Macarthur applies for exploration licence in Pilbara
2018-08-23 08:49 ET - News Release
Mr. Cameron McCall reports
MACARTHUR MINERALS ACQUIRES NEW PILBARA TENEMENT WITH HISTORIC BASE METAL MINERALIZATION IDENTIFIED
Macarthur Minerals Ltd. has applied for an exploration licence in close proximity to its Tambourah lithium project in the Pilbara region of Western Australia. A review of historical data indicates the area is prospective for nickel-copper-cobalt and platinum group element (PGE) mineralization.
Cameron McCall, executive chairman of Macarthur Minerals, commented: "This new area has solid exploration pedigree and is located in close proximity to the company's Tambourah lithium project acquired in September, 2017. The Tambourah lithium project has promising rock chip results up to 1.47 per cent LiO2. The company will commence fieldwork on this new area once granted and will actively seek joint venture partners for lithium and base metal exploration."
Exploration licence 45/5324 is located approximately 140 kilometres southeast of Port Hedland and 72 km west of Marble Bar, in the Pilbara region of Western Australia, covering a total area of 12.7 square km. The newly acquired tenement is ideally situated adjacent to the company's exploration licences E45/4848 and E45/4702, which comprise the company's Tambourah lithium project. The tenement is also in close proximity to West Wits Mining Ltd.'s Tambina Creek gold project where previous exploration reported rock chip samples up to 4.7 grams per tonne gold and costean trenching returning 5.7 g/t Au over four metres. The tenement also lies approximately 45 km south of Venturex Resources Ltd.'s Sulphur Springs and Kangaroo Caves Cu-Zn volcanogenic massive sulphide (VMS) deposits.
The tenement sits in the East Pilbara granite -- greenstone terrain of the Pilbara craton and lies predominantly over the Sulphur Springs and Gorge Creek groups and the Pilbara Supergroup, including the Kangaroo Caves formation, a setting which has been defined prospective for VMS-style mineralization.
The company recently completed a review of historical data and considers the area to be prospective for nickel-copper-cobalt and PGE minerals.
Between 2007 and 2008 Haddington Resources Ltd. completed a geochemical soil and rock chip sampling program in the southern area of the tenement. A total of 105 soil samples were collected over an area of three square km at 100 by 400 m spacing. Assays of soil samples show multielement anomalous values up to 2,060 parts per million nickel, 111 ppm cobalt and 257 ppm copper. A further 22 rock chip samples were collected with results up to 2,250 ppm Ni. These anomalies correlate to areas with favourable structures such as a faulting and contacts between BIF and ultramafic volcanic sequences in the greenstone terrane and are therefore considered a prospective horizon for base metal deposits.
The area has most recently been explored for iron ore by Atlas Iron Ltd. and Hancock Prospecting Pty. Ltd. In 2012, Atlas Iron drilled 26 RC holes in the northern area of the tenement, primarily focused on intersecting iron mineralization. Although drilling targeted the iron-rich BIF ridges, seven drill holes intersected zones of elevated nickel. For example, hole MWRC879 intersected eight metres at 0.6 per cent Ni and hole MWRC900 contained seven m at 0.6 per cent Ni (see attached table).
These geochem anomalies and drill hole results provide several targets worthy of further exploration. Further close spaced geochemical sampling is required along these structures and will be undertaken on grant of the exploration licence.
Qualified persons
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.
About Macarthur Minerals Ltd.
Macarthur Minerals is an exploration company that is focused on identifying high-grade gold and lithium. Macarthur Minerals has significant gold, lithium and iron ore exploration interests in Australia and Nevada. Macarthur Minerals has three iron ore projects in Western Australia: the Ularring hematite project, the Moonshine magnetite project and the Treppo Grande iron ore project.
ATLAS IRON'S DRILLING RESULTS Hole ID Sample ID From To Co % Cr % Cu % Fe % MgO % MnO % Ni % S % Zn % MWRC879 MW24864 14 16 0.03 11.293 -0.00 141.6 81.72 0.4 0.467 0.023 0.025 MWRC879 MW24865 16 18 0.03 51.758 -0.00 137.2 82.2 0.31 0.589 0.029 0.021 MWRC879 MW24866 18 20 0.04 1.556 -0.00 132.4 63.3 0.41 0.655 0.035 0.022 MWRC879 MW24867 20 22 0.03 91.5 -0.00 131.3 4.67 0.42 0.649 0.029 0.022 MWRC879 MW24868 22 24 0.03 21.37 -0.00 130.6 67.6 0.34 0.545 0.028 0.02 MWRC879 MW24869 24 26 0.01 60.63 -0.00 112.8 224.1 0.26 0.31 0.015 0.009 MWRC893 MW25225 10 12 0.03 1.424 0.003 38.6 81.8 0.23 0.385 0.028 0.021 MWRC893 MW25226 12 14 0.04 61.826 -0.00 135.1 32.55 0.46 0.609 0.036 0.018 MWRC893 MW25227 14 16 0.05 1.973 0.001 32.7 53.19 1.06 0.749 0.036 0.021 MWRC893 MW25228 16 18 0.04 32.056 -0.00 130.7 93.82 1.01 0.809 0.038 0.019 MWRC893 MW25229 18 20 0.02 61.534 -0.00 121.7 99.42 0.33 0.599 0.035 0.014 MWRC893 MW25230 20 22 0.01 50.706 -0.00 112.0 229.1 0.17 0.343 0.03 0.006 MWRC900 MW25394 10 12 0.02 50.794 -0.00 123.1 18.13 0.19 0.404 0.03 0.011 MWRC900 MW25395 12 14 0.03 71.29 0.002 32.6 23.65 0.3 0.583 0.037 0.019 MWRC900 MW25396 14 16 0.04 51.608 0.001 32.1 83.89 0.25 0.701 0.045 0.017 MWRC900 MW25397 16 18 0.04 31.425 -0.00 134.3 23.02 0.24 0.627 0.035 0.015 MWRC900 MW25398 18 19 0.04 31.536 -0.00 136.8 12.74 0.23 0.634 0.036 0.015
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