New claims approved by MDNM creates vital transport corridor to Ferland Station.
Ardiden Expands Seymour Lake Project
- Two new mining claims now approved by MDNM.
- Claims creates transport corridor providing direct access from North Aubry to the Ferland Train Station.
- Planning and preparations underway to commence the next stage of resource expansion drilling program in the coming weeks at the Aubry prospects.
- Ardiden moves closer to its objective of exercising the Yantai Term Sheet and progressing its fast-track development strategy at Seymour Lake.
As previously announced on 30 November 2017, as a result of the site visit and the development meetings, a preliminary development strategy was formulated between the Yantai and Ardiden. Subject to further detailed evaluation and consideration during the Feasibility Study, Ardiden will consider a number of development options, including the construction of the lithium processing facility on site at North Aubry and a loading facility at the Ferland train station.
Ardiden is pleased to confirmed it has applied for (staked) a further two claim areas (totally 448Ha) on the southern edge of the Seymour Lake Project and the Company is delighted to confirm these new claims have now been approved by the by the Ontario Ministry of Northern Development and Mines ("MNDM").
These latest claim areas expand the land-holding to the south and to create a transport corridor creating an unencumbered and direct access from the North Aubry Lithium deposit to the Ferland Train Station. The boundary of new claims is located approximately 700m north of the Ferland Train Station.
Further, this additional land also provides Ardiden further exploration potential to extend the known 5km strike pegmatite structure zone. This will allow the Ardiden geological team to continue the mapping and exploration program along the mineralisation strike zone.
Ardiden confirms the geological team are in the final planning stage and preparations are now underway to commence the next stage of resource expansion drilling program in the coming weeks at the Aubry prospects.
SUPPLEMENTARY INFORMATION FOR SOUTH AUBRY UPDATE
Ardiden refers to the ASX announcement dated 15 December 2017, providing the assay results for the South Aubry prospect. As announced the initial assay results include an impressive high-grade intercept grading 3.10% lithium oxide (Li2O), as well as numerous strong assays which continue to support the potential to define further lithium resources at Seymour Lake, with the latest results confirming the presence of multiple pegmatite zones at or close to surface.
Assay results from the recently completed diamond drill holes, SA-17-05, SA-17-07, SA-17-08, SA-17-11, SA-17-15 and SA-17-16 (refer Tables 1 and 2 in link below), have confirmed the potential at the South Aubry prospect, which is located approximately 1.1km south of the North Aubry lithium deposit and intersecting thick zones of lithium mineralisation at or close to surface, for the prospect.
As this is a preliminary exploration drilling program, Ardiden considers these assay results to be very encouraging, representing a strong start to its broader exploration campaign aimed at growing the resources at Seymour Lake. Further exploration and drill testing is planned across the Aubry prospect areas.
Ardiden believes that these drilling results are the precursor to the identification of a number of larger mineralisation zones contained within the Aubry prospects and notes that the mineralisation remains open in all directions at the South Aubry prospect. Further exploration and drilling will allow the Company to develop a better understanding of the underlying geological structures and further establish the grade and continuity of mineralisation identified within the South Aubry pegmatite units.
The pegmatites at South Aubry host mineralisation which has been identified as having a down-hole thickness of up to 24m, as demonstrated in the assay results for drill hole SA-17-15. This hole was drilled at a 60-degree dip, which is approximately normal to mineralised unit.
Ardiden considers the results to be very encouraging and another positive step forward for the overall potential development of the Seymour Lake Lithium project with strategic partner Yantai Jinyuan Mining Machinery Co., Ltd.
Lithium grades up to 3.10 Li2O (SA-17-08) are reported in the latest batch of assay results, confirming the presence of broad mineralisation zones including a number of high-grade lithium lodes within these broader zones.
MULTIPLE THICK ZONES OF HIGH-GRADE LITHIUM MINERALISATION
The continuity of mineralisation at South Aubry is highlighted by drill-hole SA-17-15, which intersected 24.00 continuous metres of spodumene mineralisation from just 2m down-hole with an average lithium grade of 0.82% Li2O and containing a number of high grade zones including 2.00m at 2.42% Li2O. Refer to Figure 6 (see link below) for the cross section showing drill holes SA-17-05 and SA-17-15.
Furthermore, drill-hole SA-17-11 intersected 21.00 continuous metres of spodumene mineralisation from 11m down-hole with an average grade of 0.50% Li2O (refer to Table 2 in link below). Refer to Figure 8 (see link below) for the cross section showing drill hole SA-17-11.
The assay results validate the geological modelling of multiple stacked and parallel pegmatite sills and further drilling is required to obtain a better understanding of the size and extent of the underlying pegmatite structures.
CONCLUSION AND OUTLOOK
The creation of the transport corridor for the Seymour Lake Lithium project to create direct unfettered access to the local transport network at Ferland Train Station, is an essential and vital step forward in the rapid development of the project.
As previously announced Ardiden considers these assay results, which include multiple high-grade intercepts at various depths starting at or close to surface, to be a solid start to its broader exploration program. The new cross sections highlight the exploration potential of the South Aubry prospect and have further increased the Company's confidence in the overall scale of the lithium mineralisation across all Aubry prospect areas.
The Company believes that the Seymour Lake Project has the potential to host multiple high-quality lithium deposits, with the completion of a Phase 1 JORC 2012 Mineral Resource Estimate at North Aubry establishing a foundation from which the Company can target extensions of the known mineralised zones and with, the assistance of our strategic partners Yantai, advance the project towards development.
Ardiden looks forward to providing further 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.