Adelaide-based Minotaur Exploration Ltd has begun drilling at its recently acquired Highlands project northeast of Mount Isa.
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Minotaur has told the ASX that drilling was intended to test strong ground EM anomalism contained within broader VTEM targets ‘Gospel’ and ‘Coolibah’.
Minotaur said rock chip samples from Gospel and Coolibah provide strong geochemical indications the EM conductors may be associated with sulphide mineralisation.
Three drill holes at 1200m are planned to test the Gospel conductor with two more at Coolibah.
The Gospel holes are targeting Iron-Sulphide-Copper-Gold style mineralisation and Minotaur said the geochemical, geological and geophysical features at Gospel shows strong similarities with the nearby Barbara copper-gold deposit, owned by Round Oak Minerals, a subsidiary of WH Soul Pattinson.
A diamond rig has collared the first hole, expected to be complete by late October.
The news follows on from last month’s announcement the inaugural ground work at Highlands was looking good. Minotaur told the ASX it was is actively building its 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 of north-west Queensland, resulting in identification of ‘blind’ base metal occurrences,” the company said.
“These techniques are being applied to known, near-surface copper prospects at Highlands enabling their refinement to drill ready status and have generated viable targets for reconnaissance drilling.”
In July Minotaur bought the nine permits of the Highlands Project from Syndicated Metals Limited.
The tenements, covering 776 sq km are located 50km northeast of Mount Isa and 80km northwest of Cloncurry.
Minotaur paid $125,000 in cash plus $275,000 in shares on completion of the purchase.
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