Macarthur Minerals Acquires Lithium Project in Yalgoo Region of Western Australia

Macarthur Minerals (TSXV:MMS) is pleased to announce that it has entered into an agreement to acquire exclusive rights for two granted exploration licenses (E59/2140 and E59/2077) covering an area of 191 square kilometres (47,161 acres) in the Yalgoo region of Western Australia. The acreage on which rights to lithium are acquired is in proximity to the Company’s existing Edah Hill lithium acreage and consists of granted exploration licenses allowing immediate exploration for lithium.
Previous drilling activities by other companies on the Yalgoo Acreage has intersected buried pegmatites in 14 drill holes and buried pegmatites for up to 3.5 kilometres down strike of previously mapped pegmatites[1]^,[2]. In addition, within five kilometres of the Yalgoo Acreage, another company’s rockchip samples record significant results for Li₂O of up to 1.64% as well as elevated beryllium (Be) (96 ppm), caesium (Cs) (1,840 ppm) and rubidium (Rb) (19,200 ppm)^[3],[4].
David Taplin, President, CEO and Director of Macarthur commented:
“Macarthur Minerals is excited about the acquisition of another lithium project, in the Yalgoo region of Western Australia. In addition, the acreage is granted, allowing for immediate lithium exploration. Historic records indicate that the project is highly prospective for lithium with occurrences of up to 1.64% Li₂O on surrounding acreage. The Yalgoo acquisition significantly adds to Macarthur Minerals’ hard rock lithium acreage package, which now exceeds 1,869 square kilometres.”
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