Arcadia Minerals (ASX: AM7, FRA: 80H) wraps up phase III of infill auger drilling at Eden Pan and commences Meerkat drilling at Bitterwasser Lithium Project

Highlights

• Infill drilling completed at the Bitterwasser Lithium Clays Project over the Eden Pan.
• Under the third phase of auger drilling, 26 infill holes have been drilled over a 250m grid spacing for 213m of core – assays pending and expected January 2024.
• A 140kg composite sample has been collected from the site post infill drilling for supplementary leach test work.
• AM7 is expecting a revised Mineral Resource statement for the Eden Pan by 1Q24.
• Drilling commences at untested Meerkat pan.

Diversified exploration company Arcadia Minerals Limited (ASX:AM7, FRA: 80H) has completed infill drilling at the Bitterwasser Lithium Clays Project over the Eden Pan. The campaign included drilling of 26 infill holes over a 250m grid spacing for 213m of core.

The infill drilling was conducted with the purpose of revising the Mineral Resource classification and thereafter to start a Scoping Study/Pre-Economic Assessment over the Lithium in Clays of the Eden Pan.

Also, the firm has initiated drilling at the Meerkat Pan at its Bitterwasser Lithium Clays ProjectThe Meerkat Pan has never been drill tested previously.

Further details about infill drilling

The Eden Pan is one of the 14 exposed clay pans based within the Bitterwasser Lithium in Clay Project area.

Previously, 80 holes were drilled at a 500m grid spacing in the two phases of drillingThis defined its JORC Mineral Resource at 286,909 tons Lithium Carbonate within 85 million tons at a cut-off grade of 500ppm lithium.

So far, around 155 clay samples along with 13 QAQC samples have been collectedThese samples will be analysed at Scientific Services in South AfricaThe results are likely to be announced next month in January 2024.

Arcadia is expecting a huge volume of the existing inferred resource to be re-classified to an Indicated Mineral ResourceIt will allow AM7 to begin a Scoping Study/Pre-Economic Assessment.

Furthermore, AM7 has complied around 140kg of the mineralised Middle Unit clay material from drillingThe company plans to get additional metallurgical test work done by Metaltek South Africa (Pty) Ltd (Metaltek) using this material.

Also, preliminary FOHL lab study will be done over the composite sample gathered during the infill drilling for checking the viability of the FOHL leach processOn receiving favourable results a heap leach of the material is possible, this would bring down the operational costs of the project.

Meanwhile, AM7 has initiated exploration drilling on the untested Meerkat Pan.

Map indicating the location of all three phases of drilling over the Eden pan

Image source: Company update

AM7 shares traded at AU$0.085 apiece in the morning hours on 05 December 2023