Cadence Minerals PLC Update - Auroch Minerals (9007T)
July 06 2018 - 8:49AM
UK Regulatory
TIDMKDNC
RNS Number : 9007T
Cadence Minerals PLC
06 July 2018
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals (ASX: AOU) IP Survey Identifies New High
Priority Drill Target at Bonaventura Project.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note
Auroch Minerals (ASX: AOU) has identified a fourth high-priority
drill target at its 100% owned Bonaventura Base-metals Project. The
new drill target, the Dewrang Target, has been identified from the
interpretation of a recently completed IP survey, confirming the
significant exploration upside and potential of the Bonaventura
Project.
Highlights:
-- IP survey interpretation at the Dewrang Target identified two highly-chargeable anomalies at approximately 200m depth over a strike length of over 400m
-- Anomalies indicate potential for the presence of high-grade
base-metal sulphides, making the Dewrang Target a high-priority
area for exploration
-- Significant chargeability anomalies also identified at the
Vinco and Grainger prospects represent two other high-priority
drill targets
-- Excellent correlation between IP chargeability anomalies and
historic high-grade zinc drill intercepts (including 6m @
6.3%Zn1)
-- Up to 2,500m of exploratory drilling at Bonaventura Project to commence Q3 2018 targeting highly-prospective copper, zinc and gold prospects
Cadence currently owns a 6.7 % equity stake in Auroch Minerals,
which is an exploration company targeting principally zinc, cobalt
and lithium.
The full release can be found at:
https://www.asx.com.au/asxpdf/20180706/pdf/43wbmyp4rdj9v5.pdf
Cadence Minerals CEO Kiran Morzaria commented: " The early
results from the Auroch Induced Polarisation survey are nothing
short of spectacular. IP results have not only confirmed
drill-ready targets at Auroch's priority Vinco and Grainger
prospects, but results from the new fourth drill Dewrang Target
shows the IP chargeability anomaly is more than twice as strong
than at Grainger. "
"We are enthused by the possibilities offered by Auroch's new
Dewrang target, and note CEO Aidan Platel's comments that the
potential for high-grade base-metal intersections is
'fantastic'"
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
or 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 Sinclair-Ford
Hannam & Partners LLP +44 (0) 207 907 8500
(Financial Advisors & Joint Broker)
Neil Passmore
Ingo Hofmaier
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.
Forward-Looking Statements:
Certain statements in this announcement are or may be deemed to
be forward-looking statements. Forward-looking statements are
identi ed by their use of terms and phrases such as "believe"
"could" "should" "envisage" "estimate" "intend" "may" "plan" "will"
or the negative of those variations or comparable expressions
including references to assumptions. These forward-looking
statements are not based on historical facts but rather on the
Directors' current expectations and assumptions regarding the
Company's future growth results of operations performance future
capital and other expenditures (including the amount. nature and
sources of funding thereof) competitive advantages business
prospects and opportunities. Such forward-looking statements re ect
the Directors' current beliefs and assumptions and are based on
information currently available to the Directors. Many factors
could cause actual results to differ materially from the results
discussed in the forward-looking statements including risks
associated with vulnerability to general economic and business
conditions competition environmental and other regulatory changes
actions by governmental authorities the availability of capital
markets reliance on key personnel uninsured and underinsured losses
and other factors many of which are beyond the control of the
Company. Although any forward-looking statements contained in this
announcement are based upon what the Directors believe to be
reasonable assumptions. The Company cannot assure investors that
actual results will be consistent with such forward-looking
statements.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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