Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) reports that Auroch Minerals has announced results from reconnaissance sampling at its 90%-owned Arden Base-Metals Project. The project is located in the world-class base-metal mining region of South Australia, which is host to numerous large base-metal deposits including the Beltana zinc deposit, the Angas zinc deposit and the Kanmantoo Copper deposit.
During reconnaissance field mapping and sampling at the Arden Project extensive sedex-style base metal mineralisation was observed at three of the advanced target areas – Ragless Range, Radford Creek and Kanyaka – with high-grade zinc, copper and cobalt mineralisation confirmed by laboratory analyses of rock-chip samples. Sedex (Sedimentary exhalative) deposits, such as the giant Mt Isa deposit in Queensland, are globally significant in that they account for over half of the world’s zinc and lead production.
- Reconnaissance rock-chip sampling at the Arden Base-metals Project has confirmed the presence of zinc, lead, copper and cobalt stratiform sedimentary exhalative (SEDEX) mineralisation at three primary target areas:
- Ragless Range Zinc Target – results of rock chips collected from existing trenches included: 6.97% Zn, 6.53% Zn and 5.55% Zn
- Kanyaka Copper-Cobalt Target – results of rock chips taken from old workings included: 12.4% Cu, 2.4% Zn and 0.5% Co; and 9.9% Cu, 4.0% Zn, 0.2% Co and 0.2g/t Au
- Radford Creek Lead-Zinc Target – results from rock-chips taken from existing trenches included: 3.9% Pb and 1.7% Zn; and 2.9% Pb and 1.6% Zn
Cadence currently owns a 7.7% equity stake in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.
The full release can be found at: http://clients3.weblink.com.au/pdf/AOU/01970075.pdf
Kiran Morzaria, Chief Executive Officer of Cadence, commented: “These very pleasing results confirm potential for a substantial zinc, lead, copper and cobalt play supported by excellent infrastructure.”
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|For further information, please contact.|
|Cadence Minerals plc||+44 (0) 207 440 0647|
|WH Ireland Limited (NOMAD & Broker)||+44 (0) 207 220 1666|
|Hannam & Partners LLP (Joint Broker)||+44 (0) 207 907 8500|
|Square1 Consulting||+44 (0) 207 929 5599|
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 GBP20 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.