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Cadence Minerals Says Macarthur Partner Releases Strong Assay Results

(Alliance News) - Cadence Minerals PLC said Friday its investee Macarthur Minerals Ltd announced ...

Alliance News 23 August, 2019 | 5:32PM
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(Alliance News) - Cadence Minerals PLC said Friday its investee Macarthur Minerals Ltd announced its joint venture partner had released "strong" assay results from the Hillside Gold & Copper Project in Australia.

Toronto-listed Macarthur - in which Cadence holds a 9.8% stake - reported that JV partner Fe Ltd had released results from its assay.

"Samples collected by FEL's geological team during a recent site visit to the Hillside tenements were submitted to the laboratory for analysis in early August," Cadence said in a statement. "Three of the assays received so far have returned strongly anomalous grades for base metals and gold from different locations."

"The base metals results from the gossan outcrop shows similar copper grades to a historical rock chip from a gossan outcrop directly south along strike approximately 6 kilometres away," Cadence added. "Both outcrops lie within a strong magnetic anomaly identified in the SkyTEM electromagnetic survey conducted by MLi in 2018. This gossan will be a high priority drilling target in coming months."

Shares in Cadence closed 1.5% higher at 0.10 pence in London on Friday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Cadence Minerals PLC 0.09 GBX 0.00 -

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