Cadence Minerals PLC (KDNC.L) Major Drilling Programme Commences at Yangibana

Hastings Technology Metals (ASX: HAS) Commences Major Drilling Program at Yangibana.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Hastings Technology Metals (ASX:HAS) (“Hastings”), Cadence’s joint venture partner at the Yangibana Rare Earth Project in the Gascoyne region of Western Australia (“Yangibana” “Yangibana Project”), has engaged a drilling contractor for the 2020 Yangibana exploration program. The priority focus of the program is to test a series of highly prospective extensional targets within the Yangibana project, with the intention of increasing the existing 21.25Mt JORC Resource and extending planned mine life.

Highlights:

· Programme to include 20,000m of RC drilling for additional Minerals Resource definition,

· 3,000m of Diamond Drilling for metallurgical sampling, and

· 5,000m of grade control drilling over the planned start-of-mine resource area on the Bald Hill deposit.

The primary target of the program is the Bald Hill – Simons Find – Frasers and Auer trends, which are the closest deposits to the permitted processing plant.

Drilling is scheduled to commence this week and will run until October 2020. Site preparation and mobilisation of the drilling rig, consumables, field staff and equipment is underway. The appointed drilling contractor has a long track record of safe and productive exploration drilling within Western Australia.

Diamond drilling samples are primarily to advance further ongoing ore sorting and processing variability test work programs, whilst the grade control drilling will be used to validate and quantify the Bald Hill Mineral Resource estimate and convert Resources to Reserves.

Hastings has spent many months reviewing data illustrating lithological, structural and geochemical controls on mineralisation at Yangibana. This review, which commenced in early February, has given Hastings geologists an improved understanding of the architecture controlling mineralisation on the project, and in particular the targets where structural control is most likely to have resulted in the emplacement of significant mineralisation.

The full Hastings ASX announcement can be found here: https://www.asx.com.au/asxpdf/20200618/pdf/44jr0mx0gs47nc.pdf

Hastings Chief Operating Officer, Andrew Reid commented: “The aim of the RC drilling is to target immediate extensions to the Bald Hill, Frasers, Auer and Yangibana Rare Earth Deposits, with the aim of adding tonnages to the Mineral Resource and additional mine life. This drilling is designed to initiate systematic testing of large strike extensions of the prospective ironstones that have never previously been tested.”

Cadence CEO Kiran Morzaria commented: “We are pleased to note that following the granting of the plant construction permit, Hastings are commencing a major drilling programme. While the drilling does not include Cadence license areas, it will nonetheless provide important additional data for the Yangibana Project Mineral Resources and mine life.”

Cadence Minerals Yangibana Holding:

Cadence owns 30% of the Yangibana, Yangibana North, Gossan, Hook, Kanes Gossan and Lions Ear Rare Earth Deposits, which form part of the Yangibana Rare Earth Deposit. Hastings Technology Metals owns the remaining 70% (“Hastings”). The updated resource ore statement can be found on the Yangibana Mineral Resource & Ore Reserve statement from 4th November 2019:

http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=2953668 .

The current mine plan anticipates production to start from our joint venture areas (Yangibana and Yangibana North) in year 5 and continue to the end of mine life. Further details can be found in the Hastings 2019 Annual Report


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