NEWGEN21-Proceedings-Full

NEWGEN GOLD 2021

Havieron Gold-Copper Deposit: Next



Generation of Undercover Discoveries




1
Benjamin Ackerman , David Finn , Callum Baxter 2
1
1
1
Anthony Harris , Cameron Switzer , Fraser MacCorquodale 1


1
Alan Wilson , Nick Lisowiec , Jamie Williams 1
3

1 Newcrest Mining Limited, Level 8, 600 St Kilda Road, Melbourne, VIC 3004, AUSTRALIA
2 Greatland Gold plc, Unit 8 175 Campbell Street, Belmont, WA, 6104, AUSTRALIA
3 GeoAqua Consultants Limited, PO Box 316, The Valley, Anguilla, BRITISH WEST INDIES

Disclaimer


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.
Reliance on Third Party Information
The views expressed in this document contain information that has been derived from sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of
the information. This presentation should not be relied upon as a recommendation or forecast by Newcrest.
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 is in accordance 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, Red Chris and Wafi-Golpu. Copies of the NI 43-101 Reports for Cadia, Lihir and Wafi Golpu,
which were released on 14 October 2020, are available at www.newcrest.com.au and on Newcrest’s SEDAR profile. The Red Chris NI 43-101 report will be submitted within 45 days of the release titled “Red Chris Block Cave
Pre-Feasibility Study confirms Tier 1 potential” dated 12 October 2021.
Competent Person’s Statement
The information in this document that relates to Havieron Mineral Resources has been extracted from the release titled “Initial Inferred Mineral Resource estimate for Havieron of 3.4Moz of gold and 160kt of copper” dated 10
December 2020 which is available to view at www.asx.com.au under the code "NCM" (the original Havieron mineral resource release). Newcrest confirms that it is not aware of any new information or data that materially affects
the information included in the original Havieron mineral resource release and that all material assumptions and technical parameters underpinning the estimates in the original Havieron mineral resource release continue to apply
and have not materially changed. Newcrest confirms that the form and context in which the competent person’s findings are presented have not been materially modified from the original Havieron mineral resource release.

Havieron: Paterson Province, Western Australia





NEW GOLD FROM UNDER COVER DISCOVERY

Telfer
Australia


Havieron JV (Greatland Gold): New under cover higher grade
1 discovery – 45km east of Telfer Winu



Inferred Mineral Resource estimate for Havieron announced in
2 December 2020: 3.4 Moz Au and 160 kt Cu (52Mt @ 2.0g/t Au and

0.31% Cu) 1


Potential to grow Havieron Resource – South East Crescent,
3 Northern Breccia, Eastern Breccia and geophysical targets


TELFER HAVIERON



Province Gold Endowment

+32 Million Ounces Gold 2







Discovery of Havieron, like many deep and concealed deposits, highlights the importance of Gravity
constant reinterpretation of targets and persistence in exploration supported by deep drilling.
Mineral Deposits Havieron JV Newcrest


1. The Initial Inferred Mineral Resource estimate is presented on a 100% basis. As announced on 30 November 2020, Newcrest has now met the Stage 3 farm-in requirement and has earnt an additional 20% joint venture interest,
resulting in a joint venture interest of 60%. Following the delivery of the PFS on 12 October 2021, Newcrest is entitled to earn an additional 10% joint venture interest, resulting in an overall joint venture interest of 70% (Greatland
Gold 30%). Refer to Newcrest release titled ‘Newcrest Initial Inferred Mineral Resource estimate for Havieron of 3.4Moz of gold and 160Kt of copper’ dated 10 December 2020.
2. Province endowment from mineral deposit data compiled from MinEx Consulting (www.minexconsulting.com).

Havieron – Australia’s next generation of deep


undercover discoveries






Outcropping gold-bearing gossans discovered 1970s Top of mineralisation below ~420 m of post-mineral cover


Telfer Havieron

Paterson Province – Setting










❑ The Paterson Province is a composite

orogenic belt defined by geological and
magnetic data that extends 2,000 km in
Paterson
Province a northwest-southeast direction from the
Canning northern West Australian coast through
Basin
to central Australia


❑ Province is flanked to the west and

southwest by the Archean Pilbara craton
and unconformably overlain to the
northeast by sedimentary rocks of the

Phanerozoic Canning Basin



❑ Province Gold Endowment +32 Million
Ounces Gold
Gold Camp


Key to marked features: AF – Albany–Fraser Orogen AFB – Adelaide Fold Belt Am – Amadeus Basin Ar – Arunta
Province Bo – Bowen Basin Ca – Canning Basin Cp – Capricorn Orogen Cu – Curnamona Craton De – Delamarian
Orogen Er – Eromanga Basin Eu – Eucla Basin Ga – Gawler Craton Ge – Georgetown Inlier Ha – Hamersley Basin HC
– Halls Creek Belt Ki – Kimberley Block La – Lachlan Orogen Mc – MacArthur Basin MI – Mt Isa Province Mu –
Musgrave Province NE – New England Orogen Of – Officer Basin Pc – Pine Creek Inlier Pi – Pilbara Craton Pj – Pinjarra
Orogen T – Tennant Creek Inlier Tp – Thomson Orogen Yi – Yilgarn Craton
Simplified geological provinces of Australia (from Kennett et al., 2018)

Paterson Province – Architecture





Paleo- to Neoproterozoic Paterson Province CANNING BASIN

Unconformity


Reduced O’Callaghans
Paterson Orogeny Telfer Au (Cu) Granite
45 km <650-550 Ma 645 and 605 Ma

Miles Orogeny Oxidized Mount Crofton
and Wilki Granites
>650 Ma
Unconformity
~800 Ma
Wilki Fm.
Group
830 Ma Puntapunta Fm.
Lamil
Malu Fm.
Basin

Isdell Fm.
Yeneena
Broadhurst Fm. Range Group

Coolbro Sandstone
Throsell
850 Ma Taliwanya
Fm
Unconformity

CONNAUGHTON/ TABLETOP
TALBOT TERRANE TERRANE


Simplified geology of Paterson Province (from Kennett et al., 2018) PILBARA
CRATON

Exploration History

Newmont Australia
Observed
Fitted Modelling
Base Level 1989

1980’s Newmont Australia – Regional Exploration




Telfer ‘Mafic’ plug
modelled to ~360 m
below the surface





















Havyeron






470000

Intensive exploration and resource drilling at Telfer by Newmont
Australia Limited between 1972 and 1975 In July 1986, a regional airborne magnetic survey (1 km flight line
spacing) first defined the prominent Hav-yer-on ‘bullseye’ anomaly 1


1 Rankins, D. 1989. Full Surrender Report to the Department of Mines, Canning Group, period ended December 1990. Newmont Australia Limited Internal Report No. CANN30/644/89.

Exploration History




Newcrest acquired tenement coverage to the northeast of Telfer

1990’s Early Newcrest Exploration covering the Havieron bullseye anomaly in October 1990.




53020 Observed Newcrest
Modelled Ground Magnetics
Magnetic Anomaly (nT) 52960 1991
53000
Modelling
52980



52940

52920
400 800 1200 1600 2000 2400
0
~400m depth to
magnetic source
Depth -400




HAC9101: 30.6 m at 1.0 g/t Au and
0.28 % Cu from 438.8 m including 1.0 -800
m at 14.7 g/t Au from 441 m and 1.5 m
at 5.3 g/t Au from 452.0 m
Chalcopyrite-pyrite-pyrrhotite mineralisation was found immediately below
420m of cover – replacements, vein and breccia infill.

Up to 14.7 g/t Au was found associated with pyrrhotite-quartz-
carbonate and associated actinolite-biotite – observed metal
association +1 g/t Au, +0.1 % Cu and +100’s ppm Bi 1


1 Russell, P.J. 1997. Summary of Exploration 1990 - 1996 Havieron Prospect ML 45/605 (Anketell Project) Telfer District. Newcrest Mining Ltd. Internal Report No. ANK30/1195/97.

Exploration History




Newcrest completed a follow up gravity survey (survey area of

1990's Early Newcrest Exploration 2.0 km x 2.9 km) in 1992 that identified a 0.2 mGal anomaly
coincident with the previously defined magnetic anomaly.




0.7
Observed Newcrest
0.6 Fitted Gravity Modelling
0.5 Base Level 1992
0.4
0.3
0.2
0.1
0

8400 9200 10000 10800 11600
~420m depth to
-400 gravity source
volume down to
+1000m
-800
-1200

HAC9101 0.4
0.2
0.2
HAC9201: 28 m at 1.0 g/t Au & 0.22 0.1 Drillhole HAC9201 targeted the gravity anomaly and intercepted pyrite-
0.0
% Cu from 420 m including 2.6 m at -0.0
9.4 g/t Au from 427.5 m -0.1 chalcopyrite associated with gold and copper, including higher gold
-0.2
-0.3
-0.6 grades (1.1 m at 15.5 g/t Au from 429 m).
mGals
The observed geology led to Havieron being considered a skarn-related
system. 1


1 Russell, P.J. 1997. Summary of Exploration 1990 - 1996 Havieron Prospect ML 45/605 (Anketell Project) Telfer District. Newcrest Mining Ltd. Internal Report No.
ANK30/1195/97.

Exploration History



CSAMT survey in 1993 detected the more resistive Proterozoic basement
metasedimentary rock (below 425 m depth) and highlighted the uniformity in
1990’s Early Newcrest Exploration thickness of post-mineralisation cover.


















HAC9503 HAC9502











HAC9501 0.4
CSAMT line -0.0 Three angled (70-75°) diamond holes (HAC9501-9503) at a 300 m x 300 m
0.2
0.2
0.1
pattern around the HAC9101 and HAC9201 mineralised intercepts.
0.0
-0.1
-0.2
-0.3
-0.6 Drillhole HAC9502 intersected patchy hematite-chlorite with broad
mGals
intersection of 131.5 m at 0.15 g/t Au & 0.02 % Cu, associated in part, with
1
hydrothermal breccias infilled by quartz-calcite-pyrite ± chalcopyrite .


1 Russell, P.J. 1997. Summary of Exploration 1990 - 1996 Havieron Prospect ML 45/605 (Anketell Project) Telfer District. Newcrest Mining Ltd. Internal Report No.
ANK30/1195/97.

Exploration History



Although no significant zones of sulphide mineralisation were encountered in
subsequent drilling (HAC0301), it was concluded that the intrusion-driven
2000’s Early Newcrest Exploration hydrothermal system remained open at depth.
103.4m @ 0.4 g/t Au, 0.11 % Cu (424m)
Including 4m @ 3.5g/t Au, 0.57% Cu
(439m)
Newcrest and 3.5m @ 3.4g/t Au, 0.47% Cu
Havieron Long Section (451.5m)
2003
NW SE
0m RL HAC9503 HAC9201 HAC9502 HAC9101 HAC0301 0m RL





8.7m @ 0.44 g/t Au (578m)
-250m -250m
45m @ 0.19 g/t Au (465m)


-500m -500m


11m @ 2.4 g/t Au, 0.5 % Cu (422m)
HAC0301 4m @ 1.95 g/t Au (516m) 2.6m @ 9.4g/t Au, 0.7% Cu (427.5m)

Crescent Sulphide Zone 53040
2021 0.4
0.2 53000
0.2 nT
0.1 52960
0.0
-0.0
-0.1 52920
-0.2 Modelled Magnetic Profile
-0.3
-0.6
mGals
Modelled Magnetic Profile
Hydrothermal alteration assemblage of actinolite-biotite
(carbonate) and albite-calcite (HAC0301, 554.8m)


1 Wilson A, Stewart, M.A., 2004. Annual Technical Report to DOIR Period from May 9, 2003 to May 8 2004 Terringa
E45/2418, 2005 Telfer District WA. Newcrest Mining Limited..

Discovery of Havieron



On 25th July 2017, Greatland purchased the ground and immediately worked
to enhance the definition of Havieron’s footprint using an innovative approach
2017 Greatland Gold to geophysical modelling





High-resolution
Aeromagnetic Data Residual of the Terrain Digital Terrain Model* Magnetic model response at
(50m spaced NNE flight lines at 40m altitude) Corrected Gravity depth slice
d=420m with drill collars and surface trace

























Mineralisation centred on “bullseye’ A weak (0.5mGal) irregular gravity ovoid in
100 nT magnetic anomaly the terrain corrected residual gravity Target mineralized rock volume

Gravity data defined an irregular gradient. *Three large sand dunes disrupt the Bouguer gravity
image due to over-correction (using the standard density of 2.67 gm/cc); this disruption was
reduced using a density of 1.50 gm/cc consistent with the loose dry sand within the thick dunes.



1 Hanneson, J.E. and Baxter, C.N., 2021. Havieron discovery - geophysical modelling and drilling. Unpublished Greatland Gold Report.

Discovery of Havieron




The target mineralized rock volume (intersected in historical hole HAC9101)

2018 Greatland Gold was found to extend from 0.42 km to 1.3 km depth, with a footprint of +600 m
NW-SE and +400 m NE-SW .
1







❑ Geologically informed forward modelling suggests
only two historic holes intersected the target


A joint interpretation of gravity-magnetic data assumed
magnetite or pyrrhotite were the main contributor to the local
magnetic response, is dense (5 gm/cc), and in sufficient
concentrations to contribute to the local gravity field


❑ Greatland’s first drill holes were designed to
intersect the coincident source of the magnetic
and gravity anomalies at Havieron – HAD001
established the presence of higher Au grades
HAD001: 121 m at 2.93 g/t Au and 0.23%
Cu from 497 m, including 11.5 m at (peak 137 g/t Au) 2
21.23 g/t Au and 0.67% Cu from 568.5 m 1

❑ Elevated Au and Cu persisted to the end of hole
suggesting the mineralisation continues at depth




Target mineralized rock volume


1 Hanneson, J.E. and Baxter, C.N., 2021. Havieron discovery - geophysical modelling and drilling. Unpublished Greatland Gold Report
2. see announcement Greatland Gold PLC 14 February 2018

Greatland’s first two drilling programs







2018 Greatland Gold



❑ Significant widths of Cu mineralisation were returned from ‘discovery hole’
HAD005 (peak Au and Cu grades up to 211.30 g/t Au and up to 8.45 % Cu)


❑ An upper zone of 118 m at 3.08 g/t Au and 0.84% Cu from 459 m to 577 m,


❑ A lower zone of 157 m at 6.04 g/t Au and 0.44% Cu from 660 m to 817 m, including:
HAD005
113 m at 8.30 g/t Au and 0.61 % Cu from 663 m HAD007
HAD006 HAD008
❑ These zones comprised calcite-quartz veins and breccias with associated massive
pyrite-chalcopyrite-pyrrhotite mineralisation


❑ Greatland’s 2018 drilling campaigns at Havieron yielded results that included:


❑ HAD001: 121m @ 2.9 g/t Au and 0.23 % Cu from 497m


❑ HAD003: 21m @ 3.8 g/t Au and 0.44 % Cu from 418m

❑ HAD006: 54m @ 2.7 g/t Au and 0.79% Cu from 471m


❑ HAD008: 67m @ 2.0 g/t Au and 0.91 % Cu from 426m


❑ At the conclusion of this drilling, Havieron had been tested to approximately
840 m vertically below surface and remained open at depth


2. see Greatland announcement 19th November 2018

Growth of the System





On the 12th of March 2019, Greatland entered into a farm-in agreement with
2019 Havieron Joint Venture Newcrest, with drilling subsequently commencing at Havieron on the 22nd May 2019.













❑ Early drilling sought to define the extent of the mineralisation along
strike and test the system to a depth of 1,000 m below surface.


❑ Newcrest extended Greatland's hole HAD006 from 838m to 1216m,
and successfully identified higher grade mineralisation at depth, with
mineralisation observed over 700 m in vertical extent.


❑ Detail in the geometry of the Havieron mineralisation emerged early –
HAD010 drilled less than 50m to the southeast of the main complex

and HAD006, failed to intersect significant mineralisation.
















Section Line 7597650mN as published 24 October 2019 Newcrest Quarterly Exploration Report for the three months ended 30 September 2019.

Geometry has Evolved Over Time




By the end of September 2020, up to eight drill rigs were operational and drilling

2019 Havieron Joint Venture continued to define an ovoid shaped zone of variably intense brecciation,
alteration and sulphide mineralisation


6 RigsRigs 8 Rigs
6




HAD006 (extension): 23m at 1.0 g/t Au and
0.19% Cu from 872m, 12m at 3.1 g/t Au and
0.08% Cu from 1071m, 52 m at 7.0 g/t Au
and 0.17% Cu from 1122 m including 17 m
at 21 g/t Au and 0.39% Cu from 1153 m 1




















Initial targeting of a north-south Recognition of a sub-vertical Definition an ovoid shaped zone of Ovate alteration zone in which the bulk of
trending structural zone of arcuate zone of mineralisation variably intense brecciation, alteration mineralisation concentrated along the
mineralisation localised along the defined through sulphide mapping and sulphide mineralisation south eastern edge of a complex of
dolerite intrusion nested diorite intrusions

In a short period of time, targeting has shifted from a Telfer-like model, to Havieron breccia-related mineralisation being more intrusion-centred


1 see Newcrest Exploration Update – Havieron 2nd December 2019. Figure shown is from Newcrest presentation tilted ‘Denver Gold Forum – Delivering Profitable Growth’ dated 21 September 2020. The Havieron diagrams included in this slide have been extracted from the
Newcrest release titled “Exploration Report” dated 10 September 2020 and other exploration releases. This release includes the exploration results for all material drill holes shown.

Under Cover Discovery



On the 10th December 2020, Newcrest announced an Initial Inferred
Mineral Resource Estimate for Havieron – over 160 km of drilling has
2020 Havieron Joint Venture been completed.


Geology Limit of calc- HAD084 342.2m
Plan View +463800 E +464100 E @ 2.0g/t Au & Initial Inferred
silicate alteration 0.11% Cu, incl.
+7598100 N 14m @ 19.0g/t Mineral Resource
Au & 0.2% Cu 2
estimate for
Havieron of 3.4Moz

Au and 160Kt Cu 1





LEGEND

Inferred Resource (Dec. 20)
full extent
+7597800 N Calc-silicate alteration +
breccia
HAD089
116m @ 2.9
g/t Au & Undifferentiated
0.07% Cu sedimentary rocks Higher grade quartz-cemented breccia (from
Incl. 13m @ SE CRESCENT HAD123 169.5m at 3.4g/t Au & 0.33% Cu from
13g/t Au & Diorite 711.5m including 58.9m at 6.2g/t Au & 0.23% Cu
0.17% Cu 2 ZONE from 736.1m including 3.1m at 95 g/t Au and 0.50
% Cu from 781.8m.
Dolerite

HAD0133 85m @ +1 g/t Au samples in drillcore
0 0.2km 11g/t Au and Note drillhole traces shown only below 4400mRL
0.29% Cu 2


1. The Initial Inferred Mineral Resource estimate is presented on a 100% basis. Refer to Newcrest release titled ‘Newcrest Initial Inferred Mineral Resource estimate for Havieron of 3.4Moz of gold and 160Kt of copper’ dated 10 December 2020.
2. The Havieron drill results on this slide have been extracted from Newcrest’s release titled “Quarterly Exploration Report” dated 22 July 2021 and other prior exploration releases.

Havieron Geology



The Havieron gold-copper deposit comprises a series of nested vertically
extensive breccia columns that coalesce into a large volume of mineralisation
2021 Havieron Joint Venture occurring along the contacts of a multiphase diorite dyke complex trending
northwest-southeast and dipping to the southwest.


Geology Limit of calc-silicate
Plan View +463800 E alteration +464100 E
+7598100 N














+7597800 N



SE CRESCENT
ZONE



0 0.2km


Inferred Resource (Dec. ‘20) Diorite Crescent Zone itself lies along the southeast margin of a broader zone of
full extent
hydrothermal carbonate-quartz-sulphide-actinolite-biotite-cemented
Calc-silicate alteration + breccia Dolerite
breccias, veins and replacements, defining an ovoid zone.
Undifferentiated sedimentary
rocks

Havieron Growth





Mineralisation remains open, with results indicating the potential for
2021 Havieron Joint Venture the resource to grow over time with additional drilling.






4400mRL Plan View +464000 N +464500 N Cross Section View
+150gm intercepts outside A A’
Mineral Resource
4800mRL
+1g/t Au samples in drillcore LEGEND
Note drillhole traces shown
only below 4400mRL Inferred Resource
Full extent

+7598000 N Dolerite

+150gm
intercepts
outside SE
Mineral CRESCENT
Resource
ZONE
HAD0133
85m @
HAD086W1 11g/t Au
LEGEND 50.4m @ 4.3g/t and 0.29%
Au & 1.6% Cu
Inferred Resource HAD133W2 Cu
Full extent
SE CRESCENT 53.6m @ 4200mRL
A ZONE 0.38g/t Au & 2 cm
Calc-silicate 0.41% Cu
alteration + breccia
Diorite HAD133W1
- 65m @
A’ SE 8.4 g/t Au Higher grade sulphide-cemented breccia
Dolerite (from HAD133 returned 85m @ 11g/t Au
CRESCENT and 0.29% Cu from 1345m. This
0.2k
1.0g/t Au Leapfrog TM grade shell 0 0.25km 0 m DEEPS Havieron drill result has been taken from
Shown only below 4400mRL TARGET Newcrest’s Exploration Update dated 10
June 2021.
1. The Havieron plan, sections, and drill results from Newcrest presentation titled ‘Advancing our Global Organic Growth Portfolio’ dated 12 October 2021.

Lessons Learned




Discovery of Havieron highlights the importance of:


❑ a systematic approach to targeting under cover


❑ adaptive exploration models


❑ drill for geology capturing systematic core-based observations


❑ geology-led geophysical modelling – multi-parameter approach


❑ a collaborative environment that brings together field-based

geologists with industry-leading technical experts


❑ technology and expertise to mine deep ore bodies, and


❑ corporate support for drilling of concealed and deep targets to

rapidly explore the mineralized footprint of a system.

The Winu-Ngapakarra Cu-Au-Ag deposit (“Winu”)














































Presented by Hilke Dalstra
Acknowledgements to co-authors: Adam Black, Edward Chembeya, Jennifer Maguire, Damien Ewington, Murray Rayner and Inna

Mudrovska


Acknowledgements also to the entire Winu Team. This presentation would not have been possible without their enthusiasm and

hard work

The Winu-Ngapakarra Cu-Au-Ag deposit (“Winu”)








• Winu is located in the Great Sandy Desert of

Western Australia, approx. 100km NNW of Telfer


• Access is via Great Northern Highway and several
unsealed roads, mainly constructed during oil and
gas exploration prior to the 1990ties


• Weather conditions are extreme, temperatures can
o
reach up to 50 C and the area is frequently affected
by tropical cyclones





• After discovery in late 2017, RTX applied for a large
area of tenement which together with j.v.’s cover a
large part of the northern Yeneena basin/ Paterson
orogen

Exploration history






• Early 1970ties, discovery of Telfer gold deposit. This
led to intense exploration of the southern

(outcropping) Yeneena Basin


• Subsequent discovery of other mineralisation styles
in the area; e.g. Nifty sediment hosted copper,
O’Callaghans skarn W-Zn-Pb-Cu, Kintyre uranium
etc


• Up till the early 1990ties exploration in the northern,
undercover part of the Yeneena basin (Anketell
Shelf) was mainly restricted to seismic surveys for oil
and gas exploration



• From the early 1990ties regional exploration by BHP
(regional aircore drilling and GEOTEM surveys) and Winu
focussed exploration programmes by a number of
companies (e.g. Croesus/ Gindalby, Teck, Glengarry,
Antipa). This led to discovery of the Magnum and
Calibre gold-copper deposits by Antipa


• RTX entered Citadel joint venture with Antipa

Minerals in October 2015

Timeline















2016 2017 2018 2019 2020 2021



Citadel JV Regional review & discovery Drilling ASX evaluation & Resource evaluation &
Resource
Resource
target generation
(Mtambo targets) AEM Survey EL Granted Heritage Survey Winu Camp build Ngapakarra discovery First Announcement studies drilling annaunced studies drilling






Summary Maiden


• Mid 2016; RTX commenced independent review of the northern Paterson orogen primarily
focussed on copper

• Geological interpretation & review of public data led to the selection of numerous target
areas, including the Mtambo targets. A limited number of smallish tenements were applied
for

• Two main target models were 17 Mile Hill style Cu-Au and Telfer style Au-Cu
• RTX tenement was granted and a late 2017 season drill programme drilled two RC holes in
December 2017 producing the Winu OGWI

• After camp, core farm and airstrip construction an intense campaign of diamond and RC
drilling commenced resulting in a “maiden resource” announcement in July 2020

Timeline















2016 2017 2018 2019 2020 2021



Citadel JV Regional review & discovery Drilling ASX evaluation & Resource evaluation &
Resource
Resource
target generation
(Mtambo targets) AEM Survey EL Granted Heritage Survey Winu Camp build Ngapakarra discovery First Announcement studies drilling Maiden annaunced studies drilling



























RTX Applications-

September 2016

Camp, core farm, airstrip

The Paterson Orogen; assembly of North and West
Australian Cratons (1.8-0.6 b.y.)




Permian and younger
Winu (Cu-Au) Granite


Disappointment Group
Barnicarndy
O’Callaghans 607 Ma Paterson orogeny Basin Tarcunyah Group
Yeneena Supergroup
690-600; transitional to anorogenic, I type
Telfer 650 Ma
granites
Rudall Complex
810Ma? Miles orogeny (intracratonic?) Nifty (Cu)
Pilbara Craton
Nifty 810-790 Ma
860-810; Yeneena basin sediments
Telfer (Au-Cu)
Kintyre 837 Ma
Pilbara Yeneena Basin
Craton
Kintyre (U)






1800-1760; subduction Rudall Complex


Map Area


Perth

G.A.; Czarnota et al. 2009
G.A.; Hutson et al. 2010

Paterson Anketell Shelf; solid geology interpretation
































2016 structural/ stratigraphic
interpretation of the Anketell Shelf

Correlatives of the Lamil Group rocks

(incl Malu Fmtn) Carbonate sequences
mostly missing

Major SSE plunging anticlines, faulted
synclines, major NNW trending faults


Granitoid intrusions (mag & non mag)

NNW trending subbasin (Barnicarndy)

Mtambo targets defined

Citadel

(Venus)
Anketell Shelf; solid geology Anketell C.



Winu ?





? H. Grade
Metam.
650Ma
?

Telfer


?




Granulite




Mid amphibolite
Increasing

metamorphic grade
Upper greenschist















Lower greenschist

Cu-Au mineralisation model for the Paterson






(Goellnicht 1992); an early “mineral system” approach









• Nicola Goellnicht and Steve Rowins published

early ore genesis models for Au-Cu and Cu-Au
deposits in the Paterson. Of particular interest

was 17Mile Hill Cu-Au deposit



• Rio focus on Cu-Au; “17Mile Hill” Cu-Au

deposit model




• Important aspects of the model are proximity to
granitoid, presence of contact metamorphic

halo and stratigraphic setting (sandstones/

quartzites)

Cu-Au mineralisation model for the Paterson








Rowins (1994) Reduced porphyry Cu deposits




Added importance of a significant lineament
(fault?)

2016
Winu drilling 2016 and 2021











• Drilling 2016 restricted to BHP aircore holes slightly
to the east and S of Winu (blue dots)



• None of the nearby holes penetrated the Permian
cover



• >260km of drilling by July 2021


2021








Ngapakarra



Winu













Winu drill area – December 2017 looking east

Winu tenement geology (basement) and drilling











• Winu is situated along the western margin of the
Anketell shelf



• Proterozoic basement rocks are younging to the
west



• Massive sandstones most likely correlate with the
upper Malu Formation



• Intensity of folding increases to the margin



• Granitoids intruded to the N and S of Winu

Winu geological modelling; stratigraphy











• Geological modelling utilises
oriented core and RC drilling

with televiewer measurements
collected on both drilling

techniques


• Lithological units (sandstones/

siltstones) difficult to visually
distinguish in logging

(“monotonites”)


• Stratigraphy therefore modelled

using immobile trace element
ratios

• Image shows drillholes colored
according to stratigraphic
interpretation

Winu: geology 137 RL


















Fa: 303/06






N=639








N=4262










Fa: 156/03

Winu: gold (137 RL)




























A
B






open




open

Winu: copper (137 RL)




























A
B












open

Winu: cross section

Winu: cross section gold

Winu: cross section copper

Winu geological modelling:

grade shells













Example of copper grade shells (0.2, 0.5 and

1%Cu)
Modelled using Leapfrog software



Supergene and hypogene zones are modelled
separately



Alteration models developed from logging,

geochemistry and CoreScan multispectral logging

Interbedded
siltstone & Massive structureless subarkosic Turbidites
Host Rocks sandstone sandstones (“monotonites”) Rip-up clasts







Load
structures







Cross bedding























MONT0008 392


MONT0004 321.7






WINU0046 385.5
WINU0725 390.6 WINU0722 266.4-269.8 WINU1004 127.5-128.0

Host Rocks

Pre mineralisation Post mineralisation
Calc-silicates Mafic sill Dykes
(ep-gt-cpx-hbl) (Basalt-alkali basalt) (Andesitic-basaltic)


Biotite/ chlorite rim, qtz+Kspar core
mafic


dyke



Porphyroblastic
metasst/ hornfels



200μm




??














metasst
500μm




MONT0001 243.4 WINU0046 381.8 Cordierite rim, andalusite core WINU0015 490.5 WINU0001 339.2

Vein styles: Pre mineralisation (V ), Early mineralisation (V )
0
1





V1: Early “stockwork”
K-spar-sericite-albite
• V0: Rare folded (metamorphic?) quartz S (sulphide)

veins 0 Veinlets V1;
(weak mineralization)

• Early mineralised veins are generally

rich in K-feldspar; high T



• V1: Early stockwork type K-feldspar-

sericite-albite veinlets, flat dips, weakly

mineralised, mineral assemblage host
rock controlled
WINU0046 339.7m









S 0 V

WINU0725 400m 1

V0: Rare folded qtz veins // bedding
pre mineralisation/ metamorphic?
WINU0067 266.7

Vein styles: Early mineralisation (V )
2





Chris Rutherford 2021


• V2 Comb- or dogtooth textured K-

feldspar-quartz-biotite-sulphide (bi)
veins
bi

Kspar
• Variable trend, NE to N with steep dips,



• Pegmatitic, transitional magmatic Kspar

hydrothermal qtz




qtz WINU0744 347.4m
Dogtooth textures with K-spar
& bi, “pegmatitic”
cp

V2: Quartz-K-spar-
(albite-biotite) sulphide
veins V2, comb textures,
“pegmatitic”

WINU0001 380.0m

Vein styles: Main mineralisation (V )
3A




WINU0020 285.0m WINU0725 401.6m WINU0725 401.6m WINU0352 187.1m
qtz Kspar

• V3A: Quartz and sulphide rich, less K- qtz
feldspar with biotite-sericite and or K-

feldspar alteration halos

bi
• Mostly moderate easterly dip (55)
Kspar+
• Sulphides often associated with lower-T car+chl

minerals such as chlorite and carbonate in cp cp
fractures (+minor sulphates) and localised cp

reverse faults (V3D) indicating N-S cp
compression
qtz


• Locally open space fill sulphides



bt cp: V3 D
bt





V3 : Reverse E-W
D
V3 : North-trending E-dipping quartz-sulphide-K-spar (bi, Au) faults with Cp
A

WINU0726 452.3m
Vein styles: Main mineralisation (V )
3B




MONT0004 237.2m
qtz


• V3B: Gold-rich quartz veins with low sulphide
content



• High contents of native bismuth, tellurobismuth and

bismuthinite bi


• V3B veins are E-W to ENE trending with steep dips

in Winu, NW trending at Ngapakarra K-spar



• Timing is indistinguishable from V3A sulphide-rich
veins
cp





bi
bt









V3 : E-W to NW trending quartz-bismuth-gold (sulphide)
B

Main stage mineralisation: pyrite-rich veins and pyrite/ chalcopyrite breccias (V3 )
C



WINU324 265.0m WIN0067 298.2 WINU0020 272.8m MONT0013 149.3m
m

py (cp)


car



Qtz











py (cp) W




W






qtz qtz
Sch cp+py

cp+py




V3 : East dipping sulphide-carbonate-quartz (bi-Au) veins V3 : East dipping sulphide-quartz breccias
C
C

Late-stage quartz veins (V4), post-mineralisation dolerite dykes and

fractures/ faults/ breccias (V5)





WINU0020 422.0 WINU0322 326.5m WINU0046 343.0 WINU324 265.0 Supergene overprint






ccp+py




Kspar car+py

qtz

cp co


mafic dyke gn





ma





qtz qtz cc








car+py



V4 Quartz veins V5 Carbonate-pyrite fractures/ faults/ breccias

Winu veins and breccias, schematic























Late fractures, faults/ breccias (V5)



Mafic dykes


Late quartz veins (V4)


Main veins, breccias (V3A-C)



Comb/ dogtooth textured veins (V2)


Stockwork veins (V1)




Sandstone + siltstone


Sandstone