Minotaur Exploration (ASX:MEP) has intersected anomalous zinc, copper and gold at the Cloncurry Joint Venture in Queensland with Japan Oil, Gas, and Metals National Corporation (JOGMEC).
Assays were received from three holes drilled to date including 21 metres at 0.56% zinc, 0.28% copper and 0.06 grams per tonne gold from 403 metres.
These results are 2 kilometres along strike from a previous drillhole that contained broad zones of highly anomalous copper and elevated gold and cobalt, indicating a significant linear mineralised system may exist.
JOGMEC is a Japanese government independent administrative institution which among other things seeks to secure stable resource supply for Japan.
Another four holes totalling 1,300 metres are programmed and budgeted. These were not drilled earlier due to the arrival of the wet season and delays in negotiating appropriate land access agreements.
Drill holes are planned for two targets at Gidyea Bore (EM conductor and positive gravity anomaly) and Emu South (EM conductor) where there has been no prior historical drilling at either target.
Consideration is also being given to another drill hole at Cormorant South near MN13D13 as a DHEM survey indicates that a strong off-hole conductor is present.
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.