| June 21, 2010 Harmony Gold Corp. Announces Progress on the Lucky Shot project in Alaska | |
| Vancouver, BC, June 21, 2010 - Harmony Gold Corp. (the "Company") announces that it has just completed preliminary deposit modeling on the Coleman gold deposit near the Lucky Shot gold mine. The modeling takes into account infill drilling conducted in 2009 that confirmed the continuity of high grade gold mineralization in the Coleman deposit over a strike length of 240 meters and a down dip extent of 210 meters. Since 2005 and to date 175 drill holes totaling 31,800 meters of surface drilling have been completed on the Coleman block. The Company is proceeding with mine planning, a construction and development schedule and cash flow models on the preliminary positive results from the modeling on the Coleman deposit. A metallurgical sample has been submitted to SGS Mineral Services of Vancouver BC. The metallurgical testing plan is designed to meet the following objectives: Engineering Objectives
The Coleman deposit is the western "faulted off" extension of the Lucky Shot vein system. The vein system is part of the historic Willow Creek mining district. Gold was first discovered in the district in 1906 and the Lucky Shot mine was developed between 1924 and 1942. Over 650,000 ounces of gold has been produced from the district, the majority of the production was from gold bearing orogenic quartz veins averaging between 17 and 69 g/t Au. The Lucky Shot deposit was one of the three primary producers in the district producing 250,000 ounces of gold. These estimates are from historical records, do not meet NI 43-101 standards, and are included here for informational purposes only. The Lucky Shot deposit and known "faulted off" extensions along strike in either direction have a combined strike length of 2.4km, and a demonstrated down-dip extent of 700 meters. Immediate exploration targets are: 1) Extensions of the Coleman mineralized zone to the west, 2) down-dip extensions below the historical Coleman workings, 3) down-dip extensions below the productive Lucky Shot Mine, 4) the Murphy Zone, which is believed to be the down-dropped eastern extension of the Lucky Shot vein. Garth Kirkham, P.Geo., Principal of Kirkham Geosystems Ltd., has been engaged to prepare the revised resource estimate for the Coleman deposit. Revised figures should be available by early fall of 2010. The Lucky Shot project has been managed by Mr. William Burnett, CPG of Yukuskokon Professional Services, LLC since February 2009. Mr. Burnett is a qualified person as defined by NI 43-101, and has prepared and approved the information contained in this release. Craig Englesman adds that "the Company is very pleased with the developments at Lucky Shot and looks forward to a very productive year ahead." HARMONY GOLD CORP. Per: "Craig M. Engelsman" Craig Michael Engelsman President Telephone: 778 370 0519 E-mail: cengelsman@harmonygoldcorp.com NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. | |
You can view the Next News Releases item: Tue Jul 27, 2010, Harmony Gold Corp. Announces Progress on the Lucky Shot project in Alaska. You can view the Previous News Releases item: Tue May 18, 2010, Harmony Gold Corp. appoints William J. Burnett, C.P.G. as Project Manager for Lucky Shot Gold Project You can return to the main News Releases page, or press the Back button on your browser. |
