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Highlights
- Arcadia Minerals (ASX:AM7, FRA:8OH) has reported an encouraging update from drilling at the Bitterwasser Lithium-in-Clay Project.
- The company has reported similar lithology at the first auger hole drilled at the Madube Pan to that of the Eden Pan.
- Intersected green clay units are 44% thicker than the Eden Lithium Pan’s widest intercept.
- Arcadia believes that the latest development indicates potential of the Bitterwasser lithium resource to grow further.
Arcadia Minerals (ASX:AM7, FRA:8OH) recently announced a significant update concerning its Bitterwasser Lithium-in-Clay Project.
In the latest development, the battery metals-focused exploration firm has kicked off drilling over additional exposed clay pans at the Bitterwasser Lithium-in-Clay Project.
Arcadia believes drilling is fruitful as it indicates a higher lithium resource potential of the project.
Similar lithology to the drilled Eden Lithium Pan
Arcadia Minerals has kicked off auger drilling on Madube Pan as part of an exploratory third phase drilling program. Madube Pan is one of the fourteen exposed clay pans sits within the Bitterwasser Lithium in Clay Project area. So far, he Eden Pan is the only pan entirely drilled by the Company.
The first hole MDB01 at Madube Pan intersected similar lithology to that of Eden Lithium Pan, which has an already defined JORC resource of 286,909t Li2CO3 (Lithium Carbonate Equivalent).
Click here for further details about the Eden Pan’s JORC resource.
The green clay units observed from the Madube Pan’s first auger hole are far more thicker than the widest intercept of the similar lithology intersected at Eden Lithium Pan. It is 13m wide or 44% thicker than the Eden Lithium Pan’s widest intercept (9m).
(Source: © 2022 Kalkine Media®, data Source: company’s update, image source: company’s website)
What’s next?
Arcadia is continuing its exploratory third phase of drilling program, with a total of 15 holes planned. The drilling campaign over the Madube Pan, as well as other pans, is planned until the end of November 2022.
The company plans to implement an extended drilling program, if positive lithium mineralisation is intersected elsewhere on Madube Pan or other pans planned to be drilled.
Share price
Arcadia’s share price traded at AU$0.3 on 12 October 2022.
