Ardiden Ltd.: Intersects Thick Zones of Pegmatite in Maiden Drilling at Root Lake Lithium Project

Perth, Australia - Ardiden Ltd. (ASX:ADV) is pleased to advise that it has intersected thick zones of near-surface pegmatite mineralisation in its maiden diamond drilling program which was completed recently at the McCombe pegmatite on the Root Lake Lithium Project in Ontario, Canada.

Highlights:

- Maiden due diligence diamond drilling completed at Root Lake Lithium Project in Ontario, Canada (under option).

- All eight drill holes intersected the spodumene-bearing pegmatite structures.

- Initial logging shows numerous spodumene-bearing pegmatite zones located near surface and with true widths of up to 14m

- Continuity of the pegmatite mineralisation confirmed for up to 69m down-dip.

- 162 drill core samples now sent to Actlabs in Thunder Bay.

- Review also identifies an additional pegmatite structure south of current pegmatite structures.

ROOT LAKE PROJECT

As with its recent drill program at Seymour Lake, the successful and early intersection of spodumene-bearing pegmatite structures at the Root Lake Lithium Project has once again meant that Ardiden only needed to complete 8 diamond drill holes, for a total of 467.5 drilled metres.

The limited and targeted due diligence drilling program was completed to twin or validate historical drill holes and resource results.

Further the drilling was to provide Ardiden with sufficient drill core samples in order to undertake full metallurgical analysis, including a metallurgical drill-hole sample of almost 69 continuous drilled metres of pegmatite, which importantly verifies the down-dip extension of the mineralisation zones of the historic resource at the McCombe pegmatite.

Initial logging of the recently completed drill holes has immediately confirmed the strong presence of spodumene mineralisation at the Root Lake Project, with numerous occurrences being readily identified as spodumene pegmatite.

Ardiden confirms that 162 drill core samples have been logged, cut and prepared from the eight diamond drill holes with samples obtained and delivered to the ActLabs in Thunder Bay for formal analysis.

A review of the drill core has shown that each drill-hole intersection has substantial zones of the spodumene pegmatite near-surface with true widths of up to 14m (refer to Table 1, in link below), which is a very encouraging result for Ardiden.

The drilling has delivered visible confirmation of the spodumene pegmatite structures which provides further evidence in support of the historical data and continuity of the mineralisation zones at Root Lake and will underpin the Company's due diligence review of the project.

Further, these drilling results will assist Ardiden to define the boundaries of the main outcropping spodumene-bearing pegmatite structures which host the lithium mineralisation at the project and, subject to obtaining assay results, validate the historical reported lithium grades at the McCombe pegmatite. This will provide Ardiden with greater confidence in the prospectivity of the project and potential to define a JORC Compliant lithium resource.

The Root Lake Lithium Project includes a number of known lithium occurrences including the McCombe pegmatite (known strike length of 550m) and the Root Lake pegmatite (known strike length of 1,200m). The claims area and location of the pegmatites is shown in Figure 2 (see link below).

MCCOMBE SPODUMENE-BEARING PEGMATITE

As previously reported by Ardiden on 10 February 2016, lithium mineralisation at the Root Lake Project is associated with spodumene bearing pegmatites which are found at several locations on the property. A significant occurrence, the McCombe pegmatite, is located in the north-western portion of the Root Lake property.

Capital Lithium Mines Ltd. completed a diamond drilling programme on the Root Lake property in 1956, consisting of 55 drill holes for 10,442m. Capital Lithium Mines Ltd. outlined a 2,333,752 tonne deposit (NB: Not JORC or NI 43-101 compliant) at the McCombe pegmatite grading 1.3% Li2O. This non-compliant deposit covers less than 5% of the Project area.

The McCombe pegmatite is located on a patent claim. Patent claims are an historical form of land tenure granted in Ontario that is more akin to freehold land and may therefore (in certain circumstances) allow for a more accelerated development pathway. A further technical review of the Root Lake patent claims will be undertaken as part of the due diligence process. The due diligence review also includes a review of available borehole logs, assay depths, drill collar coordinates, drill orientations and cross-sections from the McCombe and Root Lake pegmatites.

FURTHER LITHIUM POTENTIAL

As a result of the current evaluation, Ardiden is pleased to confirm that a review of historical mapping and exploration reports has enabled the Company's exploration team to identify a further outcropping pegmatite structure which is located approximately 3km to the south of the Root Lake pegmatite structure and has not been properly explored or drill tested.

The review has also identified the potential to expand the McCombe and Root Lake lithium-bearing pegmatite structures which are yet to be fully defined and remain open in all directions. This will provide Ardiden with the opportunity to further expand the known lithium mineralisation zones on the Root Lake Lithium Project.

CONCLUSION

Ardiden considers the early intersection of significant zones of spodumene-pegmatite mineralisation close to surface at the Root Lake Project as a very positive outcome of the drilling program and the identification of additional pegmatites structures reaffirms the high potential of this project area to host a JORC Compliant lithium resource.

The Company looks forward to providing further exploration updates as they come to hand.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/Z4719Q02


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: www.ardiden.com.au Brad Boyle Ardiden Ltd. Tel: +61-8-6555-2950 Nicholas Read - Read Mobile: +61-419-929-046