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Minotaur Exploration Ltd.
Summary
| Project: | Eloise | |
|---|---|---|
| Deposit: | Jericho | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 6/14/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-6-2018: Minotaur Exploration Ltd. announces an Exploration/Drilling Update report for its Jericho deposit at the Eloise project. Drilling results incl. 44m @ 1.04% Cu, 0.5g/t Au from 159m. Minotaur Exploration Ltd (ASX: MEP, ‘Minotaur’) reports assays | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Glen Little (Internal) | |
| ABSTRACT: | Minotaur Exploration Ltd (ASX: MEP, ‘Minotaur’) reports assays from step-out drilling along the Jericho ‘J1’ conductor at the Eloise JV southeast of Cloncurry, Queensland (Figure 1). Results demonstrate J1 is a +3km long copper-gold mineralised structure. The new assays, reinforcing 2017 inaugural results from J1 and J2 North (Figure 2), support the joint venture’s view that Jericho is an expansive copper-gold system with potential to host an orebody similar to the nearby Eloise mine. Drilling remains widely spaced, at 150m in the central part of J1 and at J2 North and 200m- 830m further north and south on J1 (Figure 2), leaving large areas of the system still untested with ample gaps for possible ore grade lodes to reside. Moreover, most of the modelled EM conductors have substantial vertical extent (between 300m and 1000m below surface), well beyond the current depth of drilling, indicating Jericho’s down-dip potential. The joint venture has endorsed an extension of the present drilling campaign, beyond the current 5000m plan, nearing completion on the J2 & J3 targets (see discussion below). The rig will be retained on site for an additional 1700m and will close in gaps along J1. J2 South and J3 The rig is now probing J2 South and J3 conductors at Jericho. J2 South is a new anomaly, revealed through the recent infll ground EM survey. The conductor appears to lie in the same structural position as the J2 North conductor (Figure 2). It has modelled strike length of 500m, strong conductance of 3000S and depth to top of 50m below surface. The plate will be tested with one drill hole that will also push through and test the J3 conductor at depth. Elsewhere at J3, three drill sites will test the geochemical signature of that conductor along 2.3km of strike; the plate targets have very strong modelled conductance of between 4000-4500S | |
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