OZ Minerals has allocated $4 million for regional exploration during the current stage, with a further $4 million available during the next stage of the joint venture should OZ Minerals progress.
The Musgrave Project is currently progressing rapidly through the pre-feasibility stage, with 30+ people onsite and four active drill rigs.
The regional exploration strategy, managed by Cassini, is designed to identify additional high-value ore outside the Nebo-Babel deposits to complement the proposed mining operation.
To achieve this, the company has identified a number of priority targets with the potential for providing high-grade nickel-copper mineralisation.
The immediate priorities for the 2018 program will be to follow-up the One Tree Hill discovery made in 2017, the Yappsu Prospect, and further drilling at the Succoth Copper deposit.
The Yappsu Prospect
Cassini’s recent electromagnetic survey showed an improved response over the known mineralisation at Yappsu represented as a strong, discrete, late-time anomaly.
This new survey highlights the fact that the historical surface electromagnetic data has not effectively screened for massive-sulphide mineralisation.
Drilling to test the recently identified conductors is now underway.
One Tree Hill Prospect
The new electromagnetic survey has clearly defined a late-time conductive trend consistent with the position and depth of the known massive sulphides at One Tree Hill.
The survey has provided new targets for drilling, which will be undertaken following drill testing at Yappsu.
The field program at the Musgrave Project is expected to continue through until November this year.