Minotaur Exploration is the recipient of a grant of A$62,500 under the South Australian Government’s PACE 2020 Initiative to undertake an innovative 3-D magnetotelluric (MT) survey at the Aphrodite iron oxide copper-gold target in South Australia. MT is a passive surface geophysical technique used to determine electrical conductance of the subsurface to great depth. An initial MT survey line across the Aphrodite target indicates good bedrock response and resolution. Minotaur will now undertake a 3D MT survey incorporating an area of 3 x 3 km around the previous drillholes in order to map deep bedrock conductance and test the effectiveness of this methodology for exploration for concealed IOCG-style mineralisation.

The Aphrodite target, on tenement EL 3762, is located 34 km southeast of Olympic Dam. It lies within the eastern Gawler Craton, known for its iron oxide copper-gold (IOCG) style mineralisation with globally-significant mineralising centres at Olympic Dam, Prominent Hill and Carrapateena, and significant prospects nearby at Acropolis, Wirrda Well and Emmie Bluff. Despite its remarkable mineralised endowment, the discovery rate for IOCG-style deposits in the region remains low, largely due to a very thick sedimentary cover sequence. Magnetics and gravity are the dominant geophysical techniques utilised to date, with innovative geophysical methods such as 3D MT not yet routinely applied.

Minotaur identified the Aphrodite IOCG target in 2008. The target is coherent and of significant size (~4 x 2 km) and amplitude (2 mgal). Drilhole AS09D03 intersected hematite-altered basement cut by a number of late stage hematite-chalcopyrite veins and calcite-dolomite-bornite veins, suggestive of an IOCG mineralised system in the vicinity. A second hole in 2010 did not resolve the target, and the nature of source rocks causing the positive gravity anomaly remains enigmatic.

The total budget for the program is A$167,000.