ozl joint venture in chile's copaquire, page-10

There is a fair amount of information on the Copaquire Project on PBX International’s website.

From a quick read, the project is an advanced porphyry exploration target. Current defined resources include:
• Sulfato South Zone 100MT at 0.4% CuEq
• Cerro Molly zone 400 MT at 0.27% Cu Eq

The porphyry system is open with exploration targets of an additional 1Bt.

There is also a larger potential porphyry system in the mining lease that has not been drilled.

So this could be a big project for OZL. If the exploration targets can be converted to resources we could be looking at a 1BT+ project. At a 50MT/pa mill rate production could be in the order of 200kt/pa, voer a 20+ year mine life. CAPEX would be substantial and OZL would probably need to find a JV partner.

Also, don’t be turned-off by the low grades. Porphyry systems generally have very low strip ratios and mining costs.