Minotaur Exploration has welcomed promising results from drilling work it has undertaken at its Jericho site in north-west Queensland.
The company reported “significant copper and gold intersections” at Jericho, about 60km south-east of Cloncurry.
“Latest assays from drilling into the J1 structure delineate high-grade copper at shallow depths, demonstrating the persistent nature of mineralisation at Jericho,” the company said in a statement to the ASX.
“Jericho is shaping up as a significant discovery.”
Minotaur managing director Andrew Woskett said since the discovery of copper-gold mineralisation at Jericho in October last year, 28 holes had been completed for 12,840m.
“This largely broad-spaced scout drilling has encountered copper-gold mineralisation in every drill hole along two modelled conductors that extend for 3.3km and 1.2km respectively,” he said.
“All results to date clearly demonstrate Jericho is a very large copper-gold mineral system in bedrock below approximately 30-75m of Mesozoic cover.”
The Jericho site is part of the Eloise joint venture, between Minotaur Exploration and OZ Minerals, which Minotaur manages and operates.