JOGMEC in base metals ground survey near Cloncurry

In Exploration, Infrastructure & Operations, Latest News

Minotaur Exploration Ltd (ASX: MEP) announces the launch of a new ground EM1 geophysical survey at
the Osborne JV in northwest Queensland. The survey will assess 3 areas ranging 10–25km from the Cannington
silver-lead-zinc mine and the Osborne copper-gold mine.

The survey is targeting conductive sulphide zones that may be associated with Cannington-style silver-lead-zinc
mineralisation or Iron Sulphide Copper Gold (ISCG) style mineralisation similar to that developed at the Eloise
copper-gold deposit further north.

This work builds on the regional ground surveys and prospect drilling completed in mid-2017 and demonstrates
continuing support by JOGMEC for Minotaur’s target generation approach.

The new EM survey is directed to three prospects:

Kite: a series of low-amplitude but very discrete magnetic anomalies that lie adjacent an interpreted
northwest-trending fault along 5km of strike. Up to 8 of the anomalies will be surveyed by single lines as a
first pass test; additional lines will be conducted over those returning a conductive response. The Kite area
appears to have potential for both Cannington and ISCG styles of mineralisation. The targets are under cover
with basement interpreted to be 80-100m below surface.

Curlew: lies 10km northeast of the Osborne mine and adjacent an interpreted regional-scale fault. Anomalous
geochemistry and untested airborne EM conductors, along with a favourable geological and structural setting,
renders the Curlew Prospect attractive for further exploration. Recent field reconnaissance in the area identified
gossanous ironstone and quartz veins. The ground EM program, comprising up to 5 lines, seeks to improve upon
the existing airborne EM data and define conductive basement targets for drill assessment.

Cockatoo: the area around Cockatoo was the subject of previous work by BHP Billiton Ltd (ASX: BHP)
targeting Cannington style mineralisation. Minotaur will survey up to 4 lines of EM over discrete low-amplitude
magnetic anomalies that may be associated with hydrothermal magnetite or banded iron formation; both are
attributes of the host assemblage at Cannington. None of the selected magnetic anomalies at Cockatoo have
been drill tested previously.

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