Cadence Minerals PLC - Update - Auroch Minerals London Stock Exchange
RNS Number : 8758O
Cadence Minerals PLC
24 August 2017
 

Cadence Minerals Plc

 

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

 

Tisová - Cobalt, Copper, and Gold Project - Czech Republic

Sampling Results

 

Cadence (AIM/NEX: KDNC; OTC: REMMY) reports that Auroch Minerals ("Auroch") in which Cadence currently owns a 7.7% stake has announced the sampling results from the second round of multi-elemental analysis on waste dumps at the Tisová - Co Cu Au project.

 

The full release can be found at http://clients3.weblink.com.au/pdf/AOU/01887653.pdf

 

Highlights from Auroch Release

 

·      Results from second round multi-element historic waste dumps confirm Cobalt presence at Tisová

·      Significant grades of Copper, Gold and Silver complement the Cobalt results demonstrating the polymetallic potential of Tisová

·      Best results for Cobalt, Copper, Gold and Silver

0.69% Cobalt, 17.1% Copper, 3.7 ppm Gold and 178 ppm Silver

·      Drilling approvals secured for initial drill program

·      In country team mobilised and preparing for drilling campaign in mid- September

·      3D model of ore body under construction

 

Commenting, Kiran Morzaria, Chief Executive Officer of Cadence, said:

 

"It is great to see such encouraging initial results from the Tisová project. The dump sampling has encountered economic grades of Cobalt, which along with the polymetallic nature of the mineralisation in the samples make for a highly prospective exploration target."

 

"With Auroch scheduled to start drilling this September and initial geological interpretation work indicating an ore body of substantial tonnage, we look forward to the news flow and results over the coming months." 

 

- 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




Hannam & Partners LLP (Joint Broker)

+44 (0) 207 907 8500

Neil Passmore


Giles Fitzpatrick




Square1 Consulting

+44 (0) 207 929 5599

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.

 


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