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Arcadia Minerals Ltd (ASX:AM7) (Arcadia or the Company) is pleased to announce the declaration of a maiden resource at its advanced Swanson Tantalum/Lithium exploration project (the "Swanson Project") situated in Tantalite Valley, Namibia through its 80% owned Namibian subsidiary Orange River Pegmatite (Pty) Ltd ("ORP"). Snowden Mining Industry Consultants ("Snowden") have delivered a JORC mineral resource estimate report to ORP styled "Report for Orange River Pegmatite (Pty) Ltd, Geology and Mineral Resources of the D and F Pegmatites, September 2021.
HIGHLIGHTS
- Maiden JORC Resource of 1,2Mt (Indicated and Inferred) at an average grade of 412ppm Ta2O5, 76ppm Nb2O5 and 0.29% Li2O declared over 4 outcropping LCT pegmatites at Swanson Project
- Resource estimated over 4 of 15 known LCT pegmatitesthat lie within the Swanson Project area of 83ha out of a total 1010ha of areas that are known to contain pegmatites in the license area
- 1,100m drilling program ongoing over 11 of the 15 LCT pegmatites at the Swanson Project, with a third drill rig planned to commence drilling shortly
- Resource update expected in Q1/2022
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