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Highlands Pacific Ltd.
Summary
| Project: | Frieda River | |
|---|---|---|
| Deposit: | Nena | |
| Location: | Papua New Guinea | |
| Commodities: | Copper-Gold-Arsenic-Antimony | |
| Date: | 11/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 27-11-2017: Highlands Pacific Ltd. announces a Resource Estimation report for its Nena deposit at the Frieda River project. JV - Mineral resource update for the Nena deposit. PanAust Limited (PanAust), as manager of the Frieda River Joint Venture, is plea | |
| Resources: | (Resource, I+I): 52Mt @ 2.13% Cu, 0.63g/t Au, 2000ppm As, 130ppm Sb at project | |
| CP/QP: | [Resources]: Shaun Versace (PanAust Ltd.) | |
| ABSTRACT: | PanAust Limited (PanAust), as manager of the Frieda River Joint Venture, is pleased to announce an updated Mineral Resource estimate for the Nena copper-gold deposit (‘Nena’) in Papua New Guinea (PNG). The Nena deposit is located approximately five kilometres (km) north-west of the Horse-Ivaal-Trukai, Ekwai and Koki (HITEK) copper-gold deposits that form the basis for the Frieda River Copper-Gold Project feasibility study. Nena is a copper-gold high-sulphidation epithermal deposit associated with the nearby HITEK porphyry-style mineralisation. The Nena deposit is divided into two zones, a sulphide zone and an outcropping highly weathered gold cap zone. The Mineral Resource estimate is based on data from 211 diamond core drill holes totalling approximately 46,900 metres (m) and builds on the work performed by previous owners of the Frieda River Copper-Gold Project. Two additional variables (iron and sulphide sulphur) have been incorporated in the estimate to allow metallurgical modelling. The Nena sulphide Mineral Resource supersedes the previous estimate prepared by Glencore-Xstrata. The Nena gold cap Mineral Resource estimate is newly reported The Frieda River Copper-Gold Project is held by the Frieda River Joint Venture, an unincorporated joint venture between Frieda River Limited (FRL), a wholly owned subsidiary of PanAust, and Highlands Frieda Limited, a wholly owned subsidiary of Highlands Pacific Limited (Highlands). Frieda River Limited manages the Project and holds an 80 per cent interest; Highlands holds the remaining 20 per cent interest. | |
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