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


HIGHLIGHTS

  • Assay results received for 32 of 64 holes completed over the Eden Pan, where holes were drilled from surface to a max 12.80m depth
  • All assays received to date contained significant Lithium mineralisation
  • Results suggest a potential increase of the existing JORC Mineral Resource (currently 15.1 million tons at 828 ppm Li) contained over only 24% of the Eden Pan surface area
  • As expected, best individual drillhole intersections for the high-grade middle clay unit were located in the centre of the pan at shallow depths:
    • BVRG03: 8.60 m @ 790 ppm Li
    • BVRG05: 8.20 m @ 804 ppm Li
    • BVRG02: 10.2 m @ 809 ppm Li
    • BVRG08: 9.00 m @ 841 ppm Li
    • BVRG01: 8.40 m @ 855 ppm Li
    • BVRG06: 6.00 m @ 898 ppm Li
    • BVRG04: 7.60 m @ 904 ppm Li
  • 7 Additional clay pans identified, bringing the total pans under investigation to 14 for a total pan area comprising 95.9Km2
  • The Eden Pan covers only 19% of the surface area of all known pans
  • Existence of sub-surface clay pans to be investigated

Jurie Wessels, the Chairman of Arcadia stated: “The assay results confirmed the existence of continued mineralisation at the Eden Pan and bodes well for an increase in the maiden Mineral Resource at this pan declared on 3 November 2021. The identification of 7 additional exposed pans not only enhances the prospect of making additional Lithium-in-clay discoveries in the area, but is also expected to be a prelude to other prospects that may be available for further investigation, and which are hidden from sight under and over the surface of the 4,000Km2 Bitterwasser project.”

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This article includes content from Arcadia Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AM7:AU

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