Last checked at 25 Aug 2021 15:58
Cadence Minerals Plc
("Cadence Minerals", "Cadence")
Macarthur Minerals (TSX-V: MMS, ASX: MIO) Lake Giles Feasibility Update - Feasibility Study key consultant site visit to Esperance Port completed.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the "Company" or "Macarthur") has announced that progress towards completion of the Feasibility Study for Macarthur's high grade magnetite Lake Giles Iron Project is continuing to build pace with a further site visit undertaken this week by its key consultants Stantec, at the Port of Esperance, to inspect the site and facilities.
Highlights:
This week, the Company's lead consultants (Stantec) visited the Port of Esperance to undertake a formal site visit. Stantec are advising the Company on the design of the non-process infrastructure requirements for the Company's planned high grade magnetite project in Western Australia, including the design and construction requirements for new rail unloading infrastructure and associated supporting infrastructure such as a planned 300kt storage shed.
The site visit at the Port of Esperance in Western Australia (located approximately 500 km south of the Company's high grade magnetite project at Lake Giles), was conducted under guidance by representatives of Southern Ports Authority. Macarthur management team representatives accompanied Stantec on the visit, which took in all relevant aspects of Esperance Port that will be necessary to support the engineering design works for on-port infrastructure that will also inform capital and operating cost outputs for the Feasibility Study.
The visit by the Stantec team to the Port of Esperance follows on from a detailed site visit that was completed by the Stantec team at Lake Giles last week (see 19 August 2021 announcement here). The previously announced geotechnical diamond core drill programme at Moonshine and Moonshine North is continuing to progress (see the 12 August 2021 announcement here).
Full Macarthur announcement here: https://finance.yahoo.com/news/lake-giles-feasibility-study-feasibility-120000191.html
Andrew Bruton, CEO of Macarthur Minerals commented: "This week's visit to the Port of Esperance is an important milestone in the development of the Feasibility Study for Macarthur. We are grateful to the Southern Ports Authority for facilitating the site visit and for extending their cooperation and assistance to the Macarthur and Stantec study teams. The site visit to the Port of Esperance will help inform engineering design works for potential new on-port infrastructure and will also help underpin realistic capital and operating cost assumptions and outputs for the Feasibility Study. We are pleased to be working with Stantec and the Southern Ports Authority. This week's positive and collaborative activity between our study team and our future partner at the Port brings us another week closer to the completion of the Feasibility Study."
Cadence Minerals Holding in Macarthur
Cadence holds approximately 1% 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.
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.
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