Drilling Continues to Expand Spodumene-Bearing Zones
Perth, Nov 23, 2016 AEST (ABN Newswire) - Lithium and graphite explorer Ardiden Limited (
ASX:ADV) is pleased to provide an update on the resource delineation diamond drilling program currently underway at its majority owned Seymour Lake Lithium Project in Ontario, Canada. Ardiden is continuing to make excellent progress, with new zones of spodumene-bearing pegmatite being logged in three new drill-holes completed since the last update on 14 November.
HIGHLIGHTS:
- Resource drilling program at Seymour Lake Lithium Project in Ontario continues to progress well with more diamond holes intersecting spodumene-bearing pegmatites.
- Numerous shallow spodumene-bearing pegmatites logged in drill core from a further three completed diamond drill-holes, with mineralised zones up to 18m wide encountered.
- Drilling extends the pegmatite zones further north at the North Aubry prospect - with the mineralisation remaining open to the east, west and at depth.
- Drilling identifies a substantial second sill of mineralisation beneath and parallel to known pegmatite exposures.
- Drill program extended 500m to the south to test the Central Aubry prospect.
- Only 5% of pegmatite strike length drill tested to date.
- Drilling results to underpin a maiden JORC 2012 Mineral Resource, targeted for Q2 2017.
The continued intersection of multiple high quality spodumene-bearing pegmatite reinforces the potential to establish a maiden JORC 2012 Mineral Resource estimate for the Seymour Lake Project.
The most recent three drill holes have continued to intersect multiple near-surface layers of pegmatite mineralisation of various widths, as seen in drill hole SL-16-61, which intersected a total of 14.37 metres of spodumene-bearing sills over a total down-hole width of 50m, and drill hole SL-16-63, which intersected a total of 28.83 metres of spodumene bearing sills over a total down-hole width of approximately 100m.
The identification of pegmatites either at or close to surface and on the crest of a hill, represents a strategic advantage for the project, potentially allowing easier access to high-quality mineralisation in a future mining scenario. The proximity of the pegmatites to surface is likely to reduce the required pre-strip, resulting in a lower extraction cost and therefore improved project economics.
Ardiden confirms the drilling has now identified a substantial second layer of pegmatite mineralisation (beneath and parallel to known exposures) up to 18.07 metres thick at the North Aubry prospect, as seen in drill hole SL-16-63 (see Table 1 in the link below). The deeper drill holes have confirmed the presence of pegmatite mineralisation zones at about 85m down-hole. While this second layer is deeper than other zones intersected in recent drilling, it is still of potential significant value to the Company given the location of the North Aubry prospect is on the side and crest of a hill.
If the second layer of pegmatite mineralisation extends across the entire length of the known mineralisation zone under the North Aubry prospect, Ardiden may, subject to further drill testing, still be able to access this additional spodumene mineralisation zone, depending on the dip and extension of this second substantial layer.
To date, Ardiden has only drill tested an area of approximately 250m in length at Seymour Lake, representing approximately 5 per cent of the total strike length of the known pegmatite exposures, which extend about 5km to the south of the North Aubry prospect (see Figure 3 in the link below).
The drilling has continued to validate the interpreted extensions of the known mineralised zones and define the boundaries of the main outcropping spodumene-bearing pegmatite structures at the project.
Initial review and logging of the three-new drill-holes has again confirmed the strong presence of multiple spodumene-bearing pegmatites, many of which lie close to surface. Mineralisation at the North Aubry prospect remains open to the west, east and at depth and will be further drill tested during the current program.
Phase 1 of this targeted drilling program has been designed to underpin a partial maiden JORC 2012 Mineral Resource, initially for the North Aubry prospect, which is targeted for completion by Q2 2017.
Phases 2 and 3 of the resource delineation drilling program will be designed to further expand the Mineral Resource to include areas around the South Aubry and Pye prospects.
Ardiden considers the initial results from the drilling to be very encouraging with this phase of drilling confirming the potential of the Seymour Lake Project to host multiple zones of lithium mineralisation.
EXPANDED DRILLING PROGRAM
In light of the encouraging results received to date at the North Aubry prospect, Ardiden has expanded the drill program to include a new target area called Central Aubry, which was identified during the mapping and sampling program earlier in the year.
The Central Aubry prospect is located approximately 500m south of the North Aubry prospect and about 200m north of the South Aubry prospect and is comprised of two main exposures. Mapping of the Central Aubry prospect shows strong presence of spodumene mineralisation over the majority of the exposures surface.
Subject to access, Ardiden will complete a limited number of holes on the Central Aubry prospect as part of the current drill program in order to obtain a better understanding of structure, orientation and overall potential of the prospect to host a lithium mineralisation.
If this initial phase of drilling at Central Aubry is successful, the prospect will be included in the second phase resource delineation drilling program next year.
Ardiden looks forward to providing further updates from the ongoing drilling at Seymour Lake as they come to hand.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/L5N558Y3
About Ardiden Ltd
Ardiden Limited (ASX:ADV) is an emerging international diversified exploration and development company possessing a mature multi-element asset portfolio, with a near term development pipeline, focused quality projects located in the established mining jurisdiction of Ontario, Canada.
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