Macarthur Minerals Completes Acquisition of 15% Interest in Western Australian Gold Project.
M2 EQUITYBITES-October 27, 2017-Macarthur Minerals Completes Acquisition of 15% Interest in Western Australian Gold Project
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27 October 2017 - Canadian miner Macarthur Minerals Ltd. (TSX Venture: MMS) has received the settlement funds of AUD 100,000 (USD 77,690) from Mining and Metallurgy Process Solutions Pty Ltd., the company said.
This payment now completes the settlement between the parties and gives the company clear title to the 15% of Yalgoo Exploration Pty Ltd, which owns the Melville Gold Project in Western Australia.
Yalgoo Exploration owns two granted exploration licences (E59/2077 and E59/2140), covering an area of 191 square kilometres (47,161 acres) in the Murchison region of Western Australia.
The Yalgoo Tenements are located approximately 500 km north-east of Perth and 220 km east of Geraldton.
The Melville Gold Project located on exploration licence E59/2077 was previously owned by Australian Securities Exchange listed Prosperity Resources Ltd.
In 2004 Prosperity Resources defined a mineral resource for the Melville Gold Project in accordance with The Australasian Code for the Reporting of Identified Mineral Resources and Ore Reserves (JORC Code), 2004.
Macarthur Minerals is an exploration company that is focused on identifying high grade lithium and gold. Macarthur Minerals has significant lithium, gold and iron ore exploration interests in Australia and Nevada.
The company has two iron ore projects in Western Australia; the Ularring hematite project and the Moonshine magnetite project.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Oct 27, 2017|
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