Cadence Minerals PLC Update - Auroch Minerals (8408G)
06 March 2018 - 10:28PM
UK Regulatory
TIDMKDNC
RNS Number : 8408G
Cadence Minerals PLC
06 March 2018
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals Acquires Two High-Grade Zinc Projects in South
Australia
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Auroch
Minerals has announced it will acquire 90% of the tenement known as
the Arden Zinc Project (Arden Project) and 100% of the tenement
known as the Bonaventura Zinc Project 1 (Bonaventura Project)
located in the world-class base-metal mining region of South
Australia, subject to approval of its shareholders.
-- The Arden Project has the potential to host large-scale zinc,
lead, copper and cobalt stratiform sedimentary exhalative (SEDEX)
deposits:
- Large 710km2 Exploration Licence granted with several key
mineralised targets already identified within the tenure
- Multiple assays of between 9-10% zinc and 0.1% cobalt
- Up to 2.5% cobalt from recent sampling at the Kanyaka target
- The Arden Project is supported by excellent infrastructure
-- The Bonaventura Project covers highly prospective geology and
historic mines along 30km of strike of the regional-scale
Cygnet-Snelling Fault
- Previous drilling at Bonaventura hit high-grade zinc intersections
- Samples from the historic Kohinoor gold mine returned grades up to 28 g/t Au
- The Bonaventura Project has several high-grade zinc and gold targets that are drill-ready.
Cadence currently owns a 7.7% equity stake in Auroch Minerals,
which is an exploration company targeting principally zinc, cobalt
and lithium.
The full release can be found at:
http://clients3.weblink.com.au/clients/aurochminerals/headline.aspx?headlineid=6874781
Kiran Morzaria, Chief Executive Officer of Cadence,
commented:
"We are pleased to see Auroch Minerals pursue acquisitions which
are in historical mine areas and contain multiple highly
prospective targets."
- 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 Sinclair-Ford
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 GBP25 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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