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Cadence Minerals #KDNC – Auroch Minerals (ASX: AOU) to acquire High-Grade Western Australian Nickel Projects.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Auroch Minerals Limited (ASX: AOU) (“Auroch”) that it has entered into a binding agreement with Minotaur Exploration Pty Ltd (ASX:MEP) (“Minotaur”) to acquire 100% of the tenements known as the Saints Nickel Project (“Saints”) and the Leinster Nickel Project (“Leinster”).

Highlights:

  • Binding agreement with Minotaur Exploration Ltd (ASX: MEP) to acquire the Saints and Leinster Nickel Projects located in Western Australia for a total consideration of $1.5M.
  • The Saints and Leinster Projects are advanced, high-quality nickel sulphide projects with the following Inferred Resources:
    • Saints – 1.05Mt @ 2.00% Ni, 0.20% Cu, 0.06% Co for 29.5kt Ni, 1.6kt Cu, 0.6kt Co.
    • Leinster (The Horn) – 0.60Mt @ 1.39% Ni, 0.30% Cu for 8.3kt Ni, 1.8kt Cu.
  • Both projects remain open down-plunge and along strike, with significant proximal exploration potential through untested or partially-tested electromagnetic (EM) conductors.
  • The 121.5km2 tenement package is considered both highly prospective and under-explored, hosting extensive ultramafic rock packages and a number of drill-ready nickel sulphide targets within one of the highest-producing nickel belts in Australia.

Auroch’s acquisition of the Saints and Leinster projects aims to unlock the latent value of high-grade nickel sulphide assets. Auroch will provide a dedicated management team to aggressively explore the projects, which have historically seen limited nickel exploration. The combined portfolio of high-grade nickel sulphide assets provides a solid base for Auroch to systematically explore high-priority targets and emerge as the next significant nickel developer on the ASX.

The Saints high-grade deposit of 1.05Mt @ 2.00% Ni, 0.20% Cu, 0.06% Co3 remains open down-plunge and along strike with noteworthy proximal exploration potential through untested or partially tested electromagnetic (EM) conductors. Significant high-grade intercepts at the Saints Nickel Project include 2.0m @ 3.17% Ni from 171m depth. Auroch has identified high priority exploration targets for immediate drill testing that have the potential to extend the currently defined resource.

Leinster is prospective for both nickel and gold and is strategically located in a historic nickel region around Leinster-Waterloo, proximal to existing infrastructure. Significant historic intercepts include 14.66m @1.95% Ni and 0.35% Cu from 132.6m depth. The Horn deposit of 0.60Mt @ 1.39% Ni and 0.30% Cu6 remains open down-plunge and along strike and Auroch will systematically explore extensional targets with the aim of extending the currently JORC 2004 Code defined resource and converting to it to the JORC 2012 Code..

Cadence currently owns approximately 6.5% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

The full release can be found at: https://www.investi.com.au/api/announcements/aou/08c02b4a-90e.pdf

Cadence Minerals CEO Kiran Morzaria commented:“The acquisition of Saints and Leinster Nickel projects represents another milestone for Aidan Platel and the Auroch team, and an excellent addition to Auroch’s existing portfolio of projects. As highlighted in the announcement, both projects offer multiple drill-ready targets that will be tested immediately. We look forward to the the results and subsequent developments.”

– Ends –

For further information:

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 Sinclair-Ford
Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400
Jon Belliss

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.

Forward-LookingStatements:

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.

Cadence Minerals #KDNC – Auroch Minerals (ASX: AOU) – Ground Gravity Survey Commences at Arden Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Auroch Minerals Limited (ASX: AOU) (“Auroch”) that it has initiated a ground-gravity survey at its Arden Project (Arden) near Port Augusta, South Australia. The detailed survey will cover two highly-prospective target areas of the Ragless Range prospect as well as a third target area at the Radford Creek prospect.

Auroch have appointed Atlas Geophysics Pty Ltd (Atlas) to undertake the Arden gravity survey, and it is estimated it will take approximately a week to complete. The survey will be completed on a very close spacing of 15m between stations to be able to define dense mineralised horizons as little as 3m thick. The initial line-spacing has been planned at 125m – 200m, which may be infilled to closer spacing as needed as the survey progresses.

Located some 335km north of Adelaide, the Arden Project boasts a large relatively unexplored exploration area of 1,664km2 and is highly prospective for sedimentary-exhalative (SEDEX) mineralisation. Within the Arden Project, up to three horizons of SEDEX zinc mineralisation were identified from the recent drilling programme at the Ragless Range Prospect extending over 3km of strike and open in every direction.

Cadence currently owns approximately 6.5% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

The full release can be found at: https://www.investi.com.au/api/announcements/aou/8a06cc4c-a73.pdf

Cadence Minerals CEO Kiran Morzaria commented:“Aidan Platel and the Auroch team continue to build the investment case for Cadence Minerals. We look forward to the survey results and subsequent developments.”

– Ends –

For further information:

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 Sinclair-Ford
Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400
Jon Belliss

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.

Forward-LookingStatements:

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.

Cadence Minerals #KDNC – Auroch Minerals (ASX: AOU) Exploration License Granted at Torrens East Copper Project

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Auroch Minerals Limited (ASX:AOU) (“Auroch”) that the Exploration Licence 6331 (EL 6631) at its Torrens East Copper Project (“Torrens East”) has been granted. The Exploration Licence is the western of the two tenements comprising the Torrens East Project, and covers a likely extension to the gravity anomaly that is currently being drill-tested by the Torrens JV (70% Aeris Resources Ltd; 30% Argonaut Resources NL). The granting of the EL means the Company can now proceed with access agreements in order to initiate exploration work programmes on this highly prospective area.

Auroch continues to collate and interpret available historic geological and geophysical data with a focus on coincident areas of gravity and magnetic anomalies and is currently investigating various options for further exploration including airborne gravity surveys, reprocessing of aeromagnetic data and Magnetotellurics (MT).

The Company is also continuing its intensive exploration programme at the Arden Zinc Project. During the past few months the exploration team has completed detailed mapping and surface geochemistry sampling over large areas of the Arden tenement. The work has been focused on the key prospect areas previously identified, such as the possible extension of the high-grade zinc mineralisation encountered in drill-hole RRDD-0071 in the 2018 drill programme, which included 3.65m @15.47% zinc within 12.80m @4.96% zinc from 53.00m. With the zinc price recently increasing to over 3,000 USD/t2 the Company is working hard towards the next drilling campaign planned for the end of this quarter.

Cadence currently owns 6.6% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

The full release can be found at: https://www.investi.com.au/api/announcements/aou/2ae11c6c-5fa.pdf

Cadence Minerals CEO Kiran Morzaria commented:“Aidan Platel and his team continue to build the Auroch investment case. In addition to the Torrens East EL grant, we also note the Company’s comments on progress at the Arden Zinc project. We look forward to further developments”

– Ends –

For further information:

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 Sinclair-Ford
Hannam & Partners LLP (Joint Broker) +44 (0) 207 907 8500
Neil Passmore
Giles Fitzpatrick
Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400
Jon Belliss

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. 

Forward-LookingStatements:

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.

Cadence Minerals #KDNC – Auroch Minerals (ASX: AOU) Permitting Approval Gives Green Light for Maiden Drilling Programme at Arden Project.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Auroch Minerals (ASX: AOU) has received permitting approval to commence a maiden drilling programme at its Arden Base-metals Project in South Australia. The approval of the Exploration Program for Environment Protection and Rehabilitation “EPEPR” provides scope to commence up to 2,500m of exploratory drillings to test highly-prospective zinc, lead, copper and cobalt targets at the Ragless Range, Radford Creek and Kanyaka Prospects. The Company has completed access negotiations with the relevant landowners as required, and DDH1 Drilling Pty Ltd (DDH1 Drilling) has advised that a drill rig has begun mobilisation to Arden. Drilling will commence as early as next week

Highlights:

·      Environmental approval (EPEPR) granted for planned drilling programme at the Arden Project

·      Drill programme of up to 2,500m of RC and diamond drilling will test highly-prospective zinc, lead, copper and cobalt targets

·      Maiden drilling programme fully funded from strong balance sheet

·      DDH1 Drilling has initiated mobilisation of drill rig to site

Cadence currently owns approximately 7% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

The full release can be found at: https://wlpdf.weblink.com.au/pdf/AOU/02002525.pdf

Cadence Minerals CEO Kiran Morzaria commented: “We are delighted by the pace of developments at the Arden project. We congratulate Aidan Platel and his team for securing approval of the EPEPR, which was the final hurdle for Auroch before commencement of the maiden drilling programme.”

“We look forward to the first set of drilling results in the next few weeks.”

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

– Ends –

For further information:

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 Sinclair-Ford

Hannam & Partners LLP (Joint Broker)

+44 (0) 207 907 8500

Neil Passmore

Ingo Hofmaier

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 £20 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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