Cadence Minerals PLC Update - Auroch Minerals (5906C)
June 18 2019 - 3:27AM
UK Regulatory
TIDMKDNC
RNS Number : 5906C
Cadence Minerals PLC
18 June 2019
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals (ASX: AOU) - Gravity Survey Provides Compelling
Drill Target at Arden.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note
the announcement today from Auroch Minerals Limited (ASX: AOU)
("Auroch") that it has successfully completed a detailed
ground-gravity survey at its Arden Project (Arden) near Port
Augusta, South Australia. The survey successfully delineated an
intense gravity anomaly extending over 2km at the Ragless Range
prospect. The anomaly may be indicative of thickened mineralised
horizons of the high-grade zinc mineral smithsonite that was
identified in drill-hole RRDD007, which has a very high density and
hence contrasts greatly with the relatively low-density sedimentary
host rocks of the area.
Highlights:
-- A detailed ground-gravity survey was completed at the Arden Zinc Project in South Australia
-- The high-resolution survey delineated a significant gravity
anomaly extending over 2km at the Ragless Range prospect,
coincident with areas of anomalous zinc values at surface
-- The gravity anomaly may be indicative of thickened
mineralised horizons of the high-density, high-grade zinc mineral
smithsonite that was identified in drill-hole RRDD007, and provides
a direct targeting tool for the next phase of drilling
-- The Company continues to advance the Horn and Saints Nickel
Projects in Western Australia towards a maiden drilling programme
in the coming months
Located some 335km north of Adelaide, the Arden Project boasts a
large relatively unexplored exploration area of 1,664km2 and is
highly prospective for sedimentary-exhalative (SEDEX)
mineralisation. Within the Arden Project, up to three horizons of
SEDEX zinc mineralisation were identified from the recent drilling
programme at the Ragless Range Prospect extending over 3km of
strike and open in every direction.
Cadence currently owns approximately 6.5% of the equity in
Auroch Minerals, which is an exploration company targeting
principally zinc, cobalt and lithium.
The full release can be found at:
https://www.investi.com.au/api/announcements/aou/7851ea69-490.pdf
Cadence Minerals CEO Kiran Morzaria commented: "Under the
guidance of Aidan Platel and his team, the Auroch investment case
continues to build. Cadence Minerals look forward to the next phase
of developments."
- Ends -
For further information:
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
Novum Securities Limited (Joint
Broker) +44 (0) 207 399 9400
Jon Belliss
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.
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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