copper-gold exploration in Gawler Craton
West Coast Sentinel
Mining companies busy
Thursday, 13 October 2005
Minotaur Operations, a wholly-owned subsidiary of Minotaur Exploration Limited, has the right to earn a 75% interest in the tenements through the expenditure of $1.5 million in the project.
The two tenements are known as the Streaky Bay Joint Venture and cover 1700 square kilometres. Data has identified potential copper-gold mineralisation.
The Joint Venture also covers an area around Yaninee, which may have potential for hosting uranium mineralisation.
A multi-rig drilling program is underway in the Tarcoola region of the West Gawler Craton. Drill targets include iron-oxide, copper, gold and uranium.
Meanwhile, Southern Gold Limited and Hindmarsh Resources Limited have secured a drill contractor to test their Victory gravity target in the Southern Gawler Arc project near Kimba.
The company says the southern margin of the Gawler Craton is interpreted to have the same geological setting as the Olympic Dam area.
The target area has anomalous copper-gold-uranium anomalism at the surface despite transported cover obscuring the target geology.
The company says Victory provides an excellent opportunity for the discovery of a major copper gold uranium deposit of the "Olympic Dam style".
According to BHP Billiton, Olympic Dam holds 38% of the world's uranium resources and 11 million tonnes of copper ore reserves.
Interesting Nikko, but what about the South Australia Labour Party???
Will this stock be affected as well??
Good point Mac.
I guess the key question is how much of Minotaur's share price reflects its copper/gold prospects as opposed to any Uranium prospects.
Undoubtedly the recent pullback in Minotaur's share price is due largely to SA Labours stance on uranium -which has hit a number of SA miners.
Some detailed research would be in order to determine a reasonable sp pullback to factor out the Uranium issue.
Time to hit the search engine I guess and see what gives.
Mac?Nikko, I think labour is the least of your worries over here. If some of the exploration comes up half as good as WMC/BHP , this mob will hold their hands all the way to the nearest bank.
WA. is the state to worry about not going on.