Mining giant BHP said that it has identified a potential new iron oxide, copper, gold (IOCG) mineralized system, 65km to the south east of its Olympic Dam operations in South Australia.
Image: One of the iron ore operations of BHP. Photo: courtesy of BHP.
As part of BHP’s ongoing copper exploration program, four diamond drill holes, totalling 5346 metres, intersected copper, gold, uranium and silver mineralisation of IOCG style on BHP’s exploration licence 5941.
Laboratory assay results show downhole mineralisation intercepts ranging from 0.5 per cent to six per cent copper with associated gold, uranium and silver metals. The results are shown in the table below.
This exploration project is at an early stage and there is currently insufficient geological information to assess the size, quality and continuity of the mineralised intersections. BHP is evaluating and interpreting the results reported and planning a further drilling program, to commence in early 2019.
BHP’s copper exploration program has targeted the Stuart Shelf in South Australia as part of a focused global program which includes Ecuador, Canada, Peru, Chile and the south west of the United States.
Copper and oil are the main focus of BHP’s exploration programs in order to replenish our resource base and enhance our portfolio.
Source: Company Press Release