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Ardiden Ltd (ASX: ADV)

Ardiden Ltd (ASX:ADV) is spinning the drill bit at its Seymour Lake Lithium project in Canada and drilling looks to already be delivering results.

ADV will diamond drill approximately 1500m all up and in encouraging signs, the first hole has already intersected spodumene bearing lithium structures at a shallow depth of less than 50m.

The start of its drilling campaign is a key milestone for ADV, which is drilling in an area with a proven track record of extensive mineralisation.

It is also an area that could help ADV tap into North American demand for high quality lithium sources, being just 100km from the border from the USA…

ADV isn’t just lithium focused, it also has its eye on proving up a North American graphite source – another key ingredient in lithium ion batteries.

On top of its lithium drilling, ADV is also about to plunge the drill into its graphite deposit at its Manitouwadge Graphite Project in the coming weeks.

Both the lithium and graphite projects have a Q2 2017 target date for defining a JORC resource.

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With over $3 million in the bank at the end of last quarter, ADV is well placed to see out its drilling at both its lithium and graphite projects.

And with drilling underway right now and more to begin in the coming weeks, we could well see further milestones reached in the near term.

 

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ADV’s Lithium Drilling Now Underway: Graphite to Follow

The drill bit is officially spinning at Ardiden Ltd’s (ASX: ADV) Seymour Lake Lithium Project in Canada, and it’s already drilled a successful first hole. Ultimately some 1,500m of diamond drilling will be completed, and the first hole has already intersected spodumene bearing lithium structures at a shallow depth of less than 50m.

Nov 7, 2016 Continue Reading

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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