Highlands eyes Ok Tedi opportunity

HIGHLANDS Pacific managing director John Gooding has flagged that the maiden resource for its exciting Star Mountains copper-gold project in PNG could be unveiled in 2013. The explorer even aims to supply ore to the Ok Tedi mine 25km away.
Highlands eyes Ok Tedi opportunity Highlands eyes Ok Tedi opportunity Highlands eyes Ok Tedi opportunity Highlands eyes Ok Tedi opportunity Highlands eyes Ok Tedi opportunity

In May the explorer announced a giant drilling result of 596m at 0.61% copper and 0.85 grams per tonne gold from just 24m down the hole at the Olgal prospect when using a 0.2% copper cut-off.

The Olgal drilling campaign struck copper-gold intersections in 12 out of the 14 holes and drilling is underway at the Rattata and Pad 48 prospects 3km away.

Highlands aims to drill a $US8-10 million budgeted 16 holes over six target areas by the end of the financial year.

Gooding revealed the Ok Tedi mine, which is 25km north of the project, is a key part of its plans for the project.

"Our strategy for Star Mountains is simple, to identify multiple near surface copper gold deposits of modest scale - 100-200 million tonnes - which can be easily mined and make a meaningful difference to the production options for the existing OK Tedi process plant, which we believe by mid-decade may have spare capacity," he said.

"To this end we will seek to hold discussions with Ok Tedi Mining Limited during 2012-13 on the potential for collaboration and possible studies."

loader
  • NEW: Digital version of PNG Report magazine - View here
  • Porgera: Barrick-PNG talks go on - Read more
  • Follow the companies investing in the PNG market - Read more