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- A review of historical drilling assay data has identified 319 drill holes, within MIO tenure, with highly anomalous nickel 0.1% or greater, including 150 drill holes recording 0.2% and greater indicating that there is significant potential for nickel mineralisation.
- Historical drilling mainly targeted iron ore with approximately 50% of the drilling not yet analysed for nickel and associated elements.
- The key geological unit that is interpreted to host the potential for nickel at Lake Giles is a komatiite ultramafic unit with similarities to the
Lake Johnston komatiite system hosting the richMaggie Hays nickel mine (ASX: POS). - Significant Ni intercepts from historical drilling and trench sampling highlight the potential for economic Ni mineralisation at Lake Giles, including:
- LGRC_0010 (288m): 128m @ 0.17% Ni (from 108m) including 1m @ 0.29% Ni;
- LGRC_0015 (168m): 106m @ 0.15% Ni (from 62m) finished in anomalous Ni;
- LGRC_0018 (370m): 103m @ 0.16% Ni (from 77m) and 23m @ 0.17% Ni (from 235m);
- LGDD_054 (363m): 23.5m @ 0.85% Ni (from 4.5m) including 11.5m @ 1.03% Ni (from 10.5m); and
- Gossanous outcrop with grab samples assaying 2.61% Co and 2.01% Ni.
- Seven advanced targets have been identified that are considered highly prospective for nickel mineralisation and these remain completely untested.
- Further interrogation of the historical geological, geophysical and geochemical dataset is likely to define more highly prospective nickel targets and is likely to lead to the definition of nickel mineralisation within the Lake Giles Project Area.
- 41 diamond drill holes completed by Macarthur in 2019 across the Moonshine and Moonshine North targets have intersected numerous altered komatiites, which are yet to be assayed.
- Macarthur now plans to carry out specific nickel targeted exploration including assaying the geotechnical diamond drill core and selected anomalous RC chips for a broad analytical suite of elements, Downhole Electromagnetic surveying (DHEM) on targeted open holes, as well as further ground-based electromagnetic surveying upon recommendation from Newexco.
- Macarthur is seeking potential partners to accelerate a Ni discovery within the
Lake Giles Project .
"Since the completion of the Lake Giles Iron Project Feasibility Study, the Company has been actively assessing the nickel prospectivity of the project area and has identified seven nickel prospects within our
The Project is owned by
The Project is primarily an advanced iron ore project, with a completed feasibility study to use conventional open pit mining methods for a series of banded iron formation (BIF) hematite and magnetite prospects.
The Lake Giles tenements cover the Yerilgee greenstone belt located in the central part of the
The prospective ultramafic rocks of the Project are interpreted to be of Kambalda komatiite type. Serpentinised olivine cumulate rocks sometimes metamorphosed to talc-carbonate occur in many places and are considered to have a high potential for the discovery of nickel sulphides. These have similar characteristics to those of the Forrestania and Lake Johnston greenstone belts. The Lake Johnston nickel mineralised bodies such as
In Geoscience Australia's 2016 report1 on the 'Potential for intrusion-hosted Ni-Cu-PGE sulfide deposits'1 they highlighted the potential as moderate to high for either or both tholeiitic intrusion-hosted and komatiite-hosted Ni-Cu-PGE sulfide deposits within the Yerilgee Greenstone Belt and hence the
The tenements were briefly and only partially explored for nickel from 1968 to 1972 during the Nickel Boom, and then for gold from 1974 to 1978. Macarthur and its predecessor
A combination of available historical data, recent geological, geophysical, and geochemical data obtained in the course of Macarthur's extensive geological investigation of the Banded Iron Formation ("BIF") for iron ore potential, has indicated that there is potential for nickel sulphide and gold mineralisation within the extensive ultramafic rock package hosting the BIFs that comprise the
A review and evaluation of geological, geochemical and geophysical data obtained in the course of Macarthur's extensive geological investigation of the
Drilling by Macarthur of the iron formations has demonstrated a potential for disseminated and potentially massive nickel sulphides in these overlying komatiitic ultramafics at Lake Giles, with further potential for concentrated secondary nickel in the weathered profile overlying the fresh komatiites.
Significant Ni intercepts from historical drilling completed by Macarthur have highlighted the potential for economic Ni mineralisation at Lake Giles, including:
- LGRC_0010 (TD - 288m): 128m @ 0.17% Ni (from 108m) including 1m @ 0.29% Ni;
- LGRC_0015 (TD - 168m): 106m @ 0.15% Ni (from 62m), finished in anomalous Ni;
- LGRC_0018 (TD - 370m): 103m @ 0.16% Ni (from 77m) and 23m @ 0.17% Ni (from 235m);
- LGDD_054 (TD - 363m): 23.5m @ 0.85% Ni (from 4.5m) including 11.5m @ 1.03% Ni (from 10.5m);
and - Gossanous outcrop with grab samples assaying 2.61% Co and 2.01% Ni.
Forty-one geotechnical diamond drill holes completed by Macarthur across the Moonshine and Moonshine North targets have intersected numerous altered komatiites that appear prospective for nickel, which are yet to be assayed. The drill core is stored on site and requires detailed logging, cutting and analysis. This work will begin shortly.
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1 Dulfer, H., Skirrow, R.G., Champion, D.C., Highet, L.M., Czarnota, K., Coghlan, R. & Milligan, P.R. 2016. Potential for intrusion-hosted Ni-Cu-PGE sulfide deposits in |
Further targets are recommended for follow up based on drill assay anomalies and historical geophysical anomalies associated with potentially significant highly magnetic ultramafic footwall 'bulges', which are interpreted to represent a thickening and embayment of the komatiite flow into the footwall stratigraphy.
Nickel exploration on the Lake Giles tenure is at an early stage. Much of the Lake Giles nickel boom exploration data together with recent observations suggest a favourable environment for the occurrence of nickel mineralisation. An updated knowledge of regolith characteristics together with the factors influencing the primary occurrence of nickel sulphide deposits and their frequent remobilisation during folding and faulting is now likely to result in much more efficient and focused exploration than in the past nickel booms.
Further interrogation of the historical geological, geophysical and geochemical dataset is likely to define more highly prospect nickel targets and has high potential for the definition of nickel mineralisation within the Lake Giles Project Area.
Macarthur is currently preparing to carry out specific nickel targeted exploration including assaying the prospective intervals from the geotechnical diamond drilling for a broad analytical suite of elements, Downhole Electromagnetic surveying (DHEM) on targeted open holes, as well as further ground-based electromagnetic surveying upon recommendation from third party geophysical consultants
Macarthur is seeking potential partners to accelerate a Ni discovery within the
Released On behalf of the Board of Directors, Mr
Exploratiion Results
Mr.
Mineral Resources:
Mineral Reserves:
The information in this report relating to Mineral Reserves is based on information compiled by
Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding expected completion of the Feasibility Study; conversion of Mineral Resources to Ore Reserves or the eventual mining of the Project, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in iron or magnetite demand or substitution by other metals or materials; the discovery of new large low cost deposits of iron magnetite; the general level of global economic activity; failure to complete the FS; inability to demonstrate economic viability of Mineral Resources; and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Macarthur Minerals Limited . (2019,December 05 ). Replacement Prospectus.Western Australia : TSXV Release.Macarthur Minerals Limited . (2020,March 24 ). Macarthur set to advance Moonshine nickel prospect with EIS co-funded drilling.Western Australia : TSXV Release.Macarthur Minerals Limited . (2020,March 25 ). Macarthur seek Venture Partner to further explore its nickel projects inWestern Australia .Western Australia : TSXV Release.
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2 MMS TSXV Announcement dated |
Grab sample by Macarthur was announced to the TSX on
The majority of the soil and auger samples were captured by
Initial exploration during 1968 and 1969 included reconnaissance geological mapping, gridding and soil sampling. This was followed up with ground magnetics surveys, IP (induced polarisation) surveys, auger drilling and finally two programs of percussion drilling. A comprehensive final report is available (Wamex report A3911). All geochemical samples were assayed for Ni and Cu, and the auger samples were also assayed for Cr, Co and Zn. Most of the data has been able to be transcribed into digital format.
Soil samples were taken at 100 foot intervals over most of the gridded area. The ~80 mesh fraction of each sample was analysed for copper and nickel and the results plotted and contoured at a scale of 1000 feet = 1 inch
Auger drilling here, however provided serpentinite nickel values. Copper was contoured at 90 ppm and was found to coincide with anomalous nickel values at nine locations in the three grid areas that covered large portions of the
Table 1: Surface Sample Statistics. | ||||||||
Company | Count of | Min of | Max of | Average of | Count of | Min of | Max of | Average of |
Amax | 8091 | 0 | 3151 | 164.7 | 624 | 15 | 10400 | 867.9 |
Consolidated | 1599 | 30 | 2000 | 180.7 | ||||
LeNickel | 1028 | 0 | 1226 | 205.0 | ||||
Macarthur | 3108 | 0 | 2360 | 81.2 | ||||
Grand Total | 13826 | 0 | 3151 | 150.8 | 624 | 15 | 10400 | 867.9 |
These surface sample locations are shown in Figure 3.
Surveying covered three prospect areas;
Drilling from 2,369 drill holes has been databased and broken down by Macarthur tenement in Table 2 and nickel target area in Table 3.
Table 2: Drilling Statistics by Macarthur Tenement. | |||||||
Tenement | Total Holes | Min Depth | Max Depth | Average | Sum of DD | Sum of RC | Total Ni |
E 30/522 | 12 | 150 | 150 | 150 | 0 | 0 | 0 |
M 30/206-I | 89 | 50 | 351 | 216 | 1097 | 16965 | 4512 |
M 30/207-I | 39 | 19 | 342 | 181 | 464 | 6242 | 1452 |
M 30/213-I | 56 | 30 | 306 | 104 | 546 | 4908 | 112 |
M 30/214-I | 21 | 7 | 282 | 102 | 360 | 1775 | 17 |
M 30/215-I | 32 | 24 | 384 | 158 | 220 | 4839 | 803 |
M 30/216-I | 4 | 36 | 48 | 44 | 0 | 174 | 174 |
M 30/217-I | 18 | 30 | 64 | 48 | 0 | 863 | 863 |
M 30/227-I | 95 | 29 | 288 | 77 | 84 | 7199 | 3116 |
M 30/228-I | 130 | 1 | 370 | 134 | 1120 | 15069 | 3500 |
M 30/229-I | 102 | 30 | 186 | 62 | 138 | 6139 | 1524 |
M 30/248-I | 31 | 48 | 302 | 201 | 0 | 5936 | 615 |
M 30/249-I | 806 | 1 | 288 | 59 | 1034 | 45729 | 8752 |
M 30/250-I | 9 | 100 | 252 | 159 | 100 | 1330 | 419 |
M 30/251-I | 683 | 6 | 131 | 55 | 621 | 36620 | 28378 |
M 30/252-I | 62 | 24 | 85 | 51 | 0 | 3191 | 2614 |
Outside of | 180 | 7 | 348 | 79 | 0 | 11487 | 3030 |
Grand Total | 2369 | 1 | 384 | 77 | 5783 | 168465 | 59881 |
Table 3: Drilling statistics by 2023 nickel target area. | ||||||||
Nickel | Total Holes | Min Depth | MaxDepth | Average | Sum of DD | Sum of RC | Total Ni | Max |
Central | 762 | 6 | 131 | 54 | 621 | 40596 | 31946 | 8670 |
4 | 172 | 384 | 273 | 0 | 1090 | 98 | 2510 | |
Drabble- | 237 | 18 | 252 | 56 | 85 | 13022 | 5510 | 4340 |
Moonshine | 165 | 7 | 351 | 203 | 1561 | 30052 | 6956 | 4000 |
Moonshine North | 85 | 7 | 370 | 151 | 1220 | 10634 | 2924 | 14200 |
Sandalwood | 29 | 48 | 302 | 205 | 0 | 5936 | 615 | 7500 |
Snark | 147 | 13 | 288 | 66 | 286 | 9311 | 775 | 2950 |
Other | 940 | 1 | 348 | 70 | 2010 | 57824 | 11057 | 8229 |
Grand Total | 2369 | 1 | 384 | 77 | 5783 | 168465 | 59881 | 14200 |
Table 4: Drilling Assay Statistics on selected elements. | ||||||||||
118786 samples | Ni ppm | Cu pct | Pd ppb | Pt ppb | Cr pct | Co pct | MgO pct | Ag ppm | Al2O3 pct | SiO2 pct |
Count Numeric | 49237 | 58369 | 374 | 362 | 91092 | 54255 | 108828 | 1872 | 108732 | 108483 |
Count Null | 69549 | 60417 | 118412 | 118424 | 27694 | 64531 | 9958 | 116914 | 10054 | 10303 |
Unique Values | 1388 | 595 | 31 | 25 | 2281 | 511 | 1598 | 42 | 3475 | 7503 |
Minimum | 1 | 1.00E-04 | 1 | 5 | 2.00E-04 | 1.00E-04 | 0.005 | 0.05 | 0.005 | 0.72 |
Maximum | 14200 | 0.922 | 36 | 35 | 3.3516 | 3.356 | 36.3 | 77.6 | 64.49 | 98.7 |
Mean | 241.99 | 0.01 | 12.79 | 12.49 | 0.04 | 0.00 | 1.36 | 0.34 | 10.62 | 35.66 |
Median | 70 | 0.009 | 14 | 12 | 0.0096 | 0.001 | 0.14 | 0.25 | 8.81 | 37.96 |
Range | 14199 | 0.9219 | 35 | 30 | 3.3514 | 3.3559 | 36.295 | 77.55 | 64.485 | 97.98 |
140 | 0.01 | 4 | 4 | 0.024 | 0.00375 | 0.9 | 0.05 | 15.35 | 25.1 | |
Standard Deviation | 572.69 | 0.01 | 5.75 | 4.40 | 0.13 | 0.02 | 3.65 | 1.84 | 8.69 | 17.15 |
1 percentile | 8 | 5.00E-04 | 1 | 5 | 2.00E-04 | 2.50E-04 | 0.005 | 0.05 | 0.05 | 2.54 |
5 percentile | 10 | 5.00E-04 | 1 | 6 | 2.00E-04 | 2.50E-04 | 0.02 | 0.08 | 0.24 | 5.48 |
10 percentile | 20 | 0.0016 | 3 | 8 | 2.00E-04 | 2.50E-04 | 0.03 | 0.1 | 0.54 | 9.42 |
25 percentile | 30 | 0.004 | 11 | 10 | 0.0027 | 2.50E-04 | 0.06 | 0.2 | 2.42 | 23.3 |
75 percentile | 170 | 0.014 | 15 | 14 | 0.0267 | 0.004 | 0.96 | 0.25 | 17.77 | 48.4 |
90 percentile | 520 | 0.019 | 18 | 18 | 0.065 | 0.008 | 3.3 | 0.5 | 23.34 | 53.74 |
95 percentile | 1360 | 0.023 | 20 | 20 | 0.1922 | 0.01 | 6.29 | 0.7 | 25.6 | 59.7 |
99 percentile | 2550 | 0.034 | 33 | 30.37 | 0.7285 | 0.03 | 21.9 | 1.2 | 29.1734 | 75.94 |
The Macarthur drilling includes 70 diamond and partial diamond drill holes, with the distribution shown in Figure 5. The drill holes containing nickel assays are also displayed in Figure 6.
All drill collars are further listed in Appendix 2.
SOURCE
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