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Friday, 4th March 2005 (3837 views)

The Kainantu gold development, owned by Highlands Pacific, has now extended its life with new resources of a further half a million ounces of gold.<br/><br/>New resources have come from the Kora deposit, which is thought to contain 820,000 ounces of the precious metal now.<br/><br/>Previously the site had resources of 300,000 ounces, according to AAP.<br/><br/>The development is situated in Papua New Guinea and the consistent geology means there are "excellent prospects" for further gold discoveries according to the mining firm.<br/><br/>Overall gold resources at the Kainantu project have risen to 1.77 million ounces of gold at a grade of 24 grams per tonne.<br/><br/>Highlands hopes first production will begin in the December quarter.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7943506"/>

 

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