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Macarthur Minerals - JV Partner for Nickel Project
Macarthur Minerals - JV Partner for Nickel Project.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \n \n RNS Number : 5954H\n Cadence Minerals PLC\n 25 March 2020\n \n \n \n \n Cadence Minerals Plc\n \n \n (\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \n \n \n \n \n Macarthur Minerals (TSX-V: MMS, ASX: MIO) seeks Venture Partner to further explore its nickel projects in Western Australia.\n \n \n \n \n \n Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note today's update from Macarthur Minerals (TSX-V: MMS, ASX: MIO) (\"Macarthur\") on the potential for cobalt and nickel mineralisation at its Lake Giles Iron Ore Project in Western Australia, following recent rock chip sampling that coincided with the Company's magnetite infill drilling.\n \n \n \n \n \n In 2018, a rock chip sampling program across the Snark prospect discovered samples containing the cobalt mineral asbolite with assays returning up to 2.6% cobalt and 2.0% nickel. In May 2018, a Moving Loop Electromagnetic (MLEM) geophysical survey was undertaken across the area that identified two compelling conductors coinciding with surface geochemical anomalies. In October 2019, the Company undertook further rock chip sampling confirming anomalous Nickel, Cobalt and Chromium grades that warrant further exploration.\n \n \n \n \n \n Macarthur is currently focusing on its Lake Giles Iron Ore Project and is seeking a venture partner to further advance exploration of its nickel projects.\n \n \n \n \n \n The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7147043172086554&qm_symbol=MMS\n \n \n \n \n \n Cameron McCall, President and Executive Chairman of Macarthur Minerals commented:\n \n \n \n \n \n \"On the back of the Company's initial exploration for nickel and base metals, the Company has undertaken a comprehensive review of its previous drilling and soil sample assays and targeted several areas for on-ground exploration. Recent exploration was successful in extending the anomalous nickel and cobalt rock samples along the extent of the bedrock conductor identified in mid-2018. The Company is now in the process of seeking a venture partner interested in furthering this opportunity at Lake Giles.\"\n \n \n \n \n \n Cadence Minerals Holding in Macarthur\n \n \n \n \n \n Cadence holds approximately 4.1% of the issued equity interest in Macarthur, which ...