PERTH (miningweekly.com) – ASX-listed explorer Ardiden has completed the acquisition of the Seymour Lake lithium project, in Canada, with the company saying on Tuesday that the last payment of cash and shares had been made to Stockport Exploration.
The company was fully funded to continue to progress a maiden Joint Ore Reserves Committee-compliant resource drilling programme, and with full ownership of the project now secured, the company could swiftly progress to the next stage of development, Ardiden said.
The Seymour Lake project comprises five patented mining claims covering some 912 ha, and is considered to have significant potential to provide high-quality product to service the growing North American and export markets.
The company will apply to the Minister of Northern Development and Mines to convert a number of the key unpatented mining claims at Seymour Lake into mining leases, allowing for the extraction and sale of lithium ore.
Furthermore, Ardiden will also undertake further metallurgical testwork on spodumene samples from the project area, designed to access and advance the potential of the project feasibility.