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Macarthur Minerals Lake Giles Iron Project Update
Macarthur Minerals Lake Giles Iron Project Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \n \n RNS Number : 0780G\n Cadence Minerals PLC\n 13 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) reports strong progress on Feasibility Study for Lake Giles iron project.\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) (\"Macarthur\"), that is pushing ahead on the Feasiblity Study for its Lake Giles Iron Project in Western Australia, despite strong economic headwinds caused by the coronavirus crisis.\n \n \n \n \n \n Progress to Date\n \n \n \n \n \n XRF assays and David Tube Recovery (DTR) analysis from the infill drilling program completed at the end of 2019 have confirmed significant intersections of magnetite mineralisation. Results of these assays were released to the market by Macarthur on January 16, 2020. These results are now being incorporated into an updated mineral resource model currently being prepared by CSA Global.\n \n \n \n \n \n Meanwhile, detailed 'route to market' studies including port and rail designs have commenced and remain a key priority. These studies will form the background of rail access, haulage and port contracts.\n \n \n \n \n \n Tenders have also been called for metallurgical testing, process and infrastructure design, and mining studies to support a detailed Feasibility Study.\n \n \n \n \n \n The full release can be found at: https://web.tmxmoney.com/article.php?newsid=5403569500482534&qm_symbol=MMS\n \n \n \n \n \n \n Macarthur Executive Chairman Cameron McCall commented:\n \n \n \"Investor confidence across the board has taken a hit lately but we're confident that Macarthur is close to receiving a major shot in the arm on the back of an updated resource estimate and how we will get this to market. While the prices of most major commodities are wilting in the face of the coronavirus, iron ore has been resilient with the benchmark 62% Fe product hovering around a relatively robust $US90 per tonne, that's up from $US72 in November last year. Lower oil prices, lower shipping rates between China and Australia as well as a declining Australian to United States dollar should see a rapid rebalancing as all these var...