viewCadence Minerals PLC

Cadence Minerals says new high-priority drill target identified at Bonaventura project

Cadences said anomalies have indicated potential for the presence of high-grade base metal sulphides, making the Dewrang Target a high-priority area for exploration

Cadence Minerals owns a 6.7% stake in Auroch Minerals

Cadence Minerals PLC (LON:KDNC) said Auroch Minerals has identified a fourth high-priority drill target at its wholly-owned Bonaventura project in South Australia.

The AIM-listed company said Auroch, in which it holds a 6.7% equity stake, discovered the Dewrang Target following interpretation of a recently completed induced polarisation (IP) survey that confirmed the “significant exploration upside and potential of the Bonaventura project”.

The IP survey at the Dewrang Target showed two highly-chargeable anomalies at about 200m depth over a strike length of over 400m.

READ: Cadence Minerals: Auroch Minerals completes geophysical reinterpretation at Bonaventura

Anomalies indicated potential for the presence of high-grade base metal sulphides, making the Dewrang Target a high-priority area for exploration.

Exploratory drilling at the project of up to 2,500m will begin in the third quarter, targeting highly-prospective copper, zinc and gold prospects.

"The early results from the Auroch Induced Polarisation survey are nothing short of spectacular," said Cadence chief executive Kiran Morzaria.

"IP results have not only confirmed drill-ready targets at Auroch's priority Vinco and Grainger prospects, but results from the new fourth drill Dewrang Target shows the IP chargeability anomaly is more than twice as strong than at Grainger."

Quick facts: Cadence Minerals PLC

Price: 8.175 GBX

Market: AIM
Market Cap: £8.62 m

Add related topics to MyProactive

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


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...



Polymers specialist Itaconix 'accelerating' revenue post trading update

Polymers specialist Itaconix (LON:ITX) tells Proactive London it will accelerate “key revenue opportunities” on the back of its figures announcement today. CEO John Shaw acknowledges Itaconix's full-year sales are below current market expectations but explains this is due to fast company growth...

4 hours, 25 minutes ago

2 min read