Proactive Investors - Run By Investors For Investors

Minotaur Exploration hits more high grade zinc at Artemis

Minotaur Exploration hits more high grade zinc at Artemis

Minotaur Exploration's (ASX:MEP) second, shallower drill hole at its Artemis polymetallic prospect in Queensland has intersected massive and veined sulphides over 40 metres from 95 metres.

Assays returned 21 metres at 5.06% zinc, 1.85% lead, 69 g/t silver, 0.84% copper and 0.73g/t gold from 114 metres.

This included a higher grade interval of 7 metres at 8.3% zinc, 4% lead, 154 g/t silver, 1.1% copper and 0.82g/t gold from 125 metres.

Notably, down-hole electromagnetic surveys indicate that the upper zone of zinc-lead-silver enriched mineralisation has a different geophysical signature to the copper-gold-zinc polymetallic mineralisation encountered in the first hole.

A third, deeper drillhole is now underway to test down-dip extension of mineralisation reported from the discovery hole, with results expected in about 3 weeks.

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.

The zinc price is hovering around US$1.05 per pound, up from US$0.90 in April, and has been as high as US$1.10 in recent weeks.

Minotaur is capitalised at around $36 million, and also controls copper-gold projects in Western Australia, New South Wales and South Australia.

 

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.

View full MEP profile View Profile

Minotaur Exploration Ltd Timeline

Related Articles

Eritrean flag
September 20 2018
The company has already signed a binding offtake agreement with EuroChem for up to 100% (minimum 87%) of module I sulphate of potash (SOP) production.
A map of Argonaut and Aeris' Torres project and its vicinity to BHP and OZ Minerals
Mon
The Torrens JV is keen to get cracking after resolving legislative issues.
graphite
January 18 2018
NextSource Materials Inc (TSE:NEXT) (OTCQB:NSRCF) may just be the best graphite company few investors know of.

© Proactive Investors 2018

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