Update - Macarthur Minerals

RNS Number : 1340S

Cadence Minerals PLC

28 September 2017

 

28 September 2017

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Macarthur Minerals announces First Deal on Conglomerate Gold with Artemis Resources in Pilbara Region, Western Australia

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce Macarthur Minerals ("Macarthur") has entered into a binding term sheet with ASX listed Artemis Resources Limited (ASX:ARV) ("Artemis") for Artemis to earn-in up to 80% interest in two of its tenements located 265km south-south-east of Karratha in the Pilbara Region of Western Australia. Artemis are specifically interested in the conglomerate gold potential of these 2 large tenements covering a total of 265km². 

Cadence has a 15.7% equity interest in Macarthur, which is an Australian mining exploration company focused on lithium and iron ore, primarily in the Pilbara region of Western Australia. It also has a lithium project in the USA.

The full release, including the term sheet between Macarthur Minerals and Artemis Resources, can be found at: https://web.tmxmoney.com/article.php?newsid=8163170931133927&qm_symbol=MMS

Kiran Morzaria, CEO of Cadence Mineral's commented:

"With the increasing interest for a potential "Witwatersrand" style gold mineralised system within the Pilbara region of Western Australia, the agreement between Artemis and Macarthur is a very positive move towards the exploration and development of some highly prospective ground.

Artemis along with Novo Resources have been developing Purdy's Reward Gold Prospect, which to date has yielded some exceptional results. It is thought the conglomerate sequence that the gold mineralisation is hosted in, is analogous to the Witwatersrand Basin in South Africa which has produced about one third of all the gold produced on earth"

Although it is early days in the development of this regional exploration target, it is encouraging that Artemis has decided earn into some of Macarthur's license applications, we look forward to hearing the progress that is made on these assets."

- Ends -

For further information, please contact.
Cadence Minerals plc	[phone]
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)	[phone]
James Joyce
James Bavister
Hannam & Partners LLP (Joint Broker)	[phone]
Neil Passmore
Giles Fitzpatrick
Square1 Consulting	[phone]
David Bick

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.

About Cadence Minerals:

Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale - upcoming supersized passenger vehicles, lorries and buses - require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With over £30 million vested in key assets globally, Cadence is helping us reach tomorrow, today.

Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.

The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral's goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

 

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