Mt. Kare Gold & Silver

Low Acquisition Cost

Acquisition cost of US$8.80/oz gold plus US$2.40/oz gold upon commitment to develop

Well Advanced

Over AU$60m already spent on project including over 73,000m of diamond drilling

Resource Rich

42.5Mt for 2.11Moz Au @ 1.54g/t, 18.4Moz Ag @ 13.48g/t & 15km SW of Barrick's 28Moz Porgera Mine

Attractive Terms

RTG to acquire 80% stake in Mt. Kare if and when current vendors are successful in securing EL from the MRA

Priority EL Applicants

Current vendors (Global Mining Group Limited & Tribune Mt. Kare Limited) are 1st & 2nd in line to acquire new exploration license

In-Country Networks

RTG Mining is a proven developer in frontier jurisdictions & maintains excellent networks in PNG

June 2013 Resource by AMC Consultants

Historic Resource Estimate

In 2011, Indochine Mining Limited exercised an option to acquire Mt. Kare and in 2013 announced a Historical (JORC 2004 compliant) Mineral Resource Estimate by AMC Consultants.

- 3 mineralised domains identified
- 0.5g/t Au cutoff grade
- 42 diamond holes
- 67,156m drilling
- ordinary kriging

Mt. Kare is located approximately 600km northwest of Port Moresby and 145km west of Mt. Hagen in the Enga Province of PNG and is situated 15km southwest of Barrick’s Porgera Gold Mine. The Porgera mine is the 3rd largest mine in PNG and is regarded as one of the world’s top ten producing gold mines.

Renowned for Abundant Mineral Wealth

Papua New Guinea is One of the

World’s Greatest Concentrations

of World-Class Copper & Gold Assets

Unique Geology

Interactive plate tectonic boundary (collision), two spatially & temporally distinct magmatic arcs, and high level intrusions & extrusive volcanism

Mt. Kare & Porgera

Mt Kare has many significant geological similarities to nearby Porgera Gold Mine including same host rocks, structures, mineralization types and age

The Region

Central & Southern Papua New Guinea hosts Ok Tedi, Porgera, Wafi-Golpu, Hidden Valley, Tolukuma, Mt Kare

Porgera Gold Mine

Gold production from the Porgera operation alone has totaled in excess of 20 Moz since its inception in 1990

Historic Extraction

More than 1 Million oz gold (with alluvials at 10g/t Au) is estimated to have been extracted by artisanal miners between 1988 and 1990

Mt. Kare is Advanced Stage with World Class Development Potential

High grade historical (JORC 2004) Mineral Resource published in 2013 that already contains in excess of 1.5 MOz @ 1.68 g/t in Measured and Indicated resource categories

Highly scalable project with significant exploration upside

  • Potential for rapid resource growth in high grade zones
  • Extensions and in-fill drilling
  • Porgera style targets at depth
  • Close to Porgera infrastructure including roads and powerlines
  • Conducive to progressive mine development


Million Invested


Metres Drilled


Diamond Holes


Million Ounces Gold

Significant Exploration Upside

  • Geological similarities between Mt. Kare deposit and nearby Porgera Gold Mine are well documented:
    • Same host rocks
    • Similar geological structures
    • Mineralisation types
    • Age of mineralisation
  • Mt Kare and Porgera 15km apart along the same NE trending continental scale transfer structure
  • Several Mt Kare ore zones are open along strike and at depth, including the Western Roscoelite Zone and Central Zone
  • Areas of consistent drill intercepts not included in the Historic Resource Estimate
  • Mt Kare is 500m higher than Porgera and only drilled to 350m, mineralisation at Porgera occurs over 1000m of vertical extent

Project Geology & Mineralization

  • Main landmass of PNG is a product of the interaction of the Australian craton with Pacific Ocean plate. The most recent interaction began about 5 million years ago resulting in the uplift, folding and thrust development seen today in the New Guinea Highlands
  • Gold mineralisation is predominantly within veins, the dominant style of vein fill being pyrite with sphalerite, galena, quartz, carbonate and silver sulphosalts
  • Mineralisation at Mt. Kare post-dates the intrusions, pervasive alteration, north-northeast-plunging folds and most of the movement on the major faults, including the major hanging wall fault
  • The Mt Kare epithermal deposit is hosted by Mesozoic and late tertiary sediments originally deposited as marine continental shelf sediments on the Australian craton

Mt. Kare

Initial Work Plan

Focus on community & stakeholder engagement, data and resource validation & environmental studies

US$3.0M to model orebody and complete feasibility:

  • Initial resource drill program & modeling
  • Mine design
  • Infrastructure optimization
  • Review of metallurgical work & plant design
  • Engineering
  • Capital expenditure & cash flow work

Any significant infill drilling requirements to be determined and result in a corresponding budget

Papua New Guinea

Stakeholder Engagement

RTG has proven mine development expertise and understands the importance of strong stakeholder & landowner engagement and alignment of interests to deliver a successful and sustainable project

RTG will seek to ensure both the landowners and PNG share in the success of the project, which will be a priority, with a 10% free carried interest for landowners

RTG has won 47 awards around the world for environmental, social and safety best practice on the 7 mines the team has developed

A key part of the process will be developing community livelihood programs that enhance the everyday life of the local communities including training, education and healthcare programs as well as law enforcement, security and enhancement of general infrastructure such as roads and buildings

RTG will seek to build social harmony at Mt Kare through strong community engagement and will seek to build upon the success of the landowner studies done to date

Land Investigation


Mt Kare (EL 1093) Land Investigation Report (LIR) signed in 2014 by the Governor of Enga Province, Grand Chief Hon. Peter Ipatas & co‐signed by the Provincial Administrator, Dr. Samson Amean