Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Macarthur Minerals (TSX-V: MMS) Appoints Drilling Contractor to Commence Drilling at the Moonshine Magnetite Project.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) ("Macarthur") that it has engaged Orbit Drilling Pty Ltd ("Orbit Drilling") to commence an infill drill program at its Moonshine Magnetite Project at Lake Giles ("Project") in the Yilgarn region of Western Australia.
Highlights:
· Macarthur has contracted Orbit Drilling to complete a 30 hole infill program at the Moonshine Magnetite Project.
· The drill program has been planned to upgrade the Inferred Mineral Resource estimate to a Measured Mineral Resource of approximately 100 million tonnes ("Mt") at the Project.
· Drill-hole planning was conducted by CSA Global Pty Ltd (CSA), Macarthur's independent geological consultants.
· The Measured Mineral Resource will underpin the bankable feasibility study ("BFS") of the Project to be completed in 2019.
Drilling Program
Macarthur states that the drilling program is designed to coincide with the BFS for the Project to be undertaken in 2019. Mining and processing studies will be based on Measured Mineral Resources to provide greater confidence in the outcomes of the study. The program aims to convert approximately 100 Mt of the Inferred Mineral Resource to a Measured Mineral Resource at the Moonshine deposit. Drill planning has been completed by CSA Global, who completed the early resource modelling and estimations for the Moonshine Magnetite Project.
The drilling program is also planned to obtain diamond core for the purpose of further metallurgical test-work. Diamond core is required for the BFS to refine the process flow design and provide greater understanding of ore variability. This metallurgical test-work program will commence mid-way through the drilling program as core becomes available.
Drilling is planned to commence in early May on receipt of required drilling permits, with an initial campaign of approximately 12 weeks.
Moonshine Magnetite Project
Macarthur states that the Moonshine Magnetite Project contains an Inferred Mineral Resource consisting of 1,316 Mt @ 30.1% Fe.
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.
