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Cadence Minerals: Macarthur Minerals defines gold exploration target at Bonnie Scot project

The AIM-listed miner said the results of stream sediment sampling had shown a geochemical cluster of anomalous gold up to 45.9 parts per billion

Gold nugget
The survey collected 53 stream sediment samples across the north western area of the tenement

Cadence Minerals PLC (LON:KDNC) said Macarthur Minerals (TSX-V:MMS), in which it holds a 12% interest, has completed the second phase of a stream sediment sampling program at its Bonnie Scot project in Western Australia.

The AIM-listed miner said the results of the programme has shown a geochemical cluster of anomalous gold up to 45.9 parts per billion (ppb) and were consistent with a previous survey.

READ: Cadence Minerals: Auroch Minerals expands footprint in South Australia

Cadence said Macarthur’s phase 1 sampling program, reported in June, had concentrated on the contact of the Mount Roe Basalt as a target for conglomerate-hosted gold, with the results identifying a gold anomaly distal to the contact zone and concentrated on the North Shaw Tonalite.

The phase 2 survey had collected a further 53 stream sediment samples across the north-western area of the tenement and had included follow-up sampling near the previously identified gold anomaly, with the latest results extending the anomalous zone by around 300 meters to the south and west with gold assays of up to 113 ppb.

Cadence added that the results from the programme supported the view that the north-west area of the tenement was prospective for gold, based on a historical rock chip sampling programme that had recorded values of up to 3.5 grams per tonne of gold.

In lunchtime trading Monday, shares in Cadence Minerals were up 1.4% at 0.1p.

Quick facts: Cadence Minerals PLC

Price: 8.175 GBX

AIM:KDNC
Market: AIM
Market Cap: £8.62 m
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