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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) 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.
– Ends –
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.
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.