- The Resource expansion drilling program has delivered further success with 13 drill holes completed thus far
- Significant results from the first five holes include:
o ASD001: 10.29m* @ 1.07% Li2O from 78.78m;
o ASD003: 5.93m* @ 1.58% Li2O from 157.46m;
o ASD004: 21.85m* @ 0.99% Li2O from 173.64m
(including 8.72m* @ 2.42% Li2O from 178.00m)
o ASD005: 26.9m* @ 1.58% Li2O from 188.00m
(including 9.05m* @ 2.88% Li2O from 203.95m)
(including 1.00m @ 4.45% Li2O from 211m)
*Note: stated lengths of intersections are down-hole lengths and the true thickness of the intersected pegmatites is not yet known and requires additional drilling to determine actual true thickness.
- All drill holes completed to-date have intersected spodumene-bearing pegmatites at various depths
- Assays from holes ASD006 to ASD0013 are expected to be available for release to the market over the coming weeks
- These latest results continue to demonstrate the significant potential of Seymour Lake to define a substantially larger Mineral Resource at North Aubry than previously indicated
The main priority of the current 3,000m Resource expansion drill program is to identify additional high-grade lithium mineralisation, to increase both the size and scale of the Seymour Lake project.
The current drill program has completed thirteen holes thus far (drill holes ASD001 to ASD013) with all drill-holes intersecting multiple pegmatites at various depths. Assay results for the first five holes have been received by the Company, attached as Appendix 1 and are summarised in Table 1(see link below).
Commenting on the on-going drilling success at North Aubry, Ardiden CEO and Executive Director, Brad Boyle stated: "These latest high-grade assay results, in conjunction with previous drilling success continue to confirm substantial mineralisation extensions of the North Aubry deposit. The consistency in the mineralised zones around the North Aubry prospect, including the identification to the North of new overlying spodumene bearing pegmatite dykes are very encouraging, and reinforces our strong belief in the potential of Ardiden's landholdings to add significant tonnage to the already defined high-quality resource at North Aubry."
NORTH AUBRY RESOURCE DRILLING: PROGRESS UPDATE
The completion of detailed mapping of the North Aubry pegmatite and surrounding area (see Figure 1 in link below) in May 2018, along with the results of the Ground Penetrating Radar (GPR) survey completed earlier in the year, led to the conclusion that there was significant potential at the North Aubry prospect to discover additional pegmatites (see Figure 2 in link below) and to define a significantly larger Mineral Resource.
The early success from the current drill-program has further supported the exploration work completed with the identification of new spodumene-bearing pegmatite dykes, intersected by holes ASD002 - ASD005 overlying the main North Aubry pegmatite dyke, as shown in Figures 5, 6 and 7(see link below).
The possible presence of these pegmatite dykes was suggested by the data compiled from the GPR survey completed earlier this year. Confirmation of these pegmatite dykes validates Ardiden's exploration model in which the North Aubry prospect and surrounding area is comprised of a series of "stacked" spodumene-bearing pegmatites within a zone extending towards the northeast.
The final phases of the current drilling program will test the continuity and potential size of these recently discovered pegmatites.
Following completion of the Resource expansion drilling program, Ardiden will commence the next phase of their strategic drill program in mid-October 2018. This drill program will test the areas northeast and south of the North Aubry prospect, areas which the Company believes offer significant potential to discover additional economically significant spodumene-bearing pegmatite dykes.
The latest assay results from North Aubry support this strategic decision, and continue to reinforce the Company's targeted exploration program, which will assist in growing Seymour Lake in size and scale, with the primary aim of significantly increasing the size of the existing North Aubry Mineral Resource.
These latest high-grade assay results are very encouraging for Ardiden as they reconfirm the high-quality nature and consistency of the lithium mineralised zones around the North Aubry prospect.
The on-going drilling program has also confirmed the presence of additional pegmatite dykes identified in the GPR survey which validate Ardiden's exploration model that the North Aubry prospect and surrounding area is comprised of a series of "stacked" spodumene-bearing pegmatites. These results are very encouraging and reinforces Ardiden's strong belief in the potential of the Seymour Lake Lithium project to host a number of significant Lithium deposits.
Ardiden looks forward to providing further market updates as the information becomes available.
To view tables and figures, please visit:
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.
Michael Weir / Cameron Gilenko