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- Macarthur Minerals (MIO) carries out drilling at its Moonshine pits as it closes in on completing its feasibility study for Lake Giles Iron Project
- The eight-hole program will support the phase two mine planning work, with phase one already completed, ahead of the study delivery this year
- MIO’s lead consultant Stantec is also carrying out metallurgical testwork, with sample testing underway in Perth
- The results from the tests will help complete the process flow sheet engineering design work for a metallurgical process plant design
- Macarthur shares are trading down 1.67 per cent at 59 cents each at 1:18 pm AEST
Macarthur Minerals (MIO) is carrying out drilling at its Moonshine pits, as it closes in on completing its feasibility study for Lake Giles Iron Project.
The eight-hole geotechnical drill program at Moonshine and Moonshine North will support the phase two mine planning work.
Phase one mine planning has already been completed, ahead of the study being completed for MIO’s flagship project in WA at the end of 2021.
The company’s lead consultant Stantec was also carrying out metallurgical test work, with sample testing underway in Perth.
The results from the tests will help complete the process flow sheet engineering design work for a metallurgical process plant design that will deliver high grade over 65 per cent iron magnetite concentrate.
Commenting on the work, MIO CEO Andrew Bruton said it was pleasing to see the study progress.
“Following the onset of the Global Covid-19 pandemic early last year and throughout the balance of 2020, the company has been steadily progressing the foundational work required to underpin the delivery of the study,” Mr Bruton said.
“The feasibility study is on track for delivery this year, and with the combined technical capabilities and experience of Stantec’s team lead by Neville Dowson and Macarthur’s highly experienced metallurgical consultant Dr Richard Peck and mining engineer Bernard Holtshousen, the company has high expectations, and an equally high level of confidence, that the study will meet the expectations of the market.”
Macarthur Minerals shares were trading down 1.67 per cent at 59 cents per share at 1:18 pm AEST.
