BHP reveals potential size of the prize at Oak Dam
BHP has released an exploration target for the Oak Dam copper discovery in South Australia.
The exploration target is 500 million tonnes to 1.7 billion tonnes at 0.8-1.1% copper.The target was based on 49 drill holes for roughly 61km of drilling completed since the discovery of Oak Dam in 2018.
BHP said the deposit remained open at depth to the south and west of the Hardy Hill fault.
Earlier this year, BHP embarked on what could be the largest exploration program ever in SA.The company said today it was running nine drill rigs with plans to increase to 11 by November. A 150-room camp and a drill core processing facility will be built at site.
Oak Dam is 65km southeast of Olympic Dam, which achieved an annual production record of 212,000 tonnes of copper and 186,000 ounces of gold.
Full-year production records were also achieved at Spence in Chile with 240,000t of copper produced and Western Australian Iron Ore (WAIO), with 285 million tonnes produced...
BHP Price at posting:
$46.00 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)