Jericho JV gets resource estimate
PERTH (miningweekly.com) – The Jericho joint venture (JV) partners have announced a maiden 9.1-million-ounce inferred mineral resource for the project in Queensland, grading 1.4% copper and 1.3 g/t gold.
ASX-listed Minotaur Exploration on Thursday said that mining optimisation studies using the Jericho resource to assess the potential for the project to be mined as an underground operation were undertaken by JV partner Oz Minerals.
These studies have indicated that the project represented a significant discovery in the Cloncurry district and could be an important component of a centralised minerals hub in the future, however, Oz Minerals has determined that the project is not viable as a standalone mining operation at present.
The JV would now shift its focus to the adjacent Eloise and Breena Plains JV areas prospective for complementary base metal deposits.
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