EPM 17838, 18442, 18624, 19500, 25237, 25238, 25239, 25801, 26223 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). OZ Minerals is funding work programs and Minotaur is manager and operator. OZ Minerals invested $5M in the tenements up to end December 2017.
A significant EM anomaly was identified late in 2017. Jericho comprises a series of sub-parallel conductors, 5km south of the Eloise copper-gold mine. Combined strike length of the conductor plates is 8km. By end 2017 Minotaur completed 8 scout holes testing each of the J1, J2 and J3 plates. Assays from the initial 8 holes show strong continuity of copper mineralisation along each of the J1 and J2 conductors. About 7km of the sequence of conductors remains untested and will be the focus through 2018.
Figure 1: EM drill targets south of Eloise mine; EM image is Z component, channel 30 over magnetics with completed drill collars