Harmony Gold Mining reported in early March 2011 the latest drilling at the Wafi-Golpu copper-gold project in Papua New Guinea has intersected the highest mineralization values to date, including 883 m grading 2.15% copper and 2.23 g/mt gold, starting at a depth of 913 m, including 628 m grading 2.82% copper and 3.06 g/mt gold, starting at a depth of 1,043 m. This intercept correlates with a zone of chalcopyrite and bornite mineralization in the porphyry and surrounding metasediment and extends the known porphyry mineralization significantly outside of the current resource shell. Mineralization is open at depth and to the north of the intercept. The resource target for the Walfi-Golpu project has been set at 30 million oz of gold and 8 million mt of copper.
The Wafi-Golpu project is owned and operated by Morobe Mining Joint Ventures, a 50:50 joint venture of Harmony and Newcrest Mining. The joint venture started up its Hidden Valley open-pit gold-silver mine 60 km south of Wafi-Golpu in 2010 (E&MJ, November 2010, p. 16).