Proactive Investors - Run By Investors For Investors

Minotaur Exploration to form new public company to explore Thomson Fold Belt, NSW

Minotaur Exploration to form new public company to explore Thomson Fold Belt, NSW

Exploration in the poorly explored Thomson Fold Belt in north western New South Wales where Minotaur Exploration (ASX: MEP) has a joint venture with PlatSearch NL (ASX:PTS), just received a huge boost.  Minotaur and PlatSearch will form a new investment vehicle, Thomson Resources Ltd to explore the nine tenments held for gold and base metals.

The region is under explored due to ~100 m thick sedimentary cover. Since early 2007 the two companies have formed seven joint ventures to explore 10 exploration licences covering 2,229 square kilometres. Three holes intersected iron sulphides in the form of disseminated and vein pyrrhotite, and intervals of elevated geochemistry including high silver (up to 70.5 g/t Ag) and tungsten (389ppm), signifying that a metalliferous, hydrothermal system has been operative in the area.

The system may represent a NW extension of the Palaeozoic Cobar Basin which hosts major deposits as the world class Endeavour/Elura (Pb+Zn+Ag) and CSA (Cu+Pb+Zn).

Thomson Resources is proposed as the public company vehicle to fast track exploration in this region and both Minotaur and PlatSearch will seek to have Board representation and a significant shareholding in TMO.

Minotaur and PlatSearch now hold a dominant ground position within a belt that can be expected to generate new mineral discoveries provided sufficient, long term, well targeted exploration funding is focused into the region.

Minotaur also owns investments in listed companies: Toro Energy, Petratherm, Mithrill Resources, PlatSearch and ActivEX.

View full MEP profile View Profile

Minotaur Exploration Ltd Timeline

Related Articles

August 01 2018
Tungsten prices are on the rise and construction is proceeding apace at Barruecopardo
Gruyere Gold Project
January 15 2019
Aspiring miner Gold Road is hoping to produce 150,000 ounces a year for its investors.
Lithium cube
December 08 2018
The resource exploration and development company looks to supply the rapidly growing lithium-ion battery industry for both mobile devices and laptops, as well as the burgeoning electronic-vehicle industry

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use