Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce Hastings Technology Metals (ASX:HAS) (“Hastings”), Cadence’s joint venture partner at the Yangibana Rare Earth Project in the Gascoyne region of Western Australia (“Yangibana” “Yangibana Project”), has announced on the 31 October and 4 November 2019 revised Mineral Resource and Ore Reserve statements for the Yangibana Rare Earth Project.
Cadence Minerals Yangibana Holding:
Cadence owns 30% of the Yangibana, Yangibana North, Gossan, Hook, Kanes Gossan and Lions Ear Rare Earth Deposit, which form part of the Yangibana Rare Earth Deposit. As a result of these recent announcements Cadence joint venture tenements have the following Ore Reserves and Mineral Resources.
Table 1 -Total JORC (2012) Ore Reserves November 2019 (100%)
|Deposit||M Tonnes||% TREO||% Nd2O3+Pr6O11|
Table 2 – Total JORC (2012) Mineral Resources October 2019 (100%)
|Deposit||Category||M Tonnes||% TREO||% Nd2O3+Pr6O11|
*This includes Gossan, Hook, Kanes Gossan and Lion’s Ear.
The full releases, including detailed summaries of ore reserves and mineral resource changes can be found at: https://www.asx.com.au/asxpdf/20191031/pdf/44b34bbqjb99yg.pdf & https://www.asx.com.au/asxpdf/20191104/pdf/44b7swzfb3dv7n.pdf
Cadence CEO Kiran Morzaria commented: “Following the key appointment of DRA Pacific in October, on behalf of myself and Cadence Minerals we are delighted with these recent announcements at Yangibana. Each step forward is providing solid validation for our investment strategy into the Yangibana joint venture, and with the project now firmly in development phase, we await further news with great interest.”
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For further information:
|Cadence Minerals plc||+44 (0) 207 440 0647|
|WH Ireland Limited (NOMAD & Broker)||+44 (0) 207 220 1666|
|Novum Securities Limited (Joint Broker)||+44 (0) 207 399 9400|
Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identiﬁed by their use of terms and phrases such as ‘‘believe’’ ‘‘could’’ “should” ‘‘envisage’’ ‘‘estimate’’ ‘‘intend’’ ‘‘may’’ ‘‘plan’’ ‘‘will’’ or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reﬂect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-lookingstatements.