OXR oxiana limited

Oxiana copper drilling results

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    OXR RIO - ASX Company Announcement
    $mtl7 THIS IS A PRIORITY ITEM
    12 June 2002
    Part 1/1
    --------
    OXIANA RESOURCES NL
    -------------------

    HOMEX - Melbourne
    -------------------------
    Sepon Copper Project - BFS Drilling

    DRILLING PROGRAMME

    Oxiana has completed an in-fill and extension drilling programme at
    the Khanong copper deposit as part of the Copper Bankable Feasibility
    Study (BFS). The Khanong deposit is a near surface high grade
    supergene chalcocite and oxide copper resource.

    RESULTS

    Assay results have been received from a further 33 holes, KHN 213 to
    KHN 245. These holes were drilled to infill through the core of the
    deposit and to test for possible extensions along the northern
    margins of the orebody (Figure 1). Better intercepts ()2% Cu)
    include:

    HOLE EASTING NORTHING INTERCEPT DEPTH METCODE
    NO FROM
    KHN213 608147 1875751 18m 4.6% Cu 39 metres CC
    KHN214 608099 1875853 35m 7.2% Cu 43 metres CuO
    KHN215 608104 1875802 9m 2.1% Cu 47 metres CC
    KHN216 608201 1875836 31m 4.5% Cu 20 metres CC
    KHN217 608202 1875897 52m 8.5% Cu 21 metres CC,CuO
    KHN218 608261 1875912 33m 7.9% Cu 25 metres CC
    KHN219 608299 1875798 29m 4.3% Cu 10 metres CC
    KHN220 608300 1875851 33m 7.5% Cu 13 metres CC,PR
    KHN221 608303 1875973 27m 7.2% Cu 28 metres CC
    KHN222 608319 1876028 38m 6.9% Cu 5 metres CC,CuO
    KHN224 608528 1876075 63m 6.5% Cu 14 metres CC
    KHN225 608499 1876122 48m 5.1% Cu 36 metres CC,CuO
    KHN226 608401 1876095 16m 8.1% Cu 54 metres CC,CuO
    KHN227 608544 1876162 31m 3.2% Cu 55 metres CC,PR
    KHN228 608499 1876202 5m 2.3% Cu 70 metres PR
    KHN230 608396 1876194 5m 2.7% Cu 52 metres CuO
    KHN236 607700 1875643 14m 6.6% Cu 35 metres CC
    KHN237 607700 1875695 42m 13.3% Cu 31 metres CuO
    KHN243 607599 1875644 37m 2.1% Cu 24 metres CC
    KHN244 607930 1875794 17m 5.5% Cu 21 metres CC,CuO

    Note: sample interval is 1 metre; intercepts are weighted averages
    calculated using a 0.5% copper cut-off grade; maximum internal waste
    is 2 metres; metcode CC _ chalcocite, CuO _ copper oxide, PR _
    primary; all holes are vertical.

    Full results will be published when all assays are received. A
    revised resource estimate will then be completed.

    O L Hegarty
    MANAGING DIRECTOR

    Note: Within this statement references to resources and exploration
    results have been approved for release by Tony Manini B.Sc (Hons),
    F.Aus.IMM who has more than five years experience in the field of
    activity concerned.

    A copy of the full announcement including diagram is available in PDF
    format on www.asx.com.au. Alternatively it is available for purchase
    from ASX Customer Service on 1 300 300 279.

    ends - AAP

 
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