LAKE GILES FEASIBILITY STUDY UPDATE: Lake Giles Feasibility Study Advancing under Steady Hand of Global Consultancy Stantec
July 20 2021 - 8:00AM
Macarthur Minerals Limited (ASX: MIO)
(TSX-V: MMS) (OTCQB: MMSDF) (the
Company
or
Macarthur) is pleased to provide an update on
the progress of the current Feasibility Study for the Company’s
flagship Lake Giles Iron Project.
The Company’s lead consultant, Engenium now
Stantec (Stantec), are advancing metallurgical process test work,
process flow sheet development and key non-process infrastructure
engineering design work for the Feasibility Study that is presently
being undertaken on the Company’s flagship high grade magnetite
Lake Giles Iron Project in Western Australia.
Stantec’s highly experienced metallurgical
process consultant Mr Neville Dowson leads the metallurgical test
work and development of the process flow sheet and engineering
works for a metallurgical process plant design that will target
delivery of a high grade +65% Fe magnetite concentrate. Under
Stantec’s guidance, metallurgical sample testing is underway in
Perth utilising the expertise of Bureau Veritas (a world leader in
inspection, resting and certification). The results of this test
work will provide Stantec with the crucial outputs to complete the
metallurgical process flow sheet engineering design work.
Highlights of Feasibility Study Progress to
DateThe necessary work to advance the Feasibility Study
has been extensive, and to date includes the following:
- Below
Rail Paths Secured (15 July 2020): Below rail Proposal
incorporating Indicative Track Access Pricing (ITAP) received from
Arc Infrastructure, confirming availability of sufficient below
rail network paths to support commercial magnetite mining
operations (see announcement: here). The next step is to confirm
pricing and enter into a binding Commercial Track Access Agreement
following completion of the current Feasibility Study.
-
Resource Upgrade Completed (12 August 2020):
Completion of a Measured Resource Statement to JORC and NI43-101
standards (see announcement: here), which has identified sufficient
resources in the appropriate categories to support mine planning
under the Feasibility Study.
- Bulk
Rail Unloading Solution Advanced at Esperance Port (2 September
2020): RCR Mining Technologies Pty Ltd (RCR MT) engaged to
provide a conceptual engineering and design solution for bulk rail
unloading at Esperance Port, and corresponding site visit
undertaken (see announcement: here).
-
Technical Report Lodged for Resource Upgrade (1 October
2020): Technical Report lodged confirming Measured
Resource of 53.9Mt and Indicated Resources of 218.7Mt and an
Inferred Mineral Resource of 997Mt for magnetite (see announcement:
here), providing sufficient resources in the appropriate categories
to support the current Feasibility Study.
- Engineering Design Report
Completed for Bulk Rail Unloading Solution (7 October
2020): RCR MT completes engineering design report to
support potential development of a bulk rail unloading solution at
Esperance Port (see announcement: here).
- Port Access on Track (8
February 2021): Memorandum of Understanding signed with
Southern Ports Authority (SPA) which provides a pathway for the
development of rail unloading infrastructure and associated
infrastructure within the Port (see announcement: here).
Relevantly, Southern Ports Authority (SPA) is presently finalising
a Master Plan for its preferred development option at Esperance
Port. Macarthur has been actively involved in the consultation
rounds for that process and will be fully supportive of a solution
for a bulk rail unloading solution that can deliver increased
capacity under open access principles within a timeframe that
aligns with Macarthur’s target date for commencement of commercial
mining operations at Lake Giles.
- Leading Study Consultants
Appointed to Accelerate Feasibility Study Delivery (16 February
2021): The Company appointed leading consultants
Optimize Group, Projectus
Infrastructure and FTI Consulting to
enhance the delivery of the Feasibility Study through the provision
of study management oversight, transport infrastructure analysis
and modelling and financial modelling services, respectively (see
announcement: here).
- Completion of AEM
Groundwater Survey of Paleovalleys to Identify Groundwater Targets
(16 March 2021): CGG Aviation engaged to undertake a
Tempest airborne electromagnetic survey (AEM) of the paleovalleys
adjacent to the Lake Giles Iron Project to assist identification of
groundwater drilling targets (see announcement: here).
- Phase 1 Mine Planning (15
April 2021): Phase 1 mine planning work has been completed
by Orelogy Mining Consultants (Orelogy) and Pells Sullivan Meyninck
(PSM) (see announcement: here).
- Geotechnical Drilling
Underway (6 July 2021): An 8 hole geotechnical drill
programme is set to commence at Moonshine and Moonshine North
during July to support finalization of Phase 2 mine planning work
being undertaken by Orelogy (see announcement: here).
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A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/88d84832-4480-4337-8759-3578334b537e
Stantec is a highly regarded global consultancy
with extensive experience in the mining sector. Stantec’s presence
in Australia and Canada provides the perfect platform to deliver
Macarthur’s Feasibility Study to required standards for the
Australian and Canadian markets. The Stantec team have considerable
experience in the design of magnetite processing plants. Dr Richard
Peck, Macarthur’s magnetite processing subject matter expert is
providing oversight on Stantec’s process design, metallurgical test
work programme and preparation of the process design criteria, flow
diagram and mass balance.
Jose Granado, Stantec Country Leader for
Australia commented:
“We are proud to leverage our global expertise
and passion for applying sustainable best practice to help advance
the Lake Giles Iron Project. By continuing our partnership with
Macarthur Minerals, we are ready to deliver a feasibility study
that paves the way forward for this important project.”
Andrew Bruton, CEO of Macarthur Minerals
commented:
“Following the onset of the Global Covid-19
pandemic early last year and throughout the balance of 2020, the
Company has been steadily progressing the foundational work
required to underpin the delivery of the study. Much of that work
has focused on necessary background work to advance route to market
concepts and delivery mechanisms. Although much of that work has
not been visible to the market, it is essential.
The Feasibility Study is on track for delivery
this year, and with the combined technical capabilities and
experience of Stantec’s team lead by Neville Dowson and Macarthur’s
highly experienced metallurgical consultant Dr Richard Peck and
mining engineer Bernard Holtshousen, the Company has high
expectations, and an equally high level of confidence, that the
Feasibility Study will meet the expectations of the market.
Stantec’s involvement in key areas will help
bring the Feasibility Study in on time and within budget. We look
forward to continuing to work with them through these final phases
of delivery.”
On behalf of the Board of Directors, Mr Cameron McCall,
Chairman
For more information please contact: |
|
|
Joe Phillips |
|
Managing Director |
|
+61 7 3221 1796 |
|
communications@macarthurminerals.com |
|
|
|
Investor Relations – Australia |
Investor Relations - Canada |
Advisir |
Investor Cubed |
Sarah Lenard, Partner |
Neil Simon, CEO |
sarah.lenard@advisir.com.au |
+1 647 258 3310 |
|
info@investor3.ca |
Company profileMacarthur 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 Lake Giles
magnetite resource of 53.9 million tonnes (Measured), 218.7 million
tonnes (Indicated) and 997 million tonnes (Inferred). The JORC
reporting tables and Competent Person statement for the magnetite
and hematite mineral resources have previously been disclosed in
ASX market announcements dated 12 August 2020 and 5 December 2019.
Macarthur has prominent (~721 square kilometre 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.
About StantecCommunities are
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provide a foundation, a sense of place and of belonging. That's why
at Stantec, we always design with community in
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We're designers, engineers, scientists, and
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For more information about Stantec’s recent
acquisition of Engenium, see here.
This news release is not for
distribution to United States services or for dissemination in the
United States
Caution Regarding Forward Looking
StatementsCertain 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 Mineral 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.
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