RE: Ref Lithium4 Nov 2019 14:09
Mms news release
NEWS RELEASE Symbols: TSX-V: MMS, OTCQB: MMSDF
November 4, 2019 For Immediate Dissemination
DRILLING PROGRAM COMMENCED AT HILLSIDE PROJECT IN THE PILBARA TARGETING COPPER, GOLD AND MANGANESE
Macarthur Minerals Limited (TSX-V: MMS) (OTCQB: MMSDF) (the “Company” or “Macarthur”) is pleased to announce that its Joint Venture Partner, Fe Limited (“FEL”), has commenced a Reverse Circulation (RC) drilling campaign at the Hillside Project in the Pilbara Region of Western Australia where high-grade copper and manganese results were returned in recent sampling, as reported by Macarthur on October 9, 2019.
FE Limited Drilling Program Highlights:
? Road access and site earthworks at the Hillside Project have been completed
? Programme of Works approvals have been received from the Western Australian Department of
Mines, Industry, Resources and Safety (DMIRS)
? Heritage clearance obtained from the Native Title Claimants
? Mobile Camp and RC drill rig has been mobilised to site
? Drilling planned to commence today
Drilling has been planned to test potential supergene and hypogene mineralisation above and below the water table along the majority of the 14-kilometre Gossan line (Figure 1). This program will also test outcropping quartz vein mineralisation identified through prospecting activities.
Additional follow-up exploration will also be conducted in the vicinity of the high-grade manganese outcrop identified during recent field work.
Earn-in with Macarthur
Macarthur Lithium Pty Ltd (“MLi”), a wholly owned subsidiary of Macarthur entered into an exclusive option agreement (“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 18 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.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS, OTCQB: MMSDF)
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 includes the 80 million tonne Ularring hematite resource (approved for development) and the 710 million tonne Moonshine magnetite resource. Macarthur has prominent (~1,281 square kilometer tenement area) gold, lithium and nickel explo
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