Cadence Minerals shares rose on Thursday after the company announced it had identified potential targets at its Torrens East Copper Project.
The mineral mining company said that it had completed a review historical geophysical, geological and drilling data at the South Australian project, identifying the targets.
The review indicated that Auroch’s exploration tenure a ‘likely eastern extension of the large Torrens JV gravity anomaly.’
Cadence Minerals CEO Kiran Morzaria commented: “Aidan Platel and his team continue to build the Auroch investment case. As stated in the announcement, recent peer exploration in the region has provided a blueprint for Auroch’s exploration plans, which all contribute towards refining possible future drill targets at Torrens East. We look forward to further developments”
Earlier this month, Cadence Minerals shares ticked up after the firm announced it had acquired three “highly prospective” Lithium Assets in Australia.
The acquisition involved the Picasso, Litchfield and Alcoota projects.
At the time of the announcement, shares rose more than 4%.
Other projects include Sonora lithium, Cinovec lithium, Auroch Minerals, San Luis Lithium, Yangibana Rare Earth project, Macarthur Minerals projects and Greenland Rare Earth Project.
Cadence Minerals is listed on the junior AIM market of the London Stock Exchange.
Shares in the firm (LON:KDNC) are currently +14.29% as of 10:54AM (GMT), as investors react to the update.