Arcadia Minerals (ASX:AM7) is aiming to deliver an updated Mineral Resource Estimate (MRE) in Q1 2024 for its Eden Pan prospect as part of its Bitterwasser Lithium Clays Project in Namibia.
The diversified minerals explorer recently completed drilling at Eden pan, comprising 26 holes which aimed to possibly upgrade the mineral resource classification and, once achieved, to begin a Scoping Study / Pre-Economic Assessment over the lithium in clays of the Eden Pan.
Arcadia Minerals Chief Executive Officer (CEO) Philip le Roux says the company’s observations of the core from drilling validated lithology and widths similar to those intersected during the first 2 drilling campaigns.
“Analyses of the infill drilling core is expected to confirm lithium mineralisation to a similar tenor encountered during the previous drilling programs, which in turn should translate into an upgrade of the resource classification from an inferred mineral resource to an indicated mineral resource.”
“Analyses of the infill drilling core is expected to confirm lithium mineralisation to a similar tenor encountered during the previous drilling program…”
A drill core was also used to produce a 140 kilogram composite sample, which will be used for supplementary leach testwork by MetalTek using proprietary Fines Optimised Heap Leach (FOHL) technology.
The company says 155 clay samples were collected and sent to Scientific Services in South Africa for analyses. These are expected to be returned in January 2024.
Further, Arcadia has begun exploration drilling at its Meerkat Pan prospect, also as part of its Bitterwasser project.
Arcadia is a Namibia-focused minerals explorer with assets considered prospective for lithium, tantalum, platinum group elements, nickel, and copper.
As of 30 September 2023, the company had $636,000 cash and cash equivalents at hand, according to its latest quarterly report. Although, an additional $430,000 was received post-quarter-end from substantial shareholder Raubex Group.
Write to Aaliyah Rogan at Mining.com.au
Images: Arcadia Minerals
