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

Copper Blow project on an Australian map
February 07 2019
Exploration is ongoing at Copper Blow where the company aims to establish a resource.
North Carolina sign
February 08 2019
Piedmont Lithium has been buying up land in North Carolina to extend the size of the Piedmont project.
Drilling at Gabanintha project
February 05 2019
The company expects a ‘material’ increase in vanadium resources and will also publish a base metals resource.

© 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