trending Market Intelligence /marketintelligence/en/news-insights/trending/mdn2qo8jsocm1mn4ic5bha2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

OZ Minerals, Red Tiger to drill new copper-gold targets in South Australia

Street Talk Episode 41 - How to Win the Funding Battle, Use Fintech to Play Offense

Forward Spark Spreads Suggest Rising Profitability Of US Renewables As Sector Matures

MA Activity The Big Story In Mature Online Video Platform Market

Martina Cheung Backs The Quality Program


OZ Minerals, Red Tiger to drill new copper-gold targets in South Australia

OZ Minerals Ltd. and privately held Red Tiger Resources Ltd. entered into a heads of agreement to drill new copper and gold targets some 30 kilometers northwest of Oz Minerals' Carrapateena copper-gold project in South Australia, according to a Dec. 22 release.

Previous drilling at the Intercept Hill targets show iron oxide copper-gold mineralization similar to Carrapateena and existing mines in Prominent Hill and BHP Billiton Group's Olympic Dam mine. The drilling program will look at existing data, and the company is expected remain within its exploration cost guidance of between A$10 million and A$15 million, OZ Minerals CEO Andrew Cole said.

Red Tiger will initially drill four holes in the first phase, with initial funding of about A$1.2 million provided by OZ Minerals.

OZ Minerals can elect to spend a further A$2.8 million on exploration in the second phase to earn a 51% stake in the tenement. Upon completing the second phase, the companies will form a joint venture on the project.

OZ Minerals will also have the option to increase its stake to 75% by funding another A$5 million on exploration.

Earlier in December, the ASX-listed company increased the measured resource for the Carrapateena copper project by 46%.