mep portfolio review 1 sept 2010

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PORTFOLIO REVIEW 1 September 2010 Minotaur Exploration Limited ACN: 108 483 601 ASX: MEP

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Page 1: Mep portfolio Review 1 Sept 2010

PORTFOLIO REVIEW1 September 2010

Minotaur Exploration LimitedACN: 108 483 601

ASX: MEP

Page 2: Mep portfolio Review 1 Sept 2010

Business Model

A multi-optioned approach to building value :

Active and Diverse exploration effort in iron-oxide-copper-gold (IOCG, or Prominent Hill style), gold, base metals, & iron mineralised systems Strategic ASX Investments broaden exposure to exploration success steadily moving advanced Kaolin project towards commercialisation actively seeking new brownfields acquisition opportunities in metals

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 3: Mep portfolio Review 1 Sept 2010

About Minotaur

ASX: MEP Equity: 80.5M shares on issue Top 5 hold 27.4%: Oz Minerals (9.98%); Newmont (6.61%) 52 week range: 16.5c - 33c Last Price (31 Aug): $0.31 Market Capitalisation: $25M

Cash (30 July): $4.0M Listed Investments: $ 6.9M Enterprise Value: $14.1M Exploration Assets/share: $0.175 (as @ 31 August 2010)

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 4: Mep portfolio Review 1 Sept 2010

Strategic Investments

Leveraging ground exposure and technical skil ls via equity in:

Mithril Resources (MTH) nickel and copper explorer (16.6%)

Petratherm (PTR) geothermal energy developer (18.35%)

PlatSearch NL (PTS) base metals explorer (4.5%)

Thomson Resources (TMO) applying frontier geology to Thomson Fold Belt (NSW), expect ASX listing in October (Minotaur equity 13%)

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 5: Mep portfolio Review 1 Sept 2010

Minotaur is active in:

Nova Scotia, Canada Queensland New South Wales South Australia

Exploration

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 6: Mep portfolio Review 1 Sept 2010

Project Pipeline

www.minotaurexploration.com.au

MINOTAUREXPLORATION

PROJECT Location Type Sept Oct Nov Dec

Cobequid Nova Scotia IOCG Geophysics Geophysics Drilling Lab Assays

Bass River Nova Scotia Magnetite Geophysics Target generation

Drilling Lab Assays

Cloncurry Qld IOCG Geophysics Drilling Drilling Lab Assays

Aphrodite SA IOCG Drilling Lab Assays Lab Assays Report

Border SA Base metals Geophysics Geophysics Drilling Drilling

Mutooroo SA Magnetite Geophysics Drilling Drilling Lab Assays

Poochera SA Kaolin Product Specifications

Marketing Marketing Off Take discussions

Tunkillia SA Gold Start CSIRO ISL Study

Regional Biogeochem

Regional Biogeochem

CSIRO ISL Study ends

Louth NSW Base Metals Drilling Lab Assays Interpretation Report

Page 7: Mep portfolio Review 1 Sept 2010

Significant ground position in Nova Scotia, offering multi-metal opportunities: Cobequid: IOCG; geophysics underway on multiple IOCG anomalies, drill in November Bass River: Magnetite; proven iron ore province, geophysics underway

along 20km magnetic horizon, drill in November

Exploration focus - Canada

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 8: Mep portfolio Review 1 Sept 2010

Exploration - Nova ScotiaSignificant Regional IOCG and iron play

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Tenure along 200km of the fault zone

Page 9: Mep portfolio Review 1 Sept 2010

Exploration - Nova ScotiaMineralisation types

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 10: Mep portfolio Review 1 Sept 2010

Exploration - Nova ScotiaIOCG anomalies, examples

www.minotaurexploration.com.au

MINOTAUREXPLORATION

NS13West is a gravity only anomaly

(Haematite target)

NS13East shows coincident gravity and magnetic anomalies (Magnetite target)

1VD  Magne*cs1VD  Gravity

NS13West (Haematite) NS13East (Magnetite)

Page 11: Mep portfolio Review 1 Sept 2010

Exploration - Nova ScotiaBass River Magnetite

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Magnetite deposit is: 15km from trans

Canada railway & highway 50km from Port of

Parrsboro 150km from major

Port of Halifax in a recognised iron

ore province

Page 12: Mep portfolio Review 1 Sept 2010

Exploration - Nova ScotiaBass River Magnetite

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Magnetite breccia mineralisation shows

magnetic high intensity sporadically along

20km of strike.High resolution ground magnetic survey now

underway to guide drill investigation

Lodestone (1988) produced 1,000t of

magnetite Con at grade of 83% Fe3O4 from

2,000t of ore

Page 13: Mep portfolio Review 1 Sept 2010

Exploration - Nova ScotiaBass River Magnetite, Geology

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Geology of the Bass River area showing the location of magnetite breccia outcrops between Bass River and Economy River relative to the Cobequid-Chedabucto Fault Zone (CCFZ) and the alkaline Pleasant Hills Pluton of Carboniferous age.

Page 14: Mep portfolio Review 1 Sept 2010

Exploration - Nova ScotiaMagnetite sampling

www.minotaurexploration.com.au

MINOTAUREXPLORATION

The Bass River Magnetite deposit was bulk sampled as a source of high quality magnetite in 1988. The presence of Co-rich pyrite was recognised. The deposit averages a few hundred ppm Co while the pyrite concentrate averages 0.9% Cobalt.

The magnetite mineralisation has an obvious structural control and is localised essentially along the trace of the Cobequid Fault, a major suture of the Cobequid-Chedabucto Fault Zone.

Fragments of Carboniferous age Pleasant Hills Pluton are present in the brecciated magnetite mineralisation. In addition, veinlets of pinkish granite and/or K-feldspar are also present, suggesting the granite and magnetite formed contemporaneously.

Page 15: Mep portfolio Review 1 Sept 2010

Project diversity, well funded, spending $7 million through 2010:

Cloncurry (Qld): geophysics underway on multiple IOCG targets

Aphrodite (SA): Major IOCG target 35km SE of Olympic Dam.Ready to drill in September. Shows very distinct similarities to the nearby ‘Carrapateena’ gravity anomaly

Border (SA): base metals, AEM & EM underway, drill in November

Mutooroo (SA): Braemar sedimentary hosted magnetite Fe deposit.Exploration target size to be assessed by end 2010 from Heli-EM and drilling

Poochera (SA): Highest quality kaolin resource. +50 year life. Planning new operation from end 2012, ramping from 50,000 tpa @ start up to +100,000 tpa (2 x wet processing modules)

Exploration focus - Australia

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 16: Mep portfolio Review 1 Sept 2010

looking for Ernest Henry style orebodies multiple IOCG targets over 546 km2

30km N of Ernst Henry IOCG mine

JV with Japan Oil Gas & Metals Corp

JOGMEC earning 51%

JOGMEC funding $4M over 3 years

Exploration - Cloncurry

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Cloncurry

Ernest Henry

Australia’s most productive copper belt vast areas under cover and

under-explored geophysics “sees through” the cover

to locate potentially mineralised targets (anomalies)

Page 17: Mep portfolio Review 1 Sept 2010

Drill ready Targets: Woolshed Flat Gypsy Plains Cormorant Cotswold

Exploration - Cloncurry

www.minotaurexploration.com.au

MINOTAUREXPLORATION

ground geophysics underway drill selected

geophysical targets in October-November aka Eloise, Osborne,

Ernest Henry

Page 18: Mep portfolio Review 1 Sept 2010

Woolshed Flat: entirely new IOCG target coincident magnetics, gravity, positive ground TEM anomalies on prominent NW trending fault

Exploration - Cloncurry

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 19: Mep portfolio Review 1 Sept 2010

Gypsy Plains: coincident magnetic high & gravity anomaly, adjacent a major EM conductive linear feature (dashed line)

in-filling gravity sections hole NRRCD-08 intersected massive magnetite with pyrite-chalcopyrite from 130m - 360m downhole hole NJVD12 on structure, intersected elevated Cu and high Fe; gravity being acquired

Exploration - Cloncurry

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 20: Mep portfolio Review 1 Sept 2010

Cormorant: new geophysics shows that previous explorers appear to have drilled parallel to the conductive structure (red line)

exceptionally strong EM conductor to be tested by new drill hole in October

Exploration - Cloncurry

www.minotaurexploration.com.au

MINOTAUREXPLORATION

new drill trace, oriented to intersect conductive plate

Page 21: Mep portfolio Review 1 Sept 2010

Aphrodite; a major new IOCG gravity anomaly 35km SE of Olympic Dam MEP 100% Offset Gravity/Magnetic anomalism 2009 discovery hole drilled to 800m below surface distinctive Olympic Dam style peripheral mineralisation in core, indicates close proximity to significant hydrothermal system

Exploration - Aphrodite IOCG target

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Aphrodite

Page 22: Mep portfolio Review 1 Sept 2010

Carrapateena pipesHole 2: 355m @ 1.25% Cu, 0.5 g/t Au

Hole 50: 905m @ 2.0% Cu, 1.0 g/t Au

Carrapateena-style hematite rich breccia system intersected 670m below surface core showed pervasive sericite alteration with hematite & chalcopyrite suggesting proximity to hydrothermal mineralisation new geophysics refined the centre of anomaly > new drill site located 600m S In September, will core drill down the anomaly to 800m depth

Exploration - Aphrodite IOCG target

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 23: Mep portfolio Review 1 Sept 2010

Exploration - Aphrodite IOCG target

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Carrapateena gravity anomaly, superimposed at same scale

0 1 2 3

km

Page 24: Mep portfolio Review 1 Sept 2010

multiple Pb/Zn targets

40km W of Broken Hill

JV with Sumitomo (MEP 40.9%)

ground geophysics underway drill selected targets Nov-Dec $700k budget in 2010

Exploration - Border Base metals

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 25: Mep portfolio Review 1 Sept 2010

Exploration - Mutooroo Fe

www.minotaurexploration.com.au

MINOTAUREXPLORATION

90km SW of Broken Hill

35km from E-W rail line

Heavy duty rail link 300km to Port Pirie JV with Sumitomo (MEP 40.9%)

initial drill intersections show 200m thick magnetite mineralised beds 3,500 line km of heli borne EM done to define magnetic sedimentary horizons drill targets through October - November $500k budget in 2010

Page 26: Mep portfolio Review 1 Sept 2010

Exploration - Mutooroo Fe

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Program for H2 2010:★ low level Heli-Mag data acquisition - completed in August★ 10 x RC & Diamond holes planned along 40km strike extent of magnetised beds★ Met test for optimal grind size★ estimate size of Exploration Target★ Scoping Study

Page 27: Mep portfolio Review 1 Sept 2010

Exploration - Mutooroo Fe

www.minotaurexploration.com.au

MINOTAUREXPLORATION

08RCMUT-­‐02 08RCMUT-­‐01

Page 28: Mep portfolio Review 1 Sept 2010

Exploration - Mutooroo Fe3D ground Magnetic Intensity shells

www.minotaurexploration.com.au

MINOTAUREXPLORATION

08RCMUT-­‐02 08RCMUT-­‐01

MUT02: 114m 20% DTR Fe with DTRC grade of 69.7% Fe

Page 29: Mep portfolio Review 1 Sept 2010

MEP 54.75% (Helix Resources 45.25%)

803,000 oz resource established multiple targets within 5km radius tested 4 targets in June (RC; 1650m) validated biogeochem method (gold in plants) as a viable exploration tool refer ASX release dated 30 June ’10

80km extents of Yarlbrinda shear zone remain untested

Exploration - Tunkillia gold project

www.minotaurexploration.com.au

MINOTAUREXPLORATION

Page 30: Mep portfolio Review 1 Sept 2010

Commercialisation - Poochera Kaolin

www.minotaurexploration.com.au

MINOTAUREXPLORATION

!

Granite decomposes to granitic kaolin through tropical weathering

Finished product size is 92% passing 2 microns.World consumption of highest quality ‘China

Clay’ exceeds 10 million tonnes per year.Used in plastics, paints, paper coatings, tyres

Page 31: Mep portfolio Review 1 Sept 2010

MEP 100% 20Mt Inferred Kaolin resource 5m - 50m below surface superior ‘Ultra white’ & ‘Ultra bright’ hydrous kaolin qualities; ISO Brightness R457 = 90 92% < 2u hydrous kaolin product pilot plant producing high quality calcining feedstock potential for +100kt pa operation for >50 years 100km from Port Thevenard, SA marketing exposure from October, leading to Offtake discussions leads into 2011 Pre-feasibility study

Commercialisation - Poochera Kaolin

www.minotaurexploration.com.au

MINOTAUREXPLORATION