Project: Cairn Hill
Organisation: OZ Minerals and IMX Resources
ASX: OZL IXR
Highlight: The Cain Hill project is entering exploration stage and plans to spend $20 million on exploration for copper and gold deposits over five years.
Best contact person for project work: OZ Minerals CFO Andrew Coles, 03 9288 0340
After barely surviving the global financial crisis OZ Minerals has emerged ready to expand its portfolio of operations beyond its Prominent Hill Copper-Gold mine in South Australia’s north.
Whilst ramping up its exploration activities in its own mining leases, OZ Minerals have struck a deal with IMX Resources who have a series of exploration leases surrounding Cairn Hill close to Prominent Hill where OZ Minerals has established processing facilities. OZ Minerals will fund $20 million worth of exploration over 5 years in IMX Resources leases in exchange for a 51% interest in the deposits. The companies are particularly looking for more copper-gold deposits which will compliment OZ minerals existing facilities.
This exploration campaign will involve geophysical and drilling activities and is expected to begin by the 2nd Quarter of 2010. This project provides potential opportunities for companies supplying…
- Camp construction
- Equipment hire
- Project management
- Geological services
- Griding & surveying
- Soil sampling
- Logistics management
- Safety Service
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