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Ardiden Ltd.
Summary
| Project: | Seymour Lake | |
|---|---|---|
| Deposit: | Seymour Lake | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 12/12/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-12-2016: Ardiden Ltd. announces an Exploration/Drilling Update report for its Seymour Lake deposit at the Seymour Lake project. Drilling results incl. 18.22m @ 2.33% Li2O from 2.5m. Lithium and graphite explorer Ardiden Limited (ASX: ADV) is pleased to | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Paul Nielsen (Not stated) | |
| ABSTRACT: | Lithium and graphite explorer Ardiden Limited (ASX: ADV) is pleased to advise that it has received outstanding initial assay results from the recently completed maiden resource delineation diamond drilling program at its majority owned Seymour Lake Lithium Project in Ontario, confirming the potential of the project and putting it on track to complete a maiden Mineral Resource estimate early next year. Initial assay results received from the first eight diamond drill holes from the 27-hole drill program, which comprised a total of 1,728m of drilling, have once again verified the presence of numerous significant high-grade lithium mineralisation zones which are located either at or close to surface at the North Aubry prospect. Ardiden confirms that 85 assay results of the 310 drill core samples from the program have now been received from Actlabs laboratory in Thunder Bay. The assay results, from drill holes SL-16-47 to SL-16-54, have confirmed the presence of substantial lithium mineralisation at various grades in all 85 samples, with significant assay grades of up to 4.69% Li2O (SL-16-54) identified. 36.5% of this initial batch of assays (31 of 85 drill core samples) returned results greater than 1.5% Li2O and almost 50% (42 of drill core samples) returned results greater than 1.0% Li2O. Ardiden notes that the initial assay results for the five drill holes reported in this announcement (SL-16-49 to SL-16- 52 and SL-16-54), which consisted of 69 drill core samples, had an impressive overall average grade of 1.53% Li2O. The remaining 36 drill core samples fell below the cut-off grade and have not been reported in this announcement. Even after including those samples below the 0.5% cut-off grade, the first eight drill holes comprising 85 drill core samples still had an overall average grade of 1.27% Li2O. Table 1 below presents the significant intersections which contain lithium mineralisation that reported above the cut-off grade of 0.5% Li2O and is expressed as the average grade for each significant intersection. | |
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