Cloncurry IOCG projects (QLD)

Minotaur Exploration has compiled a significant tenement package within the Cloncurry district in northwest Queensland.  Exploration is for predominantly Ernest Henry and Eloise style Cu-Au mineralisation within basement units of the Mount Isa Inlier either exposed or concealed by ~50–175 m of Mesozoic sediments.  Minotaur has 35 tenements (granted and applications).

North of Cloncurry and the Cu-Au-magnetite mine at Ernest Henry, 14 tenements form a joint venture with the Japan Oil, Gas and Metals National Corporation where JOGMEC may earn a 51% interest by spending a total of $4.0 million by 31st March 2013.  Exploration has focused on the Cormorant Prospect (EPM 8068) which is part of a recently discovered, massive pyrrhotite +/- chalcopyrite vein and breccia system which extends for at least 10 km.  Better intercepts include 11 m @ 0.70% Cu and 55 m @ 0.25% Cu with individual 1 metre intercepts of up to 1.9% Cu.  Ground geophysical surveys, including electromagnetic and induced polarization techniques, are being used to define of the distribution of the massive sulphides and to generate drill targets.

Also within the Joint Venture area is a large positive magnetic anomaly similar to that occurring at the Ernest Henry Mine.  Geophysical surveys have been undertaken and a drill program is planned for early to mid 2012.  This is a very exciting target and considerable scope exists for the discovery of significant new IOCG-style deposit.

Minotaur is in the process of acquiring 11 tenements proximal to the Osborne Mine south of Cloncurry.  A majority of these tenements should be granted during 2012 when various geophysical surveys (gravity, magnetic, electromagnetic) will be undertaken to generate new IOCG targets.

Minotaur Exploration’s tenements (granted and applications) in the Cloncurry area

Figure: JOGMEC Cloncurry project area with principal exploration targets at Cormorant, Gypsy Plains and Woolshed Waterhole with respect to regional magnetic image. 

Figure: Massive pyrrhotite and chalcopyrite mineralization at the Cormorant prospect (hole MNDDH014, 303.5 m)

Project details last updated January 2012