In February 2020 Minotaur arranged a new farm-in joint venture with OZ Minerals (ASX: OZL) to explore Sandfire Resources’ (ASX: SFR) ‘Breena Plains’ tenement group near Cloncurry in north-west Queensland. The JV initialises operations under the Cloncurry Alliance between Minotaur and OZ Minerals and secures prospecting rights across 1226km² of tenure – contiguous with existing acreage held in joint venture between Minotaur and OZ Minerals, as shown on the following map.
The ground is considered prospective for sulphide hosted copper-gold mineralisation, Broken Hill type and Cannington style lead-silver systems. Field activity will commence as the wet season closes, with an extensive ground EM program being prepared (in areas depicted by red polygons in the graphic below) to assess several structural corridors for drill prospects proximal to known targets, mineralisation and deposits. A budget of $1m is allocated for 2020-21.