Last checked at 11 May 2018 10:37
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Auroch Minerals Update
High-Grade Zinc and Gold Results
from the Bonaventura Project
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Auroch Minerals has announced high-grade Zinc and Gold results from its Bonaventura Project in South Australia.
Highlights
Reconnaissance rock-chip sampling at the Bonaventura Base-metals Project has confirmed
high-grade zinc - plus lead, copper and silver - mineralisation at the Grainger Target area:
· 28.00% Zn, 1.44% Pb, 0.22% Cu and 19.5g/t Ag
· 21.30% Zn, 3.06% Pb, 0.45% Cu and 42.8g/t Ag
· 6.72% Zn, 2.17% Pb, 0.89% Cu and 30.6g/t Ag
· 3.17% Zn, 2.40% Pb, 0.91% Cu and 51.6g/t Ag
Reconnaissance sampling of waste dump material from historic artisanal mine workings at the
Kohinoor Gold Target in the southeast of the Bonaventura Project tenure also confirmed high-grade
gold mineralisation:
· 33.3 g/t Au
· 17.4 g/t Au
· 8.98 g/t Au
Re-processing and interpretation of existing geophysical data is underway.
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 approximaltey 7% of the equity 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/pdf/AOU/01980628.pdf
Kiran Morzaria, Chief Executive Officer of Cadence, commented:
"The results from the recent sampling at the Bonaventura Project are very encouraging and we are pleased Auroch Minerals is advancing its rapid exploration programme on schedule in order to systematically evaluate multiple target areas during 2018."
- 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.