MONDAY 10 MAY 2010
New drill intersections at Prominent Hill announced in presentation to analysts
As part of an analyst visit to Prominent Hill on 10 and 11 May 2010, a presentation will be released to the market, including information on drill intersections from a new area, below what has previously been described as the Western Gold Zone. These new drill intercepts show relatively high copper and gold mineralisation as indicated below. Hole PH10D501W1 intersected: 27m at 0.08% copper and 1.79g/t gold from 802m, and 53m at 1.74% copper and 1.03g/t gold from 870m Drilling continues with hole PH10D512W2 targeting mineralisation beneath this hole. Visual results seen to date indicate broad zones of alteration with associated visual copper mineralisation. Results are awaited. Marcel van Eck, OZ Minerals Exploration Manager for South Australia, said “this intersection demonstrates that there is significant potential in the area around Prominent Hill that is being targeted by a systematic program of geophysics followed by exploration drilling”. OZ Minerals is spending a total of $40 million in 2010 on the 4,000 square kilometres of Prominent Hill tenements and on the 3,000 square kilometres of tenements that are part of the joint venture with IMX Resources. In April a comprehensive airborne geophysics program using ‘Falcon’ technology commenced across a large area of these tenements to the north and west of Prominent Hill, in which a total of 24,000 line kilometres will be flown with a line spacing of 200 metres. Terry Burgess, CEO of OZ Minerals said, “I believe that we can add more value for OZ Minerals shareholders with a major exploration discovery around Prominent Hill than anything else we can do. We are committed to systematic exploration in this highly prospective region. Today's results are an initial indication of the potential that might be in the region and we look forward to the results of the current and further exploration programs”. A full copy of this announcement and a copy of the Prominent Hill Analyst Tour presentation are available on OZ Minerals' website.
Natalie WorleyHead of Investor & External RelationsOZ Minerals LimitedT: 03 9288 email@example.com