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New significant copper-gold drill results at Harmony’s Kili Teke prospect
Harmony Gold Mining Company Ltd
Registration number: 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
(“Harmony” or “the company”)
New significant copper-gold drill results at Harmony’s Kili
Teke prospect
Harmony Gold Mining Company Limited (’Harmony’ or ‘the
Company’) is pleased to advise continuing exploration success
at its 100% held Kili Teke prospect in the Hela province in
Papua New Guinea (PNG).
A maiden Mineral Resource estimate for Kili Teke was declared
and announced in November 2015, comprising 128 million tonnes
at 0.4 % copper and 0.3 g/t Au (506,000 tonnes copper, 1.2
million ounces Au)1. The deposit contains two main areas of
higher-grade quartz stockwork related mineralisation. Drilling
completed since the release (10 holes / 6,820m) has focussed
on potential to expand these zones along strike and down dip,
with very encouraging results:
- New zones of near surface, stockwork related copper-gold
mineralisation developing within the current footprint:
KTDD027: 584.4m @ 0.52% Cu, 0.35 g/t Au from 4.6m
Including 287.4m @ 0.56% Cu, 0.44 g/t Au from 4.6m
(on section below)
- Depth extensions of porphyry related quartz vein
stockwork mineralisation confirmed in latest drilling:
KTDD022: 206m @ 0.59% Cu, 0.42 g/t Au from 482m
KTDD025: 376m @ 0.47% Cu, 0.29 g/t Au from 495m
- Results also include high-grade massive sulphide
chalcopyrite-bornite skarn mineralisation intersected at
depth:
KTDD025: 7.8m @ 12.98% Cu, 11.45 g/t Au from 920.2m
Harmony’s chief executive officer, Peter Steenkamp, commented:
“It is a rare phenomenon, in this day and age, to drill a 584
meter borehole and achieve grades averaging over 0.5 percent
copper and 0.35 grams per tonne gold from surface. Massive
sulphide lodes averaging 13% copper and 11.4 grams per tonne
gold are even rarer - which is what we are seeing from our
Kili Teke drill results.”
Drilling at the prospect continues with 2 drill rigs. A
revised mineral resource estimate incorporating the latest
drill results is planned for the September 2016 quarter.
“The latest drilling results support our belief that Kili Teke
has the potential to develop into a major new porphyry copper-
gold system. Developing a portfolio of world class copper-gold
assets in PNG - replacing ounces at a discovery cost of less
than US$10 per gold equivalent ounce - creates excellent long
term value for our shareholders,” Peter added.
To view figure 1, please refer to
https://www.harmony.co.za/our-business/exploration/kili-teke-
prospect.
¹ For more details refer to the press release “Maiden copper-gold resource
of 4 million gold equivalent ounces defined for Harmony’s Kili Teke
prospect” 24 November 2015 – available on https://www.harmony.co.za/our-
business/exploration/kili-teke-prospect.
For full results on the Kili Teke drilling information
referred to in this release, including JORC / SAMREC
disclosure requirements, please refer to the Annexure at
https://www.harmony.co.za/downloads/finish/91-files/1962-
annexure-13-april-2016
Competent Persons statement
The information in this report that relates to Exploration
Results and other scientific and technical information, is
based on information compiled by Mr Mike Humphries. Mr
Humphries is a full time employee of Harmony and a member of
the Australia 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 report 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
Tel: +27 (0)82 759 1775
Marian van der Walt
Executive: Corporate and Investor Relations
Tel: +27(0) 82 888 1242
Johannesburg, South Africa
13 April 2016
Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
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