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Cadence Minerals #KDNC – Evergreen Lithium (ASX: EG1) Uncovers Additional Large Pegmatite Targets in Central-West Bynoe
Cadence Minerals (AIM: KDNC; OTC: KDNCY) is pleased to note that ASX listed Evergreen Lithium Limited (“Evergreen”) (ASX: EG1) has announced that it has received subsequent assays from its Phase 3 geochemical soil sampling at Bynoe in the Northern Territory, identifying additional large lithium targets. These new targets are in the central area of the tenement further demonstrating the potential for additional lithium spodumene mineralisation in the Bynoe pegmatite field, and within EverGreen’s 231 square Kilometers of tenure.
Highlights:
- EverGreen’s Phase 3 Geochemical sampling continues to yield additional large geochemical anomalies at Central Bynoe.
- Assay results from 1,214 samples received reflect similar large-scale lithium trends to those previously identified.
- 3 large new lithium pegmatite prospects have been identified.
- Assays for a further 900 samples are expected to be received shortly.
- Planned work programs for 2024 (dry season) include auger, RAB/AC and RC drilling testing geochemical and geophysical anomalies with potential follow-up diamond drilling.
Exploration at Evergreen’s Bynoe Project has focused on the discovery of economic lithium mineralisation hosted in lithium-bearing lithium-cesium-tantalum (LCT) pegmatites.
Link here to view the full Evergreen ASX announcement.
Evergreen Exploration Manager Andrew Harwood commented: ““These soil results add to the potential of EverGreen identifying an economic LCT pegmatite discovery at the company’s Bynoe Project. Using a variety of proven exploration tools, the team is looking forward to the upcoming dry season to recommence field activities targeting the anomalies outlined by the soils program, the ANT geophysical work, and recent field mapping.”
Background to Cadence’s investment in Evergreen Lithium
Cadence Minerals received approximately 15.8 million shares in Evergreen in July 2022 when Cadence sold its 31.5% stake in Lithium Technologies and Lithium Supplies (“LT and LS”) to Evergreen as announced on 27 June 2022. A further AS$ 3.47 million (£1.86 million) of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen. The pricing of Evergreen shares associated with this consideration is based on a defined pricing mechanism linked to the VWAP and the date at which the performance milestones are achieved. Further details of these milestones can be found in the Evergreen prospectus available here . Cadence’s shares are subject to a 2-year escrow agreement as determined by the listing rules of the ASX.
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For further information contact:
|
|
| Cadence Minerals plc | +44 (0) 20 3582 6636 |
| Andrew Suckling | |
| Kiran Morzaria | |
| WH Ireland Limited (NOMAD & Broker) | +44 (0) 20 7220 1666 |
| James Joyce | |
| Darshan Patel | |
| Fortified Securities – Joint Broker | +44 (0) 20 3411 7773 |
| Guy Wheatley | |
| Brand Communications | +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green |
Cadence Minerals #KDNC – Evergreen Lithium (ASX: EG1) – Aboriginal Areas Protection Authority (AAPA) Certificate Granted
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that ASX listed Evergreen Lithium Limited (“Evergreen”) (ASX: EG1) has announced the receipt of its Aboriginal Areas Protection Authority Certificate for the Bynoe Project in the Northern Territory, where the Company has identified multiple large and significant lithium pegmatite targets for drill testing.
Highlights:
- EverGreen’s Aboriginal Areas Protection Authority (AAPA) Certificate granted.
- A revised Mine Management Plan (MMP) for Bynoe is being finalised for approval.
- Contractors for maiden drill program at Bynoe have been secured.
- Geochemical and geophysical activities during the 2023 field season have identified multiple high priority drill targets.
- Drill testing of these targets will commence on MMP approval, subject to weather conditions.
- Drilling of high priority targets identified.
- 2,050 soil sample assays are at the laboratory awaiting assay.
Aboriginal Areas Protection Authority Certificate
Under the Northern Territory Aboriginal Sacred Sites Act, the Aboriginal Areas Protection Authority is responsible for overseeing the protection of Aboriginal sacred sites on land and sea across the whole of Australia’s Northern Territory.
The Authority consults with Aboriginal custodians to ensure they are fully informed about development; and to ensure land users and developers are given clear conditions regarding proposed work in the vicinity of sacred sites.
Through the work of the Authority, developers can have confidence to proceed with investment.
The authority certificate covers aspects of exploration including but not limited to:
- Exploration drilling (RC, Diamond, Air Core & Rotary techniques)
- Track related works (new tracks, update of existing tracks and maintenance)
- Construction of drill pads and sumps
Cadence holds 15,830,138 million shares, equivalent to 8.74% of the issued share capital of Evergreen and is its largest shareholder. Evergreen was listed on the Australian Stock Exchange on 11 April 2023.
Link here to view the full Evergreen ASX announcement
Evergreen Chairman Simon Lill commented: “Receipt of AAPA is a significant milestone in progressing the Bynoe project and ensuring the protection and preservation of Aboriginal sacred sites. With so many compelling drill targets and a drill rig on standby, we look forward to a very active and successful 2024 exploration season.”
Background to Cadence’s investment in Evergreen Lithium
Cadence Minerals received approximately 15.8 million shares in Evergreen in July 2022 when Cadence sold its 31.5% stake in Lithium Technologies and Lithium Supplies (“LT and LS”) to Evergreen as announced on 27 June 2022. A further AS$ 3.47 million (£1.86 million) of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen. The pricing of Evergreen shares associated with this consideration is based on a defined pricing mechanism linked to the VWAP and the date at which the performance milestones are achieved. Further details of these milestones can be found in the Evergreen prospectus available here . Cadence’s shares are subject to a 2-year escrow agreement as determined by the listing rules of the ASX.
|
For further information contact:
|
|
| Cadence Minerals plc | +44 (0) 20 3582 6636 |
| Andrew Suckling | |
| Kiran Morzaria | |
| WH Ireland Limited (NOMAD & Broker) | +44 (0) 20 7220 1666 |
| James Joyce | |
| Darshan Patel | |
| Fortified Securities – Joint Broker | +44 (0) 20 3411 7773 |
| Guy Wheatley | |
| Brand Communications | +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green |
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
Cadence Minerals #KDNC – Evergreen Lithium (ASX: EG1) Major Pegmatite Targets Uncovered in Central Bynoe’s Phase 3 Geochemical Sampling
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that ASX listed Evergreen Lithium Limited (“Evergreen”) (ASX: EG1) has announced the first batch of assays from its Phase 3 geochemical soil sampling at Bynoe in the Northern Territory which has identified new large and significant lithium anomalism. These new targets are in the central area of the tenement, demonstrating the widespread nature of potential mineralisation in the Bynoe pegmatite field. The anomalies demonstrate a north to north-east trend, similar to that found elsewhere in the Bynoe pegmatite field.
Highlights:
- EverGreen’s largest geochemical signatures identified to date in first 1007 soil samples in from Phase 3 soil sampling at Central Bynoe.
- Assay results show additional large-scale lithium (Li) trends to those previously identified.
- Additional infill and regional surface geochemical sampling completed with 2050 soil samples delivered for analysis. Results pending.
- Regional and prospect-scale mapping programs completed with additional field activities currently underway.
- Modelling of the geochemical results and previous Ambient Noise Tomography (ANT) is underway aiming to identify large “blind” pegmatite systems which do not outcrop.
- Preparation underway for the commencement of maiden drill program.
Exploration at Evergreen’s Bynoe Project has focused on the discovery of economic lithium mineralisation hosted in lithium-bearing lithium- caesium-tantalum (LCT) pegmatites.
The Bynoe Project is located contiguous to Core Lithium’s (ASX:CXO) Finniss Project which contains an estimated Total Mineral Resource of 30.6Mt at 1.31% Li2O. In 2022, Core Lithium (ASX:CXO), utilised ANT technology developed by Fleet Space Technologies at its Finniss Project.
Cadence holds 15,830,138 million shares, equivalent to 8.74% of the issued share capital of Evergreen and is its largest shareholder. Evergreen was listed on the Australian Stock Exchange on 11 April 2023.
Link here to view the full Evergreen ASX announcement
Evergreen Chairman Simon Lill commented: “Geochemical results from sample analysis at Central Bynoe is significant as it points to additional zones of interest further south-east from those identified along the Core Lithium boundary, announced previously1. Our latest mapping program across the geochemical anomalies and ANT survey targets, has identified structures hosting quartz veins with intermittent muscovite, which may be using the same structures as the pegmatite targets. The upcoming drill program, expected to commence shortly, will test several geochemical anomalies, ANT survey targets and depth extensions.”
Background to Cadence’s investment in Evergreen Lithium
Cadence Minerals received approximately 15.8 million shares in Evergreen in July 2022 when Cadence sold its 31.5% stake in Lithium Technologies and Lithium Supplies (“LT and LS”) to Evergreen as announced on 27 June 2022. A further AS$ 3.47 million (£1.86 million) of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen. The pricing of Evergreen shares associated with this consideration is based on a defined pricing mechanism linked to the VWAP and the date at which the performance milestones are achieved. Further details of these milestones can be found in the Evergreen prospectus available here . Cadence’s shares are subject to a 2-year escrow agreement as determined by the listing rules of the ASX.
|
For further information contact:
|
|
| Cadence Minerals plc | +44 (0) 20 3582 6636 |
| Andrew Suckling | |
| Kiran Morzaria | |
| WH Ireland Limited (NOMAD & Broker) | +44 (0) 20 7220 1666 |
| James Joyce | |
| Darshan Patel | |
| Fortified Securities – Joint Broker | +44 (0) 20 3411 7773 |
| Guy Wheatley | |
| Brand Communications | +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green |
Cadence Minerals #KDNC – Corporate Update Evergreen Lithium (ASX: EG1) ANT Geophysical Survey Interpretation Identifies 9 Priority Pegmatite Targets at Bynoe
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that ASX listed Evergreen Lithium Limited (“Evergreen”) (ASX: EG1) has announced the final analysis of its EXOSPHERE BY FLEET® Ambient Noise Tomography (ANT) geophysics survey at Bynoe.
Highlights:
- Final Ambient Noise Tomography (“ANT”) geophysical interpretation received.
- Nine potential pegmatite targets in total have been identified, each characterised by low seismic velocity anomalies.
- Survey data integration with geochemical data shows surface expression of anomalies.
- Geochemical sampling and mapping continues at Bynoe in advance of maiden drill program which awaits conclusion of MMP and AAPA approval process.
- Geophysical and geochemical integration and analysis ongoing.
ANT Background
ANT is a ground geophysics method that uses natural or man-made seismic noise as a signal source to measure the seismic velocity of the subsurface in three dimensions. The key objective of the survey was to identify potential lithium-bearing pegmatites at depth, otherwise known as blind pegmatites. Lithium pegmatites in the Bynoe Pegmatites Field have been shown to be indicated by zones of slower velocities than the surrounding metamorphic host rocks of the Burrell Creek Formation. The data has been processed and undergone a complete analysis, with a view to initially defining priority targets within each survey grid.
Preliminary results from the ANT Survey Grid 1 were announced by EverGreen on 28 June 2023 in an ASX Release titled “ANT Survey Identifies Priority Pegmatite Targets at Bynoe”.
The Bynoe Project is located contiguous to Core Lithium’s (ASX:CXO) Finniss Project which contains an estimated Total Mineral Resource of 30.6Mt at 1.31% Li2O. In 2022, Core Lithium (ASX:CXO), utilised ANT technology developed by Fleet Space Technologies at its Finniss Project.
Cadence holds 15,830,138 million shares, equivalent to 8.74% of the issued share capital of Evergreen and is its largest shareholder. Evergreen was listed on the Australian Stock Exchange on 11 April 2023.
Link here to view the full Evergreen ASX announcement
Background to Cadence’s investment in Evergreen Lithium
Cadence Minerals received approximately 15.8 million shares in Evergreen in July 2022 when Cadence sold its 31.5% stake in Lithium Technologies and Lithium Supplies (“LT and LS”) to Evergreen as announced on 27 June 2022. A further AS$ 3.47 million (£1.86 million) of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen. The pricing of Evergreen shares associated with this consideration is based on a defined pricing mechanism linked to the VWAP and the date at which the performance milestones are achieved. Further details of these milestones can be found in the Evergreen prospectus available here . Cadence’s shares are subject to a 2-year escrow agreement as determined by the listing rules of the ASX.
| For further information contact:
|
|
| Cadence Minerals plc | +44 (0) 20 3582 6636 |
| Andrew Suckling | |
| Kiran Morzaria | |
|
WH Ireland Limited (NOMAD & Broker) |
+44 (0) 207 220 1666 |
| James Joyce | |
| Darshan Patel | |
| Brand Communications | +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green
|
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.
Cadence Minerals #KDNC – Evergreen Lithium (ASX: EG1) ANT Analysis identifies Priority Pegmatite Targets at Bynoe Northern Area 1
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that ASX listed Evergreen Lithium Limited (“Evergreen”) (ASX: EG1) has announced the preliminary analysis of its EXOSPHERE BY FLEET® Ambient Noise Tomography (ANT) geophysics survey at Bynoe.
ANT is a ground geophysics method that uses natural or man-made seismic noise as a signal source to measure the seismic velocity of the subsurface in three dimensions. The key objective of the survey was to identify potential lithium bearing pegmatites at depth otherwise known as blind pegmatites, and the ANT analysis has identified priority pegmatite targets within Bynoe Northern Area 1 adjacent to Core Lithium.
The Bynoe Project is located contiguous to Core Lithium’s (ASX:CXO) Finniss Project which contains an estimated Total Mineral Resource of 30.6Mt at 1.31% Li2O.
Cadence holds 15,830,138 million shares, equivalent to 8.74% of the issued share capital of Evergreen and is its largest shareholder. Evergreen was listed on the Australian Stock Exchange on 11 April 2023.
Bynoe Results – Highlights:
- Ambient Noise Tomography (“ANT”) Survey analysis received for northern Survey Area 1.
- Preliminary analysis identifies multiple large scale potential pegmatite targets situated along strike from Core Lithium’s Carlton, and Hang Gong resources, characterised by low seismic velocity anomalies.
- EverGreen priority ANT targets show similar low velocity features as Core Lithium’s BP33 survey.
- Interpretation and analysis of ANT data in Survey Area 1 continues, with analysis of Survey Areas 2, 3 & 4 to follow.
- Geochemical sampling and mapping currently underway at Bynoe.
Link here to view the full Evergreen ASX announcement
Fleet Space Technologies’ Director of Planetary Geophysics, Dr. Gerrit Oliver commented: “The data we recorded at EverGreen’s Bynoe Project was exceptional. The proximity to the coast and the nearby mining and exploration activities provided abundant low and high frequency seismic noise, which in turn enabled us to image the subsurface down to 500m depth with high resolution. From these results, and our earlier work at Core Lithium’s BP33 pegmatite, it is becoming clear that the method is well suited to imaging potential pegmatites in this region due to the favourable noise conditions and the velocity contrast between the pegmatites and the host rock.”
EverGreen Lithium’s Head of Exploration, Jason Ward commented: “This ANT Survey has given us another tool to target lithium pegmatites. The preliminary, and priority low seismic velocity anomalies appear to show some coincidence with our geochemical and geological interpretations and have also revealed new targets at depth and beneath cover. This data will be used together with our geochemical results to assist us in planning our maiden drilling program.”
Background to Cadence’s investment in Evergreen Lithium
Cadence Minerals received approximately 15.8 million shares in Evergreen in July 2022 when Cadence sold its 31.5% stake in Lithium Technologies and Lithium Supplies (“LT and LS”) to Evergreen as announced on 27 June 2022. A further AS$ 3.47 million (£1.86 million) of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen. The pricing of Evergreen shares associated with this consideration is based on a defined pricing mechanism linked to the VWAP and the date at which the performance milestones are achieved. Further details of these milestones can be found in the Evergreen prospectus available here . Cadence’s shares are subject to a 2-year escrow agreement as determined by the listing rules of the ASX.
| For further information contact:
|
|
| Cadence Minerals plc | +44 (0) 20 3582 6636 |
| Andrew Suckling | |
| Kiran Morzaria | |
|
WH Ireland Limited (NOMAD & Broker) |
+44 (0) 207 220 1666 |
| James Joyce | |
| Darshan Patel
Enzo Aliaj |
|
| Brand Communications | +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green
|
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.
Cadence Minerals #KDNC – Corporate Update – Evergreen Lithium (ASX: EG1) identifies large-scale Lithium Pegmatite Targets at Bynoe
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that ASX listed Evergreen Lithium Limited (“Evergreen”) (ASX: EG1) has announced the results of its geochemical program at Bynoe. The soil samples show significant NE-trending lithium anomalism. The anomalies are up to several kilometres long and include anomalies in the geochemical pathfinder elements Beryllium (Be), Caesium (Cs), Potassium (K), Lanthanum (La), Rubidium (Rb), Tin (Sn) and Tantalum (Ta).
The Bynoe Project is located contiguous to Core Lithium’s (ASX:CXO) Finniss Project which contains an estimated Total Mineral Resource of 30.6Mt at 1.31% Li2O.
Cadence holds 15,830,138 million shares, equivalent to 8.74% of the issued share capital of Evergreen and is its largest shareholder. Evergreen was listed on the Australian Stock Exchange on 11 April 2023.
Bynoe Results – Highlights:
- Phase 2 soil geochemical results extend previously identified lithium anomalies and reveal two broad NE-trending zones which host multiple lithium pegmatite targets.
- These targets are along strike from and parallel to the strike of neighbouring spodumene bearing pegmatites.
- The lithium anomalies are coincident with lithium pathfinder elements Beryllium (Be), Caesium (Cs), Lanthanum (La), Rubidium (Rb), Tin (Sn) and Tantalum (Ta).
- Geochemical sampling and mapping are currently underway to further define existing and additional lithium pegmatite targets.
- Geophysical Ambient Noise Tomography (ANT) survey data has been received and interpretation is currently being undertaken.
Link here to view the full Evergreen ASX announcement
Evergreen Head of Exploration, Jason Ward commented: “These recent results add to the geochemical picture at Bynoe and indicate several very large zones of lithium anomalism. The lithium anomalies are supported by the pathfinder elements which are commonly associated with the surface expression of lithium bearing LCT pegmatites below. We will use this data together with the results of our recently conducted Fleet Exosphere ANT study, which we are currently analysing, to define drill targets.”
Background to Cadence’s investment in Evergreen Lithium
Cadence Minerals received approximately 15.8 million shares in Evergreen in July 2022 when Cadence sold its 31.5% stake in Lithium Technologies and Lithium Supplies (“LT and LS”) to Evergreen as announced on 27 June 2022. A further AS$ 3.47 million (£1.86 million) of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen. The pricing of Evergreen shares associated with this consideration is based on a defined pricing mechanism linked to the VWAP and the date at which the performance milestones are achieved. Further details of these milestones can be found in the Evergreen prospectus available here . Cadence’s shares are subject to a 2-year escrow agreement as determined by the listing rules of the ASX.
| For further information contact:
|
|
| Cadence Minerals plc | +44 (0) 20 3582 6636 |
| Andrew Suckling | |
| Kiran Morzaria | |
|
WH Ireland Limited (NOMAD & Broker) |
+44 (0) 207 220 1666 |
| James Joyce | |
| Darshan Patel
Enzo Aliaj |
|
| Brand Communications | +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green
|
Cadence Minerals #KDNC – Corporate Update – Evergreen Lithium (ASX: EG1)
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that ASX listed Evergreen Lithium Limited (“Evergreen”) (ASX: EG1) has announced that Geochemical results from its soil auger survey at the Kenny Project in Western Australia have identified Rare Earth Element (“REE”) targets, indicated by several Cerium and Lanthanum anomalies. Evergreen said that four priority REE target zones have been identified with CeO2 assay results showing maximum values up to 451ppm CeO2.
Evergreen’s Kenny project is located 50km east of Norseman and just 17km east of Liontown Resources’ (ASX: LTR) Buldania lithium deposit of 14.9Mt @0.97% Li20 (LTR, 2019).
Cadence holds 15,830,138 million shares, equivalent to 8.74% of the issued share capital of Evergreen and is its largest shareholder. Evergreen was listed on the Australian Stock Exchange on 11 April 2023.
Kenny Results – Highlights:
- Geochemical results from Evergreen’s soil auger survey at Kenny have identified Rare Earth Element (“REE”) targets, indicated by several Cerium and Lanthanum anomalies.
- Four priority REE target zones have been identified with CeO2 assay results showing maximum values up to 451ppm CeO2.
- A partial suite of REE’s were assayed as part of a multi-element assay method used to identify lithium and its pathfinder elements. The partial suite included three (3) REE elements: Cerium (Ce), Lanthanum (La) and Yttrium (Y).
- Assays of interest within the partial suite included maximum values, as converted to oxides, of 451ppm CeO2, 186.5ppm La2O3, & 62.4ppm Y2O3;
- CeO2, La2O3, & Y2O3 REE anomalies compare favourably to other first pass soil anomalies.
Link here to view the full Evergreen ASX announcement
Evergreen Head of Exploration, Jason Ward commented: “Geochemistry from our phase 1 soil auger sampling program has detected several anomalies in the rare earth minerals Cerium, Lanthanum and Yttrium. We are now undertaking further assays to determine the Total Rare Earth Oxide (TREO) of these samples, so that we can consider this information in our prioritisation of drill targets.”
Background to Cadence’s investment in Evergreen Lithium
Cadence Minerals received approximately 15.8 million shares in Evergreen in July 2022 when Cadence sold its 31.5% stake in Lithium Technologies and Lithium Supplies (“LT and LS”) to Evergreen as announced on 27 June 2022. A further AS$ 3.47 million (£1.86 million) of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen. The pricing of Evergreen shares associated with this consideration is based on a defined pricing mechanism linked to the VWAP and the date at which the performance milestones are achieved. Further details of these milestones can be found in the Evergreen prospectus available here . Cadence’s shares are subject to a 2-year escrow agreement as determined by the listing rules of the ASX.
| For further information contact:
|
|
| Cadence Minerals plc | +44 (0) 20 3582 6636 |
| Andrew Suckling | |
| Kiran Morzaria | |
|
WH Ireland Limited (NOMAD & Broker) |
+44 (0) 207 220 1666 |
| James Joyce | |
| Darshan Patel
Enzo Aliaj |
|
| Brand Communications | +44 (0) 7976 431608 |
| Public & Investor Relations | |
| Alan Green
|
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.
#KDNC Cadence Minerals PLC – Corporate Update – Evergreen Lithium (ASX: EG1)
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that ASX listed Evergreen Lithium Limited (“Evergreen”) (ASX: EG1) has announced the results of its auger geochemical programme at the Kenny project, which has resulted in the identification of significant and widespread lithium. The Kenny Project is located 50km east of Norseman and just 17km east of Liontown Resources’ (ASX:LTR) Buldania lithium deposit of 14.9Mt @ 0.97% Li2O.
Cadence holds 15,830,138 shares, equivalent to 8.74% of the issued share capital of Evergreen and is its largest shareholder. Evergreen was listed on the Australian Stock Exchange on 11 April 2023.
Kenny Results – Highlights:
· Geochemical anomalies indicate the potential for Lithium Caesium Tantalum (LCT) pegmatites at Kenny, evidenced by the presence of significant and widespread lithium.
· 5 priority lithium target zones have been identified with Li2O assay results showing maximum values up to 250 ppm Li2O.
· Lithium pathfinders of interest included maximum values of:
o 3.54ppm Be, 46.2ppm Cs, 5.17% K,159.00ppm La, 427ppm Rb & 11.9ppm Ta
· Further geochemical analysis is being undertaken to assess prospectivity for other critical minerals, including Rare Earth Elements.
· Results demand further work and planning for follow up exploration activities at Kenny is currently underway.
Link here to view the full Evergreen ASX announcement
Evergreen Head of Exploration, Jason Ward commented: “This is an excellent start for Evergreen Lithium. These geochemical results from Evergreen’s maiden soil auger program at the Kenny Project in WA show strong lithium values over a widespread area and the coincident anomalies in pathfinder elements have identified several compelling targets for LCT pegmatites. We look forward to following these up with further work including a drilling program.”
Evergreen Chairman, Simon Lill commented: “After a successful IPO listing based primarily on the Company’s flagship Bynoe Project, it is extremely pleasing to remind the market that we have other quality projects. These initial results should elevate Kenny’s status in shareholder perceptions.“
Background to Cadence’s investment in Evergreen Lithium
Cadence Minerals received approximately 15.8 million shares in Evergreen in July 2022 when Cadence sold its 31.5% stake in Lithium Technologies and Lithium Supplies (“LT and LS”) to Evergreen as announced on 27 June 2022. A further AS$ 3.47 million (£1.86 million) of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by Evergreen. The pricing of Evergreen shares associated with this consideration is based on a defined pricing mechanism linked to the VWAP and the date at which the performance milestones are achieved. Further details of these milestones can be found in the Evergreen prospectus available here . Cadence’s shares are subject to a 2-year escrow agreement as determined by the listing rules of the ASX.
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For further information contact:
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Cadence Minerals plc |
+44 (0) 20 3582 6636 |
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Andrew Suckling |
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Kiran Morzaria |
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WH Ireland Limited (NOMAD & Broker) |
+44 (0) 207 220 1666 |
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James Joyce |
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Darshan Patel Enzo Aliaj |
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Brand Communications |
+44 (0) 7976 431608 |
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Public & Investor Relations |
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Alan Green
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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.
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.