The discovery was made 65km to the south east of Olympic Dam operations. Credit: © BHP.

BHP has identified a potential new iron oxide, copper and gold (IOCG) mineralised system near its Olympic Dam uranium and copper project in South Australia.

The discovery was made on BHP’s exploration licence 5941 as part of the company’s new copper exploration programme.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The mineralised system is situated 65km to the south east of Olympic Dam.

In a statement, the company confirmed that four diamond drill holes, totalling 5346m, intersected copper, gold, uranium and silver mineralisation of IOCG style.

Based on laboratory assay results, it was found that the downhole mineralisation intercepts range between 0.5% and 6% copper with associated gold, uranium and silver metals. The results are currently being evaluated.

BHP further stated that the exploration project is at an early stage and that further drilling is required to assess the size, quality and continuity of the mineralised intersections.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company intends to undertake additional drilling next year.

In a statement, BHP said: “BHP’s copper exploration program has targeted the Stuart Shelf in South Australia as part of a focused global programme which includes Ecuador, Canada, Peru, Chile and the south west of the US.

“Copper and oil are the main focus of BHP’s exploration programmes in order to replenish our resource base and enhance our portfolio.”

“Copper and oil are the main focus of BHP’s exploration programmes in order to replenish our resource base and enhance our portfolio.”

In October this year, BHP reached an agreement to raise its interest in SolGold, which is the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador, to 11.2%.

Olympic Dam is a poly-metallic mine comprising underground and surface operations. The mine also operates an integrated processing facility.