Cadence Minerals PLC Update - European Metals Holdings (4520R)
February 28 2019 - 5:49AM
UK Regulatory
TIDMKDNC
RNS Number : 4520R
Cadence Minerals PLC
28 February 2019
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
European Metals (AIM: EMH) Cinovec Drill Programme Update.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note
the Cinovec Project drilling results published today by European
Metals Holdings Limited ("European Metals" or "EMH"). Initial
results from its current eight core-hole resource drilling
programme announced by the Company on 5 November 2018 confirms that
drilling of five of the eight holes has been completed. Drilling
activities remain suspended and will resume after the end of the
snow season. Analytical results for the fifth of the drill holes
from the Cinovec South deposit are reported.
Key Points:
-- Hole CIS-14 returned 67m averaging 0.43% Li2O (incl. 3m @
0.99% Li2O and 0.18% Sn); 8m @ 0.67% Li2O and 0.20% Sn (incl. 4.15m
@ 1.00% Li2O and 0.35% Sn); 8m @ 0.21% Sn, 4m @ 0.39% Sn; and 3m @
0.20% Sn.
The drill hole results are very similar to predictions from
European Metals' current geological model, again demonstrating the
quality and robustness of the geological and resource model.
Lithological intervals, incl. rhyolite / granite contact and
zones of alteration, were intersected where predicted with a high
level of accuracy. Also, the Li, Sn and W grades measured
corresponded to the block model.
Cadence holds approximately 19.1 percent of the equity in
European Metals, which, through its wholly owned Subsidiary, Geomet
s.r.o., controls the mineral exploration licenses awarded by the
Czech State over Cinovec.
The full release can be found at:
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13984412.html
Cadence Minerals CEO Kiran Morzaria commented: "Once again
Cadence are pleased to note the progress made by CEO Keith Coughlan
and the European Metals team at the Cinovec lithium and tin project
drilling programme. As Keith points out in the EMH announcement,
the drilling results have either been in line with, or exceeded
expectations set out by the geological and resource model, so we
now look forward to the impact of these results on the project
economics over the next few weeks."
- Ends -
For further information:
Cadence Minerals plc +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Hannam & Partners LLP (Joint Broker) +44 (0) 207 907 8500
Neil Passmore
Giles Fitzpatrick
Novum Securities Limited (Joint
Broker) +44 (0) 207 399 9400
Jon Belliss
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.
Forward-Looking Statements:
Certain statements in this announcement are or may be deemed to
be forward-looking statements. Forward-looking statements are
identi ed 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 re ect
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.
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 or visit www.rns.com.
END
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