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Cadence Minerals on AIM issued an RNS on 22.11.21:
"Castillo Geo Team undertook considerable mapping across the PICASSO lithium project although much of the time was focused on the tenures NORTH-EAST QUADRANT where the HIGH DENSITY PEGMATITE corridor is located. Encouragingly, a circ ---10km ZONE of pegamatite occurance was CONFIRMD in the tenure north-east quadrant which is the BEST EXPOSED PART of the PICASSO lithium project. Notable the pegmatite potential ...this is subject to further investigation."
"Kiran Mozaria, CEO of Cadence Minerals: We are pleased to note the progress initially undertook ..."
My comment:
In general, even the Aussie know that pegmatites can be seen from the SURFACE but NOT all of it. So, it is always encouraging to see EXPOSED pegmatites which has to be assayed as well. However, drilling can CONFIRM beyond surface/exposed pegmatites via assays for lithium grades. Lithium tends to be subjected to WEATHERING and hence NOT all can be seen on the surface or exposed. On Castillo Copper, someone also posted that. Cadence optioned out Picasso and Litchfield to Castillo. So, 2 projects , one near Liontown's Buldania in WA, Australia and the other at Northern Territory, near Core's Finniss project. Core has only the 1 project in NT.
Just general info.
Wed, 24 Nov 2021.
Best part for me is that NE Picasso is exposed so multiple drills to modest depth say 30m-50m covers a lot of ground and demonstrates scale and grade very quickly particularly as cover is almost non-existent !
If we are successful then Cadence get a big chunk of CCZ shares & CZZ SP gets to multi-bag enabling a modest cash raise to fund further drilling. Bigger SP generates shareholder value all round even after a fund raise so all good!
ATB APR
aprogerson
Recommend. Pleased you are cognisant of what I was saying about general lithium pegmatites and surface expressions and more shallow deposits once drilling confirms.
Also, Picasso has a potential 10km strike per the RNS which is quite a lot?
I recall Charger Metals recent news was 4 potential deposits of 4km? Have to check when I have time.
24.11.21
@news I've been following Lithium for a while being an early investor in REM now Cadence and Bacanora ... so far to say I really like good Lithium opportunities of which I think CCZ has at least 1 possibly 2 of those given proximity to existing proven deposits and shared geology. The potential scale of Picasso with 10km of implied strike is really exciting especially if they can demonstrate metallergy and/or grade from the current samples.
Todays RNS confirming extension of our options on both projects whilst we await assays results plus a 30 day period thereafter to analyse is very welcome indeed.
I am also an investor in Charger via AIM: Gunsynd
ATB APR
@aprogerson
LoL-You were in the old name @REM, a lithium play. DL showed the pic of all the GREYish
top soil at Sonora. Helpful to know what it looks like if one were to look at Castillo Copper's pics of Picasso, WA, Australia and Litchfield, NT, Australia.
As for Charger, they are also LIKE CASTILLO at the bottom end of the Bynoe lithium belt or rather END of Core Lithium's LICENCE area. Core recently gave out assay results of the samples they tested from recall. This licence area they bought is in the MIDDLE of their licence area and close to their NON-JORC lithium deposits. You can look up the results.
CASTILLO'S LITCHFIELD is 900m to the BOUNDARY of the Core Lithium's Finniss JORC deposits and here the lithium grade is so much higher. So, here's hoping for the assays to be...?
As I said MONAX MINING on ASX, Australia [old name] did sample assays for the Lithfield EASTERN side [NOT Western side to Core as at this time] and one can seee the assay results for the rock chips etc.
However, 2 lithium plays here ie Picasso near the Liontown's Buldania etc and
Litchfield near Core's Finniss.
So, just got to wait for results of the assays now.
News, Thur, 25 Nov 2021 Sorry for typos. Not sure why I type the correct thing but it comes out wrong?
@news REM/Bacanora Sonora deposits were clay based which are as different as could be to Picasso/Litchfield hard rock pegmatites. The most important thing for CCZ right now is demonstrating continuity and grade preferably showing that they are analogous to Core's adjoining deposits hence a 'continuation of' despite the arbitrary legal ownership boundary. Having adjoining JORC deposits potentially give CCZ a significant opportunity to accelerate at lower risk through all stages of the exploration, development and into production phases.
What I also like is that the options from Cadence are designed to encourage them being taken up & developed so that the Cadence shares in CCZ then vest.
ATB APR
@aprogerson
Yes, @REM was lithium in clay but this is spodumene in rock etc.
However, the Castillo pictures of the exposed intrusions may not have been recognised by some folks, so always helpful to see lithium in all the host forms and what it looks like.
Well played by management extending the option waiting on assays, I can imagine there is a few companies that would love to get there hands on these Lithium prospects. I cant wait to see what these assays bring back. Could be a good early christmas for us shareholders. GLTAH
Any of you lithium aficionados have a view on Bradda Head?
Reading on Arya not looking clever, I don't think now be enough to impress the markets, to move to the average.
Put all the hype of results in one basket it will double.
Great convo guys
Good topping up for the brave.