Proactive Investors - Run By Investors For Investors

Minotaur Exploration awarded A$50,000 grant to accelerate drilling at Copper Lake

Minotaur Exploration awarded A$50,000 grant to accelerate drilling at Copper Lake

Minotaur Exploration (ASX Code: MEP) has been awarded a A$50,000 grant by the Nova Scotia Department of Natural Resources which will allow the company to accelerate plans to drill test the Copper Lake iron oxide copper-gold (IOCG) target.

Drilling is scheduled to begin on 17 September, with the grant supporting 50% of the eligible costs related to geophysical surveys and drilling of the target.

Minotaur, through its wholly owned subsidiary Minotaur Atlantic Exploration, has an agreement with Blackfly Exploration and Mining, whereby Minotaur will fund exploration on EL 6914 under a three year option to purchase.

The exploration licence comprises nine mineral claims centred on the historic Copper Lake workings in Antigonish County, Nova Scotia.

At Copper Lake, historic mining of high grade (above 5%) chalcopyrite mineralisation associated with iron carbonate and iron oxide veining and brecciation is considered a prime indicator of the IOCG style of mineralisation along the Cobequid-Chedabucto Fault Zone.

From 2007 to 2010, Minotaur undertook regional exploration along the entire Cobequid-Chedabucto Fault Zone based around a modified IOCG model.

A large number of targets were generated through systematic regional and infill gravity surveys along an over 300 kilometre corridor.

The Copper Lake gravity target was defined some 400 metres to the southeast of the historic workings.

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

View full MEP profile View Profile

Minotaur Exploration Ltd Timeline

Related Articles

January 30 2019
The company is expanding Cue’s existing gold deposits as it defines the newly-discovered Lake Austin North gold system.
November 05 2018
Historical high-grade ore stockpiles present an early cashflow opportunity.
February 27 2019
The cash flow provides ballast against dilution, allowing the company carefully to consider each new opportunity on its merits

© 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