- Macarthur Minerals Limited (MMS) is applying for tenements to support a groundwater search drilling program
- The company recently completed a Tempest airborne electromagnetic (AEM) survey of palaeovalleys adjacent to the Lake Giles Iron Project
- Macarthur is continuing to work with consulting hydrogeologists to define a source for process water requirements for magnetite processing
- The project is located in the Yilgarn Region of south-western Western Australia
- Macarthur Minerals is up 2.13 per cent on the day, with shares of the company trading at C$0.48 at 12:37 pm ET
Macarthur Minerals Limited (MMS) is applying for tenements to support a groundwater search drilling program.
The company recently completed a Tempest airborne electromagnetic (AEM) survey of palaeovalleys adjacent to the Lake Giles Iron Project.
The project is located in the Yilgarn Region of south-western Western Australia.
Macarthur has now made applications for two groundwater search miscellaneous licences covering an area of 553 square kilometres across the prospective zone interpreted from the AEM survey.
Macarthur is continuing to work with consulting hydrogeologists to define a source for process water requirements for magnetite processing at the project.
“Macarthur’s applications for two Miscellaneous Licences to support planned groundwater search activities is another step forward for the Lake Giles Iron Project Feasibility Study.
Following completion of analysis of the AEM survey data, Macarthur will work with consulting hydrologists from Rockwater, to identify suitable drill targets,” said Macarthur Minerals CEO Andrew Bruton.
“The company plans to commence groundwater exploration activities as soon as possible following the grant of the relevant tenements. This important programme of work will enable the company to test the quantity and quality of water required to support its magnetite processing requirements, and it will form part of a much broader scope of site-based activities planned by the company at Lake Giles this year.”
Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects.
Macarthur Minerals is up 2.13 per cent on the day, with shares of the company trading at C$0.48 at 12:37 pm ET.
