MacArthur Minerals Ltd (MMSDF)

[Zeroze2002]

NO NEWS YOU SAY!>?

Alliance News

Cadence Minerals Says Macarthur Inks Earn-In Deal With Artemis
Thu, 28th Sep 2017 15:32

LONDON (Alliance News) - Cadence Minerals PLC on Thursday said Macarthur Minerals, in which it has a 16% stake, has inked a binding term sheet with Artemis Resources Ltd for an 80% earn-in for two of Macarthur's tenements in Western Australia.

Under the term sheet, Artemis can take an up to 80% stake in the two tenements in the Pilbara region covering a total of 256 kilometres squared.

Cadence noted that Artemis is specifically interested in the gold potential of the tenements.

"With the increasing interest for a potential 'Witwatersrand' style gold mineralised system within the Pilbara region of Western Australia, the agreement between Artemis and Macarthur is a very positive move towards the exploration and development of some highly prospective ground," said Cadence Chief Executive Officer Kiran Morzaria in a statement.

"Although it is early days in the development of this regional exploration target, it is encouraging that Artemis has decided earn into some of Macarthur's license applications, we look forward to hearing the progress that is made on these assets," Morzaria added.

Shares in Cadence were down 2.8% at 0.365 pence Thursday.

By Hana Stewart-Smith; [e-mail]; @HanaSSAllNews

Copyright 2017 Alliance News Limited. All Rights Reserved.

Alliance News