Cadence Minerals plc this week noted the discovery of “very large zones” of lithium anomalism in progress from its two Australian investee companies.
BYNOE
Results from Evergreeen Lithium Ltd’s geochemical programme at its flagship Bynoe project in the Northern Territory showed anomalies “up to several kilometres long”.
Included are anomalies in the geochemical pathfinder elements beryllium, caesium, potassium, lanthanum, rubidium, tin and tantalum.
Current geochemical sampling and mapping will further define existing and additional lithium pegmatite targets.
Cadence holds 8.74% of the issued share capital of Evergreen and is its largest shareholder.
YANGIBANA
At the Yangibana rare earths project in Gascoyne, Western Australia, Hastings Technology Metals has introduced staged developments to reduce delivery risk and enable faster cash flow by Q1 2025.
Cadence said that stage I would be construction of the mine and beneficiation plant to produce rare earths concentrate.
Stage II involves development of a hydrometallurgical plant to produce mixed rare earth carbonate.
Total project capital cost is now estimated at $948 million, with the stage I component increasing from the 2020/21 estimate by 40% to $470m.
Construction of the beneficiation plant will begin during Q3 2023, supporting stage I concentrate delivery targeted for Q1 2025.
Discussions have started on concentrate offtake with rare earth oxides producers in Australia and offshore.
Cadence holds approximately 1.9% of Hastings’ issued share capital.