Wrap Text
Superb exploration results from Harmony’s Kili Teke prospect
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
(“Harmony” and/or “the Company”)
Superb exploration results from Harmony’s Kili Teke prospect
• Drilling continues to return significant intervals of porphyry
copper-gold mineralisation:
- KTDD013: 186m @ 1.02% Cu, 0.72 g/t Au from 256m
• 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
• More upside potential exists
• Early drill intercept grades and intervals highly encouraging in
context with other porphyry copper gold deposits in the region
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 in the
release on https://www.harmony.co.za/investors/news-and-events/company-
announcements-2/announcements-2015 illustrating the oblique long
section and 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:
KTDD009: 226m @ 0.24% Cu, 0.38 g/t Au from 124m,
Including: 76m @ 0.37% Cu, 0.54g/t Au from 262m
KTDD010w1: 343.9m @ 0.33% Cu, 0.19 g/t Au from 529m
KTDD011: 562m @ 0.23% Cu, 0.17 g/t Au from 208m
KTDD012: 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
KTDD013: 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
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.
For more details contact:
Henrika Ninham
Investor Relations Manager
On +27 (0)82 759 1775
Marian van der Walt
Executive: Corporate and Investor Relations
Tel: +27 (0)82 888 1242 (mobile)
Johannesburg, South Africa
30 July 2015
Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
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