Minotaur Exploration Ltd. said Oct. 15 that it signed a joint venture agreement with a private entity to develop the Windsor project in Queensland, Australia.
Windsor comprises seven tenements across 629 square kilometers and is prospective for volcanogenic massive sulfide-style zinc-lead-silver-copper-gold mineralization.
Minotaur stands to earn up to an 80% interest in the property by spending A$4 million on exploration in stages within five years of signing. It also has the option to bring in a funding backstop partner.
The company will serve as manager and operator of the joint venture. Initial exploration activities will include ground geophysical surveys, followed by drill testing. A first-round drill program should be complete by June 2019.
Once the earn-in period concludes, the joint venture partners must contribute in proportion to their respective interests, or dilute.
ASX-listed Minotaur has exploration tenements in South Australia, New South Wales, Victoria, Queensland and Western Australia.