COMMERCIAL Mt Isa proves 60p.c. more copper ore

Press, Volume CX, Issue 32459, 20 November 1970, Page 18

COMMERCIAL Mt Isa proves 60p.c. more copper ore

(N.Z.P.A.-Reuter—Copyright) SYDNEY, November 19. Mount Isa Mines, Ltd, proved 60 per cent more primary ore reserves, to 120 m tons of three per cent copper in the year to June 30, the directors said in the annual report, released yesterday.

The company’s silver-iead-zinc ore reserves also increased from 45m to 52m tons of primary ore, assaying 7 per cent lead, 5.9 per cent zinc and 5 per cent silver. At the New Hilton mine, ore reserves are put at 35m tons of 7.7 per cent lead, 9.6 per cent zinc and 5.8 per cent silver. Mt Isa Mines has become an operating subsidiary of M.I.M. Holding, Ltd. Total ore production for the year was 5,925,688 tons (4,985,798) comprising 2.238,024 tons (1,926,139) of silver-lead-zinc ore and 3,597,664 tons (3,032,659) of copper ore. The directors said a new record of 188,368 ft of exploratory drilling was completed on the leases at Mt Isa.

At Hilton, deep scout drilling at wide intervals along the strike from the initial mining block considerably increased the over-all potential. Intersections of

mineable ore are now known to exist over a strike length of more than 15,000 ft. A feature of the new intersection is the high zinc content in relation to lead and silver values.

The company spent a record $4,120,435 in an intensive exploration programme in Australia, New Guinea and New Zealand during the year, in addition to exploration in the immediate mine area at Mt Isa. A number of projects have reached the feasibility study stage. Test work to date in New Zealand, has indicated total reserves of about 15m tons of ilmenite in two major deposits, Barrytown and Hokitika. In one area at the Frieda copper prospect in New Guinea, a few holes were completed in sporadic low grade copper mineralisation. In the second area seven holes were completed six of which averaged 0.4 per cent copper to a depth of about 580 ft, and in the third area three holes were completed which averaged about 0.6 per cent copper to an average depth of 500 ft. The directors said insufficient information is available toi assess the possibility of an] economic operation. At the Mount Cuthberthl

copper mine near Mt Isa, encouraging results were obtained, and the mine will be dewatered to allow an underground investigation. Additional drilling completed on the oil shale deposits near Gladstone revealed encouraging results. Testing of samples is in progress. The search for nickel and base metals in Western Australia has located only very low grade nickel mineralisation, the directors said.