Prominent Hill JV terminated

MINOTAUR Exploration and OZ Minerals have called off a ground-breaking joint mission to explore for shallow copper mineralisation around of South Australia's Prominent Hill mine.

Prominent Hill JV terminated Prominent Hill JV terminated Prominent Hill JV terminated Prominent Hill JV terminated Prominent Hill JV terminated

The pair re-teamed to prospect the Gawler Craton in late 2015, bringing the Minotaur team back to scour the same ground where it had originally discovered Prominent Hill at Minotaur Resources in 2001, before it was sold for development to Oxiana (now OZ).

The agreement allowed Minotaur to earn 30-80% of specific targets by funding the first A$1.5-2 million of exploration. OZ would also match a similar amount on priority targets.

Minotaur believed there were “cracking” prospects to explore and more discoveries to be made after OZ but abandoned regional exploration around Prominent Hill after having little success.

While a string of targets were defined, and some drilling was undertaken, a review of the trial phase has led to the agreement being mutually terminated th...