EPMs 18571, 18574, 18575, 18576, 18720, 19061, 19066, 25197, 25699, 25856, 25886, 25888, 25960 and 26230; Minotaur 100%, Area 1686km2
Minotaur has fourteen exploration licences clustered around the Osborne copper-gold mine currently operated by Chinova Resources (Figure 1). These tenements are held in joint venture (JV) with Japan Oil, Gas and Metals National Corporation (JOGMEC). Where JOGMEC may earn 51% beneficial interest through expenditure of A$3.5M. Prospect expenditure to end June 2017 is A$2.1M with further A$1M budgeted through to Minotaur 2018.
Exploration objectives are IOCG and ISCG style copper-gold mineralisation and Cannington-style silver-lead-zinc mineralisation in the concealed eastern portion of the Mt Isa Block where basement units are overlain by cover sediments ranging up to more than 100m thick.
Minotaur is managing all exploration activities on behalf of the JV and is utilising our extensive in-house experience of IOCG and ISCG exploration and innovative geophysical techniques. Ongoing target generation is being aided by ground geophysical surveys over parts of the tenement package. The new geophysical data is being used to develop exploration targets for drill testing.
Figure 1: Osborne JV project tenements and main target locations over RTP magnetics image