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Minotaur Exploration drilling identifies thick magnetite intervals at Mutooroo

Minotaur Exploration drilling identifies thick magnetite intervals at Mutooroo

Minotaur Exploration (ASX: MEP) has established the presence of very thick magnetite-bearing sediments from a detailed drill traverse through the Mutooroo magnetite deposit.

The sediments are up to 750 metres thick, 10km wide and contain moderate to high degrees of magnetisation.

The Mutooroo magnetite project southwest of Broken Hill in South Australia is part of the Border Joint Venture between Sumitomo Metal Mining Oceania Pty Ltd (59.1%) and Minotaur Exploration (40.9%).

Five holes were drilled along an east west traverse at Muster Dam and two holes at Muster Catch near Mutooroo Homestead for a total of 1595m.

Test work is underway to determine the precise iron content for these glacial iron-bearing sediments.

The correlation of assays, DTRC, petrophysics and geophysics will follow to enable estimation of exploration target size and the finalisation of a detailed forward work program.

The Carpentaria Exploration (ASX: CAP) Hawsons Iron project, just west of Mutooroo, has a 'global project exploration target’ of 6 to 11 billion tonnes of magnetite.

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