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3 Sep 2019 08:24
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals (ASX: AOU) To Kick Off Extensional Drilling at Saints Nickel Project.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Auroch Minerals Limited (ASX: AOU) ("Auroch") that it has received all permits and access required to commence its maiden drilling programme at the recently-acquired Saints Nickel Project (Saints), located approximately 65 km northwest of Kalgoorlie and 7 km east of the Goldfields Highway. The Department of Mines, Industry Regulation and Safety (DMIRS) has approved both Program of Work (PoW) applications relating to drilling programmes on M29/245 and M29/246 that comprise the Saints Project.
Cadence Minerals Holding in Macarthur
Cadence currently owns approximately 6.5% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.
Highlights:
·; Approvals granted (PoWs) for the upcoming diamond drilling programme at the Saints Nickel Project
·; 3,000m drilling contract awarded to Topdrive Drillers Australia, a well-respected Australian drilling company with drilling experience in the Saints region
·; Drilling targeted to grow the current Saints nickel resource (total JORC (2012) Mineral Resources of 1.05Mt @ 2.00% Ni, 0.20% Cu & 0.06% Co) through drill testing of postulated extensions along strike and/or down-plunge of the known nickel sulphide mineralisation
·; Drilling expected to begin within the next two weeks with preparations well advanced
The full release can be found at: https://www.investi.com.au/api/announcements/aou/6a72f46c-1c9.pdf
Cadence Minerals CEO Kiran Morzaria commented: "Under the guidance of Aidan Platel and his team, the Auroch investment case continues to build. With high quality drilling targets already identified at Saints, we look forward to the initial results."
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For further information:
Cadence Minerals plc | +44 (0) 207 440 0647 |
Andrew Suckling |
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Kiran Morzaria |
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WH Ireland Limited (NOMAD & Broker) | +44 (0) 207 220 1666 |
James Joyce |
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James Sinclair-Ford |
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Novum Securities Limited (Joint Broker) | +44 (0) 207 399 9400 |
Jon Belliss |
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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 identified 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 reflect 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.
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