The company is focusing its efforts on a number of projects in proven territory in northwest Queensland while retaining interests in South Australia.
Current work is centred on the Eloise and Osborne joint ventures near Cloncurry as well as on the 100%-owned Highlands project in the same region.
Woskett will explain this work and Minotaur’s future plans at the Sydney CEO Session on Monday, October 22.
Strong Eloise results
At the Eloise JV with OZ Minerals Limited (ASX:OZL), drilling of Jericho prospect, which is only 2-5 kilometres from the Eloise mine, is returning strong copper-gold results.
The JV this week received assays for six holes, all with significant copper-gold values, and assays for the remaining five holes in the 28-hole, 12,840-metre program are pending.
The drill rig has moved to test other regional ground EM targets until the ‘wet season’ imposes feld activity shutdown in November.
OZ Minerals JV
OZ Minerals may sole fund up to $10 million over six years for which it will earn 70% benefcial interest in Minotaur’s ‘Eloise’ tenements.
This 70% interest is forecast to be achieved by early 2019, three years earlier than originally contemplated.
Minotaur is manager and operator of the joint venture.
Drilling at Osborne
At the Osborne JV with Japan Oil, Gas and Metals National Corporation (JOGMEC), diamond drilling is underway targeting zinc-lead-silver and copper-gold mineralisation.
At the Highlands project, a 5-hole drilling program of scout RC holes is planned, starting at Gospel prospect.
Register for the CEO Session today to find out more.