Oz Minerals (ASX:OZL) and joint venture partner Minotaur Exploration are set to expand exploration activity across their Eloise joint venture in Queensland.
The company says round the clock drilling since April this year reveals consistent and wide spread copper-gold intersections at Jericho which is 3 kilometres south of the Eloise copper mine.
Based on the results at Jericho OZ minerals is expanding its investment adding $2 million to work the campaign through to the end of 2018.
Minotaur says Oz Minerals solid support has given tremendous impetus to its prospecting and their decision to expand their investment is another endorsement.
Shares in Oz Minerals (ASX:OZL) are trading 0.11 per cent lower to $8.89