Mineral exploration company Minotaur has told the Australian Stock Exchange it has initiated field work at its Highlands copper project near Mount Isa.
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The company told the ASX they had completed the acquisition of Highlands tenements to bolster their base metals exploration portfolio.
Minotaur said initial field assessment over several VTEM anomalies shows surface geology to be mineralised with site establishment work underway for electromagnetic surveys to proceed in August and a 1200m drilling program of scout RC holes in September.
Minotaur purchased the nine exploration permits of the Highlands project from Syndicated Metals Ltd in a deal worth $125,000 in cash and $275,000 in shares.
The tenements cover 776 sq kms located 50km northeast of Mount Isa and 80km northwest of Cloncurry, straddling a major geological boundary between the Kalkadoon-Leichhardt Domain to the west and the Eastern Domain to the east separated by the regional-scale Mt Remarkable Fault.
Minotaur said only 67 holes had been drilled on the tenements of which only five extended deeper than 200m and copper sulphide mineralisation is known to occur in the area, notably at nearby Barbara deposit, owned by Round Oak.
Minotaur is looking at three key targets ‘Coolibah’, ‘Gospel’ and ‘YM8’ none of which have been previously drilled.
Minotaur’s managing director Andrew Woskett said they were actively building their base metals exploration portfolio in Queensland and South Australia, primarily where copper potential prevails and also where zinc-lead systems are prevalent.
“Minotaur successfully combines surface geophysical tools and geological interpretation of obscured basement mineralisation in the Cloncurry copper belt resulting in identification of ‘blind’ base metal occurrences,” Mr Woskett said.
“These techniques are to be applied to known, near-surface copper prospects at Highlands enabling their refinement to drill ready status for reconnaissance drilling.”
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
