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Newcrest Mining Ltd NCMGF


Primary Symbol: A.NCM

Newcrest Mining Limited is an Australia-based mining company. The Company's principal activities are exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. The Company owns and operates a portfolio of brownfields and greenfields exploration projects. The Company’s assets include Brucejack, Cadia, Havieron, Lihir, Red Chris, Telfer and Wafi-Golpu. The Brucejack asset is located approximately 950 kilometers (km) from Vancouver, Canada. The Cadia asset is located approximately 25 km from Orange, New South Wales (NSW). The Havieron asset is located approximately 45 km east of Telfer. The Lihir asset is located on the Niolam Island, approximately 900 km from Port Moresby, Papua New Guinea (PNG). The Red Chris asset is located approximately 1,700 km from Vancouver, Canada. The Telfer asset is located approximately 400 km from Port Hedland, WA. The Wafi-Golpu asset is located approximately 65 km from the city of Lae, PNG.


ASX:NCM - Post by User

Bullboard Posts
Post by JIBOLon Nov 28, 2013 12:18am
491 Views
Post# 21948876

Remaining 1815 ton estimated gold/silver content

Remaining 1815 ton estimated gold/silver content
First of all, the length of drift mined to acheive 1815 tons is ~ 60 meters (@ 3.3 tons/meter3 or 30 tons / running meter of drift) This appears to be approximately where the cleopatra vein enters the drift in Pretivm's presentation drawing.
I have a hard time to visualize how something being called a vein can be any less than 1mm thick (of solid electrum) so I used this thickness in my calculation.
density of electrum = 15 gm / cm3
gm of electrum = 6000 x 300 x 0.1 x 15gm/cm3 = 2,700,000 gm
electrum = 66% gold 34% silver
Oz of gold = 2,700,000 x 0.66 / 31.1 = 57,300 oz
Oz of silver = 2,700,000 x 0.34 / 31.1 = 29,500 oz

add to this an average grade of ~ 1oz electrum / ton of the 1815 tons remaining sample

Oz of gold = 1815 x 0.66  = 1200 oz
Oz of silver = 1815 x 0.34 = 617 oz

Estimated total gold = 57,300 + 1200 = 58,500 oz +/- 250
Estimated total silver = 29,500 + 617 = 30,117 oz

Seems outrageous but numbers don't lie!
Bullboard Posts