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Minotaur Exploration starts copper-gold drilling at Osborne Project in Queensland


Minotaur Exploration (ASX: MEP) has started diamond drill testing for copper-gold mineralisation at its Osborne Project about 160 kilometres south of Cloncurry, Queensland.

The four hole program will test the Osprey East, Osprey West and Brolga East IP targets as well as the Wedgetail combined magnetic/gravity target.

It is the first drilling to be carried out at the project and is expected to take four weeks to complete.

The targets were identified from IP and gravity surveys conducted earlier this year at the Osprey, Brolga, Wedgetail, Bustard, Ibis and Crane prospects that generated a number of positive anomalies worthy of further appraisal and testing.

Targets at Bustard, Ibis and Crane require further geophysical surveying to guide design of a drill program, whilst tenement EPMA19066 containing the Cassowary target is yet to be granted.

IP surveys at the Osprey prospect delineated two sub-parallel chargeable zones trending southwards for over 800 metres.

These anomalies are interpreted to represent southward extensions of known mineralisation at and around Inova Resources Limited’s (ASX: IVA) Kulthor Mine. Two anomalies on IP Line 7552400 have been selected for drill testing with depth to basement interpreted to be less than 50 metres.

IP surveying at the Brolga prospect revealed a number of chargeable anomalies. One of these, Brolga East, in a favoured structural position east of a curvilinear magnetic anomaly, has been selected for drilling.

Interpreted depth to basement is 50 metres to 75 metres, there being no prior drill holes near this geophysical feature.

IP anomalies at each of the Osprey and Brolga targets have no discernible magnetic expression, the target mineralisation style being disseminated to semi-massive sulphides, similar to known mineralisation at Kulthor Mine 4 kilometres to the north. rather than magnetite-hosted iron oxide copper-gold (IOCG) mineralisation and breccia as at Ernest Henry Mine, 35 kilometres northeast of Cloncurry.

Reconnaissance IP survey lines at the Wedgetail prospect revealed a weak positive anomaly on the eastern line.

Of greater attraction are coincident subtle gravity and magnetic anomalies occurring within a northwest-trending fault zone that truncates the southern margin of a granitic intrusion.

A single historic drillhole in this area, by BHP in 1992, intersected brecciated gneiss, psammite and granite with matrix of chlorite and vuggy quartz veins containing minor chalcopyrite, hematite and pyrite.

Depth to basement was 98 metres.

Minotaur’s proposed drill hole WE4 is about 500 metres from the BHP hole and targets possible IOCG style mineralisation.


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