Update - Macarthur Minerals

RNS Number : 2601X

Cadence Minerals PLC

22 November 2017

 

Cadence Minerals Plc

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

Macarthur Minerals Update - Artemis Resources to commence exploration for conglomerate gold on Macarthur's Pilbara tenements  

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to report that Macarthur Minerals Limited (TSX-V: MMS) has announced that Artemis Resources Limited ("Artemis") is to commence exploration for conglomerate hosted gold at Macarthur Minerals' two licensed tenements in the Pilbara region of Western Australia, under an option agreement between the two companies announced last month.

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=4540167949465851&qm_symbol=MMS

Kiran Morzaria, Chief Executive Officer of Cadence, commented:

"The discovery of conglomerate hosted gold within the Pilbara region of Western Australia is opening up a potentially significant new gold province, the mineralisation is thought to be analogous to the Witwatersrand gold province in South Africa where approximately 1.6 billion ounces of gold have been mined. We look forward to hearing the progress of exploration on these tenements."

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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 over £25 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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