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Harmony Gold Corp. Announces Drill Program Results on Lucky Shot Property
Full Metal Minerals Ltd. Intersects 36.38 g/t Au over 7.3 Meters at Lucky Shot; Underground Exploration to Commence
Vancouver, BC, February 11, 2010 Harmony Gold Corp. (the "Company") and Full Metal Minerals Ltd. ("Full Metal") are pleased to announce assay results from an infill and step-out drilling program completed at the Lucky Shot Gold Property (the "Lucky Shot Property"), located 90 miles north of Anchorage, Alaska, which the Company has the option of earning a 60% interest in, as set out in its news release of November 17, 2009.
During September and October of 2009, 26 drill holes were completed totaling 4,200 meters of drilling.
The objective of the 2009 drilling program was to infill and expand the high-grade Coleman block of the Lucky Shot Shear zone with the goal of commencing an underground development and bulk sample program in Q2, 2010. Highlights include:
C09-152: 3.6 meters averaging 24.14 g/t Au
C09-153: 0.9 meters averaging 102.00 g/t Au
C09-158: 0.6 meters averaging 58.20 g/t Au
C09-169: 3.7 meters averaging 19.23 g/t Au
C09-171: 7.3 meters averaging 36.38 g/t Au
These results, coupled with previous drilling by Full Metal over the past several years, confirm the presence of high-grade gold/quartz mineralization within the Lucky Shot shear zone. Recent intercepts include hole C09-171, which encountered 7.3 meters averaging 36.38 g/t Au, including 1.9 meters averaging 125.48 g/t Au. Hole C09-153, was completed in an area of sparse drilling, approximately 50 meters up-dip of the historic Coleman block workings. This hole encountered 0.9 meters averaging 102.00 g/t Au.
The Lucky Shot shear zone is a shallow dipping structure hosted within a quartz diorite. Mineralization within the zone is comprised of 5 to 30% sheeted quartz veins, hosting visible gold, gold tellurides, and minor pyrite, arsenopyrite and tetrahedrite. The Lucky Shot shear is divided into four separate fault blocks, three of which were historically mined. Drilling since 2005 coupled with historically producing stopes has identified continuous gold mineralization over 2,400 meters along strike, and to 700 meters down dip along the Lucky Shot shear.
The purpose of the 2010 program is to: i) complete engineering studies, metallurgical testwork and environmental studies; ii) subject to a positive outcome construct underground access to the Coleman block; iii) complete additional surface drilling; and iv) collect and process a bulk sample to confirm the continuity of high-grade gold mineralization within the Lucky Shot shear.
A 200 ton per day mill is currently on the Lucky Shot Property. Subject to receiving final acceptance to the transaction with Full Metal and closing the concurrent financing (as described in the Companys news release of February 10, 2010), the Company intends to commence phase i) above in March 2010, and subject to positive results therefrom start site preparation for a development ramp shortly thereafter. The parties hope to begin construction to drive the exploration ramp to the Coleman Zone in late spring/early summer 2010. The Company and Full Metal intend to commence mining and processing the bulk sample in the spring of 2011.
The Lucky Shot Project is located in the historic Willow Creek Mining District (the "District"). Past-producing mines in the District are considered to be among the highest grade in the Northern Cordillera, with documented production from company records and The Alaska Department of Mines listed at over 620,000 ounces Au from multiple veins and shears, at an average grade of approximately 1.0 oz/ton Au; Full Metal has not audited these historic production figures, and they should not be relied upon. Prior to Full Metals 2005 exploration program, limited modern exploration has been performed in the District since the mine closures. Property infrastructure is excellent, with road access from Anchorage and close proximity to both rail and power. Camp and maintenance facilities are operated year-round.
A plan map showing drill hole locations and a table with hole orientation can be viewed on Full Metals website at Complete drill results are as follows:
Hole-ID
From (m)
To (m)
Length (m)
Au (g/t)
C09-147
148.6
150.4
1.8
1.33
165.6
166.7
1.1
5.91
C09-148
138.3
138.7
0.4
6.79
164.0
164.5
0.5
16.80
174.5
174.9
0.4
9.15
180.1
184.3
4.2
1.33
C09-149
186.8
187.2
0.4
2.01
C09-150
141.6
143.6
2.0
2.56
C09-151
138.4
140.7
2.3
7.61
including
138.4
138.8
0.4
36.30
C09-152
154.2
157.8
3.6
24.14
C09-153
160.4
161.3
0.9
102.00
C09-154
92.5
93.2
0.7
8.84
130.9
134.5
3.6
4.51
150.9
153.3
2.4
3.57
164.1
164.5
0.4
13.15
C09-155
166.6
167.0
0.4
4.85
C09-156
108.9
109.5
0.6
2.97
C09-157
118.9
120.5
1.6
2.15
C09-158
121.6
122.2
0.6
58.20
C09-159
128.9
129.6
0.7
6.33
C09-160
116.1
116.5
0.4
12.30
132.8
134.1
1.3
2.05
C09-161
121.8
122.8
1.0
4.12
C09-162
115.0
115.9
0.9
17.53
118.3
120.4
2.1
2.07
148.1
149.7
1.6
2.11
C09-163
129.6
130.5
0.9
18.47
138.6
139.3
0.7
3.25
C09-164
140.6
142.5
1.9
2.49
C09-165
142.1
142.6
0.5
1.58
C09-166
No Significant Intercepts
C09-167
141.7
142.9
1.2
4.13
C09-168
146.0
147.5
1.5
8.49
C09-169
128.1
131.8
3.7
19.23
including
129.5
130.8
1.3
50.35
C09-170
135.9
136.3
0.4
18.25
149.4
150.5
1.1
7.32
C09-171
130.7
138.0
7.3
36.38
including
130.7
132.6
1.9
125.48
C09-172
153.8