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Minotaur Exploration to increase cash position

Minotaur Exploration to increase cash position

Minotaur Exploration (ASX:MEP) is heading to market with a capital raising. The ASX has granted the company a trading halt to prepare.

The company's shares have surged recently after intersecting a broad zone of polymetallic Eloise-style copper-gold mineralisation at the Artemis polymetallic prospect in Queensland.

Drilling highlights included:

- 24 metres at 2.12 grams per tonne gold, 1.58% copper and 4.74% zinc; 21 metres at 5.06% zinc, 1.85% lead, 69 g/t silver, 0.84% copper and 0.73g/t gold; and

- 22 metres at 3% copper, 3.8g/t copper, 112g/t silver and6.6% zinc.

The drilling at Artemis has confirmed polymetallic mineralisation downdip for at least 110 metres and with three holes intersecting high grade mineralisation indicating the project is a significant new discovery.

The halt will remain in place until the opening of trade on Wednesday 10th September 2014, or earlier if an announcement is made to the market.

 

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