Copper Heaven

Article in NWS

COPPER HEAVEN

By BRAD THOMPSON

Aug. 5, 2014, 8:30 p.m.
CONFIDENCE in the North West’s mineral deposits has been validated with a new discovery compared to the size of one of the most significant mines in the region.
Minotaur Exploration has reported high grade copper results from its Artemis project, about 20 kilometres west of Eloise Mine near Cloncurry.
Minotaur business development manager Tony Belperio said results suggested the discovery to be double the grade of Eloise and he hopes it will be of similar size.
The Adelaide-based explorer said it had intersected an interval of nine metres at 5.2per cent copper, 10.2 per cent zinc, 7.9grams per tonne gold and 181 grams per tonne silver.
This was part of a much larger 22-metre interval about 150 metres below ground level.
Mr Belperio described it as an “outstanding” finding.
“It’s quite an exciting new discovery,” he said.
“The intercept and grade is outstanding.”
Eloise Mine is operated by privately owned FRM Investments, a shareholder in Minotaur.
Eloise was discovered in 1987 and has a small, deep ore body and produces about 60,000 tonnes of copper a year.
It has produced about seven  million tonnes in the past 15 years, employs about 100 people and has an estimated mine life  until about 2017.
Infrastructure at Eloise Mine could be used to support a greenfield mine development.
Mr Belperio said there were strong results of other credits such as silver and zinc in the results.
The find is reward for Minotaur’s perseverance in the Cloncurry region.
Mr Belperio said the company invested up to $2 million a year in exploring for new deposits and has been scouring the region for the past six years.
“It has taken a lot of scientific detective work to get to this final payout,” he said.
The company is also exploring other areas around Cloncurry and Osborne and is confident of more discoveries.
“Once we’ve found one it usually means there’s more around,” he said.
A second hole is being drilled at Artemis by Cloncurry-based Kelly Drilling with a third drill hole planned.

http://www.northweststar.com.au/story/2466814/copper-heaven/?cs=191