VANCOUVER, British Columbia, Oct. 13, 2017 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V:MMS) (the “Company” or “Macarthur Minerals”) is pleased to announce that:
- the Western Australian Minister for Mines and Petroleum will not refuse any of the applications for exploration licences made by Macarthur Lithium Pty Ltd in the Pilbara. These tenements will now proceed to grant; and
- the applications for forfeiture made against each of the Company’s 15 iron ore tenements will be withdrawn.
David Taplin, President, Director and CEO of Macarthur Minerals commented:
“We are pleased with the withdrawal of the forfeiture applications over our iron ore projects and the decision by the Western Australian Minister for Mines and Petroleum, which allows our 1,500km2 of exploration licence applications in the Pilbara to progress to grant. This clears the way forward for exploration activities on the Pilbara tenure to commence.”
S111A Request
On May 24, 2017, the Company’s 100% owned subsidiary Macarthur Lithium Pty Ltd (“MLi”) was informed by the Department of Mines, Industry Regulation and Safety (“DMIRS”) that the Minister of Mines and Petroleum was requested to exercise his power under section 111A of the Mining Act 1978 (WA) and refuse MLi’s applications for exploration licences in the public interest (“s111A Request”). MLi’s applications relate to Pilbara gold and lithium tenements.
DMIRS has advised the Company, that the Minister, following careful consideration of the submissions and the responsive comments provided by the Company, that he considers that it is not in the public interest to refuse the applications for exploration licence made by MLi.
Forfeiture Applications
On March 10, 2017, Macarthur Iron Ore Pty Ltd (“MIO”) was served with applications for forfeiture by a third party against each of its 15 iron ore tenements (“Forfeiture Applications”).
The third party has agreed to withdraw the Forfeiture Applications.
Steps going forward
Macarthur Minerals anticipates that the Pilbara exploration license applications will commence granting within a few weeks following execution of heritage agreements. This allows the Company to commence exploration activities on those tenements.