logo-loader
viewCadence Minerals PLC

Cadence Minerals pleased with Auroch Minerals' reconnaissance sampling at the Arden base metals project

The project is located in the world-class base-metal mining region of South Australia, which is host to numerous large base-metal deposits including the Beltana zinc deposit, the Angas zinc deposit and the Kanmantoo Copper deposit

Zinc on a periodic table
Cadence currently owns a 7.7% equity stake in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.

Auroch Minerals, in which Cadence Minerals PLC (LON:KDNC) has a stake, has announced results from reconnaissance sampling at the Arden base metals project.

During reconnaissance field mapping and sampling at the Arden project, extensive sedimentary exhalative-style base metal mineralisation was observed at three of the advanced target areas: Ragless Range, Radford Creek and Kanyaka.

READ: Cadence Minerals lifted by investee company Auroch Minerals' zinc projects purchase​

Sedimentary exhalative deposits, such as the giant Mt Isa deposit in Queensland, are globally significant in that they account for over half of the world's zinc and lead production.

High-grade zinc, copper and cobalt mineralisation was confirmed by laboratory analyses of rock-chip samples.

At Ragless Range, results from rock chips included 6.97% zinc (Zn), 6.53% Zn and 5.55% Zn.

At the Radford Creek lead-zinc (Pb-Zn) target results from rock-chips taken from existing trenches included 3.9% Pb & 1.7% Zn, and 2.9% Pb & 1.6% Zn.

At the Kanyaka copper-cobalt (Cu-Co) target results of rock chips taken from old workings included 12.4% Cu, 2.4% Zn and 0.5% Co plus 9.9% Cu, 4.0% Zn, 0.2% Co and 0.2 grams per tonne of gold.

"These very pleasing results confirm potential for a substantial zinc, lead, copper and cobalt play supported by excellent infrastructure,” declared Kiran Morzaria, chief executive officer of Cadence.

Cadence has a 7.7% equity stake in Australian explorer Auroch.

Shares in Cadence were up 2.2% in late-morning trading.

Quick facts: Cadence Minerals PLC

Price: 8.125 GBX

AIM:KDNC
Market: AIM
Market Cap: £8.57 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Summit Therapeutics' Glyn Edwards talks US$50mln backing and ridinilazole...

Summit Therapeutics PLC's (LON:SUMM, NASDAQ:SMMT) CEO Glyn Edwards sat down with Proactive London's Andrew Scott following the news of a US$50mln funding deal with biotech billionaire Bob Duggan. The investment will help get the company’s next-generation antibiotic through phase III clinical...

6 hours, 12 minutes ago

2 min read