Cadence Minerals Plc (LON:KDNC) issued a stock market statement highlighting news from 12% owned Macarthur Minerals (CVE:MMS) which has identified three high priority nickel sulphide targets at the Lake Giles project in Western Australia.
It follows a recent geophysical survey that used moving loop electromagnetics, and, the targets are derived from previous drilling and soil geochemistry data.
"We are greatly encouraged by the progress and recent developments reported by Cameron McCall and the Macarthur Minerals team.
“Having already amassed a considerable historical dataset for Lake Giles, the new nickel sulphide targets announced today add further credence to the Macarthur Minerals investment case.
“We look forward to further updates once drilling commences."