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Minotaur Exploration Ltd.
Summary
| Project: | Scotia | |
|---|---|---|
| Deposit: | Chameleon | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-7-2016: Minotaur Exploration Ltd. announces a Resource Estimation report for its Chameleon deposit at the Scotia project. Initial mineral resource estimation for Chameleon gold deposit at Scotia project. Chameleon was identified as a gold prospect in 1 | |
| Resources: | (Resource, Inf.): 1.1Mt @ 2.1g/t Au for 77000oz Au contained at Chameleon | |
| CP/QP: | [Resources]: Shaun Searle (RungePincockMinarco Ltd.) | |
| ABSTRACT: | Chameleon was identified as a gold prospect in 1997 and subsequently drill tested by various operators. Numerous drilling programs defined mineralisation to around 290m vertical depth below surface. Minotaur conducted a limited RC program in June 2016 to verify historic data and improve understanding of the deposit. The data was reviewed and modelled further by RungePincockMinarco Limited (RPM) in July 2016, providing Competent Person preparation of the maiden Mineral Resource estimate. The Maiden Mineral Resource estimate for the Chameleon gold deposit was prepared and reported by RPM according to JORC 2012 guidelines. The total Resource, all classified as Inferred and reported above 1.0 g/t Au cut-off, contains 1.1Mt @ 2.1 g/t Au for 77,000 ounces of gold. The Resource reports a set of oxidized lodes extending from surface, transitioning at 80-100m vertical depth to primary mineralization modelled to 290m below surface. The Chameleon gold deposit is located 70km northnorthwest of Kalgoorlie and 7km east of the Goldfields Highway (Figure 1) and within 20km of the goldfields gas pipeline to Kalgoorlie. The resource is sited on E29/661, part of the Scotia group of tenements. Material information used to estimate and report the Mineral Resource as per the JORC 2012 Code Reporting Guidelines is presented in detail in Table 1 of Appendix 1. The information below is presented as per the requirements of ASX Listing Rule 5.8.1 for a Maiden Resource Estimate and explains the main aspects of the resource estimation process. | |
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