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MEP ASX Release 23 November 2011 1
247 Greenhill Road, Dulwich 5065, South Australia A.C.N. 108 483 601 Tel: +61 8 8366 6000 Fax: +61 8 8366 6001 Website: www.minotaurexploration.com.au Email: [email protected] ASX Code: MEP 23 November 2011 The Company Announcements Office Australian Securities Exchange Limited
Presentation on Cloncurry IOCG Exploration
Minotaur Exploration Limited is close to completing its 2011 joint venture field work on its iron
oxide copper-gold (IOCG) prospects in the Cloncurry district of North Queensland. Diamond
drilling is testing several geophysical anomalies in Proterozoic rocks generally beneath 150m
of Mesozoic cover on the black soil plains north of the Ernest Henry mine. The following
graphic shows the distribution of Minotaur’s 3,500km2 tenement position around Cloncurry.
Figure: MEP tenure (yellow blocks) in the Cloncurry district, Queensland
MEP ASX Release 23 November 2011 2
Today the Company’s Chief Geologist, Mr Richard Flint, will deliver a paper to the Mining the
Isa 2011 Conference at Mt Isa. His presentation, titled Exploration Update for the
Cloncurry area (attached), provides comprehensive technical information concerning the
suite of IOCG targets, the focus of the current field programme in joint venture with the Japan
Oil, Gas and Metals National Corporation (JOGMEC), where the 2011 exploration budget
was recently expanded to $2.37 million.
Andrew Woskett Managing Director Information in the attached presentation that relates to Exploration Results and Mineral Resources is based on
information compiled by Dr A.P. Belperio who is a Fellow of the Australasian Institute of Mining and Metallurgy. Dr
Belperio is a full-time employee of Minotaur Exploration Ltd and has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and to the activity which he (or she) is undertaking to
qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves’. Dr Belperio consents to inclusion in the report of the matters based
on their information in the form and context in which it appears”.
Exploration Update for the Cloncurry area
R. B. Flint Chief Geologist
Mining the Isa 2011 Conference
23 November 2011
Minotaur: the company
Minotaur is an Active Explorer
In South Australia
In Queensland
In New South Wales In Northern Territory
In Victoria
Where the focus is on:
IOCG Cu-Au
Base Metals Cu, Pb, Zn
VMS-style Cu, Pb, Zn
Magnetite
Kaolin
Gold
Minotaur: the company
Leverage exploration through Joint Venture funding:
JOGMEC, Mitsubishi Corporation, Mitsubishi Materials Corporation, Sumitomo Metal Mining Oceania
Leverage Exploration via equity in associates or partners:
Cloncurry: Cu-Au
Significant tenement holding (~3,000 km2) within proven mineralised province JV with JOGMEC for 14 tenements north of Cloncurry Minotaur 100% for 20 other tenements, especially near Osborne and Eloise
Red areas = Minotaur tenements
(granted & applications)
Cloncurry JOGMEC JV
Regional gravity and magnetic surveys, localised ground EM surveys 4 diamond holes (late 2010 to mid 2011) and another 7 holes in current program (late 2011)
Gypsy Plains
Cormorant
Cotswold
2011 drillhole
2011 target
Magnetic image
Gypsy Plains Prospect
Multiple zones of massive sulphides, predominantly pyrrhotite, lesser pyrite & chalcopyrite Copper: 12m @ 0.33% Cu (346 358m)
Zinc: 4m @ 2.15% Zn (200 204m)
Cormorant
Gypsy Plains MNDDH16
Gypsy Plains MNDDH16
239.55m
201.0m
Magnetic image
Cormorant Prospect
Multiple zones of massive sulphides (pyrrhotite +/- chalcopyrite vein/breccia) Copper: 11m @ 0.7% Cu (298 309m)
Includes 1m @ 1.08% Cu (298 299m) and 1m @ 1.72% Cu (304 305m)
Cormorant MNDDH14
Gypsy Plains
Cormorant MNDDH14
303.5m
306.8m
Magnetic image
Cormorant Prospect
Multiple zones of massive sulphides (pyrrhotite +/- chalcopyrite vein/breccia) Copper: 2m @ 1% Cu (322 324m)
Cormorant MNDDH18
Gypsy Plains
Cormorant MNDDH18
301.7m
325.2m
Magnetic image
Cormorant Prospect
3 out of 4 holes intersected massive sulphides To be re-drill tested early next year
Cormorant MNDDH15
Gypsy Plains
Cormorant MNDDH15
MN11 MN10 MNDDH15
Magnetic image
Cover sediments
West East
296.08m
Chalcopyrite
Cormorant mineralised trend
Multiple massive sulphide bodies (in purple) defined by drilling and geophysical surveys
MNDDH018
MNDDH014
MN011
MNDDH016
Magnetic image
Cormorant mineralised trend
Interpreted distribution of massive sulphide bodies (in black) , mineralised zone 10km long Challenge now is to find portion that is enriched in copper!
MNDDH018
MNDDH014
MN011
MNDDH016
Magnetic image
Cormorant
Gypsy Plains
Cloncurry JOGMEC JV
Cotswold: old mining lease (held for 30 years), acquired by Minotaur in 2010, scope to apply modern geophysics Cotswold has similar amplitude magnetic anomaly to that at Ernest Henry (20km to the southeast)!
Gypsy Plains
Cormorant
Cotswold
2011 drillhole
2011 target
Magnetic image
Cloncurry: Camel Well tenement
Tenement 100km north of Cloncurry, EPM granted February 2011 Includes historical drillholes 60m @ 0.3% Cu (HS001) and 11m @ 1% Cu (DD95PH01) (both from surface)
Magnetic image
11m @ 1% Cu (from surface)
60m @ 0.3% Cu (from surface)
Cloncurry: Regional Cu-Au exploration
Awaiting grant of ~20 tenements in the Osborne and Eloise areas 2012 shaping up to be a very busy year exploring for that next big IOCG discovery!
Red areas = Minotaur tenements
(granted & applications)
