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Macarthur Minerals announces encouraging initial drill results at the Pilbara Hillside Project

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Macarthur Minerals announces encouraging initial drill results at the Pilbara Hillside Project

 

 

 

 

 

Macarthur Minerals Limited (TSX-V: MMS) (ASX: MIO) Joint Venture Partner, Fe Limited has received encouraging results from its first phase preliminary drilling at the Hillside Project in Western Australia targeting underground extensions to the periodically outcropping mineralised gossan identified during previous reconnaissance.  A total strike length of 14km was mapped and sampled at outcrop resulting in high grade rock chip results as reported in ASX announcement October 9, 2019.

 

Highlights

 

  • Encouraging results received from recent Hillside drilling
  • Results demonstrate support for mineralised gossan model
  • Down dip extension of mineralised gossan intercepted in two holes
  • Anomalous results received include:
  • HRC 001: 1m @ 0.19% Cu, 230ppm Co, 0.14% Zn, 0.07ppm Au from 28m
  • HRC 022: 1m @ 0.74% Cu, 349ppm Co, 0.41% Zn, 0.14ppm Au from 83m
  • HRC 036: 1m @ 0.18% Cu, 0.12% Zn from 25m, 1m @ 0.27% Cu from 40m
  • All Intercepts demonstrate down dip extensions to the mineralised gossan at surface

 

A copy of FEL’s full release is available here.

 

A total of 1798m from 36 holes were drilled at approximately 1km intervals targeting underground extensions to the periodically outcropping mineralised gossan identified during previous reconnaissance.

 

Limited historical targeting data was available, and first pass hole locations were chosen using estimated dip and dip direction from the interpreted lineament of the mineralised strike. Supporting information included field observations, a coincident westerly dipping magnetic anomaly with its eastern extent coinciding roughly with the interpreted gossan lineament and the presence of highly leached surface lithologies indicating the possibility of sulphides at depth.

 

The Company has now received all results of the assays and initial interpretation shows three holes have been positively identified to have intercepted down dip extensions of the surface gossan. These holes span the entire length of the mapped strike length demonstrating down dip extension of the surface mineralisation.

 

Figure 1. Schematic of typical gossan section:

 

Figure 1 is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/0ae266da-efad-4b2a-b632-8e9c6e877b28

 

Guidance for next phase planning

 

Grades in all intersections show strongly anomalous mineralisation and provide valuable guidance for hole location in the next phase of drilling. Planning for the next phase of exploration will be completed following full interpretation of initial assay results. 

 

The central and northern most holes intercepted the anomalous zone towards the end of the respective holes which indicates why some of the other planned holes failed to intersect the target.

 

The southernmost hole intersected a wide zone of anomalism from 23m down to 42m with increasing levels of zinc continuing below.

 

All three holes intersected anomalism below the optimal supergene and enrichment zones.  This information will allow more accurate dip data to be used in locating further follow up drilling and target depths which will attempt to intersect supergene and enrichment zone mineralisation. Figures 2, 3 and 4 show cross sections of the intersecting holes with the interpreted target body and show where other nearby holes failed to intersect

 

Anomalous gold grades

 

In addition, one hole towards the northern extent of the project area returned strongly anomalous gold grades from targeted drilling in known gold bearing quartz veins.

 

As the quartz veins are host to nugget gold, the anomalous grades returned can be considered significant and represent the presence of fine gold given no visible gold was logged.

 

Fe Limited’s initial preliminary drilling was conducted along the total strike length of 14 kilometres that was mapped and sampled at outcrop resulting in high-grade rock chip results.

 

Fifteen samples gathered were from outcropping gossan both with and without visible copper minerals with a high sample result of 18.8% among eight samples that returned copper values in excess of 1%.

 

The 18.8% sample also returned 1.2ppm gold, 77ppm silver, 0.17% zinc and 0.057% cobalt.

 

Figure 2. Section 7 599 760 North:

 

Figure 2 is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/b1bb8314-7fe7-4d97-bec7-7f75922dde61

 

Figure 3. Section 7 592 258 North:

 

 

Figure 3 is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/07ee1888-0409-4334-a302-b57662bc5c3a

 

Figure 4. Section 7 586 060 North:

 

Figure 4 is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/b6b8e0c1-9983-4e7d-889d-d97bf273d400

 

Figure 5. Drill hole plan show section locations:

 

Figure 5 is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/096b6cba-cd8f-4f13-8f1a-c2f01da18037

             
 

Table 1.  Drill Hole Locations:

 

             
Hole ID Easting Northing RL Dip Azimuth Depth
HRC001 774880 7599753 326 60 79 59
HRC002 774905 7599757 325 60 77 39
HRC003 774798 7599678 327 60 75 40
HRC005 774868 7599257 331 60 87 88
HRC005b 774900 7599256 330 60 93 31
HRC006 774711 7599252 338 60 71 41
HRC007 774995 7598203 335 60 82 40
HRC008 774935 7598190 340 60 94 6
HRC008RE 774934 7598190 340 60 94 66
HRC009 775012 7597258 335 60 93 30
HRC010 774952 7597259 338 60 90 61
HRC013 775033 7595184 352 60 90 39
HRC014 774986 7595157 353 60 86 60
HRC015 775040 7594249 361 60 86 30
HRC016 774998 7594241 363 60 79 60
HRC017 775217 7593257 362 60 85 30
HRC018 775155 7593249 364 60 92 60
HRC019 774949 7592959 369 60 5 30
HRC020 774950 7592939 369 60 353 60
HRC021 775569 7592247 362 60 78 30
HRC022 775535 7592246 362 60 79 88
HRC023 775333 7592256 365 60 49 50
HRC024 775511 7591246 372 60 123 49
HRC025 775546 7591212 373 60 99 80
HRC027 775205 7592656 365 60 86 100
HRC028 775459 7590265 360 60 82 72
HRC030 775409 7589246 354 60 103 59
HRC032 775404 7588251 367 60 87 70
HRC033 775430 7588243 366 60 99 36
HRC034 775334 7587256 365 60 74 72
HRC036 775252 7586069 363 60 90 80
HRC038 774800 7599688 327 60 75 33
HRC039 774782 7599738 326 60 79 30
HRC039b 774794 7599740 326 60 79 40
HRC100 775578 7591193 374 60 102 36

 

Earn-in with Macarthur

 

Macarthur Lithium Pty Ltd (“MLi”), a wholly owned subsidiary of Macarthur entered into an exclusive option agreement with FEL as announced on May 14, 2019, to earn up to 75% in its Pilbara lithium and gold projects in respect of 7 tenements in the Pilbara ranging from south of Nullagine to north of Pilgangoora.

 

About Fe Limited

 

FE Limited (ASX: FEL) is a listed mineral exploration Company that holds or has rights or interests in various projects and tenements prospective for battery metals, copper, iron ore, gold and base metals located in Australia. The Company is focused on the exploration of battery metal projects. In March 2019, FEL entered into an agreement to acquire the Pippingarra Lithium Project and the Marble Bar Lithium Project (Project) from Mercury Resources Group Pty Ltd. These areas complement the tenement portfolio of Macarthur Minerals, establishing an 1800 square kilometer exploration footprint in the important Lithium and Gold region of Western Australia.

 

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.

 

Company profile

 

Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Lake Giles Iron Project mineral resources include the Ularring hematite resource (approved for development) comprising Indicated resources of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26 million tonnes at 45.4% Fe; and the Moonshine magnetite resource of 710 million tonnes (Inferred). Macarthur has prominent (~1,281 square kilometer tenement area) gold, lithium and copper exploration interests in Pilbara region of Western Australia. In addition, Macarthur has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.

 

Posted February 11, 2020

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