Cadence Minerals (KDNC) – Progress at Macarthur Minerals Marble Bar Lithium Project Joint Venture

Cadence Minerals Plc (AIM/NEX: KDNC; OTC: KDNCY) is pleased to report that Macarthur Minerals in which Cadence currently owns a 20.3% shareholding, has announced it has identified a number of significant lithium bearing, spodumene and lepidolite mineralised pegmatites at its new Marble Bar Lithium Project Joint Venture in the Pilbara region of Western Australia.

The full Macarthur announcement can be found at: https://web.tmxmoney.com/article.php?newsid=5070928458276640&qm_symbol=MMS .

Results of Reconnaissance Sampling Program

Following a two-week reconnaissance mapping program, covering the Marble Bar Lithium Project’s tenements E45/4724 and E45/4669 (Figure 2), a number of samples from pegmatitic outcrops displayed significant lithium bearing signatures, as measured by handheld XRF, as well as visual confirmation of spodumene and lepidolite mineralisation. The previously identified pegmatite swarm was extended to the north and south by 6.3 km (Figure 1). Portable XRF results of the potassium-rubidium ratio (K/Rb) showed the pegmatites to be highly fractionated, which is consistent with pegmatites that host lithium bearing minerals.

In addition, the reconnaissance program identified a new area covering 1.5 km in length where the K/Rb ratio indicates highly fractionated pegmatites. Further sampling is warranted across this area. 

Sampling of previously mapped pegmatites confirmed lithium mineralisation with abundant spodumene and lepidolite observed. Measurement by portable XRF showed the pegmatites to be highly fractionated with 24 of 31 rock samples collected displaying K/Rb ratios less than 10 as well as highly anomalous values of indicator elements, rubidium and niobium.

A total of 187 rock and 112 soil samples have been dispatched to the laboratory for analysis and results will be reported as they become available.

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).