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OZ Minerals improves confidence of Carrapateena copper project resource

OZ Minerals Ltd. increased the measured resource for its Carrapateena copper project in South Australia by 46%.

The overall resource now stands at 134 million tonnes at 1.5% copper, 0.6 g/t of gold and 6.5 g/t of silver for just under 2.0 million tonnes of copper, 2.6 million ounces of gold and 27.9 million ounces of silver, according to a Dec. 9 statement.

Of the total, 61 million tonnes at 1.4% copper, 0.6 g/t of gold and 6.3 g/t of silver for 880,000 tonnes of copper, 1.2 million ounces of gold and 12.4 million ounces of silver is in the measured category.

The updated resource includes an additional six drill holes from the 2016 drilling program.

The revised resource will be included in the feasibility study that is underway and due for completion at the end of the first quarter of 2017.

OZ Minerals said it will not do any further resource drilling from the surface, and the next round of drilling will be conducted underground in late 2017.