A 14-hole diamond core drill program has been completed at Highlands Pacific’s Olgal prospect within the Star Mountains copper-gold project in Papua New Guinea’s western province.

The company says copper-gold intersections were encountered in 12 of 14 holes, with the best intersection confirmed in the last hole of 600 metres @ 0.61% copper and 0.85 grams/tonne gold from 24 metres below the surface.

Highlands Pacific’s managing director John Gooding says, “With more drilling this could become a maiden resource, and that is something we may return to in 2013. Our current focus is to test multiple high priority targets with the goal of identifying the source of this copper within a potential porphyry cluster.”

He says the company’s strategy for Star Mountains is to identify near surface copper-gold deposits of between 100-200 million tonnes that can be easily mined to make a contribution to the production options for the Ok Tedi processing plant, which is about 20km south.

“We will seek to hold discussions with Ok Tedi Mining Limited during 2012-2013 on the potential for collaboration and possible studies,” says John Gooding.

Highlands Pacific will spend the next 6-12 months testing the multiple targets to prioritize its efforts. A US$10 million, 16-hole program is planned to cover 6500 metres across six targets.

The Star Mountains licence area hosts the Nong River, Mt Scorpion and Tifalmin prospects which lie along the highly prospective New Guinea Orogenic belt renowned for the already established world-class Grasberg, Frieda, Ok Tedi and Porgera deposits.

www.highlandspacific.com

Resource Center Whitepapers, Videos, Case Studies

Conferences & Events

No events