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Arcadia Minerals (ASX:AM7) releases maiden resource estimate for Madube Pan deposit, Namibia

ASX News, Materials
ASX:AM7      MCAP $2.223M
02 May 2023 12:04 (AEDT)

The Bitterwasser project. Source: Arcadia Minerals

Arcadia Minerals (AM7) has declared a maiden mineral resource estimate (MRE) of 40,375 tonnes of lithium carbonate equivalent (LCE) for its Madube clay deposit within its Bitterwasser lithium-in-clay project in Namibia.

The Madube resource of 13.7 tonnes at 553 parts per million (ppm) lithium bolsters the overall resource for the Bitterwasser project to 327,284 tonnes of LCE.

AM7 said its drilling work outlined a clear trend in which grades increased to depth, with holes ending at 900 ppm lithium.

The company now plans to conduct cyclone testwork on Madube Pan samples to determine the potential for further grade increases similar to the Eden Pan zone, where the grade increased by 28 per cent.

The current MRE covers only two of the 14 known pans in the Bitterwasser Pan district, and AM7 aims to reach an overall MRE of 500,000 tonnes LCE for the area through further exploration work.

“Given that the tenor of mineralisation at Madube is similar to that of the Eden Pan, we are confident that we would be able to increase the overall Bitterwasser lithium-in-clay mineral resource to greater than 500,000 tonnes of LCE from other pans in the same geological environment,” AM7 CEO Philip le Roux said.

“As a clear lithium increase trend occurs from surface to the depths achieved with hand-drilled auger methods, we anticipate this trend to continue deeper into the pan ore body after using mechanised core drilling,” Mr le Roux said.

AM7 will conduct further diamond core drilling to confirm the geometry, stratigraphy, grade, and controls on the mineralisation in the Lower Clays unit of its Madube Pan.

The company will also investigate the potential for the lateral continuation of the pan sediments and survey Madube borehole collars to increase its MRE from an inferred to an indicated resource.

AM7 shares were trading at 20 cents at 11:43 am AEST.

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