Ardiden Ltd. Review Highlights Further Potential at Seymour Lake

Perth - Ardiden Ltd. (ASX:ADV) is pleased to provide an update on the due diligence review of the Seymour Lake Lithium Project in Ontario, Canada following the recent completion of its highly successful maiden drilling program.


Highlights:

- Due diligence review confirms that the mineralisation is open in all directions at the North and South Aubry prospects at the Seymour Lake Lithium Project in Ontario, Canada (under option).

- Review also identifies an additional pegmatite structure east of current prospects.
- Five new drill-ready lithium targets identified to potentially expand the known North and South Aubry prospects.


SEYMOUR LAKE LITHIUM PROJECT

As previously announced by Ardiden on 5 May 2016, the recently completed due diligence drilling program confirmed the high potential of Seymour Lake to host a quality lithium deposit. Although limited drilling was undertaken on the project, the latest results have further increased the Company's confidence in the historical drill data and the overall prospectivity of the Seymour Lake Project.

The assay results included several thick intercepts of spodumene-lithium mineralisation with all 150 drill core samples from the program showing various grades of lithium, including an exceptional grade of 5.4% Lithium Oxide (Li2O).

Logging and sampling of all six diamond drill holes confirmed the strong presence of spodumene, with more than 52% of the drill core (147.2m) being readily identified as spodumene pegmatite. In addition, the assay results confirmed the original visual logging of the drill core, with 30% of all 150 drill core samples returning assay results greater than 2.0% Li2O and 15% of samples with grades above 3.0% Li2O.

Ardiden notes that 55% of assay results (82 samples) from the drill core graded above 1% Li2O, and these 82 samples had an overall weighted average grade of 2.4% Li2O, which is calculated by the sum of the assay results divided by the number of samples being reviewed.

Table 1 (see link below) highlights the various intervals of the drill holes which contained lithium mineralisation that reported above the cut-off grade of 0.5% Li2O and is expressed as the weighted average grade for each drilled interval.

The Company confirms that 67% of the assay results (100 samples) from the drill core reported above the 0.5% Li2O cut-off grade. The remaining 50 samples fell below the cut-off grade have not been reported in this announcement.

The significant potential of the Seymour Lake Project is highlighted by drill hole SL-16-45, which intersected almost 36 continuous metres of spodumene mineralisation with a weighted average lithium grade of 1.8% Li2O (refer to Table 2, see link below).

These assay results relating to the last four diamond drill holes from the six-hole program and including drill holes SL-16-42, SL-16-43, SL-16-45 and SL-16-46, verified the presence of various significant high-grade lithium mineralisation zones expressing at or close to surface at the Seymour Lake Project.

The cross-section (Figure 2, see link below) highlights the large outcropping zone of the pegmatite structure at the North Aubry prospect. The main pegmatite structure at the North Aubry prospect is hosted in a vertically stacked series of gently dipping pegmatite sills, has so far been confirmed as being at least 250m wide and 300m long, and remains open in two or more directions.

The assay results from drill holes SL-16-42 and SL-16-45 (highlighted in blue) in Figure 2, have helped to validate the previous historical drill results, which show substantial and continuous zones of high grade lithium mineralisation within the pegmatite structure.

The results from the last four drill holes are encouraging when compared to other spodumene-lithium deposits from around the world, where average lithium grades of 1.1% to 1.3% Li2O are considered to be economic and suitable to mine. Ardiden notes that the weighted average lithium grades in Table 2 above for each drill hole is equal to or well above this global level.

The Company also notes that a review of all 150 drill core samples taken from the six drill holes (which encountered a total of 147.2m of spodumene mineralisation) in the due diligence drill program at Seymour Lake - including all the samples that graded below the cut-off grade of 0.5% Li2O - indicated that the weighted average grade was an impressive 1.46% Li2O.


FURTHER LITHIUM POTENTIAL

As a result of the due diligence review, Ardiden is pleased to confirm that at least five additional drill-ready targets have now been identified at the North and South Aubry prospects at the Seymour Lake Lithium Project (see Figure 3, in link below).

These drill targets have been identified by the Company after reviewing the current and historical drilling results, mapping and exploration reports, including an analysis of the historical soil and rock chip samples which defined a number untested anomalous zones in and around the North and South Aubry prospects.

The review has confirmed that only limited exploration has been undertaken at the project and the lithium-bearing pegmatite structures are yet to be fully defined and remain open in all directions at North and South Aubry prospects. Ardiden has now identified five new drill-ready targets which will provide Ardiden with the opportunity to expand the known lithium mineralisation zones at the the North and South Aubry prospects. Additionally, previous regional mapping at the project identified a further pegmatite structure (Pye), located approximately 1km due east of the North Aubry prospect, which has not been properly explored or drill tested. The Pye prospect provides a further significant opportunity for Ardiden to expand the known lithium high grade lithium mineralisation zones at the project.

The next phase of exploration for Ardiden at the Seymour Lake Project prior to undertaking further drilling is likely to include a further analysis of the current and historical data in conjunction with a detailed geological and structural mapping program, in order to develop a better understanding of the pegmatites and the influence of the surrounding structures.


CONCLUSION

The due diligence review in conjunction with the limited drilling program has helped Ardiden to recognize the further potential at the Seymour Lake Lithium Project to host a quality lithium deposit.

The identification of the additional pegmatite structure at Pye and the definition of five new drill-ready targets has provided Ardiden with the potential to substantially increase the known high- grade lithium mineralisation zones which have already been outlined at the North and South Aubry prospects.

Ardiden looks forward to providing further updates as they come to hand.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/N28L4295


About Ardiden Ltd:

Ardiden Ltd. (ASX:ADV) is an Australian mineral exploration company seeking to generate shareholder wealth by identifying, acquiring and developing mineral projects in any jurisdiction that possess the potential for cashflow and growth



Contact:

Ardiden Ltd.
E: info@ardiden.com.au
www.ardiden.com.au

Brad Boyle
Ardiden Ltd.
Tel: +61-8-6555-2950

Nicholas Read
Read Mobile: +61-419-929-046