Macro Metals (ASX:M4M) | Agreement Executed to Acquire Yandi South Iron Ore Project
MarketOpen Trading Titan | Macro Metals (ASX:M4M) | Yandi South Iron Ore Project Acquisition
Macro Metals (ASX:M4M) has executed a binding agreement to acquire 100% of the Yandi South Iron Ore Project in Western Australia, located approximately 5km southeast of BHP's Yandi operation and sharing a boundary with Rio Tinto's Yandicoogina Mine. This episode covers the acquisition terms, historical resource estimate, exploration results, magnetite testwork and the company’s planned next steps for the project.
Key facts covered in this episode:
Acquisition of three granted exploration licences covering approximately 56km², with applications lodged for an additional 46km² of exploration tenure adjacent to the project.
Total consideration of A$6.5 million plus a tiered royalty structure of 3% of sale proceeds on the first 4.275Mt sold, increasing to 5% on tonnes sold above that threshold.
Historical JORC (2004) Indicated Mineral Resource Estimate of 4.28Mt at 55.8% Fe, including a higher-grade zone of 1.9Mt at 58.0% Fe.
Historical drilling comprising 12 diamond core holes totalling 1,109m and 109 reverse circulation holes totalling 2,316m, with reported intersections including 17m at 57.89% Fe from surface and 22m at 55.74% Fe including 5m at 61.2% Fe.
Previous magnetite drilling identified magnetite enriched horizons up to 150m thick from surface, with metallurgical testwork across 82 Davis Tube Recovery tests reporting concentrate iron content of around 69% Fe.
The existing resource and mapped areas cover approximately 10% of the acquired tenure, with Macro identifying additional areas for mapping, sampling and potential drill testing.
Planned next steps include field mapping, rock chip sampling, assessing potential drilling of the Tributary extension zone, locating and relogging available drill core, advancing magnetite metallurgy work, updating the resource model to JORC (2012) standards, and commencing mining studies.
The transaction remains subject to conditions precedent, including completion of legal due diligence and confirmation that ASX Listing Rules 11.1.2 and 11.1.3 do not apply.
This episode is for information purposes only and does not constitute financial advice. Listeners should conduct their own research and consider their personal financial circumstances before making any investment decision.