Cadence Minerals PLC (LON:KDNC) has noted that one of its portfolio companies, 7.7%-owned Auroch Minerals has started drilling at the Alcoutim copper/zinc project in Portugal ahead of schedule.
The first hole will take between 4 and 6 weeks to complete and is situated at Foupana, one of 5 priority targets to be drilled and a large magmatic centre.
Alcoutim's targets occur along strike of the supergiant Neves Corvo Cu-Zn-Pb-Ag-Au mine operated by Lundin Mining Corporation.
Auroch's initial drill program will comprise tree to five holes targeting geological environments similar to Neves Corvo in combination with significant geophysical anomalies along the Neves Corvo trend.
Separately, Cadence noted the announcement from Bacanora Minerals Ltd (LON:BCN), where it owns a 17.18% direct stake and other indirect holdings, that the feasibility study for the Sonora lithium deposit in Mexico is now scheduled to be published in late 2017.