Yorke Peninsula IOCG-REE Project (SA)

The Maitland Joint Venture farm-in agreement with Red Metal Limited permits Minotaur to explore on EL4541 (Anna Villa) and EL4616 (Weetulta).  Together with Minotaur’s EL4435 (Whiting), the Yorke Peninsula Project provides a new opportunity to explore for rare earth element-enriched IOCG style mineralisation of the Moonta-, Poona- and Hillside-styles.  Under the terms of the Joint Venture farm-in agreement with Red Metal, Minotaur can earn up to 70% equity in the Maitland Joint Venture by spending six million dollars on exploration over eight years.

The project area hosts ductile-brittle shear zones that are considered prospective for structurally-controlled sulphide and magnetite-dominant IOCG mineralisation.  Previous work by WMC, BHP, CRA, MIM and Red Metal has consistently encountered anomalous copper, gold, uranium and rare earth elements in soils and deeper drilling, spatially associated with the east to north-east trending shear zones.  Significant intercepts in historic drilling include 12 metres @ 0.15% copper and 122 ppm uranium in DDH2, 10 metres @ 0.4% copper, 0.3% cerium in DD85WE1, and 2.6 metres @ 0.8% copper, 1.2% cerium in DD85WE6.

Minotaur has started its exploration by undertaking an airborne electromagnetic survey, followed by a ground electromagnetic survey over selected anomalies of interest, a geochemical sampling program of eucalypt and casuarinas trees and is now considering a drill program into positive electromagnetic and magnetic anomalies.

Figure: Regional magnetic image for part of the Maitland Joint Venture area showing prominent positive magnetic anomaly (in red) and target for magnetite-rich IOCG mineralization.

Project details last updated January 2012