The PFS at the West Musgrove, which is 500km west of Uluru, near the intersection of the borders between Western Australia, South Australia and Northern Territory, has demonstrated a long life ~26-year open pit copper and nickel sulphide mine. It is the first development opportunity within the broader West Musgrave province which includes a number of additional highly prospective opportunities including the nearby Succoth copper deposit. A Maiden probable ore reserve of 220Mt at 0.36 per cent Cu and 0.33 per cent Ni was also declared, representing ~22 years of the ~26-year life of mine (LOM) demonstrated in the PFS (with the balance of the mine life underpinned by a combination of Indicated and Inferred Mineral Resource).
OZ Minerals CEO, Andrew Cole said: "The pre-feasibility study is now complete and has confirmed the project can be a low carbon, low cost, long-life mine producing copper and nickel, both in-demand minerals for the renewable and electrification industries.
"During 2019 sufficient drilling was completed to allow the declaration of a maiden ore reserve of 220Mt (100% Probable) at 0.36 per cent Cu and 0.33 per cent Ni which is underpinned by the pre-feasibility study."