Superb exploration results from Harmony's Kili Teke prospect
Published on 30 July 2015
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Drilling continues to return significant intervals of porphyry copper-gold mineralisation:
- KTDD013: 186m @ 1.02% Cu, 0.72 g/t Au from 256m
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Copper gold mineralisation (defined by a 0.2% copper envelope) currently outlined over 600m of strike, in excess of 200m wide, and extends 700m below surface
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More upside potential exists
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Early drill intercept grades and intervals highly encouraging in context with other porphyry copper gold deposits in the region
Johannesburg. Thursday, 30 July 2015. Harmony Gold Mining Company Limited ('Harmony' or 'the Company') is pleased to advise that additional drilling results from its 100% owned exploration licence at its Kili Teke prospect in the Hela province in Papua New Guinea (PNG) continues to return porphyry style mineralisation with highly significant copper gold intercepts. More upside potential exists with mineralisation being open at depth and along strike, and drilling to scope out the extent and geometry of the system remains ongoing.
"The latest drilling results from Kili Teke are extremely encouraging and confirm that this asset is yet another fantastic copper gold find by Harmony in Papua New Guinea. The mineralised footprint is growing as the drilling progresses, and the grades we are seeing are similar to OK Tedi and Frieda River - with zones of higher grade stockwork mineralisation and intervals of mineralised skarn breccia developing within the broader envelope. In a world where new discoveries are rare, we are encouraged by the prospect that Kili Teke could well develop into another major copper-gold discovery" said Harmony's Chief Executive Officer, Graham Briggs.
The footprint of the mineralised zone (defined by the 0.2% copper envelope) has currently defined over 600m of strike, in excess of 200m wide, and extends 700m below surface. Refer to the figure below illustrating the oblique long section, showing the footprint of the 0.2% copper envelope:
Kili Teke's early exploration drill results including KTDD013 and KTDD007: 422m @ 0.55% Cu, 0.43 g/t Au (released on 11 March 2015), already compares favourably with deposit grades outlined for Frieda River (resources of 2.77Bt @ 0.47% Cu, 0.23 g/t Au*) and Ok Tedi (resources of 871Mt @ 0.44% Cu, 0.54 g/t Au*) in PNG.
* Data sourced from company websites
Drilling completed since the previous release, comprises of five boreholes for a total of 3 550.3 meters (KTDD009-KTDD013). Significant intercepts include:
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KTDD009:
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226m @ 0.24% Cu, 0.38 g/t Au from 124m,
Including: 76m @ 0.37% Cu, 0.54g/t Au from 262m
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KTDD010w1:
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343.9m @ 0.33% Cu, 0.19 g/t Au from 529m
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KTDD011:
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562m @ 0.23% Cu, 0.17 g/t Au from 208m
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KTDD012:
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448m @ 0.37 % Cu, 0.27 g.t Au from 94m,
Including: 162m @ 0.43 % Cu, 0.36 g/t Au from 150m
Including: 104m @ 0.51% Cu, 0.3 g/t Au from 420m
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KTDD013:
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480m @ 0.63% Cu, 0.44 g/t Au from 90m (partial result)
Including: 319m @ 0.79% Cu, 0.57 g/t Au from 166m
Including: 186m @ 1.02% Cu, 0.72 g/t Au from 252m
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Note: m: meters; Cu: copper; Au: gold. Full drill results are outlined in the annexures attached to this release.
The high-grade intercept in KTDD013 (186m @ 1.02% Cu, 0.72 g/t Au from 252m) correlates with intervals of intense quartz vein stockwork with disseminated and veinlet chalcopyrite and bornite, developed within potassic altered hornblende diorite (figure 6). The occurrence of bornite (Cu5FeS4) as part of the copper sulphide assemblage is highly significant, indicating a potential vector to the higher temperature, higher-grade core of the system. This mineralisation in hole KTDD013, together with intercepts in hole KTDD007 (202m @ 0.74% Cu, 0.57 g/t Au) and KTDD012 outline a zone of higher grade mineralisation developing within the broader 0.2% copper shell, which remains open off the grid to the north.
The above results are extracts from the full exploration results which may be viewed at https://www.harmony.co.za/downloads/finish/91-files/1572-kili-teke-annexure. The full results include Figure 1 (Regional geological setting showing EL2310 and the Kili Teke prospect locations) and Figure 2 (Plan view of drill holes showing footprint of the 0.2% copper envelope) and Figures 3,4,5,6 and Annexure 2 for more detailed exploration results on Kili Teke, as required by SAMREC and The JORC Code 2012.
Competent Persons statement
The information in this announcement that relates to exploration results and other scientific and technical information are based on information compiled by Mr Mike Humphries. Mr Humphries is a full time employee of Harmony and a member of the Australian Institute of Geoscientists. Mr Humphries has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in The JORC Code 2012 and SAMREC. Mr Humphries consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.
Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)
Henrika Ninham
Investor Relations Manager
+27 (0) 82 759 1775 (mobile)