-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Nx9zUnYvu1kpW5C+uH66JSbEFmEZnBg2FpYst1INJJEEYAlv6A7/r8MgAMzjIeq4 WfXikuIbxXZ3maSerrLesg== 0000831259-96-000008.txt : 19960930 0000831259-96-000008.hdr.sgml : 19960930 ACCESSION NUMBER: 0000831259-96-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960918 ITEM INFORMATION: Other events FILED AS OF DATE: 19960927 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: FREEPORT MCMORAN COPPER & GOLD INC CENTRAL INDEX KEY: 0000831259 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 742480931 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09916 FILM NUMBER: 96636053 BUSINESS ADDRESS: STREET 1: 1615 POYDRAS STREET CITY: NEW ORLEANS STATE: LA ZIP: 70112 BUSINESS PHONE: 5045824000 FORMER COMPANY: FORMER CONFORMED NAME: FREEPORT MCMORAN COPPER COMPANY INC DATE OF NAME CHANGE: 19910114 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 18, 1996 FREEPORT-McMoRan COPPER & GOLD INC. Delaware 1-9916 74-2480931 (State or other (Commission (IRS Employer jurisdiction of File Number) Identification incorporation or Number) organization) 1615 Poydras Street New Orleans, Louisiana 70112 Registrant's telephone number, including area code: (504) 582-4000 Item 5. Other Events. The following news release was issued by Freeport-McMoRan Copper & Gold Inc. on September 18, 1996: FREEPORT-McMoRan COPPER & GOLD . INITIATES DELINEATION DRILLING OF THE KUCING LIAR PROSPECT . UPDATES EXPLORATION ACTIVITIES NEW ORLEANS, LA., September 18, 1996 -- Freeport-McMoRan Copper & Gold Inc. (FCX) announced today that drilling activities at the Kucing Liar prospect within the "Golden Triangle" area at P.T. Freeport Indonesia Company's (PT-FI) Ertsberg-Grasberg District have moved from the exploration phase to the delineation phase. Early results confirm the continuity of extensive skarn-type copper/gold mineralization between drill holes. Delineation drilling of the Kucing Liar mineralization utilizing 6 diamond drill rigs is underway from underground sites in the Amole tunnel and the new northwest-trending Kucing Liar/Lembah Tembaga tunnel. Underground drill sites are 50 to 135 meters apart allowing multiple holes, known as fans, to be drilled from each site across a portion of the 1.5 kilometer long Kucing Liar mineralized zone which, based on current information, could represent a 250 million metric ton geological resource at an average grade of greater than 2 percent copper equivalent. To date, 15 delineation holes have been, or are being, drilled over a 500 meter interval, 1/3 of the 1.5 kilometer mineralized zone. Assay results from 8 holes have been received and visual estimates from all 15 holes suggest continuity between holes and fans. Following are the assay results of the 8 holes. Hole Interval %Cu g/tAu %Cu equiv ------ -------- ---- ----- --------- KL16-1 401.1m 2.00 1.90 3.24(in progress) KL18-1 266.2m 1.02 1.06 1.71 -2 264.0m 1.02 1.41 1.94 -3 122.5m 1.11 1.55 2.12 -6 45.3m 0.83 0.84 1.38 KL20-1 176.0m 0.93 1.02 1.59 KL23-1 48.0m 1.79 1.12 2.52 KL23-2 67.0m 1.01 1.14 1.75(in progress) The Kucing Liar cross-section from the KL18 drill fan is characteristic of the extent and continuity of the mineralization with apparent thicknesses of 50 to 250 meters which indicates the applicability of low-cost block caving underground mining. This high grade underground mineralization, in close proximity to the mill, could have a significant positive impact on the grade of the ore feed to PT-FI's "fourth concentrator mill expansion". The optimum rate of the expansion is being assessed but is expected to be at least 190,000 to 200,000 metric tons of ore per day. Permitting for this expansion is currently underway with a start-up date anticipated during the second half of 1998. This delineation drilling was initiated following the successful exploration of a one square kilometer area by drilling 21 widely spaced drill holes on the southeast side of the prolific Grasberg copper/gold porphyry deposit. This drilling resulted in the discovery of significant copper/gold skarn mineralization, called the Kucing Liar prospect, which was intersected within the Waripi and Kembelangan formations between the 2500 to 3000 meter elevations, representing a potential mantle of copper and gold around the base of the Grasberg deposit. A northwest-southeast trending fault, the Idenberg #1 fault, bounds this mantle of copper on the south and appears to contain copper/gold mineralization over a distance of at least 1.5 kilometers. Exploration drilling activities continue to explore the extent of the Kucing Liar style mineralization. Once the Amole tunnel has progressed to the center of the Grasberg orebody, exploration drilling will be conducted from underground to test the western and northern flanks of the Grasberg for Kucing Liar style mineralization as well as to test the deep Grasberg below the presently outlined 600+ million metric ton block-cave reserve that was announced in December 1995. Geological mapping, sampling, geophysical surveying and drilling continued at the Wabu prospect as well as other targets within PT FI's Block B area. Geologic work including drilling and geophysical surveying continued at Etna Bay in Block I and in Block II. Reconnaissance mapping and sampling is scheduled to take place in Block III during the 4th quarter of 1996. FCX is engaged in the exploration, mining and milling of copper, gold and silver in Irian Jaya, Indonesia, and the smelting and refining of copper concentrates in Spain. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. FREEPORT-McMoRan COPPER & GOLD INC. By: /s/ Michael A. Weaver ------------------------------ Michael A. Weaver Controller-Financial Reporting (authorized signatory and Principal Accounting Officer) Date: September 27, 1996 -----END PRIVACY-ENHANCED MESSAGE-----