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Minotaur Exploration Ltd

Minotaur Exploration Ltd (ASX:MEP) is listed on the Australian Securities Exchange.


Minotaur Exploration doubles kaolin resource and completes kaolin pilot plant

Tuesday, February 10, 2009 by Proactive Investors

Minotaur Exploration doubles kaolin resource and completes kaolin pilot plant

Minotaur Exploration (ASX:MEP) has advised of a doubling in Inferred Resource for the Carey’s Well high-grade kaolin deposit, wholly owned by Minotaur and located at Poochera on the far west coast of South Australia’s Eyre Peninsula.

In addition, the Company announces the completion of a pilot plant to test the quality and recovery rates for the enhanced deposit.

Kaolin resource doubled

Following an assessment of previous drill results, together with an additional six large diameter drill holes and confirmatory laboratory testing by Minotaur, an Inferred Resource of 20 million tonnes of “bright white” kaolinised granite has been estimated for the Carey’s Well deposit, previously reported as 9 million tonnes (Carey’s Well resource statement ASX release 2 May 2008).

The “bright white” kaolinised granite lies within a larger Inferred Resource of 47.2 million tonnes of white to off-white kaolin body that is approximately 4 kilometres long and 2 kilometres wide. The average thickness of this body is approximately 8.5 metres with a maximum thickness of approximately 20 metres. The resource has been defined by using qualitative data derived from logging of the 1 metre kaolin samples collected during drilling.

It is considered that further close-spaced resource drilling and analytical testing will improve the resource classification and may increase the size of the resource especially to the south and east.

Pilot Plant completed

The Company announced in October 2008 its intention to construct a pilot plant to be used to process the bulk samples collected during the 2008 drilling program. The tests would help determine the most appropriate processing technology for the deposit. The plant is designed to remove the quartz from the bulk samples of kaolinised granite. This yields a raw kaolin product which is then calcined (heated to about 9400C). Calcining produces a high value product suitable for paper coating and paint, rubber and plastic filler.

The plant is now complete and is awaiting final commissioning.

Minotaur holds investments in the following ASX listed companies:

Petratherm (ASX:PTR) – 18,437,501 shares (31.81%) plus 5 million options
Toro Energy (ASX:TOE) – 32,001,000 shares (5.76%)
Mithril Resources (ASX:MTH) – 8,900,000 shares (18.9%)
PlatSearch (ASX:PTS) – 8,750,000 partly paid shares (9.9%)
Activex (ASX:AIV) – 2,000,000 shares (6.6%) plus 1,000,000 options

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