The Eloise Joint Venture between Minotaur and Oz Minerals say they are encouraged by a newly acquired tenement south-east of Cloncurry.
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Minotaur told the ASX the new tenements named "Big Foot" and "Little Foot" would deliver strong geophysical footprints for the Eloise Joint Venture.
Minotaur said they were particularly excited by a large, highly conductive electro-magnetic response modelled at 'Big Foot', located under cover along strike from proven copper-gold mineralisation.
The 2020 JV field season was initiated mid-March with a three-week ground EM geophysical survey conducted over the Big Foot EM anomaly.
The anomaly had been identified in late in 2016 as a strong of-line conductor peripheral to the Iris-Electra EM response.
Drilling at Iris-Electra in 2016 and 2017 successfully intersected Eloise-Jericho style copper-gold mineralisation however the tenement predominantly hosting Big Foot was then owned by a third party and it could not be meaningfully investigated until recently, when Minotaur secured the ground.
Modelling of the new EM data indicates Big Foot has a strike length of 1.5km, depth extent of +500m and high conductance.
A second smaller conductor, 'Little Foot', lies of the southern end of Big Foot with a modelled strike length of 350m, depth extent of 75m and very high conductance of 6300 Siemens.
Minotaur managing director Andrew Woskett said the Joint Venture was highly encouraged by these results, especially given the large size of Big Foot relative to the nearby Electra and Iris copper-gold mineralised systems.
Mr Woskett said Big Foot and the Seer EM anomaly defined in a 2018 electromagnetic survey were high-priority targets ready for drilling.
"Both targets were scheduled for drill investigation in May this year however field activities will be delayed due to cross-border travel and access restrictions imposed by the State Government around the COVID-19 pandemic," he said.
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