The company noted European Metals Holdings Limited, the project operator, has revealed that ongoing drilling continues to encounter resources. Infill drilling is targeting two gaps the existing resource model that could be mined in the initial years.
Five of six planned drill holes have so far been completed, with a total of 2,163 metres drilled.
Assays from drill hole CIS-4 returned continuous mineralised intercept with 148 metres at an average grade of 0.4% lithium. The company added that the upper section of the main lithium interval significant tin and tungsten mineralisation, with 15.85 metres at an average off 0.7% lithium, 0.29% tin and 0.073% tungsten.
Additionally, the company announced that it has now hired Craig Reimer as project manager for a definitive feasibility study.
Cadence has a 21% interest in the Cinovec project.