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Minotaur Exploration hits copper zinc mineralisation at Gypsy Plains IOCG target

Minotaur Exploration hits copper zinc mineralisation at Gypsy Plains IOCG target

Drilling by Minotaur Exploration (ASX: MEP) at the Gypsy Plains IOCG target has unveiled an extensive sulphide-rich hydrothermal system.

The system has abundant veins and breccia zones rich in pyrrhotite and associated copper-gold mineralisation.

Highlights include hole MNDDH016 which intersected 12 metres at 0.33% copper (346–358 m downhole) and 4m at 2.15% zinc (200–204 m).

The identified basement conductors extend along strike for approximately 10 kilometres and further drilling will commence immediately after the current wet season.

The iron oxide copper-gold (IOCG)-style mineralisation in the Cloncurry area of northwest Queensland is being explored by Minotaur in a Joint Venture with Japan Oil, Gas and Metals National Corporation (JOGMEC).

Minotaur is manager for the JV which covers 546 km2, incorporating 14 tenements, and commenced in February 2010.

Assessment is continuing to ascertain if a more copper-rich portion is present within the hydrothermal system that apparently extends for over 10 kilometres to Cormorant and Cormorant North as per the “Eloise-style” mineralisation model.

Further targets at Cormorant and Cormorant North, developed from a combination of magnetic, gravity and electrical geophysical data, await drill testing in April.

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