| Announcement Date: | 2022-03-15 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | Macarthur Minerals Ltd. |
| Project name: | Lake Giles |
| Location: | Australia |
| Commodities: | Iron,Alumina,Silica,Phosphorous |
| Highlight: | Updated Resource and Initial Reserve Estimates for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Macarthur Minerals Limited (ASX: MIO) (TSX-V: MMS) (OTCQB: MMSDF) (the Company or Macarthur) is pleased to announce a maiden Mineral Reserve Statement for the Lake Giles Iron Project as at 15 March 2022. The Mineral Reserve defined for the Lake Giles Iron Project, incorporatesthe Moonshine and Moonshine North magnetite deposits. The Lake Giles Iron Project is 100% owned by Macarthur Iron Ore Pty Ltd, (a wholly owned subsidiary of Macarthur Minerals Limited). The Mineral Reserve has been incorporated into a Feasibility Study which demonstrates a technically and economically viable project. The final Feasibility Study will be released to the market in the next 45 days. Mineral Reserves are reported in accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Definition Standards). The Lake Giles Iron Project is located 250 km northwest of Kalgoorlie in the Yilgarn region of Western Australia. Regional Geology and Geological Interpretation The Mineral Reserve forms part Indicated and Measured Mineral Resources of the Lake Giles Iron Project encompassing the Moonshine and Moonshine North magnetite deposits. The Mineral Resource estimate was completed by CSA Global Pty Ltd (CSA Global) |
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