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Macarthur Minerals Commences Geophysical Surveys Targeting Nickel & Cobalt at Its Lake Giles Project07.06.2018 | 14:00 Uhr | GlobeNewswire
VANCOUVER, British Columbia, June 07, 2018 (GLOBE NEWSWIRE) -- Macarthur Minerals Ltd. (TSX-V:MMS) (the “Company” or “Macarthur”) is pleased to announce that it has commenced its exploration program targeting nickel and cobalt at its Lake Giles Project in the Goldfields region of Western Australia.
Mr Cameron McCall, Executive Chairman of Macarthur commented: “Macarthur has ramped up its exploration activities and the survey will be a first for this region to test the Komatiite structures in the Lake Giles area at depth. We believe that there is certainly something that has created the widespread nickel and cobalt anomalies across this extensive tenement package and we are excited about the prospect of what could emerge.” Geophysical Survey As reported on March 5, 2018, the Company has identified two areas prospective for sulphide hosted base metal deposits based on historical drill results at the Snark and Moonshine prospects, located on the Company’s Lake Giles Project. The majority of historical drilling at Snark and Moonshine has been shallow (<60m) and regionally, Kambalda style nickel mineralisation has only been found at depth. The interpretation of historical aeromagnetic data suggests possible presence of lava channels and Komatiite flows which are favourable for nickel-sulphide deposits. To gain a greater understanding at depth, the Company is completing ground based EM surveys at both prospects. A moving loop EM survey has commenced over these two zones prospective for nickel mineralisation. The ground EM survey will be conducted at 200m spacing covering an area of 3.5 km2 at Snark and 1 km2 at Moonshine (Figures 1 & 2). Lake Giles Nickel and Cobalt Potential Snark Prospect Mapping conducted over the area in 2002 by Keith Fox for Internickel Australia Pty Ltd identified three historical target areas:
Macarthur has drilled several reverse circulation (“RC”) holes in the vicinity of the targets described above and intersected anomalous nickel in holes LGRC0010 and LGRC0015 (Figure 1). Intercepts of interest include: LDRC_0010 (288m): 128 meters @ 0.17% Ni (from 108m to 236m) including 1m @ 0.29% Ni In addition, Macarthur previously reported surface rock samples from the Snark prospect containing the mineral asbolite containing up to 2.6% cobalt and 2.0% nickel. These samples are within the area of the EM survey. Moonshine Prospect QUALIFIED PERSONS ABOUT MACARTHUR MINERALS LIMITED (TSX-V:MMS) On behalf of the Board of Directors, MACARTHUR MINERALS LIMITED “Cameron McCall” Company Contact: THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 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. 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. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the timely receipt of required approvals, the reliability of information, including historical mineral resource or mineral reserve estimates, prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. 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 fluctuations in exchange rates and certain commodity prices, uncertainties related to mineral title in the project, unforeseen technology changes that results in a reduction in iron ore demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron ore, uncertainty in successfully returning the project into full operation, and the general level of global economic activity. 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. Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e49152f2-ffd5-486e-bff1-510e526e414e http://www.globenewswire.com/NewsRoom/AttachmentNg/9b8c854a-4dec-44ca-b1ba-72a61257582c Dieser Artikel stammt von Rohstoff-Welt.de
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