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Arcadia Minerals (ASX:AM7) commences drilling at Bitterwasser Lithium project

Highlights

  • Currently, the Bitterwasser lithium project holds an inferred JORC mineral resource of 15.1 million tonnes with grades of 828 ppm Li and 1.79% K at a cut-off grade of 680ppm Li.
  • The estimated mineral resource at the lithium clays project is hosted within one of the seven pans and represents just 6% of the exposed clay pan surfaces.
  • Currently, the company is pursuing 3 simultaneous exploration programs at 3 of its 4 mineral projects.

Shares of Guernsey-based Arcadia Minerals Limited (ASX:AM7) surged more than 5% to trade at AU$0.22 a share during the early trading session on 1 December 2021 after announcing the commencement of a drilling program at the Bitterwasser Lithium Clays Project.

The diversified minerals exploration company targets to define JORC-compliant mineral resources at the lithium project in Namibia. Currently, the Bitterwasser project holds an JORC complaint mineral resource of 15.1 million tonnes with grades of 828 ppm Li and 1.79% K. The inferred mineral resource was estimated at a cut-off grade of 680ppm Li.

Must Read: Arcadia Minerals Limited (ASX:AM7) lists on Frankfurt exchange, now a dual-listed exploration player

The estimated mineral resource at the lithium clays project is hosted within one of the seven pans and represents just 6% of the exposed clay pan surfaces, therefore highlighting the significant potential for future exploration. It is noteworthy that the lithium clay project is a part of the greater Bitterwasser Lithium-in-Brines and Clays prospect with substantial potential for lithium discovery.

Bitterwasser Lithium Clays Project

Bitterwasser Lithium Clays Project Source: Arcadia Minerals Limited Company Announcement 1 December 2021

The drilling program targets to expand the existing mineral resource base at the lithium project which stretches over ~593km2. Outcomes of the scout drilling will be beneficial for planning the proposed drilling activity at the remaining six pans next year. Overall, Arcadia holds a significant ground footing stretching over 4,031km2 at the project.

Also Read: Arcadia Minerals Limited (ASX:AM7) jumps 43% on acquisition of lithium project

The Kalkrand Half-Graben geological feature exhibits first-order requirements to qualify as the next world’s trending district-scale Lithium province similar to Clayton Valley in Nevada, the US.

Exploration Strategy

Arcadia believes it is well placed for forthcoming exploration programs and will continue to assess exploration targets at its highly prospective portfolio in Namibia. Currently, the company is pursuing 3 simultaneous exploration programs at 3 of its 4 mineral projects, including –

  • A drill program at the Swanson Tantalum project – Three drill rigs are currently operational at the project site. The drill program plans to expand the existing mineral resource of 1.2 million tonnes with grades of 412 ppm Ta2O5, 76ppm Nb2O5 and 0.29%Li2
  • A drill program at the Bitterwasser Lithium Clay Project.
  • Mineralogical and geophysical assessment at the Kum-Kum Nickel and PGE project – A mineral systems approach study is ongoing at the project to identify targets.

Arcadia envisions aggressively pursuing the development of the Swanson Tantalum project for rapid cash and value generation. The company pursues a three-pillar exploration strategy to –

  • Emerge as a potential cash generator.
  • Explore its potential company transforming assets.
  • Utilising seasoned human resources with significant experience in project generation, development and operations.

Proposed drill program at Bitterwasser lithium project

The follow-up auger drill program at the lithium clays project will comprise of 52 holes and 12 boreholes. The initial drilling will assist in geostatistical analysis and is anticipated to be completed by January 2022.

The expenses of upcoming work programs will be funded by LexRox Management Services, a South African company owned by executive directors of Arcadia, then upon AM7’s shareholders approving the acquisition, the funds from the work program estimated around AU$50,000 are to be reimbursed to LexRox. The shareholder’s approval must be secured as per the ASX Listing Rule 11.1.2.

Read Here: Arcadia Minerals announces maiden resources at Swanson, Metallurgical test results received

So far, only 26% of the main pan has been drilled. The drilling program plans to test extensions of the current JORC complaint mineral resources at one of the seven exposed pans. A 300kg bulk sample will be collected during the program and will be shared with European speciality and minerals player, Anzaplan (Dorfner Group), to undertake the mineralogy and metallurgical analysis on the clays at the Bitterwasser project. The metallurgical study will be used to extract lithium from clays using the proprietary extraction process.

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