Macro Metals receives exploration licence and plans drilling programme

Macro Metals Limited (ASX:M4M) has been granted exploration licence 45/6365 for its Goldsworthy East Project on 6 September 2024. The company has submitted a programme of works (POW) for its Stage 1 drilling programme, which is expected to comprise a minimum of 30 holes at 50 metre spacings with an average depth of 200 metres, covering a total estimated drilling distance of 6-8,000 metres. Approval for drilling is anticipated within 10 business days.

Managing Director's Perspective on Goldsworthy East Project

Managing Director, Mr Simon Rushton, expressed gratitude towards the government's support and the department's handling of the Goldsworthy East project. He commended the team for their hard work and commitment, highlighting the completion of various surveys and mapping campaigns, as well as the timely finalization of logistics for the drilling programme. Mr Rushton also expressed excitement about the project's potential, citing its proximity to the old Mt Goldsworthy Iron Ore Project and the significant progress achieved ahead of schedule.

Outlook for Goldsworthy East Project

Macro Metals' successful acquisition of the exploration licence and the imminent commencement of the Stage 1 drilling programme mark significant progress for the Goldsworthy East Project. The company's proactive approach, including the detailed mapping and sampling programme, demonstrates its commitment to maximizing the project's potential. With the project's location near the old Mt Goldsworthy Iron Ore Project and the support from the government, Macro Metals is well-positioned to capitalize on the project's prospects. The company's ambitions to become a multi-mine iron ore producer further underline the significance of the Goldsworthy East Project in its corporate strategy.