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OZ Minerals Ltd.
Summary
| Project: | Carrapateena | |
|---|---|---|
| Deposit: | Carrapateena | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 12/9/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 9-12-2016: OZ Minerals Ltd. announces a Resource Estimation report for its Carrapateena deposit at the Carrapateena project. Mineral resource upgrade, project now contains Measured resource category. OZ Minerals’ Carrapateena copper project has reached a | |
| Resources: | (Resource, Total): 134Mt @ 1.5% Cu, 0.6g/t Au, 6.5g/t Ag at Carrapateena | |
| CP/QP: | [Resources]: Stuart Masters (CS-2 Pty Ltd.) | |
| ABSTRACT: | OZ Minerals’ Carrapateena copper project has reached a further milestone with 46% of the Mineral Resource estimate being elevated to the highest possible level of confidence - Measured classification. The 2016 drilling program of 6,616 metres confirmed the geology and grade across the deposit. The drilling program focussed on the upper part of the deposit between 4200mRL – 4600mRL. This section represents the first six years of production from the proposed sub-level cave (SLC) operation, which spans the estimated capital payback period of four years from commencement of production. The updated Mineral Resource estimate forms the basis for the final Carrapateena Feasibility Study. The study is currently underway and is expected to be completed at the end of Q1 2017 which will be followed by a final Board approval process. OZ Minerals’ Chief Operating Officer Bob Fulker commented: “These results further increase our confidence in the Carrapateena resource and underline our strategy to develop the first stage of this project in a world-class mineral district. In line with our commitment to create value, we commenced construction of the Tjati Decline in September 2016 to enable first operating cash flow from Carrapateena in 2019 - construction is progressing well and remains on schedule. Given the confidence we now have in the Mineral Resource estimate; no further resource drilling will be completed from surface. The next round of drilling will be conducted from underground in late 2017 as the Decline progresses meaning drilling costs will be reduced.” | |
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