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Minotaur Exploration Identifies New Windsor JV Anomaly

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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.

 

Email: admin@minotaurexploration.com.au

Web: www.minotaurexploration.com.au

 

Minotaur Exploration Encounters Further Jericho Copper

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THE DRILL SERGEANT: Minotaur Exploration (ASX: MEP) encountered copper-gold intersections from the Jericho target at the Eloise project, located 60 kilometres southeast of Cloncurry, in northwest Queensland.

The Eloise project is a Joint Venture between Minotaur and OZ Minerals (ASX: OZL).

In the lead up to the Brisbane Mining 2018 Conference, Minotaur Exploration said recent drilling was carried out at Jericho, positioned close to the Eloise mine that has now paused for compilation of the drill database.

The drill rig has moved on to test other regional ground EM targets until the ‘wet season’ imposes field activity shutdown in November.

Since the start of drilling into the Jericho EM anomalies in October 2017 the JV has completed 28 holes, of which assays for six (EL18D20-EL18D25) from J1 and J2 zones have been delivered.

Results include:

J1

EL18D20
30 metres at 0.42 per cent copper, 0.11g/t gold from 298m, including 1m at 1.43 per cent copper, 0.03g/t gold and 2m at 1.93 per cent copper, 0.86g/t gold;

EL18D21
20m at 0.14 per cent copper, 0.07g/t gold from 327m;

EL18D22
36m at 0.32 per cent copper, 0.11g/t gold from 170m, including 6m at 1.02 per cent copper, 0.23g/t gold, and
14m at 1.27 per cent copper, 0.09g/t gold from 333m, including 6m at 2.65 per cent copper, 0.13g/t gold;

EL18D23
21m at 1.39 per cent copper, 0.3g/t gold from 289m, including 11m at 2.05 per cent copper, 0.41g/t gold, and
12m at 0.57 per cent copper, 0.08g/t gold from 320m, including 1m at 2.85 per cent copper, 0.1g/t gold and 2m at 1.37 per cent copper, 0.37g/t gold;

EL18D24
26m at 1.45 per cent copper, 0.21g/t gold from 162m, including 12m at 2.23 per cent copper, 0.3g/t gold and 1m at 5.61 per cent copper, 0.84g/t gold; and

EL18D25
17m at 0.34 per cent copper, 0.04g/t gold from 190m and 10m at 0.41 per cent copper, 0.1g/t gold.

J2

EL18D23
20m at 1.1 per cent copper, 0.21g/t gold from 645m, including 2m at 1.57 per cent copper, 0.17g/t gold and 9m at 1.98 per cent copper, 0.4g/t gold;

EL18D24
13m at 0.32 per cent copper, 0.11g/t gold from 369m; and

EL18D25
23m at 0.7 per cent copper, 0.29g/t gold from 400m, including 5m at 1.91 per cent copper, 1.12g/t gold.

“Numerous conductors were identifed mid 2017 as part of the ‘Route 66’ survey, however many were not drilled due to early success at Jericho elevating it to be the primary focus,” Minotaur Exploration said in its ASX announcement.

“The new drill program comprises 13 holes for 4,750m examining ‘Defance’ (to follow up on 1 hole drilled into Defance previously), ‘Bagdad’, ‘Pasadena’, ‘J4’, ‘Clementine’, ‘Winona’ and ‘Navajo’ targets.

“Drilling will operate around the clock until the campaign concludes in November.”

 

Email: admin@minotaurexploration.com.au

Website: www.minotaurexploration.com.au