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WRE-Harmony Gold Joint Venture

  • Joint Venture (JV) agreement signed with Harmony Gold (South Africa, Free State Province) on Sep’14 adjacent to Target Mine operations
  • JV Equity: WRE: 65% / Harmony: 35%
  • Significant JORC gold and uranium resource currently being compiled
  • Mining studies commenced
  • Significant infrastructure available at Target Mine
  • High grade Basal, B and EA reefs were intersected in underground boreholes
  • Depth of gold reefs: 1 400 – 2 200 mbs
  • Targets: Multiple gold reefs
Item
Details
Location
Witwatersrand Basin, South Africa

Area
9.5km²

Prospecting Right
All commodities, except coal

Description

Underground operations with multiple gold reef targets
Steeply-dipping to flat lying reefs


Adjacent Infrastructure

Harmony Gold’s Target Mine (JSE:HAR)
Mechanised and conventional mining is applied on the Elsburg Reefs
Annual production of about 150koz gold at 4.3g/t
Spare capacity available for JV resources


Project Commodities
Gold and Uranium

A full Scoping Study has been undertaken and resulted in the development of a mining strategy whereby the JV gold deposit is mined and extracted using Harmony's installed and underutilised infrastructure. [pl_button type="btn-orange" link="/ejv-project-summary" target="blank"]View the full Project Summary[/pl_button]
Overall Gold Resource Tabulation
TOTAL
Category Tonnes Au(g) Au(oz) Au(g/t)
1 Measured 261,001 4,316,842 138,787 16.54
2 Indicated 18,311,646 151,940,479 4,884,919 8.30
3 Inferred 21,610,167 201,033,890 6,463,283 9.30
Grand Total 40,182,814 357,291,212 11,486,990 8.89
Overall Uranium Resource Tabulation
TOTAL
Category Tonnes U3O8(kg) U3O8(lb) U3O8(kg/t)
Inferred 9,058,755 4,163,392 9,178,697 0.46
Grand Total 9,058,755 4,163,392 9,178,697 0.46
[pl_button type="btn" link="/overall-gold-and-uranium-results" target="blank"]View the full Overall Gold and Uranium Results[/pl_button]