Business
Corporate Update - EG1 acquires Leonora Goldfields
Corporate Update - EG1 acquires Leonora Goldfields.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n\nCadence Minerals Plc\n \n(\"Cadence Minerals\", \"Cadence\", or \"the Company\")\n \nCorporate Update - EG1 acquires Leonora Goldfields Project,\nWA in transformational deal\n \nCadence Minerals (AIM: KDNC) is pleased to note that ASX listed Evergreen Lithium (\"EG1\") (ASX: EG1) has announced the acquisition of the Leonora Goldfields Project (\"LGP\"), located in WA's highly sought-after central gold district with a JORC 2012-compliant 63,000oz gold inferred resource. This marks a significant step in EG1's objective to transform into an emerging gold producer and a timely pivot towards the gold sector. Cadence is an 8.74% shareholder in EG1.\n \nThe LGP tenement package includes 13 granted mining leases and prospecting licences, along with an exploration licence and accompanying application, offering near-term development opportunities and substantial future resource growth potential.\n \nHighlights:\n· EG1 acquires the highly prospective Leonora Goldfields Project in WA with the potential to work towards becoming an emerging gold producer\n· The project, located in WA's central gold district comprises a mixed tenement package with a JORC 2012-compliant 63,000oz gold inferred resource\n· Exploration target up to 592,000oz gold @ 3.6 g/t Au, backed by historical data and recent drilling\n· Tenement package includes 13 mining leases/prospecting licence and two exploration-stage tenements\n· Situated near world-class gold deposits, including the +4Moz King of the Hills and +6Moz Sons of Gwalia, the project has prime access to outstanding mining infrastructure, with four processing plants located just within haulage range (<80km)\n· Evergreen plans to expedite exploration and development to move to gold production as soon as possible\n \nLink here to view the full EG1 ASX announcement\n \nEG1 Chairman Simon Lill commented: \"Acquisition of the Leonora Goldfields Project is a pivotal moment for Evergreen, ushering in a strategic transformation as the Company positions itself firmly in the burgeoning gold sector. With an inferred resource of 63,000 ounces of gold and an exploration target of up to 59...