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Cadence Minerals rises after Auroch Minerals kicks off maiden drilling campaign at Arden

The initial drilling programme intends to test for the Sedex zinc horizon along strike and at depth below the limit of oxidation, something never previously tested by the initial exploration work done by Kennecott

Mining helmets
Rock-chip samples assaying as high as 12.4% copper, 2.4% zinc and 0.5% cobalt present exciting drill targets

Shares in Cadence Minerals PLC (LON:KDNC) rose on Wednesday after it flagged a statement from Auroch Minerals, in which it has a 7% stake.

Auroch Minerals (ASE:AOU) has started drilling at its Arden base-metals project in South Australia.

READ: Cadence Minerals ‘delighted’ with activity at Auroch Minerals Arden project

The maiden drill programme was initiated at the first planned drill-hole location at the Ragless Range Target, where the initial drill-hole is targeting the depth extensions of a high-grade zinc sedimentary-exhalative. In addition to the Ragless Range target, the maiden drilling programme at the Arden project will also test the base-metals potential at the Radford Creek and Kanyaka prospects, where rock-chip samples assaying as high as 12.4% copper, 2.4% zinc and 0.5% cobalt present exciting drill targets, Cadence reported.

"Along with Aidan Platel and the Auroch team, myself and the staff at Cadence are wholly enthused by the sheer potential of the Arden base-metals project,” said Kiran Morzaria, the chief executive officer of Cadence.

“Drilling is expected to take around six weeks to complete, with results published as soon as they become available," he added.

Shares in Auroch closed at A$0.11 on Thursday, up 4.8%. Cadence shares were trading 3.8% higher at 0.2p in London.

Quick facts: Cadence Minerals PLC

Price: 9.25 GBX

Market: AIM
Market Cap: £11.96 m

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