Perth, Oct 19, 2016 AEST (ABN Newswire) - Ardiden Limited (ASX:ADV) is pleased to provide an update on recently completed exploration, mapping and sampling programs at the Seymour Lake and Root Lake lithium projects and the Manitouwadge graphite project, all of which are located in Ontario, Canada.

The recent programs have laid the foundations for the next phase of evaluation and resource development at these projects, which the Company will further elaborate on in the near future.

HIGHLIGHTS:

Seymour Lake Lithium Project

- Excavation program successfully completed around North Aubry, South Aubry and Pye prospects

- Extensive spodumene zones identified in newly exposed pegmatites

- Data collation, ground truthing and 3D modelling almost complete

- Final preparations underway for upcoming diamond drilling program, due to commence later this month

Manitouwadge Graphite Project

- Structural and geotechnical logging of drill core from Silver Star North prospect completed by Ardiden's geological team, in conjunction with a limited exploration program around the prospect

- The additional data will assist the Company with the design of the upcoming drill program

- Preparations underway for upcoming drilling program

Root Lake Lithium Project

- A geological team have completed the 2016 mapping and channel sampling program on the newly acquired Root Lake Lithium Project in Ontario, Canada.

- 2016 sampling results will be used to validate historical data set and to confirm the structural orientation of the pegmatite structures. All data collected will be included in any future resource models.

- Survey of the current prospect also completed, resulting in the identification of extensions of the known pegmatite structures and the discovery of new pegmatite exposures.

- Negotiation Protocol Agreement executed with the Slate Falls and Cat Lake First Nations.

SEYMOUR LAKE LITHIUM PROJECT

Ardiden's geological team has successfully completed the first phase of a limited excavation program which focused on extending the exposure of the known lithium mineralisation zones around the North Aubry, South Aubry and Pye prospects. Further, the program allowed the exposure of a number of additional, newly identified pegmatites to be extended.

The excavation program has now successfully identified numerous and extensive spodumene (lithium hosting) mineralisation zones in the pegmatite exposures (refer to Figures 2 & 3 in the link below), all of which located within the immediate project area. Further exploration, sampling and excavation programs will be undertaken in the future to extend the exposure of the multiple known mineralised zones in a Southerly direction to assist in project planning.

Ardiden confirms that QAQC field and laboratory checks have been completed on the data collected for this first phase of exploration. This new data has been reconciled with the historic lithogeochemical results, grab and channel samples and the drilling assay results to create a comprehensive database.

This database will assist the Ardiden geological team with the next phase of excavation, mapping and 3D modelling of the known lithium mineralisation zones and structures.

The 3D model and database should assist the Company's geological team identify sufficient mineralisation to underpin resource delineation drilling programs, which will be aimed at defining a lithium resource in accordance with JORC (2012) guidelines. Final preparations are now almost complete for the upcoming drilling program, which is due to commence later this month.

MANITOUWADGE GRAPHITE PROJECT

The Company's geological team has also completed structural and geotechnical logging and analysis of drill core from the Silver Star North prospect, obtained during the 2015 drill program at the 100%-owned Manitouwadge Graphite Project.

Additionally, the team has completed a ground truthing exercise around the prospect to confirm the known orientation, structural controls and morphology of the graphite mineralisation zones.

This additional information from the Silver Star North prospect should assist the Company's geological team to identify sufficient mineralisation to underpin resource delineation drilling programs, which are aimed at defining a graphite resource in accordance with JORC (2012) guidelines.

Preparations and planning are now underway for an upcoming drilling program, which is due to commence late next month.
ROOT LAKE LITHIUM PROJECT

The Company's geological team has now also completed the 2016 exploration, mapping and sampling program at the 100%-owned Root Lake lithium project. This program was undertaken in conjunction with a further in-depth analysis of the current and historical drill and sampling data from the project.

The exploration program included detailed geological and structural mapping in order to develop a better understanding of the known pegmatites and the influence of the surrounding structures at the Root Lake Project. The geological team were able to confirm the extension of the pegmatite exposures of the Root Lake prospect about 150m further to the west, which will be the focus of exploration at the project during the 2017 field season.

The Company's geological team obtained grab and channel samples from the known outcropping pegmatite structures at the Root Lake prospect.

During this mapping and exploration program, channel and grab samples were taken to reconcile the quality of the historical data previously obtained from the Root Lake prospect. These samples are also being used to confirm the grade of the lithium mineralisation identified during the mapping phase of this program.

The assay results from 50 channel samples have confirmed the presence of several broad zones of - lithium mineralisation, up to 4m wide with one zone having an average grade of 2.49% Lithium Oxide (Li2O) from Channel CM-CH-16-01. Also of note is the 4m wide lithium mineralised zone in Channel GDWCH-16-03, which averages 1.72% Li2O.

All channels from the program reported with lithium mineralisation, including an exceptional grade of 3.51% Li2O being identified at the Root Lake prospect in Channel CM-CH-16-01.

The logging of the channel samples again confirmed that the mineralisation is associated with spodumene. In addition, the assay results confirmed the visual logging grade estimates, with 64% (32 samples) of all channel samples returning assay results greater than 0.5% Li2O and 38% (19 samples) of channel samples with grades above 1.5% Li2O.

Table 1 (see link below) highlights the various intervals of significant lithium mineralisation obtained from 11 different channels completed at the Root Lake prospect. Not all assay results from the channel samples have been reported in this announcement.

Although the Company's recent focus has been on the development of the Seymour Lake Lithium Project, the Ardiden geological team was also tasked to undertake a limited exploration program to identify further pegmatite exposures surrounding the Root Lake prospect. Even though some of terrain at Root Lake is quite challenging with a number of low-lying swampy areas, the team was still able to locate approximately 20 new pegmatite dykes, structures, exposures and boulders at various locations throughout the project claims.

Not all of these new pegmatites contained visible spodumene, but Ardiden considers the identification of new pegmatite structures and exposures in previously unexplored areas of the project as a very encouraging indication that the project could host a number of larger spodumene bearing structures.

Further detailed exploration and mapping are required to allow the Company to develop a better understanding of the orientation, structural controls and morphology of the pegmatites at the Root Lake Project. It is likely that these additional programs will be undertaken by Ardiden during next year's field season.

ROOT LAKE FIRST NATION GROUPS

Ardiden is pleased to confirm that it has successfully negotiated and executed a Negotiation Protocol Agreement between the Company and the local Slate Falls and Cat Lake First Nations Groups.

This agreement helps to strengthen relations and provides guidelines on how the Company and the First Nation Groups can work together and establish commercial processes which are mutually beneficial for all parties for the development of the Root Lake Lithium Project.

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About Ardiden Ltd

Ardiden LtdArdiden Limited (ASX:ADV) is an emerging international strategic metals company which is focused on the exploration, evaluation and development of two 100 per cent owned projects located in the established mining jurisdiction of Ontario, Canada.

 


Contact

Ardiden Ltd
E: info@ardiden.com.au
WWW: www.ardiden.com.au

Investors:
Brad Boyle
Ardiden Ltd
Tel: +61-8-6555-2950

Media:
Nicholas Read
Read Corporate
Mobile: +61-419-929-046



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