43,400 TONNE RESOURCE
In Low Sovereign Risk, Mining Friendly South Australia
43,400 tonnes of cobalt in JORC Mineral Resources contained in two advanced projects, namely Kalkaroo and Mutooroo.
Cobalt is contained in cobaltian pyrite in association with copper sulphides, and is readily concentrated as a by-product of the copper flotation process.
Excellent logistics, being located in northeastern South Australia near Broken Hill with the Transcontinental railway and main highway nearby.
An ethical source of cobalt from a low sovereign risk, tier 1 environmental, social and governance (ESG) destination.
- One of the larger undeveloped open pit copper deposits in Australia, containing 1.1 million tonnes of copper, 3.1 million ounces of gold and 23,200 tonnes of cobalt in Measured, Indicated and Inferred JORC Mineral Resources.
- Cobalt occurs exclusively in pyrite which can be concentrated during processing into a by-product concentrate that contains on average 0.3% cobalt, 2.5 g/t gold and 1% copper.
- OZ Minerals is presently undertaking a comprehensive Study Program to update the PFS to determine whether to exercise the Kalkaroo Option and purchase 100% of Kalkaroo for a sum of $205 million (plus potentially additional contingency payments).
- Project is well advanced with granted mining lease, earlier pre-feasibility study, and land ownership.
– One of the highest grade sulphide cobalt deposits (0.16% cobalt) in Australia with associated copper (1.53% copper).
- Contains 195,000 tonnes copper, 20,200 tonnes of cobalt and 82,100 ounces of gold in Measured, Indicated and Inferred JORC resources.
- Cobalt occurs in both pyrite and pyrrhotite which can be concentrated during processing into separate by-product concentrates for subsequent recovery of cobalt products.
- Concept is for an initial shallow open pit exploiting >1.3% Cu and 0.14% Co Measured and Indicated resources followed by underground mining of higher grade Inferred resources >1.7% Cu and 0.17% Co.
- Very high exploration potential for new discoveries in the surrounding 100% owned exploration licences. Drilling of numerous targets planned.
43,400 TONNES OF COBALT IN JORC MINERAL RESOURCES
Copper, gold, cobalt JORC Mineral Resource inventory – 1.3 million tonnes of copper, 3.2 million ounces of gold and 43.4 thousand tonnes of cobalt.
Kalkaroo copper-gold-cobalt deposit – 100 million tonne open pit JORC Ore Reserves of 0.474 million tonnes of copper and 1.4 million ounces of gold.
Mutooroo copper-cobalt-gold deposit – 13.1 million tonnes of 1.53% copper, 0.16% cobalt and 0.20 g/t gold open pit massive sulphide deposit.
Iron ore – three deposits namely Maldorky and Grants JORC Resources and Grants Basin, with potentially several billion tonnes of iron ore mineralisation.
Over 16,000 km² of highly prospective mineral tenements in South Australia – unmatched elsewhere in Australia.
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