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Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) files Technical Report for Lake Giles Magnetite Mineral Resource.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has filed the technical report for the magnetite Mineral Resource update for its 100% owned Lake Giles Iron Project (”the Project”) in Western Australia. 

Highlights: 

·       Macarthur Minerals files NI43-101 Technical Report for the magnetite Mineral Resource at its Lake Giles Iron Project

·       Measured Mineral Resources totaling 53.9 Mt and Indicated Mineral Resources of 218.7 Mt

·       Inferred Mineral Resource of 997.0 Mt

·       Macarthur now has sufficient Mineral Resources in the appropriate categories to progress its Feasibility Study. 

The independent technical report, entitled “NI43-101 Technical Report, Magnetite Mineral Resource, Lake Giles Magnetite Project, Western Australia (“2020 Technical Report”) with an issue date of September 29, 2020 was prepared in accordance with the requirements of National Instrument 43-101 (“NI 43-101”).  The 2020 Technical Report is filed under the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) website at www.sedar.com (filing date: October 1, 2020) and on the Company’s website at www.macarthurminerals.com . 

The Technical Report was completed by independent geological consultants CSA Global Pty Ltd (CSA Global). 

The previous Mineral Resource estimates presented to the market between 2009 and 2019 consisted entirely of Inferred resources, including 710 million tonnes (“Mt”) at the Moonshine deposits. During 2019 the Company completed a program of infill drilling across some of the Moonshine deposit to upgrade the Mineral Resource category to include Indicated and Measured resources.  The Mineral Resource upgrade has delivered sufficient resources in the appropriate categories to underpin the current Lake Giles Iron Project Feasibility Study. 

The updated Mineral Resource estimates incorporate the recent drill assays and has resulted in an increase in the size of the Moonshine mineral resources, including resource category upgrades to now include Measured and Indicated resources. Approximately 30% of the Moonshine resource is now classified as Indicated with approximately 7.5% classified in the Measured category. 

Highlights of Mineral Resource estimates: 

·       Measured resources of 53.9 Mt at 30.8% Fe head grade and 66.0% Fe DTR concentrate grade

·       Indicated resources of 218.7 Mt at 27.5% Fe head grade and 66.1% Fe DTR concentrate grade

·       Inferred resources of 997.0 Mt at 28.4% Fe head grade and 64.6% Fe DTR concentrate grade 

The full release can be found at: https://money.tmx.com/en/quote/MMS/news/8689535428398925/Technical_Report_for_Lake_Giles_Magnetite_Mineral_Resource 

Cadence Minerals Holding in Macarthur 

Cadence holds approximately 2% 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.

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

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For further information:
Cadence Minerals plc                                                   +44 (0) 7879 584153
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) (ASX: MIO) Esperance Bulk Port Rail Unloading Solution Advances with RCR Mining Technologies.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has provided an update on its continued progress towards completing its route to market for the flagship Moonshine magnetite deposits at Lake Giles.  Following the recent engagement of RCR Mining Technologies Pty Ltd (“RCR MT”) to provide a conceptual engineering and design solution for rail transport and unloading infrastructure of magnetite concentrate at the Port of Esperance, Macarthur and RCR MT completed a site visit to the port on 27 August 2020 in conjunction with representatives from Southern Ports Authority and Arc Infrastructure.

Highlights:

  • Macarthur and RCR Mining Technologies (“RCR MT”) have completed a site visit to the Port of Esperance in conjunction with representatives from Southern Ports Authority and Arc Infrastructure.
  • Subject to approval by Southern Ports Authority, RCR MT’s cutting edge ‘Helix Dumper Wagon’ (“Helix Dumper”) transport solution for Lake Giles Iron Project can be developed within the Port envelope at Esperance.
  • Macarthur’s market-lead proposal for the development of the Helix Dumper solution will allow optimisation of existing Berth 3 ship-loader capacity at the Port of Esperance, enhancing its current performance from the current 2,220tph throughput to over 4,500tph capacity.
  • RCR MT expects to complete its engineering design report on the Port of Esperance unloading infrastructure within weeks, creating a pathway (in collaboration with Southern Ports Authority and Arc Infrastructure) to select a preferred development option for the new rail unloading infrastructure system.
  • Reaching agreement on a preferred development option for the Helix Dumper and connected conveyor path will deliver the next material piece of the rapidly emerging ‘route to market’ solution for Macarthur’s Lake Giles Iron Project.

Following completion of the engineering design report by RCR MT in coming weeks, Macarthur will be engaging with key stakeholders to endeavour to agree a preferred option for the development of unloading infrastructure at the Port.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7383599247169787&qm_symbol=MMS

Macarthur President and Executive Chairman Cameron McCall commented: “Macarthur is continuing to forge ahead with a systematic approach to delivering every component of the infrastructure pathway that is necessary to bring Macarthur’s Lake Giles Iron Project into production and to see the first ore go over the ship’s rail.  The Board is confident that it has a Management team with the unique commercial and technical capabilities to get this over the line and take advantage of the current strength and resilience of the global iron ore market. 

There is a very real concerted energy building around the Lake Giles Iron Project and the Company is exceptionally excited to be working collaboratively with the great teams at Southern Ports Authority, RCR MT, Arc Infrastructure and above rail service providers to introduce cutting edge ‘Helix Dumper’ technology to the Port of Esperance.

With the added capacity that the ‘Helix Dumper’ technology can deliver, the Company considers that there is a real potential to facilitate increased trade through the Port of Esperance and to contribute to the future economic growth and job security for workers at the Port and in the Goldfields region.  Macarthur welcomes the opportunity to be part of that story and to contribute a positive legacy for the State of Western Australia.” 

Cadence Minerals Holding in Macarthur

Cadence holds approximately 2.2% 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.

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

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For further information:Cadence Minerals plc                                                   +44 (0) 7879 584153Andrew Suckling Kiran Morzaria   WH Ireland Limited (NOMAD & Broker)                                +44 (0) 207 220 1666James Joyce James Sinclair-Ford   Novum Securities Limited (Joint Broker)                                +44 (0) 207 399 9400Jon 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) (ASX: MIO) Moonshine Magnetite Resource Upgrade

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has presented an updated Mineral Resource estimate for the magnetite deposits at its Lake Giles Iron Project in Western Australia, which has been completed by CSA Global Pty Ltd (CSA Global).

Highlights:

  • RCR Mining Technologies (subsidiary of NRW Holdings ASX: NRH) appointed to examine rail unloading infrastructure solution at Esperance Port
  • Macarthur Minerals announces a resource upgrade for the Moonshine magnetite deposit at Lake Giles
  • Measured Mineral Resource of approximately 53.9 Mt and Indicated Mineral Resources of 218.7 Mt
  • Macarthur now has sufficient resources in the appropriate categories to progress its Feasibility Study
  • Resource upgrade follows recently announced Proposal for development of a Commercial Track Access Agreement received from Arc Infrastructure and the announcement of plans to develop haul road and rail siding infrastructure near Lake Giles

The previous Mineral Resource estimates presented to the market between 2009 and 2019 consisted entirely of Inferred resources, including 710 million tonnes (“Mt”) at the Moonshine deposits. During 2019 the Company completed a program of infill drilling across some of the Moonshine deposit to upgrade the Mineral Resource category to include Indicated and Measured resources.  The Mineral Resource upgrade has delivered sufficient resources in the appropriate categories to underpin the current Lake Giles Iron Project Feasibility Study.

The updated Mineral Resource estimates incorporate the recent drill assays and has resulted in an increase in the size of the Moonshine mineral resources including resource category upgrades to now include Measured and Indicated resources. Approximately 30% of the Moonshine resource is now classified as Indicated with approximately 7.5% classified in the Measured category.

Highlights of Mineral Resource estimates:

  • Measured resources of 53.9 Mt at 30.8% Fe head grade and 66.0% Fe DTR concentrate grade
  • Indicated resources of 218.7 Mt at 27.5% Fe head grade and 66.1% Fe DTR concentrate grade
  • Inferred resources of 997.0 Mt at 28.4% Fe head grade and 64.6% Fe DTR concentrate grade.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7494834321094164&qm_symbol=MMS

Macarthur President and Executive Chairman Cameron McCall commented: “The completion of the updated Mineral Resource estimate for Macarthur’s magnetite deposits at its Lake Giles Iron Project is a major milestone for the Company as it progresses its Feasibility Study.  The updated estimate includes an increase in the size of the Moonshine and Moonshine North Mineral Resource, with category upgrades including Measured and Indicated resources.

With a Measured Mineral Resource totalling 53.9 Mt and Indicated Mineral Resources of 218.7 Mt, Macarthur now has sufficient resources in the appropriate categories to progress its Feasibility Study.

Recent announcements concerning the Company’s applications to develop haul road and rail siding infrastructure near Lake Giles and the announcement that the Company has received a Proposal for development of a Commercial Track Access Agreement from Arc Infrastructure means that the Company is now edging closer than ever to making this Project real for shareholders. 

The Company’s Board and Management are singularly focused on progressing through the key gateways to deliver the Project to maximise the opportunities presented in the current commodity cycle.  With our focus now on the many more successes which need to follow, we have committed to a pathway of responsible, respectful and sustainable development.  These are the principles and points of difference upon which the Company will focus as an emerging Australian iron ore producer.  This is a great outcome for Macarthur and its shareholders.”

Cadence CEO Kiran Morzaria added: “This new updated Mineral Resource estimate for the magnetite deposits at Lake Giles marks an important development for Macarthur as an emerging Australian iron ore producer, and adds material value for shareholders. We look forward to further developments.”

Cadence Minerals Holding in Macarthur

Cadence holds approximately 2.2% 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.

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

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For further information:

Cadence Minerals plc                                                   +44 (0) 7879 584153
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) (ASX: MIO) engages RCR Mining Technologies on rail wagon and rail unloading solution for Lake Giles Iron Project.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) continues its progress towards a route to market for its flagship Moonshine magnetite deposits at Lake Giles, targeting a +65% Fe beneficiated magnetite concentrate, with the engagement of RCR Mining Technologies Pty Ltd (“RCR MT”) to provide a conceptual engineering and design solution for rail transport and unloading infrastructure of magnetite concentrate at the Port of Esperance. RCR MT has been engaged to examine the potential to use cutting-edge rail unloading technology that has been successfully used in Scandinavian magnetite operations for several years.

The engineering concept will employ a ‘Helix Dumper’ unloading system and Helix Dumper wagons owned and developed by Kiruna Wagon in Sweden. The Kiruna Wagon system has been successfully utilised in transporting magnetite concentrate from northern Sweden to the Port of Narvik in Norway. The system was developed specifically for magnetite concentrates to provide efficient discharge of sticky product at rates up to 25,000 tonnes per hour, and provides the potential to optimise productivity with several advantages over conventional rotary car dumpers, such as:

  • Lightweight wagons, increasing gross payload;
  • High-capacity continuous discharge, reducing operating costs;
  • The potential for lower capital cost;
  • The potential for lower operating cost with unloading powered only by the locomotive’s forward motion; and
  • Wagon body shape optimised for wet concentrates.

Macarthur is currently working with Southern Ports Authority on the potential to develop this system at the Port of Esperance, in addition to negotiating access to develop a storage shed for its magnetite concentrate.

If constructed, the system will be capable of handling tonnages well in excess of Macarthur’s immediate requirements for stage 1 of its Lake Giles Iron Project, providing the potential for increased trade through Esperance, subject to capacity elsewhere within the Port. Macarthur intends to work collaboratively with the Port to ensure that the footprint of the system and associated conveyor infrastructure (which would feed directly into the storage shed) can work in with existing operations at the Port and without adversely affecting other users.

RCR MT is a subsidiary of ASX listed NRW Holdings (ASX: NWH), a leading provider of diversified services to the mining, energy and civil infrastructure sectors. RCR MT is a market leader in the design and manufacture of an extensive range of surface and bulk materials handling equipment with a reputation for delivering high quality mining technologies nationally and internationally. RCR MT holds an exclusive license to develop the Helix system in Australia and in combination with Kiruna Wagon have the ability to manufacture both the dumper and wagons in Western Australia.

Macarthur’s route to market progress:

The Company announced on 25 June 2020 details of applications lodged for haul road and rail loading tenure which maps out a solution to transport magnetite from site to the existing rail network that connects to the Port of Esperance.

The Company announced on 15 July 2020 it had received a Proposal for development of a Commercial Track Access Agreement from Arc Infrastructure, the owner of the below-rail network

Macarthur President and Executive Chairman Cameron McCall commented: “This is another positive step forward for Macarthur’s Lake Giles Iron Project and demonstrates the tenacity with which Management is progressing this essential component of project delivery. The Company’s recent announcements concerning its applications to develop haul road and rail siding infrastructure near Lake Giles and that the Company had received a Proposal for development of a Commercial Track Access Agreement from Arc Infrastructure means that the Company is now edging closer than ever to delivering its route-to-market solution and making this Project real for shareholders. 

With this new cutting-edge rail unloading technology having the potential to contribute to increased trade through Esperance Port, this can only be good for future economic growth and job security in the region. Macarthur welcomes the opportunity to be part of that story and to contribute a positive legacy for the State of Western Australia and workers in the Goldfields region.”

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=8680452246719917&qm_symbol=MMS

Cadence Minerals Holding in Macarthur 

Cadence holds approximately 3% 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.

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) 7879 584153
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, ASX: MIO) Lake Giles Iron Project a step closer with Arc Infrastructure’s Proposal for Development of a Commercial Track Access Agreement.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) has received a Proposal that provides an agreed pathway to develop a Commercial Track Access Agreement (“Proposal”) from Arc Infrastructure (“Arc”)  for below rail capacity from its Lake Giles Iron Project in the Yilgarn Region of south-western Western Australia to the Port of Esperance.

Macarthur and Arc have worked collaboratively on the development of Arc’s Proposal, which is a material step forward in bringing Macarthur closer to securing a fully contracted route to market.  The Proposal will provide sufficient certainty to support Macarthur’s Feasibility Study for its Lake Giles Iron Project, as outlined in the Preliminary Economic Assessment Report which was prepared and released in June 2019.

Under the Proposal, the parties have agreed to work together in good faith to negotiate and agree the terms of a Commercial Track Access Agreement (“CTAA”) under which Arc would provide sufficient capacity on its Network to support the Macarthur task.  The Proposal also includes indicative track access pricing based on an agreed set of operational parameters that would be incorporated into the CTAA.

The successful development of the Lake Giles Iron Project and the export of its high grade magnetite through the Port of Esperance is fully supported by the Western Australian Branch of the Australian Rail, Tram and Bus Union (RTBU) and the Western Australian Branch of the Maritime Union of Australia (MUA).

In addition, the Company is continuing to progress discussions:

  • to secure an above rail haulage agreement;
  • to finalise arrangements for the design, development and funding of unloading infrastructure that will avoid current unloading infrastructure constraints at the Port of Esperance;
  • to secure rights to develop a 300kt iron ore storage shed and access ship-loader capacity at the Port.

Macarthur President and Executive Chairman Cameron McCall commented: “Today’s announcement is an important one for the Company. The Board considers that the Proposal received from Arc Infrastructure delivers the most substantial step forward for Macarthur in the last decade towards securing fully contracted train paths on the Kalgoorlie to Esperance rail line. 

The Company’s shareholders have been patient and loyal, investing in the vicinity of AUD80 million in the Lake Giles Iron Project to date. With a substantial body of exploration work undertaken, and analysis nearing completion to upgrade the magnetite resource to a measured and indicated category, it is pleasing to see that critical pieces of the infrastructure puzzle are also now finally starting to come together for Macarthur.

Following the recent announcement of the lodgement of applications to develop a haul road and rail siding near Lakes Giles, and with above rail discussions well progressed, Management will now turn its focus to furthering the Company’s engagement with Southern Ports to progress unloading infrastructure and ship-loader capacity options at the Port of Esperance. 

This is another positive step forward for Macarthur in what has been a prolific 12 months of important milestones for the Company.  We look forward to continuing our productive relationship with Arc as we move forward to delivering this important project for our shareholders and for Western Australia.”

 

The full release, along with comments from the RTBU and MUA can be found at: https://web.tmxmoney.com/article.php?newsid=7886775262297494&qm_symbol=MMS

Cadence Minerals Holding in Macarthur

Cadence holds approximately 3% 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.

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

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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, ASX: MIO) – Arrow Land Tenure Agreement and Applications Lodged for Haul Road and Rail Siding for Lake Giles Iron Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) has announced the completion of an agreement with Arrow Minerals Limited (ASX: AMD) (“Arrow”), for the grant of rights to apply for tenements which will support the development of infrastructure associated with a proposed magnetite processing circuit at Lake Giles.

Cadence also notes that on 25 June 2020, Macarthur lodged applications with the Department of Mines, Industry, Regulation and Safety (“DMIRS”) to develop a 93km haul road from its Lake Giles Iron Project to a proposed rail siding adjacent to the Perth to Kalgoorlie rail line in the Yilgarn region of Western Australia

Arrow Land Tenure Agreement

Pursuant to the Agreement, originally entered into in December 2019, (“Agreement”), Arrow will permit Macarthur to apply for and obtain a general purpose lease and a miscellaneous licence over a site within the boundary of Arrow’s exploration licences E30/393 and E30/394, to support the development of infrastructure associated with its planned magnetite processing circuit for its Lake Giles Iron Project (“Project”).  The substantial package of land covers approximately 4,950ha and is adjacent to the Moonshine magnetite deposit. The tenure will be used for constructing supporting infrastructure for the mine including a processing plant, camp, airstrip, tailings storage facility and waste rocks dumps.

The terms upon which Arrow agreed to permit Macarthur’s application included a cash payment of A$250,000 (paid in December 2019) (“Cash Payment”) and a share payment comprising the issue of Macarthur shares to Arrow to the value of A$250,000 (exclusive of GST) at an issue price per share equivalent to a 20% discount to the average VWAP of the shares trading on ASX for the 5 trading days preceding the issue date, and on which trades for the shares were recorded (“Share Payment”).  Macarthur made the Share Payment on 23 June 2020, resulting in the issue of 1,702,997 shares at an issue price of A$0.1468 per share.

The full Arrow Land Tenure release can be found at: https://web.tmxmoney.com/article.php?newsid=6417845063071316&qm_symbol=MMS

Road and Rail Links

Subject to obtaining required approvals and completion of construction, the proposed haul road and rail siding will provide optionality for the transport of iron ore by rail to either Esperance Port or the Port of Kwinana.

This key infrastructure is intended to support the development of Macarthur’s flagship Moonshine magnetite deposits at Lake Giles, targeting a +65% Fe beneficiated magnetite concentrate, and opens up the opportunity to exploit Direct Shipping Ore (“DSO”) from the Ularring hematite deposits.

In 2012, the Company completed a Pre-Feasibility Study for the mining of iron ore from its Ularring hematite deposits targeting a +60% Fe beneficiated fines sinter product. Given the current robust iron ore market, the Company is currently examining the opportunity to accelerate operations for the mining of DSO (as Stage 1) from its Ularring hematite deposits with the objective of generating early revenue flows. The development of new road and rail siding infrastructure has the potential to facilitate this, in addition to supporting the development of the Company’s flagship Moonshine magnetite resource (Stage 2) following completion of a successful Feasibility Study for the Lake Giles Iron Project which is currently being progressed.

The full Haul Road and Rail Siding Application release can be found at: https://web.tmxmoney.com/article.php?newsid=7029129052456326&qm_symbol=MMS

Macarthur President and Executive Chairman Cameron McCall commented: “The completion of the agreement with Arrow has secured the rights necessary to enable the design and location of critical inf rastructure associated with the magnetite processing plant which will be finalised as part of the Feasibility Study for the Lake Giles Iron Project.”

“Defining route-to-market infrastructure has been the core focus for the Company throughout 2020. Completion of the Lake Giles Iron Project Feasibility Study will require Macarthur to have engineering designs and tenure for a haul road from the Lake Giles Iron Project to a rail siding with access to the existing rail network. The proposed haul road and rail siding also creates the opportunity to support Stage 1 hematite mining operations at Lake Giles ahead of the commencement of Stage 2 commercial magnetite mining operations. The Board considers that advancing early-revenue generating operations would support re-rating of Macarthur as a producer and will complement the announced pathway for the development of its flagship high-grade Moonshine magnetite resource at Lake Giles.”

Cadence CEO Kiran Morzaria commented: “We are pleased to note that Macarthur is steadily advancing the Lake Giles Iron Project, and backed by a robust iron ore market is looking to accelerate operations for the mining of DSO. In our results announcement earlier today, our Chairman noted our ‘timely focus’ on iron ore opportunities. Certainly the developments announced today further validates our investment strategy, both in regard to a potential re-rating of Macarthur as a producer and into our own efforts in developing the Amapá iron ore project.”

Cadence Minerals Holding in Macarthur

Cadence holds approximately 3% 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.

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) 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) 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.

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.

 

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