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Carrapateena confirmed as largest undeveloped copper mine - Oz

Terry Burgess

Terry Burgess

Photo by Bloomberg

28th November 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Copper/gold miner Oz Minerals on Thursday confirmed its Carrapateena project as Australia’s largest undeveloped copper project, following a yearly review of the project’s resource.

Since a 2012 resource estimate, the total mineral resource for the Carrapateena project had increased from 760-million tonnes to 800-million tonnes, grading 0.8% copper and 0.3 g/t gold for 6.3-million tonnes of contained copper and 8.4-million ounces of contained gold.

The resource estimate increase reflected a 5% increase in tonnage, a 7% increase in contained copper and a 14% increase in contained gold, compared with the previous estimate.

“This completes the current stage of work on delineating the Carrapateena resource and demonstrates again that we have a very significant copper resource in the global context,” said Oz Minerals CEO Terry Burgess.

“Carrapateena also has the significant added benefit of being located in a highly favourable mining jurisdiction and in a district which is demonstrating potential to host further deposits,” he added.

The resource estimate would be incorporated into the project’s prefeasibility study, which was currently under way.

Edited by Creamer Media Reporter

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