REG - Cadence Minerals PLC - EverGreen – Spodumene Discovery at Bynoe Project

Cadence MineralsAnnouncement

29/10/2024 09:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241029:nRSc0332Ka&default-theme=true

RNS Number : 0332K  Cadence Minerals PLC  29 October 2024

Cadence Minerals Plc

 

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

 

EverGreen - Spodumene Discovery at Bynoe Project

 

Cadence Minerals (AIM: KDNC) is pleased to announce the discovery of
spodumene-bearing pegmatites at the Bynoe 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/EG1/02872897.pdf) to
view the full Evergreen ASX announcement

 

Highlights:

 

•      Initial results from the ongoing AC drilling program along Line
6 on the western flank have confirmed multiple intersections of
spodumene-bearing pegmatites

•      The pegmatite intersections have initially been confirmed in
four drill holes - 349, 350, 351, and 352 - with downhole intervals of up to
10m

•      Sporadic spodumene crystals were observed in air-core chips
within the oxidised and leached pegmatites

•      Initial interpretation indicates multiple stacked,
shallow-dipping pegmatites, like lithium-bearing systems like Hang Gong and
Lees Booth

•      Ongoing pegmatite analysis will guide exploration strategies,
including deeper RC drilling and optimal drill hole orientation and spacing

 

EverGreen announced significant progress in its ongoing exploration program at
the Bynoe Project, located 50km south of Darwin in the Northern Territory.
Preliminary results from air-core drilling along Line 6 on the western side of
Evergreen's Bynoe project have confirmed multiple spodumene bearing pegmatite
intersections, demonstrating Bynoe project's lithium potential.

 

Evergreen Exploration Manager Andrew Harwood commented: "The recent drilling
results along Line 6 are very promising, strengthening our confidence in the
lithium potential at the Bynoe Project. It's exciting to have encountered
blind pegmatites early in our reconnaissance air-core drilling program. With
numerous targets still to explore, we anticipate more significant discoveries.
Our geological team is diligently analysing the data to enhance our
understanding of the pegmatite system. Comparisons with nearby prospects, such
as Hang Gong, highlight the potential scale of Bynoe's system. We are planning
deeper RC drilling and optimising our air-core program to fully assess these
promising targets."

 

Figure 1: Bynoe Project, showing new discovery zone and areas of planned
drilling

 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCPPGCUUUPCUBB