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Minotaur Exploration Ltd.
Summary
| Project: | Scotia | |
|---|---|---|
| Deposit: | Saints | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 5/4/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-5-2017: Minotaur Exploration Ltd. announces a Resource Estimation report for its Saints deposit at the Scotia project. Initial mineral resource estimation for Saints deposit at Scotia. The Saints deposit, 65 km NNW of Kalgoorlie, is an Archaean Kambalda | |
| Resources: | (Resource, Inf.): 1.05Mt @ 2.0% Ni for 21000t Ni contained at Saints | |
| CP/QP: | [Resources]: Shaun Searle (RungePincockMinarco Ltd.) | |
| ABSTRACT: | The Saints deposit, 65 km NNW of Kalgoorlie, is an Archaean Kambalda-style, komatiite-hosted, massive nickel sulphide deposit. Anomalous nickel was first highlighted by Asarco in the 1970’s by shallow RAB drilling however it wasn’t until 1996-1997 that the first RC and diamond drill holes, drilled by WMC, penetrated what is now part of the Saints nickel resource. Various companies drill tested the deposit through to 2011 and prior to Minotaur acquiring ownership in 2013. Historic drilling allowed mineralisation to be defined to around 480 metres below surface. The historical data was compiled and reviewed by Minotaur and further reviewed and then modelled by RPM Holdings Limited (RPM, formerly RungePincockMinarco Limited) in March -April 2017, providing Competent Person preparation of the maiden Mineral Resource estimate. The maiden Mineral Resource estimate for the Saints nickel deposit was prepared and reported by RPM according to JORC 2012 guidelines. The total Resource, a compilation of the Saint Andrews, Saint Patricks and Western Contact deposits, all classified as Inferred and reported above 1.0% Ni cut-off, contains 1.05Mt @ 2.0% Ni for 21,000 tonnes of nickel, 0.2% Cu for 1,600 tonnes of copper and 0.06% Co for 600 tonnes of cobalt. Minotaur welcomes this outcome, bringing context to the Saints deposit through the issue of a JORC resource estimate. The Company reiterates its focus on copper-gold discovery and notes recent progress in divestment of non-core assets, such as the nearby Chameleon gold deposit and nickel rights at West Kambalda. The Saints deposit is such an asset and is ranked as available for sale. | |
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