Auroch Minerals Update

RNS Number : 8536D

Cadence Minerals PLC

02 May 2017

 

Cadence Minerals Plc

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

Drilling to commence at Alcoutim Cu-Zn Project in Portugal

Cadence (AIM/NEX: KDNC; OTC: REMMY) is excited to report that Auroch Minerals ("Auroch") in which Cadence currently owns a 7.7% stake announced that drilling is to commence at the Alcoutim Cu-Zn Project. The full Auroch release is available at: http://clients3.weblink.com.au/pdf/AOU/01853068.pdf .

Highlights from the Auroch Release:

·      Drilling to commence on priority Cu-Zn targets in the week beginning 15^th May

·      Targets display coincident magnetic, EM and gravity anomalies along strike from the Super-Giant Neves Corvo Cu-Zn deposit

·      Drilling permissions and permits granted

·      Down hole geophysics contracts awarded to Terratec Geophysical Services

·      Auroch has the right to acquire 75% of the Alcoutim Cu-Zn Project

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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 Bavister
Square1 Consulting	[phone]
David Bick
Brian Alexander

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 £35 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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