OZ Minerals (ASX:OZL) and IMX Resources (ASX:IXR) Signed an Exploration JV Agreement

OZ Minerals Limited (ASX:OZL) and IMX Resources Limited (ASX:IXR) have signed an Exploration Joint Venture Agreement to form a joint venture to explore for, and facilitate the development of, copper-gold projects on IMX's Mt Woods tenements in South Australia. OZ Minerals, which holds a 13 percent stake in IMX, has an immediate 51 per cent interest in the joint venture.

An exploration program is scheduled to commence immediately. IMX's Mt Woods tenements are largely contiguous with OZ Mineral's tenements which contain the Prominent Hill copper mine in South Australia.

IMX Managing Director said the joint venture means a very significant increase in expenditure at Mt Woods, well in excess of what IMX could afford.


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