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Ardiden substantial increase in Mineral Resources at Seymour Lake

Mining News - Published on Fri, 08 Mar 2019

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Canadian-focused explorer and developer, Ardiden Limited, announced the completion of phase one of its growth plan at the Seymour Lake Lithium Project, with a 400% increase in the project's defined Mineral Resource.

- Aggregate Mineral Resource of 4.80Mt @ 1.25% Li2O and 186ppm Ta2O5 , compliant with the JORC Code (2012) has been defined at Ardiden's Seymour Lake Lithium Project
- 400% increase from previously reported Maiden Resource of 1.23Mt @ 1.43% Li2O (October 2017)
- The upgraded Mineral Resource is comprised of:
North Aubry; Indicated Mineral Resource of 2.13Mt @ 1.29% Li2O & 210ppm Ta2O5

Inferred Mineral Resource of 1.7Mt @ 1.5% Li2O & 189ppm Ta2O5
South Aubry; Inferred Mineral Resource of 1.0Mt @ 0.8% Li2O & 128ppm Ta2O5
- Significant spodumene mineralisation extends beyond the defined Mineral Resource of the North Aubry Lithium Deposit
- Additional spodumene-bearing pegmatites within the Seymour Lake Lithium Project remain to be tested
- Metallurgical test work completed on a bulk sample and samples of drill core produced high-quality spodumene concentrates with very low levels of deleterious elements
- With phase 1 of the growth plan at Seymour Lake complete, Ardiden is evaluating a number of strategies to develop the project further and enhance shareholder value

Significant growth in Seymour Lake's Mineral Resource has been achieved through meticulous exploration planning and execution, resulting in an upgraded Mineral Resource at North Aubry, and the definition of a Mineral Resource at South Aubry.

Commenting on the significant upgrade and execution of phase one at Seymour Lake, Executive Director-Technical, Mr Peter Spitalny, said "the significant increase in Seymour Lake's defined Mineral Resources is an important step for Ardiden. We are delighted with the big increase in the North Aubry Resource and definition of a maiden Mineral Resource at South Aubry. Furthermore, the presence of robust exploration targets at Seymour Lake provides the Company with a platform to define additional Mineral Resources. We have accomplished what we set out to achieve from Phase one of the project, significantly growing the size of the project. On the back of completion of phase one, Ardiden will now evaluate the best path forward for future development and growth at Seymour Lake."

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Posted By : Rabi Wangkhem on Fri, 08 Mar 2019
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