Ardiden Ltd: Thick High-Grade Lithium Intercepts Continue at North Aubry

Perth - Ardiden Ltd. (ASX:ADV) is pleased to advise that recent diamond drilling has confirmed further high-grade extensions of the spodumene mineralisation down-plunge to the north of the recently announced Phase 1 Mineral Resource at the North Aubry Lithium Deposit, part of its 100%-owned Seymour Lake Lithium Project in Ontario, Canada.

HIGHLIGHTS:

- Strong assay results received from the last 7 diamond drill holes completed in the 2017 resource expansion drilling program, adding expansion potential to the Phase 1 Mineral Resource Estimate for the North Aubry Lithium Deposit at its 100%-owned Seymour Lake Lithium Project in Ontario, Canada.

- Results have again confirmed consistency and continuity of mineralisation extending to the north and the east of the current Mineral Resource boundary, with significant thick mineralised intercepts including:

o 27.62m at 0.99% Li2O from 135.22m down hole (SL-17-71) including:

-- 10.00m at 1.52% Li2O;
-- 5.00m at 1.72% Li2O; and
-- 2.0m at 2.14% Li2O;

o 21.50m at 1.02% Li2O from 47.80m down-hole (SL-17-77) including:

-- 6.00m at 2.59% Li2O;
-- 3.00m at 3.52% Li2O; and
-- 2.94m at 1.31% Li2O

o 16.45 at 0.95% Li2O from 70.30m down-hole (SL-17-75) including:

-- 8.00m at 1.04% Li2O;
-- 3.00m at 1.60% Li2O;
-- 3.00m at 1.47% Li2O; and
-- 1.00m at 2.27% Li2O.

- Drilling results confirm the presence of multiple pegmatite zones extending north-eastwards with down-plunge continuity at the North Aubry Lithium Deposit - with the mineralisation remaining open to the north, east, west and down-dip.

- These latest drilling results continue to provide Ardiden with a greater level of confidence in the continuity of the mineralisation, while also steadily increasing the overall scale of the project.

- Latest results support the Company's objective of exercising the Yantai Term Sheet and progressing its fast-track development strategy at Seymour Lake.

- Full geological and technical review of the latest drilling results is almost complete and planning for the commencement of the 2018 expansion drill program is well underway, with the drill program due to be finalised and commencing shortly.

The latest assay results include an impressive high-grade intercept grading 4.03% lithium oxide (Li2O) (SL-17-70), as well as numerous strong assays which continue to support the potential future expansion of the North Aubry Lithium Deposit, confirming the presence of multiple pegmatite zones extending to the north-east and east.

SUMMARY

Ardiden confirms that the last 7 drill holes from the 2017 resource expansion drill program includes the latest assay results from diamond drill holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77 (refer Tables 1 and 2 in link below). These latest drilling results were not including in the JORC Resource estimate announced on 4 October 2017 and have continued to demonstrate extensions and solid continuity of the thick high-grade lithium mineralisation expanding northeast and east from the North Aubry Lithium deposit.

Ardiden notes mineralisation remains open in all directions from the North Aubry Lithium deposit and further drilling which is due to commence shortly will allow the company to determine the grade and continuity of mineralisation in the identified pegmatite units.

Further, exploration drilling will commence shortly focusing on the North, Central and South Aubry prospects with the aim of drill testing how each of these pegmatite structures relate to each other which will then lead to better understanding of the overall pegmatite swarm at this location and further expansion potential.

Shown in Figure 1 (see link below), from a logistical perspective the North, Central and South Aubry prospects are well located on the western crest and side of the hills, providing good access from the nearby Ferland Road and potential access to the local infrastructure network at the Ferland Train Station only a short distance to the south.

The pegmatites at North Aubry host mineralisation which has been identified as having a downhole width in excess of 27m and 21m respectively, in drill holes SL-17-71 and SL-17-77. Both drill holes were drilled at a 60-degree dip, which is an approximate angle to show the normal mineralised unit.

Ardiden considers these latest assay results from diamond drill holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77, once again to be very encouraging and another step closer for the potential development of the Seymour Lake Lithium project with strategic partner Yantai Jinyuan Mining Machinery Co.,Ltd.

ASSAY RESULTS

The Company has now received assay results from diamond drill holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77 (refer Tables 1 and 2 in link below), these drilling results were not included in the Maiden JORC Resource Estimate.

Lithium grades up to 4.03 Li2O (SL-17-70) and 3.83% Li2O (SL-17-77) are reported in the latest batch of assay results, demonstrating a consistency of the high-grade lithium mineralisation at North Aubry.

Assay results for the 7 diamond drill holes are reported in this announcement, including SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77, and any assays below a cut-off grade of 0.5% Li2O and have not been specifically reported in this announcement.

Ardiden notes, 47% of this batch of assays drill holes (58 of the 123 drill core samples) returned results greater than the 0.5% Li2O cut-off with an average grade of 1.59% Li2O, while 32% (39 of 123 drill core samples) returned results greater than 1.0% Li2O with an average grade 1.99% Li2O. 22% (27 of 123 drill core samples) returned results greater than 1.5% Li2O with an average grade of 2.33% Li2O. (refer to Table 1 in link below).

Table 1 (see link below) presents the significant intersections which contain lithium mineralisation in drill holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77, that reported above the cut-off grade of 0.5% Li2O and the weighted average grade for each significant intersection, where the Li20% grades have been calculated using the Li2O assays as a function of the represented sample length (length X grade/length).

A summary of the more significant assays for holes SL-17-70 - SL-17-72 and SL-17-74 - SL-17-77, is provided below (refer to Tables 1 and 2 in link below for a full list):

- 27.62m at 0.99% Li2O from 135.22m down hole (SL-17-71) including:

o 10.00m at 1.52% Li2O;
o 5.00m at 1.72% Li2O; and
o 2.0m at 2.14% Li2O;

- 21.50m at 1.02% Li2O from 47.80m down-hole (SL-17-77) including:

o 6.00m at 2.59% Li2O;
o 3.00m at 3.52% Li2O; and
o 2.94m at 1.31% Li2O

- 16.45 at 0.95% Li2O from 70.30m down-hole (SL-17-75) including:

o 8.00m at 1.04% Li2O;
o 3.00m at 1.60% Li2O;
o 3.00m at 1.47% Li2O; and
o 1.00m at 2.27% Li2O.

- 11.85m at 1.44% Li2O from 55.70m down-hole (SL-17-76) including:

o 10.60m at 1.69% Li2O; and
o 2.30m at 3.24% Li2O.

MULTIPLE THICK ZONES OF HIGH-GRADE LITHIUM MINERALISATION

The continuity of mineralisation at North Aubry is suitably highlighted by drill-hole SL-17-71, which intersected 27.62 continuous metres of spodumene mineralisation from 135m down-hole with an average lithium grade of 0.99% Li2O. Furthermore, drill-hole SL-17-77 intersected 21.50 continuous metres of spodumene mineralisation from 48m down-hole with an average grade of 1.02% Li2O (refer to Table 2 in link below).

Also of note was drill hole SL-17-75, which intersected 16.45 continuous metres of spodumene mineralisation from 70m down-hole with an average of 0.95% Li2O. Drill hole SL-17-76 intersected 11.85 continuous metres of spodumene mineralisation from 56m down-hole with an average grade of 1.44% Li2O (refer to Table 2 in link below).

These latest assay results have again confirmed the presence of multiple thick, sub-parallel mineralised zones extending down-plunge to the north-east and east supporting the potential expansion of the North Aubry Lithium deposit (see Figures 3 and 4 in link below).

The assay results continue to validate the geological modelling of multiple stacked and parallel pegmatite sills and the northern extension of the known primary mineralised sills.

To date, the current drilling program has focused on the North Aubry prospect due to the ease of access and high-quality lithium mineralisation at the prospect, and future drilling programs will continue to target the immediate project area to include Central and South Aubry prospects.

Ardiden notes that mineralisation remains open in all directions at North Aubry. Further drilling is required to obtain a better understanding of the size and extent and potential connection of the underlying pegmatite structures.

2018 EXPANSION DRILL PROGRAM

Ardiden confirms that a full geological and technical review of the Seymour Lake Lithium project is almost complete. The review which has incorporated the latest drilling results has provided Ardiden with a greater understanding of the complex pegmatite structures contained within the project and identified a number of new priority drilling targets around the Aubry prospects.

Planning for the 2018 expansion drill program is well underway and Ardiden expects to finalise the drill targets and commence the new drill program due shortly.

EXPLORATION UPSIDE

Only about 5% of the regional 5km strike length of modelled pegmatites have been drill-tested, and the true potential of the project is yet to be fully evaluated. Approximately 40 new pegmatite exposures have been identified, with several of these exposures hosting visible spodumene.

Figure 6 (see link below), demonstrates the significant potential of the Seymour Lake Project with the red crosses on the images identifying numerous pegmatite exposures that have not yet been fully explored or tested. The area highlighted green contains the North Aubry Lithium Deposit and the Central and South Aubry prospects which have a high potential for substantial lithium mineralisation. The remainder of the 5km strike zone highlighted in blue remains open and untested.

Ardiden notes that although the pegmatites at Seymour Lake can be somewhat difficult to model and predict due to the variable fluid pathways during formation, confirmation of the interpreted extensions of the spodumene-bearing pegmatites and the verification of multiple pegmatite sills in the latest assay results provides the Company with a greater level of understanding and confidence in the project, while also steadily expanding the overall scale of the project and its future resource expansion potential.

CONCLUSION AND OUTLOOK

The latest drilling results, which include multiple high-grade intercepts of up to 4% Li2O at various depths, have further increased the Company's confidence in the scale and continuity of the lithium mineralisation at the North Aubry Lithium Deposit.

The Company believes that the Seymour Lake Project has the potential to host multiple high-quality lithium deposits, with the completion of a Phase 1 JORC 2012 Mineral Resource Estimate at North Aubry establishing a solid foundation from which the Company can aggressively target extensions of the known mineralised zones, the potential to identify further pegmatite structures and with, the assistance of our strategic partners Yantai, advance the project towards development.

Ardiden expects to commence the 2018 expansion drill program shortly and to provide further updates in the near future on current activities, including results from the ongoing metallurgical test work program in China, further drilling updates from North and South Aubry prospects and feasibility work including the Baseline Environmental Study activities being conducted at the Seymour Lake Project.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/7JOUP89M

About Ardiden Ltd:

Ardiden Ltd. (ASX:ADV) is an emerging international strategic metals company which is focused on the exploration, evaluation and development of four 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: Citadel-Magnus
Tel: +61-8-6160-4900