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Highlands Pacific Ltd.
Summary
| Project: | Star Mountains | |
|---|---|---|
| Deposit: | Olgal | |
| Location: | Papua New Guinea | |
| Commodities: | Copper-Gold | |
| Date: | 2/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-2-2018: Highlands Pacific Ltd. announces a Resource Estimation report for its Olgal deposit at the Star Mountains project. Initial Mineral Resource for the Olgal deposit. Highlands Pacific (ASX:HIG) has declared a maiden Mineral Resource at its Star Mo | |
| Resources: | (Resource, Inf.): 210Mt @ 0.4% Cu, 0.4g/t Au for 0.84Mt Cu, 2.9Moz Au contained at project | |
| CP/QP: | [Resources]: Arnold Van der Heyden (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | Highlands Pacific (ASX:HIG) has declared a maiden Mineral Resource at its Star Mountains exploration project in Papua New Guinea, confirming the region as one of the most exciting and prospective exploration areas in PNG. Using a 0.3% copper cut-off grade, the deposit is estimated to contain 210 million tonnes grading 0.4% copper, for 840,000 tonnes of contained copper and 2.9 Moz contained gold Highlands Pacific commissioned independent consulting geologists H&S Consultants Pty Ltd (HSC) to complete a resource estimate for the Olgal copper-gold deposit. The Olgal resource estimate is based on data and assays from 23 diamond core drill holes at the prospect for a total of 8,949 metres. Samples lengths were generally 2m with the shortest sample being 0.6m and the longest 3.2m; sampling was done on sawn half core. All drill core samples were assayed at either ALS or Intertek Townsville using a HF-HNO3-HClO4 acid digest with HCl leach and ICP-AES finish for base metals and gold assay by 50 gram fire assay. Geological boundaries were used to limit the resource to the rocks above the thrust and to separate the primary mineralisation from the copper-leached oxide zone. Surface dimensions of the mineralisation are roughly 0.9km by 0.6km and extend at depth to the Olgal-Futik thrust roughly 800m below the surface. The holes were drilled since the mineralisation was discovered by Kennecott in 1972, with exploration efforts intensified over the past few years as Highlands Pacific and its former joint venture partner, Anglo American plc, conducted drilling campaigns at Olgal and other Star Mountains prospects. | |
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