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Minotaur Exploration Ltd

Minotaur Exploration has high hopes for two major copper-gold drill campaigns

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Minotaur Exploration Ltd (ASX:MEP) has commenced two major drill campaigns for copper-gold mineralisation for 2009. 

- at the Booubyjan Project west of Gympie in eastern Queensland,
- at the Douglas Project east of William Creek in northern South Australia.

At Booubyjan, (Minotaur 51%, ActivEX 49%), the work program drill test the central Booubyjan alteration systems to significantly greater depths than previously attempted, within the core of the system.

Mitsubishi Corporation and Mitsubishi Materials Corporation will fully fund the 2009 exploration programme of $650,000 at Booubyjan.  Mitsubishi has an option to earn 24% in the project.

Up to six holes are planned - a program of four holes in the Bath-White Horse area and two holes in the Kakapo area for a total of 2950 metres.

At Douglas, Minotaur has a Right to Explore and Option to Purchase Agreement with Rio Tinto (ASX:RIO).  Drilling will test a large, untested gravity target on this eastern edge of the Gawler Craton in South Australia. The region is characterized by very little past exploration.

The company believes strong similarities exist between this region and deposits such as Mt Isa and Ernest Henry of western Queensland, and Prominent Hill (125 km to the southwest) and Olympic Dam (200 km to the south).

The Douglas Target remains one of the largest untested gravity targets on the Gawler Craton. Minotaur will be drill testing this target utilising assistance from PIRSA, under its PACE Initiative to assist regional mineral exploration programs.

Quick facts: Minotaur Exploration Ltd

Price: $0.06

Market: ASX
Market Cap: $20.06 m
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