Wednesday, 25th October 2006 (2412 views)

Minotaur Exploration has announced that it has received "positive" results from a shallow drilling exercise at northern and central sites of its Area 223 gold deposit in Tunkillia, South Australia.

It has been discovered that the site may contain a greater oxide resource than was previously believed and the company has said that a majority of the oxide zone mineralization is open at the strike length.

Shallow drilling at Tunkillia involved 47 shallow reverse circulation holes and of these a total of 36 discovered significant gold mineralization, which is judged to be anything greater than one gram per tonne of gold.

According to Minotaur Exploration, the drilling that took place in the central area of the mineralized zone "encountered results consistent with expectations".

Oxide gold mineralization occurred at depths shallower to the company's expectations with a depth of 12 metres recorded for a broad area of low grade mineralization, Minotaur stated.

Minotaur Exploration is an off-shoot of Minotaur Resources and has mining positions at Gawlor Craton, the Broken Hill Block and Mount Isa Block, all in Australia.

 

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