Large Copper/Moly porphyry in the prolific copper belt of Chile
Chile copper porphyry belt contains highest concentration of copper in the world
Message: Oz Minerals to Potentially Earn a 90% Interest in Copaquire for $90M
Terry Lynch, President of International PBX Ventures Ltd. Goes Beyond the Press Release to discuss PBX Signing JV option agreement to allow OZ Minerals to earn a 90% interest in Copaquire by making cash payments of $90 million and drilling up to 30,000 meters.
OZ Minerals Now Drilling Multiple Targets
The Copaquire project is one of the most unique copper-moly projects in all of South America containing both high grade molybdenum and copper. A molybdenum rich core (Cerro Moly) surrounded by a large porphyry copper system (Sulfato) with grades of up to 2% copper.
| Location: | Region I, Northern Chile |
| Ownership: | 100% |
| Type of Ore body: | Copper, molybdenum and rhenium porphyry |
| Primary Metal: | Copper |
| Secondary Metals: | Molybdenum, rhenium |
| Processing: | Potential crush, grind & floation |
| Infrastructure | Accessible by road, 125 km southeast of the city of Iquique |
OZ MINERALS OPTION AGREEMENT
In May 2012 PBX signed a definitive Joint Venture Option Agreement with OZ Exploration Chile Limitada, a wholly owned subsidiary of OZ Minerals Limited of Australia, on PBX's Copaquire copper molybdenum property. The terms of the Agreement allow OZ Minerals to earn a 90% interest in Copaquire by making cash payments of $90 million and drilling up to 30,000 m.
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