Ann: Drill Rig On Site at Wandanya Manganese Project, page-5

Here's a summary (from https://newsrush.ai/share/?document=93969&company=1880):

Macro Metals (ASX:M4M) has commenced RC drilling at its Wandanya manganese project in Western Australia, with initial rock chip sampling yielding highly encouraging results, including assays of up to 62.27% manganese.

Better than expected

The high-grade manganese results from rock chip sampling exceeded expectations, indicating significant potential for the Wandanya project.

Summary

• Macro Metals Limited (ASX:M4M) started RC drilling at the Wandanya Manganese Project in Western Australia.
• The drilling focuses on the Crossroads Prospect to determine the scale, grade, and distribution of manganese mineralization.
• Rock chip sampling at Crossroads returned significant manganese results: 60.41% Mn (MR04), 50.53% Mn (MR02), 47.12% Mn (MR01), and 46.15% Mn (MR05).
• Rock chip sampling at Wandanya also showed promising results: 62.27% Mn (MR10) and 43.96% Mn (MR09).
• The drilling program involves 15 RC holes on a 50m x 50m grid across the northern quadrant of the Crossroads Prospect.
• The program is expected to finish by December 7th, 2024, with assay results anticipated within six weeks.
• A potential second drilling program is planned for Q1 2025, depending on the initial results.
• Management expressed excitement about the potential for a bulk sample early next year, followed by a mining lease application if results are positive.

Sentiment

Score: 8

Explanation: The announcement is highly positive, with strong assay results and management expressing confidence in the project's potential. However, the results are still preliminary, and further drilling is needed to confirm the extent of the mineralization.

Highlights

• RC drilling commenced at the Wandanya Manganese Project.
• Rock chip sampling at Crossroads yielded high-grade manganese results: 60.41% Mn, 50.53% Mn, 47.12% Mn, and 46.15% Mn.
• Rock chip sampling at Wandanya also showed high-grade manganese: 62.27% Mn and 43.96% Mn.
• 15 RC holes planned on a 50m x 50m grid.
• Drilling expected to be completed by December 7th, 2024.
• Assay results expected within six weeks.
• Potential for a second drilling program in Q1 2025.

Positives

• High-grade manganese results from rock chip sampling at both Crossroads and Wandanya prospects.
• Commencement of RC drilling program to further assess the manganese mineralization.
• Positive management commentary expressing excitement about the project's potential.
• Potential for a bulk sample early next year and subsequent mining lease application.

Negatives

• Drilling program is limited to the northern quadrant of the Crossroads Prospect in this initial phase.
• Results are still pending, and the success of the project depends on the assay results.

Risks

• The success of the project hinges on the results of the ongoing drilling program and subsequent assay analysis.
• Potential delays due to weather conditions (wet season).
• Uncertainty regarding the extent and consistency of the manganese mineralization beyond the initial sampling areas.

Future Outlook

Management is optimistic about the potential for a bulk sample early next year, followed by a mining lease application if the drill results support that decision.

Management Comments

• The mapping conducted across the Crossroads Prospect has indicated that manganese mineralisation appears to be 3-4m thick where observed.' Rob Jewson, Technical Director
• We are extremely grateful to our valued partners...'Simon Rushton, Managing Director
• I am looking forward to better understanding the scale of the DSO manganese mineralisation at Wandanya so we can hopefully finalise our plan to undertake a bulk sample early next year once the wet season begins to subside and thereafter aim to move towards a granted mining lease and a longer term operation should the drill results support that decision.' Simon Rushton, Managing Director

Industry Context

This announcement is positive news for Macro Metals and the broader manganese exploration sector in Western Australia. High-grade manganese discoveries are always of interest, particularly given the strategic importance of manganese in various industries. The proximity to the Woodie Woodie Manganese Operation could also be a positive factor.

Next Steps

• Completion of the current RC drilling program.
• Analysis of assay results within six weeks.
• Potential for a second drilling program in Q1 2025.
• Planning for a bulk sample early next year, contingent on positive results.
• Application for a mining lease, subject to positive results.

Key Dates

• December 7th, 2024: Expected completion date for the initial RC drilling program.
• Early 2025: Planned timing for a potential bulk sample, pending positive drill results.
• Q1 2025: Potential start date for a second drilling program, contingent on the initial results.
• December 5th, 2024: Date of the ASX announcement.

Keywords

Manganese, Drilling, Wandanya Project, Crossroads Prospect, Exploration, Assay Results, Macro Metals, ASX:M4M, Western Australia, Mineralization