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Highlands Pacific Ltd.
Summary
| Project: | Star Mountains | |
|---|---|---|
| Deposit: | Unfin, Fune | |
| Location: | Papua New Guinea | |
| Commodities: | Copper-Gold | |
| Date: | 6/8/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-6-2017: Highlands Pacific Ltd. announces an Exploration/Drilling Update report for its Unfin, Fune deposit at the Star Mountains project. JV with Anglo America - drilling results incl. 94m @ 0.17g/t Au, 0.58% Cu from 260m. Highlands Pacific Ltd (ASX:HIG | |
| Resources: | x | |
| CP/QP: | [Overall Report]: LD Queen (Internal) | |
| ABSTRACT: | Highlands Pacific Ltd (ASX:HIG) and its joint venture partner Anglo American are extending the current drilling campaign at the Star Mountains project in PNG, following encouraging results from recent drilling. Results have been received for the second diamond drill hole at the Unfin prospect and for the second hole and the upper 447m of the third hole at the Fune prospect. Assay resultsfor the first holes at each prospect were released in March. The latest results for the Fune holes demonstrate the presence of potentially significant copper-gold skarn mineralisation. The mineralisation seen in hole 003FUN17 is coincident with a multi-element soil anomaly and a significant conductive anomaly identified by an airborne ZTEM survey conducted in 2016 which helped to identify Fune as a highly prospective target. The presence of skarn mineralisation is significant in the context of porphyry copper-gold deposits in the New Guinea orogenic belt, as skarn mineralisation hosts a significant portion of the copper and gold endowment at both the giant Ok Tedi and Grasberg mines. Following the receipt of these positive results, the joint venture partners are currently planning to drill additional holes at Fune to further test the conductive ZTEM anomaly beyond the area of the main soil anomaly. The target is additional skarn zones and the associated copper-gold porphyry. At Unfin, the results for the second hole confirmed porphyry copper mineralisation, revealing alteration typical of phyllic or sericitic zone alteration in a porphyry copper system. Further drilling will be required to determine if higher grade mineralisation typically associated with the potassic alteration zone can be located. | |
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