Last checked at 28 Feb 2019 11:49
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
European Metals (AIM: EMH) Cinovec Drill Programme Update.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the Cinovec Project drilling results published today by European Metals Holdings Limited ("European Metals" or "EMH"). Initial results from its current eight core-hole resource drilling programme announced by the Company on 5 November 2018 confirms that drilling of five of the eight holes has been completed. Drilling activities remain suspended and will resume after the end of the snow season. Analytical results for the fifth of the drill holes from the Cinovec South deposit are reported.
Key Points:
· Hole CIS-14 returned 67m averaging 0.43% Li2O (incl. 3m @ 0.99% Li2O and 0.18% Sn); 8m @ 0.67% Li2O and 0.20% Sn (incl. 4.15m @ 1.00% Li2O and 0.35% Sn); 8m @ 0.21% Sn, 4m @ 0.39% Sn; and 3m @ 0.20% Sn.
The drill hole results are very similar to predictions from European Metals' current geological model, again demonstrating the quality and robustness of the geological and resource model.
Lithological intervals, incl. rhyolite / granite contact and zones of alteration, were intersected where predicted with a high level of accuracy. Also, the Li, Sn and W grades measured corresponded to the block model.
Cadence holds approximately 19.1 percent of the equity in European Metals, which, through its wholly owned Subsidiary, Geomet s.r.o., controls the mineral exploration licenses awarded by the Czech State over Cinovec.
The full release can be found at: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13984412.html
Cadence Minerals CEO Kiran Morzaria commented: "Once again Cadence are pleased to note the progress made by CEO Keith Coughlan and the European Metals team at the Cinovec lithium and tin project drilling programme. As Keith points out in the EMH announcement, the drilling results have either been in line with, or exceeded expectations set out by the geological and resource model, so we now look forward to the impact of these results on the project economics over the next few weeks."
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For further information:
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 | |
Novum Securities Limited (Joint Broker) | +44 (0) 207 399 9400 |
Jon Belliss |
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.