Latest News Release From April 3/18I haven't seen this news release before today. Nothing exciting.
Stream Sediment Sampling Completed for Conglomerate Gold at Panorama and Bonnie Scot Projects in the Pilbara, Western Australia
GlobeNewswire - Tue Apr 3, 7:01AM CDT
Macarthur Minerals Limited (TSXV:MMS.VN) (the "Company" or "Macarthur Minerals") is pleased to announce that Artemis Resources Limited ("Artemis") has completed a stream sediment sampling program at the Company's Panorama and Bonnie Scot Projects in the Pilbara. Samples will now be dispatched to the laboratory for analysis and results will be released when available.
Mr Cameron McCall, Executive Chairman of Macarthur Minerals commented: "Macarthur Minerals is excited to have commenced exploration at the Company's Panorama and Bonnie Scot Projects, which is prospective for conglomerate gold and looks forward to obtaining the assay results."
Artemis Resources Limited (ASX:ARV) is to earn-in up to 80% interest in the Panorama Project, which consists of two tenements, E45/4779 and E45/4732 covering a total of 265km. The Panorama Project sits adjacent to E45/4764 (Bonnie Scot) covering a total of 13 kmin the Pilbara.
The sampling program was to explore the area for conglomerate gold as mapping shows extensive outcrops of Mt Roe Basalts and Hardey Formation (Figure 1). The Mt Roe Basalt is known to overlie the conglomerate gold horizon at Artemis' Purdy's Reward. Similarly, beds of auriferous (gold containing) conglomerate up to 2 m thick at the base of the Mt Roe Basalt have been worked at the Just-In-Time and Tassy Queen mines located within 10 km of the tenements and in close proximity to ground held by Novo Resources Limited and Creasy Group (Torne and Trendall, 2001).
Historical rock samples within the tenements have recorded results of up to 3.5 g/t Gold.
QUALIFIED PERSONS
Mr Andrew Hawker, a member of the Australian Institute of Geoscientists, is a full-time employee of Hawker Geological Services Pty Ltd and is a Qualified Person as defined in National Instrument 43-101. Mr Hawker has reviewed and approved the technical information contained in this news release.
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