Terry Lynch, President of International PBX Ventures Ltd. Goes Beyond the Press Release to discuss PBX Signing JV option agreement to allow OZ Minerals to earn a 90% interest in Copaquire by making cash payments of $90 million and drilling up to 30,000 meters.
The Copaquire project is one of the most unique copper-moly projects in all of South America containing both high grade molybdenum and copper. A molybdenum rich core (Cerro Moly) surrounded by a large porphyry copper system (Sulfato) with grades of up to 2% copper.
Region I, Northern Chile
Type of Ore body:
Copper, molybdenum and rhenium porphyry
Potential crush, grind & floation
Accessible by road, 125 km southeast of the city of Iquique
OZ MINERALS OPTION AGREEMENT
In May 2012 PBX signed a definitive Joint Venture Option Agreement with OZ Exploration Chile Limitada, a wholly owned subsidiary of OZ Minerals Limited of Australia, on PBX's Copaquire copper molybdenum property. The terms of the Agreement allow OZ Minerals to earn a 90% interest in Copaquire by making cash payments of $90 million and drilling up to 30,000 m.