Logo of Phnom Penh Post newspaper Phnom Penh Post - OZ gold estimate at latest drill due in Q1

OZ gold estimate at latest drill due in Q1

OZ gold estimate at latest drill due in Q1

MEASUREMENTS to estimate gold resources at Okvau, in Mondulkiri province, are set to be finalised by mining company OZ Minerals in the first quarter of 2010.

According to the company’s fourth-quarter report released Thursday, structural and geological modelling at the gold deposit have recently been completed, and resource calculations are now under way.

The company hopes to outline an initial inferred resource by the first quarter of 2010, as part of its “new discovery” programme, the report added.

The modelling followed a 5,800-metre drilling programme to test previously unidentified gold mineralisation at Okvau.

Last month, a spokesman for OZ Minerals told the Post it aims to identify at least 2 million ounces of gold at its Cambodian concessions by the end of this year.

Surface sampling and geophysical analysis is ongoing at the four other areas being explored by the company.

The areas, located close to Okvau, are Oput, Area 6, Granite Hill and Area 1. “These prospects are currently being, or will be, drill-tested in 2010 to ascertain the district-scale potential in the Okvau region,” Thursday’s report said.

Australian-based OZ Minerals outperformed its estimates in the last quarter of 2009, according to the figures released. Copper and gold production exceeded expectations at its Primrose Hill site in Australia.

The company mined 36,497 tonnes of copper and 30,526 ounces of gold during the period.

OZ Minerals recently refocused on gold and copper mining in Australia and Southeast Asia following the June sale of US$1.35 billion of its zinc mines to China Minmetals Non-Ferrous Metals Co.

MOST VIEWED

  • Ethnic group ‘disappointed’ to be denied French visas to attend court

    Eleven people at the centre of a case involving seven indigenous Bunong villages in Mondulkiri province pursuing legal action in France have expressed disappointment after the French embassy in Phnom Penh denied their visa applications to attend court. A press release said the 11 included a

  • Cambodia nabs 12th place in best retirement destinations

    Cambodia is an expatriate hotspot for those dreaming of living a more luxurious lifestyle at an affordable cost, according to International Living’s Annual Global Retirement Index 2019. For the fourth year in a row, Cambodia took the top spot in the Cost of Living category.

  • EU starts EBA withdrawal

    The EU on Monday announced that it has begun the 18-month process of withdrawing the Kingdom’s access to its preferential Everything But Arms (EBA) agreement over “a deterioration of democracy [and] respect for human rights”. However, the Garment Manufacturers Association of Cambodia (GMAC) said

  • PM: War result of foreign meddling

    Prime Minister Hun Sen said on Sunday that Cambodia’s recent history of conflict was caused by foreign interference. “The wars that happened were caused by provocation, incitement, support, smearing and interference from foreign powers, and the group of ignorant people who pushed Cambodia to