EPM 17838, 18442, 18624, 19500, 25237, 25238, 25239, 25801 and MDL431; Minotaur 100% (except on those parts of MDL431 and EPM17838 where Sandfire Resources NL can earn 80%), Area 728km2 OZ Minerals may earn up to 70% interest by expending $10 million over 6 years.
The Eloise tenements are subject to a farm-in joint venture with OZ Minerals Ltd (ASX : OZL), operating from April 2016. OZ Minerals is funding work programs and Minotaur is manager and operator. OZ Minerals invested $3.2 m on the tenements up to end June 2017.
Iris-Electra ISCG prospects
The persistent nature of mineralisation exhibited in the 2016 - 2017 drilling at Iris indicates a large mineral system with potential for higher grades in the vicinity of EM conductors. A major $250,000 ground EM survey along the flanks of the Eloise mine is underway and due to complete in August 2017.
Figure 1: highlights the eastern portion of Minotaur's Eloise JV tenements referenced to the Eloise copper-gold mine (owned and operated by FMR Investments Pty Ltd) and the Cannington-style Altia (owned by the Minotaur-Sandfire JV) and Maronan (owned by Red Metal Ltd) base metals deposits. The area shaded encompasses the new ground EM survey.