Cadence Minerals PLC Auroch Minerals Saints Nickel Project Update (7610P)
October 14 2019 - 4:41AM
UK Regulatory
TIDMKDNC
RNS Number : 7610P
Cadence Minerals PLC
14 October 2019
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals (ASX: AOU) - Saints Nickel Project Drilling
Update.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note
the update today from Auroch Minerals Limited (ASX: AOU) ("Auroch")
on its maiden drilling programme at its recently-acquired Saints
Nickel Project (Saints), located approximately 65km northwest of
Kalgoorlie and 7km east of the Goldfields Highway. The latest
diamond drill-hole SNDD005 intersected 1.60m of semi-massive to
massive sulphide mineralisation. The mineralisation is
nickeliferous, with significant pentlandite (one of the major
nickel sulphide ore minerals) observed intergrown with pyrrhotite,
along with pyrite and chalcopyrite (a copper sulphide ore mineral).
The interval has been processed and sampled by the Auroch team and
assays are pending.
Cadence Minerals Holding in Auroch
Cadence currently owns approximately 1 % of the equity in Auroch
Minerals, which is an exploration company targeting principally
zinc, cobalt and lithium.
Highlights:
-- 1.60m of nickeliferous semi-massive to massive sulphide
mineralisation intersected in drill-hole. SNDD005 of maiden
drilling programme (assays pending)
-- Disseminated to massive sulphide mineralisation intersected
in all five drill-holes completed to-date (assays pending).
-- Drilling programme 50% completed and progressing on time and budget.
-- Down-hole electromagnetic (DHEM) surveys to be undertaken
over the coming week on all completed drill-holes.
Auroch Managing Director Aidan Platel commented: "We are very
pleased with the progress of our maiden drilling programme at the
Saints Nickel Project. We are halfway through the programme and
progressing on-schedule and on-budget, and the drilling has been of
a high standard. The nickeliferous massive sulphides intersected in
drill-hole SNDD005 are very interesting and we look forward to
receiving the assay results as soon as possible. With 5 holes
remaining to drill, all of the assay results still to come and
down-hole EM surveys commencing next week, we look forward to
receiving a large amount of data over the next two months that will
guide the next phase of drilling at the Saints Nickel Project in
early 2020, and will continue to update the market as this
information is received."
The full release can be found at:
https://www.investi.com.au/api/announcements/aou/4dc13449-07e.pdf
Cadence Minerals CEO Kiran Morzaria commented: "We are pleased
to note that the Saints Nickel drilling programme is now 50%
complete, and has been delivered on schedule and on budget. This is
an exciting period for Auroch shareholders as we await the first
assay results."
- 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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