The owners of the Jericho deposit near Cloncurry say the prospect continues to reveal strong copper values as ts first drill assays for 2019 become available.
In a release to the ASX last week, Adelaide-based explorer Minotaur said they had drilled 46 holes into Jericho copper deposit since April, with two rigs operating.
"Assays for 13 holes replicate earlier strong copper-gold results," Minotaur managing director Andrew Woskett said.
Minotaur is testing parallel copper-gold lodes to around 250-300m and said the aim was to improve geological confidence in lode continuity and grade along the two strikes where most drilling activity occurred in 2018.
"Importantly, continuity of mineralisation through the host structures is strong," Mr Woskett said.
Mr Woskett said Minotaur would continue to drill with two rigs operating on a 24/7 basis until completion of the current campaign, around end July and say assay results will be available on a regular basis.
The Jericho deposit is in the Eloise Joint Venture tenement located 60km southeast of Cloncurry, near Eloise copper mine.
Eloise is a JV between Minotaur and Oz Minerals with Minotaur manager and operator of the joint venture.
Oz Minerals owns 80% and partner Minotaur the other 20%.
Oz Minerals have already sunk $10m into the project in three years and in May they said they would pump another $3 million into it as Minotaur expand exploration into nearby tenements.
READ ALSO: New lease of life planned for disused hall
While you are here subscribe to our weekly email to your inbox at 6am every Friday