The Eloise joint venture has recommenced drilling at the Jericho copper discovery with drilling operations expected to continue over next four months during the North West Queensland dry season.
The joint venture between Oz Minerals and Adelaide-based explorer Minotaur is launching a . 21,000m drill program for over 80 holes focusing on central section of Jericho, 60km southeast of Cloncurry.
Minotaur say their drill program should lead to an inaugural JORC resource estimate.
They told the Australian Stock Exchange Jericho drilling would probe the parallel J1 and J2 copper lodes using two multi-purpose rigs operating 24/7, with 21,000m of drilling planned to a vertical depth of 300m concentrating on the central sections of each structure.
"The drill program is intended to improve geological confidence in lode continuity and grade by closing existing hole spacings and is expected to enable estimation of an inaugural JORC resource for that portion of Jericho," Minotaur managing director Andrew Woskett said.
"Around 80 to 90 holes are planned within the central Jericho zone, a portion of a broader mineral system as defined by drilling in 2018."
Mr Woskett said significant additional areas of mineralisation had been defined along Jericho, on both J1 and J2, outside of the current drill envelope.
"Those areas remain relatively sparsely drilled, show good geological continuity with strong copper-gold grades and are expected to be the subject of future drill programs," he said.
"Drilling will continue through into July and is being managed and operated by Minotaur on behalf of the JV."
According to the terms of the Eloise joint venture, Oz Minerals had had attained 70% beneficial interest tenements to March 2019 through investment of $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.
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