OZ, Minotaur extend drilling campaign at Eloise copper JV for second time

Minotaur Exploration has extended its drilling program by 800m to 2500m at the Jericho copper system, part of the Eloise joint venture (JV) with OZ Minerals near Cloncurry, Queensland.

OZ and Minotaur commenced drilling in April for the identification of copper-gold and silver-lead-zinc mineralisation across a 10km strike length.

This isn’t the first time the campaign has been expanded; the two companies made initial plans for expansion from 5000m to 6700m in June following positive results from the J1 and J2 North holes. Drill testing at J2 South (a new anomaly) and J3 is currently underway.

The expansion will incorporate extensions at these holes as well as seven additional holes. The new holes are planned to intersect copper sulphide mineralisation along a 3.3km strike length. The new holes will reduce gaps in the drilling along the J1 and J2 North systems.

OZ Minerals currently has a 51 per cent beneficial interest in the Eloise project due to a $5 million Stage 1 earn-in spend, as part of an arrangement that entitles the company to up to 70 per cent of the project in exchange for $10 million of project spending over six years.

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