Mincor's strategy of expanding its interests across the broader minerals industry is exploration-driven and focused on targets likely to produce long-life growth assets. Most of these exploration prospects are owned 100% by Mincor, and all are located in Australia.
Tottenham Copper Project
(Mincor 100%)
The 209km2
Tottenham Copper Project is located in the prolific Lachland Fold Belt of New South Wales. The geological setting is similar to that of the Girilambone group of mines, including the operating Murrawombie (formerly Girilambone) and Tritton copper mines. Tottenham is also located 160km southeast of the CSA copper-silver mine and Peak gold mine near Cobar.
Drilling in the late 1990s by copper producer Straits Resources Limited targeted shallow oxide mineralisation and returned significant results at Tottenham including 20 metres @ 2.1% copper (from 10 metres) at the Caroline Prospect, and 7 metres @ 1.5% copper (from 29 metres) and 10 metres @ 1.4% copper (from 43 metres) at the Orange Plains Prospect.
Mineralisation in the region is associated with shallow-dipping zones of massive sulphides with silica and magnetite altered Girilambone sedimentary and volcanic rocks. The broad structure of the region is antiformal. Potential for both sulphide and oxide mineralisation is present both down-dip and along strike of known occurrences.
Mincor's exploration work to date has identified an initial resource of 3.7 million tonnes at 1.1% copper for 41,850 tonnes. Work continues.
Bohemia Zinc-Lead Prospect
(Mincor 100%)
Mincor's Bohemia tenements lie along the Lennard Shelf, which is the northern edge of the Canning Basin in northern Western Australia. The Lennard Shelf is a well-known zinc-lead mining district, with past production of more than 40 million tonnes of ore at grades of around 11% combined zinc plus lead.
Mincor's tenements straddle the Lennard Shelf at the interpreted position of a series of transfer structures (faults) which elsewhere in the district appear to control the location of the larger ore bodies. As such the area is highly prospective for large, high-grade zinc-lead deposits. Target generation work is underway.
Lake Cowan Gold Project
(Mincor 100%)
Mincor's Lake Cowan Gold Project lies at the heart of one of the most sought-after gold exploration provinces in Australia. The tenement is located between Avoca Resources' Higginsville Gold Project (which includes the recent Trident and Athena discoveries) and the Zuleika South Project. To the north lies the 15 million ounce St Ives Gold Operations and to the south the 5 million ounce Norsemen operations.
The Lake Cowan Gold Project covers part of a large antiform in mafic basalt-gabbro-dolerite rocks adjacent to two of Western Australia's most prolific gold-bearing structures, the Boulder-Lefroy Fault and the Zuleika Shear. The tenement has received little past exploration work due to its location under dry lake sediments. However, with modern technology this is less of a hurdle than it was in the past, and Mincor has considerable experience in exploring beneath lake sediments.
Mincor's work to date has defined a number of gold anomalies associated with a differentiated dolerite host rock and coincident with copper and arsenic anomalies as well as sulphidic quartz vein material. Work continues.
Georgina Zinc Project
(Mincor 100%; JOGMEC earning 40%)
Mincor holds 9,000km2 in the Georgina Basin of the Northern Territory. The project is based on work done by the Northern Territory Geological Survey, highlighting the potential of the area to host zinc-lead mineralisation. The recent work, involving the study of core from deep oil well drilling, has demonstrated that the overall depth of the basin is much shallower than previously thought. Hence the possibility that mineralisation, the potential for which is widely recognised, may occur at depths shallow enough to be economic.
Mincor's Georgina Project is a very large conceptual play designed to test these concepts. If successful, the potential is for the discovery of an entire multi-deposit zinc-lead province, 100% owned by Mincor.
Mincor's exploration work in the area is currently funded by the Japanese Government entity JOGMEC, which is sole funding exploration in order to earn an interest of up to 40%.
Bonaparte Zinc-Lead Project (Mincor 100%; JOGMEC earning 40%)
This area lies in the far north of Western Australia, just north of the town of Kununurra. Work by North Ltd in the early 1990s uncovered a number of soil geochemical and geophysical anomalies in this area, a region of known zinc-lead prospectivity. Mincor's exploration work in the area is currently funded by the Japanese Government entity, JOGMEC, which is sole funding exploration in order to earn an interest of up to 40%.
Gascoyne Tungsten-Uranium Project (Mincor 100%)
The Gascoyne Tungsten-Uranium Project consists of two granted and 100% owned exploration licences and two licence applications covering a total area of 756km2 approximately 350km east of Carnarvon in Western Australia's Gascoyne region. The tenements cover known occurrences of tungsten and uranium as well as copper and gold.
Mincor's current focus is on the uranium potential of the area, and following several ground prospecting programs the Company has carried out costeaning and a program of shallow drilling. This work has confirmed the area as a high-quality uranium prospect.