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Harmony intersects highly significant copper gold mineralisation in PNG exploration program

Johannesburg. 11 March 2015. Harmony Gold Mining Company Limited advises that it has intersected a highly significant zone of copper-gold mineralisation at the Kili Teke Exploration Prospect on one of its exclusively owned exploration licence areas in Papua New Guinea.

Initial diamond drill testing of the Kili Teke prospect is currently underway. Assays received from the first 4 holes have all returned broad porphyry style copper gold intercepts with mineralisation extending to surface. The mineralisation contains higher grade intervals of copper-gold mineralisation up to 202m @ 0.74% Cu and 0.57g/t Au. At this stage the mineralisation remains open through the drill pattern over 500m, and at depth. The following intercepts have been recorded:

  • KTDD004: 38m @ 0.28% Cu, 0.17 g/t Au from surface
  • KTDD005: 255m @ 0.24% Cu, 0.15 g/t Au from 146m
  • KTDD006: 259m @ 0.35% Cu, 0.26 g/t Au from 172m
  • KTDD007: 422m @ 0.55% Cu, 0.43 g/t Au, from 131m
  • Including    202m @ 0.74% Cu, 0.57g/t Au, from 137m

 “Our current resources are finite and it is essential to have a project pipeline that balances early-stage and more immediate prospects so as to replace reserves mined,” said Harmony’s Chief Executive Officer, Graham Briggs. “In an environment where there is very little being spent on exploration and with the paucity of new major copper and gold discoveries, the results coming from this grassroots prospect are very encouraging. Given the extent of the surface copper-gold geochemical footprint yet to be tested, there is potential to develop this find into a major copper-gold deposit similar to Golpu, OK Tedi or Frieda River which have resource cut-off grades of/around 0.2% Cu. New discoveries are one of the best avenues to create shareholder value.”

The above drill results are extracts from the exploration results. Please refer to Annexure 1 to the release for more detailed exploration results on Kili Teke, as required by SAMREC and The JORC Code 2012.

Competent Persons statement

The information in this announcement that relates to exploration results and other scientific and technical information are based on information compiled by Mr Mike Humphries. Mr Humphries is a full time employee of Harmony and a member of the Australian Institute of Geoscientists. Mr Humphries has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in The JORC Code 2012 and SAMREC. Mr Humphries consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

For more details contact:

Graham Briggs
Chief Executive Officer
+27 (0) 83 265 0274 (mobile)

Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)

11 March 2015

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

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