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Macarthur Minerals Lake Giles Drilling Update
Macarthur Minerals Lake Giles Drilling Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 0790A Cadence Minerals PLC 16 January 2020 \n\nCadence Minerals Plc\n \n(\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \nMacarthur Minerals (TSX-V: MMS) confirms major intersections of magnetite mineralisation at Lake Giles Iron Project\n \n\nCadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) (\"Macarthur\") that it has confirmed significant intersections of magnetite mineralisation at its Lake Giles Iron Project near Kalgoorlie in Western Australia following the completion of its infill drilling program.\nDrilling at the Moonshine North deposit comprised 21 reverse circulation (RC) holes for 3379 metres advance and 9 diamond drill (DD) holes for 1676.2 metres advance totalling 5055.2m. Drilling was completed in December 2019 with final assay results received this week.\nCadence Minerals Holding in Macarthur\nCadence holds approximately 7 % 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.\nHighlights\n· DD hole LGDD_070 intersected high grade magnetite mineralisation. The interval 73m to 174m (101m) averaged 28.4% Fe.\n· DD hole LGDD_071 intersected the interval 78m to 162m (84m) averaging 30.4% Fe (including the interval 106m to 130m with a grade of 41.2% Fe).\n· DD hole LGDD_074 intersected the interval 46m to 99m (53m) averaging 32.8% Fe.\nLink here for the full announcement: https://web.tmxmoney.com/article.php?newsid=5722202672725413&qm_symbol=MMS\nMacarthur Minerals Executive Chairman Cameron McCall said: \"This is an outstanding result that builds our confidence to upgrade the resource classification to include Indicated and Measured Mineral Resources. The updated mineral resource, when completed, will underpin the Feasibility Study to be completed for the Lake Giles Iron Project.\"\n\n\nCadence Minerals CEO Kiran Morzaria commented: \"Once again, Cameron McCall and his team have added value to the Macarthur investment proposition. As major shareholders we are delighted to continue to support Macarthur, and we look forward to further...