TETHYAN Copper has completed the earn-in on all of its alliance partner BHP Billiton’s 75 per cent interest in the H4 Starter Project at the Reko Diq Copper-Gold project in Pakistan.
It has also released final assay results from the recently completed resource drill-out of the project.
The milestones come ahead of the planned completion of a bankable feasibility study into the H4 Starter Project by the middle of this year, clearing the way for the first stage development of the Reko Diq complex.
To reach its earn-in milestone Tethyan had to spend $US1 million on regional exploration work.
While BHPB has no further interest in Reko Diq, it holds an interest in the wider suite of assets controlled by Tethyan in the region.
Under an ongoing licence agreement between the two, Tethyan must spend another $US2 million on non-H4 exploration by October 2006 to complete its earn-in on those surrounding BHPB-held exploration licences.
Tethyan has already completed about $US1.5 million of this.