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Minotaur Exploration Ltd.
Summary
| Project: | Scotia | |
|---|---|---|
| Deposit: | Chameleon | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/4/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-7-2016: Minotaur Exploration Ltd. announces an Exploration/Drilling Update report for its Chameleon deposit at the Scotia project. Drilling results incl. 11m @ 4.6g/t Au from 75m at Chameleon deposit. Gold assays have been received from 12 holes recentl | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Glen Little (Internal) | |
| ABSTRACT: | Gold assays have been received from 12 holes recently drilled at the Chameleon gold deposit, testing approximately 275m of strike length to 150m below surface. Assays were also returned from one historic core hole (LSGD0010 drilled by Scotia Nickel Ltd in 2005) that was previously only partially sampled; this hole intersected the Chameleon gold zone at approximately 200m below surface. Of the 12 drill holes, 1 hole (16RCCM010) was abandoned before reaching full target depth due to unfavorable ground conditions. 5 holes returned attractive assay results for gold (Figure 2). Historic hole LSGD0010 also returned positive gold values over a 2m interval. Results below are given as downhole intercepts and use 0.5g/t Au cut-off. Detailed drillhole information is presented in Table 1. Gold mineralisation primarily occurs within a steeply dipping shear zone between ultramafic and mafic volcanic units hosting quartz veining and silicification (Figure 3). The better gold grades and widths are mostly developed in the central portion of the deposit where the mineralisation is relatively coherent and remains open down-plunge to the south (Figure 2). These encouraging drill results confirm internal continuity of the lodes and down-plunge extrapolation potential. Results are being incorporated into the database with the objective that an inaugural JORC 2012 standard resource estimate may be published by the end of July 2016. | |
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