Cadence Minerals PLC Update - Auroch Minerals (4951Q)

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RNS Number : 4951Q

Cadence Minerals PLC

12 September 2017

Cadence Minerals Plc

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

Auroch Minerals - Update

Cadence (AIM/NEX: KDNC; OTC: REMMY) reports that Auroch Minerals ("Auroch") in which Cadence currently owns a 7.7% stake has announced that 3D modelling of the Tisova orebody confirms significant potential for the cobalt/copper/gold project in the EU's Czech Republic.

The full release can be found at: http://clients3.weblink.com.au/pdf/AOU/01895050.pdf .

Highlights from Auroch Release

-- 3D modelling of the Tisova orebody confirms potential for hosting a significant cobalt/copper/gold project in the heart of the EU.

   --      3D modelling Summary: 

o Sulphide zones more than 100m true thickness.

o Multiple lenses of massive sulphide within a disseminated blanket.

o More than 30 Km of underground development.

o Modelled sulphide zones open north, south and at depth.

o Modelling indicates best continuity of massive sulphides is down dip.

o High-grade copper horizons form narrow lenses less than 5m wide within thick sulphide blanket.

   --      3D model used to plan upcoming drilling campaign. 
   --      Best historic results for Cobalt, Copper, Gold and Silver at Tisová: 

o 0.69% Cobalt, 17.1% Copper, 3.7 g/t Gold and 178 g/t Silver

   --      Drilling to commence shortly. 

- Ends -

 
 For further information, 
  please contact. 
 
 Cadence Minerals plc            [phone] 
 Andrew Suckling 
 Kiran Morzaria 
 
 WH Ireland Limited (NOMAD 
  & Broker)                      [phone] 
 James Joyce 
 James Bavister 
 
 Hannam & Partners LLP (Joint 
  Broker)                        [phone] 
 Neil Passmore 
 Giles Fitzpatrick 
 
 Square1 Consulting              [phone] 
 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 GBP30 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 12, 2017 05:01 ET (09:01 GMT)