Maiden resource drilling programs commence at key Canadian lithium and graphite projects
Quarterly Activities Report
Perth, Jan 23, 2017 AEST (ABN Newswire) - Ardiden Ltd (
ASX:ADV) are pleased to provide the Company's quarterly activities report for the period ending 31 December 2016.
Highlights:
SEYMOUR LAKE LITHIUM PROJECT, Ontario (majority-owned)
A 27-hole resource drilling program at Seymour Lake is now completed with assays received for the first 14 diamond drill holes. More shallow spodumene-bearing pegmatites identified in diamond drill core, with collective mineralised zones up to 18m wide encountered.
Both west and east pegmatite zones extended at the North Aubry prospect - with the mineralisation remaining open to the east, west and at depth. Multiple substantial secondary sills of mineralisation identified beneath and parallel to the known pegmatite exposures at North Aubry. Multiple spodumene-bearing pegmatites intersected at the Central Aubry prospect, remaining open to the north, east and at depth.
Furthermore, outstanding assay grades of up to 6.01% lithium oxide (Li2O) reported, with:
- 38% (60 of 159 drill core samples) returning assays of greater than 1.5% Li2O grades at an average 2.65% Li2O;
- 50% (80 of 159 drill core samples) returning assays of greater than 1.0% Li2O grades at an average 2.29% Li2O; and
- 65% (103 of 159 drill core samples) returning assays of greater than 0.5% Li2O grades at an average 1.94% Li2O.
Assay results to underpin a Maiden JORC 2012 Mineral Resource targeted for Q2 2017.
MANITOUWADGE GRAPHITE PROJECT, Ontario (100%-owned)
A 1,800m resource drilling program at Manitouwadge is now underway, with the maiden JORC 2012 Mineral Resource targeted for Q2 2017.
WISA LAKE LITHIUM PROJECT, Ontario (Option to own 100%)
Ardiden entered an option agreement to acquire 100% of the Wisa Lake Lithium Project in Ontario, Canada, located ~80km east of Fort Frances and 8km north of the Minnesota/US border.
The Wisa Lake Project has multiple spodumene exposures which were originally discovered in the 1950s. Wisa Lake has ~1,700m of historical diamond drilling which has confirmed the potential for extensive high-quality spodumene mineralisation zones along a 335m strike length.
A recent mapping and sampling field program by Alset Energy Corporation obtained spodumene samples from various pegmatites exposures with grades up to 6.38% Li2O reported.
The Wisa Lake Lithium Project has several spodumene-bearing pegmatite dykes, and the main pegmatite has recently been traced at surface for a strike length of 1.5km with widths up to 20m:
- In 1958 Lexindin Gold Mines Ltd reported a historical resource of 330,000t of Li2O grading 1.15% (not JORC or NI 43-101 compliant). This resource was established over less than 5% of the Wisa Lake area.
Historical data review, field mapping and exploration program to commence in early 2017, potentially followed by a drilling program.
To view the full report, please visit:
http://abnnewswire.net/lnk/22HP38O0
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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