Minotaur Exploration Limited - New Copper-Gold Exploration JV Cloncurry District Queensland

09:39 AEST June 3, 2013 ABN Newswire (C) 2004-2013 Asia Business News PL. All Rights Reserved.

Adelaide, Australia (ABN Newswire) - Minotaur Exploration Limited (ASX:MEP) is pleased to announce it has entered into a joint venture with Falcon Minerals Ltd (ASX:FCN) to explore for copper-gold mineralisation on two Falcon tenements in the Cloncurry district of northwest Queensland. The Joint Venture expands Minotaur's operations within Australia's premier iron oxide copper-gold (IOCG) province.

The Joint Venture into two tenements (EPM 18289 and EPMA18313) held by Falcon allows Minotaur to earn a 51% interest by spending $250,000 over 2 years or a 75% interest by spending a total of $750,000 over a total period of 5 years. The tenements, totaling ~165 km2 in area, are considered prospective for structurally controlled IOCG mineralisation of the Ernest Henry, Eloise and Osborne styles.

Falcon's tenement EPM 18289, is located 20 km southwest of Ernest Henry Mine, and in close proximity to two Minotaur tenements, EPM 19205 and EPMA 19775 (Figure 2 2 in link below). A combined exploration program will now commence on the granted tenements with initial emphasis on gravity, EM and IP surveys over selected, variably magnetite-dominant targets along the margins of, and selected structural conduits to, Williams-Naraku granitic intrusions. Particular attention will focus on the Tino, Neutrino, Taurino, Mindino and Marino gravity +/- magnetic features (Figure 2 in link below).

Falcon's EPMA 18313 is expected to be granted later in the year. This tenement is located west of the Mount Dore, Mount Elliott, Selwyn and Merlin deposits (Figure 1 in link below), along a major N-S trending bounding structure that may have been a conduit for IOCG-style hydrothermal fluids. A similar exploration program is planned after grant.

To view charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MEP-738370.pdf


About Minotaur Exploration Limited:

Minotaur Exploration Limited (ASX:MEP) specialises in application of cutting-edge geophysical techniques to locate virgin mineralisation deep below the surface. Often, economic mineral deposits are contained within basement rocks, buried below several hundred metres of transported cover (overburden) and cannot be located through surface exploration methods such as soil sampling, geochemical assays and drilling. Minotaur’s remote sensing and interpretative approach has proven very successful.

The directors and management of Minotaur each have around 30 years of exploration, mining and mineral resource experience and are eminently qualified in their respective fields of expertise. Under their direction, Minotaur has earned a strong reputation for technical excellence and a high profile within the Australian resources sector.

Minotaur is actively exploring IOCG style targets in Australia, where geophysics have identified numerous sub-surface anomalies prospective for copper-gold mineralisation. Each of these represents a possible Prominent Hill type orebody. Numerous other targets that are ready for drilling are prospective for base metals such as zinc, lead, copper.



Contact:

Minotaur Exploration Limited
T: +61-8-8366-6000
F: +61-8-8366-6001
E: admin@minotaurexploration.com.au
WWW: www.minotaurexploration.com.au