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OZ Minerals, Mithril Resources unite for South Australian nickel-copper exploration

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OZ Minerals, Mithril Resources unite for South Australian nickel-copper exploration

Fellow Australian base metals explorers and have teamed upto explore for nickel and copper in South Australia's Coompana Province.

OZ Minerals said July 21 that it has entered into a heads ofagreement with Mithril to explore seven license areas in the region.

The South Australian government has collected and releaseddata for the Coompana Province that includes high-resolution aeromagnetic,seismic survey data and magnetotelluric data.

Additionally, a ground gravity survey is planned for thefinal quarter of 2016.

The first step will be for Mithril to undertake a targetgeneration exercise in the Coompana Block to identify potential drill targets,with OZ Minerals agreeing to contribute A$250,000 to the stage-one targetingprogram.

If Mithril is successful in identifying prospective drilltargets, a formal joint venture will be executed.

OZ Minerals said initial drill testing could be conducted inthe early half of 2017.