Update - Auroch Minerals

RNS Number : 3071R

Cadence Minerals PLC

13 June 2018

 

Cadence Minerals Plc

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

Auroch Minerals Update

Induced Polarisation Survey Commences at the Bonaventura Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Auroch Minerals has announced the new Induced Polarisation ("IP") survey over the Bonaventura Base-metals Project has commenced. This follows the recent completion of the reinterpretation of historical geophysical data. The exploration programme is on schedule and will underpin the commencement of a maiden drill programme in July 2018. The project is located in a world-class base-metal region of South Australia.

Cadence currently owns a 7.7% equity stake in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

The full release can be found at: https://wcsecure.weblink.com.au/pdf/AOU/01989946.pdf

Kiran Morzaria, Chief Executive Officer of Cadence, commented:

"Additional IP data in these high priority target areas will complement Auroch Minerals' existing geological model and allow the company to plan for its maiden drill programme at the Bonaventura Project with more confidence."

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For 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 (Joint Broker)	[phone]
Neil Passmore
Giles Fitzpatrick
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 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.

 

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