The Gosowong Goldfield: A World Class Epithermal

Gold Silver District in Indonesia

ANTAM-Newcrest Alliance

It is important to note the Gosowong Goldfield has had a history spanning more than 20 years and this presentation is a culmination of work by
many Antam and Newcrest geologists past and present, researchers and consultants. I acknowledge their important contribution to the discovery
and evolving understanding of these unique deposits.
Overview

• Location

• Regional Setting

• District & Deposit Geology

• Exploration History

• Exploration Targeting

• Summary
Fast Facts

• Owner and operated by PT Nusa Halmahera Minerals

• 75% Newcrest Mining Limited (NCM)
• 25% PT Aneka Tambang (ANTAM)
• Resources: 4.6Mt @ 13g/t Au for 1.9Moz (100% December 2014)
• Reserves: 3Mt @ 12g/t Au for 1.1Moz (100% December 2014)
• Annual Production: 344,747oz Au (100% December 2014)
• Total Production: >4Moz Au
• Total Endowment: >6Moz Au
Creating value through exploration

6 Moz Au Discovered
• One of the Worlds Highest Grade
Epithermal Districts

Source: 2014 Investor Day Presentation (Growth).

Regional Setting – Multiple Arcs

Clarke, 2012
Regional Setting – Double Subduction

Active Volcano

VOLCANO

Clarke, 2012 Global Ore Discovery, 2010

Regional Setting – Double Subduction
Regional Geology
Late Cretaceous
Ophiolites in East Arm, edge of South Arm and edge of Central. North tip of
Halmahera and NW part of Morotai Island, overlain by arc related sediments
and volcanics (Buli group).

Late Miocene – Early Pliocene

Submarine conglomerated to turbidites in western Halmahera and shallowing of
clastics to limestone (Weda group).

Early to Late Pliocene

Lavas, breccia, tuff, shallow marine to sub-aerial (incl. Kayasa Fm and
Gosowong Fm) coincident with folding and thrusting.

Quaternary
Fringing reef limestone, alluv, tuffs, fall and flow deposits ass with present
active arc

Halmahera Structure
West vergent fold thrust belt of Miocene back arc sediments in a suture zone
between east and west halmahera.
West vergent thrust belt along the southern Arm (NS strike). Miocene Arc
sediments thrust over older volcanics.
Major NW faults that compartmentalise the NS thrust.
NW faults in the Pliocene sequences and re-activated into quaternary. Can see
NW in eastern arm of Halmahera.
Late, strong NE faults developed in North Arm. Late N-S structure developed in
North Arm.

Global Ore Discovery, 2010

CoW
NOW RELINQUISHED

• Initial : 1,670,000 Ha GOSOWONG

GOLDFIELD
• Present: 29,622 Ha (1.8%)

Kau Bay

CURRENT
PT NUSA HALMAHERA MINERALS
CoW BOUNDARY

M
al
uk
u
Se
a
Equator

0 50 100

Kilometers
PHILIPPINES

MA
LA
YS
IA
SIA
L AY
MA MANADO

SU
M
AT
KALIMANTAN

R
A
IRIAN
JAYA
JAKARTA SULAWESI

JAVA

AUSTRALIA
District Geology – Windows into mineralisation

0.85 Moz Au and 1 Moz Ag*

1.3 Moz Au and 2.6 Moz Ag*

3.9 Moz Au and 3.3 Moz Ag*

6 Moz Au
Discovered
District Geology – Resolving Stratigraphy

Quaternary Pyroclastic Fall Dacitic Pyroclastic

Quaternary Fall Fall
Pyroclastics
Tuff -Village

Andesite Lava Hematitic Mudstone

Basalt Diorite Porphyry

Diorite Micklethwaite, 2010

Deposit Geology – A Comparison

Key points…

modified after Olberg, 2001

modified after Wardiman, 2001

Exploration History
 Plan View
Gosowong Geochemistry
1994 Discovery Outcrop SS:4.06 ppm
PC: 81 colours

Rig & Spur soil max 6.9 ppm

Grid soil max 109 ppm Au
Gosowong Discovery Drillhole
Gosowong Geology
Gosowong
Fault
R iv e r
obo
Tob

K war
Qtz Vein Stockwork Zone

sa Cr
120m strike, 10 - 25m wide
1 -10g/t Au

eek
A B
Qtz-Chlorite Vein Zone
40m Strike length, 2 trenches average -
25m @ 38g/t Au, 40g/t Ag (1g/t cut-off)

Chalcedonic Qtz Vein

Approx. 100m strike length
averages <1g/t Au
C D
Qtz-Adularia Vein Zone
120m strike, 4 trenches average -
33m @ 45g/t Au, 17g/t Ag

LEGEND

Quaternary Tuff

Volcaniclastic E F
Andesite

Ignimbrite

D. Olberg, 2001
Peripheral Qtz Vn Stockwork
<1g/t Au
Gosowong
Fault G H
Gosowong Geology
Gosowong Cross Section 10,200mN
(D. Olberg, 2001)
Gosowong Longsection
Toguraci Oucrop

Damar : 6m @ 10g/t Au

Midas:
1.5m @ 6.4 g/t Au (1996)
1.5m @ 89g/t Au (2000)
Toguraci Drilling
First Discovery in 2000 – Outcrop (Midas & Damar) & Drilling (Kayu Manis & Wulan)
Second Discovery in 2009 – Drilling (Damar North & Yahut)

340,000oz Au (2001)
690,000oz Au (2009)
Kencana Discovery – Prospectivity Analysis
The parameters used in this ‘prospectivity matrix’ included (in order of importance):
1. Stratigraphy: 10 points for Gosowong Volcaniclastics, 5 points for ductile mudstone
beds within competent lithologies.
2. Au grades: 10 points for grades of >5 g/t Au, 7 points for grades of 1-5 g/t Au.
3. Total dilation: 7 points for fault dilation >8 m, 4 points for fault dilation from 4-8 m.
4. Vein zone dip: 7 points for vein zone dip >60˚, 4 points for vein zone dip from 45-60˚.
5. Vein texture: 7 points for poly-compositional colloform/crustiform/cockade banding, 5
points for banded chalcedony, 1 point for bladed calcite pseudomorphs.
6. Alteration: 4 points for illite chlorite altered zones, 2 points for illite-smectite and
smectite-chlorite altered zones.
7. Fluid inclusions: 4 points for Th of 200-225˚C, 2 points for Th of 225-250˚C.
8. Au/Ag ratio: 2 points for values >1, 1 point for values between 0.25 – 1.0.
9. Cu/(Cu+Zn) ratio: 2 points for values >73, 1 point for values between 60-73.
Kencana Discovery – Prospectivity Analysis

S N

D
E
meters down dip

A
B

Prospectivity Rating
Drill hole location
40-53 Extremely prospective
Proposed drill hole
30-40
Area of interest
20-30 Moderately prospective
10-20 Sufficient drill hole density

5-10
0-5 Not prospective
Kencana Discovery – Hole A

200RL

100RL

0RL

-100RL

-200RL

-300RL

9400N
5000E 5100E 5200E 5300E 5400E 5500E 5600E 5700E
Kencana Discovery – Hole A

Shear zone
<0.1g/t Au
Discovery Hole
10.6m @ 20g/t Au

15m @ 0.5g/t Au
Kencana Discovery
DSD005 10.55m @ 20g/t Au, 22g/t Ag
Kencana (K1) Section

5.3m @ 120g/t Au

17.55m @ 78g/t Au

23.45m 110g/t Au

10.9m @ 127g/t Au
REFERENCE
16.6m @ 120g/t Au
Diorite
Volcaniclastic Mudstone 9.2m @ 44g/t Au
Volcaniclastic Sandstone
Volcanic Andesite 16.9m @ 46g/t Au

Quartz Stock Work 15.05m @ 17g/t Au

Main Vein 11.25m @ 8.5g/t Au
Main Shear
8.65m @ 41g/t Au
Structure
27.4m @ 25g/t Au
0 100

meters
Epithermal Veins - Size
Cracow (3.9 Moz*) Gosowong (6.4 Moz Au)

1 km

1 km
Vein Geology – Proxy for Dilation
 Level Plan 4800mRL
Kencana

Looking west

K1

KLINK
KLINK
K2

K2

29
 Kencana - Surface
Calcite Veins

90m

Cy-Py Fault Travertine

30
 Kencana - Crystalline Quartz-Calcite Vein

 Fine grained, milky white quartz;

 ~10cm thick, low volume;
40m  No significant assays.
50m

31
 Kencana - Crystalline Quartz Stockwork/Breccia

 Drusy, crystalline white quartz;

 High volume of quartz;
75m  10m @ 0.1g/t Au (max 0.3g/t).

15m

32
 Kencana - High Grade Textures

Crustiform-Colloform

>1000g/t Au

Breccia

~20-100g/t Au

Sugary-Sacchroidal

~20-100g/t Au

33
 Kencana - Crustiform, Colloform, Cockade

Crustiform-
Colloform
Banding

~5-20g/t Au

Cockade
Banding

~5-40g/t Au

34 Note: No Chlorite Event therefore no bonanza grade

 Kencana - Stockwork + Sheeted Crystalline

At depth and peripheral.

Broad low grades (0-5g/t Au).

Sheeted

Stockwork

275m

35
 Kencana - Summary
High level in fertile structure
90m above ore
Argillic Fault +/- Carbonate veins (NSA)
50m
Thin crystalline quartz-calcite vein (NSA)
15m
Crystalline qtz stockwork/breccia
(10m @ 0.1g/t Au, max 0.3g/t)
(drusy quartz and bladed pseudomorphs)

Crustiform, colloform, cockade, breccia,

sugary/sacchroidal textures
Adularia, Chlorite, Sulphides
(ore Au grades)

Stockwork and sheeted coarse grained

crystalline quartz, high volumes
36
 Vein Geology – BOD-Yahut

Mode

Mineral Texture
District Geology – Resolving Stratigraphy

Quaternary Pyroclastic Fall Dacitic Pyroclastic

Quaternary Fall Fall
Pyroclastics
Tuff -Village

Andesite Lava Hematitic Mudstone

Basalt Diorite Porphyry

Diorite Micklethwaite, 2010

Gosowong District Chemostratigraphy
Gosowong Rock Chip Geochem
• basalt 30 to 50 ppm Sc,
• andesite 20 to 30ppm,
• dacite 10 to 20, and
• rhyolite less than 10ppm.
Gosowong Deposit - Lithology

Kayasa Formation

Gosowong Formation Gosowong Formation

Modified after Jansen, 2014

Gosowong Deposit - Alteration

Kaolinite - dickite
Vuggy quartz

Kaolinite

Modified after Jansen, 2014

Airborne Magnetics – Maps Alteration

Gosowong Gosowong
Toguraci Toguraci
Kencana Kencana

RTP AS
Hoschke, 2015
ElectroMagnetics vs. Magnetics (shallow)
• Airborne Magnetics (2008) • Airborne Electro-Magnetics (2015)
• Maps geology: depth unknown • Maps geology: depth of cover;
• Maps alteration: featureless. • Maps alteration: depth and structure.

Gosowong Gosowong
Toguraci Toguraci
Kencana Kencana

AS EM 50m Resistivity
ElectroMagnetics vs. Magnetics (deep)
• Airborne Magnetics (2008) • Airborne Electro-Magnetics (2015)
• Maps geology: depth unknown • Maps geology: depth of cover;
• Maps alteration: featureless. • Maps alteration: depth and structure.

Gosowong Gosowong
Toguraci Toguraci
Kencana Kencana

RTP EM 100m Resistivity

XTEM Resistivity Comparison

Gosowong X2

Martabe Yanacocha

Similarities with high sulphidation epithermal systems (same scale), Hoschke 2015.
District Geochemistry – Porphyry & Epithermal

Gosowong Gosowong
Toguraci Toguraci
Kencana Kencana

Mo Sb

modified after Halley, 2014

Gosowong Alteration and Geochemistry

Gemmel, 20107
Epithermal outflow: exploration tools available

Northern Lithocap area: epithermal deposits obscured under alteration?

Jansen, 2014
Alteration – Geochemistry Footprint

Jansen, 2014
 CSAMT – Maps Stratigraphy

Conductive Andesite Dominated Units

(Gosowong Formation)

Resistive Basalt Dominated Units

(Gosowong Formation)

Conductive
Kayasa Formation Resistive
Quaternary Cover
CSAMT –Maps undercover

Cover
Upper Kayasa Fm

Gosowong Fm

planned
completed
• Continue to successfully
distinguish geology units
as expected. Kayasa Fm
deeper toward the south Gosowong
east. Suspected down
faulting south and east.
• Offsets in geology units
potentially indicate new
Kencana
structures under cover
3.5km from the plant;

Potential Targets

1km
Induced Polarisation – Maps Mineralisation

Hoschke, 2015
Summary

Geology
• Stratigraphy is critical to
understanding everything.

Geochemistry
Discriminates stratigraphy &
alteration – pathfinders.

Geophysics
Remote mapping tools

Understanding continues to
evolve more than 20 years after
the initial discovery.

Thankyou