Business
Castillo Litchfield Lithium Due Diligence Update
Castillo Litchfield Lithium Due Diligence Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3815O\n Cadence Minerals PLC\n 07 October 2021\n \n \n \n \n Cadence Minerals Plc \n \n \n \n \n \n (\"Cadence Minerals\", \"Cadence\")\n \n \n \n \n \n \n Castillo Copper (ASX/LON: CCZ) Identifies \n \n \n Significant pegmatite outcropping along Litchfield Lithium Project's western boundary.\n \n \n \n \n \n \n Further to the announcement of 29 September 2021, Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that initial due diligence undertaken by Castillo Copper (ASX/LON: CCZ) (\"Castillo\") on the Litchfield Lithium Project in Australia's Northern Territory has highlighted significant pegmatite outcropping along the north-west boundary. This follows the Castillo announcement on Monday October 4th 2021, that preliminary due diligence on the Picasso Lithium Project, near Norseman in Western Australia, has verified multiple lithium surface occurrences across the tenure that align with pegmatite outcropping.\n \n For full release of the Castillo announcement, please see here\n \n \n \n \n Highlights:\n \n \n \n \n \n · \n Follow up site visit to the Litchfield Lithium Project in the Northern Territory highlighted significant pegmatite outcropping along the western boundary\n \n \n · \n This is contiguous to Core Lithium's (\"CXO\") (ASX: CXO) Finnis Lithium Project1 which has JORC compliant ore reserves (7.4Mt @ 1.3% Li2O)1\n \n \n · \n With satellite imagery2 verifying the geology in the Litchfield Lithium Project (NW quadrant) is comparable to CXO's ground, CCZ is awaiting assay results on 657 surface samples (taken along the NW boundary) to determine the potential for contiguous mineralisation:\n \n \n • Encouragingly, the site-visit geological reports noted the areas sampled mostly comprised metamorphic rocks linked to the Burrell Creek formation - a host rock for the regional occurrences of pegmatites.\n \n \n As announced on September 29th 2021 by Castillo, satellite imagery has verified the geology along the Litchfield Lithium Project's north-west boundary is comparable to CXO's ground. Cadence's geological consultant conducted intensive surface sampling across four target areas within the NW quadrant, taking 657 samples to determine...