Update - Auroch Minerals

RNS Number : 9007T

Cadence Minerals PLC

06 July 2018

 

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Auroch Minerals (ASX: AOU) IP Survey Identifies New High Priority Drill Target at Bonaventura Project.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note Auroch Minerals (ASX: AOU) has identified a fourth high-priority drill target at its 100% owned Bonaventura Base-metals Project. The new drill target, the Dewrang Target, has been identified from the interpretation of a recently completed IP survey, confirming the significant exploration upside and potential of the Bonaventura Project.

Highlights:

·     IP survey interpretation at the Dewrang Target identified two highly-chargeable anomalies at approximately 200m depth over a strike length of over 400m

·     Anomalies indicate potential for the presence of high-grade base-metal sulphides, making the Dewrang Target a high-priority area for exploration

·     Significant chargeability anomalies also identified at the Vinco and Grainger prospects represent two other high-priority drill targets

·     Excellent correlation between IP chargeability anomalies and historic high-grade zinc drill intercepts (including 6m @ 6.3%Zn1)

·     Up to 2,500m of exploratory drilling at Bonaventura Project to commence Q3 2018 targeting highly-prospective copper, zinc and gold prospects

Cadence currently owns a 6.7 % equity stake in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

The full release can be found at:  https://www.asx.com.au/asxpdf/20180706/pdf/43wbmyp4rdj9v5.pdf

Cadence Minerals CEO Kiran Morzaria commented: " The early results from the Auroch Induced Polarisation survey are nothing short of spectacular. IP results have not only confirmed drill-ready targets at Auroch's priority Vinco and Grainger prospects, but results from the new fourth drill Dewrang Target shows the IP chargeability anomaly is more than twice as strong than at Grainger. "

"We are enthused by the possibilities offered by Auroch's new Dewrang target, and note CEO Aidan Platel's comments that the potential for high-grade base-metal intersections is 'fantastic'"

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

or further information, please contact.

Cadence Minerals plc                                                                                                                                    [phone]

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)                                                                                                               [phone]

James Joyce

James Sinclair-Ford

Hannam & Partners LLP                                                                                                                                [phone]

(Financial Advisors & Joint Broker)                        

Neil Passmore

Ingo Hofmaier

Square1 Consulting                                                                                                                                        [phone]

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 £30 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.

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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