The Highlands Pacific company announced today that it had regained 100% control and ownership of the prospective exploration tenement EL1312 on 14 April following the expiry of a decade-old option agreement held by Xstrata Frieda River Limited (a subsidiary of Glencore Xstrata plc).
“The project remains on a care and maintenance basis, however discussions with potential joint venture partners for the next stage of exploration programs are currently underway and it is hoped that these discussions are satisfactorily completed in the September quarter,” Highlands Pacific notes.
To date the company has drilled six of 17 targets with the majority of the targets producing shows of porphyry style copper-gold mineralization.
The current project Highlands Pacific is engaged in includes;
Olgal Prospect: 12 of 14 holes encountering copper and gold mineralisation with two significant successes.
Futik Prospect: 2 of 4 holes encountering copper and gold mineralisation.
Rattatat Prospect: showed narrow intercepts of porphyry copper style mineralisation.
Kum Kom Prospect: 1 of 2 holes encountered a significant intercept of skarn type alteration.