OZ Mineral updates N. Sumatra gold project development and exploration

The following is an excerpt taken from OZ Mineral?s quarterly report released on Tuesday, updating its Martabe gold project, which is expected to start production late 2009 with annual output of 200,000 oz of gold. Ed)

Construction
Engineering activities continued to ramp up at the design office in Brisbane.

Construction of the access road through to the plant site area commenced in mid-July and reached the plant site area at the end of September. Upgrading will continue during the current quarter.

The tender for bulk earthworks and civil concrete was awarded. Contract execution with the prime contractor, Ausenco, was completed during the quarter. The mills, which were ordered in August 2007, remain on schedule for delivery later in 2009.

Exploration
Exploration work continued on two porphyry copper-gold targets within the Kapur Gambir district, 30 km SE of the Martabe project. Geological mapping at the Aek Gotting prospect reported extensive alteration with rock samples returning up to 19.3% Cu, 3.1g/t Au and 65g/t Ag. An IP geophysical survey commenced at the Tani Hill prospect to help define drill targets.

Drilling activities focused on further resource definition of the northern end of Barani deposit, and targeting extensions of the Purnama deposit to the north and at depth. Better results from Purnama include 7.5 m @ 4.3 g/t Au and 48.5 Ag.(end of excerpt)