Exploration programme in Papua New Guinea – FY17 highlights and milestones

Advancement of the Wafi-Golpu project:

  • Special mining lease application submitted in August 2016
  • Completion of a targeted drilling programme has significantly improved the geotechnical understanding of relevant domains
  • Start of feasibility study update, including trade-off studies of deep-sea tailings placement, terrestrial tailings storage and other tailings management solutions, and selfgenerated on-site power supply
  • Collection of oceanographic data on the deep-sea placement of tailings
  • Selection of final block cave extraction levels and the mine production rate
  • Ongoing preparation of environmental impact study

Increased resource declared for Kili Teke prospect:

  • FY17 inferred mineral resource update:
    237Mt @ 0.3% copper, 0.24g/t gold and 168ppm molybdenum containing 802 000t copper, 1.81Moz of gold and 40 000t molybdenum

Consolidated exploration tenure in the Morobe Goldfield:

  • 100% of the contiguous tenement package surrounding the Hidden Valley mining lease included with the acquisition of Hidden Valley
  • 502km² of tenure centered on one of Papua New Guinea’s premier goldfields – encompasses the historic Wau Gold Mining Centre
  • Increased brownfield exploration focus – high-grade epithermal gold targets generated for drill testing as potential satellite deposits for Hidden Valley

Tenement rationalisation:

  • Harmony (100%) tenement holding increased 66% to 1 265km² (FY16: 764km²)
  • Joint venture (Harmony 50%) tenement holding declined by 50% to 495km² (FY16: 999km²)
  • EL1629 is held under an option to purchase by Pacific Niugini Minerals and who are also responsible for maintaining the joint venture tenement in good standing
  • Harmony continues to manage exploration on the portfolio tenement package on behalf of the exploration portfolio joint venture participants (ultimate parent companies: Newcrest 50%; Harmony 50%)

More detailed information on exploration and the progress made in FY17 is available in the exploration section of the Integrated annual report.