Macarthur Minerals Limited (TSX VENTURE:MMS) today reported that outcropping haematite mineralisation averaging 57.4% Fe (range 50% to 63.5% Fe) from surface rock chip samples has been identified at Red Hill, Banjo and Moonshine prospects at its Lake Giles Project.

The press release is quoted as saying:

The Fe assays were accompanied by low phosphorous levels of 0.058% P and 7.8% SiO2. These results are of similar grade to some of the iron ores being mined elsewhere in Western Australia and indicate that there is potential for the identification of direct shipping ore (DSO) in the Lake Giles Project.

Click here to access the entire press release ^[1]

Click here to access Macarthur-Minerals Corporate Site ^[2]