Cadence Minerals PLC Update - Auroch Minerals (7734O)
22 May 2018 - 12:52AM
UK Regulatory
TIDMKDNC
RNS Number : 7734O
Cadence Minerals PLC
21 May 2018
21 May 2018
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals Update
17 Target Areas Identified at the Bonaventura Project
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Auroch
Minerals has announced the reinterpretation of historical
geophysical data for its 100%-owned Bonaventura Base-metals Project
has now been completed. The project is located on the
regional-scale CygnetSnelling Fault along trend from existing large
base-metal deposits such as the Angas Zinc deposit and the
Kanmantoo Copper deposit, in the world-class base-metal mining
region of South Australia.
Highlights
-- Reinterpretation of historical geophysical data for the
Bonaventura Base-metals Project completed
-- A total of 17 target areas identified by SGC from the
reinterpretation of high-resolution aeromagnetic, radiometric,
gravity and induced polarisation (IP) data
-- Geophysical data is coincident with high-grade target areas identified from Auroch's ground reconnaissance and will assist in the definition of drill targets for zinc, lead, copper and gold mineralisation
-- A new IP survey has been planned for 3 high-priority target areas to commence in June
-- Access and permitting processes for the maiden drill programme are well-advanced.
Auroch Minerals is now focused on the recently acquired Arden
and Bonventura projects located in the world class mining region of
South Australia.
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:
https://wcsecure.weblink.com.au/pdf/AOU/01983175.pdf
Kiran Morzaria, Chief Executive Officer of Cadence,
commented:
"The reinterpretation of the historical geophysical data and the
identification of 17 exploration target areas confirms the exciting
potential of the Bonaventura Project for both base-metal and
precious-metal mineralisation."
- 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 GBP20 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 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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