Cadence Minerals Plc
("Cadence Minerals", "Cadence")
Macarthur Minerals (TSX-V: MMS, ASX: MIO) Lake Giles Feasibility Study Update. Macarthur to commence geotechnical drill programme at Moonshine to support mine planning for flagship magnetite project.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the "Company" or "Macarthur") has announced that it is about to commence a geotechnical drilling campaign to support mine planning work being undertaken as part of the current Feasibility Study for its flagship Lake Giles Iron Project in the Yilgarn region of
The drill programme is planned to commence during July and will involve the drilling of 8 diamond core holes for a total depth of 1560m, with varying depths of between 175 to 230m each.
The drill programme will be undertaken as efficiently as possible and is expected to take between 6 to 8 weeks to complete.
An image accompanying this announcement showing the planned geotechnical holes at the Lake Giles Iron Project preliminary layout is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c0def0e3-a8f6-47ed-bb00-eb689b97cc27
Macarthur Minerals CEO Andrew Bruton commented: "This important phase of drilling work will provide information targeting the footwall and the hanging wall of the main pits for the first phase of magnetite mining operations at Moonshine and will be used to support mine planning work being undertaken by Orelogy Mine Consulting and Pells Sullivan Meynink ("PSM") as part of Macarthur's current Feasibility Study for our flagship, high grade magnetite Lake Giles Iron Project.
The scheduling of the drill programme aligns with the Company's expectations for delivery of the Feasibility Study. The mobilisation of the drill crew and equipment on site will commence shortly and we look forward to keeping investors updated on the progress of this work over the course of the next few months."
Link here to view the full announcement and drill hole detail:
Cadence Minerals Holding in Macarthur
Cadence holds approximately 1% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in
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Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.
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