BHP confirmed identification of a potential new iron oxide, copper, gold (IOCG) mineralised system, located 65 kilometres to the south east of BHP’s operations at Olympic Dam in South Australia. As part of BHP’s ongoing copper exploration program, four diamond drill holes, totalling 5346 metres, intersected copper, gold, uranium and silver mineralisation of IOCG style on BHP’s exploration licence 5941.
Laboratory assay results show downhole mineralisation intercepts ranging from 0.5 per cent to six per cent copper with associated gold, uranium and silver metals. The results are shown in the table below.
This exploration project is at an early stage and there is currently insufficient geological information to assess the size, quality and continuity of the mineralised intersections. BHP is evaluating and interpreting the results reported and planning a further drilling program, to commence in early 2019.
BHP’s copper exploration program has targeted the Stuart Shelf in South Australia as part of a focused global program which includes Ecuador, Canada, Peru, Chile and the south west of the United States. Copper and oil are the main focus of BHP’s exploration programs in order to replenish resource bases and portfolios.