Cadence Minerals Plc (LON:KDNC) has revealed that its investee company Auroch Minerals is now half way through its Tisová drilling program in the Czech Republic and has intersected the sulphide blanket as predicted in its 3D model.
In a statement, Cadence said Auroch’s second hole, TIDD003, intersected multiple zones of sulphide mineralisation with visible cobalt and copper minerals within a 130m thick zone containing 1-5% disseminated sulphides.
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Kiran Morzaria, Cadence’s chief executive officer, commented: "These are encouraging early results from Auroch Minerals drilling programme at Tisová and start to demonstrate the highly prospective nature of this property."
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Cadence currently owns a 7.7% equity stake in Auroch Minerals, which is an exploration company targeting principally cobalt and lithium.