Cadence Minerals #KDNC – EverGreen – Spodumene Discovery at Bynoe Project

Cadence Minerals (AIM: KDNC) is pleased to announce the discovery of spodumene-bearing pegmatites at the Bynoe Project by ASX-listed Evergreen Lithium Limited (“EverGreen”) (ASX: EG1). Cadence is an 8.74% shareholder in EverGreen. Link here to view the full Evergreen ASX announcement

Highlights: 

•      Initial results from the ongoing AC drilling program along Line 6 on the western flank have confirmed multiple intersections of spodumene-bearing pegmatites

•      The pegmatite intersections have initially been confirmed in four drill holes – 349, 350, 351, and 352 – with downhole intervals of up to 10m

•      Sporadic spodumene crystals were observed in air-core chips within the oxidised and leached pegmatites

•      Initial interpretation indicates multiple stacked, shallow-dipping pegmatites, like lithium-bearing systems like Hang Gong and Lees Booth

•      Ongoing pegmatite analysis will guide exploration strategies, including deeper RC drilling and optimal drill hole orientation and spacing 

EverGreen announced significant progress in its ongoing exploration program at the Bynoe Project, located 50km south of Darwin in the Northern Territory. Preliminary results from air-core drilling along Line 6 on the western side of Evergreen’s Bynoe project have confirmed multiple spodumene bearing pegmatite intersections, demonstrating Bynoe project’s lithium potential.

Evergreen Exploration Manager Andrew Harwood commented: “The recent drilling results along Line 6 are very promising, strengthening our confidence in the lithium potential at the Bynoe Project. It’s exciting to have encountered blind pegmatites early in our reconnaissance air-core drilling program. With numerous targets still to explore, we anticipate more significant discoveries. Our geological team is diligently analysing the data to enhance our understanding of the pegmatite system. Comparisons with nearby prospects, such as Hang Gong, highlight the potential scale of Bynoe’s system. We are planning deeper RC drilling and optimising our air-core program to fully assess these promising targets.”

Figure 1: Bynoe Project, showing new discovery zone and areas of planned drilling

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.

Cautionary and 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. 

The information contained within this announcement is deemed by the company to constitute Inside Information as stipulated under the Market Abuse Regulation (E.U.) No. 596/2014, as it forms part of U.K. domestic law under the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a regulatory information service, this information is considered to be in the public domain.