Kiran Morzaria of Cadence Minerals discusses progress at Amapa & the Australian Lithium Projects Option

Kiran Morzaria CEO of Cadence Minerals #KDNC discusses progress at their Amapa Iron Project and the option they've granted to Castillo Copper to acquire their Litchfield and Picasso Lithium Projects in Australia.

Highlights
· ASX and London listed Castillo has a 90-day option to acquire - subject to due diligence - the Litchfield and Picasso Lithium Projects.

· Consideration for 100% of the holding companies which hold these assets (plus others) is up to AUS$ 3 million in equity of Castillo.

· Castillo is an Australian-based explorer primarily focused on copper across Australia and Zambia. The group is embarking on a strategic transformation to morph into a mid-tier copper group underpinned by its core projects.

· The Litchfield Lithium Project is contiguous to Core Lithium's (ASX: CXO) strategic Finniss Lithium Project which has JORC compliant ore reserves (7.4Mt @ 1.3% Li2O), with production slated to start in 2H 20221. There is potential for lithium pegmatite bodies along Litchfield's north-west boundary.

·The Picasso Lithium Project in WA is proximal to Liontown's Resources' (ASX: LTR) Buldania Project, with a JORC compliant resource at 14.9Mt @ 0.97% Li2O3 and has mapped pegmatites that potentially host lithium mineralisation.

Cadence Minerals
Cadence Minerals is an early stage investment and development company within the mineral resource sector and is listed as an investment company on the London Stock Exchange AIM market and the Aquis Stock Exchange, also based in London.

Our strategy is to identify undervalued assets, with irreplaceable strategic advantages that will deliver capital growth to our shareholders. We invest in these assets and where required help deliver capital growth.