Proactive Investors - Run By Investors For Investors

Minotaur Exploration kicks off drilling at Aphrodite IOCG target

Minotaur Exploration kicks off drilling at Aphrodite IOCG target

Minotaur Exploration (ASX: MEP) has commenced drilling at the Aphrodite IOCG target, 35 kilometres southeast of Olympic Dam in South Australia, as part of its fourth quarter 2010 drill program.

The program also encompasses the Louth Base Metals Project, the Cloncurry IOCG Project, the Mutooroo Magnetite Project and the Border Base Metals Project.

Aphrodite is a significant, 6 kilometre-long, gravity-only target interpreted to represent a number of sub-vertical hydrothermal, haematite-rich breccias pipes.

Initial drillhole AS09D03 drilled to a depth of 804 metres in 2009, intersected highly altered basement rocks cut by late-stage veinlets containing carbonate, fluorite, haematite bornite and chalcopyrite.

Alteration and veining are indicative of a fertile IOCG hydrothermal system in the near vicinity.

Subsequent more detailed geophysical surveys resulted in a significant shift of the target and a new drillhole is now being collared 600m to the southwest of AS09D03.

Diamond drilling is expected to continue for approximately 3 weeks, followed by core cutting and assaying as appropriate.

On October 12, a gold assay of 56.4g/t Au was returned from surface rock chips samples by Minotaur 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.

MEP has a market cap of A$24.16 million and had A$4.12 million cash at the end of the June quarter.

View full MEP profile View Profile

Minotaur Exploration Ltd Timeline

Related Articles

March 07 2019
The manganese focused company’s $5 million capital raising will close on March 22.
A map of the Wa project in far northwest Ghana along the border with Burkina Faso
March 06 2019
The JV partners also plan to make an investment decision on the Ghanaian project this year.
A gold pour
February 27 2019
Metalla aims to leverage precious metal exposure by acquiring royalties and streams to build value for shareholders

© 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