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Newmont continues NZ exploration
4 September 2007 - Exploration success in the Hauraki goldfield will be critical to the future of Newmont Waihi Gold’s operations at Waihi, the general manager of the company Glen Grindlay told the AusIMM conference in Christchurch.
Mr Grindlay said that with currently four years of reserves remaining at the Favona underground gold mine and three years of ore from the Martha open pit, the challenge was to find new deposits in a timely manner.
He said the company knew there were over 50 epithermal deposits in the Hauraki field and that the area was comparatively under explored. The exploration challenge was to find a Martha-sized resource or a high quality ore deposit capable of being mined underground.
He said Newmont Waihi was spending about $10m a year on exploration mainly in the Waihi area.
Exploration is currently underway on the eastern and western perimeters of the Martha pit and beneath the pit floor. Continued exploration is also continuing from underground within the Favona mine.
Source: Newmont Waihi
