Assays have confirmed wide copper-gold intersections for the Minotaur Joint Venture near Cloncurry
Minotaur Managing Director Andrew Woskett said the first reconnaissance drill program has been highly successful, locating copper-gold mineralisation very similar in style to that developed at the nearby Eloise copper-gold deposit, associated with extensive basement EM conductors.
The drilling update on the Eloise JV was provided In their latest ASX release.
The company said ten holes were complete including eight holes at Jericho and one hole each at ‘Arlington’ and ‘St Louis’, all testing electromagnetic conductors located along the southern Levuka Shear Zone close to the Eloise copper-gold mine.
Minotaur said drilling was now suspended due to the imminent wet season.
“This first reconnaissance drill program has been highly successful locating copper-gold mineralisation,” Mr Woskett said. “It is very similar in style to that developed at the nearby Eloise copper-gold deposit, associated with extensive basement EM conductors.”
Jericho comprises multi-plate EM conductors covering combined 8km of strike. Eight holes are now complete; a single hole toward the southern end of the J1 conductor and seven holes in the central part of the anomaly testing the J1, J2 and J3 conductors.
A hole drilled at Arlington did not return any copper values of significance.
Visual estimates of copper sulphide content in four holes at Jericho were reported recently and assays for these holes will be available over the next two to three weeks.
A drill hole targeting the J3 conductor at Jericho is complete and intersected stringer, vein and crackle breccia hosted pyrrhotite-chalcopyrite around 300m. Visual estimates indicate the average chalcopyrite content over the interval is above one percent.
The Eloise tenements, 55km south-east of Cloncurry, are subject to a farm-in joint venture between Minotaur and OZ Minerals Ltd seeking Eloise-style copper-gold and Cannington-style silver-lead-zinc.