Mining minerals

Macarthur Minerals: Rock chip sampling from Infinity Mining at Craigs Rest confirms high-grade gold

VANCOUVER, BC, September 21, 2022 /CNW/ – Macarthur Minerals Limited (TSXV: MMS) (ASX: MIO) (OTCQB: MMSDF) (the Company Where macarthur), is pleased to note that Infinity Mining Limited (ASX: IMI) has announced that recent rock chip samples from Craigs Rest returned six anomalous assays at 1 g/t Au with a maximum of 37.64 g/t At. The Craig’s Rest project is located 60 km northwest of Leonora.

Macarthur Minerals Holding at infinity

Macarthur owns 21.65% of the issued shares and is the largest shareholder of Infinity, an Australian mining exploration company focused primarily on renewable rare earth minerals in Western Australia.

Macarthur’s spin-off of Infinity Mining from its non-core renewable energy assets in 2021 has allowed the company to focus fully on its flagship Lake Giles Iron Project by Western Australia.

The full version can be found here.

On behalf of the board of directors, Mr. Cameron McCallExecutive Chairman and Chief Executive Officer

Company Profile

Macarthur is an iron ore development and lithium exploration company focused on bringing its Western Australia iron ore projects. Mineral Resources for the Giles Lake Iron Project 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 Giles Lake 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 184.7 Mt. Macarthur also owns 24 square kilometer iron exploration interests in the Pilbara area Western Australia. Additionally, Macarthur has lithium brine claims in the emerging Railroad Valley region in Nevada, United States.

No new information

The Mineral Resource and Ore Reserve estimates presented above were previously disclosed to the ASX on March 21, 2022, including supporting JORC reporting tables. Unless explicitly stated, no new information is contained in accordance with the checklist in Table 1 of the JORC Code. The Company confirms that it is not aware of any new information or data materially affecting the information included in relevant market announcements and, in the case of mineral resources and ore reserves, that all assumptions and all technical parameters underlying the estimates in the relevant market announcement continue to apply and have not materially changed.

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 the expected completion of the feasibility study; the conversion of mineral resources into ore reserves or the eventual operation of the project, are forward-looking statements. The forward-looking statements contained in this press release reflect the Company’s current expectations, assumptions or beliefs based on information currently available to the Company. Although the Company believes that 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 such 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 the forward-looking statements include, but are not limited to: unforeseen changes in technology that result in reduced demand for iron or magnetite or substitution by other metals or materials; the discovery of significant new deposits of low-cost iron magnetite; the general level of global economic activity; non-completion of MSDS; failure to demonstrate the economic viability of mineral resources; and the inability to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty inherent therein. These 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 under applicable law, the Company undertakes no obligation to update or revise these statements. forward-looking, whether as a result of new information, future events or otherwise.