EPM 17838, 18442, 18624, 19500, 25237, 25238, 25389, 25801, 26223, 26521, 26684, 26703 and MDL431; Minotaur 100% (except on those parts of MDL431 and EPM17838 where Sandfire Resources NL hold 60% interest), Area 766km2 OZ Minerals may earn up to 70% interest by expending $10 million over 6 years.
Minotaur’s Eloise tenements are subject to a farm-in joint venture with OZ Minerals Ltd (ASX: OZL). OZ Minerals is sole funding work programs and Minotaur is manager and operator. OZ Minerals achieved its 70% tenement interest early in 2019 through total expenditure of $10 million and will invest further $3 million by July 2021.
Jericho Copper-Gold Discovery
A ground EM survey conducted in 2017 delineated numerous basement EM anomalies, the largest of which – Jericho – measures 4km in strike length. The Jericho EM conductor lies 3-5km southeast of the Eloise copper-gold mine, along the same shear zone, but had never been drill tested previously (it is largely invisible in all other datasets). Eloise mine, currently owned by FMR Investments Pty Ltd, has been in operation for more than 20 years mining high-grade copper-gold lodes from underground and, curiously, Jericho tracks directly beneath the N-S mine access road.
An initial 2-hole drill investigation of the Jericho anomaly, in October 2017, intersected strong sulphide mineralisation at the modelled EM conductor positions.
Follow up drilling defined two main sub-parallel copper-gold lodes, J1 and J2. J1 lode has a known strike length of 3.7km and J2 has around 3km of strike extent. By July 2019 a total of 96 holes for around 29,740m have probed Jericho, to 400-600m depth. J1 and J2 both show remarkable geological continuity, both along strike and down dip, where every hole to date has intersected mineralisation at the predicted down hole position.