Home / Media Release / Exploration drilling delivers results at Las Bambas and Rosebery

Exploration drilling delivers results at Las Bambas and Rosebery

MMG Limited (MMG, the Company) is pleased to announce positive results from its recent drilling programs at Las Bambas and Rosebery.

The Company is conducting a deep drilling program below the current Ferrobamba pit, at its Las Bambas mine, with the results successfully defining the depth extension and continuity of skarn and porphyry mineralisation beneath the 2022 Ore Reserve pit design. The results further confirm the potential for a large tonnage copper (at 0.4% to 0.6%), molybdenum (at 200 to 500 ppm), silver (2g/t to 4g/t) and gold (0.04g/t to 0.08g/t) grade deposit to exist.

MMG Interim CEO, Liangang Li said that the results from the 2022 program were encouraging, with more drilling planned for rest of 2023 and in 2024.

“These positive exploration results are an outcome of our sustained focus on maximising the value of our assets. Las Bambas is a world class mine with significant upside potential at a time when the green energy transition is becoming more urgent.”

“We intend to build on the 2022 drilling program with additional studies, and further drilling in 2023 and 2024. We will substantially increase both the number of drill holes and the drill meters in this area to inform our asset strategy, open pit design and the potential for an underground development, “he added.

In addition to the results at Las Bambas, the Company also released positive results from its current drilling program at the Rosebery mine.

The drilling program, which included underground and surface drilling has already resulted in several intersections, including mine lens extensions and the discovery of new mineralised zones.

“We have also accelerated our drilling program at Rosebery from January 2023 with the aim of discovering new mineralisation to support the extension to mining operations. Pleasingly, we are on target to ensuring a strong future for Rosebery,” Mr Li said.

“Rosebery remains a remarkable asset now in its 87th year of consecutive operations. While these results increase our confidence in Rosebery’s future, they confirm our pressing need to secure a safe long-term tailings storage solution,” he added.

For more details please download the Report of Exploration Results from Las Bambas and Rosebery.