The nearby Olympic Dam was discovered in 1975 by WMC. It was not till after 10 drill holes that it was discovered, all the previous holes had low grade copper and if was not for the persistence and patience of WMC's Chairman and Managing Director Sir Arvi Parbo it may never been discovered.
The Olympic Dam is the third largest copper equivalent deposit, the largest uranium deposit, and third largest gold deposit in the world. In 2017, BHP told investors that Olympic Dam had a total resource of more than 120 million tonnes of copper, which, at current mining rates, would take 500 years to deplete.
Nearby to the Olympic Dam mine, BHP few years ago found a mineral deposit called Oak Dam West, which intersected 180m grading 6 per cent copper, inside a larger 425.7m section grading over 3 per cent copper. The mineralisation started about 1km below the surface.
Thats what we TAS shareholders are hoping for.
The nearby Olympic Dam was discovered in 1975 by WMC. It was not...
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