PERTH (miningweekly.com) – ASX-listed junior Ardiden has reported a maiden Joint Ore Reserves Committee-compliant resource estimate of 1.23-million tonnes at its Seymour Lake lithium project, in Canada.
Grading 1.43% lithium oxide, the Seymour Lake project is estimated to host a mineral resource of about 8.2-million tonnes of lithium.
“This is a great result for the company, which sets a strong foundation for the fast-track development strategy we are pursuing in conjunction with our Chinese strategic partner Yantai,” said Ardiden CEO and executive director Brad Boyle.
“This marks the first stage of that strategy and will allow us to meet one of the key conditions precedent under the development memorandum of understanding signed with Yantai earlier this year.”
Boyle pointed out that the maiden resource covered only a relatively limited strike length of the broader mineralised zone at Seymour Lake, allowing Ardiden the opportunity to expand this initial resource.
“Drilling is continuing to test this potential both down-plunge and the along strike at the nearby Aubry prospects. The broader potential of the project is also demonstrated by the initial exploration target, which has been defined in conjunction with the maiden mineral resource estimate of the north, central and south Aubry prospects.”