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Macarthur Minerals Ltd V.MMS

Alternate Symbol(s):  MMSDF

Macarthur Minerals Limited is an Australia-based iron ore development, and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Company has three iron ore projects in the Yilgarn region of Western Australia and two exploration project areas in the Pilbara, Western Australia for targeting iron ore. In addition, it has lithium brine interests in Railroad Valley, Nevada, United States. Its iron ore projects include Ularring Hematite Project, Moonshine Magnetite Project and Treppo Grande Project. The Lake Giles Iron Ore Projects (Moonshine Magnetite Project and the Ularring Hematite Project) are located on mining tenements covering approximately 62 square kilometers (km2), 175 kilometers northwest of Kalgoorlie in Western Australia. The Treppo Grande Project covers an area of over 68 km2. The Pilbara Projects tenements include E45/5324 and E45/4735. The Reynolds Springs lithium brine project covers an area of around 18 km2.


TSXV:MMS - Post by User

Bullboard Posts
Post by goldengirl20on Oct 26, 2016 8:53am
134 Views
Post# 25386497

The weekly news update

The weekly news updateMacarthur Minerals Limited (TSX VENTURE: MMS) (the "Company" or "Macarthur Minerals") is pleased to announce that it has commenced staking a significant number of new claims surrounding its Stonewall Lithium Project ("Stonewall Project"), because of the lithium prospectivity of the Lida Valley, indicated by surface grades returned from the initial drilling program of up to 145.5 parts per million ("ppm") lithium ("Li"). The Stonewall Project is located in the Lida Valley, Nevada, the basin adjacent to the Clayton Valley, which hosts North America's only producing lithium mine, Albemarle's Silver Peak Lithium Mine. Expansion of the Stonewall Project, by staking additional claims, will increase the Company's footprint in the Lida Valley to almost of all the playa (dry lake bed). Based on the significant lithium results already received from the first pass lithium exploration programme in the Lida Valley last week, the Company plans to secure as much of the prospective acreage in the Valley as soon as possible, prior to commencing the next phase of exploration. As previously announced, lithium has been detected at the Stonewall Project from a shallow drilling program conducted as part of due diligence, for acquisition of the Stonewall Project. All nine shallow drill holes reported lithium, with grades up to 145.5 ppm Li from near surface sediment, confirming that lithium is present in the Lida Valley(1).
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