Cadence Minerals PLC’s (LON:KDNC) investee company Auroch Minerals (ASX:AOU) has kicked off a second drill programme in as many weeks, with work now underway at the Bonaventura base metals project in South Australia.
Cadence currently owns a 7% stake in the Aussie-listed explorer. Auroch reported at the start of the month that drilling at the Arden project had begun and is now pushing ahead with concurrent drill campaigns at both sites.
The first hole has been drilled at the Dewrang target, where recent geophysical studies identified a “robust changeability anomaly” that sits between 150-200 metres below ground and continues over a strike of at least 1.5 square kilometres.
The programme, which is targeting high-grade zinc, lead and gold mineralisation at a handful of targets, will see Auroch drill up to 2,500m and is expected to take around eight weeks to complete.
“Once again Cadence Minerals are delighted by the rapid progress made by Aidan Platel and his team. Auroch Minerals is at a pivotal moment in its history as a company,” said Cadence chief executive Kiran Morzaria.
“This is best described by Aidan Platel's comments today: ‘In just four months we have concurrent drill programmes underway at both Arden and Bonaventura Projects over seven target areas, all of which have the ability to deliver the next major discovery in these respective areas.’”