Better results of the latest round included 2m at 200gpt, 8.5m at 18.7gpt and 2m at 14.4gpt, and consequently Kainantu’s inferred resource estimate has been upgraded to 1.78 million oz of gold.
The project covers 261sq.km of a known goldfield in the Eastern Highlands province of PNG. In June last year, Highlands formed a joint venture with Nippon Mining and Metals of Japan, which allows Nippon to earn a 50% stake in Kainantu by sole funding a $US3.5 million exploration program.
The Irumafimpa structure remains open at depth and along strike. Surface workings indicate that the mineralised zone could extend for a further 1500m and down dip. At this stage only 200m of the vertical potential has been tested.
