Ardiden Ltd.: Maiden Exploration Drilling to Commence at Wisa Lake

Lithium and graphite explorer Ardiden Ltd. (ASX:ADV) is pleased to advise that an initial six-hole reconnaissance diamond drilling program is set to commence next week the Wisa Lake Lithium Project (under option) in Ontario, Canada.

The Wisa Lake Project has extensive spodumene (lithium ore)-bearing pegmatites, over 1,700m of historical diamond drilling and a known lithium mineralisation zone.

HIGHLIGHTS:

- Drill rig and geological team mobilising to site to commence initial reconnaissance diamond drilling program.

- Diamond drilling program expected to commence next week to confirm mineralisation zones at the North Zone pegmatite and potential extensions.

Wisa Lake Lithium Project

The Wisa Lake Lithium Project is located 80km east of Fort Frances, in Ontario, Canada and only 8km north of the Minnesota/US border. The property is connected to Highway 11 (Trans-Canada), which is located 65km north via an all-weather road that crosses the centre of the project. The project is less than 3 hours' drive from Thunder Bay, a leading regional mining jurisdiction in Ontario with key local infrastructure including a skilled mining workforce and excellent local logistics and infrastructure. It has strong potential to provide high quality product to supply growing North American demand and export markets.

The Wisa Lake Lithium Project consists of five claims (1,200 hectares) and covers known occurrences of multiple spodumene-bearing pegmatite zones. In 1956, Lexindin Gold Mines Ltd. completed a total of 20 drill-holes (backpack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m, to identify the Wisa Lake pegmatites. The most easterly hole intersected a pegmatite with a true width of 6.4m containing an estimated 20% of the lithium-bearing mineral spodumene, suggesting that the mineralization is open at depth and to the east. (Lexindin Gold Mines Ltd., Manager's Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012).

In early 2016, Alset Minerals Corp. ("Alset") staked the project and completed a limited exploration, mapping and sampling program at the two mineralisation zones at the Wisa Lake Lithium Project. Alset advised the grab samples collected from the North Zone pegmatite returned grades of up to 1.4% Li20. Grab samples collected by Alset in the South Zone pegmatite, located 900m south and parallel to the North Zone pegmatite, which returned grades of up to a very impressive 6.38% Li2O.

Both the North and South Zone pegmatites were drilled in the 1950s but very little work has been completed since then. Alset has collected and submitted approximately 60 grab samples for assay from various pegmatites occurring on the property.

North Zone Pegmatite

The North Zone pegmatite, which was traced through surface exposures by Alset personnel for nearly 1.5km of strike length and was defined by historical drilling over a strike length of 335m. The historical drill logs from Lexindin Gold Mines Ltd report, show that the lithium mineralisation is open to the east and at depth and future drilling could substantially expand the historical resource.

South Zone Pegmatite

The South Zone pegmatite was also drilled in the 1950s, but not to the extent of the North Zone. This area of interest appears to have the highest spodumene content discovered on the property, with 6.38% Li2O reported from a grab sample, and will be a key focus of the company's exploration and due diligence review.

New Pegmatite Dykes

Additionally, Alset discovered further spodumene-bearing dykes during their April 2016 exploration program. One dyke was located 100m south of the South Zone pegmatite and a further pegmatite exposure was mapped approximately 3km to the west of the historical lithium mineralisation in the North Zone pegmatite (refer Figure 3 in the link below).

Ardiden confirms it has the required permit from the Ministry of Northern Development and Mines (MNDM) to drill and trench on the project, which will allow Ardiden to undertake the exploration diamond drilling program in order to obtain a better understanding of the known pegmatites and the influence of the surrounding structures which will help to define the Wisa Lake Lithium Project's potential.

Due to some unforeseen lengthy delays with Alset, stakeholder engagement with the Lac la Croix First Nation was hindered, resulting in a delay in gaining site access which impacted on Ardiden's ability to complete the drilling program.

Ardiden has commenced stakeholder engagement and has already established a working relationship with the Lac la Croix First Nation community. The community is now actively assisting Ardiden with drilling and exploration activities by providing access to heavy earthmoving equipment, workers, community infrastructure and facilities.

Ardiden advises that a drilling team and rig has now been sourced and engaged. The drilling rig and geological team are about to mobilise to site at Wisa Lake, with drilling expected to be underway at site by next week, to undertake an initial limited reconnaissance exploration drilling program.

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

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About Ardiden Ltd:

Ardiden Ltd. (ASX:ADV) is an emerging international strategic metals company which is focused on the exploration, evaluation and development of two 100 per cent owned projects located in the established mining jurisdiction of Ontario, Canada.



Contact:

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

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