KDNC Cadence Minerals Plc

TIDMKDNC

RNS Number : 0003G

Cadence Minerals PLC

21 July 2021

Cadence Minerals Plc

("Cadence Minerals", "Cadence")

Macarthur Minerals (TSX-V: MMS, ASX: MIO) Lake Giles Feasibility Study Advancing under Steady Hand of Global Consultancy Stantec.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the "Company" or "Macarthur") has provided an update on the progress of the current Feasibility Study for the Company's flagship Lake Giles Iron Project.

The Company's lead consultant, Engenium now Stantec (Stantec), are advancing metallurgical process test work, process flow sheet development and key non-process infrastructure engineering design work for the Feasibility Study that is presently being undertaken on the Company's flagship high grade magnetite Lake Giles Iron Project in Western Australia.

Stantec's highly experienced metallurgical process consultant Mr Neville Dowson leads the metallurgical test work and development of the process flow sheet and engineering works for a metallurgical process plant design that will target delivery of a high grade +65% Fe magnetite concentrate. Under Stantec's guidance, metallurgical sample testing is underway in Perth utilising the expertise of Bureau Veritas (a world leader in inspection, resting and certification). The results of this test work will provide Stantec with the crucial outputs to complete the metallurgical process flow sheet engineering design work.

Stantec is a highly regarded global consultancy with extensive experience in the mining sector. Stantec's presence in Australia and Canada provides the perfect platform to deliver Macarthur's Feasibility Study to required standards for the Australian and Canadian markets. The Stantec team have considerable experience in the design of magnetite processing plants. Dr Richard Peck, Macarthur's magnetite processing subject matter expert is providing oversight on Stantec's process design, metallurgical test work programme and preparation of the process design criteria, flow diagram and mass balance.

Jose Granado, Stantec Country Leader for Australia commented: "We are proud to leverage our global expertise and passion for applying sustainable best practice to help advance the Lake Giles Iron Project. By continuing our partnership with Macarthur Minerals, we are ready to deliver a feasibility study that paves the way forward for this important project."

Macarthur Minerals CEO Andrew Bruton commented: "Following the onset of the Global Covid-19 pandemic early last year and throughout the balance of 2020, the Company has been steadily progressing the foundational work required to underpin the delivery of the study. Much of that work has focused on necessary background work to advance route to market concepts and delivery mechanisms. Although much of that work has not been visible to the market, it is essential.

The Feasibility Study is on track for delivery this year, and with the combined technical capabilities and experience of Stantec's team lead by Neville Dowson and Macarthur's highly experienced metallurgical consultant Dr Richard Peck and mining engineer Bernard Holtshousen, the Company has high expectations, and an equally high level of confidence, that the Feasibility Study will meet the expectations of the market.

Stantec's involvement in key areas will help bring the Feasibility Study in on time and within budget. We look forward to continuing to work with them through these final phases of delivery."

Link here for the full announcement: https://finance.yahoo.com/news/lake-giles-feasibility-study-lake-120000253.html

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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For further information: Cadence Minerals plc         +44 (0) 7879 584153 
  Andrew Suckling 
  Kiran Morzaria 
 
  WH Ireland Limited (NOMAD 
   & Broker)                   +44 (0) 207 220 1666 
  James Joyce 
  James Sinclair-Ford 
 
  Novum Securities Limited 
   (Joint Broker)              +44 (0) 207 399 9400 
  Jon Belliss 
 

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.

Forward-Looking Statements:

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July 21, 2021 06:33 ET (10:33 GMT)

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