Update - Macarthur Minerals

RNS Number : 7243G

Cadence Minerals PLC

05 March 2018

 

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Macarthur Minerals Update

2.6% Cobalt And 2.0% Nickel Discovered at Macarthur Minerals' Lake Giles Iron Ore Projects In Western Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to report that Macarthur Minerals Ltd (TSX-V: MMS) has provided an update on the potential for cobalt and nickel mineralisation at its Lake Giles Iron Ore Projects in Western Australia. A reconnaissance trip to the Project discovered surface rock samples containing the cobalt mineral asbolite with assays reporting up to 2.6% cobalt and 2.0% nickel.

Cadence has a 15.2% equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium, iron ore and gold in the Pilbara region of 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=8270986879897429&qm_symbol=MMS

Kiran Morzaria, Chief Executive Officer of Cadence, commented:

"As we have observed previously, this area is highly prospective for gold. Adjoining its three, existing tenement Exploration Licence Applications, we are pleased that Macarthur Minerals has now completed this enlargement of its exploration position in the region."

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For further information, please contact.
Cadence Minerals plc	[phone]
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)	[phone]
James Joyce
James Sinclair-Ford
Hannam & Partners LLP (Joint Broker)	[phone]
Neil Passmore
Giles Fitzpatrick
Square1 Consulting	[phone]
David Bick

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.

About Cadence Minerals:

Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale - upcoming supersized passenger vehicles, lorries and buses - require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With circa £20 million vested in key assets globally, Cadence is helping us reach tomorrow, today.

Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.

The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral's goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

 

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