
February 26, 2023
Arcadia Minerals Ltd (ASX:AM7, FRA:8OH) (Arcadia or the Company), the diversified exploration company targeting a suite of projects aimed at Tantalum, Lithium, Nickel, Copper and Gold in Namibia, is pleased to announce initial assay and stratigraphic results of the first two holes drilled at the Stryfontein pan. The Stryfontein pan is the third pan in the Bitterwasser Pan district to be confirmed containing Lithium mineralisation to a similar tenor as is seen at the Eden Pan, and where a Lithium-in-Clay JORC Mineral Resource of 286,909-ton Lithium Carbonate using a 500ppm Li cut-off has been defined.
HIGHLIGHTS
- Assay results confirm Lithium in Clay at Stryfontein pan, which is situated north of the mineralised Eden1 and Madube2 pans
- Stryfontein Pan is the third pan drilled out of 14 known exposed pans
- Assay results of first two auger holes indicate similar lithium grades to that of the holes drilled at the Eden and Madube pans:
- Hole MDDO1 returned up to 763ppm Li over a width of 1.6m and an average grade of 634 ppm Li over 4m at a cut-off of 500ppm Li (Note: only drilled from surface to a depth of 7m)
- Hole MDD02 returned up to 603ppm Li over a width of 1.4m and an average grade of 596 ppm over 4.2m at a cut-off of 500ppm Li (Note: only drilled from surface to a depth of 7.4m)
- Lithium Mineralisation was found to be dominant in green clay units as is seen at the Eden Pan, where a JORC Mineral Resource was defined of 286,909t Li2CO3 (LCE)3, and where similar grades and widths of mineralisation were encountered
- Stryfontein is expected to contribute to an enlarged Mineral Resource at the Bitterwasser Lithium Clay Project planned for Q2/2023
- Cyclone test work to be undertaken on both the Madube and Stryfontein clays to confirm potential to upgrade the lithium, like at Eden where results confirmed a 28% grade increase4
Philip le Roux, the Chief Executive Officer of Arcadia stated: “The initial assay results at Stryfontein confirms a pattern of clay mineralisation encountered at the Eden and Madube Pans. This is good news as it indicates the potential for the enlargement of our existing Mineral Resource, which is presently limited to only the Eden Pan. Eden Pan is 1 of the 14 exposed pans at Bitterwasser. With the results received at the Madube Pan5 and the possible confirmation of mineralisation over the rest of the Stryfontein pan, we expect to be able to meaningfully expand our Lithium-in-Clay Mineral Resource at Bitterwasser.
Together with our exploration work over the recently announced6 Bitterwasser Brine targets, which will kick off in March 2023, we will continue to explore the rest of the known clay pans at Bitterwasser, with the purpose of increasing our knowledge of the Bitterwasser Basin and expanding our resource base to the best extent possible.”
Assay results confirms Lithium in Clay at Stryfontein
The assay results of the initial two holes from the December 2022 drilling campaign drilled at Stryfontein Pan, were received. Drillhole locations (including positioning relative to the Eden and Madube Pans) and results are respectively tabled in Annexure 1 & 2 and Figure 1. A total of 2 holes were drilled at the Company’s Bitterwasser Lithium Clay Project in the Stryfontein Pan, which is one of the 14 exposed pans within the Bitterwasser Basin.
Additional drilling of an estimated 15 holes at Stryfontein will be conducted during May 2023 following completion of an in-fill drilling program commencing in March 2023 at the Eden Pan with the purpose of reclassification of the Mineral Resource from inferred to indicated or measured Mineral Resources. An updated Mineral Resource for the Eden Pan is estimated to be released during the second quarter of 2023 and a maiden Mineral Resource for Madube Pan is expected to be released during April 2023. Of the results received, Hole MDDO1 returned up to 763ppm Li over a width of 1.6m and an average grade of 634 ppm Li over 4m at a cut-off of 500ppm. At hole MDD02 results of up to 603ppm Li over a width of 1.4m and an average grade of 596 ppm over 4.2m at a cut-off of 500ppm were received. Hole MDD01 was drilled to a depth of 7m and hole MDD02 was drilled to a depth of 7.4m, where both ended in intermixed clastic fine clays, aeolian (wind-blown) sands and fine calcretes.
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.
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