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Minotaur Exploration Ltd.
Summary
| Project: | Eloise | |
|---|---|---|
| Deposit: | Jericho | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 11/7/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-11-2018: Minotaur Exploration Ltd. announces an Exploration/Drilling Update report for its Jericho deposit at the Eloise project. Drilling results incl. 10.1m @ 1.09% Cu, 0.19g/t Au from 305.9m. Minotaur Exploration Ltd (ASX: MEP, ‘Minotaur’) advises th | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Glen Little (Internal) | |
| ABSTRACT: | Minotaur Exploration Ltd (ASX: MEP, ‘Minotaur’) advises that drilling into the ‘Jericho’ copper-gold system is underway again for the Eloise JV, 60km southeast of Cloncurry, NW Queensland. The diamond rig has been diverted from regional EM targets to place 2 additional holes in Jericho (Figure 1), before the imminent wet season terminates feld activity. LEVEL 1, 8 BEULAH ROAD, NORWOOD, SOUTH AUSTRALIA 5067 T +61 8 8132 3400 F +61 8 8132 3499 E [email protected] www.minotaurexploration.com.au Objective The new holes will bring the total to 30 for around 13,500m at Jericho. One hole will look to extend the J1 zone north beyond hole EL18D22 (Figure 2). The other hole will drill into a 1km gap in J2 zone (Figure 3) to investigate if mineralisation persists through that area. If successful, those two holes will extend J1 to more than 3500m in length and give confdence that J2 extends for at least 2000m (and possibly up to 2500m) as is currently modelled on existing drill hole data (Figure 4). 1 Assays from upper levels of hole reported to ASX on 25 October 2018, Shallow high-grade copper zones in ‘Jericho’ Drillhole data compilation Assays for the lower part of drill hole EL18D301 (details herein) illustrate continuity of copper-gold mineralisation within the J2 structure. Results include 10.1m @ 1.09% Cu & 0.19g/t Au from 305.9m and 6m @ 1.89% Cu, 0.49g/t Au from 326m (Table 1). Modelling of drill holes into J1 and J2 shows remarkable continuity of both EM conductors along strike (Figure 4). The close spatial relationship between J1 and J2 is apparent, where the steep dipping structures are near parallel and merely 125-200m apart. Given the exceptional continuity of both structures sizeable potential remains for additional mineralisation up dip – towards top of basement where drilling is limited - and down dip beyond current drill levels. Based on this compilation, the joint venture has redirected the rig from regional target work back to Jericho to complete two holes before the annual wet season imposes. | |
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