Macarthur Minerals Limited
TSX VENTURE : MMS

Macarthur Minerals Limited

September 22, 2010 11:30 ET

Macarthur Minerals Limited: Hematite-Geothite DSO Grade Mineralisation Intersected-28m at 61.3%Fe

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2010) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Macarthur Minerals Limited (TSX VENTURE:MMS) ("the Company") is pleased to advise that further RC drilling has returned further direct shipping ore (DSO) grade mineralisation at the Central and Snark prospects with 28m at 61.3% Fe being recorded at its Lake Giles project, located in Western Australia. Key highlights:

  • Hematite-goethite (DSO grade) iron mineralisation recorded includes:

                   28m @ 61.3%Fe from 10m
                   9m @ 59.7%Fe from 57m
                   9m @ 57.4%Fe from 22m
                   22m @ 59.1%Fe from 9m
                   8m @ 58.6%Fe from 35m


  • Resource estimation commenced on the 6 identified areas.

The drilling was carried out over the outcropping hematite zones the Company has mapped and sampled earlier in the year. A full listing of results is detailed in Table 1 (down-hole lengths reported - true widths will be determined) and the results received complement the results released previously over the last 2 months where better intersections reported include:

                         24m @ 62.5%Fe from 6m depth
                         14m @ 58.0%Fe from 5m depth
                         11m @ 58.2%Fe from 38m depth
                         21m @ 57.4%Fe from 5m depth
                         9m @ 61.6%Fe from 16m depth
                         28m @ 57.9%Fe from 13m depth
                         16m @ 57.4%Fe from 36m depth
                         8m @ 61.1%Fe from 44m depth

Since drilling commenced on February 18, a total of 184 holes have been drilled for a total advance of 13,053 metres for Hematite-goethite. Mineralisation is now confirmed at 6 areas, namely the Snark, Lost World, Banjo, Moonshine, Central North and Central projects. To date the combined total of holes the Company has reported with significant results is 88 holes. These holes will form the basis for mineral resource estimations which are planned to commence shortly and are expected to be completed later this year.

Table 1 – RC Intersections

Hole ID Prospect From To Length Fe% SiO2% Al2O3% P% S% LOI%
LGRC_308 Central 10 38 28 61.3 3.6 1.9 0.07 0.16 6.5
and Central 45 55 10 55.4 12.7 2.0 0.07 0.02 5.6
including Central 45 47 2 60.8 5.1 2.1 0.03 0.01 5.7
including Central 52 54 2 58.1 11.9 0.8 0.07 0.04 3.9
LGRC_309 Snark 1 9 8 53.3 13.3 3.3 0.05 0.06 7.0
LGRC_314 Central 9 11 2 54.3 4.6 6.2 0.07 0.93 10.3
and Central 42 49 7 57.2 8.7 2.9 0.06 0.02 6.2
including Central 45 49 4 59.3 7.9 1.5 0.05 0.02 5.4
and Central 53 56 3 53.5 13.4 2.7 0.06 0.04 6.8
LGRC_315 Central 25 27 2 54.8 12.0 1.9 0.06 0.14 7.1
and Central 31 34 3 56.3 8.1 2.1 0.07 0.16 8.9
LGRC_388 Central 28 36 8 54.6 11.5 4.4 0.04 0.02 5.6
LGRC_389 Central 22 31 9 57.4 6.8 4.4 0.08 0.07 6.1
including Central 25 30 5 60.0 4.8 3.3 0.07 0.06 5.5
LGRC_391 Banjo 7 12 5 54.6 8.1 3.5 0.02 0.06 9.8
and Banjo 17 25 8 53.9 10.4 4.1 0.04 0.04 8.1
and Banjo 45 52 7 56.8 9.7 3.8 0.05 0.01 5.1
including Banjo 48 52 4 58.6 8.5 2.9 0.06 0.01 4.6
LGRC_392 Lost World 16 18 2 51.0 9.8 8.0 0.05 0.05 8.6
and Lost World 30 33 3 52.9 15.3 3.1 0.03 0.03 5.6
LGRC_395 Banjo 11 13 2 53.2 9.2 5.9 0.05 0.10 8.1
and Banjo 16 19 3 55.3 6.8 4.8 0.07 0.08 8.6
LGRC_397 Central 13 15 2 52.6 14.1 1.6 0.02 0.03 8.4
LGRC_400 Snark 13 21 8 54.7 7.6 5.9 0.05 0.18 7.6
LGRC_401 Snark 16 18 2 51.0 13.2 6.8 0.03 0.07 6.3
and Snark 19 25 6 53.4 10.9 4.3 0.05 0.15 7.6
LGRC_402 Snark 2 4 2 54.4 5.8 5.1 0.11 0.52 10.3
and Snark 17 31 14 55.2 5.6 4.7 0.09 0.26 10.0
including Snark 24 26 2 60.0 2.5 2.2 0.09 0.19 8.8
including Snark 29 31 2 60.4 3.2 1.2 0.15 0.04 8.5
LGRC_403 Snark 5 10 5 58.4 3.0 2.7 0.06 0.28 9.7
and Snark 15 20 5 54.7 5.9 6.0 0.06 0.40 9.0
LGRC_404 Snark 2 4 2 53.6 8.6 5.9 0.03 0.52 7.9
and Snark 6 14 8 58.1 3.4 3.4 0.05 0.30 9.4
and Snark 57 66 9 59.7 4.0 2.9 0.05 0.05 7.0
LGRC_405 Snark 5 16 11 55.3 4.4 6.1 0.08 0.37 9.4
including Snark 14 16 2 58.8 1.6 4.5 0.11 0.31 9.0
and Snark 35 43 8 58.6 3.3 3.7 0.06 0.16 8.5
and Snark 52 54 2 51.5 13.8 3.3 0.05 0.07 8.5
LGRC_406 Snark 9 31 22 59.1 6.8 2.3 0.07 0.05 5.8
and Snark 34 36 2 52.7 19.8 0.8 0.11 0.01 3.6
and Snark 46 48 2 56.6 8.7 2.9 0.11 0.02 6.4
LGRC_407 Snark 34 37 3 51.0 15.1 3.8 0.06 0.04 7.4
LGRC_408 Snark 8 11 3 50.9 14.6 4.3 0.05 0.15 7.6
and Snark 37 43 6 53.7 17.6 0.8 0.07 0.01 4.1

Notes for Table 1:

  • All analysis by X-Ray Fluorescence Spectrometry (XRF) at SGS and Amdel Laboratory in Perth, Western Australia.
  • RC Samples collected over 1 metre intervals using a industry standard 3 tier riffle splitter.
  • Intersections are reported >50% Fe Minimum intersection width 2 metres with internal waste of no more than 2 metres.
  • Downhole lengths reported as true width is unknown.
  • Azimuths are referenced to local grid.
  • Fe intersections grade rounded to 1 decimal figure.

Quality Assurance and Quality Control (QAQC):

Intersections reported have been verified by the Company's QAQC protocols. All samples from drill holes are prepared by Amdel and SGS Laboratory and pulverised to 90% passing 75 microns then analysed for the iron suite using XRF.

QUALIFIED PERSON

Mr. Andrew Spinks B.App.Sc, Grad.Dip (Mining), a member of AusIMM, and a consultant geologist, is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), in charge of the exploration on the Lake Giles project.

Further information on Macarthur Minerals Limited and technical reports on the Lake Giles project can be found on the company's website www.macarthurminerals.com or www.sedar.com.

On behalf of the Board of Directors,

MACARTHUR MINERALS LIMITED

John Toigo, Acting Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy or this release.

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