Second annual and final technical report EL 27733 Coolibah for period 9 July 2010 to 8 July 2012

Abstract

During the past 12 months, exploration activities undertaken by Minotaur Exploration have included detailed modeling of the Coolibah ground magnetic data collected in 2011 and ground EM surveying over targets selected from the Normandy airborne EM survey. The magnetic modeling showed a series of tabular bodies at Coolibah Bore with high susceptibility, dipping sub-vertically and with depths to their tops of around 120 to 130m A ground EM survey incorporating 13 lines for a total of 25.7 line kilometres was undertaken on 9 targets identified from a review of the historical airborne EM data, and over the Coolibah Bore magnetic / gravity anomaly. No significant positive basement conductors were delineated indicating an absence of massive sulphide mineralization in these targeted areas. Due to the lack of encouragement from the geophysical surveys, the perceived potential for the tenement area to host significant massive sulphide mineralization has decreased.