UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 UNDER THE SECURITIES
EXCHANGE ACT OF 1934
For
26 January 2010
Harmony Gold Mining Company
Limited
Randfontein Office Park
Corner Main Reef Road and Ward Avenue
Randfontein, 1759
South Africa
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-
F or Form 40-F.)
Form 20-F X
Form 40-F
(Indicate by check mark whether the registrant by
furnishing the information contained in this form
is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.)
Yes
No X
Issued by Harmony Gold
Mining Company Limited
26 January 2010
For more details contact:
Marian van der Walt
Mining Company Limited
26 January 2010
For more details contact:
Marian van der Walt
Executive: Corporate and
Investor Relations
on +27 (0)82 888 1242
or
Esha Brijmohan
Investor Relations Officer
on +27(0)82 759 1775
Investor Relations
on +27 (0)82 888 1242
or
Esha Brijmohan
Investor Relations Officer
on +27(0)82 759 1775
Corporate Office:
Randfontein Office Park
P O Box 2
Randfontein
South Africa 1760
T +27 (11) 411 2000
Randfontein Office Park
P O Box 2
Randfontein
South Africa 1760
T +27 (11) 411 2000
www.harmony.co.za
JSE: HAR
NYSE: HMY
NASDAQ: HMY
ISIN No.: ZAE000015228
NASDAQ: HMY
ISIN No.: ZAE000015228
EXCELLENT DRILLING RESULTS AT GOLPU WEST SPELLS EXCITEMENT FOR
HARMONY’S EXPLORATION ACTIVITIES IN PNG
HARMONY’S EXPLORATION ACTIVITIES IN PNG
Johannesburg. Tuesday, 26 January 2010.
Harmony Gold Mining Company
Limited (Harmony) is pleased to advise that encouraging results were achieved from
recent drilling conducted on the Golpu West prospect, as part of the company’s
exploration programme in Papua New Guinea (PNG).
Limited (Harmony) is pleased to advise that encouraging results were achieved from
recent drilling conducted on the Golpu West prospect, as part of the company’s
exploration programme in Papua New Guinea (PNG).
Golpu West is located off the western margin of the Golpu orebody and entirely
outside of the existing resource limits. Drilling to date has defined approximately 160
metres of strike and the high-grade mineralisation remains open in all directions.
outside of the existing resource limits. Drilling to date has defined approximately 160
metres of strike and the high-grade mineralisation remains open in all directions.
Results of the significant new drill intercepts include:
WR321:
331m @ 0.51 g/t Au & 0.93 % Cu from 694m
Including:
155m @ 0.88 g/t Au & 1.51% Cu from 868m
WR327A:
478.4m @ 0.85 g/t Au & 1.36 % Cu from 506m
Including:
155m @ 1.47 g/t Au & 2.29% Cu from 691m
WR328:
597m @ 0.57 g/t Au & 0.96 % Cu from 399m
Including:
198m @ 1.13 g/t Au & 1.88 % Cu from 788m
The Wafi-Golpu project area is located in the Morobe Province of PNG and is part of
Harmony’s 50/50 Joint Venture with Newcrest Mining Limited of Australia.
Harmony’s 50/50 Joint Venture with Newcrest Mining Limited of Australia.
The high grade portions of copper-gold intercepts are coincident with stockwork
veined and altered diorite porphyry. The porphyry is biotite altered, variably silicified
and veined, and contains abundant chalcopyrite as fine disseminated sulphide. A
halo of lower grade copper-gold mineralisation surrounds porphyry and comprises a
stockwork vein network of laminated quartz-magnetite-chalcopyrite veins. Stockwork
vein intensity is best developed at the diorite porphyry contact in the adjacent
metasediments and gradually decreases away from the contact.
veined and altered diorite porphyry. The porphyry is biotite altered, variably silicified
and veined, and contains abundant chalcopyrite as fine disseminated sulphide. A
halo of lower grade copper-gold mineralisation surrounds porphyry and comprises a
stockwork vein network of laminated quartz-magnetite-chalcopyrite veins. Stockwork
vein intensity is best developed at the diorite porphyry contact in the adjacent
metasediments and gradually decreases away from the contact.
The tenor and continuity of the mineralisation is particularly encouraging. The
average gold and copper grades of the Golpu West intercepts are significantly higher
than the main Golpu porphyry, which for comparison averages 0.65 g/t Au and 1.4%
copper. The current Golpu resource is 163 Mt @ 0.6 g/t gold and 1.1% copper for
2.93 Moz of gold and 1.76 million tonnes of copper.
average gold and copper grades of the Golpu West intercepts are significantly higher
than the main Golpu porphyry, which for comparison averages 0.65 g/t Au and 1.4%
copper. The current Golpu resource is 163 Mt @ 0.6 g/t gold and 1.1% copper for
2.93 Moz of gold and 1.76 million tonnes of copper.
The drilling has also intersected near surface supergene copper-gold mineralisation
including:
including:
WR316:
24m @ 0.6 g/t Au & 0.54% Cu from 82m
WR327A:
22m @ 0.55 g/t Au & 0.9% Cu from 175m
Harmony’s Chief Executive Officer, Graham Briggs says, “We are thrilled with the outcome of the drilling results at
Golpu West. The results are very encouraging and highlight the fact that the Golpu system is poorly constrained at
depth. Excellent potential exists for additional mineralised intrusions and/or structural repetitions around the margins.”
Golpu West. The results are very encouraging and highlight the fact that the Golpu system is poorly constrained at
depth. Excellent potential exists for additional mineralised intrusions and/or structural repetitions around the margins.”
The way forward and concept studies
Drilling to scope out the geometry and full extent of the new mineralised zone is continuing, with three exploration drill
rigs. Two additional deep capacity rigs will arrive in mid-February to accelerate the work programme. It is expected
that this drilling will significantly expand the current Golpu resource.
rigs. Two additional deep capacity rigs will arrive in mid-February to accelerate the work programme. It is expected
that this drilling will significantly expand the current Golpu resource.
The 2007 Golpu pre-feasibility study contemplated a block cave operation that would mine 100 million tonnes of ore
and produce 1.7 million ounces gold and 1.0Mt copper over a 10 year life of mine. Per the pre-feasibility study the
operation would have a low cash cost of approximately US$0.54/lb Cu (or $300/ oz Au equivalent) but high capital
expenditure of US$1.3 billion and a maximum cash out of US$1.0 billion. It was considered that a resource upgrade or
significant change in upfront capital would be the most likely means to increasing the margin and lowering the risk
profile for a favourable development decision.
and produce 1.7 million ounces gold and 1.0Mt copper over a 10 year life of mine. Per the pre-feasibility study the
operation would have a low cash cost of approximately US$0.54/lb Cu (or $300/ oz Au equivalent) but high capital
expenditure of US$1.3 billion and a maximum cash out of US$1.0 billion. It was considered that a resource upgrade or
significant change in upfront capital would be the most likely means to increasing the margin and lowering the risk
profile for a favourable development decision.
The Golpu West drill results outline potential for a step-change impact on the minable resource base. This would
provide a key driver to fundamentally alter the economics of the project.
provide a key driver to fundamentally alter the economics of the project.
In addition to resources, other aspects of the concept study, which may change significantly from previous work
include:
include:
1.
Reduced upfront infrastructure capital through advances caving technology, and staged development options
2. Geo-metallurgical solution for treatment of high sulphidation ore from the Wafi A,B and Link zones
2. Geo-metallurgical solution for treatment of high sulphidation ore from the Wafi A,B and Link zones
The current schedule for completion of the new resource model and progressing of the concept study is June 2010.
Below is an outline showing drilling results in relation to existing resources in the region.
* Refer to Harmony website for July 2009
resource statement
resource statement
www.harmony.co.za
Ends.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated:
January 26, 2010
Harmony Gold Mining Company Limited
By:
/s/
Hannes Meyer
Name:
Hannes Meyer
Title: Financial Director