HAR - Harmony Gold Mining Company Ltd - Latest Golpu drilling results will have Release Date: 22/04/2010 11:00:02 Code(s): HAR
HAR - Harmony Gold Mining Company Ltd - Latest Golpu drilling results will have
profoundly positive impact on project resource base
Harmony Gold Mining Company Ltd
Incorporated in the Republic of South Africa
Registration number: 1950/038232/06
Share code: HAR
LATEST GOLPU DRILLING RESULTS WILL HAVE PROFOUNDLY POSITIVE IMPACT ON PROJECT
Johannesburg. Thursday, 22 April 2010. Harmony Gold Mining Company Limited
(Harmony) today announced additional significant high grade drill intercepts
from its 50:50 Morobe Mining Joint Venture in Papua New Guinea (PNG).
Harmony CEO Graham Briggs says: "These results, together with those released in
January 2010, will have a profoundly positive impact on the resource base of the
project. The drill programme at Golpu is testing an exploration target in the
range of 500 to 800 million tones (Mt) at high grades of between 0.7% and 1.1%
copper (Cu) and 0.5 to 0.7 g/t gold (Au) for 8 to 18 million ounces (Moz) of
gold and 3.5 to 8.8 Mt of copper. This target includes the current resource.
Golpu could develop into one of the most significant copper-gold projects in PNG
with a possible size potential of 13 Moz Au and 6.5 Mt Cu, putting it on a scale
similar to other major copper-gold projects like OK Tedi and the historic mine
in Bougainville. This is a very exciting possibility for investors."
New drill intercepts include:
WR331W_1(i): 379m @ 0.88 g/t Au and 1.05% Cu from 1062m
Including: 156m @ 1.09 g/t Au and 1.48% Cu from 1149m.
WR333(i): 528m @ 0.70 g/t Au and 1.41% Cu from 551m.
Including: 187m @ 1.57 g/t Au and 3.16% Cu from 892m.
The mineralisation which is associated with diorite porphyry is located around
the margin and to the northwest of the main Golpu orebody.
Mineralisation remains open to the northwest, to the south and at depth.
Drilling to realise the full potential of the system is ongoing. In particular,
the high-grade copper gold mineralisation in WR333 (187m @ 1.57 g/t Au and 3.16%
Cu from 892m) is open along strike to the northwest and at depth.
The diagram indicating the schematic section through the Golpu deposit showing
recent drill intercepts is available on the Harmony website - www.harmony.co.za.
For more details contact:
Marian van der Walt
Executive: Corporate and Investor Relations
On +27 (0)82 888 1242
Investor Relations Officer
On +27 (0)82 759 1775
Randfontein Office Park
PO Box 2
South Africa 1760
T: +27 (0)11 411 2000
J.P. Morgan Equities Limited
Date: 22/04/2010 11:00:02 Supplied by www.sharenet.co.za
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