Overland Resources Limited (ASX:OVR) Extension to Due Diligence Period for Anyox Copper Project

Overland Resources Limited (ASX:OVR) advises that, to allow it sufficient time to satisfactorily complete due diligence on the acquisition of 100% of the Anyox Copper Project in northern British Columbia, Canada, the vendors of the Project have agreed to extend the Company's exclusive option and due diligence period until 18 March 2012. This extension has been granted at nil cost to the Company.

The Project area 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.

In anticipation of the successful completion of due diligence and the execution of the definitive agreement the Company recently applied to Energy and Mines of British Columbia for an exploration permit. This will enable the Company to commence field operations and a drilling program shortly after the definitive agreement is executed.

See Anyox Copper Project map from the following link:
http://media.abnnewswire.net/media/en/docs/ASX-OVR-573096.pdf

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.

 

Related Companies

Overland Resources Limited