
("Cadence Minerals", "Cadence" or "the Company")
European Metals (AIM: EMH) -
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that European Metals Holdings Limited ("European Metals" "EMH" or "the Company") has today announced initial results from its current nineteen hole resource drilling programme at the
Highlights:
· Completion of 12 of a total of 19 hole programme at the
· Interim results from first 6 holes in line with or better than expectations
· Cinovec contains the largest hard rock lithium deposit in
· Cinovec is fully funded to final investment decision with approximately
· EMH intending to become one of the lowest carbon footprint producers of battery grade Lithium Hydroxide and lithium carbonate in
· Cinovec is situated within 250 km of numerous existing or proposed end users of battery grade Lithium chemicals
Given the relative ease of beneficiation of the Cinovec deposit through wet magnetic separation it was decided that it was important to report the drill results and the "in lab" beneficiation results. As reported to the market
Results:
· Resource drill holes CIS-18, CIS-19, CIS-20, CIS-21, CIS-22 and CIS-23 have been completed including analytical reports.
· Resource drill holes CIS-24, CIS-25, CIS-26, CIS-28, CIS-29 and CIS-30 have been drilled with analytical results pending.
· Drilling of resource hole CIS-27 is currently underway.
· Hole CIS-18 returned 57m averaging 0.41% Li2O, incl. 5m @ 0.96% Li2O, 3 m @ 1.13% Li2O, 0.12% Sn (Tin) and 0.104% W (Tungsten), and 7 m @ 0.136% W.
· Hole CIS-19 returned 68.9m averaging 0.45% Li2O and 0.11% Sn, incl. 10.8m @ 0.75% Li2O, 10m @ 0.13% Sn, 2.25m @ 0.54% Li2O, 0.15% Sn and 0.13% W, 4m @ 0.95% Sn, and 2m @ 0.15% Sn.
· Hole CIS-20 returned 82.8m averaging 0.41% Li2O, incl. 8.9m @ 0.66% Li2O.
· Hole CIS-21 returned 76.3m averaging 0.55% Li2O, incl. 12m @ 0.81% Li2O.
· Hole CIS-22 returned 115.5m averaging 0.47% Li2O, incl. 3m @ 0.91% Li2O and 3m @ 0.87% Li2O, and 28m @ 0.27% Sn.
· Hole CIS-23 returned 98.6m averaging 0.51% Li2O, incl. 9.7m @ 0.92% Li2O, 1m @ 1.49% Li2O, and 2.9m @ 1.31% Li2O.
In all of the six holes, the upper section of the drilled ore body is elevated in tin. The best intercept was returned from the hole CIS-22, with an interval of 28m averaging 0.27% Sn. If considered no cut-off and internal waste, following tin intercepts were recorded: 29 m @ 0.1% Sn in CIS-18, 52m @ 0.14% Sn in CIS-19, 74m @ 0.06% Sn in CIS-20, 37m @ 0.1% Sn in CIS-21, 50.5m @ 0.17% Sn in CIS-22, 71.5m @ 0.09% Sn in CIS-23.
The current drill programme has been planned to define blocks of resource for the first 5 years of mining within the Cinovec-South area, with a goal to convert the resource from indicated to measured category. The holes have been terminated in ore consistent with the aim of targeting the first 5 years of resource blocks for the mine.
Link here for the full EMH announcement, detailed mineralized intercepts and lithology, and project background: https://www.londonstockexchange.com/news-article/EMH/drilling-report/14848789
European Metals Executive Chairman
The zinnwaldite concentrate produced from Cinovec requires only roasting, compared to the calcination and roasting required of processing spodumene. The combined effect of not requiring calcination, energy intensification and use of natural gas is expected to considerably reduce greenhouse gas emissions of the Project when compared to existing spodumene projects."
Cadence CEO
Cadence holds approximately 12% percent of the equity in European Metals, which owns 49% of Geomet s.r.o. ("Geomet") which owns the mineral exploration licenses awarded by the Czech State over Cinovec.
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For further information:
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+44 (0) 7879 584153 |
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+44 (0) 207 220 1666 |
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+44 (0) 207 399 9400 |
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Qualified Person
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.
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