Cadence Minerals PLC Macarthur Lake Giles Assay Results Completed (0326M)
May 06 2020 - 2:00AM
UK Regulatory
TIDMKDNC
RNS Number : 0326M
Cadence Minerals PLC
06 May 2020
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Macarthur Minerals (TSX-V: MMS) announces that Assays have been
completed for infill drilling of the Lake Giles Iron Project.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note
that Macarthur Minerals (TSX-V: MMS) ("Macarthur") has recently
received the final XRF and Davis Tube Recovery (DTR) assays for the
infill drilling program completed at its Lake Giles Iron Project
near Kalgoorlie in Western Australia. The DTR assays confirm
significant intersections of magnetite mineralisation with DTR
concentrate grades up to 68.9% Fe.
Cadence Minerals Holding in Macarthur
Cadence holds approximately 4.1% 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:
Drilling at the Moonshine North deposit comprised 21 reverse
circulation (RC) holes for 3379 metres and 9 diamond drill (DD)
holes for 1676.2 metres, totalling 5055.2m. A weighted average DTR
concentrate grade of 66.6% Fe and weighted average mass recovery of
31.2% was recorded. A total of 25 holes were submitted for XRF and
DTR analysis.
Macarthur has now engaged CSA Global to complete an updated
resource model and classification.
The full release can be found at:
https://web.tmxmoney.com/article.php?newsid=5771056257152729&qm_symbol=MMS
Macarthur Executive Chairman Cameron McCall said; "The assay
results for the infill drilling confirmed good intersections of
magnetite. This has been a successful program, and these
intersections will form the basis of a revised mineral resource
estimate that will underpin the Feasibility Study. Macarthur has
been working hard on progressing key components of the Lake Giles
Iron Project, and is well underway in advancing discussions to
achieve a contracted position with port and rail service providers.
We look forward to informing investors about the outcomes of the
updated resource classification that is anticipated to include
Indicated and Measured Mineral Resources, and to further advising
on progress on the Company's march toward securing its route to
market."
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
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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END
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