Located 50km southeast of Cloncurry, Artemis is said to be a high-grade polymetallic area west of the Eloise copper-gold mine.
The joint venture (JV) committee has approved the Minotaur’s work plan and budget of $6m.
With this move, JV partner Adelaide-based Golden Fields Resources will be able to acquire 50% interest in the EPM 17838 and EPM 18442 tenements.
GFR has to date gained control of 15% interest in the tenements. Currently low-frequency, fixed-loop B-Field EM surveys are being carried out at Artemis.
Minotaur Exploration said: "Down-hole EM will be used in each borehole to check conductor continuity between holes and refine dip orientation of conductive plates."
The EM system will also be deployed at the Sandy Creek deposit to identify potential pods within the resource.
