Business
Update - Lithium Assets in Argentina
Update - Lithium Assets in Argentina.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 8723R Cadence Minerals PLC 19 June 2018 \n\n \nCadence Minerals Plc\n \n(\"Cadence Minerals\", \"Cadence\" or \"the Company\")\n \nLithium Assets in Argentina High Priority Prospective Areas Identified\n \nCadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) announced on 22 March 2018 that a project had commenced its initial exploration programme on six high-quality lithium assets in San Luis Province, Argentina. The Company is now pleased to inform shareholders that a series of intensive desktop studies, which identify high-priority areas prospective for lithium exploration within the known spodumene bearing pegmatite fields, have now been completed. The Company currently owns 4% via an earn-in, further details of which are provided at the end of this RNS.\n \nHIGHLIGHTS\n· The investee's geology team, utilising a range of remote sensing and geographical information system (GIS) tools, have completed several desktop studies which identify highly prospective areas for lithium mineralisation in known spodumene bearing pegmatite bodies in San Luis Province, Argentina\n· Encouragingly, there are multiple indicators that confirm the presence of spodumene bearing pegmatite bodies including geological structural features, aero-magnetic radiometric data analysis, satellite imagery and differentiation in granitic bodies.\n· A sophisticated ranking system clearly delineates high-priority target areas based on pegmatite density and mass (estimated from extrapolating the exposed surface area), then reconciling these with soft variables such as vehicle accessibility and time to commence ground field exploration activities\n· The net result is that out of the 55,773 hectares, comprising the six assets total area, the geology team have identified 10,049 hectares as high-priority areas for the next phase of the exploration programme\n· Finalised Environmental Impact Assessments have been submitted to the mining regulator for these high priority areas, with applications for drilling permits to follow\n· The project team are now in discussions with third party suppliers, including drilling contractors, and intend to fast-track the next phase of exploration a...