KDNC RNS6 Aug 2019 17:13
TIDM: KDNC
RNS Number : 1418I
Cadence Minerals PLC
06 August 2019
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Macarthur Minerals (TSX-V: MMS) Joint Venture Partner FE Limited Identifies Areas of Prospectivity for Further Exploration in the Pilbara.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) ("Macarthur") that FE Limited ("FEL") has completed reconnaissance trips to several of Macarthur's lithium, gold and base metals projects in the Pilbara region of Western Australia.
FEL has reported that areas of prospectivity were identified in most of the tenements and rock chips were taken for initial tests (results pending). The results from the reconnaissance trips are detailed in the location map, photos and descriptions in the figures below.
Cadence Minerals Holding in Macarthur
Cadence holds approximately 9.8% 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.
About FE Limited
FE Limited (ASX: FEL) is a listed mineral exploration Company that holds or has rights or interests in various projects and tenements prospective for battery metals, copper, iron ore, gold and base metals located in Australia. The Company is focused on the exploration of battery metal projects. In March 2019, FEL entered into an agreement to acquire the Pippingarra Lithium Project and the Marble Bar Lithium Project (Project) from Mercury Resources Group Pty Ltd. These areas complement the tenement portfolio of Macarthur Minerals, establishing an 1800 square kilometre exploration footprint in the important Lithium and Gold region of Western Australia.
On May 14, 2019 Macarthur announced it had entered into an exclusive option agreement with FE Limited (ASX: FEL), for FEL to acquire an interest of up to 75% in the tenements held by Macarthur's wholly owned subsidiary Macarthur Lithium Pty Ltd ("MLi").
Mr Ian S Cooper, B.Sc., A.R.S.M., F.G.S. FAusIMM, a Fellow of the Australasian Institute of Mining and Metallurgy (membership number 107348), is a consultant of Macarthur and is a Qualified Person as defined in NI 43-101. Mr Cooper has reviewed and approved the technical information contained in the Macarthur news release.
The full release can be found at: https://web.tmxmoney.com/article.php?newsid=8779951354202610&qm_symbol=MMS
This news release is not for distribution to United States Services or for Dissemination in the United States.