First 11 diamond drill holes completed with multiple layers of strong graphite mineralisation encountered

Perth, Feb 1, 2017 AEST (ABN Newswire) - Lithium and graphite explorer Ardiden Limited (ASX:ADV) is pleased to advise that the resource delineation diamond drilling program currently underway at its 100%-owned Manitouwadge Graphite Project in Ontario is continuing to make excellent progress, with several graphitic mineralisation zones being logged in the drill holes completed to date.

HIGHLIGHTS:

- Logging of the first 11 diamond drill holes confirms the presence of multiple thick zones of graphite mineralisation up to 61m wide (MW-16-01).

- Visible large flake graphite identified in numerous graphite domains.

- Highly encouraging visual results verify the interpreted eastern extension of the graphite mineralisation zones.

- Graphite mineralisation remains open along strike to the west, east and at depth.

- Drill core samples have been submitted to Actlabs in Thunder Bay with the first assay results expected in March.

- 22-hole resource drilling program at Manitouwadge will form the basis of a maiden JORC 2012 Mineral Resource targeted for Q2 2017.

Visual results from the first 11 drill holes in the 22-hole diamond drilling program have been very encouraging, with the holes intersecting multiple layers of large flake graphitic mineralisation of various widths.

Visual logging and inspections of the diamond drill core by Ardiden's geological team have identified numerous domains or layers of thick graphitic mineralisation zones up to 61 metres in true width, as seen in diamond drill hole MW-16-01. Diamond drill hole MW-16-11 also contained thick layers of mineralisation with a total down-hole width of approximately of 74 metres of graphite mineralisation.

The repeated intersection of multiple thick graphitic mineralisation zones reinforces the potential to establish a maiden JORC 2012 Mineral Resource estimate for the Manitouwadge Graphite Project.

The mineralisation intersected in the current diamond drilling program has, to date, surpassed expectations and verified the interpreted eastern extension of the graphite mineralisation zones, for a strike extension of over 600m, as highlighted in the drill plan below (see Figure 3 in the link below).

The graphite mineralisation remains open along strike to the west, east, and at depth, as seen in drill-hole MW-16-06 where drilling ended in mineralisation at 120m down-hole.

Ardiden confirms that the drill core has now been logged, cut and prepared, and the drill samples have been sent to Activation Laboratories in Thunder Bay for assay and metallurgical testing. Ardiden notes that drill holes that intersected limited or no graphitic mineralisation were not reported in this announcement.

Ardiden expects to receive the initial assay results by March 2017.

As previously advised, the diamond drilling program is designed to target the immediate project area around the Silver Star North prospect, where drilling had previously intersected a number of high grade graphite mineralisation zones in 2015. The first phase of the current diamond drilling program has been undertaken to confirm the grade and continuity of these graphite zones and to estimate a Mineral Resource, which is targeted for completion in Q2 2017.

Ardiden looks forward to providing further updates as they come to hand.

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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

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

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



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