OXR oxiana limited

Also as a silver play

  1. 10,390 Posts.
    lightbulb Created with Sketch. 12
    From an announcement back in Feb. This is quite substantial and could also explain the growing interest in OXR from instos.

    Sepon Project - Silver Resources
    26-02 1114
    Oxiana has completed an initial evaluation of the silver resource
    contained within the Khanong copper orebody. An inferred resource
    containing 20 million ounces of silver has been estimated. Silver
    contained within the Sepon gold deposits is estimated at 7 million
    ounces giving a total silver resource to date of 27 million ounces.

    KHANONG COPPER BFS

    The Khanong copper orebody comprises predominantly leachable
    chalcocite and oxide copper ores. Oxiana is undertaking a Bankable
    Feasibility Study (BFS) in 2002 evaluating the optimum potential
    development plan for Khanong. Initial studies point to a 45,000 t/a
    75,000 t/a leach/sx/ew copper metal operation utilizing Laos
    hydro-electric power.

    Oxiana drilling and metallurgical testwork to date has been focussed
    on the copper resource. Khanong has also returned robust silver
    grades and an evaluation of the silver content has recently been
    completed.

    SILVER RESOURCE

    Silver resource estimates for the Khanong copper deposit and Sepon
    gold deposits are tabulated below:

    KHANONG COPPER SEPON GOLD DEPOSITS
    DEPOSIT

    Tonnes 45 million 70 million
    Silver Grade 14 g/t 3.1 g/t
    Contained Silver 20 million oz 7 million oz

    Notes:
    1. Inferred silver resources contained within the Khanong copper
    deposit are estimated at a 0.5% Cu cut-off grade.
    2. Total measured, indicated and inferred silver resources contained
    within the Sepon gold deposits are estimated at a 0.5g/t Au cut-off
    grade as previously reported.

    SILVER PROCESSING AND RECOVERIES

    In the gold project the silver will be recovered into the gold
    bullion. The BFS showed silver recoveries to be variable.

    The copper BFS will determine expected silver recoveries front the
    Khanong copper orebody.

    O Hegarty
    MANAGING DIRECTOR

    Within this statement references to resources have been approved for
    release by Tony Manini BSc (Hons), FAusIMM who has more than five
    years experience in the field of activity concerned.

    ends - AAP

 
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