​​Operational Update: Bitterwasser Lithium Clays

Arcadia Minerals Limited (ASX:AM7, FRA:8OH) (Arcadia), is pleased to provide an update on the Lithium-in-Clays potential of its Bitterwasser Lithium Project, and reports that all the planned geostatistical drill holes (12-drill holes) and six of the 52 geological exploration drill holes of the follow-up auger drilling programⁱ that commenced on the 1^st of December 2021 have been completed. Additionally, the Company has dispatched a 153.7 kg clay sample for mineralogical and metallurgical test work.

HIGHLIGHTS

• 28% of auger drilling program has been completed and dispatched for analysis
• Representative 153.7 kg clay sample dispatched to Anzaplan in Germany for mineralogical and metallurgical test work to understand lithium concentrations and lithium bearing phases,andtoestablishtheamenabilityoftheBitterwasser clays to beneficiation

Auger drilling program

The auger drilling program is primarily aimed at possibly extending the existing inferredJORC Mineral Resource of 15.1 million tons @ 828ppm Li and 1,79% K (at a cut-off grade of 680ppm Li)ⁱⁱ located in only one of seven exposed pans, from an area that represents approximately 6% of the total exposed clay pan surfaces at the project.

A total of 143 drill hole samples consisting of 17 Quality Assurance & Quality Control (QA/QC) samples and 126 clay samples have been sent to ALS Laboratories in Johannesburg, South Africa for analysis.

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