/This news release is not for distribution to united states
services or for dissemination in the
United States/
VANCOUVER, BC, Sept. 26, 2022 /CNW/ - Macarthur Minerals
Limited (TSXV: MMS) (ASX: MIO) (OTCQB: MMSDF) (the
Company or Macarthur), is pleased to note that
Infinity Mining Limited (ASX: IMI) has announced that further rock
chip sampling has identified four new Lithium pegmatite zones at
Tambourah South, all of which display anomalous Li, Be, Cs, Nb, Rb
and Ta geochemistry, indicative of highly fractionated rare-element
pegmatites. Tambourah South is located in the Pilbara region of
Western Australia.
Macarthur Minerals Holding in Infinity
Macarthur holds 21.65% of the issued equity and is the largest
shareholder in Infinity, which is an Australian mining exploration
company focused primarily on renewable rare earth minerals in
Western Australia.
Macarthur's spinoff to Infinity Mining, of its non-core
renewable energy assets in 2021 has allowed the Company to commit
its full focus to its flagship Lake Giles Iron Project in
Western Australia.
The full release can be found here.
On behalf of the Board of Directors, Mr Cameron McCall, Executive Chairman and
CEO
Company profile
Macarthur is an iron ore development,
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 Lake Giles Iron Project also contains Proven Ore Reserves of
51.9 Mt and Probable Ore Reserves of 184.7Mt. Macarthur also holds
24 square kilometre tenement area iron exploration interests in the
Pilbara region of Western
Australia. In addition, Macarthur has lithium brine Claims
in the emerging Railroad Valley region in Nevada, USA.
No new information
The Mineral Resource and Ore
Reserve estimates presented above have previously been released to
the ASX on 21 March 2022, including
supporting JORC reporting tables. Unless explicitly stated, no new
information is contained in accordance with Table 1 checklist in
the JORC Code. The Company confirms that it is not aware of
any new information or data that materially affects the information
included in the relevant market announcements and, in the case of
Mineral Resources and Ore Reserves that all assumptions and
technical parameters underpinning the estimates in the relevant
market announcement continue to apply and have not materially
changed.
Caution Regarding Forward Looking Statements
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.
SOURCE Macarthur Minerals Limited