Arcadia Minerals Ltd (ASX:AM7) (Arcadia), the diversified exploration company targeting a suite of projects aimed at Tantalum, Lithium, Nickel, Copper and Gold in Namibia, is pleased to announce initial drilling results from follow-up drilling at the Swanson Tantalum Project.


HIGHLIGHTS

  • 83% (19 holes representing 907m of 1,100m) of the 27-hole drilling program1 completed
  • Sample analyses of 4 holes received
  • Holes confirmed open-cast potential of the E7 pegmatite
  • Assayed core confirms high grade intercepts with an average thickness of 2.31 m (from 1.40m to 3.67m) and a weighted average grade of 559 g/t Ta2O5 (479 to 705 g/t Ta2O5)
  • Further assay results from 15 holes completed are expected early in Q1 2022
  • Final ten holes of the 1,100m drilling program are expected to be completed early in Q1
  • An updated Mineral Resource to compliment the maiden JORC Mineral Resource of 1,2Mt2 (at an average grade of 412g/t Ta2O5, 76g/t Nb2O5 and 0.29% Li2O), previously derived from 23 drillholes completed over 3 pegmatites in September 2020, is expected to be declared soon after completion of the drilling program
  • Following receipt of a potentially enlarged Mineral Resource, a full feasibility study will be commenced on the project to investigate the economic potential of producing a 25% Ta2O5 concentrate at Swanson.

Arcadia Minerals Ltd (ASX:AM7) (Arcadia or the Company) is pleased to announce that 83% of the extended 1,100m drilling program at the Swanson Tantalite project, which was commenced within August 2021, have been completed.

Philip le Roux, the CEO of Arcadia commented:

We are optimistic that the encouraging results received so far will be replicated in the remaining drill holes, and that the Company could expect similar mineralisation trends as those that were evident from the assays of drill cores which contributed to the maiden Mineral Resource. As a result, we are hopeful to significantly extend the Mineral Resource. If the Mineral Resource is extended, the Company would contemplate immediately conducting the necessary studies to complete a full feasibility study over the extended Mineral Resource resident at Swanson.”

The extended drilling campaign is aimed at possibly increasing the opencast and up- dip extensions of 11 of the 15 pegmatites at the Swanson project and, if successful, to expand the maiden Mineral Resource announced on 23 September 2021 by the Company.

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