Red Chris Drill Hole Returns 1.7% Copper and 3.3 g/t Gold Over 276 Metres - Seite 2

Results from RC611 have confirmed the presence of a discrete high grade zone averaging more than 5 g/t gold. Though this zone was previously intersected by Imperial, RC611 was the first angled hole intersection which has confirmed this high grade ‘pod’ as being approximately 100 metres long, 100 metres wide and 200 metres in height. The hole was drilled at minus 58° at an azimuth of 145° from the northwestern side of the east pit, and was designed to provide detailed geological and geotechnical information at depth in the East zone. The hole also cuts across the high grade intercept in vertical hole RC09-350 drilled in 2009, which intersected 432.5 metres of 2.00% copper and 3.80 g/t gold. The strong gold to copper ratio in RC611 is consistent with other drill intercepts in the deep East zone.

Further drilling is planned to more clearly understand the full potential of this zone and to search for additional high grade pods within East zone. The underground mining Concept Study currently in progress will evaluate the option of stoping high grade pods before other bulk underground mining methods such as block caving or sub level cave mining. Work also continues on evaluating the commencement of a decline late in the 2020 calendar year to further enhance and accelerate exploration efforts, with such a decline also being of use for any underground mining operation.

Hole RC611 is a partial intercept and Newcrest is awaiting results for the remainder of the hole, however the high grade zone is not expected to extend beyond the reported interval.

The Brownfields Exploration Programme continued, with 6 holes completed and is designed to search for new zones of high-grade gold-copper mineralization within the porphyry corridor.

New results from the Gully zone include:

•   RC608R returned:

• 204m @ 0.45 g/t Au and 0.29% Cu from 634m
• including 46m @ 0.68 g/t Au and 0.38% Cu from 636m

Drilling continues to expand the footprint of mineralization in the Gully Zone and Far West. Mineralization has been observed over a broad area 800 metres long, 800 metres wide and over 1,000 metres vertically. The best grades within this area, which are more than 0.5 g/t gold, are in at least five discrete zones open in multiple directions requiring additional follow-up drilling to determine their full extent.