Diversified miner Oxiana Ltd has signed a joint venture deal...

Diversified miner Oxiana Ltd has signed a joint venture deal with a UK company to explore a gold and copper project in Queensland.

Oxiana can earn an 80 per cent stake in the Waroo project by spending up to $4 million.

The project is owned by UK miner Angus and Ross, via its 52.5 per cent owned subsidiary Queensland Gold and Minerals Ltd.

The exploration at Waroo will be focused on large, low-grade disseminated gold and copper deposits suited to open-pit mining.

Queensland Gold and Copper is preparing an initial public offering, on the back of nine projects across Queensland and Victoria.


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