4 Nov 2009

PNG copper project expected to be huge says managing director

11:47 am on 4 November 2009

A copper project in Papua New Guinea is being touted as the next biggest copper-gold mining operation in the World.

Joint venture partners Highlands Pacific Limited managing director, John Gooding, tells the Post Courier the Frieda project, near the border of the Sandaun and East Sepik Provinces, will rank among the top 10 copper and gold projects in the World.

Highlands Pacific reported yesterday that a 978 metre deep hole at the Trukai deposit which significantly extends the depth of mineralisation and highlights Frieda's potential as one of the World's top 10 emerging copper gold projects.

Exploration drilling by Highlands joint venture partner Xstrata Copper was designed to test the depth extension of the known Frieda mineralisation as part of geotechnical and pit design work for the prefeasibility study due in mid 2010.

An updated mineral resource statement for Frieda is expected by the end of 2009.