Ardiden Ltd.: Secures a Third Lithium Project (Root Bay)

Perth - Lithium and graphite explorer Ardiden Ltd. (ASX:ADV) is pleased to advise that it has further expanded its lithium portfolio in Canada after staking and securing the grant of the Root Bay Lithium Project in Ontario, Canada, located immediately adjacent to its recently acquired Root Lake Project.

This follows the recent exercise of its option to acquire the Root Lake Lithium Project from Landore Resources Canada Inc. (see ASX Announcement - 11 July 2016).

The greenfields Root Bay lithium project will complement the Company's two advanced lithium-spodumene projects at Seymour Lake and Root Lake, as well as its 100%-owned Manitouwadge Graphite Project in Canada.

With a well-established and diversified minerals portfolio in Ontario, Ardiden is now in a strong position to move ahead with resource development activities in two commodities, namely lithium and graphite, which are currently experiencing strong demand due to the continued rapid growth of the energy storage and electric vehicle industries and increasing requirement for lithium ion batteries globally.

The Root Bay lithium project is accessible via local logging roads north of Sioux Lookout and is located approximately 300km north-west of the regional centre of Thunder Bay. The project is strategically located approximately 5km to the east of the recently acquired Root Lake Lithium Project and consists of three claim areas, totalling 720 hectares.

The project was staked by Ardiden as part of its regional exploration focus in and around the Root Bay spodumene-bearing pegmatite structure located in Claim 4282605 (refer to Figure 2 in link below). The outcropping Root Bay spodumene-bearing pegmatite structure was accidently discovered by a representative of the Ontario Ministry of Northern Development and Mines ("MNDM") in 2011.

The newly discovered pegmatite is exposed on the eastern side of a logging road along the prominent ridge that follows the presumed trace of the Lake St. Joseph Fault. The exposed pegmatite is described as hosted by locally pillowed, mafic metavolcanic rocks.

Initial observations by the MDNM states the dyke is characterized by coarse white albite, grey quartz and pale grey-green spodumene crystals up to 10cm long. The outcrop distribution of the pegmatite indicates that the spodumene dyke is perhaps 10m wide at this location along the limited, exposed contact of approximately 60m.

Ardiden confirms that limited exploration for lithium has been completed at this prospect. Given that Root Bay is a greenfields project, the Company will undertake an initial structural mapping and sampling program to determine the quantity and quality of the spodumene mineralization.

This initial exploration program will provide Ardiden with a better understanding of the spodumene-bearing pegmatite structure and will assist in identifying the extent of the mineralisation zone/s at this location. The mapping and sampling program will also provide Ardiden with the opportunity to potentially identify additional pegmatite structures in the area surrounding the Root Bay pegmatite.

These planned exploration activities at Root Bay will be conducted in conjunction with the upcoming work programs to be undertaken at both the Root Lake and Seymour Lake Lithium Projects.


CONCLUSION

By securing the Root Bay Lithium Project, Ardiden has significantly expanded its prospective ground-holdings in this emerging lithium district. The new ground package gives it additional opportunities to identify significant zones of spodumene-pegmatite mineralisation which are close to surface. With the Root Lake Lithium Project, this reaffirms the high potential of this region to host a JORC Compliant lithium resource.

Although limited work has been completed at the Root Bay prospect, the MDNM has already confirmed the presence of an outcropping spodumene-bearing pegmatite structure. Ardiden considers this latest acquisition to be a very positive outcome which complements and enhances its existing portfolio of high calibre projects.

Ardiden looks forward to undertaking the next phase of exploration activities on the Root Bay Lithium Project in the near future and to providing further updates as they come to hand.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/WP4FVVH9


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