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Minotaur Exploration Ltd.
Summary
| Project: | Highlands | |
|---|---|---|
| Deposit: | Gospel | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 12/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-12-2018: Minotaur Exploration Ltd. announces an Exploration/Drilling Update report for its Gospel deposit at the Highlands project. Drilling results incl. 19m @ 0.28% Cu, 0.04g/t Au from 156m. Minotaur Exploration Ltd (ASX: MEP, ‘Minotaur’) has been awa | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Glen Little (Internal) | |
| ABSTRACT: | Minotaur Exploration Ltd (ASX: MEP, ‘Minotaur’) has been awarded a Collaborative Exploration Initiative (CEI) grant, up to the value of $251,000, by the Geological Survey of Queensland (GSQ) for its 100% Highlands project, located 50km northeast of Mount Isa in northwest Queensland (Figure 1). The grant coincides with cessation of inaugural drilling at the Gospel copper prospect and paves the way for new airborne and ground Electromagnetic (EM) surveys in 2019. CEI Grant Minotaur has been awarded exploration funding, from the Queensland Government’s Collaborative Exploration Initiative (CEI), for a airborne and ground EM geophysical surveys at the Highlands project (Figure 2). Minotaur will receive up to $251,000 towards the survey (75% of the estimated survey cost). The survey will cover 3 main areas targeting geological units considered prospective for conductive Iron Sulphide Copper Gold (ISCG) style mineralisation similar to that ubiquitous at Jericho for the Eloise JV. The survey is expected to commence early in 2019 after the northern wet season abates. The CEI grant recognises Minotaur’s discovery expertise coupled to copper prospectivity across the Highlands tenement package. First Pass Drilling Results at Gospel Three drill holes, HL18RC02-HL18RC04, tested strong ground EM conductors at Gospel (Figure 3) each returning anomalous copper and gold intercepts, as included below and detailed in Table 1. Mineralisation was intersected at the targeted position in holes HL18RC02 and HL18RC03, however the overall conductive sulphide content in each hole does not appear to adequately explain the strong conductor. Mineralisation in hole HL18RC04 is best developed in a strongly weathered fault zone well above the targeted EM conductor position where only minor sulphide was intersected. | |
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