Minotaur Exploration has defined a geophysical target at the Bullwinkle prospect southeast of Cloncurry through an induced polarization survey which has identified what appears to be an extension of the previously drilled Artemis prospect which yielded thick intersections of massive copper sulphides with gold and silver. A demonstration that the Artemis results are part of this target would signal a significant mineral discovery. Joint venture partner Oz Minerals can fund a $10 million exploration program for a 70% position. Sandfire Resources and Talisman Mining reported 1.05Mt at a grade of 9.4% Cu and 1.6 g/t Au in an indicated and inferred resource across two lenses at the Monty discovery. A high grade domain of 0.763Mt grading 12.1% Cu was defined within the massive sulphide lens. While big enough to act as a satellite feed, the discovery does not solve the short mine life at Degrussa, despite the high grade. Incremental Oil and Gas is testing shallow gas reservoirs with 24 wells with an initial exploration target of 3BCF at its Silvertip gas and oil field in Wyoming for domestic sales.



Comments

Please sign in to comment on this wire.