Strong assay results of up to 4.5% Li2O continue to expand potential of the North Aubry prospect
Further Impressive High-Grade Lithium Hits at Seymour Lake
Perth, June 5, 2017 AEST (ABN Newswire) - Diversified minerals explorer and developer Ardiden Limited (
ASX:ADV) is pleased to advise that it has received encouraging assay results from the next two diamond drill holes completed as part of the ongoing Phase 2 resource delineation diamond drilling program at its majority-owned Seymour Lake Lithium Project in Ontario.
The results include an outstanding intercept grading 4.5% lithium oxide (Li2O) as well as numerous strong assays which continue to support the potential to establish a maiden Mineral Resource at the North Aubry prospect.
HIGHLIGHTS:
- Outstanding grades of up to 4.5% (SL-17-06) lithium oxide (Li2O) reported from the next two diamond drill holes in the ongoing Phase 2 drilling program at the Seymour Lake Lithium Project, Ontario.
- Assays confirm the presence of wide mineralised zones at or close to surface in these two holes, which were completed to depths of up to 131m down-hole. Significant new intersections include:
o 9.63m at 1.5% Li2O from surface (SL-17-05) including:
-- 5.0m at 2.5% Li2O.
o 6.77m at 2.5% Li2O from 3.0m down-hole (SL-17-06) including:
-- 3.0m at 3.3% Li2O; and
-- 1.0m at 4.5% Li2O.
- Drilling continues to provide a greater level of geological understanding and confidence while also steadily increasing the overall scale of the project.
- Phase 2 results to underpin a maiden JORC 2012 Mineral Resource.
- Discussions and site visits with multiple potential strategic and off-take partners continuing.
NORTH AUBRY PROSPECT
The latest results continue to verify the presence of a thick zone of high-grade lithium mineralisation located either at or close to surface and the presence of secondary, stacked and parallel, mineralised zones at the North Aubry prospect.
Ardiden confirms that the next batch of drill core assays from the Phase 2 drill program have now been received from Actlabs laboratory in Thunder Bay. The results, from drill holes SL-17-05 and SL-17-06, continue to confirm the presence of significant lithium mineralisation at various grades in all samples, with significant assay grades of up to 4.5% Li2O (drill-hole SL-17-06) identified. The overall average grade from all 19 drill core samples was an impressive 1.8% Li2O.
Ardiden notes that, although this is a small batch of drill core samples, 79% of this batch of assays (15 of the 19 drill core samples) returned results greater than the 0.5% Li2O cut-off with an average grade of 2.2% Li2O, while 74% (14 of 19 drill core samples) returned results greater than 1.0% Li2O with an average grade 2.3% Li2O. 47% (9 of 19 drill core samples) returned results greater than 1.5% Li2O with an average grade of 2.9% Li2O.
Assay results for the next two diamond drill holes are reported in this announcement, including SL-17-05 and SL-17-06, and any assays below a cut-off grade of 0.5% Li2O and have not been specifically reported in this announcement.
Table 1 (see the link below) presents the significant intersections which contain lithium mineralisation that reported above the cut-off grade of 0.5% Li2O and the weighted average grade for each significant intersection, where the Li20% grades have been calculated using the Li2O assays as a function of the represented sample length (length X grade/length).
The significant potential of the North Aubry prospect continues to grow and is further highlighted by drill-hole SL-17-05, which returned a strong intercept of 9.63 continuous metres of spodumene mineralisation from surface with an average lithium grade of 1.5% Li2O, while drill-hole SL-17-06 intersected 6.77 continuous metres of spodumene mineralisation from close to surface with an impressive average grade of 2.5% Li2O.
These latest results further reinforce the potential of the Seymour Lake Lithium Project to host a quality lithium deposit.
The drilling has continued to validate the thick known primary mineralised zones, further defining the boundaries of the main outcropping area and extensions of the secondary spodumene-bearing pegmatites at the project.
Ardiden notes although the pegmatites at Seymour Lake can be somewhat difficult to model and predict due to the variable fluid pathways, confirmation of the interpreted extensions of the spodumene-bearing pegmatites and the verification of multiple pegmatite layers in the latest drilling provides the Company with a greater level of geological understanding and confidence in the project, while also steadily expanding the overall scale of the project.
As previously advised, the current diamond drilling program is designed to target the immediate project area around the North Aubry prospect, which is located within an extensive 5km long pegmatite zone identified during the mapping and sampling campaign completed in 2016.
To date, Ardiden has only drill tested an area of approximately 400m in length and width 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.
The continued intersection of multiple high-quality spodumene-bearing pegmatite supports Ardiden's objective of defining a maiden JORC 2012 Mineral Resource estimate for the Seymour Lake Project. The identification of pegmatites either at or close to surface represents a strategic advantage for the project, potentially allowing for 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 should the project advance into mining operations.
STRATEGIC RELATIONSHIPS
Ardiden is pleased to advise that, as a result of the ongoing success of the Phase 2 drilling program in defining thick, high-grade spodumene zones from and close to surface, the continued increase in the overall scale of the project and the encouraging strong metallurgical results, the Company has now been approached by multiple potential strategic and lithium off-take partners.
Ardiden is currently in active discussions with these groups about evolving strategic relationships, with one group recently completing a site visit to the Seymour Lake Project. Subject to the successful definition of a maiden JORC 2012 Mineral Resource estimate for the Seymour Lake Project, Ardiden anticipates that these parties would consider reviewing potential development opportunities.
ADDITIONAL CLARIFYING INFORMATION
Ardiden has received queries from some Ardiden shareholders and others about the description of the Pegmatites in the drilling log table that was included in the ASX announcement for Seymour Lake dated 30 May 2017.
In order to provide additional information and clarification about the drill logs, Ardiden has now included a more detailed description about the drill core in various pegmatite interceptions. An updated table for drill holes SL-17-14, SL-17-16, LS-17-21 to SL-17-23 at the Seymour Lake Lithium Project has been attached to the end of this announcement (refer to Table 3 in the link below).
Ardiden confirms that the updated drill logs refer to the identification and distribution of visible spodumene crystals of various sizes and colours contained within drill core samples. Ardiden notes that the estimated distribution of visible spodumene crystals in the drill core is not an accurate reflection of potential lithium grade and this will be determined with additional laboratory analysis.
The Company also notes that it has reported various widths of the highly evolved spodumene-bearing pegmatites. The North Aubry pegmatites are classified as highly evolved, complex type, spodumene-subtype, lithium-caesium-tantalum pegmatites.
These pegmatites generally form under high-pressure-low-temperature conditions, display complex internal zoning, have relatively low Nb/Ta ratios in the ore-forming assemblages, and contain significantly elevated tantalum values.
Ardiden confirms that the North Aubry prospect contains multiple layers of highly evolved complex pegmatites and, as such, a number of the diamond drill-holes have been reported with a down-hole aggregate of visible spodumene-bearing and non-spodumene-bearing pegmatites.
The highly evolved non-spodumene-bearing pegmatites have been clearly identified in the drill log, however the lack of spodumene crystals being externally visible in the drill core is not an accurate reflection of the potential spodumene crystal content within the drill core or the potential lithium grade of the sample, which will be determined with additional laboratory analysis.
Ardiden looks forward to receiving additional drilling results from the next drill line, which should provide the Company with sufficient data to generate cross-sections and assist in the overall structural understanding of the North Aubry prospect.
Ardiden looks forward to providing further updates from the ongoing drilling program and strategic partner discussions as they come to hand.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/A6NYM228
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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