Cadence Minerals PLC Successful Bulk Ore Trial Results at Yangibana (5123U)
November 25 2019 - 4:28AM
UK Regulatory
TIDMKDNC
RNS Number : 5123U
Cadence Minerals PLC
25 November 2019
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Hastings Technology Metals (ASX: HAS) announces 95% Recovery of
Ore and 52% improvement in Head Grade from Bulk Ore Sorting
Trial.
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 successful completion of bulk sample
testing through an ore sorting circuit. These outstanding results
confirm earlier results from smaller drill core derived samples,
which were tested with two different ore sorter vendors.
Previous small-scale test work has shown that off-the-shelf
x-ray transmission (XRT) ore sorting technology could be applied to
separate out a barren waste stream from the ore. This presents an
opportunity to remove waste dilution material from the mining
process before the material is fed into the processing plant,
potentially resulting in energy and reagent savings in the
beneficiation circuit.
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. The updated Cadence ore
statement can be found on the Yangibana Mineral Resource & Ore
Reserve statement from 4(th) November 2019:
https://www.investegate.co.uk/cadence-minerals-plc--kdnc-/rns/yangibana-mineral-resource---ore-reserves/201911041303331852S/.
Highlights:
-- 95.1% recovery of contained Nd(2) O(3) +Pr(6) O(11) on 1.8 tonne sorted bulk sample.
-- 52% increase in head grade from 0.71% to 1.08% Nd(2) O(3) +Pr(6) O(11) .
-- 37.1% of the sample mass rejected from ore sorting testwork.
-- Standard commercial ore sorting technology, X-Ray
transmission (XRT), has proven to be extremely effective at
removing dilution on samples used in the testing programme.
-- Technical and engineering programs will continue to
investigate the operating scenarios where benefits can be realised
for the project.
The full release can be found at:
https://www.asx.com.au/asxpdf/20191125/pdf/44bxg9nh63v6kd.pdf
Hastings COO Andrew Reid commented: "The Yangibana orebody
continues to amaze us. Not only with its world-class ratios of
Nd(2) O(3) +Pr(6) O(11) , but now these results have confirmed that
ore sorting presents a real and future prospect to gain higher
operational efficiencies from the Yangibana Processing Plant."
Cadence CEO Kiran Morzaria commented: "This is another key step
for Yangibana, providing further ongoing validation for our
investment strategy into the joint venture. 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.
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END
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