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- Arcadia Minerals (AM7) confirms lithium mineralisation in a third pan at its Bitterwasser project in Namibia
- Drilling at the Stryfontein pan returned similar lithium grades to holes drilled at the Eden and Madube pan, with up to 763 parts per million lithium hit over 1.6 metres
- Given the results, AM7 expects Stryfontein to contribute to an enlarged mineral resource at the project, planned for the second quarter of this year
- AM7 plans to carry out 15 additional drill holes at Stryfontein in May after an in-fill drilling program at the Eden Pan is completed next month
- AM7 shares are down 4.35 per cent and trading at 22 cents at 2:22 pm AEDT
Arcadia Minerals (AM7) has confirmed lithium mineralisation in a third pan at its Bitterwasser project in Namibia.
Two holes drilled at the Stryfontein pan have yielded similar lithium grades to those drilled at the Eden and Madube pan, with a maximum of 763 parts per million of lithium over 1.6 metres.
The stryfontein pan is one of 14 exposed pans at the project. AM7 CEO Philip le Roux said the confirmation of lithium mineralisation here was “good news” as it indicated the potential to grow the existing mineral resource, which is presently limited to the Eden Pan.
“The initial assay results at Stryfontein confirm a pattern of clay mineralisation encountered at the Eden and Madube pans,” Mr le Roux said.
“With the results received at the Madube Pan 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.”
A further 15 drill holes are planned at Stryfontein in May following the completion of an in-fill drilling program at Eden plan scheduled for next month.
A mineral resource estimate for the project is planned for the second quarter of this year.
AM7 shares were down 4.35 per cent and trading at 22 cents at 2:22 pm AEDT.
