Cadence Minerals PLC - Update - Auroch Minerals London Stock Exchange
RNS Number : 0505O
Cadence Minerals PLC
15 August 2017
 

 

 

Cadence Minerals Plc

 

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

 

Auroch Update - Tisová Co-Cu-Au Project Update and History

Cadence (AIM/NEX: KDNC; OTC: REMMY) reports that Auroch Minerals ("Auroch") in which Cadence currently owns a 7.7% stake has announced an update of the ongoing work at the Tisová Cobalt Copper Gold Project located in the Czech Republic, where the Company's field visit was recently completed. The full Auroch release is available at: http://clients3.weblink.com.au/pdf/AOU/01883826.pdf

The Department of the Environment and Agriculture approved the Company's initial 12-hole (5,500m) diamond drilling program (ASX Release 07 August 2017), which is scheduled to commence in September. 

Copper has been produced in this region since the sixteenth century, it is only through recent sampling carried out by Auroch that the economic significance of Cobalt, Gold and Silver has been identified at Tisová.

The presence of Cobalt is significant for Auroch, as the Company's key strategy is to focus on metals crucial to the renewable energy space.

Highlights

·      Auroch holds first mover advantage in targeting bulk tonnage cobalt deposits in the heart of the European Industrial Region

·      Initial 5,500m 12-hole drilling program at Historic Tisová Mine to commence in September

·      3D model of the historic underground development of the Tisová orebody to identify potential cobalt zones is expected to be completed in mid-August

Extensive historical drilling - 72 surface drill holes for 25,985m and 142 underground drill holes 14,299m

·      30 km of existing underground mine infrastructure will significantly advantage CAPEX

·      Auroch sampling has returned significant grades of cobalt, copper and gold

Grades of up to 0.68% Co, 3.5% Cu and 3.7g/t Au were returned

 

 

- Ends -

For further information please contact




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 Bavister




Square1 Consulting

+44 (0) 207 929 5599

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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