A gold assay of 56.4g/t Au was returned from surface rock chips samples by Minotaur Exploration (ASX: MEP) at Lisle's Reef at the Mt Tarrengower prospect at Maldon in Victoria - lending credence to a drill program to test Lisle's Reef below the old workings.
Assays from 21 out of 22 chip samples from the mineralised outcrop returned anomalous gold grades, with the second most significant 11.2g/t Au.
Minotaur recently entered into an Option Agreement with Mining Projects (ASX: MPJ) to explore and, at Minotaur’s election, subsequently acquire Xplor Pty Ltd, a wholly owned subsidiary of Mining Projects.
Xplor is the owner of exploration licence EL 4533 at Mt Tarrengower.
Minotaur intends to now conduct further intensive surface mapping and sampling around the Mt View/Lisle’s Reef area, to finalise optimum collar locations for drillholes to test the deeper potential of the Lisle’s Reef system.
The Mt View/Lisle’s Reef area historically produced about 68,000 ounces of gold to a depth of 60 vertical metres from a number of shafts and workings along a mineralised ridge line extending for over 1km, up to the summit of Mt Tarrengower.