Ardiden Ltd: Early Drilling Success at Flagship Seymour Lake Lithium Project

Canadian focused lithium explorer and developer Ardiden Ltd. ("ADV" or "the Company") (ASX:ADV) is pleased to announce early drilling success via the Resource expansion diamond drilling program at North Aubry, a highly-prospective lithium-bearing landholding at its 100% owned, flagship Seymour Lake Lithium Project in Ontario, Canada.

HIGHLIGHTS:

- Successful commencement of new drilling program, with holes ASD001 and ASD002 intersecting spodumene-bearing pegmatite peripheral to the presently defined North Aubry Mineral Resource

- Re-interpretation of data indicates potential to define a significantly larger Mineral Resource at North Aubry

- Assay results from previous drilling confirm the discovery of an unknown spodumene-bearing pegmatite about 500m south of the North Aubry prospect

- Overall aim of the 3000m program is to significantly expand the already defined lithium resource at North Aubry

The drill program has been designed to test and evaluate the interpreted continuation of the North Aubry pegmatites both along-strike and down-dip. The primary aim of the 3000m program is to define, locate and add more lithium tonnage to complement the current lithium resource already defined at the North Aubry prospect.

Commenting on the early success in the program, Ardiden CEO and Executive Director, Brad Boyle stated that the Company understands the significant potential that Seymour Lake offers, and there has been a thorough and detailed lead-up which has culminated to a number of impressive targets.

"The early success in the drilling program reinforces our strong belief on the potential to add a significant amount of tonnage to the already defined resource at North Aubry. We have taken our time in planning and with the assistance of Peter Spitalny, we are aggressively ramping up exploration and drilling with the overall aim of increasing the size and scale at Seymour Lake."

NORTH AUBRY

The current drill program has completed two drill holes (ASD001 and ASD002) with ASD003 in-progress. Both ASD001 and ASD002 have intersected spodumene-bearing pegmatite in positions not tested by previous drilling.

This is a very encouraging start to the drilling program, and assay results for these samples will be reported as soon as possible.

The current phase of drilling will focus on additional testing of the North Aubry prospect but includes some drill-holes designed to test recently discovered spodumene-bearing pegmatites south of the North Aubry prospect.

SOUTH AND CENTRAL AUBRY

Earlier in the year, Ardiden completed 13 diamond drill-holes (see Figure 2 in link below), of which the results for 7 holes have been reported (please refer to announcement dated 27/04/2018 for further information), with results for holes SA-18-11 to SA-18-16 recently received by the Company.

The assay results for the previously unreported holes (SA-18-11 to SA-18-16) are summarized in Table 1 (see link below), with a Collar Table included as Appendix 1 (see link below) and assay results included as Appendix 2 (see link below).

The results attained by SA-18-11 and SA-18-12 are significant because in both cases spodumene-bearing pegmatites were intersected, however the results of SA-18-12 are particularly encouraging because the intersected pegmatite is near-surface and has potential to extend both along-strike and down-dip (see Figure 3 in link below).

The down-dip continuation of this pegmatite will be tested as part of the drilling program currently being undertaken.

ASSAY DELAYS

The laboratory Ardiden has utilised for assay of samples to-date has received a great amount of samples from multiple clients due to increased exploration activity in the region and this has caused long delays in completing assays. This has greatly delayed Ardiden's reporting of results, including the results from Ardiden's recently completed Pickle Lake drilling program. Ardiden will address this problem by utilising the services of a different laboratory for Seymour Lake drilling program.

Ardiden looks forward to providing further updates as the information becomes available.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/77U80H02

About Ardiden Ltd:

Ardiden Ltd. (ASX:ADV) is an emerging international diversified exploration and development company possessing a mature multi-element asset portfolio, with a near term development pipeline, focused quality projects located in the established mining jurisdiction of Ontario, Canada.

Source: Ardiden Ltd.



Contact:

Investors: Brad Boyle
Ardiden Ltd.
Tel: +61-8-6245-2050

Media: Michael Weir / Cameron Gilenko
Citadel-Magnus
Tel: +61-8-6160-4900