Cadence Minerals investee Macarthur to commence geotechnical drilling campaign at Lake Giles Iron Project

Cadence Minerals plc (LON:KDNC) has noted that Macarthur Minerals (ASX:MIO) has announced that it is about to commence a geotechnical drilling campaign to support mine planning work being undertaken as part of the current Feasibility Study for its flagship Lake Giles Iron Project in the Yilgarn region of Western Australia.

The drill programme is planned to commence during July and will involve the drilling of 8 diamond core holes for a total depth of 1560m, with varying depths of between 175 to 230m each.

The drill programme will be undertaken as efficiently as possible and is expected to take between 6 to 8 weeks to complete.

An image accompanying this announcement showing the planned geotechnical holes at the Lake Giles Iron Project preliminary layout is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/c0def0e3-a8f6-47ed-bb00-eb689b97cc27

Macarthur Minerals CEO Andrew Bruton commented: “This important phase of drilling work will provide information targeting the footwall and the hanging wall of the main pits for the first phase of magnetite mining operations at Moonshine and will be used to support mine planning work being undertaken by Orelogy Mine Consulting and Pells Sullivan Meynink (“PSM”) as part of Macarthur’s current Feasibility Study for our flagship, high grade magnetite Lake Giles Iron Project.

The scheduling of the drill programme aligns with the Company’s expectations for delivery of the Feasibility Study. The mobilisation of the drill crew and equipment on site will commence shortly and we look forward to keeping investors updated on the progress of this work over the course of the next few months.”

Link here to view the full announcement and drill hole detail:

https://finance.yahoo.com/news/lake-giles-feasibility-study-macarthur-120000554.html

Cadence Minerals Holding in Macarthur

Cadence holds approximately 1% 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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Cadence Minerals

More articles like this

Cadence Minerals

Lithium prices are soaring high

As Lithium prices have been the highest as compared to the last three years, an upsurge is seen in the sale of electric vehicles. Hence, depleting the stocks of the battery material in China, one of world’s top consumer.

Cadence Minerals

Iron ore price rises as China’s imports hit record

The Iron ore price rebounded on Tuesday from a seven-month low after data showed China’s imports in August picked up for the first time in five months, rising 10.1% over July. China imported iron ore worth a record

Cadence Minerals

Positive market outlook for lithium

The political commitments globally towards decarbonisation has seen changes in the incentives for electric vehicles, resulting in an rapid increase in electric vehicles sales and demand for batteries used in their manufacture. The increase in demand is translating

Cadence Minerals

Iron ore price jumps 7%

The iron ore price surged Tuesday on expectations a recovery in economic growth, including additional support from the Chinese government, will boost demand for steel. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were

Cadence Minerals

Cadence Minerals updates on Macarthur Lakes Giles feasibility study

Cadence Minerals plc (LON:KDNC) has noted that Macarthur Minerals has announced that progress towards completion of the Feasibility Study for Macarthur’s high grade magnetite Lake Giles Iron Project is continuing to build pace. Highlights ·      Site visit conducted by

Cadence Minerals

Surging lithium demand outstrips forecast

Global demand for lithium is accelerating at a faster clip than previously thought, according to the world’s second-largest producer of the rechargeable battery ingredient. With electric-vehicle demand surging more than 150% in the first half from a year

Cadence Minerals

Iron ore price bounces back

Iron ore prices rose on Wednesday, after five straight sessions of losses, tracking steel futures as China’s output curbs fuelled supply worries. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for