PRECIOUS METALS

Newcrest buys Skeena ground near Red Chris

Newcrest Mining has bought exploration ground with identified resources near its Red Chris project in British Columbia for C$7.5 million from Canadian junior Skeena Resources.

Staff reporter
The GJ project is adjacent to Red Chris in British Columbia, Canada

The GJ project is adjacent to Red Chris in British Columbia, Canada

Called GJ, the ground lies about 30km west of Red Chris and contains resources understood to total about 240 million tonnes grading 0.31 grams per tonne gold and about 0.23% copper, with a higher grade gold zone of about 50Mt at around 0.7gpt gold and 0.11% copper. 
 
That compares with resources at the Newcrest's 70%-owned Red Chris operation that are estimated to total about 1.7 billion tonnes grading about 0.33gpt gold and 0.33% copper.
 
Newcrest's focus at Red Chris is optimising the already established operation, with the ultimate plan being to bring its block caving expertise to bear for a transformational development.
 
Newcrest's sees geological and operating analogies between Red Chris with its Cadia ground in New South Wales.

 

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