Cadence Minerals sees continued momentum at Arden and Bonaventura projects

Cadence Minerals has seen momentum at the Arden and Bonaventura projects continue to build since its last update, with drilling now expected to kick off by the end of July.

Exploration firm Auroch Minerals, which Cadence holds a 7% interest in, has partnered with DDH1 Drilling for what it refers to as an "aggressive maiden drilling programme", targeting up to 5,000m of high-grade base-metals and gold mineralisation across seven high-priority target areas.

Auroch's Arden drill programme was set to target high-grade zinc, copper and cobalt mineralisation across three identified prospects while the Bonaventura drill programme will explore high-grade zinc, copper and gold mineralisation across four high-priority target areas.

The drilling programmes will be fully-funded from Auroch's strong balance sheet.

Kiran Morzaria, Cadence Minerals' chief executive, said, "Following on from the early IP survey results, we are as enthused as the management team at Auroch at the quite exceptional potential of the prospects at Arden and Bonaventura projects."

"To have seven high-priority drill targets with great potential for high-grade mineralisation and significant scale for our maiden programme is quite extraordinary; we really are just seeing the tip of the iceberg in terms of exploring the large areas covered by our two projects," added Auroch's chief executive, Aidan Platel.

As of 1200 BST, Cadence shares had dropped 5.11% to 0.21p.