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Macarthur Minerals Ltd.
Summary
| Project: | Lake Giles | |
|---|---|---|
| Deposit: | Moonshine North | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 5/5/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-5-2020: Macarthur Minerals Ltd. announces an Exploration/Drilling Update report for its Moonshine North deposit at the Lake Giles project. Drilling results incl. 83m @ 68.78% Fe from 96m. Macarthur Minerals Limited (TSX-V: MMS) (ASX: MIO) (the “Company” | |
| Resources: | x | |
| CP/QP: | [Overall Report] Andrew Hawker (Not stated) | |
| ABSTRACT: | Macarthur Minerals Limited (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has recenty received the final XRF and Davis Tube Recovery (DTR) assays for the infill drilling program completed at its Lake Giles Iron Project near Kalgoorlie in Western Australia. The DTR assays confirm signficant intersections of magnetite mineralisation with DTR concentrate grades up to 68.9% Fe. Drilling at the Moonshine North deposit comprised 21 reverse circulation (RC) holes for 3379 metres and 9 diamond drill (DD) holes for 1676.2 metres, totalling 5055.2m. A total of 25 holes were submitted for XRF and DTR analysis. Macarthur has now engaged CSA Global to complete an updated resource model and classification Macarthur Minerals Executive Chairman Mr Cameron McCall said that “The assay results for the infill drilling confirmed good intersections of magnetite. This has been a successful program, and these intersections will form the basis of a revised mineral resource estimate that will underpin the Feasibility Study.” Mr McCall also said that “Macarthur has been working hard on progressing key components of the Lake Giles Iron Project, and is well underway in advancing discussions to achieve a contracted position with port and rail service providers. | |
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