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VANCOUVER, British Columbia, Might 26, 2021 (GLOBE NEWSWIRE) — Macarthur Minerals Restricted
(TSX-V: MMS) (ASX: MIO) (OTCQB: MMSDF) (the “Firm” or “Macarthur”) is happy to announce that it’s advancing mine planning work to help meant hematite mining operations at Lake Giles in Western Australia.
The Firm has commenced work to arrange a mine plan for a direct cargo ore (DSO) product underneath a mining marketing campaign which can initially goal the Snark and Drabble Downs deposits of the Lake Giles Ularring Hematite Mission.
In 2012 the Firm accomplished a Pre-Feasibility Examine (PFS) of the Ularring Hematite Mission (“Mission”) that included beneficiation of low-grade iron mineralisation1. Given the present power of the worldwide iron ore market, the Firm considers there’s scope for growth of a easy DSO operation with cell crushing and screening tools. The Firm’s mine planning work shall be premised on this foundation, concentrating on a low capital, fast growth state of affairs.
This low-cost strategy doesn’t diminish the potential for a beneficiated sinter fines product as envisaged within the authentic 2012 PFS.
The Snark and Drabble Downs deposits are situated in shut proximity to the Evanston-Menzies highway that’s at the moment getting used for ore haulage by native gold mining operators. This highway supplies direct entry to sealed highways to each Geraldton and Esperance ports in addition to open entry rail networks.
The Firm has engaged with highway haulage contractors and has recognized rail and export choices utilising current regional infrastructure. Moreover, the Firm has made purposes for miscellaneous licences to help the event of a mining camp and mining providers infrastructure and is in discussions with neighbouring tenement holders for entry to water bores.
Highlights
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1 NI 43-101 Technical Report filed October 1, 2012, titled “NI 43-101 Technical Report, Macarthur Minerals Restricted, Pre-Feasibility Examine, Ularring Hematite Mission, Western Australia.”
The detailed mine planning work focuses on the hematite deposits situated on the Snark and Drabble Downs prospects the place direct cargo ore (DSO) product has been outlined (See determine 1 under).
The work to be undertaken will help regulatory approval of a Mining Proposal and tendering of contract mining providers, and can embrace:
- mission optimization;
- mine design and format;
- mine scheduling of DSO;
- mining value estimation; and
- implementation planning.
A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/348a306a-e70f-4acb-be67-27f045f902cc
The mine planning and related geotechnical evaluation work is anticipated to be accomplished by the top of June, and Macarthur intends to lodge a mining proposal with the Division of Mines, Trade Regulation and Security (DMIRS) throughout Q3 this 12 months.
The Firm has recognized choices for an export pathway to help deliberate DSO mining operations and is aiming to finish preparations for its most well-liked product transport and export answer shortly.
Following approval of the mine plan by DMIRS and topic to securing remaining mission growth approvals and shutting mission financing, the Firm intends to focus on graduation of DSO manufacturing at Ularring on the earliest out there alternative.
Andrew Bruton, Chief Govt Officer of Macarthur Minerals commented:
“Iron ore is experiencing one of many largest value surges in many years, and our shareholders have been eagerly anticipating the Firm’s development of early hematite mining operations at Ularring.
The present market has introduced each alternatives and challenges over the past a number of months because the Firm navigates a rise in aggressive demand for transport infrastructure and port entry.
Macarthur’s Administration workforce has risen to the problem and has labored to advance an answer which goals to benefit from the present power in iron ore costs by advancing early mining operations.
Early mining operations can even help the Firm’s intention of commencing excessive grade magnetite mining operations at its Moonshine and Moonshine North deposits following the completion of the present Feasibility Examine course of.
We’re happy to lastly present the market with the main points of the following step in the direction of this a lot anticipated company milestone being accomplished, and I stay up for retaining buyers knowledgeable of the thrilling developments alongside the pathway in the direction of attaining our first cargo of iron ore. Additional bulletins on progress will observe within the coming weeks.”
On behalf of the Board of Administrators, Mr Cameron McCall, Chairman
Firm profile
Macarthur is an iron ore growth, gold and lithium exploration firm that’s centered on bringing to manufacturing its Western Australia iron ore tasks. The Lake Giles Iron Mission mineral assets embrace the Ularring hematite useful resource (permitted for growth) comprising Indicated assets of 54.5 million tonnes at 47.2% Fe and Inferred assets of 26 million tonnes at 45.4% Fe; and the Lake Giles magnetite useful resource of 53.9 million tonnes (Measured), 218.7 million tonnes (Indicated) and 997 million tonnes (Inferred). Macarthur has distinguished (~721 sq. kilometer tenement space) gold, lithium and copper exploration pursuits in Pilbara area of Western Australia. As well as, Macarthur has lithium brine Claims within the rising Railroad Valley area in Nevada, USA.
This information launch shouldn’t be for distribution to United States providers or for dissemination in america
Warning Relating to Ahead Wanting Statements
Sure of the statements made and data contained on this press launch might represent forward-looking data and forward-looking statements (collectively, “forward-looking statements”) throughout the that means of relevant securities legal guidelines. All statements herein, aside from statements of historic reality, that deal with actions, occasions or developments that the Firm believes, expects or anticipates will or might happen sooner or later, together with however not restricted to statements concerning anticipated completion of the Feasibility Examine; conversion of Mineral Assets to Mineral Reserves or the eventual mining of the Mission, are forward-looking statements. The forward-looking statements on this press launch mirror the present expectations, assumptions or beliefs of the Firm primarily based upon data at the moment out there to the Firm. Though the Firm believes the expectations expressed in such forward-looking statements are primarily based on affordable assumptions, such statements should not ensures of future efficiency and no assurance will be on condition that these expectations will show to be right as precise outcomes or developments might differ materially from these projected within the forward-looking statements. Components that would trigger precise outcomes to vary materially from these in forward-looking statements embrace however should not restricted to: unexpected expertise modifications that ends in a discount in iron or magnetite demand or substitution by different metals or supplies; the invention of recent giant low value deposits of iron magnetite; the final stage of worldwide financial exercise; failure to finish the FS; incapability to show financial viability of Mineral Assets; and failure to acquire mining approvals. Readers are cautioned to not place undue reliance on forward-looking statements because of the inherent uncertainty thereof. Such statements relate to future occasions and expectations and, as such, contain recognized and unknown dangers and uncertainties. The forward-looking statements contained on this press launch are made as of the date of this press launch and besides as might in any other case be required pursuant to relevant legal guidelines, the Firm doesn’t assume any obligation to replace or revise these forward-looking statements, whether or not because of new data, future occasions or in any other case.
