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Cadence Minerals associate Macarthur encouraged by gold and copper indications in Pilbara

Surface rock samples from 1984 indicated gold of up to 111 grams per tonne and copper up to 3.2%

gold bar and data
Review of historic data has indicated a potential gold/copper bonus

Cadence Minerals PLC’s (LON:KDNC) associate Macarthur Minerals Ltd (CVE:MMS) has identified high grade gold and copper potential from a review of historical data at its Australian exploration licences.

Originally acquired by Macarthur for their lithium potential, surface rock samples from 1984 indicated gold of up to 111 grams per tonne and copper up to 3.2%.

READ: Cadence's investee company Auroch Minerals reveals encouraging sampling results from Tisová project in the Czech Republic

“The company is interested in attracting a farm-in partner to take these projects forward while we continue our focus on exploration of our lithium properties and moving our iron ore projects forward,” said David Tapln, Macarthur’s chief executive said in a statement.

The three licences, which are in the Pilbara region of Australia, have been explored before for gold, copper, zinc and lead but there has been little drilling, he added.

Cadence has a 20.3% stake in Canadian Venture Exchange-listed Macarthur.

READ: Cadence in talks to sell Bacanora stake, details funding update for Yangibana partner

Quick facts: Cadence Minerals PLC

Price: 13 GBX

Market: AIM
Market Cap: £18.23 m

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