Business
Macarthur Minerals Joint Venture Partner Update
Macarthur Minerals Joint Venture Partner Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 1418I Cadence Minerals PLC 06 August 2019 \n\nCadence Minerals Plc\n(\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \nMacarthur Minerals (TSX-V: MMS) Joint Venture Partner FE Limited Identifies Areas of Prospectivity for Further Exploration in the Pilbara.\n \nCadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (\"Macarthur\") that FE Limited (\"FEL\") has completed reconnaissance trips to several of Macarthur's lithium, gold and base metals projects in the Pilbara region of Western Australia.\n \nFEL has reported that areas of prospectivity were identified in most of the tenements and rock chips were taken for initial tests (results pending). The results from the reconnaissance trips are detailed in the location map, photos and descriptions in the figures below.\n \nCadence Minerals Holding in Macarthur\n \nCadence holds approximately 9.8% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.\n \nAbout FE Limited\n \nFE Limited (ASX: FEL) is a listed mineral exploration Company that holds or has rights or interests in various projects and tenements prospective for battery metals, copper, iron ore, gold and base metals located in Australia. The Company is focused on the exploration of battery metal projects. In March 2019, FEL entered into an agreement to acquire the Pippingarra Lithium Project and the Marble Bar Lithium Project (Project) from Mercury Resources Group Pty Ltd. These areas complement the tenement portfolio of Macarthur Minerals, establishing an 1800 square kilometre exploration footprint in the important Lithium and Gold region of Western Australia.\n \nOn May 14, 2019 Macarthur announced it had entered into an exclusive option agreement with FE Limited (ASX: FEL), for FEL to acquire an interest of up to 75% in the tenements held by Macarthur's wholly owned subsidiary Macarthur Lithium Pty Ltd (\"MLi\").\n \nMr Ian S Cooper, B.Sc., A.R.S.M., F.G.S. FAusIMM, a Fellow of the Australasian Institute of Mining and Metallurgy (membership number 107348), is a consultant of Macarthur and is a Qualified Person as d...