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Macro Metals Limited (ASX: M4M) is pleased to announce the positive results from its systematic rock chip sampling program conducted at the Callisto and Europa Prospects within its Cane Bore Project in Western Australia. This sampling program was designed to quantify the specifications of the Channel Iron type mineralisation exposed at the surface and assess the levels of deleterious elements.
Consistent Mineralisation and Low Deleterious Elements
The results indicate a strong degree of consistency in the mineralisation throughout the samples collected, with a notably low profile of deleterious elements. In particular, the samples showed very low levels of phosphorus. These preliminary specifications are encouraging, suggesting that the saleable ore will not only be marketable on its own but also ideal for blending with other iron ore products to create a more valuable product with lower overall deleterious element content.
Initial Metallurgical Sampling
Initial metallurgical samples have been taken from both the Callisto and Europa Prospects to determine their amenability to beneficiation via simple dry classification. These steps are crucial for understanding how to optimize the ore's marketability and ensure it meets industry standards.
Steps Ahead
The company has several important steps lined up:
- Anthropological and Archaeological Survey: An anthropological and archaeological survey to clear both the Callisto and Europa Prospects will commence next week.
- Drilling Program: The program of works for drilling at Cane Bore has been approved, with drilling set to commence in June 2024.
Market Response
In response to the positive results, Macro Metals' share price increased by 2.86%, reaching 3.6 cents at the time of writing on 31 May 31 2024.
Moving Forward with Confidence
The positive results from the rock chip sampling program at Cane Bore provide Macro Metals with a solid foundation to proceed with more detailed exploration and development activities. The consistency of mineralisation and low levels of deleterious elements are promising indicators for the project's potential. The upcoming drilling and surveys will further delineate the prospects and refine the company's approach to developing these resources.
Macro Metals remains committed to advancing its exploration projects and delivering value to its shareholders through strategic and well-executed exploration activities.
