Eloise JV

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. 

The 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 is expected to increase its interest early in 2019 to 70% through total expenditure of $10 million.

Jericho Prospect
A significant EM anomaly was identified late in 2017. ‘Jericho’ comprises two sub-parallel and copper mineralised conductors, J1 and J2, within 3-5km south of the Eloise copper-gold mine. Combined strike length of the mineralised plates is ~4.5km. Scout drilling of the plates started late in 2017 and continued until end September 2018 by when a total of 12,840m of diamond core is available for compilation into a robust geological model.  

Assay results from 28 holes intersecting Jericho prove the system is pervasively copper-gold mineralised along both conductors. Inspection of the core shows clear similarity to that observed from the nearby Eloise copper mine, owned and operated by FMR Investments Pty Ltd.

The N-S expanse of the Jericho trend is best illustrated by reference to an image of the Sydney Harbour Bridge, at the same scale, where the structure is 1049m in length.

 

Figure 1: EM drill targets south of Eloise mine; EM image is Z component, channel 30 over magnetics with completed drill collars

Figure 2: Jericho long section showing drill hole traces and assays

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