Macarthur Minerals And Venturex Expands Memorandum Of Understanding To Include Whim Creek

Macarthur Minerals (TSXV:MMS) announced that the Company has agreed to expand the recently announced1 Memorandum of Understanding with Venturex Resources Limited (ASX:VXR)  to include the lithium rights on VXR’s Whim Creek Project, in addition to VXR’s Sulphur Springs Project. VXR has applied for a new exploration licence adjacent to the Sulphur Springs Project which has also been included in the scope of the MOU.
As quoted in the press release:

Whim Creek

Whim Creek covers approximately 124 square kilometres (30,641 acres) of Mining Leases, Exploration Licences and Miscellaneous Licenses (see Figure 1). The Whim Creek project area covers the Archaean Whim Creek Greenstone Belt within the North Pilbara region, consisting of heavily faulted North-East trending volcanic and sedimentary rocks wrapped around earlier granitoid batholiths. The acreage covers an area of potential host rock sequences (‘greenstone belts’) for Lithium-Caesium-Tantalum (“LCT”) class of pegmatites and are located within 5–10km of the Caines Monzogranite which may be the magmatic source for LCT pegmatites.

Sulphur Springs

Sulphur Springs covers approximately 118 square kilometres (29,158 acres) of Mining Leases, Exploration Licences applications and Miscellaneous Licenses for haul road access into the project area. Sulphur Springs covers a northeast-southwest trending faulted geological contact between mafic rocks and folded sediments where the Archean greenstones and volcaniclastic rocks are folded around the intrusive Strelley Granite batholith. The acreage covers an area of potential host rock sequences (‘greenstone belts’) for LCT class of pegmatites and is located within 5–10km of a monzogranite intrusion (Strelley batholith), which may be the magmatic source for LCT pegmatites.

Whim Creek and Sulphur Springs Strategy

The majority of the acreage is comprised of granted Mining Leases M45/653, M45/494, M45/587, M45/1001, M 47/236, M 47/443, M 47/238, M47/323 and M47/324 which will allow for drilling and exploration activities for lithium to be fast-tracked, once the area is confirmed to be prospective for lithium. VXR has conducted reverse circulation (RC) drilling for zinc-copper across the Sulphur Springs acreage, which has generated a geochemical database and the opportunity to resample existing drill spoil and RC drill chips for lithium or lithium pathfinder elements.

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