Highlights:
Five scout holes now complete at ‘Jericho’ – all intersecting significant copper sulphide mineralisation.
- Mineralisation is continuous over 600m of strike and open in all directions
- Encouraging sulphides drilled at both ‘Arlington’ and ‘St Louis’
- Two rigs now operating at Jericho – drilling shallow profiles in extra three holes
- Drill assays expected within three weeks
Minotaur Exploration Ltd (ASX: MEP) has reported encouraging results from initial drilling undertaken by the Eloise JV in northwest Queensland.
The company said initial scout hole drilling continues to deliver with copper sulphides intersected in each of the EM conductors at Jericho, Arlington and St Louis.
Two rigs are now operating at Jericho, currently drilling up-dip of holes EL17D9 and EL17D10. A further hole, EL17D14, will probe the up dip projection of plate J3.
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The company said it has achieved excellent penetration rates daily and the current drill campaign is forecast to be complete by 8 December 2017.
Managing Director Andrew Woskett said Minotaur considers these results to be extremely encouraging, with mineralisation being revealed at multiple levels within multiple conductors, along a 300m section of Jericho.
With some 7km of aggregated conductor strike length untested, the potential to locate high grade zones within Jericho, just 5km from the Eloise mine, is apparent. Other nearby targets remain and further work at Arlington and St Louis is warranted.
The Eloise project, located 55km south-east of Cloncurry, is a joint venture between Minotaur and OZ Minerals Ltd. OZ Minerals may earn up to 70% beneficial 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.
