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March 27, 2012
News Release
Sumitomo Metal Mining Co., Ltd.
Sumitomo Corporation
New Ore Deposit Identified in Pogo Gold Mine, Alaska, USA
Sumitomo Metal Mining Co., Ltd. (“SMM”, Headquarters: Minato-ku, Tokyo,
President and Representative Director: Nobumasa Kemori) is pleased to announce that
a new gold deposit has been identified during a recent exploration carried out with the
aim of acquiring additional deposits in the Pogo gold mine (Alaska, USA), which is
owned by SMM and Sumitomo Corporation (Headquarters: Chuo-ku Tokyo, President
and CEO: Susumu Kato) (Investment ratio: SMM 85% Sumitomo Corporation 15%).
The new deposit (named the “East Deep” deposit) is located northeast of the main Liese
deposit and contains approximately 1.283 million ounces (40 tonnes) of gold based on
the latest resource and reserve estimates for the Pogo mine (as of December 31st of
2011).
As a result of intensive exploration both surface and underground of the Pogo gold
mine after the commencement of production in 2006, the East Deep deposit (E1
orebody) was identified 1,000 feet (300m) northeast of the Liese gold deposit, which is
the main deposit currently subject to mining activities.
The latest resource and reserve estimates including the East Deep deposit as of
December 31st of 2011 show that the total resources and reserves of the Pogo gold mine
is 13.594 million short tons (12.332 million tonnes) with an average gold grade of 0.366
ounces per short ton (12.5 g/t) and a gold content of 4.973 million ounces (155 tonnes).
The development of new access drives to the E1 orebody is to be commenced this year
to accelerate the start of production at the East Deep deposit. In addition, drilling
program will be continued in 2012 to explore the extension of the East Deep deposit as it
is still open in the northeast, north, and west directions at this stage and holds the
potential for further additional ore.
With regard to the scale of production, the Pogo gold mine will maintain annual
current production level of 10 to 11 tonnes (planned production volume for 2011: 10.1
tonnes).
Address inquiries concerning this News Release to:
Sumitomo Metal Mining Co., Ltd.
Masashi Takahashi, Public Relations & Investor Relations Dept.
Tel: 03-3436-7705
Fax: 03-3434-2215
Sumitomo Corporation
Corporate Communications Department
Koji Furui
Tel: 03-5166-3100
Fax: 03-5166-6203
(Appendix)
1. Location of Pogo gold mine
POGODelta Junction
Anchorage
Fairbanks
北極圏
0 600km
3
POGODelta Junction
Anchorage
Fairbanks
北極圏
0 600km0 600km
3
2. Location map of Liese and East Deep deposits
Pogo Ck
Liese Ck
Rin
ger C
k
North C
k
1806000
1806000
1807000
1807000
1808000
1808000
1809000
1809000
1810000
1810000
1811000
1811000
1812000
1812000
1813000
1813000
1814000
1814000
1815000
1815000
1816000
1816000
1817000
1817000
1818000
1818000
38
18
00
0
38
19
00
0
38
19
00
0
38
20
00
0
38
20
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0
38
21
00
0
38
21
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0
38
22
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0
38
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0
38
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38
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38
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0
38
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38
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38
25
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38
26
00
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38
26
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0
³
0 1,000 2,000 3,000 4,000500Feet
Liese deposit
East Deep deposit