Minotaur Exploration (ASX:MEP) is likely to trade substantially higher today after reporting a significant copper-zinc-gold-silver discovery at its Artemis prospect in the Cloncurry region of Queensland.
The first drill hole at the Artemis Prospect, 20 kilometres west of the Eloise Copper mine, intersected a broad zone of polymetallic mineralisation.
Assays received to date have included 22 metres at 3% copper, 3.8 g/t gold, 112 g/t silver and 6.6% zinc from 157 metres.
This interval incorporated a higher grade section of 9 metres at 5.2% copper, 7.9 g/t gold, 181 g/t silver and 10.2%
zinc from 167 metres.
A zone of massive sulphides, flanked by peripheral zones of veining, was also encountered over a 34 metre intercept
from 148 to 182 metres.
The 10-hole drill program at 9 greenfield target sites commenced in June, with 8 holes now completed and assays awaited.
This exploration work is covered by the Eloise Copper Joint Venture with Golden Fields Resources.
Upon expenditure of $6 million over 4 years, Golden Fields may earn a 50% interest in the tenements.
Minotaur is capitalised at around $21 million, and also controls copper-gold projects in Western Australia, New South Wales and South Australia.
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