SEYMOUR LAKE LITHIUM PROJECT, Ontario (100%-owned)
- The 2017 Phase 2 Resource Expansion drilling program completed at Ardiden's 100%-owned Seymour Lake Lithium Project in Ontario, Canada.
- Community consultation and strategy meetings held for the development of Seymour Lake Lithium Project.
- Maiden 2012 JORC Compliant Indicated and Inferred Mineral Resource Estimate ("MRE") completed for the North Aubry deposit to satisfy Strategic Partner Yantai's MOU Condition Precedent.
- The Stage 1 Seymour Mineral Resource Estimate covers only 5% of strike length of the North Aubry mineralised zone, with the mineralisation remaining open at depth and in all directions along strike.
- Thick High-Grade Lithium Intercepts up to 4.38 Li2O, continue to increase potential to expand Maiden Resource at Seymour Lake.
- Initial Exploration Targets established for the Central and South Aubry prospect areas, as well as extensions to North Aubry.
- Expanded mapping, including aerial fly-over completed.
- Seymour Lake Project claims expanded South with 2 additional claims securing strategic rail access at Ferland Train Station.
- 2018 expansion drilling program due to commence at Seymour Lake.
LITHIUM METALLURGICAL TESTWORK
- Metallurgical testwork program continues to demonstrate robust processability on the bulk sample obtained from the North Aubry Lithium deposit.
- Heavy Liquid Separation (HLS) testwork on the bulk sample is consistent with previous results, producing very high-grade lithium concentrate of up to 7.01% Li2O using a liquid density of 2.95g/ml and achieving a very impressive 91.63% recovery rate.
- Initial Dense Media Separation (DMS) testwork on the bulk sample produces high-grade lithium concentrate of up to 6.92% Li2O, with a recovery of 81.74%, and a concentrate of 6.05% with recovery of 85.58% with the average head feed grade of 1.29% Li2O
- Positive results obtained from the bulk sample with coarse spodumene particle liberation size of up to 6.0mm.
- Extensive metallurgical testwork programs continue on the bulk samples.
- The testwork program will assist in the development of a suitable process flowsheet for the Seymour Lake lithium processing facility.
- $1,250,000 raised through an oversubscribed share placement to key sophisticated and institutional investors in Australia and internationally.
- Ardiden Shareholder Forum held in Melbourne.
- Annual General Meeting and Shareholder Forum held in West Perth.
- Progressed search for ASX experienced geologist / mining engineer to be appointed as a Strategic Advisor / Independent Non-Executive Director to strengthen the Board's skill-sets.
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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.