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Minotaur Exploration Ltd.
Summary
| Project: | Eloise | |
|---|---|---|
| Deposit: | Jericho | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 1/24/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-1-2018: Minotaur Exploration Ltd. announces an Exploration/Drilling Update report for its Jericho deposit at the Eloise project. Drilling results incl. 25m @ 1.08% Cu, 0.23g/t Au from 132m. The Eloise project, 55km south-east of Cloncurry, is a joint v | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Glen Little (Internal) | |
| ABSTRACT: | The Eloise project, 55km south-east of Cloncurry, is a joint venture (‘Eloise JV’) between Minotaur and OZ Minerals Ltd (ASX: OZL). OZ Minerals may earn up to 70% benefcial interest in the tenements by spending up to A$10 million. The Eloise JV is seeking Eloise-style copper-gold and Cannington-style silver-lead-zinc mineralisation, with both styles evident in the well-endowed mineral camp around the Eloise, Altia and Maronan deposits (refer to Figure 1). With remaining assays now available for recent drilling along the Jericho system a full compilation of results is provided on behalf of the Eloise JV, northwest Queensland. Eight drill holes at Jericho successfully tested part of a series of sub-parallel electromagnetic (EM) conductors along the southern Levuka Shear Zone, close to the Eloise copper-gold mine (Figure 1). Jericho comprises multi-plate EM conductors with the J1, J2 and J3 conductive zones covering combined 8km of strike (Figure 2). One hole tested the southern end of J1 and 7 holes in the central section of the anomaly tested parts of the J1, J2 and J3 conductors. Copper-gold intersections at multiple locations along 300m of strike within the J1 and J2 conductors confrm the pervasive nature of mineralisation (Figure 3-5). Results to date are on par with early drill holes prior to discovery of the nearby Eloise deposit by BHP, providing guidance that Jericho exhibits potential to host a similar scale deposit. The information now assembled provides valuable input for development of a robust geological model, the beneft of which will direct the next round of drilling to follow cessation of the wet season. With some 7km of the known conductors yet to be drill tested, plus numerous other conductors not yet drilled, the 2018 feld season ofers substantial discovery upside. | |
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