EPM 17838, 18442, 18624, 19500, 25237, 25238, 25389, 25801, 26223, 26233, 26509, 26521, 26684, 26703 and MDL431; Minotaur 100% (except on those parts of MDL431 and EPM17838 where Sandfire Resources NL can earn 80%), Area 795km2 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 earned 51% interest in the tenements by March 2018. OZ Minerals is continuing to invest in the project and is expected to increase its interest its interest early in 2019 to 70% through total expenditure of $10 million.
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 is continuing through 2018. By closure of the field season, due to the annual monsoon spanning November through to April, a total of 9,000m of diamond core from Jericho will be available for compilation into a robust geological model.
Assay results from 26 holes intersecting Jericho, to end August 2018, 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.