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Minotaur Exploration wraps up gold drilling at Leinster, Western Australia

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Minotaur Exploration (ASX:MEP) has completed a major drilling program at Leinster in W.A, with early assays of up to 4 metres at 2.02 grams per tonne gold, and numerous assays pending.

The first pass drilling seven priority gold targets with 141 reverse circulation holes for 8,457 metres.

Assay results for the Pond Well, Aztec, Esperanza, Jungle Well North, and Shane’s prospects are expected in the next few weeks.

The Leinster gold and nickel tenements were acquired by Minotaur through its 2013 takeover of Breakaway Resources, and cover 281 square kilometres in the Archaean Kalgoorlie Terrane.

Minotaur’s assessment of gold anomalous zones reported from the earlier geochemical survey and nickel drill data identified seven high priority prospect areas associated with regional scale shear zones and secondary faults.

A second drilling program is envisaged for mid year to test additional targets and to follow-up encouraging gold intersections from this first pass drilling program.

Separately, Minotaur and joint venture partner Mitsubishi Materials Corporation (TYO:5711) are drilling at the Arthurville copper-gold porphyry prospect in New South Wales.

Mitsubishi is capitalised at $425 billion, and may earn a 49% participating interest in the tenement through expenditure of $970,000.

Minotaur is also involved in a copper-gold joint venture with Japan Oil, Gas and Metals National Corporation (JOGMEC) in the Cloncurry district, Queensland.

 

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.

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