Cadence Minerals Plc (LON: KDNC) (OTC: KDNCY) said its investee company Macarthur Minerals Limited (TSX-V: MMS) has announced that all tenements comprising the Hillside Gold Project in the Pilbara region of Western Australia have been granted.
Macarthur said twelve out of the company's sixteen Exploration Licences in the Pilbara covering circa 1,300km2 have now been granted allowing full exploration activities on those tenements for conglomerate gold, gold, and lithium.
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Kiran Morzaria, Cadence’s chief executive officer, commented: "As anticipated, the exploration licences in the Pilbara sought by Macarthur have been granted and we look forward to the exploration work commencing."
Cadence has a 15.2% equity interest in Macarthur, which is an Australian mining exploration company focused primarily on lithium, iron ore and gold in the Pilbara, and also has a lithium project in Nevada in the US.