Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Auroch Minerals (ASX: AOU) (“Auroch”) has announced that it has significantly increased its exploration tenure across its Arden and Bonaventura Projects in South Australia. The new areas are considered highly-prospective for base-metals and add momentum to Auroch’s aggressive exploration programmes, with drilling already underway at both Arden and Bonaventura Projects. The Arden and Bonaventura Projects now encompass a total of 2,079km2 within the world-class Adelaide Geosyncline, which underpins Auroch’s strategy to consolidate land in the region to systematically and aggressively explore for high-grade base-metal deposits.
Highlights:
- Auroch increases its tenement package in South Australia with 2 new Exploration Licence. Applications (ELAs), one at the Arden Project and one at the Bonaventura Project
- All three new areas considered highly-prospective for SEDEX and structurally-hosted zinc, copper, gold and cobalt mineralisation.
- EL Application at the Arden Project has already been granted (EL6217).
- New licences significantly expand project area by 55%.
- Drilling continues at Arden and Bonaventura with assay results to be released to marketas they become available.
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: http://clients3.weblink.com.au/pdf/AOU/02016236.pdf
Cadence Minerals CEO Kiran Morzaria commented:“Auroch CEO Aidan Platel and his team continue to blaze a trail at both Arden and Bonaventura projects, the quality and potential of which is already well documented.”
“Expanding the project area by 55% and adding these new licenses adds considerable scope for additional discoveries and further underpins the potential of these world-class assets.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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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.
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 achievinghigh 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 keymarketing, 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.
Forward-LookingStatements:
Certain statements in this announcement are or may be deemed to be forward-lookingstatements. Forward-lookingstatements 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-lookingstatements 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 keypersonnel 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-lookingstatements.