logo-loader
Mining
Minotaur Exploration Ltd

Minotaur Exploration and Falcon Minerals join forces in the Cloncurry district

au_australia_map_350_51abe04b379ae.jpg

Minotaur Exploration (ASX: MEP) and Falcon Minerals (ASX: FCN) are set to explore for copper-gold mineralisation on two Falcon tenements in the Cloncurry district of northwest Queensland.

The joint venture expands Minotaur’s operations within Australia’s premier iron oxide copper-gold (IOCG) province, while advancing some of Falcon's interests.

Covering EPM 18289 and EPMA18313, the joint venture allows Minotaur to earn a 51% interest by spending $250,000 over 2 years or a 75% interest by spending a total of $750,000 over a total period of 5 years.

The tenements cover 165 square kilometres in area prospective for structurally controlled IOCG mineralisation of the Ernest Henry, Eloise and Osborne styles.

EPM 18289 is located 20 kilometres southwest of Ernest Henry Mine, and in close proximity to two Minotaur tenements, EPM 19205 and EPMA 19775.

Minotaur held $9.3 million in cash at the end of March 2013. Minotaur last month entered into a binding Sale and Purchase Deed with Breakaway Resources (ASX: BRW) to acquire 14 tenements in Western Australia for $600,000 plus GST.


Exploration to kick-off

Minotaur said that a combined exploration program will commence on the granted tenements with initial emphasis on gravity, EM and IP surveys over selected, variably magnetite-dominant targets along the margins of, and selected structural conduits to, Williams-Naraku granitic intrusions.

Particular attention will focus on the Tino, Neutrino, Taurino, Mindino and Marino gravity +/- magnetic features.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Minotaur Exploration Ltd

Price: $0.06

Market: ASX
Market Cap: $20.06 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Minotaur Exploration Ltd named herein, including the promotion by the Company of Minotaur Exploration Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Minotaur Exploration reveals high-grade copper shoots at Jericho JV

Minotaur Exploration Limited (ASX:MEP) managing director Andrew Woskett updates Proactive Investors on the company’s Jericho JV (OZ Minerals 80%, Minotaur 20%) copper discovery southeast of Cloncurry, northwest Queensland. Early intercepts show encouraging results, with thick and high...

4 weeks, 1 day ago

2 min read