BASE metals miner Western Metals Limited has extended its exploration operations in Tasmania.
The Perth-based miner hopes to extend the life of its north-west Tasmanian operations with an extensive exploration programme involving 2000 metres of diamond drilling at Comstock, near Zeehan.
Western Metals managing director said the company has an option to acquire 70 per cent of Comstock with a $3 million payment to Oceania Tasmania Pty Ltd, the owner of the mining tenements.
Western Metals has also clinched an agreement with Perilya Mines NL to earn a 60 per cent interest by funding $1.5 million on exploration over ground held by Perilya to the north of Western’s Mt Gordon copper mine near Mt Isa in Queensland.
The recently commissioned Mt Gordon mine has been increasing production levels, closing the year just shy of 50,000 tonnes annualised design rate.
“Mt Gordon is performing very well and is probably the most significant copper project in the world,” said Mr Webster.
“Not only is it using world’s first technology, but is one of the lowest cost producers.”
