Arcadia Minerals (ASX:AM7) reports assays from the first hole drilled has confirmed lithium mineralisation at the Madube Pan Prospect, located within the Bitterwasser Lithium in Clay Project in Namibia.
The company says hole MDB01, which was the first hole drilled at Madube Pan indicates the grades within the green clay units intersected are similar to the grades of the green clays intersected at Eden Pan, with the hole intersecting 9.6m @ 605ppm Li.
The clay thickness analysed from the 8 holes drilled to date at the Madube Pan suggest the green clay unit is 44% thicker than the green clay unit of the Eden Pan, which has in Inferred Mineral Resource of 85.2 million tons @ 663ppm Li for 286,909 tons of lithium carbonate using a 500pm Li cut-off.
Arcadia Minerals CEO Philip le Roux said: “We are encouraged that the tenor of mineralisation over the Madube Pan seems to replicate that which we’ve encountered over the Eden Pan.
“We are encouraged that the tenor of mineralisation over the Madube Pan seems to replicate that which we’ve encountered over the Eden Pan”
Considering the wider intercepts and similar mineralisation levels encountered at the Madube Pan, we are hopeful that it could lead to a meaningful expansion of the existing mineral resource over the Bitterwasser Clay project once drilling has been completed.”
Arcadia reports 11 of the planned 15 auger holes over the Madube Pan have been received, and on confirmation of lithium mineralisation within the pan, the company has increased the drill program to 24 holes.
The Madube Pan is one of 14 exposed pans at the Bitterwasser Project, and the drilling at this pan is expected to be completed by December 2022, with assays expected by Q1 2023.
The company says 8 of the 11 holes intersected the green mineralised clay unit, and the holes that did not intersect it were drilled on the edge of the pan, with the green clay unit being located in the centre of the pan, which was also the case with the Eden Pan.
Arcadia Minerals is a Namibia-focused diversified metals exploration company based in Guernsey exploring for a suite of gold and ‘new era’ metals including lithium, tantalum, palladium, nickel and copper.
The company’s projects include the Bitterwasser Lithium and Clay and Lithium in Brines Project, the Kum-Kum Project, the Karibib Project and the Swanson Project.
Images: Arcadia Minerals Ltd
