EverGreen – RC Drilling Commenced at Bynoe Project

Cadence Minerals PLC

18 November 2024

 

Cadence Minerals Plc

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

EverGreen - RC Drilling Commenced at Bynoe Project

Cadence Minerals (AIM: KDNC) is pleased to announce the start of RC drilling at the Byone Project by ASX-listed Evergreen Lithium Limited ("EverGreen") (ASX: EG1). Cadence is an 8.74% shareholder in EverGreen. Link here to view the full Evergreen ASX announcement

Highlights:

•      Following a successful Aircore drilling campaign, RC drilling has commenced at Bynoe, targeting deeper lithium mineralisation

•      Recent AC drilling results confirmed multiple priority targets for deeper drilling

•      Initial interpretations indicate the presence of multiple stacked, shallow-dipping pegmatites, resembling prominent lithium-bearing systems in the area, highlighting Bynoe's potential in this region

Following the encouraging initial air-core (AC) drilling results, a Reverse Circulation (RC) rig has been deployed to the site.

This new drilling phase aims to explore priority targets identified through Aircore drilling, with particular interest in the recently announced Line 6 target, which has demonstrated significant lithium potential.

Figure 1: RC Drilling begins at Byone

The deployment of the RC rig marks a major step forward in EverGreen's exploration strategy. The recent phase of air-core drilling at Byone is complete, with 297 drill holes covering 6,456 meters. Initial results were encouraging, with interpretation indicating multiple stacked, shallow-dipping pegmatites, similar to lithium-bearing systems like Hang Gong and Lees Booth.

For further information contact:
Cadence Minerals plc	[phone]
Andrew Suckling
Kiran Morzaria
Zeus Capital Limited (NOMAD & Broker)	[phone]
James Joyce
Darshan Patel Isaac Hooper
Fortified Securities - Joint Broker	[phone]
Guy Wheatley
Brand Communications	[phone]
Public & Investor Relations
Alan Green

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.

Cautionary and 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.

The information contained within this announcement is deemed by the company to constitute Inside Information as stipulated under the Market Abuse Regulation (E.U.) No. 596/2014, as it forms part of U.K. domestic law under the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

 

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