- 01Nine new Yandi South targets identified from 370 historical rock-chip samples.
- 0220 samples topped 60% Fe; peak was 66.2%.
- 03Fieldwork will guide Macro's first drilling.
Macro Metals Limited (ASX: M4M) has identified nine new exploration prospects at its Yandi South iron ore project after receiving historical sampling data with the completed acquisition.
The targets sit outside the project's previously drilled area, giving Macro more ground to investigate as it prepares its first drilling programme at the Pilbara asset.
Macro completed the purchase from Western Iron Ore on 14 October, making the first payment of A$1 million at settlement. Along with the project came results from 370 rock chip samples collected by the vendor over about eight years.
Those results had not previously been publicly disclosed, according to the announcement. Macro Metals says the information could accelerate exploration planning and save some of the time and expense of repeating early field work.
Nine Prospects Widen Search
Macro's preliminary review identified nine areas for priority field evaluation beyond the footprint already tested by drilling.
The selective surface rock chip samples recorded 20 results with grades above 60% Fe and as high as 66.2% Fe. For investors, the interest lies in whether those surface indications point to larger bodies of mineralisation that can be traced underground.
Field mapping and rock chip samples are a core component of the process for explorers to decide where to focus and what has potential, but they do not establish the size or continuity of a deposit. Further mapping, sampling and well-informed drilling programs will be needed to assess what lies beneath the promising surface results.
Managing director Simon Rushton said the additional information had strengthened the company's interest in Yandi South and would speed up technical evaluation and drill planning.
The vendor's work also gives Macro a more detailed starting point for choosing where to send its technical teams. The company plans to assess the nine prospects in the field before deciding which warrant drilling.
Foothold Beside Pilbara Iron Ore Mines
Yandi South shares boundaries with Rio Tinto's Yandicoogina and BHP's Yandi operations, placing it in one of Australia's established iron ore districts.
Macro says the northernmost part of its mineralisation is about 4.5 kilometres from an operating processing plant. That proximity helps explain the company's interest in the location, although nearby infrastructure does not establish that Macro has the right to use it.
The acquired project comprises three granted exploration licences covering 56 square kilometres. Macro has separately applied for three more licences covering another 46 sq km, which would bring the combined holding to 102 sq km if granted.
The company is targeting both channel iron mineralisation, associated with ancient drainage channels, and iron mineralisation in the underlying bedrock. The expanded sample information should help its geologists refine where to focus follow-up work across the granted ground.
Drilling to Test What Lies Below
Planning for Macro's inaugural diamond drilling program at Yandi South is well advanced. The company has identified three main tasks: fill gaps in the previously drilled area, test extensions to the known mineralisation and collect material for metallurgical testing.
Each addresses a different question. Infill holes can improve understanding between existing drill sites; extension holes test whether mineralisation continues beyond them. Metallurgical work examines the material's physical properties and how it might respond to processing.
Macro describes its exploration programme as fully funded, but the completion announcement does not set out a drilling budget, metreage or start date. Its immediate plans also include further mapping and sampling to guide drilling decisions across the new prospects.
For shareholders, the next useful update will be a clearer drilling timetable and the targets selected for testing. Those results should begin to show whether the newly received data can expand the area of iron mineralisation already investigated at Yandi South.
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