Macarthur Minerals (ASX:MIO) has been granted a five year extension of term for Exploration Licence E45/4735, with a new expiry date of November 2027.
The licence is located in the Pilbara region of Western Australia and is situated between Atlas Iron's Abydos iron ore mine and BHP's (ASX:BHP) planned Sandtrax operation.
Macarthur Minerals says its primary focus is on its flagship Lake Giles Iron Project and the company is also expanding its diversified project portfolio with the Pilbara iron ore, Lake Giles nickel and Nevada lithium areas.
The company has two tenements located in the Pilbara region of Western Australia, Strelley Gorge and Tambourah North, and mineral rights for iron ore on two tenements in the Pilbara region of Western Australia, Strelley Gorge and Tambourah North.