Assay results from recently completed drill program at Manitouwadge Graphite Project imminent; drilling about to commence at newly optioned Wisa Lake Lithium Project

Perth, Mar 10, 2017 AEST (ABN Newswire) - Diversified minerals explorer and developer, Ardiden Limited (ASX:ADV) is pleased to provide an update on recently completed and upcoming diamond drilling programs across its portfolio of graphite and lithium projects in Ontario, Canada.

HIGHLIGHTS:

- 30-hole diamond drilling program at Manitouwadge Graphite Project now complete.

- Further visible large flake graphite identified in numerous graphite domains.

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

- Drill core samples submitted to Actlabs in Thunder Bay.

- Drill core assay results expected shortly.

- Maiden due diligence drilling program at Wisa Lake Lithium Project to commence shortly.

- Phase 2 drilling program at Seymour Lake Lithium Project to commence in March 2017.

Drilling has recently been completed at the 100%-owned Manitouwadge Graphite Project, with first assay results imminent, and preparations are well advanced for a maiden due diligence program at the recently optioned Wisa Lake Lithium Project and a Phase 2 drilling program at the Seymour Lake Lithium Project.

Manitouwadge Graphite Project

Drilling has now finished at the Manitouwadge Graphite Project and the drill rig has been de-mobilised from site, while the Company's geological team finalises the preparation of drill core samples for assay.

Visual results from the last 19 drill holes in the 30-hole diamond drilling program indicate that the holes continued to intersect multiple layers of large flake graphitic mineralisation over various widths.

Visual logging and inspections of the diamond drill core by Ardiden's geological team have identified multiple layers of thick graphitic mineralisation in zones up to 65.4m in true width, as seen in diamond drill hole MW-16-28 (see Table 1 in the link below). Whilst, diamond drill hole MW-16-12 also intersected thick layers of mineralisation with a total down-hole width of approximately of 59m of graphite mineralisation, which is an encouraging outcome.

The mineralisation intersected in the current diamond drilling program has verified the interpreted extensions of the graphitic mineralisation zones, for a strike extension of over 700m, as highlighted in the drill plan below (see Figure 1 in the link below).

Ardiden confirms that additional diamond core from the recently completed program is currently being logged, cut and prepared for delivery to Activation Laboratories in Thunder Bay for assaying. Ardiden confirms that only drill holes which intersected above a total of 20m of graphite mineralisation have been reported in this announcement. Ardiden expects to receive the initial assay results from the first drill holes shortly.

Wisa Lake Lithium Project

Drilling approval has now been received from the Ministry of Northern Development and Mines (MNDM) and Notice and Approval has been received from the local Lac la Croix First Nation Group. The Company is finalising the engagement of an additional drilling team and geological staff and mobilise the crews to start the due diligence drilling program at Wisa Lake within the next few weeks.

Seymour Lake Lithium Project

The successful completion of the recent Phase 1 drill program at Seymour Lake has confirmed the presence of high grade lithium mineralisation at surface and at depth at the North Aubry prospect. Assay results from the two diamond drill holes at the Central Aubry prospect also confirm the high quality of the spodumene mineralisation present at this project.

As previously announced, the Company will seek to expand the initial maiden lithium resource potential at North Aubry prospect to ensure there will be sufficient resources to be economically viable for any potential future mining operations.

The expansion of any resources will be completed in accordance with JORC (2012) guidelines and is likely to be completed in several stages, once the other prospects along the first 1km of the overall 5km strike length are progressively drill tested this year. These prospects include Central Aubry, South Aubry and Pye.

Geological interpretation from the Phase 1 drilling indicates that mineralisation at the North Aubry prospect appears to be plunging to the north-west, which could be indicating a possible deep pegmatite feeder zone along the western controlling structure.

Preparations are almost complete to commence Phase 2 of the diamond drilling program at Seymour Lake, which will be designed to further test the extensions of the lithium mineralisation zones on the western and northern aspects of the North Aubry prospect, and to drill test the possible pegmatite feeder zone on the western flank.

In addition, the Company intends to further evaluate and drill test the concept of possible dilation along the feeder zone, which may strike south towards the Central Aubry prospect and which could explain some of the similarities between the two prospect areas. If this geological interpretation is found to be accurate, this could dramatically expand the potential size of the lithium mineralisation zones and therefore increase the scale of the lithium deposit.

Ardiden expects to be on site to commence Phase 2 of the resource drilling program at Wisa Lake within the next few weeks.

The Company looks forward to providing further updates as they come to hand.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/Z402M604


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
Executive Director
Ardiden Ltd
Tel: +61-8-6555-2950

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



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