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Macarthur Minerals Ltd.
Summary
| Project: | Lake Giles | |
|---|---|---|
| Deposit: | Lake Giles | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 12/10/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-12-2019: Macarthur Minerals Ltd. announces an Exploration/Drilling Update report for its Lake Giles deposit at the Lake Giles project. Drilling results incl. 94m @ 40.51% Fe from 86m. Macarthur Minerals Limited (TSX-V: MMS) (ASX: MIO) (the “Company” or | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ian S Cooper (Not stated) | |
| ABSTRACT: | Macarthur Minerals Limited (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) is pleased to provide an update on the recent infill drilling program at its Lake Giles Iron Project in the Yilgarn region of Western Australia. Infill Drilling has intersected a zone of high-grade magnetite mineralisation identified previously at the Moonshine North deposit and assay results have been received for several Reverse Circulation (RC) drill holes. The drilling programme commenced on 17 August 2019 and concluded on 8 December 2019 with a total of 21 RC holes and nine diamond drill holes completed. The results of the drilling campaign have shown a successful intersection of high-grade magnetite mineralisation. Previous test work has demonstrated the potential to produce a processed high-grade magnetite concentrate of approximately 68-69%. Mr Cameron McCall, Executive Chairman of Macarthur Minerals commented: “The Company is extremely pleased with its successful listing on the Australian Securities Exchange (ASX) and the positive market response in the first two days of trading. Macarthur’s dual listing on the ASX and the TSX-V will provide the Company with increased opportunities in the pre-development stage of its flagship Moonshine Magnetite Project. With Australia as a major exporter of iron ore to the world and the ASX being the home exchange to some of the world’s largest iron ore producing companies, it makes sense for Macarthur to be dual listed in Australia.” | |
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