Highlights

• Initial field work over eight pegmatites has discovered tantalum-rich pegmatites.
• Three of the eight pegmatites reported high-grade tantalum mineralisation. Below are the details of significant mineralisation across three pegmatites:
  • Pegmatite A: 536 ppm Ta₂O₅
  • Pegmatite A: 785 ppm Ta₂O₅
  • Pegmatite A: 990 ppm Ta₂O₅
  • Pegmatite D: 1,063 ppm Ta₂O₅
  • Pegmatite A: 1,310 ppm Ta₂O₅
  • Pegmatite G: 2,498 ppm Ta₂O₅
  • Pegmatite D: 4,911 ppm Ta₂O₅
  • Pegmatite D: 21,839 ppm Ta₂O₅
• Under the current exploration program, 200 prospective pegmatites are under investigation around the Swanson Ta/Li project.
• Mapping and sampling are expected to continue over EPL 5047 and EPL 7295 in October 2023.

Arcadia Minerals Ltd (ASX: AM7 / FRA: 8OH) has shared grab sampling program results covering eight pegmatites of over 200 pegmatites within the company’s license areas - EPL’s 5047 and 7295.

These eight pegmatites on EPL 5047 are located within trucking distance from the Swanson Mine.

Three of the eight pegmatites reported high-grade tantalum mineralisation. Below are the details of significant mineralisation across three pegmatites:

• Pegmatite A: 536 ppm Ta₂O₅
• Pegmatite A: 785 ppm Ta₂O₅
• Pegmatite A: 990 ppm Ta₂O₅
• Pegmatite D: 1,063 ppm Ta₂O₅
• Pegmatite A: 1,310 ppm Ta₂O₅
• Pegmatite G: 2,498 ppm Ta₂O₅
• Pegmatite D: 4,911 ppm Ta₂O₅
• Pegmatite D: 21,839 ppm Ta₂O₅

The licences are held by Orange River Pegmatite (Pty) Ltd, and AM7 holds an 80% interest in Orange River.

Data source: Company update

Detail of the field work near Swanson

Over the EPL 5047 and EPL 7295, over 200 known pegmatites were identified, and Arcadia explored the licenses with 48 rock chip samples collected from eight outcropping pegmatites.

Through a mapping and sampling program, the company intended to examine whether the mineralisation of pegmatites occurs outside the known Swanson pegmatite swarm. At this swarm, the company has reported JORC mineral resources, concluded a definitive feasibility study and commenced mine construction.

Data source: Company update

Best and average assay results for eight pegmatites

Eleven out of 48 rock chip samples collected from pegmatites reported grades of over 233 ppm Ta₂O₅. The company highlighted that this was also the cut-off grade for the Swanson Mineral Resource.

The table below provides the details of the best and average results from each pegmatite.

Image source: Company update

• Pegmatite G – The tantalum mineralisation indicates the prospectivity of the pegmatites.
• Pegmatite H – The mineralogy of this pegmatite encompasses pale green muscovite and aplitic albite. Since the green colour of fine-grained muscovite is persistent, preliminary investigation expected lithium mineralisation in the pegmatite system.
• Pegmatite A – Also known as the Beacon pegmatite, it is around 1km long with minor breakups but thin pegmatite. Considering the pegmatite’s length, Ta and Li content is expected to increase with depth, subject to the anatomy and geometry below the surface.
• Pegmatite D – Recent ORP indicated the high prospectivity of this pegmatite.