- Arcadia Minerals (AM7) reports “positive” drilling outcomes from the Madube Pan area within its Bitterwasser project in Namibia
- The company completed 23 holes at the end of last year, eight of which intersected clays of more than 500 parts per million lithium content
- Arcadia says the results confirm the presence of mineralisation over the Bitterwasser Pan district and support a potential mineral resource expansion
- The company expects to announce a mineral resource estimate for the Madube Pan in April
- AM7 shares are down 6.52 per cent to trade at 21.5 cents at 3:14 pm AEDT
Arcadia Minerals (AM7) has reported “positive” outcomes from drilling at the Madube Pan area within its Bitterwasser project in Namibia.
The company completed 23 drill holes in December last year at the Madube Pan, which is one of 14 exposed pans within the Bitterwasser basin.
The latest results from Madube highlight values of more than 500 parts per million (ppm) lithium in eight of the holes.
Further, the central portion of the Madube Pan returned elevated lithium levels similar to the Eden Pan, which hosts a mineral resource estimate of 286,909 tonnes of lithium carbonate equivalent.
Like the Eden Pan, mineralisation at the Madube Pan is elevated in the green clay units, which are located in the central part of the pan. Both the Eden and Madube pans have only been drilled to a depth of up to 18 metres from surface, which means there’s potential for further mineralised zones at depth.
“The assay results at Madube pan confirm the presence of mineralisation over the Bitterwasser Pan district and bodes well for a meaningful expansion of the mineral resource resident over the Bitterwasser lithium clay project,” AM7 CEO Philip le Roux said.
Looking ahead, Arcadia Minerals expects to release a mineral resource estimate for the Madube Pan in April.
The company is also progressing metallurgical testwork to extract the lithium from the clays using both sulphuric acid and organic acid. It expects to receive results sometime this month.
AM7 shares were down 6.52 per cent to trade at 21.5 cents at 3:14 pm AEDT.