Macarthur Minerals (ASX:MIO) applies for additional Lake Giles tenure

• Macarthur Minerals (MIO) applies for tenure over an area adjacent to its Lake Giles Iron Project in WA’s Great Southern region
• MIO says the miscellaneous licence will give it access to another 74 hectares of land which lies adjacent to the company’s Snark deposit
• The materials stock will use the extra land to support its non-process infrastructure for the direct-shipping iron ore (DSO) campaign
• This includes placing vehicle workshops, water storage, site offices, fuel supply, product stockpiling and loadout facilities on the tenure
• MIO shares closed Tuesday up 9.76 per cent at 45 cents each

Macarthur Minerals (MIO) has applied for tenure over an area adjacent to its Lake Giles Iron Project.

The flagship project lies in WA’s Great Southern region and includes the Ularring Hematite and Lake Gilkes magnetite resources.

MIO said on Tuesday the additional 74 hectares of land lies adjacent to the company’s Snark deposit, which was located in Ularring.

The company plans to use the additional land to help support the non-process infrastructure needed for the initial direct-shipping iron ore (DSO) campaign which involves both the Snark and Drabble Down deposits being mined.

MIO said the infrastructure needed would include setting up a mining operations centre which in turn can host vehicle workshops, water storage, site offices, and fuel supply, product stockpiling and loadout facilities.

Commenting on the new tenure application, MIO CEO Andrew Bruton said it was a key component to advancing the DSO campaign.

“Macarthur continues to advance mine and transport planning for a DSO mining operation at Ularring,” Mr Bruton said.

“This tenure application is another important step towards that objective. The earliest commencement of revenue generating activities remains one of the company’s key priorities.

“With a clear view of the transport logistics challenges that are always evident in a heated commodity market, management has been taking time over the last several months to ensure that this objective can be optimised in its delivery, to enable the company to take advantage of current iron ore prices.”

Macarthur Minerals’ shares closed Tuesday up 9.76 per cent at 45 cents each.