BHPB expands Olympic Dam exploration rights
BHP Billiton is buying five of Tasman Resources’ exploration licences, and one exploration licence application, for $3m. The tenements surround the Olympic Dam project in South Australia.
BHPB's Olympic Dam project.
Tasman said the outlying tenements sold to BHPB contain several targets, but they are believed to be deep, relatively high risk and as such, more suited to companies with far larger exploration budgets.
The tenements are located west, north and north east of Olympic Dam, and south east of Woomera. They cover a total area of 1,176km².
The sale does not include Tasman’s exploration licence for Vulcan IOCGU project, located 30km north of Olympic Dam, which is being developed in a JV with Rio Tinto.