Macarthur Minerals Increases the Snark Potential Direct Shipping Ore Resource by 36%

Macarthur Minerals Limited (TSXV:MMS,OTC:MMSDF) reports a 36% increase in the hematite-goethite estimate at its Lake Giles project in Western Australia.

The press release is quoted as saying,

The Inferred Mineral Resource estimate for Snark has increased by 36% to 9.7 million tonnes at 55.0% Fe (refer Table 1) compared with the last resource statement of 7.1Mt at 55.9% Fe (Press Release Dated November 25, 2010). In total this brings the Inferred Mineral Resource estimate for potential DSO at Lake Giles to 20.6 Mt at 55.2% Fe (refer Table 1), which is a 14% increase over last year’s 18 Mt at 55.5% Fe.

For the complete press release, click here.