Cadence Minerals PLC Yangibana Rare Earth Joint Venture Update (0784J)
18 Agosto 2021 - 9:06AM
UK Regulatory
TIDMKDNC
RNS Number : 0784J
Cadence Minerals PLC
18 August 2021
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Yangibana Rare Earth Joint Venture Update
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) notes that Hastings
Technology Metals (ASX: HAS) ("Hastings") has announced that ore
sorting test work has confirmed its suitability within the
beneficiation process in delivering early gangue mineral rejection
and a significant upgrade of rare earths material prior to the
higher-cost processing steps across the Yangibana Rare Earths
Project ("Yangibana"), in Western Australia's Gascoyne region.
The ore sorting test results confirmed that the total rare earth
oxide (TREO) recovery through the ore sorter is a linear function,
where the lower the head grade, the higher the mass rejection
becomes. It is, therefore forecast, based on the average content of
alumina and silica for all Yangibana deposits, that 24% of the
proposed crusher feed will be rejected by the ore sorters as waste
at the expense of only 4% TREO volumes across the life of mine
schedule ("LOM").
Highlights:
-- 26% upgrade to the life of mine total rare earths oxide (TREO) grade.
-- 96% overall TREO recoveries after ore sorting.
-- 24% upfront mass rejection of primary crusher feed, resulting in:
o 24% reduction of beneficiation plant reagent consumption.
o 24% reduction in required tailings storage facility size for
the life of mine; and
o effective mitigation of the risk of mining dilution.
-- Ore sorting test work continues to validate the positive
impacts on the Yangibana process flowsheet:
-- Engineering development is progressing to incorporate the ore
sorting circuit into the beneficiation process flowsheet.
The variability test work program was completed testing 12
samples from across the Yangibana deposits. The performance of the
ore sorters is closely linked to head grade, resulting in LOM mass
rejection of 24% with a corresponding increase in average grade of
TREO content of 26%.
The full HAS release can be found at:
https://www.investi.com.au/api/announcements/has/3bb7e431-691.pdf
Relevance to Cadence Minerals Holdings in the Yangibana
Project:
Cadence is a 30% joint venture partner on 3 Mining Leases, 6
Exploration Licences of the Yangibana Project. Hastings is our 70%
joint venture partner on these assets and owns 100% of the
remaining portion of the Yangibana Project. Further detail on the
asset and the resources and reserves on our joint venture lands can
be found here
As stated in the Hastings announcement the effect of the results
of the ore sorting test work is forecast to have a positive effect
on the LOM. It is important to note, however, that currently a
definitive feasibility study in November 2017, does not include
Cadence's joint venture interests and in addition Hastings current
economic model does not include any costs or revenue ascribed to
the 30% interest in the deposits held by Cadence.
Therefore, to assess the effect of the improvements announced by
Hastings, we will have to await further updates which are specific
to our joint venture areas.
- Ends -
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:
Certain statements in this announcement are or may be deemed to
be forward-looking statements. Forward-looking statements are
identi ed by their use of terms and phrases such as" believe""
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or the negative of those variations or comparable expressions
including references to assumptions. These forward-looking
statements are not based on historical facts but rather on the
Directors' current expectations and assumptions regarding Cadence
Minerals Plc's future growth results of operations performance
future capital and other expenditures (including the amount. nature
and sources of funding thereof) competitive advantages business
prospects and opportunities. Such forward-looking statements re ect
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
discussed in the forward-looking statements including risks
associated with vulnerability to general economic and business
conditions competition environmental and other regulatory changes
actions by governmental authorities the availability of capital
markets reliance on key personnel uninsured and underinsured losses
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
forward-looking statements.
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