OZ Minerals to explore for VHMS deposits in Southern Mexico

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OZ Minerals has entered into a new exploration earn-in agreement targeting three newly identified, high-base metal prospects in Oaxaca, Southern Mexico. OZ Minerals will partner with Acapulco Gold Corp, a private exploration company based in Canada with significant experience and a discovery track record in Mexico. OZ Minerals’ CEO Andrew Cole commented: “The sites we are targeting have potential for shallow, high-value per tonne, volcanic-hosted massive sulphide (VHMS) deposits. VHMS deposits are significant contributors to the global production of copper, zinc, lead and silver. Although there are positive geological indicators, the sites have not had modern mining exploration techniques undertaken. They are however, located near excellent road and port infrastructure.” OZ Minerals will make a first year, in-ground expenditure of US$450,000 on detailed geological mapping, geochemistry, and geophysics. Exploration will commence immediately and drilling is expected to commence in the second half of 2017.

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