Minotaur Exploration and Oz Minerals have launched a 5000m drilling program at its Eloise joint venture south-east of Cloncurry.
The work is testing conductive anomalies at ‘Jericho’, ‘Arlington’, ‘St Louis’, ‘Defiance’ and ‘Yukon’, all
identified in 2017 along 10km of the Levuka Shear zone.
These are close to the Eloise copper-gold mine.
The Eloise JV is seeking Eloise-style copper-gold and Cannington-style silver-lead-zinc mineralisation.
Minotaur Exploration managing director Andrew Woskett told iQ recently that the company had spent the last five years looking for deposits similar to Eloise and was driven by the knowledge that the area is well established with copper and base metals.
“We’re using new electrical geophysics techniques to discover new deposits, in basement rocks that typically underlie between 80 and 150m of cover,” he said.
“We’ve definitely got the option of approaching the owners to treat ore at the Eloise mine site should we locate a viable orebody. The Eloise plant has throughput capacity of 700,000 tonnes/year.
“Existing Reserves at the Eloise mine might be depleted in two to three years but the operators (FMR) have been very successful in finding new underground ore bodies, prolonging mine life.”