.2 g/t Au
incl
735
736.1
1.1
69
0.32
30 g/t Au
872
905.1
33.1
0.31
0.07
0.2 g/t Au
917
1018.5
101.5
0.43
0.17
0.2 g/t Au
1136
1252
116
2.9
0.07
0.2 g/t Au
incl
1136
1149
13
13
0.17
1.0 g/t Au
incl
1147.2
1149
1.8
49
0.17
30 g/t Au
incl
1154.1
1169.6
15.5
4.9
0.18
1.0 g/t Au
incl
1222
1237
15
1.5
0.02
1.0 g/t Au
HAD097W1
MR-DD
464436
7598085
257
798.7
222
-63
621.7
654
32.3
5.4
0.49
0.2 g/t Au
incl
631
651
20
8.6
0.78
1.0 g/t Au
incl
635
636
1
34
0.35
30 g/t Au
incl
639
639.35
0.35
207
1.1
30 g/t Au
* partial results, assays pending ** partial intercept, assays pending; ^ updated intercept or ^^ previously reported.
Appendix 2
Red Chris (70% Newcrest): JORC Table 1
Section 1 Sampling Techniques and Data
Criteria | Commentary |
Sampling techniques | Core samples are obtained from core drilling. HQ and NQ diameter diamond core was drilled on a 3, 4.5m or 6m run. Core was cut using an automatic core-cutter and half core sampled at 2m intervals. Cover sequences were not sampled. |
Drilling techniques | Core drilling was advanced with HQ3, HQ, NQ3 and NQ diameter coring configuration. Core from inclined drill holes are oriented on 3, 4.5m or 6m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line. |
Drill sample recovery | Core recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller's depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled. Core recoveries were typically 100%, with isolated zones of lower recovery. |
Logging | Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled – 34,409m in 27 holes – all holes intersected mineralisation, with the exception of eight dedicated geotechnical holes), including orientation of key geological features. Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements.
Magnetic susceptibility measurements were recorded every metre.
All geological and geotechnical logging was conducted at the Red Chris Mine.
Digital data logging was captured, validated and stored in an acQuire database. All drill cores were photographed, prior to cutting and/or sampling the core. |
Sub-sampling techniques and sample preparation | Sampling, sample preparation and quality control protocols are considered appropriate for the material being sampled. Core was cut and sampled at the Red Chris Mine core processing facility. Half core samples were collected in plastic bags together with pre-numbered sample tags and grouped in plastic bags for dispatch to the laboratory. Sample weights typically varied from 5 to 10kg. Sample sizes are considered appropriate for the style of mineralisation. Drill core samples were freighted by road to the laboratory.
Sample preparation was conducted at the independent ISO 9001 certified and ISO 17025 accredited Bureau Veritas Commodities Canada Ltd Laboratory, Vancouver (Bureau Veritas). Samples were dried at 650C, and crushed to 95% passing 4.75 mm, and the split to obtain up to 3kg sub-sample, which was pulverised (using LM2) to produce a pulped product with the minimum standard of 95% passing 106μm. Duplicate samples were collected from crush and pulp samples at a rate of 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation. Periodic size checks (1:20) for crush and pulp samples and sample weights are provided by the laboratory and recorded in the acQuire database. |
Quality of assay data and laboratory tests | Assaying of drill core samples was conducted at Bureau Veritas. All samples were assayed for 48 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method MA250). Gold analyses were determined by 50g fire assay with ICP-ES finish (method FA350). Carbon and Sulphur were determined by Leco (method TC000) and mercury using aqua regia digestion followed by ICP-ES/MS determination (method AQ200). Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20). Assays of quality control samples were compared with reference samples in the acQuire database and verified as acceptable prior to use of data from analysed batches. Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats and grind size results are captured in acQuire database and assessed for accuracy and precision for recent data. Due to the limited extent of the drilling program to date, extended quality control programs are yet to be undertaken, whereby pulped samples will be submitted to an umpire laboratory and combined with more extensive re-submission programs. Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved and the database contains no analytical data that has been numerically manipulated. The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results. |
Verification of sampling and assaying | Sampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core cutting. Corresponding sample numbers matching pre-labelled sample tags are assigned to each interval.
All sampling and assay information were stored in a secure acQuire database with restricted access.
Electronically generated sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the acQuire database.
Assessment of reported significant assay intervals was verified by re-logging of drill core intervals and assessment of high resolution core photography. The verification of significant intersections has been completed by company personnel and the Competent Person/Qualified Person. No adjustments are made to assay data, and no twinned holes have been completed. Drilling intersects mineralisation at various angles.
There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data. |
Location of data points | Drill collar locations were surveyed using a RTK GPS with GNSS with a stated accuracy of +/- 0.025m.
Drill rig alignment was attained using an electronic azimuth aligner (Reflex TN14 GYROCOMPASS). Downhole survey was collected at 9 to 30m intervals of the drill hole using single shot survey (Reflex EZ-SHOT). At the end of hole, all holes have been surveyed using a continuous gyro survey to surface (Reflex EZ-GYRO). Topographic control is established from PhotoSat topographic data and derived digital elevation model. The topography is generally low relief to flat, with an average elevation of 1500 m, with several deep creek gullies.
All collar coordinates are provided in the North American Datum (NAD83 Zone 9). |
Data spacing and distribution | The drill hole spacing ranges from 100 – 200m in lateral extent within an area of 1.5km2 at the East Zone. No sample compositing is applied to samples. |
Orientation of data in relation to geological structure | Drilling of reported drill holes RC625, RC626, RC627, RC628, RC631, RC632, RC633, RC634, RC637 and RC638 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 Zone mineral system intersected moderately dipping volcanic and sedimentary units cut by sub-vertical intrusive lithologies. Steeply dipping mineralised zones with an east-northeast orientation have been interpreted from historic and Newcrest drill holes. |
Sample security | The security of samples is controlled by tracking samples from drill rig to database.
Drill core was delivered from the drill rig to the Red Chris Mine core yard every shift. Geological and geotechnical logging, high resolution core photography and cutting of drill core was undertaken at the Red Chris core processing facility. Samples were freighted in sealed bags with security tags by road to the laboratory, and in the custody of Newcrest representatives. Sample numbers are generated from pre-labelled sample tags. All samples are collected in pre-numbered plastic bags. Sample tags are inserted into prenumbered plastic bags together with the sample.
Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advise issued to Newcrest. Details of all sample movement are recorded in a database table. Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to analytical services. Any discrepancies logged at the receipt of samples into the analytical services are validated. |
Audits or reviews | Due to the limited duration of the program, no external audits or reviews have been undertaken. Internal verification and audit of Newcrest exploration procedures and databases are periodically undertaken. |
Section 2 Reporting of Exploration Results
Criteria | Commentary |
Mineral tenement and land tenure status | Red Chris comprises 77 mineral tenures including five mining leases and is a joint venture between subsidiaries of Newcrest Mining Limited (70%) and Imperial Metals Corporation (30%). Newcrest Red Chris Mining Limited is the operator of Red Chris. Newcrest Red Chris Mining Limited and the Tahltan Nation (as represented by the Tahltan Central Government, the Tahltan Band and Iskut First Nation) have signed an updated Impact, Benefit and Co-Management Agreement (IBCA) covering Red Chris.
All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing. |
Exploration done by other parties | Conwest Exploration Limited, Great Plains Development Co. of Canada, Silver Standard Mines Ltd, Texasgulf Canada Ltd. (formerly Ecstall Mining Limited), American Bullion Minerals Ltd and bcMetals Corporation conducted exploration in the areas between 1956 and 2006.
Imperial Metals acquired the project in 2007 and completed deeper drilling at the East and Main Zones between 2007 and 2012. |
Geology | The Red Chris Project is located in the Stikine terrane of north-western British Columbia, 80 km south of the town of Dease Lake. Late Triassic sedimentary and volcanic rocks of the Stuhini Group host a series of Late Triassic to Early Jurassic 204−198 Ma) diorite to quartz monzonite stocks and dykes.
Gold and copper mineralisation at Red Chris consists of vein, disseminated and breccia sulphide typical of porphyry-style mineralisation. Mineralisation is hosted by diorite to quartz monzonite stocks and dykes. The main mineral assemblage contains well developed pyrite-chalcopyrite-bornite sulphide mineral assemblages as vein and breccia infill, and disseminations. The main mineralisation event is associated with biotite and potassium feldspar-magnetite wall rock alteration. |
Drill hole information | As provided. |
Data aggregation methods | Significant assay intercepts are reported as (A) length-weighted averages exceeding 0.1g/t Au greater than or equal to 20m, with less than 10m of consecutive internal dilution; and (B) length-weighted averages exceeding 0.5g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution; and (C) length-weighted averages exceeding 1g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution; (D) length-weighted averages exceeding 5g/t Au greater than or equal to 10m, with less than 10m of consecutive internal dilution; and (E) length-weighted averages exceeding 10g/t Au for greater than or equal to 10m, with less than 10m of consecutive internal dilution. No top cuts are applied to intercept calculations. |
Relationship between mineralisation widths and intercept lengths | Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals. |
Diagrams | As provided. |
Balanced reporting | This is the seventh release of Exploration Results for this project made by Newcrest. The last release was on 10 September 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 data | Nil. |
Further work | Further drilling is planned to define the extents of the East Zone, Main Zone and Gully Zone. |
Drillhole data
Red Chris Project, British Columbia, Canada
Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.1ppm (0.1g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Also highlighted are high grade intervals of Au >0.5ppm (0.5g/t Au), Au >1ppm (1g/t Au), Au > 5ppm (5g/t Au), Au >10ppm (10g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 10m. Gold grades are reported to two significant figures. Samples are from core drilling which is HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes.
Hole ID | Hole Type | Easting (m) | Northing (m) | RL (m) | Total Depth (m) | Azimuth | Dip | From (m) | To (m) | Interval (m) | Au (ppm) | Cu (pct) | Cut off | |
RC625 | DD | 452126 | 6396252 | 1520 | 1499.5 | 144 | -62 | 360 | 380 | 20^^ | 0.19 | 0.03 | 0.1 ppm Au | |
420 | 502 | 82^^ | 0.15 | 0.03 | 0.1 ppm Au | |||||||||
640 | 1066 | 426^^ | 0.62 | 0.48 | 0.1 ppm Au | |||||||||
incl. | 734 | 810 | 76^^ | 1.9 | 1.2 | 0.5 ppm Au | ||||||||
incl. | 736 | 796 | 60^^ | 2.2 | 1.3 | 1 ppm Au | ||||||||
incl. | 828 | 872 | 44^^ | 0.64 | 0.64 | 0.5 ppm Au | ||||||||
1282 | 1322 | 40^^ | 0.17 | 0.15 | 0.1 ppm Au | |||||||||
1360 | 1416 | 56^^ | 0.11 | 0.16 | 0.1 ppm Au | |||||||||
RC626 | DD | 452502 | 6396343 | 1499 | 1391 | 148 | -57 | 338 | 366 | 28^^ | 0.22 | 0.03 | 0.1 ppm Au | |
424 | 452 | 28^^ | 0.11 | 0.03 | 0.1 ppm Au | |||||||||
474 | 540 | 66^^ | 0.12 | 0.09 | 0.1 ppm Au | |||||||||
560 | 1056 | 496^^ | 0.55 | 0.45 | 0.1 ppm Au | |||||||||
incl. | 742 | 838 | 96^^ | 0.95 | 0.75 | 0.5 ppm Au | ||||||||
incl. | 746 | 784 | 38^^ | 1.1 | 0.90 | 1 ppm Au | ||||||||
incl. | 828 | 838 | 10^^ | 2.1 | 0.97 | 1 ppm Au | ||||||||
incl. | 918 | 1006 | 88^^ | 1.2 | 0.92 | 0.5 ppm Au | ||||||||
incl. | 920 | 970 | 50^^ | 1.6 | 1.2 | 1 ppm Au | ||||||||
incl. | 1028 | 1048 | 20^^ | 0.65 | 0.60 | 0.5 ppm Au | ||||||||
1068 | 1234 | 166^^ | 0.40 | 0.34 | 0.1 ppm Au | |||||||||
incl. | 1082 | 1144 | 62^^ | 0.82 | 0.56 | 0.5 ppm Au | ||||||||
incl. | 1082 | 1106 | 24^^ | 1.0 | 0.78 | 1 ppm Au | ||||||||
1282 | 1302 | 20^^ | 0.16 | 0.27 | 0.1 ppm Au | |||||||||
1346 | 1391 | 45^^ | 0.12 | 0.03 | 0.1 ppm Au | |||||||||
RC627 | DD | 452643 | 6396523 | 1471 | 1299.9 | 151 | -52 | 464 | 488 | 24^^ | 0.11 | 0.01 | 0.1 ppm Au | |
600 | 1172 | 572^^ | 0.56 | 0.48 | 0.1 ppm Au | |||||||||
incl. | 698 | 708 | 10^^ | 0.65 | 0.47 | 0.5 ppm Au | ||||||||
incl. | 752 | 898 | 146^^ | 0.86 | 0.57 | 0.5 ppm Au | ||||||||
incl. | 778 | 822 | 44^^ | 1.2 | 0.71 | 1 ppm Au | ||||||||
incl. | 910 | 1034 | 124^^ | 0.64 | 0.68 | 0.5 ppm Au | ||||||||
incl. | 1048 | 1156 | 108^^ | 0.64 | 0.53 | 0.5 ppm Au | ||||||||
incl. | 1074 | 1086 | 12^^ | 1.1 | 0.92 | 1 ppm Au | ||||||||
1262 | 1290 | 28^^ | 0.15 | 0.26 | 0.1 ppm Au | |||||||||
RC628 | DD | 452756 | 6396333 | 1492 | 1209.3 | 151 | -60 | 305 | 339 | 34^^ | 0.11 | 0.02 | 0.1 ppm Au | |
497 | 1071 | 574^^ | 0.43 | 0.42 | 0.1 ppm Au | |||||||||
incl. | 589 | 615 | 26^^ | 0.66 | 0.51 | 0.5 ppm Au | ||||||||
incl. | 631 | 763 | 132^^ | 0.79 | 0.64 | 0.5 ppm Au | ||||||||
incl. | 663 | 697 | 34^^ | 1.0 | 0.70 | 1 ppm Au | ||||||||
incl. | 787 | 827 | 40^^ | 0.53 | 0.65 | 0.5 ppm Au | ||||||||
incl. | 905 | 949 | 44^^ | 0.77 | 0.57 | 0.5 ppm Au | ||||||||
incl. | 923 | 943 | 20^^ | 1.0 | 0.66 | 1 ppm Au | ||||||||
1145 | 1179 | 34^^ | 0.23 | 0.36 | 0.1 ppm Au | |||||||||
RC629 | DD | 452261 | 6396538 | 1467 | 1485.5 | 144 | -60 | Geotechnical Hole - Not Sampled | ||||||
RC630 | DD | 452580 | 6396361 | 1492 | 1428.8 | 325 | -69 | Geotechnical Hole - Not Sampled | ||||||
RC631 | DD | 452126 | 6396252 | 1520 | 1493.5 | 158 | -62 | 326 | 406 | 80^^ | 0.10 | 0.03 | 0.1 ppm Au | |
534 | 554 | 20^^ | 0.15 | 0.03 | 0.1 ppm Au | |||||||||
612 | 1098 | 486^^ | 0.39 | 0.33 | 0.1 ppm Au | |||||||||
incl. | 712 | 740 | 28^^ | 0.56 | 0.40 | 0.5 ppm Au | ||||||||
incl. | 758 | 862 | 104^^ | 0.55 | 0.43 | 0.5 ppm Au | ||||||||
incl. | 886 | 968 | 82^^ | 0.58 | 0.54 | 0.5 ppm Au | ||||||||
incl. | 980 | 990 | 10^^ | 0.58 | 0.56 | 0.5 ppm Au | ||||||||
1136 | 1170 | 34^^ | 0.11 | 0.11 | 0.1 ppm Au | |||||||||
1222 | 1286 | 64^^ | 0.37 | 0.08 | 0.1 ppm Au | |||||||||
1318 | 1338 | 20^^ | 0.36 | 0.03 | 0.1 ppm Au | |||||||||
1364 | 1392 | 28^^ | 0.10 | 0.05 | 0.1 ppm Au | |||||||||
1426 | 1454 | 28^^ | 0.10 | 0.07 | 0.1 ppm Au | |||||||||
RC632 | DD | 452643 | 6396524 | 1471 | 1409.5 | 149 | -57 | 406 | 472 | 66^^ | 0.16 | 0.03 | 0.1 ppm Au | |
698 | 1260 | 562^^ | 0.48 | 0.42 | 0.1 ppm Au | |||||||||
incl. | 798 | 808 | 10^^ | 0.51 | 0.40 | 0.5 ppm Au | ||||||||
incl. | 856 | 1012 | 156^^ | 0.71 | 0.49 | 0.5 ppm Au | ||||||||
incl. | 984 | 1010 | 26^^ | 1.1 | 0.81 | 1 ppm Au | ||||||||
incl. | 1024 | 1038 | 14^^ | 0.76 | 0.94 | 0.5 ppm Au | ||||||||
incl. | 1056 | 1114 | 58^^ | 0.57 | 0.60 | 0.5 ppm Au | ||||||||
incl. | 1164 | 1210 | 46^^ | 0.69 | 0.66 | 0.5 ppm Au | ||||||||
1272 | 1302 | 30^^ | 0.14 | 0.10 | 0.1 ppm Au | |||||||||
1328 | 1348 | 20^^ | 0.10 | 0.03 | 0.1 ppm Au | |||||||||
RC633 | DD | 452504 | 6396348 | 1496 | 1427.0 | 147 | -62 | 382 | 480 | 98^^ | 0.25 | 0.04 | 0.1 ppm Au | |
incl. | 432 | 446 | 14^^ | 0.53 | 0.04 | 0.5 ppm Au | ||||||||
582 | 1156 | 574^^ | 0.53 | 0.44 | 0.1 ppm Au | |||||||||
incl. | 792 | 914 | 122^^ | 0.83 | 0.69 | 0.5 ppm Au | ||||||||
incl. | 822 | 870 | 48^^ | 1.3 | 0.97 | 1 ppm Au | ||||||||
incl. | 1016 | 1084 | 68^^ | 1.7 | 1.3 | 0.5 ppm Au | ||||||||
incl. | 1018 | 1084 | 66^^ | 1.8 | 1.3 | 1 ppm Au | ||||||||
incl. | 1114 | 1138 | 24^^ | 0.56 | 0.42 | 0.5 ppm Au | ||||||||
1212 | 1288 | 76^^ | 0.18 | 0.34 | 0.1 ppm Au | |||||||||
RC634 | DD | 452443 | 6396281 | 1504 | 1289.6 | 150 | -60 | 288 | 348 | 60^^ | 0.30 | 0.02 | 0.1 ppm Au | |
incl. | 322 | 334 | 12^^ | 0.96 | 0.03 | 0.5 ppm Au | ||||||||
404 | 452 | 48^^ | 0.10 | 0.01 | 0.1 ppm Au | |||||||||
522 | 628 | 106^^ | 0.33 | 0.41 | 0.1 ppm Au | |||||||||
incl. | 570 | 620 | 50^^ | 0.50 | 0.63 | 0.5 ppm Au | ||||||||
650 | 1164 | 514^ | 1.3 | 0.77 | 0.1 ppm Au | |||||||||
incl. | 696 | 716 | 20^^ | 0.50 | 0.55 | 0.5 ppm Au | ||||||||
incl. | 802 | 1004 | 202^^ | 2.7 | 1.3 | 0.5 ppm Au | ||||||||
incl. | 806 | 972 | 166^^ | 3.0 | 1.5 | 1 ppm Au | ||||||||
incl. | 888 | 914 | 26^^ | 8.8 | 3.4 | 5 ppm Au | ||||||||
incl. | 890 | 902 | 12^^ | 12 | 4.4 | 10 ppm Au | ||||||||
incl. | 988 | 1000 | 12^^ | 1.5 | 0.93 | 1 ppm Au | ||||||||
incl. | 1016 | 1160 | 144^ | 0.64 | 0.48 | 0.5 ppm Au | ||||||||
incl. | 1022 | 1032 | 10^^ | 1.0 | 0.71 | 1 ppm Au | ||||||||
1182 | 1218 | 36 | 0.15 | 0.15 | 0.1 ppm Au | |||||||||
RC635 | DD | 452998 | 6396780 | 1444 | 1184.2 | 241 | -56 | Geotechnical Hole - Not Sampled | ||||||
RC636 | DD | 452733 | 6396525 | 1463 | 900.0 | 345 | -80 | Geotechnical Hole - Not Sampled | ||||||
RC637 | DD | 452127 | 6396252 | 1519 | 1396.5 | 143 | -59 | 318 | 450 | 132 | 0.14 | 0.02 | 0.1 ppm Au | |
618 | 1064 | 446 | 0.51 | 0.45 | 0.1 ppm Au | |||||||||
incl. | 692 | 826 | 134 | 1.0 | 0.80 | 0.5 ppm Au | ||||||||
incl. | 694 | 754 | 60 | 1.5 | 1.1 | 1 ppm Au | ||||||||
incl. | 840 | 876 | 36 | 0.57 | 0.62 | 0.5 ppm Au | ||||||||
1084 | 1130 | 46 | 0.11 | 0.15 | 0.1 ppm Au | |||||||||
1218 | 1356 | 138 | 0.24 | 0.26 | 0.1 ppm Au | |||||||||
RC638 | DD | 452504 | 6396347 | 1495 | 1259.2 | 147 | -50 | 300 | 336 | 36 | 0.11 | 0.02 | 0.1 ppm Au | |
390 | 420 | 30 | 0.24 | 0.03 | 0.1 ppm Au | |||||||||
432 | 454 | 22 | 0.12 | 0.05 | 0.1 ppm Au | |||||||||
536 | 1024 | 488 | 0.61 | 0.50 | 0.1 ppm Au | |||||||||
incl. | 646 | 750 | 104 | 1.0 | 0.76 | 0.5 ppm Au | ||||||||
incl. | 668 | 722 | 54 | 1.3 | 0.96 | 1 ppm Au | ||||||||
incl. | 778 | 878 | 100 | 1.3 | 1.0 | 0.5 ppm Au | ||||||||
incl. | 778 | 864 | 86 | 1.5 | 1.1 | 1 ppm Au | ||||||||
incl. | 890 | 900 | 10 | 0.69 | 0.71 | 0.5 ppm Au | ||||||||
incl. | 924 | 954 | 30 | 0.56 | 0.53 | 0.5 ppm Au | ||||||||
1082 | 1136 | 54 | 0.28 | 0.45 | 0.1 ppm Au | |||||||||
1178 | 1198 | 20 | 0.15 | 0.01 | 0.1 ppm Au | |||||||||
1212 | 1250 | 38 | 0.13 | 0.01 | 0.1 ppm Au | |||||||||
RC639 | DD | 452358 | 6395283 | 1510 | 1520.0 | 328 | -58 | Assays pending | ||||||
RC640 | DD | 453019 | 6396267 | 1481 | 1308.5 | 149 | -65 | Assays pending | ||||||
RC641 | DD | 450713 | 6394758 | 1549 | 1339.8 | 333 | -73 | Assays pending | ||||||
RC642 | DD | 450871 | 6394815 | 1533 | 1505.2 | 328 | -65 | Assays pending | ||||||
RC643 | DD | 453001 | 6396780 | 1444 | 1101.3 | 222 | -79 | Geotechnical Hole - Not Sampled | ||||||
RC644 | DD | 453180 | 6395986 | 1464 | 1190.2 | 302 | -62 | Geotechnical Hole - Not Sampled | ||||||
RC644W1 | DD | 453180 | 6395986 | 1464 | 1214.4 | 302 | -62 | Geotechnical Hole - Not Sampled | ||||||
RC644W2 | DD | 453180 | 6395986 | 1464 | 1305.9 | 302 | -62 | Geotechnical Hole - Not Sampled | ||||||
RC645 | DD | 452127 | 6396252 | 1520 | 1205.5 | 143 | -67 | Assays pending | ||||||
RC646 | DD | 452955 | 6396340 | 1477 | 1491.5 | 144 | -63 | Assays pending | ||||||
RC647 | DD | 451986 | 6395998 | 1558 | 1501.8 | 148 | -58 | Assays pending | ||||||
RC648 | DD | 450889 | 6395421 | 1498 | 1507.9 | 154 | -59 | Assays pending | ||||||
RC649 | DD | 452253 | 6395184 | 1519 | 1999.9 | 328 | -58 | Assays pending | ||||||
RC650 | DD | 450871 | 6394815 | 1533 | 910.8 | 330 | -52 | Assays pending | ||||||
RC651 | DD | 452393 | 6395755 | 1436 | 1101.6 | 58 | -62 | Geotechnical Hole - Not Sampled | ||||||
RC658 | DD | 452279 | 6396325 | 1492 | 1263.7 | 154 | -56 | Assays pending | ||||||
RC659 | DD | 451553 | 6394699 | 1581 | 1552.6* | 328 | -48 | Assays pending | ||||||
RC660 | DD | 451764 | 6396001 | 1542 | 750.0 | 147 | -57 | Assays pending | ||||||
RC660W | DD | 451764 | 6396001 | 1542 | 923.3* | 151 | -57 | Assays pending | ||||||
RC661 | DD | 452887 | 6396431 | 1474 | 1227.4 | 144 | -61 | Assays pending | ||||||
RC662 | DD | 450694 | 6394994 | 1507 | 824.2* | 150 | -64 | Assays pending | ||||||
RC663 | DD | 452221 | 6395958 | 1548 | 590.2* | 67 | -59 | Geotechnical Hole - Not Sampled | ||||||
RC664 | DD | 452279 | 6396325 | 1492 | 522.5* | 155 | -67 | Assays pending | ||||||
RC665 | DD | 451983 | 6395232 | 1536 | 380* | 325 | -59 | Assays pending | ||||||
RC666 | DD | 451667 | 6395163 | 1541 | 270.9* | 326 | -55 | Assays pending | ||||||
RC667 | DD | 452993 | 6396047 | 1484 | 1* | 247 | -57 | Geotechnical Hole - Not Sampled | ||||||
*drilling in progress. **partial intercept, assays pending. ^updated intercept ^^previously reported
![Figure 16. Schematic plan view map showing Newcrest and Imperial drill hole locations and significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this release, and in prior Newcrest exploration releases). 1g/t Au and 2g/t Au shell projections generated from a Leapfrog Model shown in 3D. 1g/t AuEq and 2g/t AuEq shell projections generated from a Leapfrog model and sliced at 800mRL. Gold Equivalent (AuEq) grade calculated using a copper conversion factor of 1.79 ([gold grade (g/t)] + [copper grade (%) x 1.79]), using US$1,300/oz Au, US$3.40/lb Cu and 100% recovery. (CNW Group/Newcrest Mining Limited)](https://s.yimg.com/ny/api/res/1.2/nvtBMBnPwOQ2QcDgo00aaQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MA--/https://media.zenfs.com/en/cnw.ca/371b84ed56bf1bc742746160fccbb088)
Forward Looking Statements
This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "targets", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding estimated reserves and resources, certain plans, strategies, aspirations and objectives of management, anticipated production, study or construction dates, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. Newcrest continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.
These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Newcrest's actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Newcrest operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on Newcrest's results and performance, please see the risk factors included in the Annual Information Form dated 13 October 2020 lodged with ASX and SEDAR.
Forward looking statements are based on Newcrest's good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Newcrest's business and operations in the future. Newcrest does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Newcrest. Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic. Forward looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Newcrest does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in assumptions on which any such statement is based.
Ore Reserves and Mineral Resources Reporting Requirements
As an Australian Company with securities listed on the Australian Securities Exchange (ASX), Newcrest is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001 and the ASX. Investors should note that it is a requirement of the ASX listing rules that the reporting of ore reserves and mineral resources in Australia comply with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and that Newcrest's ore reserve and mineral resource estimates comply with the JORC Code.
Newcrest is also subject to certain Canadian disclosure requirements and standards, as a result of its secondary listing on the Toronto Stock Exchange (TSX), including the requirements of National Instrument 43-101 (NI 43-101). Investors should note that it is a requirement of Canadian securities law that the reporting of Mineral Reserves and Mineral Resources in Canada and the disclosure of scientific and technical information concerning a mineral project on a property material to Newcrest comply with NI 43-101. Newcrest's material properties are currently Cadia, Lihir and Wafi-Golpu.
Competent Person's Statement
The information in this document that relates to Exploration Targets, Exploration Results, and related scientific and technical information, is based on and fairly represents information compiled by Mr F. MacCorquodale. Mr MacCorquodale is the General Manager – Greenfields Exploration and a full-time employee of Newcrest Mining Limited. He is a shareholder in Newcrest Mining Limited and is entitled to participate in Newcrest's executive equity long term incentive plan, details of which are included in Newcrest's 2020 Remuneration Report. He is a Member of the Australian Institute of Geoscientists. Mr MacCorquodale has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code and as a Qualified Person under NI 43-101. Mr MacCorquodale approves the disclosure of scientific and technical information contained in this document and consents to the inclusion of material of the matters based on his information in the form and context in which it appears.
Authorised by the Newcrest Disclosure Committee
This information is available on our website at www.newcrest.com
SOURCE Newcrest Mining Limited
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