Apr 30 2020
Macarthur Minerals Limited has provided an update on scheduled exploration activities at its Hillside gold and copper project by its joint venture Partner, Fe Limited (FEL).
Macarthur Minerals Lithium and Gold Tenements Retained by FE Limited by agreement. Image Credit: Macarthur Minerals.
Highlights of the Project
- Down dip expansion of mineralized gossan intercepted in two holes
- Anomalous outcomes include:
- HRC 001: 1 m @ Cu of 0.19%, Co of 230 ppm, Zn of 0.14%, Au of 0.07 ppm from 28 m
- HRC 022: 1 m @ Cu of 0.74%, Co of 349 ppm, Zn of 0.41%, Au of 0.14 ppm from 83 m
- HRC 036: 1 m @ Cu of 0.18%, Zn of 0.12% from 25 m, 1 m @ Cu of 0.27% from 40 m
Encouraging results were obtained from the first phase drilling program reported by FEL in ASX announcement dated February 10th, 2020, where three holes were positively determined to have intercepted down-dip extensions of a surface gossan.
These three holes exhibited anomalous intercepts covering the entire length of the 14 km strike. As a measure of cost reduction, approximately half of the drilled samples were assayed in the laboratory, which returned a logged record of sulfides or visible quartz in the samples.
Currently, the remaining samples are being examined in the office with the help of a portable XRF if any anomalous samples were missing by chance. In case any samples are identified, they will be shipped to the laboratory for a formal assay.
As soon as the results are obtained (pXRF and lab), the data interpretation using geochemistry will be performed to distinguish between various flows of basalt as a technique to target possible sedimentary horizons that were deposited at the time of volcanic hiatus.
However, to date, it is not evident whether downhole and outcropping mineralization was caused due to a hydrothermal shear hosted depositional model or a volcano-stratigraphic massive sulfide deposit.
A field trip in Q2 has been planned by FEL to carry out similar pXRF testing in the field prior to further drilling or likely close-spaced ground geophysics and follow-up exploration of potential manganese outcrops in an adjacent tenement.
Fe Limited has been fortunate to receive iron ore royalties from the Deception iron ore deposit currently being mined by Mineral Resources Limited. Proceeds of these funds are fuelling the exploration activities of Macarthur’s Pilbara tenements encompassing the Hillside, Panorama and Strelley projects.
Cameron McCall, President and Executive Chairman, Macarthur Minerals
McCall continued, “The first round of scout drilling at Hillside was very encouraging and Macarthur expects the next stage of fieldwork will focus on a structural understanding of the anomalous surface expressions of copper and gold.”
Source: https://macarthurminerals.com/