Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to note that
EMH has recently completed a drilling campaign at Cinovec South, comprising 22 diamond drill core holes for 6,622 metres, with the goal of increasing resource certainty in the existing resource model in and around the initial planned mining areas and upgrading part of the resource from the Indicated category to the higher confidence Measured category.
Highlights
Re-classification of 53.3 million tonnes (MT) into Measured resource category grading 0.47% Li2O and 0.08% Sn.
28.5 MT of Inferred resource upgraded to Indicated resource category
The Measured and Indicated resource has increased from 372.4 to 413.4 MT @ 0.47% Li2O and 0.05%Sn.
The total Measured, Indicated and Inferred resources have increased by 12.3MT to 708.2MT @ 0.43% Li2O and 0.05% Sn (0.1% Li (0.2153% Li2O) Cut-off).
Increase in overall resource to 7.39 MT LCE
Analysis received for final 10 diamond core holes in the Geomet s.r.o. drilling program including: Hole CIS-16 returned 101.7m averaging 0.59% Li2O, incl. 11.35m @ 0.85% Li2O
Hole CIS-32 returned 61m averaging 0.66% Li2O and 0.17% Sn, incl. 30.5m @ 0.30% Sn
Hole CIS-33 returned 113.3m averaging 0.54% Li2O, incl. 14.7m @ 0.60% Li2O
Hole CIS-34 returned 111.4m averaging 0.54% Li2O and 0.13% Sn, incl. 21.15m @ 0.71% Li2O and 0.57% Sn
'As we have reported previously, because zinnwaldite is paramagnetic, wet magnetic separation, the first stage of the ore processing has the effect of greatly increasing the grade of lithium oxide in the concentrate to approximately 2.85%. The zinnwaldite concentrate produced from Cinovec requires only roasting, compared to the calcination and roasting required of processing spodumene. This not only improves the economics, it will also have the effect of considerably reducing greenhouse gas emissions of the Project when compared to spodumene projects.'
Cadence CEO
Cadence holds approximately 9.7% percent of the equity in
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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 reect 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.
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