Cadence Minerals PLC Macarthur Lakes Giles Feasibility Study Progress
RNS Number : 3891J
Cadence Minerals PLC
23 August 2021
Cadence Minerals Plc
("Cadence Minerals", "Cadence")
Macarthur Minerals (TSX-V: MMS, ASX: MIO) Lake Giles Feasibility
Update - Feasibility Study closing in on delivery with key
consultant site visit 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.
-- Site visit conducted by Stantec engineers and consultants at Moonshine and Moonshine North.
-- Geotechnical drilling programme of works to support mine planning work continues at site.
-- Future site visit for Port of Esperance planned shortly.
-- Feasibility Study remains on track for delivery.
Last week, the Company's lead consultants (Stantec) visited
Moonshine and Moonshine North to undertake a formal site visit.
Stantec are advising the Company on the design of the process flow
sheet for the magnetite process plant, as well as on the
non-process infrastructure requirements for the Company's planned
high grade magnetite project in Western Australia.
The detailed visit to the project site, located approximately
115km west of Menzies in Western Australia, was conducted under
guidance by Company representatives and took in all relevant aspect
of the Lake Giles Iron Project that will be covered by the
Feasibility Study at the proposed mine site, as well as other areas
required for the development of key non-process infrastructure
(including transport logistics infrastructure such as the proposed
haul road and rail siding).
The previously announced geotechnical diamond core drill
programme at Moonshine and Moonshine North is continuing to
progress (see the 12 August 2021 announcement here ), and the
Company and its study consultants will shortly be undertaking a
separate site visit to the Port of Esperance to support the
engineering design works for on-port infrastructure that will also
inform capital and operating cost outputs for the Feasibility
Andrew Bruton, CEO of Macarthur Minerals commented: "Last week's
site visit is another important milestone in the development of the
Feasibility Study for Macarthur. The foundational work required to
underpin the delivery of the study will position Macarthur to
advance with the execution phase of the project. However,
engineering and design works must be married with reality, and in
order to deliver truly successful outcomes for future mining
operations, the teams responsible for assisting with delivery must
experience and understand the landscape and environment within
which the project will be developed. Properly examining and
experiencing the terrain and conditions will help underpin
realistic capital and operating cost assumptions and outputs for
the Feasibility Study. We are very encouraged by all the work
completed to date. The Study continues to progress within budget
and on schedule, and we look forward to updating the market with
the final results shortly. Walk with us and discover something
Link here for the full announcement:
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.
- Ends -
For further information: Cadence Minerals plc +44 (0) 7879 584153
WH Ireland Limited (NOMAD
& Broker) +44 (0) 207 220 1666
Novum Securities Limited
(Joint Broker) +44 (0) 207 399 9400
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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including references to assumptions. These forward-looking
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Directors' current expectations and assumptions regarding Cadence
Minerals Plc's future growth results of operations performance
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and sources of funding thereof) competitive advantages business
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the Directors' current beliefs and assumptions and are based on
information currently available to the Directors. Many factors
could cause actual results to differ materially from the results
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and other factors many of which are beyond the control of Cadence
Minerals Plc. Although any forward-looking statements contained in
this announcement are based upon what the Directors believe to be
reasonable assumptions. Cadence Minerals Plc cannot assure
investors that actual results will be consistent with such
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(END) Dow Jones Newswires
August 23, 2021 02:00 ET (06:00 GMT)
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