Released by the Company today - on their twitter feed

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OZ MineralsLimited completes 51% Earn In For West Musgrave Ni-Cu Project

Cassini Resources Limited(ASX:CZI) Managing Director, Richard Bevan talks to Proactive Investors aboutthe latest news on joint venture partner OZ Minerals Limited(ASX:OZL) earning its 51% stake for the West Musgrave project in WesternAustralia.

Commenting on the news, Richard Bevan said "It is significant that OZ Minerals have achieved their spend commitment about six months earlier than required. It shows their ongoing commitment to the project, and the excellent results that are being achieved in both the Pre-Feasibility Study and exploration program  This is really giving both organisations a high level of confidence about the project moving forward. It's a really positive outcome and we're excited about the next six months." 

He also provides updates on the 100% owned West Arunta ZincProject where drilling is happening now.

 

Exert from the Oz Minerals LimitedAnnouncement

• Early metallurgical testing shows improvement in copper and nickel recoveries
• Pre-Feasibility Study scheduled for completion in Q2 2019
• Infill drilling program brought forward to enhance potential Feasibility Study schedule

OZ Minerals’ CEO, Andrew Cole, said early study results had been encouraging in a number of areas including resource extension drilling and metallurgy, with good progress made in heritage clearances and community engagement.

“Our confidence in the project’s potential has increased and supports reaching the 51 per cent earn-in level earlier than originally anticipated.

“Recent early metallurgical test work shows significant improvements over the results achieved during the Further Scoping Study with a material improvement in copper and nickel recoveries.

On results to date, we have also seen an increase in copper concentrate grade while nickel concentrate grade remains in line with the Further Scoping Study.

“These encouraging, improvements together with results from our regional exploration drill program that intersected massive sulphides at Yappsu (located approximately six kilometres from the Nebo-Babel deposits which are the primary focus of thePFS), further support our view that West Musgrave has the potential to be an exciting new mineral province with near mine and district opportunities.

“The 2018 resource drilling program to date has also increased our confidence in the existing resource model and geological interpretation such that we now intend to bring forward the 2019 infill drilling program to commence later this year, so asto enhance the potential Feasibility Study schedule.