REG - Cadence Minerals PLC - EverGreen – RC Drilling Commenced at Bynoe Project

Cadence MineralsAnnouncement

18/11/2024 07:00

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RNS Number : 5880M  Cadence Minerals PLC  18 November 2024

Cadence Minerals Plc

 

("Cadence Minerals", "Cadence", or "the Company")

 

EverGreen - RC Drilling Commenced at Bynoe Project

 

Cadence Minerals (AIM: KDNC) is pleased to announce the start of RC drilling
at the Byone Project by ASX-listed Evergreen Lithium Limited ("EverGreen")
(ASX: EG1). Cadence is an 8.74% shareholder in EverGreen. Link here
(https://wcsecure.weblink.com.au/pdf/EG1/02881685.pdf) to view the full
Evergreen ASX announcement

 

Highlights:

 

•      Following a successful Aircore drilling campaign, RC drilling
has commenced at Bynoe, targeting deeper lithium mineralisation

•      Recent AC drilling results confirmed multiple priority targets
for deeper drilling

•      Initial interpretations indicate the presence of multiple
stacked, shallow-dipping pegmatites, resembling prominent lithium-bearing
systems in the area, highlighting Bynoe's potential in this region

Following the encouraging initial air-core (AC) drilling results, a Reverse
Circulation (RC) rig has been deployed to the site.

 

This new drilling phase aims to explore priority targets identified through
Aircore drilling, with particular interest in the recently announced Line 6
target, which has demonstrated significant lithium potential.

 

Figure 1: RC Drilling begins at Byone

 

The deployment of the RC rig marks a major step forward in EverGreen's
exploration strategy. The recent phase of air-core drilling at Byone is
complete, with 297 drill holes covering 6,456 meters. Initial results were
encouraging, with interpretation indicating multiple stacked, shallow-dipping
pegmatites, similar to lithium-bearing systems like Hang Gong and Lees Booth.

 

 For further information contact:

 Cadence Minerals plc                                         +44 (0) 20 3582 6636
 Andrew Suckling
 Kiran Morzaria

 Zeus Capital Limited (NOMAD & Broker)                        +44 (0) 20 3829 5000
 James Joyce
 Darshan Patel

 Isaac Hooper

 Fortified Securities - Joint Broker                          +44 (0) 20 3411 7773
 Guy Wheatley

 Brand Communications                                         +44 (0) 7976 431608
 Public & Investor Relations
 Alan Green

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information
contained in this announcement. Kiran holds a Bachelor of Engineering
(Industrial Geology) from the Camborne School of Mines and an MBA (Finance)
from CASS Business School.

 

Cautionary and Forward-Looking Statements

Certain statements in this announcement are or may be deemed to be
forward-looking statements. Forward-looking statements are identified by
their use of terms and phrases such as "believe", "could", "should",
"envisage", "estimate", "intend", "may", "plan", "will", or the negative of
those variations or comparable expressions including references to
assumptions. These forward-looking statements are not based on historical
facts but rather on the Directors' current expectations and assumptions
regarding the company's future growth results of operations performance,
future capital, and other expenditures (including the amount, nature, and
sources of funding thereof) competitive advantages business prospects and
opportunities. Such forward-looking statements reflect the Directors' current
beliefs and assumptions and are based on information currently available to
the Directors.  Many factors could cause actual results to differ materially
from the results discussed in the forward-looking statements, including risks
associated with vulnerability to general economic and business conditions,
competition, environmental and other regulatory changes actions by
governmental authorities, the availability of capital markets reliance on key
personnel uninsured and underinsured losses and other factors many of which
are beyond the control of the company. Although any forward-looking statements
contained in this announcement are based upon what the Directors believe to be
reasonable assumptions. The company cannot assure investors that actual
results will be consistent with such forward-looking statements.

 

The information contained within this announcement is deemed by the company to
constitute Inside Information as stipulated under the Market Abuse Regulation
(E.U.) No. 596/2014, as it forms part of U.K. domestic law under the European
Union (Withdrawal) Act 2018, as amended. Upon the publication of this
announcement via a regulatory information service, this information is
considered to be in the public domain.

 

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