Macro Metals Limited (ASX: M4M) has provided an update on the exploration and development activities underway at the Goldsworthy East Project.
On 14 and 15 July 2024, the company’s field team opportunistically completed a campaign of mapping and sampling at Goldsworthy East while they were on site demarking the area to be covered by the heritage survey that completed today.
Simon Rushton, managing director, commented, “This is an unexpected but very welcomed development from the team being on ground over the weekend to prepare for the safe completion of the heritage survey. Looking at the sheer size of the gravity targets beneath the surface at Goldsworthy East in the context of now having discovered visually very impressive hematite mineralization above the southern target, it is very hard not to get excited.”
The team identified a sample of scree material located within the area of the interpreted southern gravity anomaly. The scree sample appears visually to be comprised entirely of hematite mineralization and has patches of specular hematite making it appear visually very similar to that of which was mined from the Goldsworthy Open Pit, which is located approximately 1,800m along strike to the west of Macro’s southern gravity target on Goldsworthy East.
Macro has cautioned that with respect to any visual mineralization indicators, visual observations and estimates of mineral abundance are uncertain in nature and should not be taken as a substitute or proxy for appropriate laboratory analysis.
The company will continue to work collaboratively with DEMIRS to expedite the grant of the exploration licence application given BHP has withdrawn its objection and has negotiated and executed agreements with both traditional owners of the country on which Goldsworthy East is located, being Ngarla and Nyamal, so that it can undertake the maiden drilling campaign as soon as possible.
In addition, A 25m line spaced magnetic survey has been completed across the entire Goldsworthy East Project. Upon receipt of the survey data the company will commence processing and interpretation of the magnetics. The aim of the survey is to refine the structural and lithological model. Refinements of the proposed drilling programme will be conducted once the model has been updated.
To find out more, please visit www.macrometals.com.au
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