THE DRILL SERGEANT: Minotaur Exploration (ASX: MEP) completed an IP-resistivity geophysical survey on behalf of the Windsor Joint Venture, an area that includes 175 square kilometres of the Trooper Creek Formation, host to numerous high-grade base metal VMS occurrences including the Thalanga and Highway Reward deposits in Queensland.
The Windsor JV is located 200km south-west from Townsville in north east Queensland and is a Joint Venture between Minotaur and the private tenement holder.
Having achieved its initial expenditure obligation of $400,000 Minotaur may proceed to earn up to 80 per cent interest in the tenements through total expenditure of $4 million over a five year earn-in phase.
The recently completed IP survey returned encouraging results defining a large, very strong IP chargeability anomaly under thin cover along more than three kilometres of strike.
“The anomaly has been named Hastings,” Minotaur Exploration said in its ASX announcement.
“Modelled IP chargeability responses vary, but over the main part of the anomaly on lines 4 and 5, range from 35 to 50msec which is very strong.
“These three lines also have coincident low resistivity responses.
“VMS-type deposits worldwide, typically, have strong chargeability and low resistivity responses due to their high sulphide content (other geological features such as graphitic shale can also produce similar responses).”
Minotaur Exploration indicated that planning for a first-pass drill test is underway.
Thalanga was initially discovered in 1975 and at the time generated intensive exploration activity through until the early 1990s, however there has been very limited exploration conducted since.
Minotaur pointed out that little effort has been directed to the covered portions of the project area.
Part of Minotaur’s strategy for target generation across the Windsor JV area is that substantial portions of highly prospective basement remain untested.
The company considers modern electrical geophysical systems to be now better suited to these types of terranes providing opportunities to investigate areas of basement not previously explored.
The company has already used this approach in the Cloncurry district, making its discovery of the Jericho copper-gold deposit in late 2017.