- Arcadia has announced the commencement of drilling activities at the flagship Swanson Tantalum/Lithium exploration project.
- Furthermore, Snowden consultant has been finalising the report that could include the maiden JORC resource estimates for Swanson.
- The drill program is anticipated to be concluded by November 2021 and the assay results for all the samples are expected by December 2021.
In less than 3 months of its successful listing on the ASX, Arcadia Minerals Ltd (ASX:AM7) announced the commencement of drilling activities at the flagship Swanson Tantalum/Lithium exploration project.
Arcadia has involved the industry veteran resource consultant, Snowden Mining Industry Consultants (Pty) Ltd (Snowden), which is finalising the report that could contain the maiden JORC mineral resource at Swanson.
Arcadia owns 80% interests (via Orange River Pegmatite (Pty) Ltd) in the advanced Swanson project, located in the renowned and prolific Tantalite Valley of Namibia. In early August, road construction, preparation of drill pads and the development of water were done to enable the drilling to commence.
1,100 diamond drilling program at Swanson
The 1,100m diamond drilling program will target 22 holes at the Swanson pegmatite swarm, covering 83 ha of the total 1010 ha at ORP’s Exclusive Prospecting License 5047.
Longitudinal section of Pegmatites at Swanson Swarm with the areas under focus in the planned drill program (green) Source: Arcadia Minerals 1 September 2021
The drill program will test as many as 11 of the 15 known pegmatite formations at Swanson focus area which covers only 83 ha of the total 1010 ha. Furthermore, the drill program seeks to test the opencast potential of the E5, E6, E7 and E8 pegmatites and the up-dip underground potential at the F1, E4, and E5 pegmatites.
Location of drill holes to be drilled in the drilling program Source: Arcadia Minerals 1 September 2021
The down-dip exploration and the testing of the remaining undrilled pegmatites at Swanson are yet to be explored and evaluated. Coring samples will be assayed by Scientific Services in Cape Town, South Africa. The drill program is anticipated to be concluded by November 2021 and the assay results for all samples are expected by December 2021.
Maiden JORC Resource Estimation in full swing
Arcadia anticipates the submission of a report by Snowden within the next 2 weeks that could include the initial JORC resources. ORP had appointed Snowden to conduct the mineral resource estimation and a pit optimisation study at the Swanson project based on the data compiled during the channel sampling and the 2020 initial drilling program. Subsequently, the project site was visited by Arcadia’s executive directors and the lead geologist, Mr Laubser Pepler.
Once the assay results for the proposed 22-hole drilling program are received, the company will decide upon involving Snowden for an additional mineral resource estimation. The company also anticipates receiving a preliminary mine design from Snowden by the end of September 2021.
Arcadia traded at AU$0.217 a share on 6 September 2021 at 2:42 PM AEST with a market capitalisation of AU17.95 million.