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Minotaur starts fieldwork at Eloise JV

18th November 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed explorer Minotaur Exploration has moved to capitalise on the takeover of fellow-listed Breakway Resources, starting fieldwork on the Eloise copper/gold joint venture (JV) project, in Queensland.

In July, Minotaur announced that it had entered into a JV deal with an alliance investor over the Eloise regional tenements, which would see the investor earn a 50% interest in the tenure by spending A$6-million over the next four years.

The JV programme would test for copper/gold mineralisation in the immediate vicinity of the Eloise mine, with Minotaur acting as operator and manager of the JV.

Minotaur would assess the Eloise tenement for potential base metal mineralisation, using geophysical methods, before embarking on a specific drill programme.

A helicopter-borne survey was under way to directly detect massive sulphide mineralisation. Some 1 000 km of airborne electromagnetic data will be collected during the survey.

Edited by Creamer Media Reporter

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