ann...how good is that!!!

More AU than you can shake a stick at!!

........especially the last bit!!!!!

I like it.......!!!

Minotaur Resources Ltd
247Greenhill Road, Dulwich 5065, South Australia
Tel: +61 8 8366 6000 Fax: +61 8 8366 6001
Website www.minotaurresources.com.au
Email [email protected]
A.C.N. 091 504 497
15 October 2004
DRILLING UPDATE - PROMINENT HILL
Prominent Hill Joint Venture ELs 3056, 3079, 3162 and 2597
Minotaur Resources Ltd 100%, Oxiana Limited earning up to 65%.
Resource drilling continues at Prominent Hill, with the current results focussed on the
western and eastern extensions to the mineralisation. The resource announcement of
August 26 did not include areas of gold-only mineralisation in these areas.
The drilling confirms the presence of significant gold-only mineralisation in the
west and suggests a significant increase to the gold inventory at Prominent Hill
will be achieved.
WESTERN AREA
Extensions to the gold-only mineralisation outside of the Prominent Hill Resource
have been discovered in the western portion of the deposit. This is highlighted by the
results from hole PHO4 D079, drilled on the western edge of the currently outlined
mineralised system to intersect the entire mineralised system from north to south. As
anticipated, this hole intersected the copper-gold breccia, returning intercepts such as:
69.0 metres at 2.34% copper and 0.23 g/t gold from 435.0 metres down hole;
25.0 metres at 1.87% copper and 0.72 g/t gold from 666.0 metres; and
31.0 metres at 1.74% copper and 0.94 g/t gold from 763.0 metres.
Potentially of greater significance however, is that the hole, on the southern footwall
of the copper-gold mineralization, entered steely haematite with gold-only
mineralisation immediately after intersecting the copper-gold mineralisation reported
above. The hole intersected:
28.0 metres at 3.72 g/t gold from 794 metres
and ended in high-grade mineralisation with the last six metres returning an uncut
average of 10.4 g/t gold. The final metre returned 27 g/t gold. The intersection is
open at depth and in section (Figure 2) indicates a complex transition from copper-gold
breccias to gold-only mineralisation associated with the western steely
haematite.