REG-Harmony Gold Mining: Statement re Golpu Drilling Results
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HARMONY GOLD MINING COMPANY LIMITED
Latest Golpu drilling results will have profoundly positive impact on project
resource base
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 tonnes (Mt) at high
grades of between 0.7% and 1.1% copper (Cu) and 0.5 to 0.7g/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_1i: 379m @ 0.88g/t Au and 1.05% Cu from 1062m
Including: 156m @ 1.09g/t Au and 1.48% Cu from 1149m
WR333i: 528m @ 0.70g/t Au and 1.41% Cu from 551m
Including: 187m @ 1.57g/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 outlining the schematic section through the Golpu deposit showing
recent drill intercepts, is available on the company's website
www.harmony.co.za.
I Full assay results have not been received.
ii Cautionary Note:. It is important to note that the potential
quantity and grade of this exploration target is conceptual in nature and is
expressed in 100% equity terms. A resource estimation is underway but at this
point there has been insufficient work to complete a Mineral Resource.
ends.
For more details contact:
Marian van der Walt
Executive: Corporate and Investor Relations
on +27 (0)82 888 1242
or
Esha Brijmohan
Investor Relations Officer
on +27 (0)82 759 1775
Corporate Office:
Randfontein Office Park
P O Box 2
Randfontein
South Africa 1760
T +27 (11) 411 2000
www.harmony.co.za
JSE: HAR
NYSE: HMY
NASDAQ: HMY
ISIN No.: ZAE000015228
END
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