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EMH - Drill Results, Appointment and Equity Issue
EMH - Drill Results, Appointment and Equity Issue.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 1590O Cadence Minerals PLC 16 August 2017 \n\nCadence Minerals Plc\n(\"Cadence Minerals\"or \"Cadence\")\nDrill Results and Appointment of DFS Study Manager\nCadence (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that European Metals Holdings Limited (\"EMH\" or \"the Company\") has reported on its ongoing infill drilling program and announced analytical results for the first drillhole CIS-4 at the Cinovec Lithium-Tin Project (\"the project\" or \"Cinovec\"). \nIn addition, the Company is pleased to announce the appointment of Mr Craig Reimer as the Project Manager of its Definitive Feasibility Study.\nThe full EMH release is available at: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13331231.html\nIn addition and as a result of the announced issue of equity by EMH of 351,448 new ordinary shares (represented by Chess Depositary interests or \"CDI's\") in EMH at a price of AUD0.7327, Cadence now holds a 20.5% economic interest in Cinovec, via its interest in EMH. \nThe full EMH release is available at: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EMH/13331576.html\nHighlights - Drill Program Announcement\n· Infill drilling continues in the southwest section of the deposit, targeting two 'gaps' in the resource model that could potentially be mined in the initial years. \n \n· Altogether, five out of 6 planned drillholes have been completed this year, for a total of 2163.1m. \n \n· Assays have been received for the first drillhole CIS-4, which returned a continuous mineralized intercept of 148.30m averaging 0.40%Li2O, starting at 297.7m drill string depth.\n \n· In addition, the upper section of the main lithium interval contains significant tin and tungsten mineralization: 15.85 meters averaging 0.70% Li2O, 0.29% tin and 0.073% tungsten. \n \n· Experienced Project Manager, Craig Reimer has been appointed to head the Company's Definitive Feasibility study.\n \nDrill Program\n \nThe current six-hole drill program at Cinovec South is planned to focus on infill drilling in two areas where data density is low and 'gaps' in the resource model occur. There are the expe...