Mt Kare

Gold/Silver Resource - Papua New Guinea

Papua New Guinea (PNG), has the world's greatest concentration of world-class gold and copper deposits. The Mt Kare deposit lies 15 kilometres southwest of Barrick's 28 million ounce Porgera gold mine, which produces over 500,000 ounces of gold per year.

Geologically the Mt Kare deposit shares many similarities with the nearby Porgera gold mine, with the same host rocks, similar geological structures, mineralisation types and the same age of mineralisation. This indicates the large potential for growth in the current Mt Kare resource. Porgera is one of the world's top 10 gold mines, with over 500,000 oz/yr production for over two decades, and has developed significant infrastructure, including roads and power lines, nearby to Mt Kare.  Porgera started as a high grade underground mine and later developed a major open cut operation, now more than 500 metres deep.

The Mt Kare projects' total Mineral Resource is 43 Mt at 1.5 g/t Au for 2.1 Moz Au, 18 Moz Ag or a 2.5 million ounce gold equivalent, with nearly 75% in the higher confidence Measured and Indicated category, based on 454 diamond drill holes (73,639 m), as at July, 2013.

Mt Kare Project showing high grade zones