Cadence Minerals PLC Auroch Minerals Update (1179F)
May 15 2017 - 3:40AM
UK Regulatory
TIDMKDNC
RNS Number : 1179F
Cadence Minerals PLC
15 May 2017
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Drilling commences ahead of schedule at Alcoutim Cu-Zn Project
in Portugal
Cadence (AIM/NEX: KDNC; OTC: REMMY) reports that Auroch Minerals
("Auroch") in which Cadence currently owns a 7.7% stake has
announced that drilling has commenced at the Alcoutim Cu-Zn Project
ahead of schedule. The full Auroch release is available at:
http://clients3.weblink.com.au/pdf/AOU/01857170.pdf .
Highlights
-- Drilling has commenced at Alcoutim on Friday 12th May on
single shift basis, ramping up to double shift operations Monday
15th of May.
-- The first hole is estimated to take between 4 and 6 weeks to complete.
-- The borehole is situated in the Foupana priority target, one
of 5 priority targets to be drilled, a large magmatic centre with
corresponding EM anomalies potentially representing massive
sulphide orebodies.
-- The Alcoutim targets occur along strike of the supergiant
Neves Corvo Cu-Zn-Pb-Ag-Au mine operated by Lundin Mining
Corporation.
-- Auroch's initial drill program will comprise three to five
holes targeting geological environments similar to Neves Corvo in
combination with significant geophysical anomalies along the Neves
Corvo Trend.
- Ends -
For further information please
contact
Cadence Minerals plc +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD
& Broker) +44 (0) 207 220 1666
James Joyce
James Bavister
Square1 Consulting +44 (0) 207 929 5599
David Bick
Brian Alexander
Qualified Person
Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the
information contained in this announcement. Kiran holds a Bachelor
of Engineering (Industrial Geology) from the Camborne School of
Mines and an MBA (Finance) from CASS Business School.
About Cadence Minerals:
Cadence is dedicated to smart investments for a greener world.
The planet needs rechargeable batteries on a global scale -
upcoming supersized passenger vehicles, lorries and buses - require
lithium and other technology minerals to power their cells. Cadence
is helping find these minerals in new places and extracting them in
new ways, which will meet the demand of this burgeoning market.
With over GBP35 million vested in key assets globally, Cadence is
helping us reach tomorrow, today.
Cadence invests across the globe, principally in lithium mining
projects. Its primary strategy is taking significant economic
stakes in upstream exploration and development assets within
strategic metals. We identify assets that have strategic cost
advantages that are not replicable, with the aim of achieving lower
quartile production costs. The combination of this approach and
seeking value opportunities allows us to identify projects capable
of achieving high rates of return.
The Cadence board has a blend of mining, commodity investing,
fund management and deal structuring knowledge and experience, that
is supported by access to key marketing, political and industry
contacts. These resources are leveraged not only in our investment
decisions but also in continuing support of our investments,
whether it be increasing market awareness of an asset, or advising
on product mix or path to production. Cadence Mineral's goal is to
assist management to rapidly develop the project up the value curve
and deliver excellent returns on its investments.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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