Over 5 million oz gold in Golpu reserve

Papua New Guinea’s Golpu ore reserve is estimated to contain 5.5 million ounces of gold and 2.5 million tons of copper.

This is reaffirmed in an ‘Updated Wafi-Golpu Feasibility Study’ dated 19th March 2018.

In a market release to the Port Moresby Stock Exchange (POMSOX), Newcrest Mining Limited says this estimate is materially in line with previous estimates.

Newcrest, who has 50 percent interest in the project, says this reflects updated long-term cost and metal price assumptions and optimised designs in the Golpu Feasibility Study Update.

The updated feasibility study also states that Mineral Resources for Golpu Project remain unchanged from the release titled “Wafi-Golpu – Update on Stage One Feasibility and Stage Two Prefeasibility Studies” dated 15 February 2016.

(Picture: The Australian)

Cedric Patjole