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Macarthur Minerals Ltd.
Summary
| Project: | Lake Giles | |
|---|---|---|
| Deposit: | Lake Giles | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 6/17/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-6-2019: Macarthur Minerals Ltd. announces a PEA report for its Lake Giles deposit at the Lake Giles project. PEA results incl. post-tax NPV (8%) of A$535M. The Lake Giles Project (“Project”) is located approximately 150 kilometres north-west of the tow | |
| Resources: | ||
| CP/QP: | [Overall Report]: Neville Dowson, David Williams, Shane Fieldgate (Engenium Pty Ltd.;CSA Global Pty Ltd.;Independent) | |
| ABSTRACT: | The Lake Giles Project (“Project”) is located approximately 150 kilometres north-west of the town of Kalgoorlie in the state of Western Australia (Figure 1). The Project is owned by Macarthur Iron Ore Pty Ltd (MIO), a 100% owned subsidiary of Macarthur Minerals (Macarthur or MMS). The Project consists of a series of Banded Iron Formation (BIF) hematite and magnetite prospects. This report covers the mineral resource and preliminary economic assessment (PEA) of the magnetite mineralisation of the Moonshine and Moonshine North prospects, completed by Snowden and the hematite resources of the Ularring project completed by CSA Global. The resources of the Ularring Hematite Project and Moonshine Magnetite project were previously reported as stand-alone projects. A Pre-Feasibility Study was completed for the Ularring Hematite Project (CSA, 2012) and a preliminary economic assessment was completed for the Moonshine Magnetite Project (Snowden, 2011). The mineral resources remain current but Macarthur considers the operational philosophy to be outdated due to changes in the iron ore market. The Lake Giles Project presented herein is a combined magnetite and hematite operation of smaller scale. The preliminary economic assessment is preliminary in nature and includes Inferred Resources which cannot have the modifying factors applied to them to convert them to reserves, and there is no certainty that the preliminary assessment will be realised. | |
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