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Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Announces US$6m Financing to Complete Moonshine Magnetite and Ularring Hematite Iron Ore Bankable Feasibility Study.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) has announced the issuance of a private placement offering (the “Offering”) of up to US$6 million of secured Convertible Note (“Note”).
The proceeds from the offering will be used to complete a Bankable Feasibility Study (“BFS”) on Macarthur’s Moonshine Magnetite and Ularring Hematite iron ore deposits in Western Australia. The BFS will include a 54-hole drill program.
Macarthur owns 100% of the Moonshine Magnetite Project, with an Inferred and Indicated Mineral Resource Estimate consisting of 1,316 million tonnes (Mt) @ 30.1% Iron (Fe). Initial metallurgical test work from core at Moonshine indicated that a very high-grade iron ore product ranging from 68.5%-69.1% Fe, can be achieved as an export quality target.
The Inferred Mineral Resource estimate for the Moonshine Magnetite Project was initially prepared by CSA Global Pty Ltd (NI43-101 Technical Report filed December 17, 2009, titled “NI43-101 Technical Report on Lake Giles Iron Ore Project: Western Australia”) and was updated by Snowden Mining Industry Consultants (NI43-101 Technical Report filed March 25, 2011, titled “Macarthur Minerals Limited: Moonshine and Moonshine North Prospects, Lake Giles Iron Project, Western Australia, NI43-101 Technical Report – Preliminary Assessment”).
Macarthur also owns the Ularring Hematite Project, with a Mineral Resource Estimate consisting of Indicated 54.46 Mt @ 47.2% Fe and Inferred 25.99Mt @ 45.4% Fe, previously announced on August 16, 2012 (NI 43-101 Technical Report filed October 1, 2012, titled “NI 43-101 Report, Macarthur Minerals Limited, Pre-Feasibility Study, Ularring Hematite Project, Western Australia”). The Pre-feasibility Study focused on utilising all Probable Mineral Reserve of 42.95Mt @ 47% Fe hematite, producing a 60.1% Fe sinter fines product.
Cadence holds approximately 10% 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.
The full release can be found at: https://web.tmxmoney.com/article.php?newsid=6810804576807869&qm_symbol=MMS
Cadence Minerals CEO Kiran Morzaria commented: “As a major shareholder in the Company, Cadence Minerals are delighted that Macarthur Minerals has seized the initiative to progress the Moonshine Magnetite and Ularring Hematite Iron Ore projects with a US$6m offering. Existing data indicates solid potential for a quality iron ore product at both projects.” 
“To quote Macarthur CEO Cameron McCall: ‘what makes this project unique is the close proximity to existing under-utilized rail and port infrastructure. The recent disruption in supply in the iron ore market creates a market that is seeking high grade low impurity products, and the Moonshine Magnetite product is ideally suited to fill this supply void and to meet this shift in product preference by the major Chinese and global markets.’ In summary, we at Cadence believe that securing funding at this juncture further strengthens the Macarthur investment proposition.”
This news release is not for distribution to United States Services or for Dissemination in the United States.
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For further information:
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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 identified 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 reflect 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.
ECR Minerals PLC’s (LON:ECR) new non-executive director Sam Garrett speaks to Proactive London’s Andrew Scott
ECR Minerals looking to replicate Havieron success at Windidda project in Yilgarn region, Western Australia
Proactive London’s Andrew Scott speaks to ECR Minerals PLC‘s (LON:ECR) new non-executive director Sam Garrett.
Garrett’s a geologist with experience in multi-national and junior mining firms and was one of the first to identify the potential of the Havieron project in Western Australia which was later acquired by Greatland Gold PLC (LON:GGP).
Havieron and Greatland have been in the headlines this week following the significant joint venture news with Newcrest Mining LTD (ASX:NCM).
Garrett says he’s now looking to replicate that success within ECR’s portfolio.
New lithium hydroxide factory in Western Australia wins federal approval – Via the Guardian
Plant set to boost local jobs and supply growing global demand for lithium, which is used in renewable energy storage
Earthworks for a new lithium hydroxide factory in Western Australia are expected to begin this month after the $1bn project received federal environmental approval.
The plant owned by the world’s largest lithium producer, the US chemical company Albemarle, was approved by the WA government in October and is estimated to create up to 500 jobs in construction, with another 100 to 500 operational jobs once it is operational.
Australia’s trade minister, Simon Birmingham, said the plant would provide a much-needed local jobs boost and supply a growing global demand for lithium, which is used in renewable energy storage.
“This is a welcome investment and vote of confidence in our local lithium industry that will help attract further investment into the future,” Birmingham said.
Albemarle announced on Thursday that earthworks at the site at Kemerton Strategic Industrial Estate, just north of Bunbury, were on track to begin soon.
“Achieving this milestone underscores our commitment and confidence in developing LiOH [lithium hydroxide] operations and in our overall strategy to drive significant shareholder value and meet our customers’ demands,” said Eric Norris, the president of Albemarle’s lithium division.
The plant will process spodumene ore from the Greenbushes lithium mine, about 90km south of the industrial estate, and produce 60,000 tonnes of lithium hydroxide annually with capacity to expand to 100,000 tonnes.
It will also produce a byproduct of up to 200,000 tonnes of sodium sulfate, and a million tonnes of tailings per annum.
The company has been ordered to identify a new breeding and foraging habitat for WA’s three threatened black cockatoo species – Carnaby’s cockatoo, Forest red-tailed cockatoo, and Baudin’s black cockatoo – to offset habitat lost by clearing the 89ha plant site, including 54ha of coastal plain vegetation that is home to a number of threatened native orchids.
The director of the Conservation Council of Western Australia, Piers Verstegen, said the environmental impacts of the project were “manageable”.
“We think on the whole it’s a positive development for the south-west and one that could provide an alternative source of employment to the coal-based jobs in Collie,” Verstegen said.
Collie, about 70km east of Bunbury, is home to four of WA’s five coal-fired power stations, fed by two open-cut coalmines.
The Albemarle plan will run on gas, but Verstegen said he hoped the company would look into running it on renewable power.
WA is the world’s largest producer of lithium, and the plant at Kemerton is the second significant lithium hydroxide manufacturing plant approved in the state since 2016.
The state established a task force aimed at promoting the lithium industry last year, and the premier, Mark McGowan, met with the directors of Albemarle on a trip to Washington DC in February.
By the Guardian
Hallgarten & Company produce Initiation of Coverage Research Report for ECR Minerals
ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce that Hallgarten & Company have produced an Initiation of Coverage report on the Company.
The report, which has been compiled using publically available information, is available on the Company’s website through the following link:
https://www.ecrminerals.com/investors-media/research-notes/download?path=ECR_Feb2019.pdf
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0)20 7929 1010 | |
| David Tang, Non-Executive Chairman | ||
| Craig Brown, Director & CEO | ||
|
Email:
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| Website: www.ecrminerals.com | ||
| WH Ireland Ltd | Tel: +44 (0)161 832 2174 | |
| Nominated Adviser | ||
| Katy Mitchell/James Sinclair-Ford | ||
| SI Capital Ltd | Tel: +44 (0)1483 413500 | |
| Broker | ||
| Nick Emerson |
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Limited has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia and the Windidda Gold Project in the Yilgarn Region, Western Australia.
ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.
ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.
Central Victoria gold rush revival continues as ECR Minerals applies for licensing at an additional four sites following Newmont’s application a few weeks ago.
- Newmont Mining and ECR Minerals join Central Victoria gold rush revival
- Fosterville mine in Victoria expected to break production record
- Untouched potential in Victoria
- ECR Minerals fully funded through to June 2020 following strategic financing round
In recents weeks it was revealed that world’s second largest gold producer Newmont Mining (NYSE:NEM) had applied for the licensing of a large area of land in Victoria, bordering ECR Minerals (AIM:ECR) Bailieston and Moormbool gold projects.
ECR have responded by announcing four new license applications that will expand two of their existing holdings in the Victoria region. These include three strategically placed sites in the Bailieston/Moormbool project area which lie south and south west of the area Newmont recently applied for. It also includes an area that will expand the highly promising Creswick project over a southern portion of the Dimocks Main Shale (DMS) – which is believed to sit between two historically significant mining areas, estimated to have produced 15 million ounces of gold.
For ECR, Newmont’s application to move in next door was without a doubt further encouragement of the huge potential of their existing sites and appears to have encouraged them to move fast and extend licensing in strategic areas in the Victoria region.
ECR CEO Craig Brown said that the application submitted by Newmont bordering Bailieston and Moormbool gold projects “is an important ratification of our strategic Australian gold positioning.”
The presence of Newmont certainly adds weight to the potential prospectivity of the area. Brown added that ECR’s exploration work at Bailieston “has recently demonstrated gold prospectivity as highlighted by the results of our Bailieston sampling programme announced on 28 September 2018 with gold grades up to 67.4g/t.”
Victoria Gold Rush Revival
While the licenses all remain pending, the moves support what appears to be a highly promising revival for gold mining in the Victoria region.
Early this year Melbourne Mining Club chairman Richard Morrow told the The Australian Mining Review “The success of Kirkland Lake Gold at Fosterville has really lifted the profile of Victoria as a place to find gold, especially high-grade, underground mineable gold” (Australian Mining Review). The statement came after an estimated 1.7 million ounces worth approximately $2.85 billion was discovered at the mine in 2017 (Premier).
In November, Kirkland Lake Gold revealed the Fosterville mine located just 30km away from ECR’s Bailieston project had produced “exceptionally high grades”, with the mill grade in Q4
2018 averaging over 35.0 grams per tonne. Fosterville is now expected to break its own record quarterly production in the fourth quarter of 2018, pushing full-year predictions up to 330,000 ounces (Mining.com). Beyond this, it expects to achieve over 500,000 ounces per year by 2020.
Fostervilles ongoing success and the latest applications from ECR and Newmont certainly seem to support Richard Morrow’s statement. If accepted they will continue to push Victoria back into the spotlight amongst gold miners – a position it’s not held since the famous Victoria gold rush in the early 1850s.
Untouched potential in Victoria area
The 1850’s gold rush saw production skyrocket in Victoria as thousands of miners moved to the area after strong mineralisation was discovered in Ballarat in 1851. Levels were so significant that for a number of years gold output in Victoria exceeded that seen anywhere else in the world, bar the more extensive fields of California. Victoria’s greatest yield for one year was in 1856, when 3,053,744 troy ounces of gold were extracted.
However, by the early 1860s most diggers had moved North to New South Wales, then Queensland and across to Western Australia (WA), which now produces the majority of Australia’s gold. Despite this short period of extensive mining the state has still produced over 2,400 tonnes of gold or 32 percent of all the gold mined in Australia and 2 per cent of all the gold ever mined in the world. While WA has produced more, with 3,275.8 tonnes, much of this has been thanks to the booms of the last two decades where new technology has enhanced the discovery and extraction of gold.
WA has also undergone six separate development phases since the 1890s compared to Victoria’s initial rush in the 1850s as well as its current phase. However, contrasted on a yield per area basis, Victoria has an order of magnitude greater than any other Australian state producing an average of 10.8kg of gold / km2. Generating these significant levels of gold in such a period of time, without much of today’s technology would suggest the area remains full of potential – as the recent reports from Fosterville and ECR suggest.
If the old saying ‘the best place to find gold is in the shadow of the headframe of an old mine’ holds true then ECR are ideally placed to make the most of this golden opportunity. As well as Bailieston, they have licences granted in Avoca (EL5387), Timor (EL6278), Moormbool (EL6280) and Creswick (EL6184). As seen on the map above, all of these projects lie within close, if not direct proximity to historical sites known for significant levels of gold mining since the 1850s. These include; Ballarat, which ‘at its peak between 1852-1853 was recognised as probably the richest alluvial goldfield in the world, the Mt Alexander field at Castlemaine which in December 1851 was yielding 23,000 oz of gold a week, Creswick as already highlighted, as well as, Maryborough and Maldon (Earth Resources).
ECR Minerals fully funded through to June 2020
ECR has kicked off 2019 in style, signalling it’s ambitions to become a major Australia gold explorer with the announcement on January 2nd 2019 that it has applied for nine new exploration licences in an area called the Windidda gold project in Yilgarn, Western Australia. The Yilgarn Craton contains evidence of the oldest crust on Earth, and at almost 4km long, 1.5km wide and 500m deep, it’s world-famous Super Pit produces up to 800,000 ounces of gold per year alone.
There appears to be an overwhelming tide of evidence, both current and historical supporting further exploration and development at Central Victoria. While the Newmonts and Fostervilles will continue exploration and production at their own rate, based on the recent reports of high yields and strong yield per area results, it is ECR Minerals with 5 licensed sites and a host of additional plots pending that could be the investment opportunity of the century, and in pole position to capitalise on the untouched potential of Central Victoria. Clearly investors and shareholders think so too: ECR announced a strategic financing round, which together with warrants and shares totalling GBP1.77m will see the company fully funded to pursue operations through to June 2020. Directors Craig Brown and David Tang
both participated in the financing round. Either way, ECR investors could be sitting on a gold mine in the not so distant future.
By Harry Dacres-Dixon
References:
Australian Mining Review – http://australianminingreview.com.au/mining-in-victoria-good-as-gold/
Brand Communications – http://www.branduk.net/ecr-minerals-ecr-new-licence-applications-australian-gold-portfolio/
Earth Resources – http://earthresources.vic.gov.au/earth-resources/geology-of-victoria/exhibitions-and-Imagery/ history-mining-victoria
Mining.com – http://www.mining.com/kirkland-lake-golds-aussie-operation-breaks-production-record/ Premier – https://www.premier.vic.gov.au/bendigos-billion-dollar-gold-rush/
Value the markets – http://www.valuethemarkets.com/index.php/2018/11/15/exclusive-newmont-mining-secures-li cense-area-next-ecr-minerals-baileston-gold-project/
Geology for Investors – https://www.geologyforinvestors.com/gold-archean-greenstone-belts/
Kirkland Lake Gold – https://www.klgold.com/news-and-media/news-releases/default.aspx
Other companies http://kzr.com.au/wp-content/uploads/austocks/kzr/2018_06_20_KZR_1529488920.pdf
ECR Minerals (ECR) – Strategic Gold Licence Applications – Yilgarn Region Australia
ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce that the Company has submitted nine new exploration licence applications covering a package of ground prospective for gold mineralisation in the Yilgarn region of Western Australia.
The application package is to be called the Windidda gold project and will, when granted, complement ECR’s existing extensive gold exploration portfolio in the state of Victoria, Australia.
Highlights:
- Nine new exploration licence applications have been lodged in Western Australia by ECR’s 100% owned Australian operating vehicle Mercator Gold Australia Pty Ltd, covering 523 graticular blocks representing approximately 1,600 square kilometres of the Yilgarn Craton east of the town of Wiluna;
- The application areas have been identified as a potential greenstone hosted orogenic gold exploration opportunity with significant potential to contain Archaean greenstones buried beneath what it is believed may be shallow cover. Archaean greenstones host many of Western Australia and the world’s most prolific gold deposits;
- Previous exploration within the project area has targeted base metal and manganese deposits within the cover sequences. Gravity and magnetic anomalies interpreted to be hosted in greenstone units beneath the cover have not been targeted;
- Target areas are expected to be amenable to aircore drilling across gravity-magnetic anomaly targets to enable rapid assessment of potential for gold mineralisation;
- Licence applications cover a significant proportion of an identified gravity-magnetic trend with known gold prospects along trend in outcropping greenstone to the south (not ECR ground);
- The under-cover greenstone gold exploration model has been successfully tested by Greatland Gold (LON:GGP) at their Ernest Giles project located approximately 125 kilometres east of ECR’s Windidda Project;
- Further information to follow in respect of the application area and the exploration potential of the Windidda Gold Project;
- In addition to the Windidda applications, ECR has an extensive pipeline of potential new opportunities, some of which are under due diligence review. Further updates will be provided to the market as and when material developments occur.
Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am particularly pleased to announce this strategic move into Western Australia, which, like Victoria, has exceptional gold exploration potential in a first world operating environment.
Greenstone-hosted gold trends in the Western Australian Yilgarn province are very tightly held and access to free ground, when it becomes available, is highly competitive. So it is very encouraging that ECR has managed to compile a large land position of contiguous tenements covering untested gravity-magnetic anomalies representative of potential greenstone-hosted gold trends.
The funds secured by ECR in the strategic financings of July and December 2018 have enabled us to continue engaging aggressively with potential new initiatives, the Windidda project being one.
We are acquiring new ground in Australia at a time when many explorers and developers are financially weakened by market conditions. This, although unfortunate for the wider resource sector, is presenting ECR with multiple highly attractive options, and we intend to take full advantage.
Our work continues at pace and I look forward to updating our shareholders further with additional new developments in the near term.”
COMPETENT PERSON STATEMENT
Information disclosed in this announcement has been reviewed by Samuel Garrett, a Competent Person within the meaning of Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and for the purposes of the AIM Rules.
Mr Garrett holds a BSc (Hons) in Geology and an MSc in Economic Geology from the University of Tasmania. He is a member of the Australian Institute of Geoscientists and a member of the Society of Economic Geologists (USA).
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0)20 7929 1010 | ||
| David Tang, Non-Executive Chairman | |||
| Craig Brown, Director & CEO | |||
| Email: | |||
| Website: www.ecrminerals.com | |||
| WH Ireland Ltd | Tel: +44 (0)161 832 2174 | ||
| Nominated Adviser | |||
| Katy Mitchell/James Sinclair-Ford | |||
| SI Capital Ltd | Tel: +44 (0)1483 413500 | ||
| Broker | |||
| Nick Emerson | |||
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.
ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.
ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.
Cadence Minerals #KDNC – Macarthur Minerals TSX-V: #MMS identifies 18 High Priority Conductors for Gold at Hillside Gold Project in Pilbara, W Australia
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (“Macarthur”, TSX-V: MMS) has identified 18 High Priority Conductors for Gold from its recent heliborne SkyTEM electromagnetic survey at the Hillside Gold Project in Pilbara, Western Australia. The discovery also includes two isolated discrete bedrock conductors. Macarthur has confirmed that all anomalies correlate with historic gold workings, surface copper and gold geochemical anomalies, magnetic anomalies or fault systems.
Highlights:
- The heliborne SkyTEM survey was flown over 846 line-kilometres at 150m-line spacing covering a total area of 127 km2.Data was captured across two disjunct areas; Area 1 in the north covering 76 km2 and Area 2 in the south covering 51 km2.
- Data was processed by geophysicists at Newexco Services Pty Ltd. All observed anomalies were ranked against multiple criteria with a total of 18 anomalies considered to be high priority for follow-up in the field and consideration as a drill target.
- Area 1 of the Aerial Electronic Magnetic (“AEM”) results showed a series of stratigraphic conductors running north-south along the eastern flank of the survey area.
- Area 2 shows a prominent stratigraphic conductor running along the western side of the survey area, and also contains two discrete conductors central to the survey area. These conductors are interpreted as being “isolated” and may be sources by confined bedrock conductors, which in some cases can be associated with massive sulphide accumulations such as gold and copper.
- The two discrete conductors are considered likely to be associated with volcanogenic massive sulphide (“VMS”) style copper-gold mineralization and hence are high priority targets. Previously recorded gold and copper anomalies and gold workings lie directly to the north and south along strike of these discrete anomalies. It is speculated that the two discrete conductors could host similar deposits at depth, VMS style.
The identified multiple outstanding anomalies identified will require follow-up exploration in the field. Geological mapping and geochemical sampling will be undertaken across these target areas, followed by drilling of selected targets.
Cadence holds approximately 12% of the issued 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=8631055666624229&qm_symbol=MMS
Cadence Minerals CEO Kiran Morzaria commented:“The dataset recorded from the SkyTEM electromagnetic survey proves that the right geology exists at the Hillside Gold Project, and adds further credence to the project economics for Cameron McCall and the Macarthur Minerals team.”
“From the Cadence Minerals perspective, the update today significantly improves the investment case, and we look forward to the next phase of developments.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information:
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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.
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 achievinghigh 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 keymarketing, 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.
Forward-LookingStatements:
Certain statements in this announcement are or may be deemed to be forward-lookingstatements. Forward-lookingstatements are identified 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-lookingstatements reflect 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 keypersonnel 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-lookingstatements.
Cadence Minerals (KDNC) – Macarthur Minerals (TSX-V: MMS) Identifies Multiple Priority Metal Sulphide Targets at Lake Giles.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (“Macarthur”, TSX-V: MMS) has identified three high priority nickel sulphide targets at Macarthur’s Lake Giles project in Western Australia. The targets were derived from a recent geophysical survey using Moving Loop Electromagnetics (“MLEM”). Surveying at Moonshine successfully delineated two bedrock conductors, MC01 and MC02, with a further bedrock conductor identified at the Snark prospect.
Highlights:
- A Moving Loop Electromagnetic (“MLEM”) survey was conducted across three prospects at the Lake Giles project. The survey targets were derived from previous drilling and soil geochemistry data that indicated potential for nickel sulphide. A follow-up Fixed Loop Electromagnetic (“FLEM”) survey was conducted at the southern extent of the Snark MLEM survey.
- Interpretation of data was undertaken by geophysicists from Newexco who are experts in the application of geophysical surveys for the discovery of nickel sulphide deposits.
- The survey at Moonshine was conducted over an area of 60 ha. Strong conductance was recorded across all five lines with modelling delineating two bedrock conductors, MC01 and MC02.
- The MLEM survey at Snark covered an area of 310 ha. The survey identified two bedrock conductors at Snark, SC01 and SC02.
- Conductors MC01 at Moonshine and SC01 at Snark are considered high priority targets and will be tested by drilling. Newexco has planned two drill holes to intersect the conductors at the point where they display a high EM response.
- An initial program of two holes drilled to a depth of 200m will be commenced upon receipt of drilling permits.
Cadence holds approximately 12% of the issued 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 the lithium project in Nevada, USA.
The full release can be found at:
https://web.tmxmoney.com/article.php?newsid=7121766067912823&qm_symbol=MM
Cadence Minerals CEO Kiran Morzaria commented: “We are greatly encouraged by the progress and recent developments reported by Cameron McCall and the Macarthur Minerals team. Having already amassed a considerable historical dataset for Lake Giles, the new nickel sulphide targets announced today add further credence to the Macarthur Minerals investment case. We look forward to further updates once drilling commences.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information:
|
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.
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.
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.
Forward-Looking Statements:
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified 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 reflect 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.
Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) Acquires New Pilbara Tenement with Historic Base Metal Mineralisation Identified
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (“Macarthur”, TSX-V: MMS) has applied for an Exploration Licence in close proximity to its Macarthur’s Tambourah Lithium Project in the Pilbara Region of Western Australia. A review of historical data indicates the area is prospective for nickel-copper-cobalt and platinum group element (“PGE”) mineralization.
Highlights:
- The newly acquired tenement is ideally situated adjacent to the Company’s Exploration Licences E45/4848 and E45/4702, which comprise the Tambourah Lithium Project.
- The tenement is also in close proximity to West Wits Mining Limited’s Tambina Creek Gold Project where previous exploration reported rock chip samples up to 4.7g/t Au and costean trenching returning 5.7 g/t Au over four meters.
- The tenement also lies approximately 45 km South of Venturex Resources Limited’s Sulphur Springs and Kangaroo Caves Cu-Zn volcanogenic massive sulphide Deposits.
- The tenement sits in the East Pilbara Granite–Greenstone Terrain of the Pilbara Craton, a setting that has been defined prospective for VMS style mineralization.
- The Company recently completed a review of historical data, including a geochemical soil and rock chip sampling program undertaken between 2007 and 2008 Haddington Resources Limited and considers the area to be prospective for nickel-copper-cobalt and PGE minerals.
- The collective geochem anomalies and drill hole results provide several targets worthy of further exploration. Further close spaced geochemical sampling is required along these structures and will be undertaken on grant of the Exploration Licence.
Cadence holds approximately 12% of the issued 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 the lithium project in Nevada, USA.
The full release can be found at:
https://web.tmxmoney.com/article.php?newsid=7442587847068332&qm_symbol=MMS
Cadence Minerals CEO Kiran Morzaria commented: “Macarthur Minerals already has a sizeable land package of 1,328 km2 in the Pilbara area which is highly prospective for conventional gold and conglomerate gold deposits. The company’s Tambourah Lithium Project has already yielded promising rock chip results up to 1.47% LiO2, so the addition of a new tenement with a solid exploration pedigree in our view further enhances the Macarthur Minerals investment case. We look forward to further updates from Cameron McCall and the Macarthur Minerals team.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information:
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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 £15 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.
Forward-Looking Statements:
Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified 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 reflect 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.
Cadence Minerals (KDNC): Macarthur Minerals (TSX-V: MMS) Lists on OTCQB and Comments on Iron Ore Price Surge.
21st February 2019 / Leave a comment
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) today announced that it has joined the OTC marketplace, OTCQB. The OTCQB Venture Market offers the benefits of being publicly traded in the United States to expand Macarthur’s access to investors, engage them with quality disclosure of financials and provide trading transparency to stimulate liquidity. Investors can find current financial disclosure and Real-Time level 2 quote for Macarthur on www.otcmarkets.com. Macarthur trades in the United States on OTCQB under the symbol “MMSDF”.
Cameron McCall, Chairman of Macarthur Minerals. Mr. McCall said:
“Global Markets have recently seen iron ore prices surge dramatically on the reduced supply as a result of the shutdowns and disasters that have occurred in Brazil, a leading producer of Iron Ore. states aWith continued demand and a significant supply reduction Macarthur is well positioned to advance the Ularring Hematite and Moonshine Magnetite Projects located 175km northwest of Kalgoorlie, Western Australia into production in a timely manner.”
The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7965805934807637&qm_symbol=MMS
Cadence holds approximately 10% 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.
Cadence Minerals CEO Kiran Morzaria commented: “On behalf of Cadence Minerals, we fully support the move by Macarthur to list on the OTCQB and thereby expand its investor reach. In addition, the reduction in iron ore supply and consequential surge in price further strengthens the Macarthur investment proposition.”
This news release is not for distribution to United States Services or for Dissemination in the United States.
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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 identified 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 reflect 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.