Cadence Minerals Plc (LON:KDNC) said Auroch Minerals has completed a reinterpretation of historical geophysical data at its Bonaventura project in South Australia.
The AIM-listed miner said Auroch, in which it holds a 7.7% stake, had identified 17 target areas at the project, while the geophysical data was coincident with high-grade target areas identified from Auroch's ground reconnaissance and would assist in the definition of drill targets for zinc, lead, copper and gold mineralisation.
READ: Cadence Minerals: Auroch unearths high-grade zinc and gold at Bonaventura project
Cadence added that a new IP survey had been planned for 3 high-priority target areas and would commence in June.
Kiran Morzaria, chief executive of Cadence, commented: "The reinterpretation of the historical geophysical data and the identification of 17 exploration target areas confirms the exciting potential of the Bonaventura Project for both base-metal and precious-metal mineralisation."
In late-afternoon trading Monday, Cadence shares were down 4.4% at 0.21p.