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Oz Minerals gets Carrapateena retention lease

15th March 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Copper/gold miner Oz Minerals is expected to make a development decision on its Carrapateena project by 2015.

The miner this week announced that it had been granted a retention lease for the copper/gold project, in South Australia, allowing the company to pursue advanced exploration works to determine the feasibility of future mining activities.

“Through the retention lease approvals process, Oz Minerals has engaged with a variety of local stakeholders and government groups, and the feedback we have received has been overwhelmingly positive,” said Oz Minerals MD and CEO Terry Burgess.

“At this early stage, over 20 local contractors from towns such as Port Augusta have conducted work at Carrapateena, and we look forward to ongoing positive relationships with local communities,” he added.

A native title agreement has also been reached.

Oz Minerals was currently looking to develop a 6.5 km exploration decline at Carrapateena to undertake further geotechnical testing at the orebody. At the same time, the company would launch the prefeasibility study, allowing for a decision to mine by 2015.

The project currently hosted a mineral resource estimated at 760-million tons, grading 0.78% copper and 0.3 g/t gold.

Edited by Creamer Media Reporter

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