Arcadia Minerals (ASX:AM7, FRA:8OH) discovers mineralised lithium brines, shallow clays at Bitterwasser

May 17, 2023 10:37 AM AEST | By Manisha

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Arcadia Minerals (ASX:AM7, FRA:8OH) discovers mineralised lithium brines, shallow clays at Bitterwasser — Image source: AM7 website

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Highlights

Arcadia Minerals has discovered brines mineralised with lithium from 28m below surface over Geophysical Anomaly at Bitterwasser after stratigraphic drilling.

Rudimentary test work over samples of the brine confirms presence of brines at Bitterwasser as well as occurrence of lithium in the brines.

Also, additional clay formations have been found below the Eden Pan and samples have been submitted for assaying.

The company intends to begin targeted specialist sonic drilling operations at the earliest or before August end this year.

ASX-listed diversified exploration company, Arcadia Minerals Ltd (ASX:AM7, FRA:8OH) has discovered mineralised brines and shallow clay bodies at the Bitterwasser Lithium Brines and Clay Projects.

The company performed drilling at three drill targets into the stratigraphy across the Bitterwasser Basin that were defined post a geophysical interpretation. This was done with the purpose of supporting exploration using stratigraphic data obtained from the edge of the geophysical anomaly, the middle of the geophysical anomaly, and a hole from within the Bitterwasser Pan District.

The drill results corroborated that the EM geophysical anomaly showed the brines within the basin, and that the basement contains impervious basalt, and that the brines are within coarse sediments (gravels) which are conducive to pumping brines at high rates.

The outcome also confirmed deeper lying clay formations underneath the Eden Pan, that were sampled and submitted for assay. The stratigraphic holes data has added to the company’s confidence in the geological model and offered an improved understanding of the half graben and sub basin structure.

AM7 stock performance

The company stock has soared by over 14% in the past month. AM7 shares were spotted trading at AU$0.20 at the time of writing on 16 May 2023, up more than 2.5% from the last close. The company has a market cap of AU$16.67 million.

More to come…

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