MINOTAUR 
By MINOTAUR EXPLORATION LIMITED ACN 108 483 601 ASX: MEP
ASX Release
14 FEBRUARY 2014
DRILLING STARTS AT NSW BASE METALS JV PROJECT
HIGHLIGHTS
• First drilling by the Minotaur-Mitsubishi joint venture at Arthurville, NSW
• 5 initial drillholes designed to test 3 geophysical targets
• 1,200m RC drill campaign underway.
Arthurville Joint Venture
Exploration on the Arthurville project, 30km south-east of Dubbo NSW, is underway (Figure 1). Minotaur
is exploring EL 7588 in joint venture with Mitsubishi Materials Corporation and Mitsubishi Corporation (together 'Mitsubishi') where Mitsubishi may earn 49% participating interest in the tenement through expenditure of $970,000.
The Arthurville tenement is prospective for porphyry- style copper and gold within the Molong Volcanic belt of the Lachlan Orogen, host to several significant porphyry Cu-Au deposits in eastern Australia, such as Cadia-Ridgeway and Copper Hill.
This drilling program follows IP surveys carried out in March and October 2013, resulting in selection of three geophysical targets for drill investigation at two locations (Figure 2).
Note: a report derived from the geophysical surveys was issued under the JORC Code 2004 edition (refer ASX release dated 1 May 2013). Republishing those results in conformance with the JORC Code 2012 edition is not presently warranted as the information on which the report was based has not changed in material aspects.
Figure 1: Location of Arthurville JV (EL7588), near Dubbo, NSW.
Figure 2: Arthurville tenement (EL7588) over TMI image, showing location of drill targets A118 and IP1.
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LEVEL 1, 8 BEULAH ROAD, NORWOOD, SOUTH AUSTRALIA 5067 T +61 8 8132 3400 F +61 8 8132 3499 E admin@minotaurexploration.com.au
Target A118
Location A118, a moderate intensity IP chargeability anomaly, occurs within interpreted (obscured)
Molong Volcanics at magnetic basement depth of 80m (Figure 3). Outcropping exposures of Molong Volcanics around 2km to the east exhibit copper mineralisation within porphrytic basalt and host numerous small, historic copper workings.
Figure 3: IP inversion model for target A118. The target anomaly is at centre of the section.
Minotaur's recent 2D and 3D modelling shows that the IP anomaly lies in a non-magnetic zone between two low-order linear magnetic features (Figure 4), representing a compelling exploration target.
Figure 4: Target A118 - IP inversion model with the 3D magnetic model.
Target IP1
Target IP1 was generated from broad scale geophysical interpretations as a strongly demagnetised circular zone within an intense magnetic high. Demagnetised signatures like this are associated
with some porphyry deposits in the Lachlan Fold Belt, examples being Northparkes and Copper Hill.
A strong chargeability anomaly at depth of 100-125m
(Figure 5) sits precisely within the demagnetised
zone and will be tested by 2 RC holes to 300m depth. An adjacent, shallow chargeability anomaly 350m to the west will be tested by a single 200m deep RC hole.
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Figure 5: IP Inversion model for target IP1. Anomaly at centre is within the demagnetised zone.
Drilling Program
With access approvals received, drilling commences at target IP1 today. The drill program is expected to take three weeks to complete, the primary objective of which is to identify alteration styles typically associated with porphyry mineralisation (eg: potassic alteration
at Northparkes).
Information in this report that relates to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled by
Mr Ian Garsed, who is full-time employee of the Company and its
General Manager, Exploration. He is a Member of the Australian Institute of Geoscientists. Mr Garsed has experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in
the 2004 Edition of the "Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves" (JORC Code).
Mr Garsed consents to inclusion in this report of the information in the form and context in which it appears.
For further information contact: Andrew Woskett (Managing Director) or
Tony Belperio (Director, Business Development) Minotaur Exploration LtdT +61 8 8132 3400
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