Overland Resources Limited (ASX:OVR) Announce 200% Increase in Land Position at the Anyox Copper Project
Overland Resources Limited (ASX:OVR) Announce 200% Increase in Land Position at the Anyox Copper Project
Perth, Oct 5, 2011 AEST (ABN Newswire) - Overland Resources Limited (ASX:OVR) is pleased to announce that an additional 50 Crown Granted Claims will be included in the Company's exclusive option agreement to acquire a 100% interest in the Anyox Copper Project in northern British Columbia, Canada.

The project area now incorporates 72 Crown Granted Claims that cover in excess of 2,500 hectares centred on the historical high-grade Hidden Creek Copper Mine. Between 1914 and 1935 21.8 million tonnes of ore were extracted from the Hidden Creek Mine at an average grade of 1.57% Cu, 0.17g/t Au and 9.5 g/t Ag.

The additional Claims include the high-grade Bonanza Copper Mine as well as several other high priority exploration targets.

The Bonanza Copper Mine, located approximately 5km south of the Hidden Creek Mine, provided supplementary feed to the historical smelter located at the town of Anyox. During its limited operation between 1928 and 1935 650,000 tonnes of ore were extracted from the Bonanza Mine at an average grade of 2.2% Cu.

In order to satisfactorily conduct due diligence on the additional Claims, the Company has been granted an extension of the due diligence period for the entire project to 31 December 2011.

The Company is also pleased to advise that it has been offered the use of the substantial existing infrastructure present at the project. This includes a barge docking facility, a network of roads and a 52 person camp.

Furthermore an experienced logistics company that regularly services the region with a fleet of barges has been identified. This company can readily supply bulk fuel, as well as mobilise heavy equipment, to the project. This will facilitate the cost effective and efficient start-up of field work early in the new year.

About Overland Resources Limited

Overland Resources Limited (ASX:OVR) is aggressively advancing the Yukon Base Metal Project and in particular the high grade Andrew Zinc Deposit towards production. The Yukon Base Metal Project contains a JORC Code compliant resource of 8.95 million tonnes at 6.3% Zn and 1.2% Pb with a 2% zinc cut-off applied.

The Company seeks to consolidate their position in Canada by securing additional Base Metal and Nickel projects to add to the Company’s strong portfolio of exploration and development projects.

Overland Resources Board of Directors and management team have extensive global resource industry experience. Their combined technical, commercial and corporate knowledge ensures Overland Resources will achieve its objective.

 


Contact

Hugh Bresser
Managing Director
E-mail: info@overlandresources.com
Tel: +61-8-9226-5566



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