logo-loader
viewCadence Minerals PLC

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%

australia
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: 6.25 GBX

AIM:KDNC
Market: AIM
Market Cap: £6.59 m
Follow

Add related topics to MyProactive

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

NO INVESTMENT ADVICE

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Revenue guidance from OptiBiotix as it eyes NASDAQ listing

OptiBiotix Health (LON:OPTI) provides a commercial progress update, explaining why in their financials some items are separated. CEO Stephen O'Hara tells Proactive London what's behind his thinking adding that Optibiotix hopes to reach profitability in 2020. News here too on Sweetbiotix and...

1 day, 15 hours ago

2 min read