Macro Metals identifies high-grade hematite outcrops and scree at Goldsworthy East
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2024-09-02
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Macro Metals (ASX: M4M) has identified high-grade hematite outcrops and subcrops over a prospective target area at the southern extent of its Goldsworthy East iron ore project in Western Australia.Scree samples, visually comprised entirely of hematite mineralisation with patches of specular hematite, have also been discovered at the target, making it appear visually similar to ore mined from the Goldsworthy open pit 1,800 metres along strike to the west.Significant assays from these samples included up to 65.04% iron, up to 3% aluminium oxide, up to 4.26% silicon dioxide and up to 0.041% phosphorus.The area has been mapped at 220m wide with a strike of 450m and remains open to the west, with more than 90% of its surface geology obscured by a transported chert cover sequence that crops out extensively to form a prominent ridge to the north.Macro has discovered dark ferruginous exposures of outcrops and subcrops of mineralisation, contrasted with monotonous white cherts, to the south of this ridge.Rock chip sampling results from the area included up to 60.09% iron, up to 0.83% aluminium oxide, up to 4.72% silicon dioxide and up to 0.053% phosphorus.The company’s technical director Robert Jewson said the company was pleased with the results.“We were particularly surprised to identify such high-grade mineralisation at the surface, which has given us a compelling footprint for drilling,” he said.“We have commissioned Southern Geoscience Consultants to process and interpret gravity data and recently acquired magnetic data with the benefit of our updated understanding of the geology at Goldsworthy East to help with the planning of our next drilling campaign.”Macro has confirmed that an objection lodged to an exploration licence application for the Goldsworthy East project by BHP Group (ASX: BHP) has been withdrawn, allowing the regulator to proceed with the granting of the licence.Macro secured a land access agreement in June with the mining heavyweight, which owns the Goldsworthy iron ore mine next door to Macro’s acreage.An environmental survey has been completed without incident, with just the data processing still to be conducted ahead of the upcoming drilling campaign.
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