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Exploration of Argentinan Lithium Assets Commences
Exploration of Argentinan Lithium Assets Commences.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 5207I Cadence Minerals PLC 22 March 2018 \n\n22 March 2018\nCadence Minerals Plc\n \n(\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \nExploration Programme on Lithium Assets in Argentina Commences\nCadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) announced on 11 December 2017 that it had entered into binding agreements to acquire up to 100% of six high-quality lithium assets in Argentina. The Company is now delighted to inform shareholders that the initial exploration programme on these assets in the San Luis Province has started.\nHIGHLIGHTS\n· Detailed desktop and remote exploration started over 55,773 hectares within the known spodumene bearing pegmatite fields in San Luis Province, Central Argentina.\n· Work includes high-resolution satellite imagery interpretation to map pegmatites or other potential lithium bearing host rock.\n· The pegmatite fields of San Luis have an important past record of producing mica, beryl, spodumene, tantalite (tantalum oxide), columbite (niobium oxide), and recently potassium feldspar, albite and quartz.\n· Based on results we will develop a ranked target list of prospective pegmatites for further exploration, sampling and drilling.\n· Cadence has completed Stage 1 of the 5-stage timetable to acquire up to 100% of the assets.\nThe Initial exploration programme which is targeted to complete in approximately 4-6 months, has been designed to provide the Company with a thorough understanding of the pegmatite geology and extent of lithium mineralisation. \nThe first part of this programme consists of detailed desktop work that is undertaken remotely, which is followed up by field work to reconcile the findings and identify key pegmatite targets. At the conclusion of this process and upon regulatory approval, the exploration program will move into sampling these targets and, if successful, exploratory drilling and the definition of mineral resources.\nKiran Morzaria, Chief Executive Officer, added:\n\"We are very excited to have started exploration on the San Luis lithium prospects. The initial remote exploration expects to identify pegmatites that are exposed at the surface, which will provide low-cost exploration targets for sampling and, if appropriate, drilling.\"\n \"Our long-term goal is to i...