Auroch Minerals (ASX: AOU) - Gravity Survey Provides Compelling Drill Target at Arden.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Auroch Minerals Limited (ASX: AOU) ("Auroch") that it has successfully completed a detailed ground-gravity survey at its Arden Project (Arden) near Port Augusta, South Australia. The survey successfully delineated an intense gravity anomaly extending over 2km at the Ragless Range prospect. The anomaly may be indicative of thickened mineralised horizons of the high-grade zinc mineral smithsonite that was identified in drill-hole RRDD007, which has a very high density and hence contrasts greatly with the relatively low-density sedimentary host rocks of the area.
Highlights:
· A detailed ground-gravity survey was completed at the Arden Zinc Project in South Australia
· The high-resolution survey delineated a significant gravity anomaly extending over 2km at the Ragless Range prospect, coincident with areas of anomalous zinc values at surface
· The gravity anomaly may be indicative of thickened mineralised horizons of the high-density, high-grade zinc mineral smithsonite that was identified in drill-hole RRDD007, and provides a direct targeting tool for the next phase of drilling
· The Company continues to advance the Horn and Saints Nickel Projects in Western Australia towards a maiden drilling programme in the coming months
Located some 335km north of Adelaide, the Arden Project boasts a large relatively unexplored exploration area of 1,664km2 and is highly prospective for sedimentary-exhalative (SEDEX) mineralisation. Within the Arden Project, up to three horizons of SEDEX zinc mineralisation were identified from the recent drilling programme at the Ragless Range Prospect extending over 3km of strike and open in every direction.
Cadence currently owns approximately 6.5% of the equity in Auroch Minerals, which is an exploration company targeting principally zinc, cobalt and lithium.
The full release can be found at: https://www.investi.com.au/api/announcements/aou/7851ea69-490.pdf
Cadence Minerals CEO Kiran Morzaria commented: "Under the guidance of Aidan Platel and his team, the Auroch investment case continues to build. Cadence Minerals look forward to the next phase of developments."
