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Cadence Minerals: Auroch Minerals expands footprint in South Australia

Auroch has increased its exploration tenure at the Arden and Bonaventure projects in South Australia by 55%

The three new licences are considered highly prospective for zinc, copper, gold and cobalt

Cadence Minerals PLC’s (LON:KDNC) investee company Auroch Minerals has significantly expanded its footprint across the Arden and Bonaventura projects in South Australia.

The new licences, which increase the exploration tenure at the projects by 55%, are considered highly-prospective for base-metals and add momentum to Auroch's aggressive exploration programmes, with drilling already underway at both Arden and Bonaventura.

READ: Cadence Minerals ‘greatly encouraged’ by Macarthur exploration

The two projects now encompass a total of 2,079 square kilometres within the Adelaide Geosyncline.

“Auroch CEO Aidan Platel and his team continue to blaze a trail at both Arden and Bonaventura projects, the quality and potential of which is already well documented,” said Cadence chief executive Kiran Morzaria.

“Expanding the project area by 55% and adding these new licenses adds considerable scope for additional discoveries and further underpins the potential of these world-class assets.”

Shares in Cadence, which owns a 7% stake in Auroch, were untraded at 0.17p on Thursday.

Quick facts: Cadence Minerals PLC

Price: 13 GBX

Market: AIM
Market Cap: £18.23 m

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