- Macarthur Minerals (MIO) receives a five-year extension to its exploration licence at its Strelley Gorge iron project in the Pilbara region of Western Australia
- MIO President and Executive Chairman Cameron McCall says the extension is a “great boost” for the company
- The company owns mineral rights on two tenements in the Pilbara: Strelly Gorge and Tambourah North
- The new exploration licence expiry date is now November 20, 2027
- MIO shares are up 3.6 per cent and trading at 14.5 cents at 12:19 pm AEDT
Macarthur Minerals (MIO) has been granted a five-year extension to its existing exploration licence at its Strelley Gorge iron project in the Pilbara region of Western Australia.
The extension brings forward the licence’s expiry date to November 20, 2027.
The 11.2-kilometre exploration licence is situated east of Atlas Iron’s Abydos iron ore mine and south of its planned Sandtrax operation, which is a part of the Miralga Creek iron ore mine.
Macarthur Minerals President and Executive Chairman Cameron McCall said the extension was a “great boost” for the company.
“It’s located between some very interesting projects owned by Atlas and BHP,” Mr McCall said.
He added that the company’s primary focus remained on its Lake Giles project, also in WA.
“The company continues to expand its diversified project portfolio with the Pilbara iron
ore, Lake Giles nickel and Nevada lithium areas providing the company with exposure to multiple commodities and markets.”
The company owns mineral rights on two tenements in the Pilbara, Strelly Gorge and Tambourah North.
At Strelly Gorge, minimal reconnaissance exploration in the past focused on the banded iron formation (BIF) along-strike of the Abydos iron ore mine.
Two samples were collected by Fe Limited (FEL) in 2019, taken from iron-rich outcropping banded iron ore formation, and returned “significant” grades of 61.3 per cent and 58.1 per cent iron.
MIO shares were up 3.6 per cent and trading at 14.5 cents at 12:19 pm AEDT.