WOLLOGORANG PROJECT UPDATE (MARCH 2023)
- OZ Minerals (ASX: OZL) has elected to withdraw from the next stage of the Wollogorang Project (Northern Territory) earn-in agreement after meeting the Initial Stage expenditure of $1.6m
- 50% of the planned drill holes in 2022 remained untested - due to the wet season onset
- Wollogorang Project remains prospective for battery metals and contains the Stanton Cobalt Mineral Resource containing 0.9 Mt @ 0.13% Co
- Ownership of the battery metals Wollogorang Project remains 100% Resolution Minerals
- OZL continues its engagement with RML by continuing to earn into the Benmara Battery Metals Project in the Northern Territory (NT) under a separate agreement
- Resolution will seek to monetise the Wollogorang Project and focus efforts on a scoping study on the 100% owned George Project in South Australia - prospective for Silica Sands and Uranium
OZ Minerals continues to be engaged with Resolution at the Benmara Project in the NT, which has recently commenced the Initial Period expenditure of $1.0m (ASX Announcement 9/9/2022). The agreement is separate and not impacted by this decision regarding the Wollogorang Project.