Cadence Minerals PLC Auroch Minerals - Update (9010V)
November 08 2017 - 4:26AM
UK Regulatory
TIDMKDNC
RNS Number : 9010V
Cadence Minerals PLC
08 November 2017
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals - Update
More Cobaltite Identified in Drilling Tisova Project, Czech
Republic
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to
report that Auroch Minerals, in which Cadence currently owns a 7.7%
equity stake, has announced that all drill holes to date have
intersected multiple zones of massive to semi-massive sulphide
mineralisation within a wider sulphide halo as predicted in the 3D
geology model. Hole TIDD003 intersected visible cobalt and copper
minerals within a 130m thick zone containing 1-5% disseminated
sulphides.
The full release can be found at:
http://clients3.weblink.com.au/pdf/AOU/01919087.pdf
Highlights from the Auroch Minerals Release
-- Third hole (TIDD001) intersects multiple zones of
semi-massive, disseminated and vein hosted sulphide mineralisation
above target zone
-- Sulphides include cobaltite (Co), chalcopyrite (Cu), sphalerite (Zn) and pyrrhotite (Fe)
-- TIDD001 drilled to 79.1m after intersecting historic void and
underground scrap preventing further drilling - hole to be
redrilled
-- Fourth hole (TIDD004) commenced, completion expected by end of November
-- Samples from first two holes despatched to ALS in Romania
-- Auroch's 3D model confirmed:
o Sulphide halos more than 100m true thickness
o Multiple lenses of massive semi massive sulphides within target halo
-- Existing infrastructure of 30 Km + of underground
development, including a 400m shaft down to 9 level (400m below
surface) is present at Tisová
-- Auroch's best results for Cobalt, Copper, Gold and Silver at Tisová:
o 0.69% Cobalt, 17.1% Copper, 3.7 ppm Gold and 178 ppm Silver
Kiran Morzaria, Chief Executive Officer of Cadence,
commented:
"We are very encouraged by these latest drill results from the
Tisova Project and look forward to a further update before the end
of this year.
- 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
Hannam & Partners LLP (Joint Broker) +44 (0) 207 907 8500
Neil Passmore
Giles Fitzpatrick
Square1 Consulting +44 (0) 207 929 5599
David Bick
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 GBP30 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
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