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MINOTAUR EXPLORATION LTD

ASX: MEP

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Description

Minotaur Exploration Limited (Minotaur) is a public company listed on the Australian Securities Exchange Limited (ASX), under market code MEP. Its head office is located in Adelaide, South Australia. Minotaur is an Australian registered entity with Australian Company Number (ACN) 108 483 601 and Australian Business Number (ABN) 35 108 483 601. Minotaur has extensive exploration tenements in South Australia, New South Wales, Queensland and the Northern Territory and in Nova Scotia, Canada.

Poochera Kaolin Project, South Australia

Poochera kaolin has been validated as a world-class deposit. It exhibits many unique properties that will enable it to attract high value in certain kaolin markets such as polymers and coatings where functionality is required. This will make it more than able to compete in its 10 million tonne per year plus global market segments, particularly in the Asia/Pacific region where over 3 million tonnes of business can be targeted with a logistical advantage.

Analysis of the Poochera kaolin deposit, 100 kilometers south-east of Ceduna on South Australia’s Eyre Peninsula, has demonstrated the quality, purity and consistency of the Poochera mineralisation. Analysis was carried out across a range of specially selected grades from the pilot plant, primarily by the Ian Wark Research Institute at the University of South Australia and the CSIRO Land and Water, which are nationally recognised laboratories employing industry standard techniques. In the latest tests, the Poochera samples were subjected to comprehensive physical, chemical and mineralogical analyses to enable Minotaur to determine their conformance with key market determinants.

Nova Scotia - Canada

Minotaur Atlantic, a wholly-owned subsidiary of Minotaur Operations Ltd, is exploring for IOCG-style mineralisation on a large regional tenement package along the Palaeozoic Cobequid-Chedabucto Fault Zone, central Nova Scotia, Canada. Mineral assemblages within the region are rich in Fe-oxides (magnetite, specular haematite) and Fe carbonates (ankerite, siderite) and associated pyrite, chalcopyrite and barite. There is also an enrichment of Co and Ni, resulting in an overall elemental association of Fe, Cu, Co and Au. Minotaur has completed large regional and infill gravity surveys along with more detailed local survey over anomalies of interest. Geophysical modelling of potential drill targets has resulted in the prioritisation of 12 targets for drill testing. Project details were last updated May 2010.

Cowra Region - New South Wales

Minotaur Exploration together with Mitsubishi Materials Corporation and Mitsubishi Corporation is exploring for porphyry-related Cu-Au mineralisation and volcanic massive sulphides over 4 tenements held by Gateway Mining and/or 100% Minotaur. Tenements are located within the southern extension of the Ordovician volcanic belt that host the Cadia-Ridgeway Cu-Au Deposit. A major airborne VTEM survey in early 2009 defined a number of significant bedrock conductors that have been field checked, further evaluated by ground EM surveys. New target generation is ongoing.These project details were last updated May 2010.

Gympie Region - Queensland

Minotaur Exploration together with Mitsubishi Materials Corporation and Mitsubishi Corporation is exploring two tenements held by ActivEx Ltd in the Gympie region for Cu-Au mineralisation. Alteration styles recognised in recent drilling and the area reflect inner propylitic and advanced argillic alteration patterns which can be located either immediately above or proximal to a porphyry system. Drill testing of various geophysical targets has intersected persistent anomalous Cu-Au mineralisation. Project details were last updated May 2010.

Cloncurry Region - Queensland

Minotaur Exploration is building a significant tenement package north of Cloncurry in northwest Queensland. Exploration is for predominantly Mt Isa and Ernest Henry style Cu-Au mineralisation within basement units concealed by ~50-175m of Mesozoic sediments. Exploration by Minotaur has previously focussed on the Cormorant Prospect (EPM 8068) and its extensive breccias rich in pyrrhotite + magnetite along with some chalcopyrite. Despite various ground geophysical surveys and drilling programs, the nature of rocks causing prominent EM anomalies remains elusive. Further ground EM surveys are currently being undertaken at both the Cormorant Prospect and also new targets on other tenements. Considerable scope exists for the discovery of significant new IOCG-style deposits.

Aphrodite IOCG Target - South Australia

The Aphrodite Iron Oxide Copper Gold (IOCG) target is 35km south-east of the Olympic Dam mine and 13km south-east of the Wirrda Well Prospect.

Yorke Peninsula IOCG-REE Project - South Australia

A Joint Venture farm-in agreement with Red Metal Limited permits Minotaur to explore on EL3413 (Maitland). Together with Minotaur’s EL4435 (Whiting), the Yorke Peninsula Project provides a new opportunity to explore for rare earth element-enriched IOCG style mineralisation of the Moonta-, Poona- and Hillside-styles. Under the terms of the Joint Venture farm-in agreement with Red Metal, Minotaur can earn up to 70% equity in EL 3413 by spending six million dollars on exploration over eight years, and has committed to spend a minimum of $150,000 in the first year.

The project area hosts ductile-brittle shear zones that are considered prospective for structurally-controlled sulphide and magnetite-dominant IOCG mineralisation. Previous work by WMC, BHP, CRA, MIM and Red Metal has consistently encountered anomalous copper, gold, uranium and rare earth elements in soils and deeper drilling, spatially associated with the east to north-east trending shear zones. Significant intercepts in historic drilling include 12 metres @ 0.15% copper and 122 ppm uranium in DDH2, 10 metres @ 0.4% copper, 0.3% cerium in DD85WE1, and 2.6 metres @ 0.8% copper, 1.2% cerium in DD85WE6.

Minotaur has started its exploration by undertaking a series of ground electrical geophysical traverses to characterise the various responses of bedrock, shear zones and cover. The data are being assessed, with emphasis on the utility of airborne systems to accelerate exploration.

Border Base Metals Project - South Australia

The Border project on the Curnamona Craton is a joint venture between Minotaur Exploration and Sumitomo Metal Mining Oceania Pty Ltd, covering 9 tenements near Broken Hill. Exploration is for Cu-Au and for Broken Hill type Pb-Zn-Ag mineralisation. In 2009, a large airborne VTEM survey delineated several excellent bedrock conductors that were previously unknown. Anomalies near Record Dam and Birthday are concealed by shallow Quaternary sediments (<5m thick). A new JV programme of base metals exploration commenced in May 2010. The program includes ground electrical geophysical surveying of 34 line km at 9 targets, to be followed subsequently by drill testing. Minotaur Exploration also has a JV with BHPB on the Bonython Hill tenement (EL3521) where exploration for Broken Hill type Pb-Zn-Ag and Mutooroo type Cu-Co mineralisation is ongoing

MutoOroo Iron Project, South Australia

Extensive iron-rich siltstone beds are found proximal to the Border base metals program. The Mutooroo ironstones are magnetite- and hematite-bearing iron formations equated to the Braemar Ironstone facies of the Pualco Tillite and Benda Siltstone. In aeromagnetic imagery the Mutooroo Fe-stones appear as highly magnetic units. Initial JV exploration on a minor section of a single magnetic anomaly has identified the potential for extensive sediment hosted magnetite deposits. Interpretation of the magnetic imagery indicates that the magnetic rich strata extend for a strike length in excess of 40km through EL 3745, as shown in the following aeromagnetic image of the Mutooroo ironstones.

Tunkillia Gold Project, South Australia

The Tunkillia project occupies a significant strike portion of the regional Yaralbrinda Shear Zone. In 2009 a JORC resource of 803,000 ozs gold was estimated within the 223 deposit (refer Minotaur release to ASX dated 3 August 2009). In May 2010 drill testing of a number of new targets at four sites within a 3 km radius of the 223 Deposit was carried out. 1634 metres of RC drilling was completed in a range of favourable structural settings, geophysical settings, or soil and biogeochemical anomalism. Positive validation of Minotaur’s ground breaking biogeochemical trial was received. The Tomahawk target was the highest ranked of various prospects identified in 2009 from a bioflora survey by the University of Adelaide. Sampling of ‘black oak’ (Casuarina pauper) trees returned gold values of 11ppb, over twenty times greater than typical background values. Two reverse circulation drillholes were completed at this target, with hole LRC589 intersecting two intervals of gold mineralisation greater than 1 g/t.

Mine For

copper, gold, iron ore, uranium, zinc, lead, silver, cobalt, kaloin, rare earths

Location of operation(s)

South Australia, New South Wales, Queensland, Northern Territory, Canada

Address

247 Greenhill Rd
DULWICH, SA, AUSTRALIA

Phone

(08) 8366 6000

Email

Website


Last Updated

11/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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