HAR - Harmony Gold Mining Company Ltd - Press release: spectacular drill
hole results at Wafi- Golpu
Harmony Gold Mining Company Ltd ("Harmony")
Incorporated in the Republic of South Africa
Registration number: 1950/038232/06
Share code: HAR
SPECTACULAR DRILL HOLE RESULTS AT WAFI- GOLPU
Johannesburg. 3 March 2011. Harmony Gold Mining Company Limited (Harmony)
is pleased to announce that the latest drill hole results at its Wafi-
Golpu project (50% held by Harmony) have provided the highest
mineralisation values to date.
In October 2010, Harmony reported on drilling of the Wafi Golpu deposit,
which extended the mineralisation beyond the porphyry copper-gold resource
of 16Moz of gold and 4.8Mt of copper. In January 2011 we advised that
further drilling has extended the deposit. The latest drilling shows even
WR377*: 883m @ 2.15% Cu and 2.23g/t Au (5.33g/t Au equivalents**) from
913m including 628m @ 2.82% Cu and 3.06g/t Au (7.13g/t Au
equivalents**) from 1043m
The intercept correlates with a zone of chalcopyrite and bornite
mineralisation in the porphyry and surrounding metasediment. This hole
extends the known porphyry mineralisation significantly outside the current
resource shell. Mineralisation is open at depth and to the north of this
This intersection continues to support our Exploration Target of 30 Million
ounces of gold and 8 Million tonnes of copper.
"Drilling at the Wafi-Golpu project continues to be successful. The latest
results confirm that this deposit is truly a world-class discovery", says
Harmony`s Chief Executive Officer, Graham Briggs.
Note: The Measured and Indicated Mineral Resources are inclusive of those
Mineral Resources modified to produce the Ore Reserves. The estimates of
Ore Reserves and Mineral Resources in this statement were prepared in
accordance with the standards set out in the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves - The
JORC Code" (December 2004) as published by the Joint Ore Reserve Committee
of the Australian Institute of Mining and Metallurgy, Australian Institute
of Geoscientists and Minerals Council of Australia (JORC) The JORC Code is
the accepted reporting standard for the Australian Stock Exchange (ASX).
The Exploration Results, Mineral Resources and Ore Reserves in the summary
tables are based on information compiled by Greg Job who is a corporate
member of the Australian Institute of Mining and Metallurgy and who has
relevant experience of a `competent person` as defined by the code for
reporting of Mineral Resources and Ore Reserves in relation to the
mineralisation being reported on and consents to the inclusion in the
report of the matters based on his information in the form and context in
which it appears. Greg Job is a full-time employee of Harmony Gold Mining
* Maps indicating these drill holes can be found on the Harmony website.
** Gold equivalents calculated using a gold price of US$ 950/oz and a
copper price of US$2.00 lb and assuming 100% recovery for all metals.
For more details contact:
Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)
Randfontein Office Park
P O Box 2
South Africa 1760
T +27 (11) 411 2000
J.P. Morgan Equities Limited
Date: 03/03/2011 13:29:00 Supplied by www.sharenet.co.za
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