Cadence Minerals plc investee has started initial augur sampling in its next round of field work at the Bynoe lithium project in the Northern Territory, Australia.
PRIORITY
Evergreen Lithium Ltd’s programme follows approval in May of its mine management plan, allowing high impact exploration activities.
Samples will be analysed in the field using portable X-ray fluorescence analysers (pXRF).
Rotary air blast / air core drilling is expected to begin shortly to test higher priority areas for prospective for lithium-caesium-tantalum pegmatites.
Other work planned for 2024 will include testing of geochemical and geophysical anomalies, with potential follow-up diamond drilling.
Cadence holds 15.8 million shares, representing 8.7% of the issued share capital, in Evergreen after selling its 31.5% stake in Lithium Technologies and Lithium Supplies to Evergreen in June 2022.
The company is due a further AS$3.47m (£1.86m) of Evergreen shares on certain performance milestones by its investee.