Cadence Minerals plc said that geotechnical drilling would soon start to support mine planning as part of the current feasibility study for the magnetite Lake Giles iron project in Yilgarn, Western Australia.
RESULTS
The company holds 1% of the issued equity interest in Australian explorer and operator Macarthur Minerals Ltd.
Crew and equipment will begin to mobilise shortly with drilling due to start during July for six to eight weeks.
The programme will include eight diamond core holes for a total depth of 1560m, each with varying depths of between 175 and 230m.
Results will provide information on the footwall and the hanging wall of the main pits for the first phase of magnetite mining operations at Moonshine.