A deep copper beast

DRILLING at the exciting Wafi-Golpu project in Papua New Guinea has resulted in a deep but whopping 942m intersection grading 1.18% copper and 0.94 grams per tonne gold.
A deep copper beast A deep copper beast A deep copper beast A deep copper beast A deep copper beast

Revealed by Newcrest Mining in its recent quarterly report, this intersection started at a depth of 1038m in the eastern margin of the Golpu deposit slated for block cave mining.

This large expanse also included a 340m intersection grading 1.91gpt gold and an exceptional 2.35% copper from a depth of 1246m.

Planning efforts are focusing on the prospects of a deeper third lift expansion. The existing Golpu project scope is already based on a mine life of more than 25 years at cash costs at the lower end of the typical industry cost curve.

Plans for open cut mining at the nearby Wafi prospect are yet to be revealed, with drilling focusing on the Wafi Transfer Zone and the Kerimenge prospect, 4km north of the Hidden Valley gold mine.

The Wafi-Golpu project and Hidden Valley mine are 50:50 owned by Newcrest and Harmony Gold through the Morobe Mining Joint Ventures.

The feasibility study for the Golpu plans starts next next year, with key contractors and capital costs being reviewed.

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