During the reporting year 2016 to 2017, OZ Minerals’ work included doing ongoing drilling at Carrapateena for resource definition and to provide ore samples for metallurgical testing, reaching completion of a Pre-Feasibility Study (PFS) for this...
During the reporting year 2016 to 2017, OZ Minerals’ work included doing ongoing drilling at Carrapateena for resource definition and to provide ore samples for metallurgical testing, reaching completion of a Pre-Feasibility Study (PFS) for this deposit, and preparing and releasing two JORC 2012 compliant Mineral Resources and Mineral Reserve estimates. The drilling was focussed on the upper part of the Carrapateena deposit, and comprised a total of 13 PQ/HQ/NQ2 diamond cored holes constructed as 4 parent holes and 9 wedge-offs: the penetration totalled 6616 m, this figure comprising 3827 m of resource definition drilling and 2789 m for metallurgical sampling purposes. The aims of the latest drilling were to confirm ore grade and geological continuity, and to upgrade part of the Mineral Resource to become a Measured Resource. The resource definition drilling completed during the reporting period was used by OZ Minerals to re-interpret the Carrapateena orebody geological model and to re-estimate its Mineral Resource. An updated resource estimate as at 18/11/2016 was announced to the ASX on 7/12/2016. As part of the Pre-Feasibility Study, the high grade ore reserve estimate announced in October 2015 was re-stated in October 2016 at a lower cut-off grade, to align with the PFS requirement which is based on the ore which would be accessible via a sub-level cave operation. This new Proved and Probable ore reserve was based on the same drillhole data as had been used to calculate the 6/10/2015 high grade ore reserve, and now stands at 70 Mt @ 1.8% Cu, 0.7 g/t Au and 8.4 g/t Ag, for contained metal contents of 1.3 Mt of copper, 1.7 Moz of gold and 19 M oz of silver. The Carrapateena Mining Project scoping study initiated in the previous reporting year has concluded that a 4 Mtpa sub-level cave mine development, with decline access and conveyor ore haulage, is the preferred development case. The results of making the PFS have demonstrated that the project is both technically and financially viable, with a risk and opportunity profile that is competitive with, or better than, other global long-life copper assets which are presently at a similar stage of development. During the reporting period to 7th January 2018, work conducted on the tenement group included drilling at Carrapateena for geotechnical studies, work on a Feasibility Study and the release of an updated JORC 2012 compliant Mineral Resources and Mineral Reserve. Geotechnical drilling was completed with RL 127 within EL 5919 and saw the completion of 8 diamond holes 4483.8 m (DD17CAR123-130). The drilling was designed to characterise the geotechnical conditions of the air rise positions in the in the cover sequence. Holes were survey and logged. During the 2018 reporting period to 31st December 2018, work undertaken by Oz Minerals includes Audio-frequency Magnetotellurics (AMT), Electromagnetics (EM), Magnetics geophysical surveys, and Diamond drilling at the Khamsin prospect. The geophysical program was part of a fingerprinting exercise to understand the signature of each of the known mineralised bodies using a variety of geophysical methods. A total of 129 stations were collected by Zonge Engineering and Research Organization over 3 areas (Carrapateena - Freemantle Doctor, Khamsin and Etesian) as part of the AMT survey. The EM surveys were carried out by GEM Geophysics and saw 101.4 line-km of data collected across the Carrapateena, Freemantle Doctor, Etesian and Khamsin prospects. At the time of this report modelling, interpretation and reporting was still ongoing. A ground magnetic survey was undertaken over 4 areas (Carrapateena, Fremantle Doctor, Khamsin and Etesian) by Euro Exploration Services, with a total of 204.8 line-km of data collected across 72 survey lines. The drilling was completed on EL 5919, at Khamsin, and comprised a total of 4 holes totalling 6143.4 m of infill and extensional drilling. The first 200 m was drilled as PQ diamond core through the cover sequence and HQ and NQ2 diameter core to basement. Significant intersect from the current drilling program included DD18KMS031 for 42 m @ 3.62% Cu, 0.09 g/t Au from 743 m.
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