Thursday, January 21, 2010

Oz Minerals targets Cambodia for expansion

The radically contracted Australian miner OZ Minerals is continuing to explore opportunities in South East Asia and is undertaking final drilling at Okvau in north east Cambodia before producing an initial resource estimate. Recent drill results at Okvau included one hole from surface to almost 400 m that gave series of seven significant intercepts, the best two being 9m from surface of 4.82 g/t and a deeper hit of 10m @ 5.99 g/t gold.

However the company sold its 75% interest in the Thai Chatree joint venture with Thai Global Ventures to Owen Hegarty's Tigers Realm Minerals Pty Ltd for cash and shares. It retains Thai tenement applications for greenfield exploration.

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