Cadence Minerals PLC Yangibana Mineral Resource & Ore Reserves (1852S)
November 04 2019 - 8:03AM
UK Regulatory
TIDMKDNC
RNS Number : 1852S
Cadence Minerals PLC
04 November 2019
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Hastings Technology Metals (ASX: HAS) Announces revised Mineral
Resource and Ore Reserve Statement for the Yangibana Rare Earth
Project.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to
announce Hastings Technology Metals (ASX:HAS) ("Hastings"),
Cadence's joint venture partner at the Yangibana Rare Earth Project
in the Gascoyne region of Western Australia ("Yangibana" "Yangibana
Project"), has announced on the 31 October and 4 November 2019
revised Mineral Resource and Ore Reserve statements for the
Yangibana Rare Earth Project.
Cadence Minerals Yangibana Holding:
Cadence owns 30% of the Yangibana, Yangibana North, Gossan,
Hook, Kanes Gossan and Lions Ear Rare Earth Deposit, which form
part of the Yangibana Rare Earth Deposit. As a result of these
recent announcements Cadence joint venture tenements have the
following Ore Reserves and Mineral Resources.
Table 1 -Total JORC (2012) Ore Reserves November 2019 (100%)
Deposit M Tonnes % TREO % Nd(2) O(3)
+Pr(6) O(11)
Yangibana 0.10 0.78 0.28
--------- ------- --------------
Yangibana North 1.76 1.39 0.37
--------- ------- --------------
Total 1.86 1.36 0.37
--------- ------- --------------
Table 2 - Total JORC (2012) Mineral Resources October 2019
(100%)
Deposit Category M Tonnes % TREO % Nd(2) O(3)
+Pr(6) O(11)
Yangibana Indicated 0.16 0.78 0.39
----------- --------- ------- --------------
Inferred 0.07 0.85 0.42
----------------------- --------- ------- --------------
Yangibana
North Measured 0.5 1.42 0.36
----------- --------- ------- --------------
Indicated 3.6 1.4 0.36
----------------------- --------- ------- --------------
Inferred 0.5 1.45 0.37
----------------------- --------- ------- --------------
Others* Inferred 1.82 1.36 0.34
----------- --------- ------- --------------
*This includes Gossan, Hook, Kanes Gossan and Lion's Ear.
The full releases, including detailed summaries of ore reserves
and mineral resource changes can be found at:
https://www.asx.com.au/asxpdf/20191031/pdf/44b34bbqjb99yg.pdf &
https://www.asx.com.au/asxpdf/20191104/pdf/44b7swzfb3dv7n.pdf
Cadence CEO Kiran Morzaria commented: "Following the key
appointment of DRA Pacific in October, on behalf of myself and
Cadence Minerals we are delighted with these recent announcements
at Yangibana. Each step forward is providing solid validation for
our investment strategy into the Yangibana joint venture, and with
the project now firmly in development phase, we await further news
with great interest."
- 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
identi ed 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 re ect
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.
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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