Proactive Investors - Run By Investors For Investors

Cadence Minerals boosted by Macarthur Minerals Ltd breakthrough at Lake Giles

Macarthur unearthed positive rock samples at the Lake Giles.
Cadence owns 18% of Macarthur.

Cadence Minerals Plc (LON:KDNC) has relayed an update from part-owned associate Macarthur Minerals Ltd (CVE:MMS) regarding the Lake Giles iron ore projects in Western Australia.

Macarthur reported on a reconnaissance trip to the Lake Giles where it found surface rock samples containing the cobalt mineral asbolite, and it highlighted that assays included up to 2.6% cobalt and 2.0% nickel.

“The company has undertaken a comprehensive review of its previous drilling and soil sample assays and targeted several areas for on-ground exploration,” Macarthur executive chairman Cameron McCall said.

“Recent exploration was successful in collecting rock samples containing a significant concentration of cobalt and nickel.  The company is excited by this find that coincides with several targets derived from geophysical surveys.

He added: “The company is now in the process of undertaking further geophysical surveys across the area and several other targets identified in its review.”

Kiran Morzaria, Cadence chief executive, separately said: “As we have observed previously, this area is highly prospective for gold.

“Adjoining its three, existing tenement Exploration Licence Applications, we are pleased that Macarthur Minerals has now completed this enlargement of its exploration position in the region."

Cadence owns an 18% stake in Macarthur Minerals.

View full KDNC profile View Profile

Cadence Minerals Plc Timeline

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use