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Macarthur Minerals Ltd.
Summary
| Project: | Lake Giles | |
|---|---|---|
| Deposit: | Moonshine, Moonshine North | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 1/16/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2020: Macarthur Minerals Ltd. announces an Exploration/Drilling Update report for its Moonshine, Moonshine North deposit at the Lake Giles project. Drilling results incl. 101.2m @ 28.4% Fe from 72.8m. Macarthur Minerals Limited (TSX-V: MMS) (ASX: MIO | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ian S Cooper (Internal) | |
| ABSTRACT: | Macarthur Minerals Limited (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has confirmed significant intersections of magnetite mineralisation at its Lake Giles Iron Project near Kalgoorlie in Western Australia following the completion of its infill drilling program. Drilling at the Moonshine North deposit comprised 21 reverse circulation (RC) holes for 3379 metres advance and 9 diamond drill (DD) holes for 1676.2 metres advance totalling 5055.2m. Drilling was completed in December 2019 with final assay results received this week. “This is an outstanding result that builds our confidence to upgrade the resource classification to include Indicated and Measured Mineral Resources,” Mr McCall said. “The updated mineral resource, when completed, will underpin the Feasibility Study to be completed for the Lake Giles Iron Project.” Mr McCall said current drilling was spaced closer together to upgrade the resource classification for some of the Moonshine and Moonshine North deposits to include Indicated and Measured Mineral Resources. Previously, the deposits were defined by drill hole spacings of 200m x 200m and classified as an Inferred Mineral Resource of approximately 710 mt at 30.2% Fe1 . | |
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