here is there announcement

  1. 1,217 Posts.
    MINOTAUR RESOURCES LIMITED 2002-08-05 ASX-SIGNAL-G

    HOMEX - Adelaide

    +++++++++++++++++++++++++
    MOUNT WOODS JOINT VENTURE. Minotaur Resources Ltd (earning 19%), as
    operator, BHP Billiton (earning 51%) and Normandy Exploration Pty Ltd
    (diluting to 23.94%), Sons of Gwalia Ltd (diluting to 3.78%),
    Sabatica Pty Ltd (diluting to 2.28%).

    Further to the announcement regarding DP010 check assays on 1 August
    2002, the Company reports the following information.

    As part of a routine due diligence audit of laboratory assay results
    for the drilling to date from Prominent Hill, using an independent
    laboratory, significant variation in gold assay results were detected
    for some duplicates from drillhole DP010. Accordingly, the Company
    requested re-assays of splits from 1m half core samples of the entire
    drill core, and an independent laboratory has undertaken rigorous
    cross-checks.

    Thevariations relate specifically to six samples, where an original
    nil result (below detection limit) was caused by the inability of the
    analytical equipment used for this particular batch of samples to
    recognise over-range concentrations.

    Those six one-metre samples have now returned assays varying from
    17.0 to 73.4 grams per tonne gold. The six samples occur within the
    previously reported high-grade, sediment-hosted gold zone from 463 to
    520 metres down-hole depth. Assay results from elsewhere in drillhole
    DP010, and from other drilling at Prominent Hill, have passed a
    quality audit utilizing repeat samples, standards, blanks and
    inter-laboratory checks.

    Drillhole DP010 intersected a sequence of argillites showing strong
    haematite crackle veining within which a 57m intersection from 463
    metres carries enhanced gold previously reported as "(uncut average
    3.9 g/t gold) and included 1m samples ranging in value from nil up to
    18 g/t gold".

    With the new assay data, that interval is now upgraded to a 57m
    intersection from 463 metres (uncut average 7.7 g/t Au) with 1m
    samples ranging from 0.1 to 73.4 g/t gold.

    The revised significant intercepts table incorporating the new assay
    data now reads:

    FROM TO INTERVAL CU AU U REE**
    (m) (m) (m) (%) (g/t) (ppm) (%)

    389 420 31 4.31 0.6 173 0.23
    COPPER Including
    389 402 13 7.64 0.83 208 0.33
    463 478 15 -* 3.20 - -
    GOLD 486 502 16 - 6.59 - -
    Including
    (uncut 488 494 6 - 10.59 - -
    57 and 497 500 3 - 11.11 - -
    metres
    @ 7.7 g/t 504 509 5 - 20.15 - -
    gold) Including
    504 506 2 - 40.29 - -
    510 520 10 - 17.95 - -
    Including
    510 512 2 - 48.99 - -
    570 578 8 2.43 0.27 136 0.25
    COPPER 582 587 5 1.32 0.14 182 0.15
    629 641 12 4.06 0.34 146 0.29
    GOLD 657 659 2 - 0.90 - 0.24
    EOH #

    * - not significant
    ** Rare earth elements : cerium plus lanthanum
    # EOH end of hole

    The drill hole results by Minotaur insofar as they relate to ore or
    mineralisation are based on information compiled by D N Carter, who
    is a Fellow of the Australasian Institute of Mining and Metallurgy
    and who has a minimum of five years' experience in the field of
    activity being reported.



 
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