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Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) announces encouraging initial drill results at the Pilbara Hillside Project.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note today’s update from Macarthur Minerals (TSX-V: MMS) (“Macarthur”), that it’s Joint Venture Partner, Fe Limited (“FEL”) has received encouraging results from its first phase preliminary drilling at the Hillside Project in Western Australia targeting underground extensions to the periodically outcropping mineralised gossan identified during previous reconnaissance.  A total strike length of 14km was mapped and sampled at outcrop resulting in high grade rock chip results as reported in ASX announcement October 9, 2019.

Cadence Minerals Holding in Macarthur

Cadence holds approximately 6% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

Highlights:

  • Encouraging results received from recent Hillside drilling.
  • Results demonstrate support for mineralised gossan model.
  • Down dip extension of mineralised gossan intercepted in two holes.
  • Anomalous results received include:
  • HRC 001: 1m @ 0.19% Cu, 230ppm Co, 0.14% Zn, 0.07ppm Au from 28m.
  • HRC 022: 1m @ 0.74% Cu, 349ppm Co, 0.41% Zn, 0.14ppm Au from 83m.
  • HRC 036: 1m @ 0.18% Cu, 0.12% Zn from 25m, 1m @ 0.27% Cu from 40m.
  • All Intercepts demonstrate down dip extensions to the mineralised gossan at surface.

A total of 1798m from 36 holes were drilled at approximately 1km intervals targeting underground extensions to the periodically outcropping mineralised gossan identified during previous reconnaissance.

Limited historical targeting data was available, and first pass hole locations were chosen using estimated dip and dip direction from the interpreted lineament of the mineralised strike. Supporting information included field observations, a coincident westerly dipping magnetic anomaly with its eastern extent coinciding roughly with the interpreted gossan lineament and the presence of highly leached surface lithologies indicating the possibility of sulphides at depth.

FEL and Macarthur have now received all results of the assays and initial interpretation shows three holes have been positively identified to have intercepted down dip extensions of the surface gossan. These holes span the entire length of the mapped strike length demonstrating down dip extension of the surface mineralisation.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=6135740381549710&qm_symbol=MMS

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss

 

 

Qualified Person

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.

Forward-Looking Statements:

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-looking statements.

 

Cadence Minerals #KDNC CEO Kiran Morzaria discusses the company’s lithium, rare earth and iron ore assets with Vox Markets

Cadence Minerals #KDNC CEO Kiran Morzaria discusses the company’s lithium, rare earth and iron ore assets with Abraham Darwyne at Vox Markets. Link on the image to watch.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) confirms major intersections of magnetite mineralisation at Lake Giles Iron Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (“Macarthur”)  that it has confirmed significant intersections of magnetite mineralisation at its Lake Giles Iron Project near Kalgoorlie in Western Australia following the completion of its infill drilling program.

Drilling at the Moonshine North deposit comprised 21 reverse circulation (RC) holes for 3379 metres advance and 9 diamond drill (DD) holes for 1676.2 metres advance totalling 5055.2m. Drilling was completed in December 2019 with final assay results received this week.

Cadence Minerals Holding in Macarthur

Cadence holds approximately 7 % of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

Highlights

·      DD hole LGDD_070 intersected high grade magnetite mineralisation. The interval 73m to 174m (101m) averaged 28.4% Fe.

·      DD hole LGDD_071 intersected the interval 78m to 162m (84m) averaging 30.4% Fe (including the interval 106m to 130m with a grade of 41.2% Fe).

·      DD hole LGDD_074 intersected the interval 46m to 99m (53m) averaging 32.8% Fe.

Link here for the full announcement: https://web.tmxmoney.com/article.php?newsid=5722202672725413&qm_symbol=MMS

Macarthur Minerals Executive Chairman Cameron McCall said: “This is an outstanding result that builds our confidence to upgrade the resource classification to include Indicated and Measured Mineral Resources. The updated mineral resource, when completed, will underpin the Feasibility Study to be completed for the Lake Giles Iron Project.”

Cadence Minerals CEO Kiran Morzaria commented: “Once again, Cameron McCall and his team have added value to the Macarthur investment proposition. As major shareholders we are delighted to continue to support Macarthur, and we look forward to further developments.”

This news release is not for distribution to United States Services or for Dissemination in the United States. 

– Ends –

 

For further information:

Cadence Minerals plc

+44 (0) 207 440 0647

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Novum Securities Limited (Joint Broker)

+44 (0) 207 399 9400

Jon Belliss

 

Qualified Person

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.

 

Forward-Looking Statements:

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-looking statements.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Q4 Update & Early 2020 Update on W Australia Projects, “Iron Ore the Commodity for 2020”.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note today’s Q4 update from Macarthur Minerals (TSX-V: MMS) (“Macarthur”) on it’s flagship Lake Giles Iron Project, along with very positive early exploration results across Macarthur’s iron ore, gold, nickel and cobalt projects in Western Australia.

Cadence Minerals Holding in Macarthur

Cadence holds approximately 7.4% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

Highlights:

  • The Lake Giles Iron Project, Feasibility Study (FS), is well underway with the infill drilling program completed in December. Results from the first batch of samples from Reverse Circulation (RC) and Diamond (DD) drilling were reported to the market on December 10, 2019.  Several drill holes intersected a zone of high-grade magnetite mineralisation identified previously at the Moonshine North deposit.
  • Macarthur was admitted to the Official List of Australian Securities Exchange (ASX) on December 4, 2019 and commenced quotation of its securities on ASX on December 6, 2019.
  • The Company successfully closed the Offer under its Replacement Prospectus on 28 November 2019 with subscriptions accepted for 20,032,952 shares at a price of A$0.25 per share for a total consideration of A$5,008,238. Funds from the ASX IPO will be primarily used to advance the Company’s flagship Lake Giles Iron Project.
  • Macarthur entered into a binding agreement with Arrow Minerals Limited (Arrow) to acquire the rights to a substantial package of land covering approximately 4950 ha adjacent to the Moonshine Magnetite deposit. The tenure will be used for constructing supporting infrastructure including the, processing plant, camp, airstrip, waste rocks dumps and a tailings storage facility. The deal with Arrow also paves the way forward to obtain access to tenure to construct a private haul road from the project through to the open access Perth to Kalgoorlie railway owned by Arc Infrastructure.
  • A drilling program was completed at the Hillside project in the Pilbara region of Western Australia to test potential supergene and hypogene mineralisation above and below the water table along the majority of a 14-kilometre Gossan line where previous rock chip sampling identified anomalous copper. This program also tested outcropping quartz vein mineralisation identified through prospecting activities.

Along with key partners, Macarthur will continue to actively advance its iron ore assets in Western Australia.  Infill drilling of the Moonshine Magnetite deposit has been completed with samples submitted to the laboratory. On receipt of assay results, Macarthur will update the geological model of the Moonshine Magnetite deposits in conjunction with completing a Feasibility Study of the Lake Giles Iron Project.  Furthermore, Macarthur will work closely with Fe Limited to advance exploration of its high-quality lithium, gold and base metal tenements in the Pilbara region.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=8174582862817551&qm_symbol=MMS

Macarthur Executive Chairman Cameron McCall commented: “The strong iron ore price continues to trade in a spot range (for the last quarter) of US$80-$93/tonne for 62% Fe ore and this is creating momentum in the global iron ore industry.  Historically, iron ore prices tend to retract in the lead up to the Chinese New Year period when mills generally reduce production, but this does not appear to be the case this year.

Macarthur’s focus remains on delivering a high-quality, low-impurity magnetite fines product (+65% Fe) which will target Asian steel mills that are focused on producing quality steel products, enhanced furnace efficiencies, reduced consumption of coking coal and improved environment emissions standards.

In reflecting on the 2019 calendar year, it is pleasing to note the Company achieved all of its targeted goals for the year.”

Cadence CEO Kiran Morzaria commented: “While 2019 proved to be a bumper year for Macarthur and its shareholders, the company’s bullish outlook for 2020, along with management comments on the strength of the iron ore price, provides a strong endorsement for Cadence Minerals’ investment strategy, both into Macarthur and into our own iron ore project at Amapa, Brazil.”

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

 

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss

 

Qualified Person

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.

Forward-Looking Statements:

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-looking statements.

Cadence Minerals (KDNC) – Macarthur Minerals (TSX-V: MMS) Secures Access to Land for Infrastructure at Its Lake Giles Iron Project, W Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update from Macarthur Minerals (TSX-V: MMS) (“Macarthur”) that it has entered into an agreement with Arrow Minerals Limited (“Arrow”) to acquire mineral tenure for the development of site infrastructure at its Lake Giles Iron Project.

Macarthur has acquired a substantial package of land covering approximately 4950 ha adjacent to the Moonshine Magnetite deposit. The tenure will be used for constructing supporting infrastructure including waste rocks dumps, processing plant, camp, airstrip and a tailings storage facility. The deal with Arrow also paves the way forward to obtain access to tenure to construct a private haul road from the project through to the open access Perth to Kalgoorlie railway owned by Arc Infrastructure.

Macarthur plans to commence site investigations including geotechnical drilling, groundwater exploration and environmental surveys in early January 2020 as it progresses the Feasibility Study of its Lake Giles Project aimed at producing a high-grade magnetite concentrate.

In consideration for entering into the agreement, Macarthur will pay Arrow $500,000, being $250,000 in cash, to be paid immediately, and issue $250,000 in shares in six months.  The shares will be issued at a 20% discount to the 5-day VWAP prior to the issue.

Cadence Minerals Holding in Macarthur

Cadence holds approximately 7.4% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=6635649457301504&qm_symbol=MMS

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

 

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss

 

 

Qualified Person

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.

 

Forward-Looking Statements:

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-looking statements.

Cadence Minerals (KDNC) – Macarthur Minerals (TSX-V: MMS) Intersects High Grade Magnetite at its Lake Giles Iron Project, W Australia.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the update yesterday from Macarthur Minerals (TSX-V: MMS) (“Macarthur”) on the recent infill drilling program at its Lake Giles Iron Project in the Yilgarn region of Western Australia. Infill Drilling has intersected a zone of high-grade magnetite mineralisation identified previously at the Moonshine North deposit and assay results have been received for several Reverse Circulation (RC) drill holes.

Cadence Minerals Holding in Macarthur 

Cadence holds approximately 7.4% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

Highlights:

  • Reverse Circulation drilling has successfully intersected the previously identified high grade magnetite mineralisation at Moonshine North.
  • Hole LGRC_2160 intersected an interval 86m to 180m (94m) averaging 40.51% Fe (including the interval 121m to 171m with a grade of 47.52% Fe).
  • Hole LGRC_2166 intersected the interval 95m to 152m (57m) averaging 40.23% Fe (including the interval 129m to 147m with a grade of 60.64% Fe).
  • Diamond drill hole LGDD_071 drilled at Moonshine North has also intersected the high-grade magnetite mineralisation from a down hole depth of 91.5m to 162.74m (71.24m) with strong visual magnetite content.

The drilling programme commenced on 17 August 2019 and concluded on 8 December 2019 with a total of 21 RC holes and nine diamond drill holes completed.

The results of the drilling campaign have shown a successful intersection of high-grade magnetite mineralisation. Previous test work has demonstrated the potential to produce a processed high-grade magnetite concentrate of approximately 68-69%.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=5886035836892236&qm_symbol=MMS

Macarthur Minerals Executive Chairman Cameron McCall commented: “The Company is extremely pleased with its successful listing on the Australian Securities Exchange (ASX) and the positive market response in the first two days of trading.  Macarthur’s dual listing on the ASX and the TSX-V will provide the Company with increased opportunities in the pre-development stage of its flagship Moonshine Magnetite Project. 

“With Australia as a major exporter of iron ore to the world and the ASX being the home exchange to some of the world’s largest iron ore producing companies, it makes sense for Macarthur to be dual listed in Australia.”

Cadence CEO Kiran Morzaria commented; “As major shareholders in the company, the Cadence board remains enthused by the ongoing potential at the Lake Giles Iron project, and the increased profile Macarthur now enjoys as a dual listed entity. We look forward to further updates.”

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

 

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss

 

Qualified Person

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.

Forward-Looking Statements:

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-looking statements.

Brand CEO Alan Green talks about: Metro Bank #MTRO Cadence Minerals #KDNC and Smart Metering Systems #SMS on the Vox Podcast.

Brand CEO Alan Green talks about: Metro Bank #MTRO Cadence Minerals #KDNC and Smart Metering Systems #SMS on the Vox Podcast.
 
Interview starts at 19 minutes 33 seconds.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) JV Partner FE Limited Commences Drilling Program at Hillside Project in the Pilbara Targeting Copper, Gold and Manganese.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (“Macarthur”) that its Joint Venture Partner Fe Limited (“FEL”) has commenced a Reverse Circulation (RC) drilling campaign at the Hillside Project in the Pilbara Region of Western Australia where high-grade copper and manganese results were returned in recent sampling, as reported by Macarthur on October 9, 2019.

Cadence Minerals Holding in Macarthur

Cadence holds approximately 9.8% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

FE Limited Drilling Program Highlights: 

  • Road access and site earthworks at the Hillside Project have been completed.
  • Programme of Works approvals have been received from the Western Australian Department of Mines, Industry, Resources and Safety (DMIRS).
  • Heritage clearance obtained from the Native Title Claimants.
  • Mobile Camp and RC drill rig has been mobilised to site.
  • Drilling planned to commence today

Drilling has been planned to test potential supergene and hypogene mineralisation above and below the water table along the majority of the 14-kilometre Gossan line. This program will also test outcropping quartz vein mineralisation identified through prospecting activities.

Additional follow-up exploration will also be conducted in the vicinity of the high-grade manganese outcrop identified during recent field work.

FE Limited Earn-in with Macarthur

Macarthur Lithium Pty Ltd (“MLi”), a wholly owned subsidiary of Macarthur entered into an exclusive option agreement (“Option Agreement”) with FEL as announced on May 14, 2019, to earn up to 75% in its Pilbara lithium and gold projects in respect of 18 tenements in the Pilbara ranging from south of Nullagine to north of Pilgangoora.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=4745802456957360&qm_symbol=MMS

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

 

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss

 

Qualified Person

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.  

Forward-Looking Statements:

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-looking statements.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Progress Update on Infill Resource Drilling at Its Lake Giles Iron Project in Western Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note an update today from Macarthur Minerals (TSX-V: MMS) (“Macarthur”) on the progress of its infill drilling program of the Moonshine Magnetite deposit at its Lake Giles Iron Project in Western Australia.

Moonshine Magnetite Infill Drilling Program

The diamond and reverse circulation (RC) drilling program commenced in August in the central region of the Moonshine deposit.

The majority of the Moonshine and Moonshine North deposits are defined by drill hole spacing of 200m X 200m and classified as an Inferred Mineral Resource of approximately 710 mt of at 30.2% Fe.

The infill drilling program has been designed at closer drill hole spacing to upgrade the resource classification for some of the Moonshine deposit. The drilling program includes a planned total of 21 RC holes and 9 diamond holes for total drilling of 5,190 m.

The drilling program has been designed with the goal of upgrading the resource classification to include Indicated and Measured Mineral Resources. The updated mineral resource will underpin the Bankable Feasibility Study to be completed for the Lake Giles Iron Project.

The first batch of drill samples are being prepared for dispatch to the laboratory.

Drilling Highlights:

  • Diamond drill hole LGDD_066 has intersected the Banded Iron Formation (“BIF”) unit from a down hole depth of 12.6 m and includes a section of 81.1 metres from 49.9m with strong visual magnetite content.
  • Diamond drill hole LGDD_067 has intersected BIF from a down hole depth pf 68.5m with strong magnetite content through to current depth at 136m. Drilling is continuing to a planned depth of 240m.
  • A third diamond hole has been pre-collared to 60m with the RC rig with diamond drilling scheduled to commence today.
  • Reverse Circulation Drilling of hole LGRC_2146 has successfully intersected the western footwall contact of the BIF. Hole LGRC_2147 has intersected strong magnetite BIF from the eastern contact at 89m through to 203m and lower grade magnetite from 203m through to the western footwall contact at 274m downhole depth.

Cadence Minerals Holding in Macarthur

Cadence holds approximately 9.8% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=4544850112107715&qm_symbol=MMS 

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

 

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss

 

Qualified Person

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.

Forward-Looking Statements:

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-looking statements.

 

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Joint Venture Partner FE Limited Releases Initial Assay Results on the Hillside Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (“Macarthur”) that its Joint Venture Partner Fe Limited (“FEL”), has released assay results from a recent field trip to the Hillside Gold and Copper Project in the Pilbara Region of Western Australia.

Samples collected by FEL’s geological team during a recent site visit to the Hillside tenements were submitted to the laboratory for analysis in early August. Three of the assays received so far have returned strongly anomalous grades for base metals and gold from different locations.

The base metals results from the gossan outcrop shows similar copper grades to a historical rock chip from a gossan outcrop directly south along strike approximately 6 kilometres away.  Both outcrops lie within a strong magnetic anomaly identified in the SkyTEM electromagnetic survey conducted by MLi in 2018. This gossan will be a high priority drilling target in coming months.

Cadence Minerals Holding in Macarthur

Cadence holds approximately 9.8% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

About FE Limited

FE Limited (ASX: FEL) is a listed mineral exploration Company that holds or has rights or interests in various projects and tenements prospective for battery metals, copper, iron ore, gold and base metals located in Australia. The Company is focused on the exploration of battery metal projects. In March 2019, FEL entered into an agreement to acquire the Pippingarra Lithium Project and the Marble Bar Lithium Project (Project) from Mercury Resources Group Pty Ltd. These areas complement the tenement portfolio of Macarthur Minerals, establishing an 1800 square kilometre exploration footprint in the important Lithium and Gold region of Western Australia.

On May 14, 2019 Macarthur announced it had entered into an exclusive option agreement with FE Limited (ASX: FEL), for FEL to acquire an interest of up to 75% in the tenements held by Macarthur’s wholly owned subsidiary Macarthur Lithium Pty Ltd (“MLi”).

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=6869424999245667&qm_symbol=MMS

Cadence CEO Kiran Morzaria commented;“Following on from yesterday’s progress report on Lake Giles, we are pleased to note some encouraging early exploration results from the Hillside Gold and Copper Project by Macarthur’s JV partner Fe Limited.”

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

 

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss

 

Qualified Person

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.

Forward-Looking Statements:

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-looking statements.

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