/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
UNITED STATES SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Sept. 15,
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 a review of their
initial assay results of a recent field rock chip sampling program
over the western side of the South Tambourah tenement in
Western Australia. Infinity Mining
has defined exploration targets for Rubidium (Rb) mineralisation
with up to 6,489 ppm Rb (0.724% Rb20) within exposed weathered
pegmatites.
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.
This news release is not for
distribution to united states services or for dissemination in
the United States
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