Macro Metals has completed its acquisition of the Yandi South iron ore project in Western Australia following a AU$1 million consideration payment to Western Iron Ore.
Upon settlement, Western Iron Ore handed over an extensive catalogue of historical geological data, including results from 370 rock chip samples collected across the project’s three granted tenements.
The newly received data is set to significantly accelerate Macro’s targeted exploration and drill planning across the package.
Preliminary evaluation by Macro’s technical team identified nine new prospects outside the previously drilled footprint. Among the results, 75 rock chip samples returned grades between 55 and 60 per cent iron, while 22 samples exceeded 60 per cent iron, reaching peaks of up to 66.2 per cent iron.
Managing Director Simon Rushton said the additional geological data provided confirmed widespread high-grade surface mineralisation and strengthened the project’s outlook.
“The project is located in the heart of a globally significant mining precinct and is surrounded by tier one mining operations,” Rushton said.
“The provision of this technical information will significantly accelerate the technical evaluation and planning activities for further exploration and drill testing of Yandi South with the firm intent of growing the resource.”
The Yandi South project covers 102 square kilometres, comprising three granted exploration licences spanning 56 square kilometres and three additional licence applications covering 46 square kilometres.
The tenure shares boundaries with Rio Tinto’s Yandicoogina mine and BHP’s Yandi mine, with mineralisation located just 4.5 kilometres from an operational processing plant.
The company’s planning for an inaugural diamond core drilling program is well advanced. The program will focus on infill drilling within previously tested areas, extensional drilling, and metallurgical test work to define the physical properties of the mineralisation.
Macro will also conduct field mapping and sampling across the nine newly identified prospect areas to support future target generation and drill access.