New Copper-Gold Targets at Osborne Project
Sydney, April 15, 2013 AEST (ABN Newswire) - Minotaur Exploration Limited (
ASX:MEP) declare new Copper-Gold Targets at Osborne Project with geophysical surveys currently underway across a number of targets and tenements at Minotaur's Osborne project, ~150 km south of Cloncurry, are producing positive results.
IP and gravity surveys identified new IOCG style exploration targets within sulfide-rich and/or hematite-rich settings at Osprey, Brolga and Wedgetail. Survey work continues at Bustard, Ibis and Crane.
IP surveying at the Osprey prospect has now tracked two key targets southwards for over 800 m. Four positive chargeable anomalies were recorded, with the strongest being the eastern most anomaly. These anomalies are believed to represent southward extensions of known mineralisation at and around Ivanhoe Australia's (ASX:IVA) Kulthor Mine.
The first IP line at the Brolga prospect has revealed a series of entirely new positive chargeability anomalies and of these the largest and most intense occurs on Line 50000E at a depth of ~100 m. Also present in a favourable structural and stratigraphic position is a smaller discrete anomaly on the eastern end of Line 744100N. These successes in generating new targets confirm the interpreted geological-mineralisation model and a second parallel survey line is currently underway in order to better delineate the conductors and their magnitude.
Two reconnaissance IP survey lines at the Wedgetail prospect have been completed and a positive anomaly recorded on the eastern line. An associated detailed gravity survey has also been completed and assessment and integration are in progress.
A regional gravity survey over the Bustard, Ibis and Crane prospects is in progress and is expected to be completed in approximately one week. Diamond drilling to test the chargeable targets is planned for late in the current quarter.
NOTE: IP chargeability is a geophysical technique for probing the subsurface to detect potential zones of disseminated base metal mineralisation through their electrical response. Gravity surveying is a geophysical technique that maps the subsurface distribution of rock density and is useful for targeting as mineralised bodies are usually denser than the host rocks that contain them.
For diagrams and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MEP-730609.pdf
About Minotaur Exploration Ltd
Minotaur Exploration Ltd (ASX:MEP) is a public company listed on the Australian Securities Exchange (ASX) under the market code MEP. MEP commenced trading on ASX on 25 February 2005. Minotaur has extensive minerals exploration tenements in South Australia, New South Wales, Victoria, Queensland and Western Australia.
The Company is governed by a Board of Directors according to Australian Corporate law and the Listing Rules of the ASX. Minotaur specialises in application of innovative geophysical techniques to locate virgin mineralisation deep below the surface. Often, economic mineral deposits are contained within basement rocks, buried below several hundred metres of transported cover (overburden) and cannot be located through conventional surface exploration methods such as soil sampling, geochemical assays and drilling. Minotaur's remote sensing and interpretative approach has proven very successful, time and time again.
The directors and management of Minotaur each have over 30 years of exploration, mining and mineral resource experience and are eminently qualified in their respective fields of expertise. Under their direction, Minotaur has earned a strong reputation for technical excellence and a high profile within the Australian resources sector. Minotaur's share register comprises 3500 shareholders.
Minotaur is actively exploring IOCG style targets in Australia, where geophysics have identified numerous sub-surface anomalies prospective for copper-gold mineralisation and other targets prospective for base metals such as zinc, lead, copper.
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