https://www.miningweekly.com

Minotaur inks new exploration deal in Qld

25th August 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Minotaur Exploration has signed a A$3.5-million exploration deal with Japan Oil, Gas and Metals National Corporation (Jogmec) over Minotaur's tenements south of Cloncurry.

Under the terms of the agreement, Jogmec would spend a minimum of A$500 000 in the first year of the joint venture (JV) and then a further A$1-million a year over the subsequent three years, to earn a 51% interest in the tenements.

The two companies would explore for iron-ore and copper-gold mineralisation in the region, as well as silver-lead-zinc mineralisation in the concealed eastern portion of the Mt Isa block, where basement units were overlain by cover sediments ranging up to more than 100 m thick.

Minotaur MD Andrew Woskett on Tuesday said Minotaur was delighted with Jogmec’s decision to embark on the JV.

“Both parties perceive the Osborne area to have high potential for discovery of base metal deposits and look forward to demonstrating the value of this new relationship,” Woskett added.

The JV project area, known as the Osborne project, covers nearly 1 800 km2 and a number of targets have already been identified from evaluation work. The JV partners were confident that additional targets would be delineated from new geophysical surveys across the project area.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.056 0.088s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: