announcement

Gold assays of up to 56.4g/t Au from surface rock chips
at Mt Tarrengower, Maldon
HIGHLIGHTS:
?X Rock chip samples taken from surface along Lisle??s Reef at the Mt Tarrengower prospect at
Maldon returned significant gold values, up to 56.4g/t Au
?X Assays from 21 out of 22 chip samples from the mineralised outcrop returned anomalous
gold grades
?X Results lend authority to Minotaur??s proposed drill investigation of Lisle??s Reef below old
workings
BACKGROUND:
Minotaur Exploration Limited (??Minotaur??, ASX: MEP) recently entered into an Option Agreement1
with ASX listed Mining Projects Group Ltd (ASX: MPJ) to explore and, at Minotaur??s election,
subsequently acquire Xplor Pty Ltd (??Xplor??), a wholly owned subsidiary of MPJ. Xplor is the
owner of exploration licence EL 4533 at Mt Tarrengower, Maldon, Victoria.
LISLE??S REEF MINERALISED STRUCTURE:
The Mt View/Lisle??s Reef area historically produced about 68,000 ounces of gold to a depth of 60
vertical metres from a number of shafts and workings along a mineralised ridge line extending for
over 1km up to the summit of Mt Tarrengower, to the west of and above the town of Maldon
(Figure 1). At the southern extent of this ridge is the Mt View adit, for which historic records show
mining of both sub-vertical and flat lying mineralised quartz veins.
Minotaur interprets that the adit exposures veins are expressed overhead, at surface, as a line of
shallow workings, where both sub vertical and flat east dipping quartz veins are exposed,
continuing to the north to form the rich Lisle??s Reef mining area. Rock chips taken across these
veins and quartz stockworks recently returned numerous anomalous gold values, with the most
significant values being 56.4 g/t Au and 11.2 g/t Au (Table 1).
The exposed quartz veins are generally narrow, up to 30cm wide, weakly altered, but with
significant shearing and ferruginous, carbonate altered stockwork veining above and below the
main veins (Figure 2). It appears that the main vein carries values of around 0.5 g/t Au whilst the
adjacent sheared and fractured quartz sulphide altered zones contain the higher gold grades. A
summary of the assay values is provided in Table 1.
1 Minotaur gains exposure to historic Victorian goldfields, Minotaur Exploration Limited ASX Announcement, 17
September