Cadence Minerals Plc (LON:KDNC) said investee firm Auroch Minerals has announced mixed assay results for the first two holes of the 4-hole drilling program at Tisová in the Czech Republic.
The group said Auroch’s statement showed that cobalt and copper assay results from Tisová have not replicated the results obtained from grab samples reported from historic waste dumps on site, although gold results - including 8m@0.97 grammes per tonne - are closer to expectations.
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Auroch said the cobalt and copper results are both lower grade, and across narrower intervals than expected from the visual logging of the core.
It added that samples from the final two holes have been dispatched to the laboratory and results are expected by the end of December.
Cadence currently owns a 7.7% equity stake in Auroch Minerals, which is an exploration company targeting principally cobalt and lithium.