Strong assay results continue to underpin planned maiden JORC 2012 Lithium Mineral Resource estimate

Diversified minerals explorer and developer Ardiden Limited (ASX:ADV) is pleased to advise that it has received further highly encouraging assay results from a further 14 diamond drill holes completed as part of the ongoing Phase 2 resource delineation diamond drilling program at its 100%-owned Seymour Lake Lithium Project in Ontario, Canada.

HIGHLIGHTS:

- Outstanding assay grades of up to and including 5.7% (SL-17-22) lithium oxide (Li2O) received from the next 14 diamond drill holes, completed as part of the ongoing Phase 2 drilling program at the Seymour Lake Lithium Project, Ontario.

- Assays confirm the presence of multiple high grade and wide mineralised zones in the 14 drill holes, which were completed to varying depths of up to 153m down-hole. Significant intersections include:

o 23.76m at 1.36% Li2O from 24.84m down hole (SL-17-14) including:

-- 11.6m at 2.3% Li2O;
-- 4.0m at 2.51% Li2O; and
-- 4.0m at 2.91% Li2O

o 23.70m at 1.67% Li2O from 50.0m down-hole (SL-17-33) including:

-- 19.8m at 2.07% Li2O;
-- 3.16m at 3.90% Li2O; and
-- 5.00m at 2.47% Li2O

o 18.13m at 1.10% Li2O from 93.0m down-hole (SL-17-13) including:

-- 3m at 1.17% Li2O: and
-- 3m at 3.00% Li2O

- The impressive assay results generated by the program continue to provide a greater level of geological understanding and confidence in the project, as Ardiden moves toward meeting the conditions of the Yantai BOT term sheet.

- Phase 2 drilling results are being incorporated into a maiden JORC 2012 Mineral Resource estimate, to be completed by late September 2017.

The latest assay results include an outstanding high-grade intercept grading 5.7% lithium oxide (Li2O), as well as numerous strong assays which continue to support the delineation of the maiden Mineral Resource at the North Aubry prospect.

The latest assay results continue to verify the presence of multiple thick zones of high-grade lithium mineralisation at the North Aubry prospect. Mineralisation daylights at surface and is hosted in multiple stacked pegmatite sills.

Ardiden confirms a further batch of drill core assay results from the Phase 2 drill program have now been received and reconciled from Actlabs laboratory in Thunder Bay. The assay results, from drill holes SL-17-11, SL-17-13, SL-17-14, SL-17-16, SL-17-19, SL-17-21 - SL-17-24, SL-17-33, SL-17-35 - SL-17-37 and SL-17-39, continue to confirm the presence of significant lithium mineralisation at a range of grades, with significant assay grades of up to an outstanding 5.7% Li2O (drill hole SL-17-22) identified. The overall average grade from all 258 drill core samples was a solid 1.16% Li2O.

ASSAY RESULTS

Ardiden notes, 54% of this batch of assays (134 of the 258 drill core samples) returned results greater than the 0.5% Li2O cut-off with an average grade of 1.84% Li2O, while 38% (98 of 258 drill core samples) returned results greater than 1.0% Li2O with an average grade 2.26% Li2O. 30% (77 of 258 drill core samples) returned results greater than 1.5% Li2O with an average grade of 2.54% Li2O.

Assay results for the next 14 diamond drill holes are reported in this announcement, including SL-17-11, SL-17-13, SL-17-14, SL-17-16, SL-17-19, SL-17-21 - SL-17-24, SL-17-33, SL-17-35 - SL-17-37 and SL-17-39, and any assays below a cut-off grade of 0.5% Li2O and have not been specifically reported in this announcement. Ardiden notes that drill results for diamond holes SL-17-08, SL-17-10, SL-17-12 have not been reported in this announcement as the results confirmed the lithium mineralised zones in each of these drill holes were less than 2m.

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).

MULTIPLE THICK ZONES OF HIGH-GRADE LITHIUM MINERALISATION

The potential of the North Aubry prospect continues to be realised and is suitably highlighted by drill-hole SL-17-14, which intersected 23.76 continuous metres of spodumene mineralisation from close to surface with an average lithium grade of 1.36% Li2O. Furthermore, drill-hole SL-17-33 intersected 23.70 continuous metres of spodumene mineralisation from 50m down-hole with an impressive average grade of 1.67% Li2O (refer to Table 2 in the link below).

Also of note was drill hole SL-17-13, which intersected 18.13 continuous metres of spodumene mineralisation from 93m down-hole with a solid average grade of 1.10% Li2O. Drill hole SL-17-22 intersected 21.10 continuous metres of spodumene mineralisation from 35m down-hole with an average grade of 1.07% Li2O. Drill-hole SL-17-39 intersected 14.60 continuous metres of spodumene mineralisation from 68m down-hole with a good average grade of 1.28% Li2O (refer to Table 2 in the link below).

The assay results confirm multiple thick, sub-parallel mineralised zones and support the potential of the Seymour Lake Lithium Project to host a quality lithium deposit.

The assay results validate the geological modelling of multiple stacked and parallel pegmatite sills and the northern extension of the known primary mineralised zones, extending the down-plunge continuity and confirming an extension of the secondary spodumene-bearing pegmatites at 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, the drilling program has focused on the North Aubry prospect due to the ease of access and high-quality lithium mineralisation at the prospect. 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.

Only about 5% of the regional pegmatites have been drill-tested, and the true potential of the project is yet to be fully evaluated. Approximately 40 new pegmatite exposures have been identified along the 5km strike length, with several of these exposures hosting visible spodumene.

Ardiden notes that although the pegmatites at Seymour Lake can be somewhat difficult to model and predict due to the variable fluid pathways during formation, confirmation of the interpreted extensions of the spodumene-bearing pegmatites and the verification of multiple pegmatite sills in the latest assay results provides the Company with a greater level of understanding and confidence in the project, while also steadily expanding the overall scale of the project and its future resource potential.

The assay results verify the down-plunge component of the multiple mineralised sills. 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, which is expected to be completed by late September 2017.

Ardiden looks forward to receiving additional assay results, which should provide the Company with sufficient data to generate cross-sections and assist in the overall structural understanding of the North Aubry prospect.

CONCLUSION

The latest assay results, which include multiple intercepts of more than 4% Li2O at various depths, continues to provide Ardiden with growing confidence in the scale and strength of the lithium mineralisation at the North Aubry prospect.

The Company believes that the Seymour Lake Project has the potential to host a high-quality lithium deposit, with current metallurgical results confirming the high-quality attributes of the spodumene mineralisation contained in the North Aubry pegmatites and providing Ardiden further confidence in our ability to satisfy Yantai BOT term sheet obligations.

The initial maiden JORC 2012 Mineral Resource estimate for the Seymour Lake Project, which is scheduled for completion in late September, will establish a foundation from which the Company can target extensions of the known mineralised zones and also commence work with our strategic partners, with the intent of advancing the project towards commercial production.

As previously noted, only a small portion of the project has been properly assessed and, with more than 40 pegmatite exposures yet to be explored, evaluated and drill tested along the significant 5km strike zone, the true potential of the project has yet to be fully realised.

Ardiden looks forward to providing further updates from the ongoing drilling program as they come to hand.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/S71CRZ30


About Ardiden Ltd

Ardiden Limited (ASX:ADV) is an emerging international strategic metals company which is focused on the exploration, evaluation and development of four 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



Link: Exceptional High-Grade Lithium Hits at Seymour Lake



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